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Maxim Krupyshev : Players are attracted by bitcoin for its working principle

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Maxim Krupyshev at RGC2017

Representatives of European gambling industry are successful bitcoin users: such payments take up to 80% of all transactions. It was stated in the interview of a co-founder of Cubits – company focused on bitcoin processing – Maxim Krupyshev to Riga Gaming Congress. We talked to him about advantages of cryptocurrency introduction in gaming business as well as the most suitable jurisdictions for its implementing.

Interviewer: Riga Gaming Congress (RGC)
Speaker: Maxim Krupyshev (M.K.)

 

RGC: What are the steps of a gambling company that wants to introduce cryptocurrency in payments system?

M.K.: It’s as easy as ABC if desired by business. You need to find a partner to explain all pros and cons. The procedure of company verification and agreement signing is similar to the integration of conventional payments methods. Notwithstanding, you should understand the striking difference between two ways of bitcoin usage: as a means of payment and as a cryptocurrency. The majority of our clients use bitcoin as an intermediary for deposits and money withdrawal for players having no direct contact with cryptocurrency. There exist a lot of variants from a business aspect and a technical aspect of integration – so as to satisfy requirements of each enterprise.

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RGC: What legislative difficulties can representatives of European gambling business face if they want to employ cryptocurrencies in a payments system?

M.K.: License requirements should be taken into account. Curaçao, Great Britain, Canada, the Isle of Man and the Philippines aren’t against bitcoin. Malta hasn’t approved it yet but is on the way of making a decision by the end of 2017. From a legal point of view, for an operator, bitcoin is a payments means. Money transactions through this channel are similar to any others.

RGC: Whose jurisdiction is the most loyal to cryptocurrency transactions and why?

М.К.: If we take gambling business, it’s Curaçao. The majority of bitcoin based operators work namely with this license. I think that Maltese authorities’ approval will change the situation. We all know that huge gamers of this market take Curaçao license for granted and in the majority of cases have several of them, including Maltese one.

RGC: How will the introduction of cryptocurrency in business benefit payments system?

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M.K.: Bitcoin is an international payments method. An operator doesn’t need to worry about payments system introduction in exotic countries. Also, changes in a company strategy cannot decline the operator. In fact, bitcoin is only a technology so even in case of some problems with your provider you can always find a new one. Bitcoin is cheaper and generally less risky in terms of fraud.

RGC: Volatility of many cryptocurrencies is pretty high (to put it mildly). In one day, the price can either increase or drop. How can business based on a cryptocurrency payments system avoid losses in case of adverse circumstances?

M.K.: In fact, business faces no danger. An operator doesn’t experience price ups and downs as bitcoin performs the role of a payments method, not an asset currency. In business, payments appear as a balance currency of players, which is the same in case of payoffs.

RGC: How popular are cryptocurrency payments among representatives of European gambling business?

M.K.: It is widespread although different brands give different pictures of themselves. Some paint themselves as bitcoin casinos, some don’t reveal practicing this payments system. It is notable that in European brands, a bitcoin payments segment varies from 1-2 to 70-80% of all money flow depending on a brand focus. In Europe, everyone knows about bitcoin: ask any Uber driver – they won’t hesitate to tell the difference between bitcoin and litecoin. If a brand offers advantageous conditions of bitcoin payments, there will be no shortage of bitcoin gamers.

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RGC: How will the introduction of cryptocurrency in payments system of gambling business benefit average users?

M.K.: Players are attracted by bitcoin for its working principle. You don’t need to store it somewhere, for instance, in a casino or a bank, but on a phone, a laptop, etc. because bitcoin doesn’t require one place. For example, in one day, a gamer can play on different platforms all over the world and process immediate transactions among them. By nature, bitcoin is a toy while the idea of its application is a game. To some extent, it perfectly fitted in the gambling business. So, “Will your brand accept bitcoins?” isn’t a question anymore. The point is “When?”

Maxim Krupyshev will deliver a speech at Riga Gaming Congress on October 12. Don’t hesitate to register for the event in order to broaden your knowledge of cryptocurrency possibilities in the gambling industry.…

The post Maxim Krupyshev : Players are attracted by bitcoin for its working principle appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.


Source: EEGaming.

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4Play

Fast Track Enters into Partnership with 4Play

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Fast Track, the leading player engagement platform built specifically for the iGaming industry, has partnered with 4Play, a dynamic and innovative gaming operator renowned for its exceptional player experiences in both casino and sports betting.

Launched in 2023, 4Play has rapidly gained recognition in the industry, primarily targeting the burgeoning Brazilian market. With a commitment to delivering unparalleled entertainment, 4Play offers its players a seamless experience in Portuguese, featuring popular gaming verticals such as casino and sports betting.

4Play’s decision to integrate Fast Track CRM comes as part of its strategic initiative to bolster player retention and streamline operations through advanced automation. Fast Track’s robust platform will enable 4Play to automate complex player journeys, ensuring each interaction is personalised and timely.

“We are excited to partner with Fast Track to elevate our player engagement strategies. Their innovative approach to CRM and their commitment to creating individualised player experiences align perfectly with our vision for 4Play. We look forward to leveraging their platform to enhance our player retention and operational efficiency,” Mateus Ihering, Chief Operating Officer of 4Play, said.

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Fast Track’s CRM platform, recognised for its real-time data capabilities and comprehensive automation suite, will support 4Play in achieving its business goals. By automating player communications and optimising the registration journey, 4Play aims to significantly increase its number of depositors while maintaining a high level of engagement among its 148,000 monthly active users.

Simon Lidzén, Co-Founder and CEO of Fast Track, said: “We are delighted to welcome 4Play into the Fast Track family. Their innovative spirit and dedication to providing top-tier player experiences make them an ideal partner. Together, we will set new standards in player engagement and retention, ensuring that 4Play continues to thrive in the competitive iGaming landscape.”

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Andrés Tamayo

Pragmatic Play Enhances FullReto Partnership with Virtual Sports Addition

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Pragmatic Play, a leading content supplier to the iGaming industry, has reinforced its commitment to Latin American expansion by strengthening its existing relationship with Colombian operator FullReto.

The latest agreement will see FullReto offer its players a broad selection of Pragmatic Play’s unique Virtual Sports titles, building on an already extensive offering of over 300 Slots and Live Casino games.

Fantastic League, Greyhound Racing, and the thrilling motor racing-themed Force 1 are among the games now available to FullReto customers as the operator looks to capitalise on the rapidly increasing popularity of Virtual Sports to consolidate its position as a leading platform in Colombia.

The multi-product partnership reaffirms Pragmatic Play’s intentions to expand its offering in the LatAm markets, with FullReto now offering a vast catalogue of Pragmatic’s award-winning games across three verticals.

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Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is delighted to reinforce its partnership with FullReto by providing its players with access to its renowned Virtual Sports games. The deal not only emphasises Pragmatic Play’s desire to provide Colombian players with an exciting online gaming experience, but also demonstrates the supplier’s dedication to furthering its Latin American expansion.”

Andrés Tamayo, General Manager at FullReto, said: “FullReto’s continued collaboration with Pragmatic Play highlights our main objective of supplying the optimal player experience. The addition of Pragmatic Play’s Virtual Sports offering, on top of its Slots and Live Casino games, will ensure FullReto players have access to hundreds of fan-favourite games across a variety of verticals.”

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Alonso Huiman

Pragmatic Play Launches Live Casino Offer at Atlantic City

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Pragmatic Play, a leading content supplier to the iGaming industry, has expanded its Live Casino footprint across Peru after going live with major local operator, Atlantic City.

The partnership sees Pragmatic Play’s full Live Casino portfolio integrated with the operator, enabling players in Peru to enjoy market-leading titles such as Blackjack, Roulette, and Baccarat from the supplier’s award-winning portfolio.

This latest agreement showcases Pragmatic Play’s plans for growth in LatAm, exhibiting an array of its verticals across multiple territories in recent months. It is the latest deal signed by Pragmatic Play with a Peruvian operator, following a comprehensive growth strategy in the country.

Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Atlantic City is one of Peru’s most reputable operators and offers another opportunity to showcase the Pragmatic Play Live Casino portfolio in Peru. With an offering that will deliver exceptional gaming experiences to players, this partnership promises to cement Pragmatic Play’s position at the forefront of the Peruvian iGaming industry.”

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Alonso Huiman, Chief of Online Casino at Atlantic City, said: “This landmark agreement with Pragmatic Play is a pivotal moment for us. Its vast selection of table and card games will resonate seamlessly with our player base and we are confident that this will propel our brand to new heights.”

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