Connect with us
European Gaming Congress 2024
insanitybets-opens-presale-for-innovative-casinofi-and-gamefi-project insanitybets-opens-presale-for-innovative-casinofi-and-gamefi-project

Gambling in the USA

InsanityBets Opens Presale for Innovative CasinoFi and GameFi Project

Published

on

 

The Presale Opportunity of InsanityBets

InsanityBets is a unique project that combines the thrill of CasinoFi with the innovation of GameFi. Its native token, $IBET, has just strategically launched at a low market cap. The team’s idea is to allow investors to get in early and benefit from potential future growth.

But this presale isn’t just about potential profits; it’s about being part of a new project’s idea. Specifically, the team behind InsanityBets is openly aiming to turn the gambling world on its head. InsanityBets offers a groundbreaking concept where owners of derivative tokens become the house. In practical terms, this means that the community will receive 90% of house winnings and 85% of the platform fees.

The Innovative Project Behind InsanityBets

Advertisement
Stake.com

InsanityBets offers an exciting new way to play and invest in the gaming industry. Furthermore, the project’s founders also bring unmatched fairness and transparency through its use of Chainlink VRF for RNG. Thanks to blockchain technology, every roll of the dice, wheelspin, and card drawn is provably fair.

What truly sets InsanityBets apart is its decentralized autonomous organization (DAO). Here, holding $IBET tokens means having a say in game selection, protocol fees, and strategic decisions. This democratic approach to gaming puts the power back into the hands of players and investors.

About InsanityBets

InsanityBets isn’t just a project; it’s a movement that champions fairness, transparency, and community in Web3. With its DAO structure and innovative tokenomics, it offers an ecosystem where all stakeholders can benefit from its success.

Beyond potential earnings, $IBET holders also receive real yield from transaction fees. This particular feature makes the project an attractive investment opportunity in a $200+ billion industry. This project is built on foundations rooted in sustainability, setting it apart from other presale projects in the sector.

Advertisement
Stake.com

Through the $ILP token, users will receive multiple rewards for participating on the platform. There are already multiple games in development on InsanityBets, and the team will launch them in beta mode for everyone joining the presale.

Anyone wishing to learn more about InsanityBets and the $IBET token can visit the project’s website and join its community.

Gambling in the USA

MGCB to Increase Regulatory Capacity with Additional Staff, Contribute $6M to Compulsive Gambling Prevention Fund

Published

on

mgcb-to-increase-regulatory-capacity-with-additional-staff,-contribute-$6m-to-compulsive-gambling-prevention-fund

 

On Thursday, June 27, the Michigan Legislature reached an agreement on the state’s Fiscal Year 2025 budget which includes $1.9 million of funding earmarked to support the addition of 14 full-time equivalent (FTE) staff positions at the Michigan Gaming Control Board (MGCB). These positions are necessary to support the agency’s internet gaming and sports betting regulatory operations in one of the fastest-growing U.S. gaming markets, expand the MGCB’s regulatory capacity, and enhance protections against illegal activity.

Additionally, the Compulsive Gambling Prevention Fund and its associated programs will receive a $3 million funding increase from the MGCB. This increased allocation of proceeds from internet gaming and sports betting funds will enhance the 24/7 Gambling Disorder Helpline operated by the Michigan Department of Health & Human Services, and support gambling research and education for youth about gambling, as well as existing treatment options to assist those with gambling addiction and related problems.

“I extend my deepest gratitude to Governor Whitmer and the Legislature for their commitment to enhancing the Michigan Gaming Control Board’s operations with their support of additional FTE positions, underscoring their dedication to strengthening the agency and it’s regulatory efforts. Moreover, the MGCB’s increased contribution, from $3 million to $6 million, to the Compulsive Gambling Prevention Fund demonstrates our proactive approach towards responsible gaming. Together, we are safeguarding the integrity of the industry while prioritizing the well-being of Michigan citizens,” MGCB Executive Director Henry Williams said.

The MGCB will use another $3 million in its FY2025 budget to support the continuation of the agency’s “Don’t Regret the Bet” responsible gaming messaging campaign. Launched on March 1, 2023, the campaign provides tips and information to Michigan citizens that can help them play it smart and keep gambling from getting out of hand.

Advertisement
Stake.com

The bipartisan budget agreement is now headed to Gov. Gretchen Whitmer’s desk for her consideration and signing into law, with funding allocations expected to take effect Oct. 1, the start of the state FY2025 budget calendar year.

Continue Reading

EGR North America Awards 2024

High 5 Casino Wins Social Gaming Operator of the Year for Second Consecutive Year

Published

on

high-5-casino-wins-social-gaming-operator-of-the-year-for-second-consecutive-year

 

High 5 Casino is thrilled to announce its consecutive win as Social Gaming Operator of the Year at the EGR North America Awards 2024. This prestigious award reaffirms High 5 Casino’s exceptional performance and innovation in the social gaming sector.

“We’re honored that High 5 Casino has once again received the Social Gaming Operator award,” said Tony Singer, CEO of High 5 Games. “Beyond our growth in users, it’s the happiness our players find in the H5C community that motivates us to continually improve. Our commitment is to provide players with top-notch casino content, and we’re determined to solidify H5C as the leading social casino brand worldwide.”

An independent panel of judges selected High 5 Casino for its outstanding performance and innovation over the past year. The award recognizes High 5 Casino’s notable commercial success and community-building efforts in the social gaming market.

“The recognition from EGR North America Awards is a testament to our team’s dedication and the support of our players,” added Tony Singer. “We are excited to continue pushing boundaries in social gaming and delivering unforgettable experiences to our community.”

Advertisement
Stake.com

The winners were announced on June 27 at an awards ceremony held at Midtown Loft & Terrace in New York City. High 5 Casino secured the Social Gaming Operator of the Year award due to its outstanding product quality, revenue growth, and leadership in innovation across product differentiation, marketing, and technology.

Continue Reading

Gambling in the USA

Pennsylvania Skill, Powered by Pace-O-Matic, Congratulates PA Gaming Control Board and Casino Giants on Surpassing 2023 Revenue Numbers

Published

on

pennsylvania-skill,-powered-by-pace-o-matic,-congratulates-pa-gaming-control-board-and-casino-giants-on-surpassing-2023-revenue-numbers

 

Pace-O-Matic (POM), creator of Pennsylvania Skill games, has congratulated the Pennsylvania Gaming Control Board (PGCB) which saw an 8.7% increase in gambling revenue in May 2024 over revenue in May 2023.

The funding comes from slot machines, table games, internet gaming, sports wagering, fantasy contests, and video gaming terminals (VGTs). The May revenue total is $520,997,868.

As the PGCB celebrates yet another enormous financial win, small businesses, veterans groups, volunteer fire companies and other fraternal clubs across the state also are pleased with the income they receive from operating legal skill games.

“The increased revenue for casinos and other gambling enterprises under the jurisdiction of the PGCB is good for the commonwealth. These numbers show that there is room in the state for both casinos and small businesses that operate skill games to be successful. There is no competition between the two,” said Mike Barley, spokesman for Pennsylvania Skill.

Advertisement
Stake.com

Barley questions why casinos, especially Parx Casino, are fighting skill games when they continue to see increased revenues month after month and year after year. He added he is disappointed the giant casino industry wants to destroy family businesses and organizations that count on skill games for supplemental income by seeking to impose a crushing tax rate on the games. Legislation to regulate skill games calls for a 16% tax on skill games while casinos say the tax should be 52%.

“Sadly, $521 million a month is not enough to satisfy the greedy casino industry. Instead, they want to kill small businesses, American Legions, volunteer fire companies, Moose Lodges and other places that count on income from skill games. These locations could never afford to pay the same tax rate that wealthy casinos pay. Casinos know that but they simply don’t care,” Barley added.

Barley explained that POM supports legislation sponsored by Sen. Gene Yaw and Rep. Danilo Burgos that will regulate and tax skill games. There is bipartisan backing for the legislation that will put guardrails around skill game operations and provide $250 million in skill game tax revenue for the state in the first year alone. Gov. Josh Shapiro wants to see skill game tax revenue as part of his 2024-25 state budget. But, Barley added, that revenue is generated only through a reasonable tax on skill games.

Several courts have ruled Pennsylvania Skill games are legal, including a unanimous Commonwealth Court in November. In addition to providing supplemental income to small businesses, the games are manufactured in Williamsport and 92% of the income they generate stays within the local economy or the state.

Advertisement
Stake.com
Continue Reading

Trending