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CoinPoker Players Mass Exit! CHP’s Post-ICO Bad Beat Continues

CoinPoker Players Mass Exit! CHP’s Post-ICO Bad Beat Continues

CoinPoker seems to have lost the steam it almost starting gaining when it was ICO’ing the CHP token last year. After the embarrassing launch, not only with the ICO but the site itself, it seems destined to have an average of 20 players on the site at anytime before dying. These are not the type of numbers a poker site can earn enough player rake to run a company with.

Luckily, the owners earned millions with the ICO and don’t have to worry about making it better with players still complaining.

The traffic on the site is lower than TonyG’s real money poker site (with the same software oddly) that has struggled for years to gain players.

 

Party Poker New Jersey? You can’t beat the 3rd ranked poker site in the state of New Jersey…there are only 9 million people in the state that can play poker there, CoinPoker has the entire world to market their product to.

Perhaps launching a poker site that players need to own Ethereum to play wasn’t the best approach. There isn’t any easy way for Bitcoin holder’s to buy their magical shitcoin CHP without going to the few exchanges that carry it.

Who launches a crypto poker site that KYC’s customers before they can play at a table anyways? Crypto isn’t about Orwellian capitalists, setting up rules for people to use their money. Seriously, you guys need to get a clue what crypto is about, buying bitcoin and hating everyone else’s altcoins…obviously.

Speaking of shitcoins, CoinPoker (CHP) is bouncing between $0.009 and $0.01 for the last week, after ICO’ing in the $0.07-$0.12 range, who wants to gamble with an altcoin that loses value while you’re gambling?

Our bias (and stupidity) should be noted here, as we are well aware that our bitcoin poker favorites has blockchain.poker listed, while their traffic is actually WORSE than Coinpoker’s abysmal poker traffic.

So just to clarify that blockchain.poker is at least worthy of “checking out” because:

1. Is in Beta still with cash game tables only

2. Didn’t ICO and take millions of  dollars worth of people’s crypto currency

3. They are an anonymous BITCOIN Poker site

4. They have a bitcoin faucet. Who doesn’t want to splash around in some pots with some free bitcoin?

Vietnam’s Fake Sports Betting Legalization

Vietnam’s National Assembly passing a new bill legalizing sports betting has been the talk of many media outlets this past week. As Vietnamese continue to be arrested for running illegal sports betting rings during World Cup, one can’t help wonder if government rules for sports betting will keep the Vietnamese gambling underground.

The main problem with legal sports betting in Vietnam are outlined by the Vietnam Brief quite clearly:

Maximum bet allowed is VND1 million (US$ 44) per day

During the five-year pilot program, only one betting operator will be provided the investment registration certificate.

and

The government only allows international soccer games recognized by FIFA, the international governing body, which includes the World Cup, the Confederations Cup, Copa America, Champions League, and Europa League.

This is a country that still gambles on cockfighting for anyone unfamiliar.

More than 600 billion dong (US$26 million) was earned by one betting ring in Hanoi according to state media.

With the increased popularity of bitcoins and altcoins in Vietnam, our guess is that gambling on bitcoin casinos and sports betting sites will become more popular than it already is in the country. As mentioned on the popular VPN site private internet access, the banning of Facebook in Vietnam increased Tor use by 10% in the country. Perhaps the regulation of crypto mining in Vietnam will be more problematic as Vietnamese citizens continue to find ways around the financial and internet blocking the government is trying to force people to live under.

US Sports Betting Ban Lifted

The state of Nevada’s sports betting monopoly has come to an end in America. The US Supreme Court ruled 6:1 to strike down the Professional and Amateur Sports Protection Act (PAPSA) of 1992. This opens the door for states to pass sports betting legislation, since PAPSA was the federal bill preventing legal sports betting across the country for over two decades.

 

When is Sports Betting Legal across the US?

It will still be a long time for many states to pass legislation for legal sports betting. Some states like New Jersey (who filed the motion against PAPSA), could have legal sports betting offered as soon as two weeks from now.

Where to Bet on Sports in New Jersey?

Unfortunately, this is only planned at Monmouth Park initially, as the racetrack built a sports betting facility anticipating this change. Even more unfortunate, they partnered with William Hill as a bookmaker.

Considering the £6.2 million fine they received for lacking proper money laundering controls in February, this should come as good news to the shareholders of their stock. Let’s hope they aren’t ranked one of the worst companies to work for in America like they have been in the United Kingdom.

Other States offering Sports Betting?

Oregon, Delaware and Montana already had exceptions written into PASPA to allow wagering on individual games. None have announced plans to pass further legislation regarding sports betting. West Virginia and Pennsylvania have actually passed legislation to prepare for this change.

It is estimated that 32 states will allow legal sports betting within 5 years of the federal ban being overturned.

Where can US sports bettors bet currently?

Thousands have been betting on sports for the past decade for real money and now bitcoin even. Perhaps some sports sites and bettors in the US were well aware how unconstitutional the act was and decided to gamble anyways.

Kenya to Lower Gambling Tax by 20%

Kenya to Lower Gambling Tax by 20%

After increasing the tax gambling sites were paying in Kenya to 35% in January of 2018, now in August the government has finally decided to back off and lowered the taxed rate back to 15%. SportsPesa, one of the largest sponsors of the Kenyan Premier League and Football Kenya Federation were about to see huge reduction of sponsorships as the betting sites would have been unable to profit offering bets to the market.

The betting sites were already paying a 30% corporate tax and 25% of sales went to social causes like sports sponsorship as legal requirements previously, the addition of 20% more tax was enough to have the betting sites remove their services from Kenya altogether.

This would have created a large underground market for sports betting that would go untaxed, much like the bitcoin sports betting sites available to Kenyans offer gamblers in the country. The reduction in tax revenue along with sports sponsorships would have caused some teams to be without funding previous to the MP’s changing the tax rate.

Since we have been covering how Kenyan’s buying bitcoin are going to potentially have a better store of value than the Kenyan shilling currently offers, we are also very interested if football betting in Kenya with bitcoin is going to increase or stay with M-Pesa.

$18 Million Mega Moolah Jackpot Won

One of the largest online slots, Microgaming’s popular Mega Moolah, has had a massive payout of $18,915,721! The lucky winners location and which casino the jackpot was won on are still unknown, this is the record breaking jackpot win from the £13 million jackpot won on Betway in 2015 playing the popular slot.

It is just as likely the lucky jackpot winner was playing on Bitcasino.io, 7Bit Casino or Bitstarz as any of the real money casino slot sites that offer Mega Moolah. The jackpot increases close to $1 million monthly from the combined play from all the casinos hosting the popular jackpot slot, it’s surely going to have more bitcoin players hoping to score the next one.

Top Bitcoin Mega Moolah Casinos:

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