EOSBet Weekly Update — Nov. 30
Dear EOSBet Community,
The EOSBet team is thrilled to announce that we have received a gaming license from one of the world’s oldest established gaming regulators, Curaçao eGaming. This accreditation entitles EOSBet to operate all forms of interactive online gambling and adds another level of legitimacy to the project.
You can read the full press release here: https://cryptovest.com/news/eosbet-becomes-first-licensed-on-chain-blockchain-casino/
As the oldest gambling dApp on EOS, we pride ourselves on doing things the right way, even if doing so takes time or comes at the expense of immediate profit. Currently, we’re the only open source platform on EOS and now the only licensed platform as well.
This is crypto, why do you guys need a license?
Most of our team has been around since the earlier days of Bitcoin, so we’re familiar with (and often sympathetic to) the crypto-anarchist mentality. Anyone anywhere can interact with the EOS.IO blockchain, with the chain’s validating nodes (block producers) distributed around the world. This means EOS.IO is reasonably permissionless and censorship resistance, which is great!
However, there are a number of benefits to being licensed and legal:
- Added trustworthiness and credibility to the project
- Allowed us to establish important banking relationships
- Enables us to work with more legitimate, large-scale partners
- No potential for the domain to be seized or for the project to get shut down
- Increased investor confidence (unfortunately, we’ve already seen several exit scams within the EOS gambling ecosystem)
What does this mean for the project?
As many of you know, we’ve been operating in a period of relative stealth for the past few months as we’ve grown our team, incorporated our company, and established strong partnerships. Some slowness can be attributed to scaling up from a small team and being the first to discover quirks building on EOS. We have also been hesitant to move too quickly without having the proper structures in place, such as accreditation. The team has been sitting on a few updates that we’re excited to roll out to the community over the next month, including a new game, revamped Baccarat, a unified site, a fix for frustrating player resource issues, and a set token airdrop schedule.
What about an exchange listing?
We are continuing our talks with large exchanges about the possibility of listing BET. The team is going through the application process with a Top 3 exchange and we hope for good results. Attaining a gambling license and continuing to keep the token non-transferrable bolster our chances for a favorable listing. We believe it’s important to list on a trusted exchange with a large user base in order to bring more people into the EOS ecosystem. Thank you for your patience.
Until then, the only way to receive BET is by betting! While the tokens are locked enjoyed the dividends that are being paid.
On November 29th, we gave out nearly 400,000 BET tokens as part of our promotion celebrating our 10,000,000th bet on the site. Now is your last chance to scoop up BET at a great rate before we implement a set drop bonus schedule!
The crypto space moves fast; many projects heat up but then burnout. As we’ve said from the beginning, we try to make all our decisions with an eye for long-term growth and sustainability.
We’re only a little over three months in and we’re just getting started. Thanks for being a part of the community as we revolutionize the future of online gaming.
Disclaimer: No persons under the age of 18 are permitted to gamble. Online gambling is an entertainment vehicle that includes a certain degree of financial risk. players should be aware of this risk and govern themselves accordingly. There is no intention to induce any person to violate any local, state, or national laws. It is the sole responsibility of players to reference laws within their own jurisdiction to ascertain the legality of actions. Token sale prices are subject to change. We are not liable for losses of funds. Remember to keep your private keys private.