BitStarz Takes You to 2018 FIFA World Cup in Russia

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Are you a fervid fan of premium football with a keen interest in playing Bitcoin casino games online? If you’re crazy about both, BitStarz Casino will give you a perfect way to combine each passion with its latest Journey to Russia casino promotion. Giving you an exclusive chance to be pampered like a real VIP and watch the 2018 FIFA World Cup finals in Russia, in person, BitStarz once again proves that it is a casino that really knows how to make unique, unrepeatable, and exciting promo offers.

Take a Friend With You to Russia

The Journey to Russia promo is still fresh, having launched only a few days ago on May 7th. The competition will last until June 20th, to give the casino and its players enough time to prepare for the finals which will take place somewhere in July. If you haven’t gotten around to getting your tickets, or just find it too expensive to splurge on a trip to Moscow where the World Cup finals will take place, this is a one-of-a-kind opportunity to win a free trip and some casino payouts at the same time.

The new competition is actually a new version of BitStarz’ Treasure Island which we wrote about a while ago. The Treasure Island promotions were first launched back in December last year and the casino has been continuously improving them each month. Last month, the expanded tournament only gave away cash prizes but now you will also get to win yourself a VIP package to Russia for 2.

The whole package includes paid accommodation to a “premium hotel” for you and anyone you might want to take with you, as well as 2 tickets to the finals and 2 flight tickets. The prize is given as is, without any option to exchange it for cash if you don’t like it. If you manage to arrive at the top of the competition and win the prize, the only part you’ll have to cover yourself is a visa to enter Russia. What more could a die-hard football fan want?

Travel Through the World and Get €50,000 in Cash

Tournament tickets aren’t the only prizes you can get with BitStarz’ new amazing promo. Namely, like the previous Treasure Island competitions, the Journey to Russia also offers bonus cash prizes and gifts to all who dare to climb up the leader-board. Even better than last month, when the prize pool was €45,000, BitStarz is now offering €50,000 in individual prizes for any player that joins the tournament.

To win any prize, all you need is to log in at BitStarz Casino and play any game you can find with real wagers. You will start at position 1 and you will have to fill up your progress bar by playing games to reach position 2, 3, and so on. With each new milestone you reach, the casino will credit a prize to you immediately. There are a total of 40 positions to conquer which are scattered across 6 continents on the map.

You begin your trip to Russia from South America, from where you have to work your way up to North America, Australia, Asia, Africa, and then Europe, before reaching the stadium and winning the tickets. To see the map for yourself, go to BitStarz casino and look for the Promotions menu.

May 11, 2018: • No Comments

Bitcoin Gambling for the 1st Time at Kentucky Derby

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There’s no denying that Bitcoin gambling online is booming, as evident from the dozens of Bitcoin bookmakers and casino sites that have been launched in recent years. But where the cryptocurrency gambling sector was slow to develop is in the land-based industry where the traditional way of wagering still prevails.

However, as a new report shows, Bitcoin is quietly crawling into the traditional gambling sector where more and more prominent events are beginning to take cryptocurrency wagers. One of the latest premium events to jump on the crypto-bandwagon is the popular Kentucky Derby, which set a new milestone this year by allowing bets in Bitcoin.

Kentucky Leads the Way; More to Join?

Paving the way for a wide-spread land-based adoption of Bitcoin gambling in the US, the Kentucky Derby allowed betting in cryptocurrencies for the first time this year. As reported by Investopedia, the Derby will from now on allow bettors to place a bet by using not only Bitcoin wallets but also Bitcoin Cash and Litecoin deposits.

During last year’s Kentucky Derby, the race saw a record number of wagers placed that surpassed $100 million. According to the director of operations at the race, Tim Maxwell, during this year’s event, which took place on May 5th, the betting volume was expected to increase even further.

Maxwell believes that the future growth in wagering will be brought on by the introduction of cryptocurrencies to the events. As he puts it, local punters looking to bet with crypto coins have only had international gaming companies to turn to thus far, but now they have more options. His estimates proved to be justified even before the event took place as online horse racing service US Racing found that a “non-insignificant trend” in people using cryptocurrency to bet was observed prior to the start of the derby.

However, the director of operations believes that “further clarification” is needed on the risk management and legality of accepting digital currencies before a global adoption could happen in the gambling industry. Nevertheless, he remains an optimist and expects a number of online Maltese, UK, and Canadian operators to start offering Bitcoin deposits by the middle of next year, but also land-based casinos and bookmakers by the first quarters of 2020.

An Event That’s Not to be Underestimated

The Kentucky Derby is one of the most prestigious events in horse-racing each year, despite being quite short. Dubbed as “the most exciting two minutes in sports”, the derby had once attracted an average number of 150,000 visitors to the Churchill Downs race grounds each year and many more to land-based and online bookmakers in recent times. The event has been held annually since 1875 during the 1st Saturday of May and it is the finale of the 7-day Kentucky Derby Festival.

The Kentucky Derby is a Grade 1 stakes race for thoroughbreds that kicks off the first leg of the Triple Crown events and is followed by the Preakness Stakes and Belmont Stakes. With a race as prominent as this one deciding it’s time to open up doors for Bitcoin bettors, it’s no surprise why the cryptocurrency sector can’t stop buzzing about it.

May 9, 2018: • No Comments

New Slot Promos and Cash Prizes Available at Bitcasino and Vegas Casino

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If you’re prepping up for another laid-back weekend of working the slots floor at your favorite Bitcoin casino, you might want to check out Bitcasino and Vegas Casino today. Offering two separate slot competitions to registered players, both operators will give you a shot at winning some extra cash prizes over the next days. To find out more about these fresh promo offers, read through our full update.

160 mBTC in Prizes at Bitcasino

The first promo we found for you this week is a prize tournament at Bitcasino that was launched 2 days ago to promote a new slot from TGC called the Hippie Chicks. The promo offer will end just before midnight on Tuesday, May the 8th, while the prizes will be given away by no later than May 11th. The promo is exclusive to Bitcasino and each of the top 10 winners will be given cash prizes that have no wagering requirement:

  • 1st place –  65 mBTC
  • 2nd place – 35 mBTC
  • 3rd place –  25 mBTC
  • Places 4-10 – 5 mBTC

To enter the tournament, you only need to play 50 rounds on the new slot game. Only real money bets count towards the competition while the leader-board points will be based on a win/bet ratio. So, if you bet 2 mBTC and win back 10 mBTC, you will earn 20 points for the leader-board (2×10).

If you still haven’t given it a try, the Hippie Chicks is a 60s-inspired slot that celebrates hippie culture but with chickens instead of people. The slot features 5-reels, and 20 fixed paylines but also extras like wilds, colossal 4×3 mystery symbols, as well as a free spins round with up to 200 free spins and a 2x multiplier. To see it for yourself, just visit Bitcasino and list through the slot collection.

$5,000 May VIP Competition at Vegas Casino

If you’re a regular at Vegas Casino, you can enroll in the casino’s fresh May VIP competition to earn a slice of a $5,000 prize pool. The VIP tournament will last for the full month, so you don’t have to be in a rush to earn yourself a prize. The rules are very simple – just play any Betsoft slot game for as long as you like and visit each Monday to see the updated leader-board and find out where you are standing.

Since this is a high-roller promo offer, cash prizes are only available for the top 3 players. The number 1 spot on the leader-board will get to claim a prize of $1,000 in any currency/cryptocurrency equivalent. The second place will get half the money, or $1,500. And the third-best player will earn a quite solid consolation prize of $500. However, even if you don’t win any money, you will still get rewarded with some free spins that will be given to everyone that joins the competition.

When it comes to finding what to play for the tournament, you’ll be faced with dozens of choices, including Betsoft classics like Frankenslot’s Monster and Good Girl Bad Girl as well as new hits like the Sugar Pop 2. To see the full range of Betsoft Slots, just use this link to visit Vegas Casino.

May 4, 2018: • No Comments

Cryptocurrency Casino ICO Shows Signs of a Scam

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No matter if you’re a regular at Bitcoin casinos online or are just interested in the cryptocurrency gambling sector, you’ve likely heard the words Zero Coin and Zero Edge a lot during the past couple of months. Zero Edge is an online gambling company that launched an ICO campaign a while ago to gather financing for an online casino that would work on the Zero Coin cryptocurrency. But after the launch of a second leg of its fund-raising campaign, suspicions have arisen whether its investment opportunity is real or fake.

Second ICO Round Raises Even More Suspicion

According to gambling portal Calvin Ayre, Zero Edge could very well turn out to be another ICO scam launched to deceive investors out of their money. As the portal observes, the ICO campaign will be running its second round in June when its tokens will be offered at a 58% discounted price, which raises suspicion as to the real reason for such a large discount. There seem to be two viable answers: A) Its initial round didn’t sold enough coins; or B) the company is being forced to sell due to reports of the campaign being a scam.

The Zero Edge casino will reportedly offer a house edge of 0% and run on the Ethereum-based tokens the ICO was selling. However, the name of the casino was found to be a tad misleading as the information on the site showed that its slots had a house edge of 0.01% while its table games had to be played with “perfect strategy” to achieve the “zero edge”. If players couldn’t play with “perfect strategy”, they could “induce the house edge inadvertently”.

As the whole business model of the company is based on the casino making less money, some online members of the crypto-community have been wary of investing in Zero Coin for fear of being duped out of their money. And, as shown by a recent report on Medium, the whole thing really looks like a scam.

Report Suggests Zero Edge is a “Fake” ICO

Near the end of March, Zero Edge’s ICO campaign was proclaimed a scam by one Simon Casey who investigated the company’s crowd-funding campaign and website and published the findings in a report on Medium. As initial evidence, he provided the social media profiles of the CEO, CFO, and web analyst of Zero Edge, which all were relatively new and lacked information and two of them were even created under completely different names.

Casey also found that some of the listed financial advisors on the website had their names and identities abused without being related to the company in any way and that the site’s casino games were basically demos taken from elsewhere. Namely, when the reporter investigated the games, he found that they linked back to casinos and gambling portals online where they were offered for free and one even linked back to Microsoft’s web store.

Moreover, the casino initially had a Curacao eGaming logo which served to certify that it was licensed, but after investigating the license further, Casey found that it belonged to a different operator. It was subsequently removed. This just goes to show how careful you have to be before investing in ICOs, especially when 4 out of 5 could end up being a scam.

May 2, 2018: • No Comments

Grab Cashbacks and Tournament Prizes Every Week at Drake Casino and BitStarz

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Being a regular at a Bitcoin casino may not always pay off, but with some online operators it does so quite often. If you hold an account with Drake Casino or BitStarz, there are a number of ways you can get some of your money back while enjoying your favorite games, and that happens every week. So, if you’re tired of not getting anything back from your weekly sessions at your go-to Bitcoin casino, you might want to check these offers out.

10% Cashback on All Loses and Weekly Tournaments

As an existing member of Drake Casino, you can enjoy a special weekly rebate program that guarantees you’ll get some of the money lost during your play time. Namely, for every week you play, the casino will offer you a 10% cashback on all losses. Given each Tuesday, the rebate cashback is calculated by deducting your wins, losses, bonuses, and rebates to estimate the amount of cashback, which can end up giving you some nice balance boosters should you get unlucky.

Let’s say you lose $500 during the week and win only $200 back. With the rebate reward, you’ll get 10% on the difference ($300), which amounts to a $30 cashback that will be added to your player account. And to top it all off, that money is given without any rollover requirements whatsoever!

On the other hand, if the rebate doesn’t peak your interest, Drake Casino also provides other ways to earn some extra cash for your player account. Namely, at the casino you can also enjoy a whole list of tournaments that run on a daily, weekly, and monthly basis.

This week, the casino has a slots tournament with $2,000, $1,000, and $750 prizes for the top 3 players as well as $100 prizes for anyone who ends up on the bottom positions of the leader-board.  After this tour ends, the casino will launch another one on Monday but on a different slot game. If you want to prepare for next week and check out some of the other rewards on the site, use this link to visit Drake Casino.

More Weekly Prizes and Free Spins at BitStarz’ Slot Wars

If you don’t really like tournaments that are tied to a single slot game, BitStarz is the place to be. The casino runs a very popular weekly Slot Wars tournament where players can choose any slot game of their liking and win points for the tournament leader-board simply by playing it. And if you get to climb up to any of the top 50 positions, you’ll be able to claim a prize that is free of any wagering requirements.

The Slot Wars run every week starting Sunday and they end on Saturdays. To take part, just pick a game you like and start playing it for real money. For every cent you spend, or BTC equivalent, you’ll earn 1 tournament point. The more you spend, the higher you get to climb up the leader-board. The first 3 positions on the list get prizes of €300, €150, and €100, while the remaining 47 leader-board climbers get prizes of €50-€10 or 10-20 free spins, depending on their position. For more info about the rules and payouts, visit BitStarz Casino.

April 27, 2018: • No Comments

Macau Regulator Warns Against Cryptocurrency Casino Tokens

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The Macau Monetary Authority – the financial watchdog of the popular Eastern casino hub – has issued warnings against investing in cryptocurrencies following reports that tied Dragon Corp with the now-notorious PR firm Cambridge Analytica. Dragon Corp, which launched an ICO campaign for a floating cryptocurrency casino in Macau, has reportedly engaged the firm to promote its Dragon Coin tokens. Only a day before, reports came in of another crypto-company that falsely promoted digital coins which were supposed to be accepted by junket operators in the region.

Dragon Corp ICO Tied to Cambridge Analytica

The monetary authority of Macau has issued a warning of cryptocurrency “fraud” amidst reports of Dragon Corp being linked to Cambridge Analytica – a British consulting firm that was caught deceiving users to submit their Facebook data and reportedly abusing it to influence voters on the social network, the South China Morning Post reports. In a statement published on its website, the Monetary Authority of Macau reminded locals that digital currencies were not considered a legal tender, per the law.

As the statement reads, the regulatory body was made aware that a Macau company has been running an ICO campaign and thus wanted to remind residents that digital currencies were “not legal currencies and financial tools” but also that locals should be “aware of fraud and criminal activities associated with cryptocurrencies”. The financial watchdog also underlined that any “institution” that is involved in financial services without permission is in breach of the Financial Systems Act of Macau.

The warning came after a New York Times report acquired e-mails and documents that linked Cambridge Analytica with Dragon Coin (the token of the ICO campaign) and the infamous Macau gangster Wan Kuok Koi or “Broken Tooth”, as he is known locally. Dragon Corp. denied any reports that the gangster helped finance the project, after Wan was seen taking publicity photos with executives from the company. The coin itself, apart from being planned for use in the new cryptocurrency casino, is also to help fund VIP cryptocurrency gambling in 3 South Korean casinos, following the implementation of the Dragon blockchain in their land-based rooms.

Chinese Crypto Company Falsely Promotes Coin for Macau Junkets

A few days before Macau’s regulatory authority picked up on the Dragon Corp. news, another coin issuer caught the attention of local junket operators. Namely, a company called Lantai Digital Application Technology Co Ltd., was caught publishing “fake news” about its own cryptocurrency. Reportedly, Lantai promoted its own digital coin to the media, saying that it could be used for VIP gambling in Macau casinos as it was supported by local junket operators.

However, short after news broke out about the coin, a number of high-profile junket operators in Macau (Suncity, Meg-Star, Tak Chun, and Guandong, among others) issued statements denying their support of the coin and expressing dissatisfaction with the use of their names.  Reportedly, some even plan to sue Lantai for using their names and logos.

Lantai then responded to the denial by admitting that the company has never signed any “cooperation agreements” with the firms and stated that the trading and application of its cryptocurrency has no ties to the operators.  The local police are currently investigating the case but a spokesperson of the authorities has stated that no complaints were thus far submitted for the false advertising and use of trademark names.

April 25, 2018: • No Comments

Enjoy New Bitcoin Live Games at BitCasino and Fortune Jack

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Quality live table games are growing in numbers across Bitcoin casinos, something that wasn’t that common a few years back. One of the latest trusted Bitcoin operators to expand their live portfolios are BitCasino and Fortune Jack. With the addition of a few more tables to what were already great game portfolios, these operators once again showed that a top casino is one that never stops improving.

Fortune Jack Adds Authentic Games Live Tables and Microgaming Slots

Authentic Gaming is a relatively new live game company that was first established in 2015. What this Maltese game provider specializes in is streaming live casino games from luxury land-based casinos across the globe. One of the most unique products offered by the game provider is Superior Roulette – a French Roulette variant hosted by 4 Croupiers that offers you a chance to play alongside other players located at a land-based casino.

Apart from Superior Roulette, Authentic Games also offer variants like Auto Roulette with 30 and 60 second intervals, Duo Roulette, where you can play two wheels at a time, and Roulette Turbo, among other games. And all of these variants can be enjoyed at Fortune Jack Casino.

The Roulette tables have betting limits that start with $0.5 and go up to $50 for a spin. The tables are streamed from a land-based casino in Batumi, Georgia, as well as other locations where the game provider has set up shop.  Some tables are offered around the clock while others only during selected times.

Apart from the live tables, Fortune Jack Casino has also added 13 new Microgaming games to its slot collection. Among the new additions is Microgaming’s latest Dream Date slot as well as other recent products like Adelia the Fortune Wielder. With these new titles, Fortune Jack now has over 400 Microgaming slots in its game collection. To try the slots or check out the Authentic Gaming tables, just click this link to pay Fortune Jack a visit.

BitCasino Adds Ultra-VIP, Single-Player Salon Privé Live Games

In the past couple of years, Evolution Live Gaming has emerged as a premier supplier of live casino games and a standard against which all other providers are measured. Two months ago, the popular game supplier unveiled a new line of games called the Salon Privé which is aimed only at VIP players. And now BitCasino has brought the full collection to its Bitcoin casino platform.

Offering a chance like no other live casino game, the Salon Privé tables are the ultimate VIP tables you can find online. Streamed out of Riga, Latvia, these tables give players a chance to enjoy single-player private games where no other watchers-by are allowed.

And apart from offering you a chance to play against the dealers by yourself, the Salon Privé tables will also offer you unprecedented control over you playing, including the option to change the speed of the game, ask for a shuffle, or choose your dealer. The only casino games offered for the time being are Roulette and Blackjack games but there might be others coming soon.

To enter a game, you will need to have a minimum balance of 200mBTC in your player account as that’s the entry bet for the cheapest table. If you have that kind of crypto-money to spend, head down to BitCasino and try the exclusive tables.

April 20, 2018: • No Comments

Gambling Tycoon Inks World’s First Bitcoin Cash Football Sponsorship

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Ayr United, a Scottish League One football club from Ayr, Scotland, has become the first football team in the world to be sponsored by a cryptocurrency. After being sponsored for seven years by the Bodog Casino brand, the football team is now changing its kit to promote Bitcoin’s offshoot cryptocurrency, Bitcoin Cash, although the source of the sponsorship remains the same – controversial gambling tycoon Calvin Ayre.

Sponsored and Paid by Bitcoin Cash

The new sponsorship of “The Honest Man” (nickname for Ayr United) was revealed in an official press release from the team and Calvin Ayre’s gambling portal on Monday, April 16th. According to the release, after seven years of promoting the brand Bodog Casino – which was launched by Ayre – has stepped aside and dropped the team’s sponsorship to make room for Bitcoin Cash to take over.

The deal was made possible through Coin Geek, another brand owned by Ayre, and it was likely the gambling tycoon himself that authorized and inked the deal. Starting with next season, Ayr United will be wearing kits that feature a “Bitcoin BCH” logo, which were once again promoted with a daring photo shoot with a female model and body paint.

Since the Scottish team plays in League 1, which is broadcasted by Sky Sports and BT Sports, the sponsorship is very likely to give Bitcoin Cash an exposure to many sport fans that weren’t familiar with the cryptocurrency.

Per the new deal, the Scottish club will also receive payments in BCH, thus becoming the first club ever to do so. Commercial Director of Ayr United, Graeme Miller, commented on the deal by saying that accepting sponsorship payments in BCH “was a big learning curve” for the management and club but that they are also delighted to be the first to not only take BCH payments but also promote the offshoot cryptocurrency.

Continuing With Controversial Promotions

Having a cryptocurrency sponsor a team could be very beneficial for the entire blockchain sector but is nevertheless a decision that is, well, a bit surprising. However, considering the man behind the deal, one could say it was to be expected.

Ayre, who was once a prominent supporter of Bitcoin and Bitcoin gambling has completely shifted to Bitcoin Cash since its inception and heavily promoted the cryptocurrency. Even in the official press release, one can find comments from Ayre like “BCH really is the only true bitcoin”.  Back in February, the gambling tycoon also announced that he plans to build a $100 million Bitcoin Cash casino resort.

But while his priorities are changing, it seems that his promotional tactics aren’t. When Bodog was the sponsor behind the team, it regularly promoted new kits each year with topless female models who wore body-paint that looked like the new shirt.

It all started in 2011, when the press launch that reveled Ayr United’s partnership with Bodog was attended by body-painted models. But after continuing the “tradition” for five years, Ayr United and Bodog were faced with criticism and potential charges after several complaints were made following the online release of photographs of a body-painted model wearing the team’s colors and the Bodog logo. However, it seems that the sponsor is no more bothered by backlash than it was in 2016.

April 18, 2018: • No Comments

BitStarz Expands Treasure Island; Pays 19.9 BTC Jackpot

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In the vast world of online casinos that support Bitcoin, BitStarz is definitely one of the few operators that are making a difference on the scene. A casino known for big wins and big player competitions, BitStarz often stands out from its competitors by creating a world of its own where players can immerse, stay busy, and reap the rewards for doing so. One of the latest expansions to this world is the addition of new islands to BitStarz’ unique Treasure Island player world but also the entry of a new player to the casino’s hall of memorable wins.

Bitstarz Player Hits 19.955 BTC Jackpot

A few days ago, the casino announced that another slot player was able to get extremely lucky at the slot games and hit a major win of 19.955 BTC on a single game. Only this time it was BetSoft’s Greedy Goblins slot that brought the payout.

A 5-reel, 30-payline Bitcoin slot that sports BetSoft’s easily recognizable 3D graphics, the Greedy Goblins comes with free spins, bonus rounds, and a progressive jackpot prize that can be won with a single winning combination. And despite what its name suggests, the slot proved to be very generous last week when it brought a $148.0263 payout in BTC equivalent to one lucky Bitstarz player.

Like many times before, the identity of the player isn’t revealed but one can see the username “maxmax31” listed in BitStarz’ “Top Winners” list. And what’s even more impressive is that this payout comes only a week after an Australian player struck the mother lode on an iSoftBet slot game and won a $45, 876 prize.

Treasure Island Gets a “€45,000” Makeover

When BitStarz launched the Treasure Island at the end of last year, the casino was likely not very sure about how popular the unique competition will be. But after several months of running the tournament and attracting many of the casino’s players, the Treasure Island became a staple at the casino. And now BitStarz has decided to up the stakes and improve the competition with a new way of distributing rewards.

Namely, unlike before when players had to compete against each other to win the Treasure Island’s prizes, now each player will be fully entitled to a €45,000 prize pool without having to share any of it. To make things even more interesting, BitStarz has also added new islands to the map through which punters can now progress. And sure, there’s no iPhone X to be won this time but you do have whole islands of prizes all for yourself.

The Treasure Island promo runs on a monthly basis and this leg will last until April 30th, after which the casino might decide to make new changes to the promotion or not. The beauty of it is that there are no special requirements to take part in the promo other than that you have to log in and play games using your Bitcoin balance. And as you play more, you will progress through the various parts of the island, earning different rewards with each new level you reach.

To learn more about the unique competition or try out BetSoft’s Greedy Goblins slot game, just visit BitStarz Casino and check out its offer.

April 13, 2018: • No Comments

Bitcoin Gambling Sites in Russia Not Really Used for Gambling

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With a country-wide ban on foreign gambling and betting sites in the Russian Federation, plenty of punters from the country have had to resort to various ways of bypassing local restrictions to enjoy wagering online. One of the common ways to enjoy gambling under the radar for Russian players was to resort to using Bitcoin online casinos and sportsbetting sites, most likely with a VPN service to cover one’s traces. But according to one Russia-facing betting site, such gambling platforms might not actually be used as they were intended to be.

Less than 20% of Bitcoin Deposits at PariMatch Used for Gambling

According to a new report from online gambling portal CalvinAyre, the use of Bitcoin in online gambling platforms that target Russian players isn’t always necessarily tied to wagering.  Namely, the media portal picked up a local interview with representatives from betting site PariMatch and found out that more than 80% of Bitcoin depositors on the site have never really used their deposited cryptocurrency to place a wager.

The interview was conducted with Ivan Lyashenko, who is the product director for PariMatch – a site that holds both a locally-licensed platform with a “.ru” extension as well as an international site with a “.com” extension and a license in Curacao. The local site doesn’t accept Bitcoin, per Russia’s law, but the international site does, which Lyashenko suggested didn’t make much difference to the operator.

According to the product director, over 300 users of the international site have deposited Bitcoin into their accounts since PariMatch introduced it in January. However, out of this number, only 50 users have made a wager on the website. Considering the site’s main language is Russian and its target audience is likewise local punters, despite being a separate entity from the local platform, Lyashenko believes that Russian punters are more interested in storing their Bitcoins rather than taking a gamble with them.

Bitcoin Criminalized in Russia, or Not?

During the past year, the government of the Russian Federation has had some conflicting ideas about regulating cryptocurrencies. First there was an all-out war on crypto assets announced in 2016.Then, the next year brought a change of heart and a warming up to cryptocurrencies, with promises on better regulation being reported on in April. And then, in February this year, reports came in that Russia will criminalize the use of Bitcoin as a payment method in order to protect the national currency – the Ruble.

But what’s interesting to note is that while the government is announcing harder regulation (expected to be set in place by July 1st), investors and users in the country don’t seem to be affected. Russia, like China, has a big mining community. There have even been reports on large-scale operations being set up in the country, including industrial premises being bought by notable businessmen.

At the same time, hotels in the Russian city of Kaliningrad are now reportedly working with cryptocurrency payment processors to allow the purchase of rooms in Bitcoin for the 2018 World Cup, despite the government’s recent warnings. But sadly, this hasn’t been the case with gambling with the cryptocurrency which is still monitored and strictly forbidden by the local authorities.

April 11, 2018: • No Comments