The price of Bitcoin (BTC) drops below $19,000 - a staggering fall of over 70% after reaching a record high in November 2021. Meanwhile, crypto gambling shows a remarkable rise despite this cryptocurrency's meltdown to lows the market hadn't seen since December 2020. What Lies Ahead for Crypto Coins? Enthusiasts claim that cryptocurrencies effectively hedge against inflation, but investors are naturally sceptical. As a result, Ethereum and Dogecoin have seen even more significant losses signalling an overall trend in the crypto market. Will the crypto market recover despite this brutal slide? Will cryptocurrency survive the enormous volatility? Faced with aggressive inflation hikes and a worsening liquidity crunch, investors are selling cryptos. As a result, the crypto market has suffered huge losses and two coins so-called stablecoins, Terra and Luna, have collapsed. With market losses of close to $500 billion, discouraged investors abandon the idea of crypto as an investment. So, let's face the fact: it's gambling, not investing. Crypto Online Gambling Thrives Ironically, the crypto gambling market is booming and seems undeterred by these shocking crypto market disturbances. Betting platforms are welcoming digital currencies, and dedicated crypto casinos are trending. Award-winning operator BGaming recently included Crypto SNACK as a payment method. Snack is the world's fastest-growing iGaming token, the first crypto to specialise in online gambling, and a faster and more cost-effective means of transacting online. Using a decentralised payment method in the gambling industry benefits both the operator and the player. For example, crypto betting offers improved security and faster transaction speed at a much lower price. Crypto Gambling is still in its early days, and we can expect several improvements. Mobile integration is a priority and vital for the future of online gambling. Blockchain-based solutions will become more widespread and easier to implement. It's Not a Crash - it's Natural Selection. Ryan S
Did you know that there is a national Problem Gambling Prevention Week held annually in Ontario? Called "Within Limits" and sponsored by the Responsible Gaming Council (RGC), it is a joint effort between local organizations across the region. Providing a full calendar of interactive displays, activities, and advertising, it reaches over 3 million households a year! Starting off with a bi-lingual (French and English) website, the RGC has an interactive, flash based game to help people recognize the triggers and symptoms of problem gamblers. It is aimed towards all age levels with graphics and point and click features. There is a "community events" calendar that lists exact places, times and dates of the events making it very easily accessible for any person to join in. Also included online is a treatment center locator, usable by entering in your postal code. In addition, visitors are able to read personal testimonials from people all over Canada and how they received help and why. Finally, there are download-able brochures in 17 different languages, ranging from Chinese, Farsi, Polish, Russian and Tagalog - meaning everyone can have access and there are no excuses about language barriers. So it's time to check your blind spot and stay Within Limits and take part in a non-judgmental and informative week aimed at helping people recognize and treat problem gambling. Whether for yourself, your family or friends, it's not an event to be missed!
As in most parts of the world these days, online gambling in Canada is a growing industry. However, whether online gambling in Canada is legal is actually still a bit of a grey zone. Luckily for Canadian players, however, online gambling licences are available in Kahnawake. The Kahnawake regard themselves as a separate, sovereign nation to Canada and so its laws are not applicable to them. This means that the debate about whether online gambling in Canada is legal or not, doesn't apply to them. Kahnawake is an Indian reserve in Quebec and has its own Kahnawake Gaming Commission. In 1999, the Commission passed regulations to ensure that only suitable entities were allowed to operate, that games are fair to players and that winners are paid ... which can only be good news to the ears of Canadian players! The Mohawk Internet Technologies (MIT) hosts and manages all sites and is regarded as the closest and fastest source of 'legally hosted' gambling websites for players from the US and Canada. The Kahnawake Mohawk Nation has actually operated its own online casino since 1999 and generates an impressive annual profit of $2 million. How does Canada deal with online casinos?Unsurprisingly, governments around the globe have adopted different approaches to online gaming. For example, the United Kingdom decided to regulate and tax online casinos whereas the United States headed the exact opposite direction and totally prohibited online gambling in an attempt to wipe it out altogether. Canada, however, has chosen until now at least, not to pass any regulatory legislation. This lack of online gaming regulation in Canada means that not only that the government is missing the boat on millions of dollars of revenue in tax but that protection for Canadian gamblers questionable. So for now it's probably a safer bet to stick to online casinos hosted by the MIT.
The implementation of the effective ban on Internet gambling in the United States has been delayed by half a year following an announcement Friday by the Treasury Department and Federal Reserve. The two agencies said the rules, which were supposed to come into effect on Tuesday, would be delayed by six months until June 1 next year. The outgoing Bush administration had passed regulations to enforce the 2006 Unlawful Internet Gambling Enforcement Act shortly before leaving office at the end of 2008, and had set December 1 as the date in which financial institutions would have to begin enforcing the law, which outlawed the transfer of funds from financial institutions to gambling websites. But the latest move came following heavy opposition from pro-gambling groups and from the financial industry, which sought a one-year delay on the implementation because it said the law was not clear on what constitutes online gambling. The Treasury and Federal Reserve said in their joint statement that several Congressmen had pushed for the delay on the basis that there was enough support for new legislation trying to clarify the uncertainty over the UIGEA. Democratic congressman Barney Frank, who recently introduced the HR 2267 and HR 2266 bills in a bid to overturn the UIGEA, backed the delay, saying: ""This will give us a chance to act in an unhurried manner on my legislation to undo this regulatory excess by the Bush administration and to undo this ill-advised law."
Disappointed that Canada's not in the World Cup and looking for some way to feel a part of the action? Well you can still get involved by wagering on the outcomes, and a good place to start would be the mini site Victor Chandler Sports has set up specifically for the tournament. As well as all the odds, the site includes information on the match schedule and on all the stadia, has video content and features profiles of all 32 teams. Eight "teams to watch" feature prominently on the site, including tournament favorite Spain, reigning champion Italy, and host South Africa. As for the actual betting, eight teams are in with a realistic shot of winning the tournament, if the odds are any indication: Spain, 4/1, leads the way, followed by Brazil, 9/2, and England and Argentina, 7/1. A little further back are the Netherlands, 11/1, Germany and Italy, 14/1, and France, 18/1. Of course, there are plenty of other betting options, with Victor Chandler offering odds on the outcome of all eight groups, on every individual match, and of course on individual awards such as the golden boot for the tournament's top goalscorer. With the tournament beginning on June 11, there's plenty to think about before placing that bet.
Another big payout was rewarded at the All Slots online casino this week when British Columbia resident Lynne R. hit the $25,000 jackpot on the classic 5-reel slot game, Totem Treasure. It was fitting that the prize went to a Canadian given that the 5-reel, 5-payline slot features First Nations-themed images including eagles and tepees. Lynne R. claimed the huge jackpot after lining up three tepees and two lucky wild symbols on the fifth payline. David Brickman, deputy chief of Player Affairs at Jackpot Factory - which operates the All Slots Casino - said the company was "really happy for Lynne" as she had been a long0time customer. "With Canada Day right around the corner, I'm sure this jackpot will give Lynne even more reason to celebrate," he said. Powered by Microgaming and accredited by eCOGRA, All Slots markets itself as the web's biggest slots-based casino, offering more than 400 online casino games with a special emphasis on slot machines. To add to its appeal, the All Slots Casino currently has a running jackpot total of more than $6 million and growing.
The British Columbia Lottery Corporation launched its long-awaited online casino, becoming the first ever state-sanctioned online casino in North America. The long-awaited launch proved so popular that the site, Playnow.com, experienced server temporary server problems that brought it crashing down and also caused difficulties on the front page. Although the traffic count is yet to be reported, reports have it somewhere in the tens of thousands from the first few days of operation. The site was built to combat the trend of illegal offshore gambling, which BC Housing and Social Developing Minister Rich Coleman said is worth $100 million a year. Speaking at the launch of the website, Coleman also said that there are around 2,000 unregulated online gambling sites, of which "not one is accountable to the residents of British Columbia, not accountable to the players that play on their sites and not accountable to the laws of this country." Playnow.com will include blackjack, craps and baccarat and will raise an estimated US$40 million in annual revenues. Poker is expected to be added next year. The provincial government has also put in place several measures to encourage responsible gambling, including deposit limits that players can set for themselves.
Loto Quebec, the official lottery agency of Canada's second most populous province, is set to launch a new online casino on December 1, just in time for the busy holiday season. The new casino espacejeux, which follows in the footsteps of the online casino established recently by the British Columbia Lottery Corp., aims to provide Quebec residents with a responsible alternative to the more than 2,000 plus gambling sites they already have to choose from on the web. The casino will initially offer slots, blackjack, roulette and other casino games. Online Gambling in Canada Online gambling is a $1 billion-per-year industry in Canada, so the new casino will no doubt also raise much needed revenue for the provincial government. The goal, according to Loto-Quebec CEO Alain Cousineau, is to raise more than $50 million in revenues each year. In July, British Columbia became the first Canadian province to run an online casino when its lottery agency launched the expanded version of its playnow site, which at the time had 140,000 registered members. Ontario and Prince Edward Island have also announced their intentions to follow the British Columbian example, although some provinces remain against the idea, most notably Manitoba and Nova Scotia.
The Ontario Lottery and Gaming Corp. is planning to follow the lead of its Quebec and British Columbia counterparts and launch its own website in the near future. Despite the criticism faced by Loto-Quebec over its recent venture, Ontario's provincial gaming monopoly looks increasingly likely to make a similar move that would see it capture a share of the estimated $400 million Ontarians spend each year on offshore Internet gaming sites. Protecting Players The news comes as OLG last week confirmed its commitment to responsible gambling by announcing that it will install facial recognition systems at all 27 of its land-based establishment in 2011, according to local news reports. This increased commitment to tackling problem gambling hasn't stopped criticism from growing in neighboring Quebec, where anti-gambling advocates are calling for a boycott of the province's new online casino. Keep It Legal A spokeswoman for Loto-Quebec slammed the critics, saying the boycott campaign would merely drive gamblers back to illegal sites that do nothing to encourage responsible gambling. The new website, espacejeux, was launched on December 1 with the aim of providing a responsible alternative to the more than 2,000 plus gambling sites Quebec residents can choose from on the web. Espacejeux.com is currently offering slots, blackjack, roulette and other casino games to residents of the province only.
All Slots online casino has shown why it is one of the most dynamic gaming portals on the web, launching another four new games in February. Rhyming Reels: Queen of Hearts is a slot for the young at heart, based on a nursery thyme theme. Throw in 2,400,000 coins maximum winning and you have yourself a winner. The Queen of Hearts logo is Wild and doubles all wins when it appear on the slot machine's 5 reels. Other winning symbols include the knave, serving maids, jam tarts and oven gloves. Sneak-a-Peek: Planet Exotica is a cheeky 5-reel, 15-payline online slot game with a strip club theme. Yes, strippers and sexy music. Complete with all the usual free spins, bonus games and online jackpots, symbols include five exotic space babes as well as the bouncer, bartender, valet parking, cash and cocktail. Ruby of the Nile is an Egyptian-themed 5-reel, 20-payline slot with big payout potential. (All Slots hit the Egypt-nail on the head with this timely release.) There are two wild icons, four scatters and up to 20 Free Spins opportunities in this game. Multi-Wheel Roulette is the last game to be released: a roulette game that allows players to bet on up to eight wheels simultaneously. The graphics, and the mere concept of this game are revolutionary and cannot be exaggerated. Part of the Microgaming Gold Series of games that also includes many poker and blackjack variations, this game comes with realistic graphics and improved sound effects.