Curaçao Grants EOS Gambling dApp Gaming License



Last Updated: December 5, 2018 at 1:25 PM EST
EOS Blockchain

EOSBet, the decentralized gambling app of EOS, has made an announcement stating that it has been granted a gaming license by Curacao’s online gambling industry regulator, Curaçao eGaming. The publication was made on the dApp’s official blog, and it divulged that the gaming license issued to the decentralized app by the industry regulator would allow for free access to offer features associated with interactive online gambling.

What the Gaming License Means for EOSBet

EOSBet boasts that it is the premier EOS gambling decentralized app and one of the most known decentralized betting platforms on the blockchain. With the official release of this statement, the platform has taken a huge step in the bid to gain a full license and become a legitimate gambling platform. As of now, EOSBet remains the only EOS-based betting platform to have a full license.

The license grant for EOSBet heralds a new era for the platform, and decentralized gambling platforms as a whole as stakeholders will gain massive assurance in EOSBet’s vision. It will also further the gambling platform’s stride as with the legalization of EOSBet; itcan now be associated with better-recognized partners and have improved working relationships with financial institutions.

Worthy of note is the fact that there was a hack on EOSBet in September this year, an occurrence that damaged confidence in investors and users. It was reported at the time that the gambling platform made losses of up to 44,427.4302 EOS which amounts to over $236,000 in value. The hack was as a result of an error in its code which allowed for funds not being deposited into the smart contract.

The grant of the license has also eroded any possibility which could lead to the domain name of the platform being sized or shutdown of operations. Investor confidence will also be boosted which is needed for fundraising as there have been a lot of ICO scams in the recent past.

EOSBet’s Token Listing on a Major Exchange

On EOSBet’s official release on the blog, the gaming platform stated that its Dice and Baccarat games would continue being offered and urged users not to fear as no change in gaming experience will be met with. It further added that the license would allow them to add features more swiftly. In the past, when the EOSBet developers needed to update the dApp, the platform took it slow due to some undisclosed reasons. The gaming license will now speed up updates and feature changes which include a Baccarat game overhaul, a new cohesive site, a player resource troubleshooting fix and a fixed token airdrop schedule.

The gaming license has also increased the chances of BET, the EOSBet token to be listed on a major exchange. EOSBet divulged that discussions on the listing of its token are still ongoing with some exchanges including an exchange in the ranks of the top 3 crypto exchanges. Currently, the only way to gain BET tokens is by placing bets on the platform. The tokens are also not able to be transferred, and this has been stated by the team to allow for easy listing on a top exchange.