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Unikrn wins Isle of Man crypto and real-money betting license

Published 2 years ago

Unikrn wins Isle of Man crypto and real-money betting license

CalvinAyre via

esports betting operator Unikrn has received a license for both cryptocurrency and real-money online gambling from Isle of Man gaming regulators. On Tuesday, Unikrn CEO Rahul Sood published a Medium post celebrating his company’s “biggest launch since 2014,” aka “the world’s first and only blockchain-based live wagering backend with regulated real-money and crypto betting.” Unikrn Limited is now listed as a license holder on the Isle of Man Gambling Supervision Commission website, adding to Unikrn’s real-money online gambling license from the Malta Gaming Authority.

Sood (pictured) claims his company’s Unikrn Jet backend can handle 9,000 bets per second and passed a recent UK market test in which the platform took wagers on a UFC event using its proprietary UnikoinSilver token. Sood says Unikrn will offer esports ‘spectator’ betting in Europe, South America and Southeast Asia, while US esports players will be limited to betting on their own gameplay versus other players (and only with UnikoinGold) in the 41 states in which ‘skill-based betting’ won’t get you thrown in Leavenworth. Sood told VentureBeat that Unikrn had passed “a major audit” by the IOM regulators to ensure its know your customer (KYC), anti-money laundering (AML) and digital wallet practices were up to scratch.

Sood emphasized that its IOM news was “not just announcing a license. Unikrn previously established a foothold in the Nevada casino market by organizing esports competitions at MGM Resorts properties and Sood hopes to soon be offering crypto-based betting at these and other US casino venues as regulations permit. Sood told the Associated Press that Unikrn’s IOM license meant there is “finally a legitimate, regulated operator in the space that has a pretty competitive offering.” Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full