EOS
$1.85 -9.94%
EOS · 4d

EOS Gambling dApp Receives Gaming License in Curaçao

EOS Gambling dApp EOSBet has announced that Curacao’s online gambling industry regulator Curaçao eGaming has granted it a gaming license.

In an announcement posted on its official blog, EOSBet revealed that the accreditation will enable it to offer all existing forms of interactive online gambling under the regulator’s Master Gambling License issued by Curaçao’s Ministry of Justice.

With the announcement, the platform which prides itself as the oldest EOS gambling dApp and one of the most popular decentralised gambling platforms has achieved another milestone in its strategy to make itself a fully licensed and legitimate gambling platform. It now becomes the only fully licensed EOS-based gambling platform.

What This Means for EOSBet

According to the platform, the benefits of Curaçao eGaming’s decision to grant EOSBet a license largely revolve around increased stakeholder confidence and enhanced credibility and trustworthiness all round. In particular, the move permits the platform to establish what it describes as “important banking relationships” as well as enable it work with larder and better recognised partners.

It will be recalled that EOSBet suffered a damaging public hack in September that negatively impacted on user and investor confidence. At the time, CCN reported that the platform lost 44,427.4302 EOS worth $236,000 after a hacker exploited a flaw in its code that made it possible for funds to not be deposited to the smart contract.

With the granting of an official regulatory license, there is also elimination of the possibility of the domain being seized or the platform being shut down for operating outside of legal permissions. Significantly, the possession of a license from a recognised government entity will substantially improve investor confidence in a space that has already seen quite a number of exit scams.

Impact on EOSBet Future Plans

In the announcement, EOSBet revealed that while users’ eve...

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