New industry incumbent Luckbox, has confirmed that it has become the ‘first cryptocurrency-supported esports betting platform to be awarded an operator licence by the Isle of Man government.’
Luckbox secures its IOM licence through holding company Real Time Games Limited, which received an Online Gambling Regulation Act (OGRA) accreditation, issued by the jurisdiction’s Gaming Supervision Commission.
“The OGRA ensures operators comply with the strictest levels of jurisdiction, offering players the highest level of safety and security.
Luckbox chose the OGRA licence as it is regarded among the most reputable gambling licences in the world, requiring all player funds to be held in mechanisms that guarantee players’ monies, ensuring if an operator goes into liquidation, player funds can be repatriated to the player” details Luckbox in its latest communication.
Furthermore, the OGRA licence permits Luckbox to accept fiat, crypto and in-game items as currency when transacting with players. Other betting companies that hold an OGRA licence include brands such as PokerStars, FullTilt, SBO, 188Bet and Quanta
Luckbox CEO Lars Lien said: “This is a significant milestone for our project.
“As well as building an industry-leading product, having a top-tier licence is what sets us apart. It offers the best protection for players and opens up fantastic opportunities for us as a business, not least enabling access to compliant marketing channels, the ability to be listed on mobile app stores, as well as accessing traditional gambling infrastructure developed over the past two decades.
“Having received the OGRA license, established a brilliant development team and now being confident with our infrastructure partners, I am confident we will deliver an amazing product early next year that will be very hard to copy. All in all, it’s fantastic news for the team and all those who have supported us so far – we are so grateful for your help.”