Kelley N. | BitcoinPoker.us

Former Poker Pros Raise $130M for DeFi Market

Posted on August 4, 2021August 3, 2021 by Kelley N.

The gambling and digital currency ecosystems are increasingly becoming intertwined in ways that would not have been imagined. This is partly because of all the interest and buzz that the sectors have been amassing as they continue growing. One of the most recent and most notable developments in this regard is a venture by Ascensive Assets, an investment firm that is led by ex-professional poker players.

The investment fund has been able to raise a whopping $130 million fund. This is aimed at taking on the rapidly growing decentralized finance (DeFi) market. It is not the first time that the firm is taking its chance on the market. In 2019, it managed to raise $24 million, a move that was backed by notable brands like Benqi, JennyDAO, Polkaswap, and Yield Guild Games.

Most of Ascensive Assets’ investors are high-net-worth individuals from Asia who are connected to the world of professional poker and gambling. This is not too surprising but it certainly represents an increasing level of interest in the burgeoning DeFi sector.

The Investment Plans

According to Ascensive Assets partner Oliver Blakey, the firm already has plans for how the fund will be utilized. About 30 percent of the fund will be used to invest in early-stage startups. The remaining amount will then be used to strengthen their investment from the first fund. There are, of course, elements of uncertainty. Still, that is a norm in the world of investments. Gambling is also clearly entrenched in the firm’s DNA.

“We have made some awesome investments; we’ve also made some terrible ones. I think about this industry as a kind of hybrid of venture capital and a hedge fund; it’s somewhere in the middle,” Oliver Blakey commented.

It will be very interesting to see how all this pans out for the firm. The confidence that they have might be an indication of where the sector is headed.

The Future of DeFi

Decentralized finance (DeFi) has had a resurgence recently and it is growing fast. Initially, decentralized finance was adopted mostly by smaller businesses. However, now it seems like the larger players in the transaction banking industry see it as a significant growth area. The technology has proven to be a great way of strengthening existing market trends. These are particularly good for permissionless access as well as interoperability.

Going forward, we can expect a lot more adoption of the technology. Many big names are warming up to it and that should be enough to take it all to the next stage.

FUNToken.io and Intertops Organize Crypto Poker Freeroll Event

Posted on July 4, 2021July 3, 2021 by Kelley N.

This holiday weekend has been filled with lots of niceties, especially for gamers. For crypto and casino game enthusiasts, it has been even more fun. Poker players have been treated to quite an amazing experience thanks to the largest cryptocurrency poker freeroll event that comes to an end today, July 4.

Intertops, one of the biggest online gambling platforms on the planet, has recently partnered with FUNTokem.io, and together they have made history with the freeroll event. Hosted by Intertops, the tournament featured daily satellites all leading up to the July 4 final table.

“We’re very excited to have our first poker freeroll for FUN tokens hosted by one of the longest established i-gaming sites, Intertops.eu. And we’re working with Intertops to explore further integration with the Fun token on their site in the future,” FunToken.io Adriaan Brink commented.

For many poker lovers who also have interests in crypto, this was a great opportunity for them to claim thousands of free FUN tokens. These are very lucrative to own and are tradeable in major digital currency exchanges like Binance, BitFinex, HitBTC, and Changelly among others.

Huge Win for Gambling and Crypto

As mentioned earlier, Intertops is no stranger to the world of gambling. The operator already boasts of offering up to 4,000 daily wagers to customers from all around the globe. It also has a solid reputation having paid out over $500 million in winnings to its customers. The opportunity to host a crypto poler freeroll event thus presents it with a unique opportunity to tap into that market.

For FUNToken, partnering with Intertops is a great way of reaching even more gambling enthusiasts. The digital asset is already an established one-stop gaming token that makes online gambling much easier to finance and integrate. Its best traits are that it provides a clear and provably fair method of funding. This has enabled the token to revolutionize the way that online casino operators hand important operations like deposits, withdrawals, transactions, and even loyalty points or rewards.

The crypto sector continues to prove that it is more than ready for mainstream adoption. While it has certainly come a long way, it is not where we all want it to get to. At least not yet. With such collaborations and events, more people will be able to see the viability of digital currencies as ways of funding gambling activities and modern means of exchange. This is just the beginning.

Virtue Poker to Hold Celebrity Charity Poker Tournament

Posted on June 4, 2021June 1, 2021 by Kelley N.

Renowned blockchain-powered poker platform Virtue Poker is looking to deliver yet another win to the crypto-ecosystem thanks to an upcoming poker tournament. The company will be celebrating its recent launch and developments through the poker tournament which is expected to go down sometime in early June. Having been under development for five years, the Phil Ivey-led online poker operation has so much going for it and it is all about to get even better.

Lots to Look Forward To

Virtue Poker did not seem to have much of a problem pushing its upcoming celebrity poker tournament. Backing the venture are some very well-known industry investors including Pantera Capital, ConsenSys, and DFG Group among others, all of whom could further help solidify its credibility. That said, the no-limit Texas Hold’em poker tournament will be a great launchpad for the company’s ambitious plan for the industry.

Already there is a solid lineup of people that are expected to attend. These include celebrities, influencers, and many poker industry leaders. Most notably, Phil Ivey who also happens to be a Poker Hall of Famer will be among the people that will grace the poker tournament. Other notable figures that will be participating in the tournament include the Virtue Poker Pro team, Ethereum Co-Founder Joe Lubin, Founder and CEO of Ethernity Chain Nick Rose, and NBA Hall of Famer Paul Pierce.

“Virtue Poker is excited to take this next step to drive awareness and adoption of the world’s first blockchain-based P2P poker platform. Through our partnership with SuperStarter and our execution of our Celebrity Poker Charity event, Virtue Poker will be able to grow our community’s foundation as well as showcase the platform to a broad audience,” Virtue Poker CEO Ryan Gittleson.

The winner of the planned tournament will get to decide on a charitable organization that will receive the proceeds from the event. Virtue Poker will also issue all of the celebrity participants with NFTs and these will act as bounties of sorts during the tournament.

Where to Catch the Action

For anyone that will be interested in watching all the action that will go down during Virtue Poker’s tournament, look no further. The operator will be broadcasting the even as it unfolds on Twitch. In addition to that, fans of the participants will also be able to watch on the channels of these players.

Crypto giving back to the community is certainly a good thing but this is also bound to mark yet another huge leap for crypto and blockchain as they move towards mainstream adoption.

Atari Launches Crypto Casino on Decentraland

Posted on May 4, 2021May 2, 2021 by Kelley N.

Atari is arguably one of the most iconic and most recognizable brands in the world of gaming. However, the company has had some ups and downs over the past decade or so, a situation that has forced it to find other ways of keeping the business going. A few years ago, crypto and blockchain would seem to be the most unlikely of places for the company to venture into but that is no longer the case. Now, it is full steam ahead for Atari’s new blockchain division.

In early March, Atari announced its plans for an Ethereum blockchain casino in partnership with Decentral Games. For this venture, the video game-turned-casino company planned to feature a range of nostalgic games and Atari non-fungible tokens (NFTs), both of which its users can be leveraged to earn more digital currency. This, they projected, would bring over $150 million in 2021 and $400 million over two years.

Last Thursday, all those plans finally paid off when Atari finally held a virtual launch party for its new crypto casino project. The branded casino launch party featured DJ and Produce Dillon Francis who played a live set and went to participate in a huge sale.

The NFT Sale

One of the biggest highlights of the launch party was the sale of non-fungible tokens (NFTs) which, as mentioned above, Dillon Francis also participated in. The special NFTs that the DJ sold was a collaboration between him and renowned visual artist MERDA. All three NFTs that they collaborated in creating were inspired by Gerald the Pinata which, as it turns out, contributed to their value immensely.

The auctioning of the NFT was done on OpenSea as well as other platforms where they fetched thousands of dollars in crypto. The “3D Pixel Gerald,” for instance, sold for 6.42 ether (ETH), the equivalent of $17,788.

What Next for Atari?

While this is an exciting new venture for the Japanese video game company, it has no plans to abandon its roots. According to its officials, Atari will continue to operate and develop its successful free-to-play mobile games. They will, however, be shifting new development to console and PC, with “an emphasis on revitalizing classic Atari intellectual property for the modern era.”

That said, it will also leverage the unique position of its brand name in both gaming and non-gaming-related fields (including hotels and casinos). If the success in licensing the Atari-related brands for use in NFTs over the recent past is anything to go by, this might just work.

BetMGM’s Online Poker App Now Available on Google Play Store

Posted on April 4, 2021April 2, 2021 by Kelley N.

Finding real money gambling apps on official application stores has always been quite difficult. However, things are beginning to change especially for gamers who own Android-powered smartphones and tablets. Google has been changing some of its policies with regards to allowing real money betting apps on its platform – at least in some jurisdictions – and operators are starting to step up to take advantage of the changes.

In mid-March, BetMGM became the very first real money online poker app to become available on the Google Play store. This first became available to poker players in New Jersey who could now easily access the operator’s offerings right from their mobile devices.

More to Come

Now, the launch of an app on the Google Play store might seem to be much of a big deal especially considering how many social gaming apps are already available. However, real money gambling apps remained prohibited on the Google Play store for a very long time. This change thus marks a landmark shift for the gambling sector in various jurisdictions.

For the operators, the change means that they will now be able to deliver their services to even more people in a more streamlined and simple manner. Their customers will no longer have to download any installation files or use the mobile versions of their websites which are more often than not less polished when compared to native apps.

For the customers, there is likely to be even better gaming experiences. For instance, as the number of BetMGM’s poker app users continues to rise, the operator will work hard to retain them. As such, the players can expect more interesting features, design improvements, or optimizations as well as other value-additions to make their poker gaming adventures all the more engaging.

A Few Concerns

Naturally, the decision by Google to change some of its policies is accompanied by certain implications – most of these have already been pointed out by several concerned parties. By opening the floodgates, it could be safe to assume that the company is prepared to deal with all of the issues.

Perhaps one of the things that customers will need to be vigilant about is the proliferation of copycat apps on the application store. This has been a problem in the past but companies have found ways of dealing with it. Hopefully, BetMGM is already implementing mechanisms to make it stand out lest it gets confused with pretender apps.

Online Gambling Rise Continues Amid Surge in Crypto Activity

Posted on March 4, 2021March 3, 2021 by Kelley N.

The past couple of years or so have been monumental to the growth of arguably two of the most important sectors in the world right now. Crypto and gambling have both proven that they are here to stay time and again but we would understand if you are still skeptical. Speculations and predictions seem to be all the buzz but one undeniable thing is the significant effect the two sectors are having on each other and the rest of the world.

Several digital currencies have over the past couple of months been enjoying new streaks of popularity. Bitcoin, for instance, has recently reached record highs of over $50,000, something that nearly no one saw coming. Its price is however not the only thing that we are interested in – these price surges have been one of the main drivers of the growth in popularity that bitcoin and other cryptocurrencies have been enjoying lately.

As it turns out, it is not just individuals that are jumping on the bandwagon. Several institutional investors have begun to take the sector very seriously which goes to show just how big of a ripple effect the price surges have had on the global economy.

Still, very few industries have benefited from the crypto boom as much as gaming and entertainment companies. Gambling has long been one of the most popular sectors and with its stakeholders showing a lot of enthusiasm when it comes to adopting new technologies, its utilization of crypto and blockchain technologies was always bound to happen.

Big Promises

When cryptocurrencies first became a thing, no one would have imagined that these tokens along with the related technologies would have such wide-ranging use-cases. Gambling companies, however, seized the opportunity as many of the things that the crypto was promising would be immensely beneficial to their businesses.

Perhaps the most notable aspects of crypto that have been pushing its adoption in gambling are decentralization, transparency, and safety. In essence, they have created what can only be described as an online gamblers’ heaven where the games are provably fair, the transactions are cheap and fast, and the user data is completed protected.

Now, not all gaming companies have been quick to make some of these changes especially considering how volatile the crypto market often gets. Still, it is very important to acknowledge just how far we have come and how close we are to finally achieving the dream of a whole new financial system. One that is not only safe but also fair and reliable.

PokerStars Launches Its Operations in Michigan

Posted on February 4, 2021February 3, 2021 by Kelley N.

Poker enthusiasts in Michigan have had to endure a long wait for the launch of online poker since online gambling was legalized in the state over a year ago. Well, the wait is finally over as Michigan has recently officially become the fifth state in the country to offer legal and regulated online poker. As expected, this is a pretty lucrative market and already some of the biggest brands in the sector have already made a play for the sector.

World-renowned online poker operator PokerStars became the very first poker brand to go live in Michigan. The company’s efforts to offer its world-class services in the state received the backing of FOX Bet and Stars Casino both of which are also pretty notable brands in the world of gambling.

For the venture in the newly-regulated online poker market, PokerStars and its affiliate companies partnered with the Little Traverse Bay Bands of Odawa Indians Gaming Authority.

A Rocky Start

There was of course a lot of excitement when PokerStars announced that its poker offerings would be coming to the state. However, a little adjustment period may have been needed as the company tried to figure out the new market and iron out a few bugs. On the first day of online poker gaming on the site, there were a few notable glitches.

These glitches mainly affected the users’ ability to add funds to their accounts which would have been disastrous at any other time. However, this has since been fixed and new players can go in with confidence that such issues will not taint their experiences.

PokerStars even went as far as offering some very exciting promotions to welcome poker lovers in Michigan to their new offering. The most memorable one was a 100 percent deposit bonus – the minimum amount required to claim this was however on the higher side at $600.

Very High Hopes for The Industry

As mentioned earlier, the state has very high hopes for the online poker industry and by extension the online gambling sector as a whole. PokerStars’ entry into the market makes things all the more exciting given its stellar reputation.

According to Richard Kalm, the executive director of the Michigan Gaming Control Board, revenue generated from the newly launched sector will have a huge impact on several projects in the state. The money will go into such things as education, support for the tribal communities as well as further development of Detroit.

High Hopes for Bitcoin in 2021 As It Soars to Record-Breaking Heights

Posted on January 4, 2021 by Kelley N.

The world of crypto was one of the few areas that were not as adversely affected by all that happened in 2020. As a matter of fact, it is safe to say that the sector even went on to balloon as more people had time to get acquainted with it and chose to go with it as a safe haven of sorts. Perhaps the biggest success story is that of Bitcoin which has been enjoying a lot of great publicity towards the end of 2020 and during the first few days of January 2021.

On Monday, Bitcoin traded at $33,365 which while still very impressive is over $1,000 short of its record high of a whopping $34,800 – the digital currency hit the record high on Sunday, January 3. Needless to say, this is a huge milestone for the digital currency especially because its current price is an increase of 800 percent from its price in Mid-March. That was right before the pandemic began to wreak havoc in many parts of the globe.

High Hopes for 2021

As the world struggles to get back to how things were before the coronavirus pandemic hit, the world of crypto seems to be gearing up for an even better year ahead. Now more than ever more people are well aware of the benefits that crypto has to offer and that seems to be driving the insatiable appetite for digital assets such as Bitcoin.

One of the reasons why Bitcoin has taken center-stage can be attributed to its supply cap which many believe is a hedge against the risk of inflation especially now as some government and central banks turn on stimulus taps. Moreover, fears of a weaker dollar have led investors to look for safe-havens comparable to gold – Bitcoin has fitted that bill for lots of them.

According to experts from Fundstrat, an independent financial research firm, all that is happening right now in the world of crypto may have already happened back in 2017. The same “parabolic rise” we witnessed back then is making a comeback albeit on a much larger scale.

“We believe the conditions remain in place for a continued rally in bitcoin and crypto more broadly over the next 6-12 months. Institutional and corporate buying, regulatory de-risking, and retail stimulus demand are factors that have led to an increase in positive momentum, which we believe can continue.”

David Grider, Fundstrat’s digital asset strategist.

For any crypto-related business, 2021 is certainly going to be an interesting year. Besides the anticipated growth, there is a lot of optimism that crypto could finally get the mainstream attention it deserves.

Poker Players Capitalize on Bitcoin to Enhance Their Winnings

Posted on December 4, 2020December 1, 2020 by Kelley N.

Bitcoin has been on a roll of late and it is not just crypto enthusiasts that have taken notice of the surge in the digital currency’s price. Now, several successful online gamblers have begun to capitalize on the bump by cashing out using Bitcoin from their favorite poker sites.

Some of the sites that this has been happening to include the AmericasCardroom.eu and its sister sites under the Winning Poker Network (WPN) umbrella. The renowned poker operator has had to buy millions of dollars’ worth of Bitcoin in recent weeks to cater to their users who want to cash out using the digital currency.

Winning Poker Networks Chief Executive Office Phil Naggy revealed that about 90 to 95 percent of their users are now asking for payouts in Bitcoin simply because of the rise in the cryptocurrency’s price.

“We are constantly having to go out and buy Bitcoin — lots. Lots. More than we’ve even had to before,” the CEO commented.

The high demand for Bitcoin is not entirely a new thing but it does represent some pretty interesting dynamics for the online poker sites that are involved as well as the iGaming industry as a whole.

Cause for Concern?

Even though the sites that are seeing the massive surge in Bitcoin payouts are not legally available in the United States, most of the customers are actually Americans. Now, offshore gambling is not entirely unheard of in many states even those where online poker is still illegal. However, since crypto is involved, much more can be read from the situation.

Perhaps one of the biggest concerns is that crypto enthusiasts may be using the online poker platforms as a means to evade taxation. To put this into perspective, the Winning Poker Network which is based in Costa Rica does not regulate certain aspects of their customers’ activities. The most notable one in this regard is the winning and losses – the players are allowed to file their winnings and losses on their own. There is no guarantee that they will file the right figures in this case.

Moreover, the current activities also come with some issues for the online poker operators that have integrated crypto payment methods. Bitcoin is still not considered to be fully stable, at least not yet. That said, the operators are always stuck with it regardless of the situation. As Phil Nagy points out, in cases where Bitcoin’s price drops, their uses who have Bitcoin usually send them to the operator since this is more often than not the fastest way to liquidate the digital tokens.

PokerStars Pennsylvania Celebrates Anniversary with Tournament Series

Posted on November 4, 2020November 5, 2020 by Kelley N.

It has been one whole year since PokerStars made its debut in the Keystone State. Since its launch, the online poker platform has recorded very strong numbers in terms of revenue as well as the number of visitors. More and more players have been welcomed to the platform and with the pandemic, there was a significant surge in traffic which further cemented PokerStars’ position as the go-to online poker destination for poker lovers in the Keystone State. This can also partly be attributed to its monopoly in that particular marker – this is, however, set to come to an end very soon as other online poker operators are already making plans to join the state’s gaming market.

Meanwhile, PokerStars is marking its 1st anniversary in the state by offering its customers the chance to participate in a fun and exciting tournament series that will be running all through November. Referred to as the Pennsylvania 1st Anniversary Series, the event series will run from November 8 to November 15. During this period, poker players will be able to play across 35 events for a chance of winning a portion of the $1 million guaranteed prize.

The Highlights

The schedule for the tournament is pretty packed to make sure everyone gets a chance to participate. The main highlight will, however, be the $100-entry Main Event which boasts of a guaranteed prize pool of a whopping $200,000.

In addition to that, there are lots of other exciting events that players can participate in. The operator has made it easy for the customers to grab over $10,000 in tickets to the events. These can be grabbed in seven freerolls and players can qualify for those for as little as $1.

Some of the other notable events on the massive schedule include the $100 Sunday Special that will go down on November 8. This has a guaranteed prize of $100,000. There is also the ‘Mini’ Main Event that will go down on November 15 and carries a guaranteed prize pool of $25,000. Moreover, there is the amazing $50 phased tournaments that will be running throughout the duration of the tournament series and has a guaranteed prize of $50,000.

Competition on The Way

As mentioned earlier, PokerStars has had a monopoly in the Keystone State’s online poker market ever since it was launched. This is about to come to an end as other poker operators that have been eyeing the state are inching closer to launching their poker offerings. However, if the high traffic that PokerStars boasts of is anything to go by, the operator does not have much to worry about.

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Author: Kelley N.