Cryptocurrency, especially Bitcoin, holds particular appeal for the gambling industry. After all, the digital currency and blockchain network’s first real application was in poker.

For years, the online gambling industry has been plagued with misguided government policies that aim to protect state-owned gambling monopolies and restrict a citizen’s freedom to decide how to spend their entertainment dollars. Dr. Craig Wright, chief scientist of blockchain technology and research development outfit nChain, explained it best:

“With Bitcoin, you know that the funds cleared, once they’re cleared you can play safely. If you can play safely, the operator knows that the man is there then your fees are lower. And that means you have more opportunity to actually win. And that’s better for everyone—the operator and the player.”

First-mover advantage

Paraguay has begun enforcing its new sports betting monopoly, although the companies facing the authorities’ wrath aren’t going without a fight.

In March, Paraguay’s National Commission of Games of Chance (Conajzar) confirmed the awarding of a five-year monopoly license to Daruma Sam S.A. to operate sports betting under its Apostala (Aposta.la) brand. The monopoly took effect last month and the authorities have begun taking action against the nine betting licensees whose operations are now forbidden.

Last week, local media outlet RDN quoted legal representatives of two betting firms, Montego SA and Enfield, which operate under the Crown and Aspotamina brands, respectively, relating how their premises were visited by agents of the National Police and Public Prosecutor, reportedly at Conajzar’s request.

Both firms were operating under a judicial order while their legal challenge of the constitutionality of Conajzar’s decision is before the courts. Montego SA’s lawyer Paola Villalba maintains that the raids were intended to discredit Daruma Sam’s rivals by instructing the public that their operations were illegal.

India should legalize sports betting and gambling to raise badly needed government revenue and reduce problem gambling behavior, according to a new legal report.

Over two years ago, the Law Commission of India (LCI) was tasked with examining the best way to deal with the country’s rampant gambling activity, nearly all of which remained underground and untaxed. India’s archaic gambling laws date back to 1867, when the country was still an English colony.

On Thursday, after much public and stakeholder input, the LCI released its report, Legal Framework: Gambling and Sports Betting including Cricket in India, which notes that India has fought a largely losing battle against illegal gambling operators. “Since it is not possible to prevent these activities completely, effectively regulating them remains the only viable option.”

The LCI believes that India’s constitution already empowers the national parliament to remedy the situation, and the LCI urges parliament to enact laws that would allow individual states the right to opt out of legal gambling within their respective borders.

France’s sports bettors are setting new wagering records on the 2018 FIFA World Cup, and the tournament is nowhere near over.

French gambling regulator Arjel recently disclosed its official statistics on local punters’ outlay on the 2018 World Cup in Russia. Over the 48 group stage matches between June 14 and 28, French punters wagered a total of €363m, more than twice the €166m wagered on the 2014 World Cup’s group stage and €73m more than the total €290m wagered on the entire 2014 event.

This year’s World Cup group stage wagering also exceeded the €297m wagered during the 51 competition matches of the 2016 UEFA European Championships.

Of the sum wagered so far on the 2018 tourney, €159m was placed with the 27k points of sale of the Française des Jeux (FDJ) retail sports betting monopoly. The remaining €204m was placed with Arjel’s 12 online sports betting licensees.

Loot boxes in video games may look like a form of gambling but, legally speaking, they’re not, according to French gaming regulator ARJEL.

In its 2017-18 activity report, the French regulator noted that loot boxes may qualify as gambling since they evoke a “near miss” feeling, which is similar to what players feel when they play slots machines. This feeling of “near miss” is what encourages players to keep on trying, according to ARJEL.

What kept the French regulator from declaring loot boxes as a form of gambling was the fact that the items from these microtransactions did not generate real-world monetary value.

However, ARJEL’s position got a bit more confusing when it opined that loot boxes, whether or not they fell under the national gambling definition, undermined the objectives of France’s public policy on gambling.