Luckbox becomes the first crypto-supported esports betting platform to get top-tier IOM license.
Cryptocurrency-supported esports betting platform Luckbox has made history, becoming the first such operator to be awarded a top-tier gambling license by the Isle of Man government.
The Gaming Supervision Commission issued a full license under the Online Gambling Regulation Act (OGRA), to Real Time Games Holding Limited, the parent company of Luckbox.
To hold a Manx OGRA license, operators have to comply with some of the most stringent player protection and security standards in the world – making it a valuable stamp of reputability.
Luckbox will now be able to accept regular fiat currency, cryptocurrencies and in-game items as currency. Luckbox is in good company, joining other OGRA license holders like FullTilt, Poker Stars, SBO, 188Bet and Quanta.
Luckbox is being developed as a highly social esports platform, enabling players to truly engage with their favourite games like CS:GO, Dota 2 and League of Legends. It was founded by Lars Lien and Mike Stevens – former colleagues at PokerStars – and is aiming to launch in 2019.
The Luckbox development team is currently based in Bulgaria, but the new IOM license will enable Luckbox to welcome customers from any jurisdiction that does not require a local license.
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.
“We have conducted our crowdsale in a rigorous fashion. At times, it has been a tough process but now we can see it has all been worth it. Beyond the sometimes extreme levels of diligence required, we have experienced that our ambition goes well beyond the current capabilities of the traditional gambling operations as well as the crypto-focused competition.
“Having received the OGRA licence, built our 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.”
Reflecting the new wave of operators embracing esports, cryptocurrencies and social, Luckbox is going to be an interesting mover to watch over the coming years.
(Photo: © Roman Kosolapov | Dreamstime.com)
