Poker News

The WPT plunges into cryptocurrency waters in partnership with a Canadian start-up

The World Poker Tour is recruiting a brand new official associate, which guarantees to additional cut back the hole between poker know-how and that of the blockchain.

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<p class= FansUnite has already sponsored smaller WPT occasions, however it’s now official tour associate. (Picture: YouTube)

The WPT this week introduced its partnership with FansUnite, a Vancouver-based startup, which operates a sports activities betting web site powered by Ethereum, which at present holds the second largest market capitalization of any cryptocurrency, barely behind Bitcoin.

This isn’t the primary firm to supply sports activities betting by way of blockchain know-how, however the first to group up with a large Corresponding to this isn’t the case but, FansUnite additionally has the choice of utilizing cryptocurrency to give you day by day fantasy sports activities and on-line poker too.

firm has lately obtained $ three.43 million in Collection A funding to develop its blockchain protocol, which continues to be within the testing section.

The partnership will give FansUnite larger world visibility by way of an organization whose poker broadcasts have been broadcast in 150 nations.

From the standpoint of the WPT, this provides them a stable base within the blockchain. Nonetheless, the tour doesn’t but plan to supply its personal video games primarily based on cryptocurrency. At the least, not for the second.

A greater guess, a greater poker?

Though it’s primarily a sponsorship deal, FansUnite will profit from elevated visibility on European WPT broadcasts, in addition to from It’s a cross-promotion on social media, however can be a doable indicator of the way forward for on-line poker.

Cybersecurity and excessive working margins are two of the largest challenges on-line poker is dealing with right now. And it’s exactly these areas that FansUnite hopes to enhance due to its know-how.

The blockchain is an internet registry that theoretically permits monetary exchanges to be extra clear and safe than conventional transactions.

That is additionally cheaper, which helps cut back prices for each operators and clients. Take into account that almost all on-line poker gamers should pay a processing charge of between three and 10% every time they deposit on a web site. FansUnite has beforehand acknowledged that its sports activities betting can be operated with extraordinarily skinny margins of about one p.c.

As soon as refined know-how is perfected, it might have a big impression on the poker world.

Cryptocurrency Potential

We now have already witnessed the crypto phenomenon going down on the stay poker scene in 2018.

In July, the biggest convention on cryptocurrency on the earth dealt with the first-ever totally encrypted poker event the place all gamers needed to pay their $ 250 entry with digital cash.

The Aria additionally performs an lively position. The Las Vegas On line casino is anticipated to host the following Crypto Con on the finish of the month, and it’ll take the chance to carry its personal crypto poker event, an occasion that ought to some huge names like Phil Hellmuth.

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