US – CoinBet reenters real money online gamblingBy Phil - 28 January 2014
CoinBet Interactive, a new online betting concept created for the newest generation of US based online gamblers, whom before now, were without a platform, was unveiled in the bright lights of Times Square when an image of the website’s homepage and announcement of its offerings were proudly displayed for all to see on the Reuters Sign in Times Square.
CoinBet is unique in that, it is the first legitimate, licensed entity, to reenter the real money online gambling space, since Full Tilt Poker, PokerStars, and Absolute Poker all had their sites shut down by the D.O.J. in 2011.
CoinBet is well capitalised and the leader in the space, perhaps by default, because at present, there are no other entrants. The fully licensed gaming company accepts players and takes action across the globe, but is focused and sees real opportunity in the American market.
John Bauer, a senior V.P. of Gaming at CoinBet said: “To take away a person’s fundamental right to spend their money on whatever they choose is wrong, unconstitutional, and without question, an un-American thing to do; but we are not here to engage in a legal debate, we are here to serve up the very first legitimate workaround to the complex online gambling laws in this US market. We are returning to Americans their freedom to choose and giving them their power back.”
Bitcoin, the popular digital currency, is the medium CoinBet uses to manoeuvre cash from US players in and out of their site, since ostensibly it is not a violation of the wire act or the unlawful online gambling act, since technically, only BTC goes in and only BTC comes out.
Mr. Bauer added: “American gamblers should educate themselves quickly, as every bettor should know how it feels to make a bet and have his winnings pushed back to his wallet within minutes. That’s the power of our platform. It’s like gambling on steroids. In two years you’ll see a dozen copycats, trying to replicate what we’ve done here, but we aren’t worried, it’s not just about first mover advantage, we are light years ahead in so many ways that it’s not even conversation worthy.”
CoinBet is currently sponsoring a $1,000,000 Super Bowl Giveaway on its site.