As the world’s leading cryptocurrency Bitcoin continues to flourish. While it is yet to impact on the lives of a huge chunk of society, it is becoming more and more prevalent and accepted in far great places than ever before.
One of the most interesting industries accepting Bitcoin is the online gambling sector. Not in the UK yet, where the regulations surrounding betting accounts, payments and money laundering are far stricter than other jurisdictions. But worldwide.
Here in the UK, the Gambling Commission have put in strict regulations that bookmakers and betting sites must abide by. The KYC (Know Your Customer) rules means that identity, payment methods and authenticity are a must if customers are to be allowed to place a bet.
As a result, betting with Bitcoin – or other cryptocurrencies for that matter – isn’t yet possible on these shores. And that is unlikely to change any time soon unless the crypto world can dovetail with the UK Gambling Commission regulations.
Elsewhere, however, bookmakers and betting sites around the world are accepting bets and deposits via ewallets and in cryptocurrencies from Bitcoin to ZCash and Ethereum to TRON.
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Some of the leading global bookmaking brands like Betwinner, 1xBet, Melbet and 888Starz, all accept deposits in cryptocurrencies, which is bet in BTC or converted into a currency to bet with online or via their betting apps.
One that has taken things even further is 1xBit, which offers the 1xBit promo code NEWBONUS. They are a sportsbook and online casino that only deals with crypto currencies and particularly Bitcoin. No surprise where the name came from.
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It isn’t something new either, because 1xBit saw this coming some time ago having been formed and founded in 2007. They are a traditional bookmaker in every sense other than the accepted payment methods of initially Bitcoin and now a wider array of cryptos.
What 1xBit saw about cryptocurrencies was the benefits of withdrawing winnings instantly. The experience mimicked that of a betting shop, collecting hard cash as soon as the bet was won. There was no three or five day delay for winnings to appear into a bank account.
Now it is possible to bet online using Bitcoin far widespread than just via 1xBit, although they do remain one of the leading betting sites for crypto customers.
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Is Bitcoin about to become the best way to bet online? Not every bookmaker will ultimately accept it as a payment method, particularly when the regulations governing them are tight. But the list of those that do is growing weekly and monthly worldwide.
Betting via BTC is beneficial on both sides of the wagering fence, because it is easier for both customer and bookmaker to process payments and get their hands on the money quickly and easily.
As a currency that transcends countries, regions and continents, it is a global player and undoubtedly here to stay. While the online gambling sector can be accused of being slow to react from time to time, this is one area where innovation is leading the way.
Expect other industries like online shopping to learn from how bookmakers have adapted and added cryptocurrencies to their offering and business model. Bitcoin is set to boom in online betting and as it paves the way for a far wider impact.
Business
Pubs can extend their opening hours if England make it to the Euro 2024 semi-finals
Emily Sergeant
Pubs are to be permitted to extend their opening hours if England make it through to the semi-finals of EURO 2024 this summer.
With the Premier League, and the English and Scottish football leagues, all drawing to a close over the next couple of weeks, our nations are already looking ahead to what is gearing up to be a massive summer of sport – with both the UEFA EURO 2024, and the 2024 Olympics coming up before August is out.
And now, it’s been revealed by Home Secretary James Cleverly that if either England or Scotland’s mens national football teams make it to the semi-final of European football’s flagship tournament, then pubs will be allowed to stay open for longer.
But, there’s a bit of a catch… because isn’t there always?
The Government has said that venues will be allowed to stay open for an extra two hours on match days if either or both teams reach the last four or the final of the competition, but this only applies to pubs that already have a license to open until 11pm anyway.
The move to extend opening hours comes after a consultation at the end of last year, and is hoped to provide a boost to the hospitality industry – which has notably been hit hard during the ongoing cost of living crisis.
The Home Secretaries in England and Wales, under Section 172 of the Licensing Act 2003, can make an order relaxing licensing hours to mark occasions of “exceptional national significance”, but the Scottish and Northern Irish Governments have to set their own rules.
“We have listened to the public through our consultation,” explained Home Secretary James Cleverley, “and we will be extending pub licensing hours should England or Scotland reach the semi-finals or final of Euro 2024.”
The EURO 2024 semi-finals are to be held on Tuesday 9 and Wednesday 10 July / Credit: UEFA
Mr Cleverley said the move will “allow friends, families and communities to come together for longer to watch their nation hopefully bring it home”.
This legislation is set to be laid in Parliament today (Wednesday 8 May) to ensure there is enough time for it to be debated and passed before the tournament begins on Friday 14 June, the Government has confirmed.
WeWork is closing its enormous office in Spinningfields, with tenants told to move out
Daisy Jackson
Co-working giant WeWork has announced the shock closure of its flagship space in Manchester, an enormous unit in the heart of Spinningfields.
Those who rent desks or offices within the space have been served notice to move out by the end of the month.
It’s understood that WeWork’s three remaining locations in Manchester are unaffected.
The US-based workspace company first moved into the 60,000sq ft unit at No.1 Spinningfields in 2017, offering flexible solutions to businesses of varying sizes.
But in the last few years it’s faced major financial difficulties, with WeWork eventually filing for bankruptcy in the States.
It was previously valued at $47 billion before its bankruptcy overseas.
On the closure of its huge Manchester office, a WeWork spokesperson said: “As part of WeWork’s efforts to achieve a sustainable capital structure and profitable business to serve our members for the long term, we have made the decision to stop operating at No1 Spinningfields in Manchester.
“We look forward to continuing to provide our members with flexible space solutions across our other locations in the city and the rest of the UK, which remains a key market for us.”
An email sent to tenants said: “After carefully evaluating our offerings in Manchester, we have made the decision to stop operating at WeWork No 1 Spinningfields… the move out will occur by 31 May 2024.
“We understand this may cause disruption to your business and are very sorry for any inconvenience this may cause.”
Have you been affected by WeWork’s Manchester closure? Email [email protected] who can help with central, flexible office spaces.