Business

Is Bitcoin the new go-to gambling currency online?

One of the most interesting industries accepting Bitcoin is the online gambling sector

The Manc The Manc - 13th May 2021

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. 

Does Bitcoin Casino Gambling Make Sense? - The European Business Review
Bitcoin

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.

What is the Future of Cryptocurrency on Online Gambling Sites? - InsideBitcoins.com
InsideBitcoins

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

How much money Manchester United spent on Dan Ashworth only for him to leave five months later

Danny Jones Danny Jones How much did Man United spend on getting Dan Ashworth compensation?

Manchester United’s ‘new’ sporting director Dan Ashworth only made the move to Old Trafford back in July and now, just five months later, he has officially left by ‘mutual agreement’.

Announced over the weekend, not only did the news come much to the surprise of United fans but given that his appointment was confirmed long before his start date, Ashworth actually spent almost just as long not quite having joined the club as he did on the job. Sounds messy, we know – because it is.

In short, both Newcastle and now Manchester United’s 53-year-old ex-sporting director was placed on gardening leave back in February after a clear approach by what would be his short-lived new home.

They also paid the North East side a large sum to secure his services – far from a measly number when you consider where else they’ve pinched pennies this year…

Nope, think that about covers it.

To put things into context, while in footballing terms £3 million might not sound like a lot of money (the industry being as overinflated as it is), when you take into account what that money could have gone towards, it doesn’t necessarily make for great reading.

Oh yeah, you also have to tot up how much he was paid as his regular wage during a five-month stint in which even more money was spent on players and those hoping to grab a ticket to one of the remaining games this season (we’re not even in Christmas yet) were asked to fork of £66 for the privilege.

The technical director for the FA’s elite development programme will have likely been on a higher wage in Manchester than he was in Newcastle, where he is said to have taken home around £1.5m a year, and probably notched a good chunk of that amount in less than half a year.

Even operating on the assumption that the INEOS Group matched his rate at St James’ Park, this means that he will have made at the very least an estimated £625k since switching Uniteds.

Add that on top of The Times‘ claims that the actual compensation figure Jim Ratcliffe and co. paid to release him from his previous role were actually upwards of the reported figure, then you’re looking at something closer to over £5m for as many months of work.

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Just as a reminder, roughly £200m has been spent on new players since Ashworth took up the position and 250 staff members were made redundant from various roles throughout the club, which was also said to have tacked on another £8.6m to the overall expenditure.

Although exact details are still yet to be fully verified, Ashworth and the new United hierarchy have clearly clashed: it is thought he was lumped with the decision to keep Erik ten Hag and extend his contract before his eventual sacking and also made clear suggestions as to his replacement.

It is also thought Ashworth had tipped other frontrunners to replace the Dutchman instead of new head coach Ruben Amorim, who CEO Omar Berrada to tie down before his former employers Manchester City could line up as Pep Guardiola’s eventual successor.

Whatever ultimately comes out in the wash, we think it’s fair to say it all sounds like a bit of a shambles and the atmosphere around the club – especially following the recent protests over increased ticket prices – looks to be less than rosy once again.

One thing is for sure, like most of those who have attempted since Sir Alex Ferguson, the new manager has walked into a much bigger task than he could have ever predicted and given the Ashworth developments, recent sackings and fan frustration on multiple fronts, United could really do with a win.

Featured Images — BT Sport (screenshot via YouTube)

Business

Government announces £250m plans to create thousands of new jobs in Greater Manchester

Emily Sergeant Emily Sergeant

Thousands of new jobs are set to be created at a ‘research and innovation hub’ in Greater Manchester, it has been announced.

Keir Starmer is currently visiting the Gulf, and as part of the UK Government’s intent to “drive investment” into various cities and regions nationwide, the Prime Minister has now announced plans to pursue closer ties with the United Arab Emirates (UAE) and Saudi Arabia – who he says are some of the UK’s “most vital” modern-day partners.

According to the Government, this part of the ‘Plan for Change’ will increase investment, deepen defence and security ties, and boost growth and new opportunities, both here in the UK and abroad, in a bid to to “deliver change that is felt by working people”.

It’s the north of England that will “reap the immediate benefits” from the closer cooperation of the UAE and Saudi Arabia, the Government claims – particularly here in Greater Manchester.

The Prime Minister has announced £250m plans to create thousands of new jobs in Greater Manchester / Credit: Lauren Hurley / No 10 Downing Street (via Flickr)

Manchester-based Graphene Innovation Manchester (GIM) has now launched the world’s first commercial production of graphene-enriched carbon fibre, along with Saudi Arabia’s NEOM Giga-Project, which is said to be a “groundbreaking step forward” in the delivery of environmentally sustainable advanced materials.

The project is aiming to generate £250 million of investment into a research and innovation hub in Greater Manchester.

More than 1,000 skilled jobs are also expected to be created in our region.

Hydrogen buses, trucks, critical components, and other elements of hydrogen production and distribution will be created over the lifetime of the project, all while removing more than 25 million tons of transport-related CO2.

The Prime Minister says every region and nation in the UK “should feel the impact” of the ‘Plan for Change’, but the North will benefit first.

“I am determined to ensure international diplomacy drives local results,” Starmer said.

“Whether that is discussing how we can support regeneration in the UK, or supporting business deals that create jobs, my international agenda starts at home.”

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Greater Manchester will also be benefitting from significant Saudi investment in housing too, the Government says – with International Investment Gate injecting £41 million into the regeneration of Brunswick Mill in Stockport to create 277 flats and 24 commercial outlets, and support the Prime Minister’s milestone to build 1.5 million homes by the end of his tenure in Parliament.

Featured Image – Mylo Kaye (via Unsplash)

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