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.
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.
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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
Trainline and Virgin Atlantic among companies being investigated for ‘misleading’ pricing
Emily Sergeant
A number of companies are currently under investigation for ‘misleading’ pricing practices.
The Competition and Markets Authority (CMA) has launched three new consumer protection investigations into Trainline, Virgin Atlantic, and RED Driving School over concerns that customers were not shown the total price upfront when buying things like train and coach tickets, holidays, or even driving lessons.
The investigations are part of a wider CMA clampdown on misleading pricing practices – in this instance, where mandatory charges are separated from the headline price, or added later in the buying process, which is known as drip pricing.
These practices leave consumers facing ‘unexpected’ costs or having to calculate the so-called true cost themselves.
Such practices can also impact competition between businesses, as a firm using drip pricing may falsely appear to be cheaper than a competitor pricing correctly, and therefore attract more customers.
Trainline and Virgin Atlantic are among the companies being investigated for ‘misleading’ pricing / Credit: Northern | Aric Cheng (via Unsplash)
Trainline is being investigated over whether all mandatory fees have been included in the upfront prices displayed to consumers buying tickets in advance on its app and website, while Virgin Atlantic’s investigation will focus on whether mandatory resort fees and local taxes have been included in the upfront prices shown to customers buying package holidays.
RED Driving School is being investigated over how a mandatory booking fee and ‘digital’ fee have been displayed to people booking driving lessons – specifically whether these fees have been included in the total upfront price.
“At a time when many households are watching every pound they spend, it is important that people are not surprised by extra fees,” commented Emma Cochrane, who is the Executive Director for Consumer Protection at the CMA.
“Clear pricing helps people compare offers confidently and choose the option that works best for them.
“Unexpected mandatory charges make this much harder, which is why the CMA initially put these firms on notice over concerns about their pricing practices and is now opening formal investigations.”
The CMA says it’s at the beginning of its investigations and has reached no conclusions about whether these firms have broken the law.
If it finds there has been an infringement of the law, the CMA can order businesses to pay compensation to affected customers or be charged up to 10% of global turnover.
Featured Image – PNW Productions (via Pexels)
Business
Plans unveiled to deliver 50,000 council and ‘genuinely affordable’ homes in Greater Manchester
Emily Sergeant
Plans to deliver 50,000 council and ‘genuinely affordable’ homes in Greater Manchester have been unveiled.
By removing ‘blockers’ to development and transforming disused public land into new housing schemes, Greater Manchester Mayor Bev Craig has set out her plan to tackle the housing crisis and deliver ‘a new generation’ of homes – with 50,000 new ‘genuinely affordable’ homes to be available across the city region by 2039.
It’s expected that 10,000 of these homes will either be built, on site, or in the pipeline with planning permission ready to go by May 2028.
To meet the scale of this ambition and deliver the homes the region needs, Greater Manchester Combined Authority (GMCA) says it will need to ‘pull every lever at [its] disposal’, from remediating brownfield land, to bringing forward dormant sites in public ownership.
That’s why the Mayor will be asking Greater Manchester‘s public bodies to carry out a public land review and identify sites that could be brought forward to deliver homes.
GMCA has already used its Brownfield Housing Fund to support several schemes that are delivering thousands of affordable homes – including social rent homes – as part of the £2 billion Good Growth Fund.
If you’re unfamiliar, the Good Growth Fund is investing in a pipeline of projects to deliver new homes, regenerate town centres, create jobs, and build infrastructure to connect people and places.
“When I was Manchester City Council Leader, I built more council and social homes than Manchester had built in 25 years,” Bev Craig declared. “But we need to go further and faster in every bit of Greater Manchester.
“We will be leading by example when it comes to freeing up disused and dormant public land for development and I’m calling on other Government bodies to join us.
“I know first-hand the security that a Council house brings, and that’s why I am absolutely committed to delivering the Council and social homes that people here in Greater Manchester need, so everyone can have the foundation of a good life in our city region.”
Currently, land supply for 78,585 new homes of all tenures up to 2030 has been identified.
Greater Manchester is in line to receive an initial £1.8 billion from the Government’s Social and Affordable Homes Programme, and the Mayor will meet with Government in the coming weeks to set out joint plans to achieve these ambitions.
The Manc -
13th May 2021 
