Unikrn: Effects of New Gambling Laws
The Supreme Court ruling in May, which deemed that a federal ban on sports betting enacted in 1992 is unconstitutional, allows states to legalize and self-regulate sports betting here in the US. This has created an enormous opportunity for sports and eSports betting companies like Indicator portfolio company Unikrn. Rahul Sood, CEO and Co-Founder of Unikrn, and his team have been prepping for this moment for a long time, acquiring licenses and building out their global betting platform in regulated countries around the world in anticipation of the most recent court ruling (with their forthcoming license to operate in Malta, Unikrn will be able to legally take wagers from 80% of the European market).
Rahul expressed his enthusiasm regarding the Supreme Court ruling in a recent blog post, stating, “In the last few hours, our dream became real, and our company just became substantially more valuable.” He also shared his appreciation for the ruling: “By letting states regulate and offer sports betting, the US government is letting betting experiences become better-regulated and undermining elicit, offshore and black market operations that endanger their users.”
In countries where it is currently licensed, Unikrn users bet on games using cash deposits, Unikrn’s own cryptocurrency, UnikrnGold, as well as the company’s valueless, virtual currency called UnikoinSilver that can be redeemed for prizes (which is also what users have been using domestically until this point). As individual states begin adopting legal sports betting, Unikrn will have the opportunity to implement real-money wagering. Though this won’t happen overnight, Unikrn hopes to soon be able to fully onboard the 40% of its global users which are located in the US. Meanwhile, Unikrn has continued to improve its technology and global partnerships with gaming leaders such as MGM Casino to stay at the forefront of the eSport revolution.
This ruling presents a massive opportunity for sports, eSports and companies operating within these industries. It will be exciting to watch the evolution of sports betting across the US, and we believe that Unikrn will be the leader in the emerging eSports gambling space.
To learn more about the Supreme Court ruling and its impact on eSports, click here.