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Is CoinBet Safe

Thursday January 23 ,2014 : HOW SAFE IS COINBET.CC?
Latest online gambling operator to accept Bitcoin virtual currency displays some worrying characteristics.
The New York-based online gambling company splashed out with a press release Wednesday, claiming that by transacting in the virtual currency Bitcoin - not defined as legal tender in the United States - it was safe from the unwelcome attention of the Department of Justice.
"Since bitcoin isn't officially recognized as currency by the U.S. government, online gambling with Bitcoin is not an illegal event under the Wire Act or Unlawful Internet Gambling Enforcement Act," claimed John Bauer, a senior vice president for the owners, CoinBet Interactive Gaming, S.A. offers online gambling on sports, poker and casino games and styles itself as "...the 1st fully licensed gaming operator to bring legal online gambling back for U.S. residents."
It "...uniquely enables U.S. gamblers to instantly and safely move U.S. dollars in and out of their accounts using the increasingly popular cryptocurrency bitcoin. Privacy minded gamblers are calling this the ultimate betting account, because of the anonymous registration option, which requires only an email and password," it boasts.
But the company's claim regarding pay-outs has come under fire on several internet message boards.
Coinbet claims it is the: "...first online casino & sportsbook ever to process cash payouts for players within minutes of a wagering result becoming final," but a slew of players nursing burned fingers would argue that this is far from the truth.
A simple Google search unearths a litany of complaints and recriminations from players who claim that they were misled and cheated out of legitimate, and in some case considerable, winnings.
Adding to concerns regarding the bona fides of the company, its website displays an eCOGRA seal which not only does not link as is required, but was not awarded to the company, according to eCOGRA management.
The company claims that it has recently been voted "the #1 Bitcoin processing online casino & sportsbook" but does not elaborate. Requests for clarification on its licensing, eCOGRA accreditation and this award have so far gone unanswered.

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Gambling News :

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

Pennsylvania Online Gambling Updates - Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

BtoBet Partners with AfroBet - Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.

Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

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