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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 Coinbet.cc 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.
Bitcoin.cc 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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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