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Affiliate Compliance

Is Bitcoin Becoming Mainstream?

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Is Bitcoin Becoming Mainstream?

Between November 2016 and November 2017, Bitcoin saw its market-cap increase by 1034% to a record breaking value of $128,982,906,067 on coinmarketcap.com. November 2017 also saw Bitcoin hit a new all-time high against the British Pound and US Dollar, with xe.com valuing a single bitcoin at £5889.18 and $7720.66 respectively.

With bitcoin’s market expanding, value increasing, and its near-global adoption favoured for its decentralised system, it’s no wonder that more people are looking to earn, spend, and even gamble with the cryptocurrency.

Why Use Bitcoin?

According to FortuneJack (the biggest online Bitcoin gambling casino), there are many reasons why businesses and individuals use bitcoin; these include:

Privacy and Security

Unlike online purchases using credit cards, which require you to input of all your secret information, bitcoin works on a public and private key system. Not only does this make the transaction more secure but also means you are the only one with access to your bitcoin wallet.

It Isn’t Inflationary

Unlike traditional ‘fiat’ currencies, which are run by central banks, bitcoin is not susceptible to inflation or quantified easing due to the limit of just 21 million ever being created.

Speed

Because it’s an entirely digital currency, bitcoin deposits and withdrawals are exceptionally fast and processed without delay, as opposed to traditional banking methods where a bank or transfer service will hold onto the money for several days.

 

Ways to Earn Bitcoin

Unlike standard currencies which have their value and number determined by central banks, bitcoin can be earned through a couple of methods:

Mining

The most popular and even encouraged form of earning bitcoin, mining involves using your computer to add transactions to the public bitcoin ledger called the blockchain.

Earning

Whether by accepting bitcoins for freelance work or at your business, you can accept bitcoin as a payment method to begin building up your balance.

How to Spend It

Every day new ways of spending bitcoin are being created. To date, bitcoin can be used in and on:

  • Online e-commerce sites
  • Physical Stores
  • Travel and Property
  • Bars and Restaurants
  • Online Gambling
  • Bullion Trading
  • Online Auctions
  • Buying Services

Other ways to spend bitcoin include:

Payment Cards

Coinbase launched the Shift debit card, which consumers spend bitcoin anywhere that merchants accept cards, while pulling Bitcoin from their Coinbase account. Allowing suppliers and customers to spend at over 38 million merchants worldwide through using their Visa cards.

Gift Cards

Some bitcoin users exchange their currency for gift cards from service providers like eGifter, or Giftoff, which allows consumers use 15 cryptocurrencies to buy gift cards from up to 177 retailers.

Gaming

Companies like Microsoft have recently started offering games and other apps for bitcoin, with a Minecraft server even using bitcoin as its in-game currency system.

 

The Global Impact of Bitcoin

In 2016, bitcoin gained 126.2% against the US dollar, compared to just a 21.7% increase for the world’s next best-performing currency, the Brazilian Real.

The Netherlands has been quick to adapt to the widespread popularity of bitcoin. Arnhem, a large city in the east of the Netherlands, has been labelled as “the world’s most bitcoin-friendly city,” by a local group running the arnhembitcoinstad.nl website, and the Netherlands’ best department store even accepts the bitcoin currency.

In Japan, retailers are also staying ahead of the development of virtual currencies by accepting bitcoin, with reports revealing that two of Japan’s largest retailer groups have started accepting the currency. The POS app, AirREGI, has been even been implemented at 260,000 retail outlets and restaurants throughout the country, which allows customers to pay by simply scanning a barcode.

Cities and Businesses Accepting Bitcoin

Cities with the Most Businesses Accepting Bitcoin:

 

 

 

 

 

 

 

 

 

 

*Figures corrected when sourced. Source CoinMap

 

Conclusion

As bitcoin and other cryptocurrencies become more prevalent and profitable, we are likely to see more multinational and large businesses integrating bitcoin into the payment options for themselves and suppliers.
Bitcoin users and regular consumers are also realising that bitcoin can be used to pay for real life services and tangible products, with the two-key system and anonymity providing an additional level of security to their transactions.

 

About FortuneJack

Fortunejack.com is developed by a highly talented team with twenty years’ experience in the gambling industry. FortuneJack have an incredible portfolio of work, encompassing Eastern Europe’s leading casinos, including brick-and-mortar venues and online sites.
Our sites are developed and maintained by the region’s top software professionals: this allows us to offer you today’s best, most secure, most innovative games, combined with a fun atmosphere for pros and newcomers alike.

Affiliate Compliance

Responsible Gambling Affiliate Association Announces Appointment of George Rover as Executive Director

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Responsible Gambling Affiliate Association Announces Appointment of George Rover as Executive Director

 

Responsible Gambling Affiliate Association, the industry trade coalition that advocates for reasonable regulation, responsible advertising, and consumer protection has appointed George Rover as its first Executive Director to lead the organization. Comprising of six major players in the US online gambling affiliate sector, the Association includes Better Collective, Catena Media, FairPlay Sports Media, Gambling.com Group, Spotlight Sports Group, and XLMedia PLC.

As Executive Director, Rover will be responsible for executing the RGAA’s long-term mission to safeguard responsible gambling marketing and advertising practices. His duties as Executive Director will be pivotal in shaping the future of responsible affiliate practices, advocating the needs and interests of the Group’s members, promoting sensible regulation, fostering collaboration with industry stakeholders, and advocating for the highest standards of integrity.

“In the spirit of collaboration – whether it be with state regulators, politicians, legislators or online gambling operators, I look forward to working with key stakeholders and will champion the critical role affiliate companies play in the regulated online gambling ecosystem,” said Rover. “The formation of the RGAA will provide this essential segment of the industry with an important and constructive voice to promote responsible gambling, prioritizing the best interests of consumers through a unified set of high standards and guidelines to achieve long-term success.”

Prior to joining the RGAA, Rover held numerous senior positions with the New Jersey Department of Law and Public Safety, Office of the Attorney General and the New Jersey Division of Gaming Enforcement (NJDGE). At the NJDGE, Rover oversaw the agency’s Service Industry Licensing, Casino Prosecutions, Internet Gaming and Technical Services Bureaus. During his tenure, he directed the successful launch of Internet Gaming in New Jersey and supervised some of the NJDGE’s most complex licensing and organized crime investigations and prosecutions.

After his retirement from government service, Rover also worked closely with the industry’s leading gaming companies to form the Sports Wagering Integrity Monitoring Association (SWIMA), a national non-profit organization with the mission to detect and discourage fraud and other illegal activity related to betting on sporting events. In addition to his role with the RGAA, Rover will continue to support companies in the gaming industry through his strategic gaming advisory company, Princeton Global Strategies.

“We are thrilled to welcome George Rover to the RGAA family,” said Katie McCord, Chair of the Responsible Gambling Affiliate Association. “His unparalleled expertise, spanning decades in casino and sports betting law, will undoubtedly elevate our organization. George’s substantial contributions to the industry, including spearheading initiatives like SWIMA, showcase his commitment to integrity and innovation.”

Rover will participate in a fireside chat at the Next.io Online Gambling and Sports Betting Summit in New York on March 4 to discuss the dangers of the offshore and unregulated market which continues to target consumers in the US who still lack education regarding legitimate operators.

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Affiliate Compliance

AFFILIATE QUALITY MARK LAUNCHED FOR 6 REGULATED MARKETS

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3 New Websites Approved by QMRA

 

At XY Legal Solutions, founder of the Dutch ‘Keurmerk Verantwoorde Affiliates (KVA)’ (https://kva.nl/), we have decided to launch the Quality Mark Responsible Affiliates (QMRA, https://qmra.eu/) for 6 regulated markets:

Spain, Norway, The United Kingdom, Denmark, Germany and Sweden.

The procedure works as follows: the affiliate applies (per website) through our contact form, after which the QMRA Team will review the website. QMRA has Compliance Codes per market on which the reviews will be based. These QMRA Compliance Codes are a distillation of the law in the named markets, relevant for affiliates. The yearly fee for QMRA membership per website is set at 695,- Euro’s (VAT excluded), 595,- when a company offers three or more websites.

The decision to launch this new Quality Mark stems from the tremendous success of KVA. The Dutch situation has demonstrated the need for an affiliate quality mark. No country has a quality mark like KVA. We now aim to change that.

Compliance demands for iGaming are growing for all regulated markets. For affiliates, it is becoming more and more important to show they are able to keep up with compliance standards. A quality mark helps affiliates demonstrate to operators that they are trustworthy. Next to that, the QMRA compliance procedures will help the affiliate to understand relevant legislation.

Launching websites are: CasinoHawks.Com (Game Lounge) and BetterWorldCasinos.Com (Coherentes)

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Affiliate Announcements

bet365 Strengthens Responsible Gambling Stance with Renewed Rightlander Partnership

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bet365 Strengthens Responsible Gambling Stance with Renewed Rightlander Partnership

 

bet365 has announced the extension of their partnership contract with Rightlander, the foremost provider of innovative affiliate compliance solutions.

The agreement underscores bet365’s sustained dedication to promoting responsible gambling and ensuring the highest level of affiliate compliance. Since the partnership began, Rightlander’s cutting-edge compliance tools have been instrumental in assisting bet365 to maintain ethical advertising standards and abide by the strict regulatory landscape.

“We are excited to renew our contract with Rightlander,” said a spokesperson from bet365. “Their comprehensive compliance solution has become an integral part of our affiliate program. The extended partnership reinforces our commitment to responsible gambling and our dedication to providing a secure and fair environment for all our customers.”

The Rightlander platform offers a host of advanced features, and the technology is designed to facilitate compliance with evolving gambling regulations, a fundamental aspect of bet365’s operations.

Rightlander’s Head of Customer Success, Nicole Mitton, expressed her enthusiasm about the ongoing partnership, stating, “We’re delighted to extend our relationship with bet365. This renewed agreement is a testament to the effectiveness of our compliance solutions, and we look forward to continuing to help bet365 promote responsible gambling and adhere to regulatory requirements.”

The extended contract is expected to further strengthen the robust compliance infrastructure at bet365 and drive innovation in affiliate compliance within the online gambling industry. This strategic partnership will continue to provide an example for industry standards of affiliate compliance, further solidifying the companies’ shared commitment to promoting responsible gambling practices.

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