The team at SolutionsHub are delighted to have played a pivotal role in helping Luckbox become the first cryptocurrency-supported esports betting platform to be awarded a top-tier gambling licence by the Isle of Man government.
SolutionsHub worked closely with the Luckbox and the Isle of Man Government team throughout the licensing process to accomplish a pioneering first in the jurisdiction.
Luckbox co-founder Mike Stevens said: “Of all the countless decisions involved since we started building the company, through obtaining our OGRA licence, building and launching the product and beyond; the decision to work with Lee Hills and SolutionsHub ranks among the very best.
“Lee and his team have calmly and expertly guided Luckbox throughout our entire journey.”
The OGRA ensures operators comply with the strictest levels of jurisdiction, offering players the highest level of safety and security.
Luckbox chose the OGRA licence as it is regarded among the most reputable gambling licences in the world, requiring all player funds to be held in mechanisms that guarantee players’ monies, ensuring if an operator goes into liquidation, player funds can be repatriated to the player.
The licence allows Luckbox to accept fiat, crypto and in-game items as currency when transacting with players.
Other companies that hold a OGRA licence include brands such as PokerStars, FullTilt, SBO, 188Bet and Quanta.
Luckbox was founded by Mike and former PokerStars colleague Lars Lien and was supported by cryptocurrency contributors via a crowdsale.
Preparing for launch in 2019, it is being built by a team combining vast experience in the igaming industry and a passion for esports to offer players unique and highly social platform to engage with their favourite games, including CSGO, Dota 2 and League of Legends.
The OGRA licence will allow Luckbox to operate in any jurisdiction it is legal to do so and where a local licence is not required.
Luckbox CEO Lars Lien said: “This is a significant milestone for our project.
“As well as building an industry-leading product, having a top-tier licence is what sets us apart. It offers the best protection for players and opens up fantastic opportunities for us as a business, not least enabling access to compliant marketing channels, the ability to be listed on mobile app stores, as well as accessing traditional gambling infrastructure developed over the past two decades.
“We have conducted our crowdsale in a rigorous fashion. At times, it has been a tough process but now we can see it has all been worth it.
“Beyond the sometimes extreme levels of diligence required, we have experienced that our ambition goes well beyond the current capabilities of the traditional gambling operations as well as the crypto-focused competition.
“Having received the OGRA licence, established a brilliant development team and now being confident with our infrastructure partners, I am confident we will deliver an amazing product early next year that will be very hard to copy. All in all, it’s fantastic news for the team and all those who have supported us so far – we are so grateful for your help.”
The team at SolutionsHub specialise in blockchain and gambling regulation and licensing. To find out how we can help your business, book an initial consultation now