Some major legislation was passed in the US for sports betting this week. On Monday the Supreme Court struck down federal legislation from 1992 that prohibited almost every state in the US from authorizing sports betting, The court said that “the legalization of sports gambling requires an important policy choice, but the choice is not ours to make. Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.” Many states are considering allowing sports gambling to encourage tourism and tax revenue.
How This Legislation Affects Cryptocurrencies
So what does this mean for the cryptocurrency world. One of the most prominent cryptocurrencies in the cryptocurrency gambling world is UnikoinGold. The company behind UnikoinGold, Unikrn, is at the forefront of the esports gambling industry. They have a strong management team with experienced entrepreneurs and strong backing with likes of Mark Cuban being one of their early investors. This legislation change is great news for Unikrn.
After the U.S. Supreme Court eliminated #PASPA, @mcuban spoke with @ESPN_Esports about the importance of federal standardization of rules and requirements around sports betting and why @UnikrnCo is ahead of the competition.
— UnikoinGold (@UnikoinGold) May 15, 2018
Unikrn’s Expansion Into The US
Now that the Supreme Court has made this decision, the prospects are much better for Unikrn’s expansion into US markets. Esports gaming is a huge industry that is growing rapidly every year, so Unikrn is putting themselves in a great position for growth offering a way to gamble safely on this industry. Unikrn’s goal is to “give esports and gaming fans a truly custom experience built around their wants, needs and culture”. Unikrn will be “implementing our blockchain, patent-pending technologies and years of R&D to move on deploying real-money betting across the world. Now we expect that rollout to soon include plans for offering products in the United States.” You can check out the full reaction of Rahul Sood, the CEO of Unikrn, to the legislation news in this article here.
UnikoinGold is a ERC20 Ethereum-based token that will serve as an entry to the Unikrn spectator betting system. It is also the exclusive token used on Unikrn’s skill-based betting platform. It powers both wagering and non-wagering experiences throughout the Unikrn platform, thus creating the first viable eSports eco-system that rewards the players, content-creators and spectators alike. If a decent number of states end up legalizing sports betting, UnikoinGold could experience a significant increase in ownership and users.