Live-betting esports platform Unikrn has had its license approved by The Isle of Man on Tuesday, 23 October 2018, which means that esports gambling will soon be available in most of Europe, South Korea and some other Asian countries.
Although customers in the US will initially not be able to take part in esports gambling, the platform will eventually be available there as well. Apparently, spectator betting will not be made available but skill based betting will, albeit in 41 states.
When they say skill based betting, they're referring to skill-based competing in the vein of poker competitions, i.e. you'll be able to bet on yourself in a skill-based match in games such as Fortnite, PUBG, etc. Spectator betting is pretty self-explanatory.
Users will need to verify their age and location, after which they'll be linked to Unikrn's platform, which will even be generating odds based on in-game profiles. Players can deposit their bets online and proceed to duke it out in a game, with the winner collecting the winnings once they're done.
Moreover, this means that gambling enthusiasts from Europe will be able to take part in legal betting on esports competitions just like they would in any other sport. So far, Unikrn's services could only be accessed if you were from the UK or Australia.
Unikrn CEO Rahul Sood told Associated Press, "There is finally a legitimate, regulated operator in the space that has a pretty comprehensive offering" and added that this is quite a big deal for the company and the world of betting in general. He expects that should the US market join the esports betting space in full capacity, the sector could easily reach $9 billion in worth by 2020.
What further sets Unikrn apart is that it's the first wagering company in the world that actually entirely built on blockchain technology. With all the bad rep that the tech has been getting, it's pretty refreshing to see it put to use, even if gambling isn't quite the sector I'd like to associate it with.