Advertised as an esports betting platform, Unikrn has become the latest operator to start from the fringes and dive right into the mainstream. The company obtained a gambling license earlier this week.
Unikrn Obtains Licensing from Isle of Man
Esports betting company Unikrn has made another decisive step towards the legalization of wagering on the outcome of video game races, a concept that has been gaining traction recently. The company managed to become one of the latest entities to be licensed by the Isle of Man, a jurisdiction authorized to list such recommendations and legal frameworks.
Unikrn is now the world's first live betting company to get a license for crypto betting from the Isle of Man.
Today we launch new products including spectator and player vs house skill betting across 20 countries.
This is massive. Check it!
— Rahul Sood 🦄 (@rahulsood) October 23, 2018
As a result, CEO Rahul Sood has commented that Unikrn will now try and expand all across the United States, trying to legalize esports betting in the process. In the words of Mr. Sood, the changes mean quite a bit. This will step up the efforts Unikrn has been putting in expanding into new markets, as the platform has so far only been operating in Australia and the United Kingdom.
There is finally a legitimate, regulated operator in the space that has a pretty comprehensive offering. It’s huge. – Unikrn CEO Rahul Sood for The Associated Press.
Though a water-shed company for the company, this is not the only entity to accomplish the feat, with another cryptocurrency-backed platform taking a license first. This was Luckbox which is still in the works and will not be launched until 2019.
Meanwhile, Unikrn has been one of the founding fathers of one of esports’ most respected authority, the Esports Integrity Coalition, which has just issued a ban to Indian player from OpTic Gaming, a major esports powerhouse, for cheating at a LAN final.
Bringing Integrity to the Table
As a founding member of the Esports Integrity Coalition (ESIC), Unikrn is in a unique position to set standards of integrity well across all sectors of the gaming community, including esports betting.
The company intends to hit all 41 stats in the United States and to seek a legal status for esports betting, adding wider demographic. In the process, Unikrn hopes to overcome the fragmentation of the industry which was caused with the passing of the 1992 PASPA, an act effectively banning all (e)sports betting activity and which was repealed in May, 2018.
Unikrn did try to enter the US market before, hoping that esports would allow them to actually circumnavigate the legislation only to end in failure. The website was blocked to American users as early as 2015.
Similarly, Luckbox has recently joined the ESIC in a bid to strengthen both its own esports betting future, but also to bring much needed expertise into the sector. The platform has been working hard on promoting esports betting as a viable activity and has so far succeeded to secure the backing of established parties all across the esports spectrum.
Unikrn’s victory is huge, as Mr. Sood confirmed himself. Bringing esports betting to every gamer in the world could very well be the next successful business model the industry will see shuffle it up entirely. e