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With the world of digital currency progressing rapidly, it was only a matter of time before one of the big players from the poker industry ventured into the realm of crytocurrencies. World Poker Tour (WPT) has recently partnered with a blockchain sportsbook FansUnite Entertainment Inc. taking its first step in the domain of cryptocurrencies.
FansUnite is an award-winning Ethereum blockchain protocol that has revolutionized the sports betting industry. With an established foundation in cryptocurrency, FansUnite plans to run its sportsbook at margins of just one percent. The company is capable of powering daily fantasy sports, online poker, and a variety of other applications that rely on sports/gaming data and has successfully generated Series A financing of $4.45 million CAD.
According to the partnership agreement with WPT, the deal between the two companies includes integration of the brand in Season XV broadcasts in Europe, “Plays of the Week” showcased on Super Channel in Canada, social media cross-promotion, on-site promotions at WPT events in Europe and Asia and WPT tie-ins with other FansUnite partnerships.
WPT CEO Adam Pliska stated, “We are thrilled to introduce FansUnite to the WPT’s millions of poker players and fans across the globe through television, digital media, live events, and more, and we look forward to furthering strategic partnership integrations and activations with FansUnite.”
FansUnite CEO Darius Eghdami reiterated Pliska’s comments and said, “Over the last two decades the World Poker Tour has been at the forefront of gaming entertainment. WPT’s worldwide reach, instant name recognition, hundreds of thousands of players and millions of fans make them the class of their industry. This partnership introduces FansUnite to millions of poker fans across the globe and gives WPT partners the first look at our industry-changing technology.”
Speculations have been made regarding the impact of this partnership and how blockchain technology can affect poker.
“Blockchain is going to have massive ramifications for all stakeholders in the casino gaming space,” said Eghdami. “Currently, poker players rely on the goodwill and reputation of the sites they choose to play on – to protect their deposited funds, conduct games fairly, and payout when the player decides to withdraw. The blockchain is changing this paradigm.”
He added, “It is now possible for players to maintain control over their funds until the moment they push their chips in and be assured of a provably fair gaming experience with code and transactions stored transparently on a public blockchain. We will see a similar shift to blockchain operators for transparency and security of funds. It’s a matter of when – not if – online casino games shift onto the blockchain.”