Luckbox Promises a Fully-Licensed Esports Betting Platform
A new esports betting platform promises to eliminate the problem of “dodgy sites” and become a fully-licensed, legally operating gambling site. The blockchain-based startup is still in the presale stage but plans to accept cryptocurrencies along with in-game items such as skins, and cash.
According to Luckbox CEO Lars Lien, illegally operating esports sites are making millions for now, but their days are numbered. Lien believes online sites must comply with regulations to be sustainable. His ambitions include operating on a global scale, and to do so, he plans on adhering to “the highest levels of gambling regulation.”
Lien says the Luckbox platform will be ready to launch in the third quarter of 2018. Part of his rollout strategy is the introduction of LuckCash, the site’s native cryptocurrency.
To build Luckbox, Lien partnered with professional poker player Mike Stevens. The two sourced out platform development to a team in Bulgaria. The developers are charged with creating a dedicated esports platform that operates with the same level of quality as traditional sports betting operators.
Esports betting is not an entirely new business – some operators have been offering bets on esports tournaments since 2014. Over the past three years, several esports betting startups have gone out of business or have been forced to shut down by regulators.
Other betting operators, such as existing sports books that integrate an esports betting vertical, struggle to attract esports fans. Lien argues that it takes an esports-dedicated platform, built with endemic knowledge of the industry, to find success in esports betting.