Skip to main content

What Events Made the Online Casino Community Smile and Cry This 2018?

The online casino industry had its fair share of bright and dim moments during the past 12 months.

During the year, the entire community celebrated the reversal of a restricting ruling and the impressive showing of many hubs. At the same time, online casino enthusiasts winced as news of hacks, departures, and exits have emerged from respectable outlets.

Here are three best and worst moments that happened in the iGaming scene this 2018.

Worst – EOSBet Lost $230,000 from Hack

The reputation of cryptocurrencies in online casinos took a huge hit when EOSBet—one of the largest crypto-exclusive casinos—was hacked on September.

The malicious hacker took advantage of an exploit on EOSBet’s smart contract, in which the suspect was able to gamble without the risk of losing his funds. By playing consequence-free games, the hacker took home 44,427.4302 EOS tokens, worth around US$230,000 around that time.

EOSBet had since patched the involved codes.

Best – Online WSOP Event Broke Attendance Record

The online poker community showed growth throughout the year. Followers of the World Series of Poker (WSOP) can attest to that claim.

The 2018 version and the 49th edition of WSOP in June saw many of its tournament records broken. One of these records is the number of entrants for the $365 WSOP.com Online No-Limit Hold’em event. A total of 2,972 players entered the online poker event—an all-time high—that was won by William Reymond.

RELATED ARTICLE

Worst – Australian Law Caused Online Casino Exodus

Earlier this year, changes to Australian gambling law and the attitude of its regulator have forced a number of unlicensed online casino operators to cease operations in the island continent.

Instead of potentially facing a fee of reaching up to more than AU$6 million, internationally licensed gaming hubs—including BetOnline.ag, SportsBetting.ag, and TigerGaming—have instead decided on restricting Aussie bettors from playing on their sites.

RELATED ARTICLE

Best – Soccer World Cup Brought Revenue to Online Gaming Hubs

Anticipating the influx of sports fans interested in the greatest sporting tournament in the world, iGaming sites offered its customers on June several FIFA World Cup-related bonuses and promotions. This move resulted in an increase in both traffic and income to a number of online casinos and bookmakers.

Portuguese online sportsbooks, in particular, recorded a boost in revenue during the quadrennial soccer competition. A report of the country’s national gambling regulator revealed that online betting sites reported a gross revenue increase of almost €3 million from Q1 2018 to Q2 of the same year.

RELATED ARTICLE

Worst – Industry Veteran Mybet Filed for Insolvency

Two decades after its foundation in 1998, the Mybet Group has declared its companies—Mybet Holding SE, ANYBET GmbH, and SWS Service GmbH—insolvent on August 17. Prior to this, the German operator recorded poor financial results in the preceding quarters, which did not help alleviate Mybet of its existing debts that led to the eventual insolvency.

Since then, sportsbook and casino operations remain suspended, with no assurance when the storied gaming hub will return, if it will ever go back online.

RELATED ARTICLE

Best – US Supreme Court Removed Sports Betting Restrictions

In what could be considered as the biggest development in the online gaming industry this year, the highest court in the United States on May 14 has ruled the Professional and Amateur Sports Protection Act (PASPA)—which prohibited betting on sports—unconstitutional. This reversal has brought legal sports betting—and its online counterpart—within the reach of players in many states outside of mainstay Nevada.

Currently, online sportsbooks are now legally allowed to offer wagering options in some states, including New Jersey and Pennsylvania—with more moving their way into legislating sports betting. Many experts anticipate the rise of online bookies next year.

RELATED ARTICLE

LATEST CASINO NEWS & BLOGS


News

All Lotteries Are Rigged? Let True Flip’s Blockchain-Based Draws Change Your Mind

January 16, 2019

True Flip is a decentralized platform that aims to offer blockchain-based international lotteries that are honest, transparent, fair, and exciting.

How iGaming Operators Can Join Malta’s Blockchain Revolution

January 16, 2019

Malta's sandbox environment for virtual financial assets, along with three crypto laws, made it easier for iGaming companies to embrace the new technology.

Biggest Crypto Gaming Summit Returns to Belarus in Crypto Games Conference 2019

January 11, 2019

On April 25 and 26, the crypto gaming industry will gather to discuss iGaming and blockchain technology in Crypto Games Conference 2019 in Belarus.

Blogs

10 Cutest Penguin Slots That Will Leave Your Heart and Wallet Happy

January 18, 2019

Love adorable penguins? Like playing in online casinos? Then check out these 10 penguin-themed online slot games and enjoy the best of both worlds.

10 Convincing Reasons Why mBit Casino Is Your #1 Bitcoin Casino

January 11, 2019

Among every other online crypto casinos, only one stands at the peak. Find out why mBit Casino is the best Bitcoin casino to many bettors.

5 New Online Casino Slot Games You Should Watch out for in 2019

January 3, 2019

Check out these five online slots released by well-respected software developers this 2019 that you should try out in your favorite online casinos.

CHOOSE CASINOS NOW
LOGIN TO BBC
No account yet? Register here
JOIN US NOW
Already have an account? Login