Ifrah Law on NFTs: What is an NFT?
It would be hard to over-exaggerate the hype that has grown around non-fungible tokens (“NFTs”) over the past year as a result of the meteoric rise of Bitcoin, cryptocurrencies, and other blockchain-based technologies. NFT sales skyrocketed in 2021 to $25 billion, a colossal increase from $94.9 million in 2020. [1] And the number of unique…
Read MoreOhio Sports Betting Advertising and Marketing Affiliate Guidance
On January 31, 2022, Ohio Casino Control Commission (“Commission”) released its third batch of draft rules for legal sports wagering. So far, none of the Commission’s batches of rules have discussed requirements for marketing affiliates. Although, the Commission also released on January 31, 2022, a Sports Gaming FAQs page on their website[1], which dedicates an…
Read MoreMaryland Sports Betting Bill Moving Ahead, Includes Preferences for Minority Owned Operators
Sports betting is now legal in Maryland. As part of the 2020 election, Maryland voters approved a Constitutional amendment to allow sports betting. The Maryland legislature is now racing to legalize and regulate sports gambling in the state. On February 2nd, 2021, the Maryland House of Delegates released a sports betting bill that would create…
Read MoreD.C. Becomes First Place in U.S. to Legalize Online Poker
April 7, 2011 saw a historic moment in igaming as the District of Columbia became the first American jurisdiction to enact a law that allows online poker wagering. The amendment, called the “Lottery Modernization Act of 2010” for the year it was introduced, is part of a larger budget bill passed by the D.C. Council…
Read MoreNow That Sports Betting Is Legal, Here’s How You Get Paid
Congratulations, you won a sports bet! What happens now? In the five states where sports betting is now legal, any qualifying individual who places and wins a sports bet can exchange their winning ticket for payment. That means any individual who can prove they are over 21 through an in-person check or the latest digital…
Read MoreiDEA Growth Members Correctly Optimistic about 2022 in iGaming and Sports Betting Legalization
In a survey published this week by iDEA Growth, a national trade association for the online sports betting and iGaming industry, over 63 percent of those surveyed believe that between three and five states will legalize sports betting in 2022, with most naming Ohio, Massachusetts, and Kansas as the three states most likely to do…
Read MoreUses and Abuses of Decentralization in Gambling
Decentralization has been the selling point of many platforms using blockchain-based technologies including cryptocurrencies such as Bitcoin. Many believe that decentralization by blockchain has the potential to disrupt multiple industries from finance to art. These decentralized equivalents are called ‘dapps.’ And over the past few years there have been several attempts to decentralize and disrupt…
Read MoreNew York Sports Betting Marketing Affiliate Requirements
On November 8, 2021, New York officially announced the mobile sportsbooks it will license for online operations. The mobile sportsbooks named were Caesars Sportsbook, Resorts World Bet, PointsBet, Rush Street Interactive, WynnBET, FanDuel, Bally Bet, BetMGM, and DraftKings. The state is aiming to go live with online sports betting prior to the 2022 Super Bowl…
Read MoreMobile Gaming is Now Mobile
Last week, the Financial Crimes Enforcement Network (FinCEN) issued guidance that removes a significant hurdle from the daily operations of the mobile betting industry. Under a regulatory component of the USA Patriot Act,[1] casinos are required to use documentary evidence (such as a driver’s license or passport) to verify their customer’s identity in establishing accounts. …
Read MoreShaken to the Core
This month in San Francisco, U.S. District Court Judge Yvonne Gonzalez Rogers ruled that Apple must stop forcing game developers to exclusively use its payment system in their app purchases. With the ruling, app developers can include a link or other advertisement to facilitate alternative ways of paying for each app. The suit was brought…
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