It is a kind of milestone of sorts. RoBET is the first blockchain-based sports betting business to attain a license in the Isle of Man.
This is good news for founder-entrepreneur Edoardo Narduzzi. He had help from Solutions Hub, a local authority on crypto and blockchain gambling licensing.
The Isle of Man Gambling Supervision Commission (GSC) had the honor of granting RoBET permission to bet on 17 different sports using Ethereum, Bitcoin and the company’s own RAC tokens.
According to Narduzzi, this is an enormous achievement for a deserving enterprise.
“RoBET is a smart-contract decentralised, blockchain-based ecosystem or sports betting, utilising artificial intelligence to help customers handle risk management, odd evaluation and odd comparison.”
As for the officials at SolutionsHub, chief Operating Officer Nick Wright noted that the innovative nature of the RoBET technology and business model presents interesting challenges from a regulatory perspective. He maintains that he has worked closely with the GSC that have been very receptive and supportive. Everyone wants to ensure that the calibre of the licensee is suitable for the Isle of Man.
“The Isle of Man is proving to be the go-to jurisdiction for legitimate blockchain betting businesses due to its international reputation, speed to license within the publicised time-frames, cost effectiveness, and ability to engage with the regulator in meaningful, open and transparent dialogue.”