- Legal States
Fiona Simmons January 4, 2023 2 min read
BetConstruct Obtains MGA License to Provide Crypto Solutions
BetConstruct has received an official go-ahead by the Maltese Gaming Authority to accept wagers and deposits placed in cryptocurrencies
The license was issued to Vivaro Limited, which operates the brand. As a result, BetConstruct will be able to benefit from the Virtual Financial Assets mandate and push forward with the adoption of crypto in iGaming and the gaming industry in general.
Pivoting Towards Crypto Future for iGaming
BetConstruct is similarly interested in bringing to players and partner businesses the most innovative and worthwhile experience. This includes new and effective tools that lead to growth, retention, and engagement with target audiences.
The new license will specifically help companies that operate under a BetConstruct white label agreement, which is covered by Vivaro Limited, such as Vbet.net. This way, players at the brands will be able to accept deposits placed directly in crypto and hopefully lead to a strong reception which will boost satisfaction and engagement, BetConstruct hopes.
BetConstruct is not entirely new to the crypto space either. The company has been looking at different ways of gamification, including the launch of its Fasttoken solution, which is now available to more than 70 iGaming content developers and is one of the supported cryptocurrencies at said developers’ online casino games.
Crypto Gathering Momentum in Gambling Industry
Crypto has been picking up popularity around the world. For one, Cloudbet reported that it saw a significant increase in the number of wagers placed in various cryptocurrencies. The operator, though, was blocked in Australia over what the local regulator, ACMA, claimed were unlicensed gambling products. Recently, BetU, a new gaming operator of casino and sportsbook products, launched its crypto-focused website.
The license issued by the Malta Gaming Authority to BetConstruct will definitely help with the further adoption of such solutions in the industry, and more importantly – towards the establishment of a clear-cut and safe framework for consumers and businesses to stick to.