Luckbox maps out expansion plans with new licence
Luckbox has set out plans to establish itself in a number of key markets around the world after becoming the first cryptocurrency-supported esports betting platform to obtain a top-tier gambling licence from the Isle of Man government.
Real Time Games Holding Limited, the company behind Luckbox, secured the full licence under the Online Gambling Regulation Act (OGRA), allowing it to accept fiat, crypto and in-game items as currency.
Luckbox is the brainchild of former PokerStars colleagues Lars Lien and Mike Stevens. The goal of securing an Isle of Man licence was underlined when the duo announced the launch of the venture in January.
Lien told iGamingBusiness.com that the OGRA licence – which enables Luckbox to operate in any jurisdiction where it is legal to do so and where a local licence is not required – had opened up opportunities in a number of key markets.
“We are very keen on markets such as Canada, the Nordics, CIS region and more, and confident we will be operating in the vast majority of relevant markets,” the Luckbox CEO said.
Lien also revealed that Luckbox is currently working on applications for licences in other markets, including the UK.
“We are working on our UK application, which we hope will be ready for launch,” Lien said. “Malta is on our radar and we will be considering a range of local licences, such as Spain. Others, like France, are currently off the table due to complexity, cost and/or market size.”
Luckbox has been in a recruitment phase over recent months, with three former senior members of the PokerStars management team among those to have joined.
Quentin Martin, formerly head of social poker at PokerStars, has taken on the role of chief operating officer, while former PokerStars marketing director Vadim Soloveychik has been appointed as chief marketing officer.
David Lyons also opted to leave his position as the associate director of poker engagement at PokerStars to joins his former colleagues at Luckbox as director of player engagement.
In addition, Paul Chaloner, an influential figure in esports, is serving as an adviser.
Looking ahead to next year’s planned launch, Lien said that the company will not rush the product and will instead ensure the platform is completely ready before going live.
“The complexity of building Luckbox is very significant given how big our plans for the product is,” Lien said. “I could get an esports betting site ready in four weeks with a designer and €100,000, but it would be yet another ‘me too’ product.
“We have a specific internal date we are quite confident with, but nothing I can communicate publicly at this point.”
Lien added that the Luckbox will “deliver an amazing product early next year that will be very hard to copy”.