Unikrn reveals US plans following crypto licence award

25 October 2018

Unikrn is to launch its esports skill betting platform across the US within two weeks following the receipt of a cryptocurrency licence in the Isle of Man.

Founder Rahul Sood told iGamingBusiness.com that Unikrn uMode – which allows gamers to bet on themselves - will be available in 41 US states by early November, with the company having received positive advice on the legality of the venture.

The Las Vegas-based company also said it has been in talks with US land-based casinos eager to roll out its esports betting platform, where gaming fans can bet on major competitions for titles such as Fortnite and League of Legends. Sood told iGamingBusiness the company is “likely to pick larger national ones so we can run across states”.

Unikrn is now the only live wagering company in the world that has a crypto gambling licence from the Isle of Man, which “brings a new level of credibility” to the sector according to Sood, the former Microsoft executive and founder of VoodooPC.

Unikrn now has access to 20 regions and can handle bets using cryptocurrencies such as its own UnikoinGold token or fiat currencies. The company said its blockchain-based wagering backend system, Unikrn Jet, can power over 9,000 bets per second.

“This is huge for Unikrn, as it's a culmination of all the technology we've been developing for four years,” Sood told iGamingBusiness.com.

“While we could have gone out and acquired a fiat betting licence like everyone else, we really wanted to land a licence for crypto and fiat betting.

“We believe blockchain plays a major role in the future of gambling, and moreover our audience is already familiar with it. With that said, we also wanted to attain licences for our sportsbook, player vs house skill, and an online casino licence.

“Needless to say, Unikrn has the most comprehensive offering for esports and video games fans multiple times over - and this licence from the Isle of Man brings a new level of credibility to the space.”

Unikrn raised $10m in 2015, with billionaire tycoon Mark Cuban, actor Ashton Kutcher and Tabcorp among the investors. It then received $32m from its ICO for UnikoinGold.

Sood told iGamingBusiness.com that funding is not currently an issue despite the company’s expansion plans for the coming months.

“Our cost of customer acquisition is relatively low given our position in the esports ecosystem,” Sood said. “With that said, we may consider adding more funding in the future - there's multiple ways we can do this, we're considering any and all options.”