The esports betting sector is set to gain a further new market entrant as Luckbox.com prepares to make its debut in 2018.
The new esports betting platform is founded by former PokerStars employees Lars Lien (CEO) and Mike Stevens.
Under development since 2016, Luckbox.com is a unique betting venture which to date has raised 483.5 Bitcoin (circa £5 million) from ‘strategic contributors’, with the company planning a further ICO for its 2018 enterprise.
Introducing Luckbox.com, Lien details the ‘founders’ journey’ from online gaming to the burgeoning esports sector.
“We both have a background in the gambling industry – we met when worked together at PokerStars in London but went our separate ways with other work after that. We got our heads together again in 2015 when Mike was in the early stages of planning to build an online casino”
“I’m a big esports fan and it was clear that the massive growth in popularity was only just beginning. In 2015, global esports revenue was worth an estimated $325m and figure has doubled since then. I’d been thinking a lot about gambling in esports, which was then in its infancy, and its enormous potential. Mike and I were soon on the same page and it grew from there”.
Seeking to gain quick traction as a new esports betting incumbent, Luckbox.com aims to be licensed in the Isle of Man, allowing for international expansion and access to mobile app stores.
The start-up further plans to allow players to deposit with cryptocurrencies and in-game items, which they say will open up a number of markets currently restricted by payment blocks.
“Generally speaking crypto has huge potential in the emerging marketplace and many businesses have already woken up to this. The development of smart contracts will be huge. Transactional costs will be lower, people will not need traditional bank accounts and there’s far less risk of corruption.” Lien adds
Lien backs a crypto approach, detailing that Luckbox’s ICO will offer a rare opportunity for contributors by developing a two-token structure allowing its investors to share in the long-term success of the business