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THE COMING ‘GREAT WEALTH TRANSFER’: WILL BITCOIN HIT $350K BY 2045?

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THE COMING ‘GREAT WEALTH TRANSFER’: WILL BITCOIN HIT $350K BY 2045?

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San Francisco-based cryptocurrency exchange Kraken has published a report predicting that a coming wealth transfer will cause Bitcoin (BTC) to hit $350K by 2044.

The gist of the report is that all those Millennials and Generation Xers, currently in hunkering down in the US as the COVID-19 pandemic rages, now stand to inherit nearly $70 trillion from Baby Boomers over the coming years.

According to Inheriting USDs & Acquiring BTCs: How ‘The Great Wealth Transfer’ Will Fuel ‘The Great Bitcoin Adoption,  the report compiled by Kraken Intelligence, if US Millennials invested 5% of their coming inheritance in Bitcoin (BTC), it could push the price up to $350K by 2044 – in effect, giving the investors $70 trillion of value from a $971 billion investment.

The report also points out that, if the younger generations invest just 1% of the wealth in BTC, it could still reach $70K or more by 2044. It’s also worth noting that the Kraken report only uses US data – if similar patterns emerge elsewhere in the world, it could push the price even higher.

 

The logic is quite simple; that younger generations are more enthusiastic about Bitcoin (BTC), and so more likely to invest in cryptocurrencies than the older ‘Baby Boomer’ generation, who currently control approximately 57% of the total wealth in the United States.

Because around $50 trillion of this wealth is expected to pass to Millennials and GenXers in the coming two years, the phenomena has been dubbed the “Great Wealth Transfer.”

Interestingly, Kraken isn’t exclusively committed to the crypto world anymore, as just two weeks ago it became the first major crypto exchange to launch traditional forex trading.

 

AYO.NEWS says:

Given the timing of this report, we can’t help but suspect its simply a ‘feel good’ marketing piece, aimed at boosting business from the millions of Millennials and GenXers currently stuck at home and looking for things to do.

Precisely because of unprecedented economic crash that has already begun, not to mention the possibility the older generations will be decimated by the pandemic, the statistics and assumptions the report is based on are probably already meaningless.

Trying to predict the future is always hit and miss, but right now it’s absurd.

 

AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.
All original content featured on this site is © Pentagon Digital Limited, 2020.

With several years experience in the igaming and sports betting industries in Malta under his belt, over the last few years Oliver has developed a passion for blockchain and an interest in esports. He’s also a published novelist and has a background in art and photography.


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IGT WINS NORSK TIPPING ONLINE GAMBLING SOLUTIONS CONTRACT

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IGT Global Services has been awarded a contract to supply online gambling solutions to Norwegian state-owned operator Norsk Tipping.

The subsidiary of International Game Technology PLC won the new contract, which is slated to come into effect in February 2021, after a public tender process. It will see IGT continue the supply of its proprietary IGT PlayCasino content, PlayRGS digital gaming platform, and IGT Connect integration layer. 

As part of the new contract, IGT will also continue to supply licensed third-party game content from sub-suppliers NetEnt Malta Limited, and ELKAB Studios AB. 

Commenting on the news Head of Gaming Operations at Norsk Tipping, Hans Erland Ringsvold, said:

“IGT PlayDigital’s solutions enable Norsk Tipping to provide its players with highly engaging online content, including IGT’s top-performing PlayCasino games. When we first entered the iCasino market in 2014, IGT was our sole digital supplier, and since then has been fundamental to our program’s success. We’re pleased to continue this partnership by delivering IGT’s and select third-party content to our players.”

 

While IGT Senior Vice President, PlayDigital, Enrico Drago, added:

“IGT’s best-in-class titles and seamless content aggregation technology ensure that Norsk Tipping can continue to offer their players the widest and most popular selection of entertaining digital games. Adding IGT’s and its sub-suppliers’ growing stable of popular titles for Norsk Tipping also furthers our goal of delivering unrivalled gaming experiences that engage players.”

 

All original content featured on this site is © Pentagon Digital Limited, 2020.

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CONDOR GAMING STRENGTHENS EXECUTIVE TEAM WITH NEW C.T.O.

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Image credit: Condor Gaming

Malta-based Condor Gaming has appointed Alexendre Ouknine as Chief Technology Officer. 

The new posting comes as part of Condor Gaming Group’s ongoing expansion, and will see Ouknine bring more than two decades of experience, in both the public and private sectors, to the company. 

With experience of working with ISPs, border protection programs, and cybersecurity, Ouknine’s appointment will strengthen the group’s tech hubs in Croatia and Bulgaria. The group is also planning to open more offices in Europe and Asia, and expand its headquarters in Malta. 

Operating five casino and sportsbook brands, Condor Gaming has recently moved into emerging markets, with India, Japan, CIS, and Canada being key targets for growth.

Commenting on his new role, Ouknine said:

“I’m honored to get the chance to start at this stage of Condor gaming’s development. We all intend to bring this company to a technological level unparalleled in the industry. The sky’s the limit!”

 

While Condor Gaming’s CCO, Oliver de Bono, welcomed him to the company, saying:

“It’s great to see the company expanding at such a rate, nothing brings more gratification to the table than seeing both your customer base and team grow at such a rate. Having such expertise in the team will only hasten our plans to become a household name in the Igaming sector.”

 

All original content featured on this site is © Pentagon Digital Limited, 2020.

 

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BETBLOCKER’S NEW CALENDARING FEATURE PUTS GAMBLERS IN CONTROL

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UK gambling charity BetBlocker has revealed a new calendaring feature in time for Safer Gambling Week 2020. 

BetBlocker’s new calendaring feature makes it easier for users to control how they block online gambling activities, allowing them to select specific dates for the feature to turn on and off. 

The charity says it introduced the feature in response to feedback from both players and the industry, which revealed many people didn’t want to block their activities completely, but rather simply manage them in a responsible way. 

For example, while the previous BetBlocker software could only block all gambling for a set length of time, the new version allows people to block specific days or periods of time, still allowing them to gamble at specified periods. 

Discussing the new feature, BetBlocker Trustee, Duncan Garvie, said:

“Responsible gambling is about more than the binary option of do or don’t. It’s about helping ensure that people who enjoy gambling can access this activity in a safe and controlled manner.”

“BetBlocker’s new calendaring feature is a leap forward for blocking softwares, extending the service from a simple on/off to a point where users can now tailor restrictions that suit their specific needs.”

 

The new feature has been launched on BetBlocker for Android, and will be implemented in the Windows, Linux, Mac, iOS, and Fire OS apps in the near future. 

 

AYO.NEWS says:

Well done to the BetBlocker team for listening to users and working with the gambling industry on this new, more nuanced control feature. Far too often, the debate around gambling comes down to those who just think it should be blocked or banned, and those who favour no controls at all. 

In reality, if people are provided with easy-to-use tools and comprehensive education, most will be perfectly fine managing their own activities in a responsible way. 

 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 
All original content featured on this site is © Pentagon Digital Limited, 2020.

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SLOT STUDIO TRIPLE CHERRY ENTERS LICENSING DEAL WITH I-CREATE

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Image credit: Triple Cherry

Spanish slots studio Triple Cherry has entered a strategic licensing partnership with US-based i-Create International. 

The agreement will allow Triple Cherry to create video slots based on the popular designs owned by the US company, which has been licensing its original content to major brands including AT&T, Virgin, T-Mobile, and others since 1996. 

By being able to access one of the world’s largest digital asset libraries, Triple Cherry, which is also currently running an investment round aimed at funding expansion in Asian markets, will be able to boost the production of its slot games. 

Regarding the news CEO & Co-Founder of Triple Cherry, Juan Antonio Galindo, said:

“W​e are very happy to start this project with i-Create. They have a huge and excellent catalogue of graphics that will allow us to innovate our product. We hope that this agreement will be very fruitful and that we can continue to grow together​!”

 

While Licensing Advisor of Triple Cherry, Jon Fatelevich, added:

“​I am very happy about the signing of this contract, I truly believe that the partnership between Triple Cherry and I-Create is a great deal for both parties. I-create is one of the most prestigious licenses that best suits our company and increases Triple Cherry’s potential to continue our international expansion. With this agreement our clients, the online casinos, will receive an exclusive product that they will not be able to find in the competition and this will give us a great added value and differential”.

 

And, CEO & Founder of i-Create International, Steve Campanella, noted:

“​We are so delighted to partner with Triple Cherry by having our unique characters and branded digital assets come to life. Over the last two years we have been eager to enter into the casino game development industry with a talented, creative, broadly distributed and intelligent partner. We have now found that perfect partnership between i-Create and Triple Cherry and cannot wait to see the success it brings to everyone involved. This is an exciting time for i-Create”​.

 

AYO.NEWS says:

Despite a few studios pushing the boat out, it’s a fact that the vast majority of slot games are, visually speaking, extremely formulaic and merely copies of other games. So, will this deal with a mainstream and well-established creative supplier enable Triple Cherry to create products that stand out from the crowd? 

 

 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 
All original content featured on this site is © Pentagon Digital Limited, 2020.

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EVERYMATRIX TARGETS NEW JERSEY FOR 1ST U.S. LICENSE

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Image credit: EveryMatrix

Gambling technology provider EveryMatrix has applied for a licence with the New Jersey Division of Gaming Enforcement.

The license will allow the Malta-based company to supply operators with its iGaming integration platform and gaming aggregator CasinoEngine. 

Commenting on the move, President of EveryMatrix Americas LLC, Erik Nyman, said:

“We are very pleased to inform that we have filed our license application in our first US State. The Garden State has enjoyed great success with exceptional development over the last years. This is a testament of the solid regulatory framework based on player protection, business stability and growth.

“EveryMatrix will enter the market in an expansive phase where our products will support the continued growth of operators in New Jersey and more states as we launch in the upcoming years.”

 

New Jersey is on course to generate $1 billion USD in online casino GGR for 2020, making the state one of the world’s largest online gaming markets. 

 

All original content featured on this site is © Pentagon Digital Limited, 2020.

 

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HIGH 5 GAMES GET GO-AHEAD TO LAUNCH REAL MONEY ONLINE SLOTS IN MICHIGAN

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Detroit, Michigan

Casino content provider High 5 Games has been given the green light to roll out its online slot portfolio in Michigan. 

The company already has an established land-based presence in Michigan, with titles including The Green Machine Deluxe, Double Da Vinci Diamonds, Triple Double Da Vinci Diamonds, and Secrets of the Forest available at several casinos. Much of that land-based content will now be available to the state’s online players.

Additionally, High 5 Games’ social games have been available to players in Michigan since 2012, so the company already has a large database of players ready to transition to real money gaming. 

Commenting on the development, CEO and founder of High 5 Games, Anthony Singer, said:

“We’ve expanded into every European market over the last few years, and now we’re refocusing our efforts here at home. Receiving approval for our games to go live in Michigan is a key step. We’ll be there on Day 1, we’ll be in Pennsylvania shortly after, and we’ve made a commitment to be in every state across the US as new iGaming markets open up. Big things are happening.”

 

High 5 Games has been entertaining players in the United States at land-based casinos for 25 years, and has built an extensive online presence in, especially in European markets. With its deep understanding of US players, the company is now well-positioned to capitalise on US state markets as they open up. 

While many of High 5 Games’ New Jersey partners gain access to its titles through several different platforms, including GAN’s GameSTACK, the company is aiming to drive growth in Michigan and beyond through Opus – its own proprietary platform. 

High 5 Games has offices in New Jersey, Malta, and Bulgaria, and is also certified by the UK Gambling Commission, New Jersey Division of Gaming Enforcement, Gibraltar Regulatory Authority, Malta Gaming Authority, and Danish Gambling Authority.

 

All original content featured on this site is © Pentagon Digital Limited, 2020.

 

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