FOGINT: Telegram Shifts from Pretending to Promoting Its Casino Play
November 26, 2024
An online service named “EuropeanGaming.eu” published an interesting story about Telegram. As you may know, the founder of VKontakte.ru and Telegram Messenger has been detained by French authorities. Coincident with this restriction on Pavel Durov’s travel, the organizations with which he has been associated have been doing fast-cycle innovation.
The story “CryptoCasino.com Launch to Disrupt iGaming with Groundbreaking Telegram Casino” reports that Telegram has launched:
an innovative Telegram casino that is set to drive player acquisition in the rapidly growing blockchain betting space.
The features of the Telegram casino include — obviously — crypto currency and blockchain as well as:
- 6,000 online slots and table games
- A live dealer casino
- An extra fee sports betting service
- Support for a number of crypto currencies.
The CryptoCasino will feature a new “token” called $CASINO. After the US Securities & Exchange Commission put pressure on Telegram’s fund raising for its GRAM coin, Mr. Durov rejiggled the Telegram operation to accommodate a non-profit operation focused on free speech, building support for broader financial services based on crypto, and a nominal owner of the TON coin. (TON coin is the GRAM crypto renamed and donated to the Open Network Foundation.)
This “casino play” adds to Telegram’s revenue stream opportunities. The write up points out:
CryptoCasino is catering to the over one billion unique Telegram users by building a Telegram Casino integration that allows anybody to immediately join and begin playing with just one click.
The commissions and other fees are one potentially lucrative revenue stream for Telegram.
A second revenue opportunity is the introduction of “VIP” services or “very important person” services. The United Nations’ 2024 UNODC reports in January and October do a very good job of explaining the “value” of casino activities and revenue. You can locate the United Nations’ reports at https://www.unodc.org/.
To get this “casino play” off the ground, the European Gaming report says:
the CryptoCasino .com team understands that the key to rapid growth comes from partnerships with trusted names in the online gaming business. That is why CryptoCasino has partnered with several major names in betting and blockchain including Pragmatic Play, Evolution Gaming, Betby, Oddin. gg, Decubate, Covey, Fireblocks, and others. Certified through CertiK and as a fully licensed platform under Curacao and Anjouan gaming authorities, the platform will provide the highest level of player safety and security, complying with all regulatory statutes for the best crypto betting experience possible.
Will this initiative succeed? Will the French authorities pursue an inquiry into this facet of Mr. Durov’s business interests? How will the Telegram CryptoCasino.com “player” move currency from one wallet to another in Telegram’s crypto environment? Will Telegram extend its cooperation with law enforcement to the new CryptoCasino.com “play”?
Several observations are warranted:
- Telegram is pushing the boundaries of its cooperation and compliance with some regulatory authorities
- The push into overt casino activities complements the effort to move from traditional financial regulatory restrictions to less regulated and controllable gambling activities
- The companion services for the new CryptoCasino.com “play” will have some appeal to those who seek to obfuscate certain types of financial activities.
Net net: Telegram may be responding to the government efforts to get Telegram to cooperate more enthusiastically with investigators by saying, “Okay, you want user names and mobile numbers, check out our encrypted blockchain based crypto play.”
Stephen E Arnold, November 26, 2024
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