Elray Resources Inc. is poised to begin beta testing its new Bitcoin casino in preparation of launch.
Elray Gaming is a global company with offices in New York, London, Sydney, and Curacao. They provide a complete turnkey solution for numerous online gambling companies in addition to strategic marketing and consulting services to the industry.
Elray Gaming has patented software that determines the location of a player and whether or not it is legal for them to participate in online gambling.
Elray Gaming adheres to all local gaming laws. With questions as to how Bitcoin may be labeled by the online gambling industry, Elray Gaming will treat Bitcoin as if it was cash only. Players will be restricted based upon their locale, or under the Unlawful Internet Gambling Enforcement Act of 2006.
Near the end of October, Online-Casinos.com reports, Elray Gaming had 27 million shares outstanding with 8 million available in the public float.
The value of Bitcoin rose from half of a penny in 2009 to more than 200 today.
“If you had invested $50 into Bitcoins in 2009 your Bitcoin value would now be over 2 Million USD,” Elray CEO, Brian Goodman says. “Bitcoin is a unique opportunity and is gaining more and more momentum and traction, even within the physical world; it is now possible to actually spend Bitcoins without exchanging them for traditional currency. I expect more and more demand and internet usage of the Bitcoin and as such we are developing unique products that will allow online operators of gaming products to accept Bitcoin as a form of payment. There are currently only approximately 12 Million Bitcoins in Circulation and the demand is increasing every day therefore driving the price higher. Demand is fueled primarily by the ease of use and the growing acceptance on the Net.”
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