Legals & Licensing
BetU & BetU Verse casino require online gaming licenses. Both platforms will adhere to all laws and licensing requirements.
BetU Play-To-Earn is a game that does not involve any real gambling, as there is no risk of loss of tokens and therefore does not require a gaming license.
There will be multiple corporations set up in different jurisdictions in order to attain the required licenses globally.
BetU ICO Corp, company number: 2070738, is a registered company in BVI and is responsible for the ICO and technology.
BetU Curacao BV, company number: 158488 is a registered company in Curacao which will hold the initial online gaming license. Curacao is home to approximately 450 online gaming & gambling websites.
A third company will be established in Cyprus as a payment gateway to enable people to purchase BETU tokens from within the platform via bank transfer or debit card. Token purchases will be settled on an exchange.
The initial gaming license is expected in January 2022 following the security certification of the Betu platform.
The Curao license will provide access to most jurisdictions. It restricts betting in the USA, France, The Netherlands, Aruba, Bonaire, Curacao, Saba, St. Eustatius, St. Maarten and sanctioned countries. BetU will be available in most of Europe which is the world’s biggest market for sports betting.
Since a supreme court ruling in May 2018, many states in the US have moved to legalize sports betting. Currently, each state issues its own licenses. BetU will overtime attempt to obtain licenses in all US states where sports betting has been legalized. Based on market conditions, this process will be initiated in 2022.
Geo fencing and IP blockers will be inplace to prevent people betting from jurisdictions where betting is illegal or BetU does not hold relevant licenses.
BetU will have strict KYC, AML and counter terrorism policies in place to adhere to licensing requirements.
BetU has partnered with Onfido to complete its KYC. Onfido provides KYC services to Coinbase, Revolut, Fan Dual, DraftKings and BetMGM.
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