Team has been involved in a substantial number of the digital media, sports, entertainment, leisure and gaming industries’ most significant merger and acquisition transactions, holding key positions at, and transacting with Scientific Games Corp, Inspired Gaming Group, FOX Bets, Ocean Casino Resort, Resorts International Holdings, PokerStars, DraftKings, Mohegan Sun, Caesars Entertainment Corporation, Harrah’s Entertainment, Tropicana Entertainment, Inc., TSG/Sky Betting & Gaming, Facebook, Inc, Wynn Resorts, Dubai World/MGM Resorts
Here's all the Bios. These guys are stellar! TEKK closed at $10.30 today. Still cheap!
If you don't like to read... you don't like to make money!!!!
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Matthew Davey — Chief Executive Officer and Director
Mr. Davey has over 25 years of experience within the digital media, sports, entertainment, leisure and gaming ecosystems, as well as experience in the public sector. He is an experienced public company executive officer and board member. He has served in executive management positions across the gaming technology arena. Over the course of Mr. Davey’s career, he oversaw more than ten mergers and acquisitions and over $1.2 billion in debt and equity capital raised to support the companies he has led.
Most recently, Mr. Davey was Chief Executive Officer of SG Digital, the Digital Division of Scientific Games Corp. (“Scientific Games”) (Nasdaq: SGMS). SG Digital was established following the purchase by Scientific Games of NYX Gaming Group Limited (“NYX”) (formerly TSXV: NYX), where Mr. Davey served as Chief Executive Officer and Director. The NYX acquisition provided Scientific Games with a vehicle to significantly accelerate the scale and breadth of its existing digital gaming business, including the strategic expansion into sports betting. In his capacity as Chief Executive Officer of NYX, Mr. Davey developed and implemented a corporate strategy that generated strong revenue growth. Mr. Davey shaped company strategy to focus on digital gaming supplier platforms and content that provided various gaming operators with the underlying gaming and sports betting systems for their online gaming business. In 2014, Mr. Davey oversaw the initial public offering of NYX, and his experience in the digital media, sports, entertainment, leisure and gaming industries helped NYX recognize momentum as a public company. After the public offering, from 2014 to 2018, Mr. Davey oversaw seven acquisitions which helped establish NYX as one of the fastest growing global B2B real-money digital gaming and sports betting platforms. These acquisitions included:
• OpenBet: In 2016, NYX completed the $385 million acquisition of OpenBet. This was one of the more complex and transformative acquisitions that Mr. Davey oversaw at NYX. Through securing co-investments from William Hill (LSE: WMH), Sky Betting & Gaming and The Stars Group (formerly Nasdaq: TSG, TSX: TSGI), Mr. Davey was able to get the acquisition from Vitruvian Partners completed successfully, winning the deal against much larger and well capitalized competitors. By combining two established and proven B2B betting and gaming suppliers, NYX was well positioned to provide customers with exciting player-driven solutions across all major product verticals and distribution channels. This allowed NYX to become the leading B2B omni-channel sportsbook platform in the market and the supplier to over 300 gaming operators globally with an extensive library of desktop and mobile game titles, including more than 700 on NYX platforms and more than 2,000 on the OpenBet platform.
• Cryptologic/Chartwell: In 2015, NYX completed the $119 million acquisition of Cryptologic and Chartwell. The acquisition provided NYX with more than 400 titles of additional leading gaming content, a broader customer base, and direct exposure to PokerStars and Intercasino, part of the Gamesys Group (LSE: GYS) — two of the world’s largest online casino offerings.
• OnGame: In 2014, NYX completed the distressed acquisition of OnGame, a premier poker content, platform and service provider. This acquisition provided NYX with one of the best poker products in the industry, access to several regulated jurisdictions, and a valuable talent pool that was instrumental in the growth of NYX. The addition of OnGame further established a path for NYX to continue its growth in both European and U.S. markets.
These acquisitions, together with meaningful organic growth, increased NYX’s revenue from $24 million in 2014 to $184 million annualized in 2017. During that time, Mr. Davey helped build NYX to have over 200 customers in the global gaming industry and a team of 1,000 employees. Mr. Davey’s success at NYX ultimately led to its sale to Scientific Games for $631 million in 2018.
Mr. Davey joined Next Gen Gaming, the predecessor to NYX, in 2000 as the Vice President of Technology, was appointed as Executive Director in 2003 and named Chief Executive Officer in 2005. Prior to that, he was the Senior Consultant for Access Systems, a company that specializes in the provision of back-end software for licensed online casinos. Prior to joining Access, Mr. Davey worked for the Northern Territory Government specializing in matters pertaining to the internet and e-commerce along with roles in the Department of Racing and Gaming. Mr. Davey received a Bachelor of Electrical & Electronic Engineering from Northern Territory University, Australia (also known as Charles Darwin University).
Robin Chhabra — President
Mr. Chhabra has been at the forefront of corporate acquisition activity within the digital gaming landscape for over a decade. His prior experience includes leading corporate strategy, M&A, and business development at two of the global leaders in the digital gaming industry, The Stars Group (“TSG”) and William Hill, and a leading supplier, Inspired Gaming Group (Nasdaq: INSE). Mr. Chhabra served on the Group Executive Committees of each of these companies. From 2017 to May 2020, Mr. Chhabra served as Chief Corporate Development Officer at TSG and, from 2019 to August 2020, he also served as the Chief Executive Officer of Fox Bet, a leading U.S. online gaming business which is the product of a landmark partnership between TSG and FOX Sports, a transaction which he led. During that period, Mr. Chhabra led several transactions which transformed TSG into the largest publicly listed online gambling operator in the world by both revenue and market capitalization and one of the most diversified from a product and geographic perspective with revenues of over $2.5 billion. Mr. Chhabra’s M&A experience is extensive and covers multiple global geographies across the digital gaming value chain and includes the following:
• TSG/Flutter Entertainment Merger: In 2019, Mr. Chhabra led the TSG M&A team that was responsible for TSG’s $12.2 billion merger with Flutter Entertainment (LSE: FLTR). The merger between TSG and Flutter Entertainment is the largest transaction in the digital gaming industry to date. The combination created the largest publicly listed online gaming company with approximately 13 million active customers and leading product offerings, which include sports betting, online casino, fantasy sports and poker. The combined entity includes some of the world’s most iconic digital gaming brands such as Fanduel, Fox Bet, Sky Bet, PaddyPower, Betfair, PokerStars and SportsBet. TSG/Flutter Entertainment is one of the most geographically diverse digital gaming and media companies with leading positions in the United States, United Kingdom, Australia, Ireland, Italy, Spain, Germany and Georgia.
• TSG/Sky Betting and Gaming (“SBG”): In 2018, Mr. Chhabra led the acquisition of SBG from CVC Capital Partners and Sky plc, Europe’s largest media company, in a transaction valued at $4.7 billion. At the time of the acquisition SBG was the largest mobile gambling operator in the United Kingdom and one of the fastest growing of the major operators having doubled its online market share in three years. The acquisition of SBG provided TSG with (a) greater revenue diversification, significantly enhanced expertise and exposure to sports betting just ahead of the judicial overturn of The Professional and Amateur Sports Protection Act of 1992 (PASPA) by the U.S. Supreme Court, (b) a leading position within the United Kingdom, the world’s largest regulated online gaming market, (c) improved products and technology as a result of the addition of SBG’s innovative casino and sports book offerings and a portfolio of popular mobile apps, and (d) expertise in deeply integrating sports betting with leading sports media companies, positioning TSG to create more engaging content, deliver faster growth and decrease customer acquisition costs.
• William Hill (LSE: WMH): At William Hill, from 2010 to 2017, Mr. Chhabra served as Group Director of Strategy and Corporate Development where he led several transactions which contributed to William Hill’s transformation from a land-based gambling operator in the United Kingdom to a leading online-led international business. Mr. Chhabra led William Hill’s entry into the U.S. sports betting and online lottery markets with the acquisition of four businesses, including the simultaneous acquisitions of three U.S. sportsbooks, Cal Neva, American Wagering and Brandywine Bookmaking, in 2011 for an aggregate purchase price of $55 million. These businesses ultimately led William Hill to achieve a leading position in the U.S. sports betting market with a market share of 24% in 2019. Additionally, Mr. Chhabra played a key role in structuring William Hill’s successful joint venture with PlayTech Plc (LSE: PTEC) in 2008. The combined entity created one of the largest online gambling businesses in Europe at the time of its formation and led to William Hill’s buyout of Playtech’s interest for $637 million in 2013. Prior to the transaction, William Hill had struggled in its attempt to establish a strong online gaming platform and a meaningful presence outside the United Kingdom.
Mr. Chhabra has also successfully completed four transactions worth over $1.2 billion in Australia, the world’s second largest regulated online gambling market, and various partnerships in Asia. Additionally, he completed several technology and media related transactions, including William Hill’s investment in NYX, where he worked with Mr. Davey on NYX’s transformational acquisition of OpenBet.
Prior to working in the gaming sector, Mr. Chhabra was an equities analyst and a management consultant. Mr. Chhabra received a Bachelor of Science in Economics from the London School of Economics and Political Science.
Eric Matejevich — Chief Financial Officer
Mr. Matejevich is a seasoned gaming executive with extensive experience in both the online gaming and traditional casino industries. From February to August 2019, he served as Trustee and Interim-Chief Executive Officer of Ocean Casino Resort (“Ocean”) (formerly Revel Casino, which had a construction cost of $2.4 billion) in Atlantic City, where he successfully led the management team through an ownership change and operational turnaround effort. Over the course of seven months, Mr. Matejevich managed to reduce the property’s weekly cash burn of $1.5 million to an annualized cash flow run rate in excess of $20 million.
Prior to Ocean, from 2016 to 2018, Mr. Matejevich served as the Chief Financial Officer of NYX. At NYX, he focused his efforts on integrating the company’s many acquisitions and multiple debt refinancings to simplify its capital structure and provided liquidity for growth initiatives. Additionally, Mr. Matejevich was instrumental to the executive team that sold NYX to Scientific Games for $631 million.
Prior to NYX, from 2004 to 2014, Mr. Matejevich was the Chief Financial Officer of Resorts International Holdings and later, from 2011, also the Chief Operating Officer of the Atlantic Club Casino, a property under the Resorts International Holdings umbrella — a Colony Capital (NYSE: CLNY) entity. As Chief Financial Officer, he provided managerial oversight for all finance functions for a six-property casino company with annual gaming revenue exceeding $1.3 billion, 10,000 gaming positions, 7,000 hotel rooms and over 11,000 staff members during his tenure. Mr. Matejevich led the transition effort to integrate a four-casino, $1.3 billion acquisition from Harrah’s Entertainment and Caesars Entertainment (Nasdaq: CZR). As Chief Operating Officer of Atlantic Club, he lobbied for and was successful in obtaining the first internet gaming legislation passed in the United States. The Atlantic Club was the sole New Jersey casino proponent of the legislation.
Prior to serving in various gaming positions, Mr. Matejevich was a Vice President of High Yield Research for Merrill Lynch, where he managed the corporate bond research effort for the gaming and leisure sectors and marketed high yield and other debt transactions totaling $4.8 billion. Mr. Matejevich received a Bachelor of Science in Economics from The Wharton School and a Bachelor of Arts in International Relations from The College of Arts and Sciences at the University of Pennsylvania.
Our Board of Directors
Morris Bailey — Chairman
Over the past 10 years, Mr. Bailey has been a leader in turning around Atlantic City, as well as being among the first gaming executives to embrace online gaming and sports betting in the United States. In his efforts, Mr. Bailey partnered with two of the largest digital gaming companies in the world, PokerStars, part of the Stars Group, and DraftKings (Nasdaq: DKNG). In 2010, Mr. Bailey bought Resorts Atlantic City (“Resorts”) and initiated a comprehensive renovation which allowed for the property to be rebranded and repositioned. In 2012, Mr. Bailey signed an agreement with Mohegan Sun to manage the day-to-day operations of the casino. In addition to Mohegan Sun’s operational expertise and ability to reduce costs via economies of scale, Resorts gained access to their robust customer database. Soon thereafter, Mr. Bailey and his team focused on bringing online gaming to the property. In 2015, Resorts established a platform to engage in online gaming by partnering with PokerStars, now part of the $24 billion Flutter Entertainment, PLC (LSE: FLTR), to operate an online poker room in Atlantic City. In 2018, Resorts announced deals with DraftKings and SBTech to open a sportsbook on-property and online. For 2020 year-to-date, Resorts has performed in the top quartile in internet gross gaming revenue in New Jersey. Mr. Bailey’s efforts in New Jersey helped set the framework for expansion of online sports and gaming throughout the United States.
In addition to his gaming interests, Mr. Bailey has over 50 years of experience in all facets of real estate development, asset M&A, capital markets and operations and is the founder, Chief Executive Officer and Principal of JEMB Realty, a leading real estate development, investment and management organization. Mr. Bailey has notable investment experience within the energy, finance and telecommunications sectors through investments in the Astoria Energy Plant, Basis Investment Group and Xentris Wireless.
Tony Rodio — Director Nominee
Mr. Rodio has nearly four decades of experience in the gaming industry. Most recently, Mr. Rodio served as the Chief Executive Officer and director of Caesars Entertainment Corporation (“Caesars”) (Nasdaq: CZR), one of the world’s most diversified casino-entertainment providers and the most geographically diverse U.S. casino-entertainment company, from April 2019 until its acquisition by Eldorado Resorts, Inc. in July 2020. Mr. Rodio led Caesars through its $17.3 billion merger with Eldorado Resorts, one of the largest transactions in the gaming industry to date. Additionally, Mr. Rodio was instrumental to Caesars’ expansion into the digital gaming industry and oversaw the implementation of new digital segments such as its Scientific Games powered retail sportsbook solution that now operates in various states throughout the U.S. From October 2018 to May 2019, Mr. Rodio served as Chief Executive Officer of Affinity Gaming. Prior to Affinity Gaming, he served as President, Chief Executive Officer and a director of Tropicana Entertainment, Inc. (“Tropicana”) for over seven years, where he was responsible for the operation of eight casino properties in seven different jurisdictions. During his time at Tropicana, Mr. Rodio oversaw a period of unprecedented growth at the company, improving overall financial results with net revenue that increased more than 50% driven by both operational improvements and expansion across regional markets. Mr. Rodio led major capital projects, including the complete renovation of Tropicana Atlantic City and Tropicana’s move to land-based operations in Evansville, Indiana. Each of these initiatives, among others, generated substantial value for Tropicana. Ultimately, Mr. Rodio’s efforts at Tropicana led to its sale to Eldorado Resorts in 2018 for $1.85 billion. Prior to Tropicana, Mr. Rodio held a succession of executive positions in Atlantic City for casino brands, including Trump Marina Hotel Casino, Harrah’s Entertainment (predecessor to Caesars), the Atlantic City Hilton Casino Resort and Penn National Gaming. He has also served as a director of several professional and charitable organizations, including Atlantic City Alliance, United Way of Atlantic County, the Casino Associations of New Jersey and Indiana, AtlantiCare Charitable Foundation and the Lloyd D. Levenson Institute of Gaming Hospitality & Tourism. Mr. Rodio brings extensive knowledge of and experience in the gaming industry, operational expertise, and a demonstrated ability to effectively design and implement company strategy. Mr. Rodio received a Bachelor of Science from Rider University and a Master of Business Administration from Monmouth University.
Marlon Goldstein — Director Nominee
Mr. Goldstein is a licensed attorney with nearly 20 years of experience in the gaming space. He joined The Stars Group (Nasdaq: TSG)(TSX: TSGI) in January 2014 as its Executive Vice-President, Chief Legal Officer and Secretary until his retirement from the company in July 2020 following the merger of TSG with Flutter Entertainment, PLC (LSE: FLTR). Mr. Goldstein also previously served as the Executive Vice-President, Corporate Development and General Counsel of TSG. Mr. Goldstein was also the senior TSG executive based in the United States and was one of the primary architects of TSG’s strategic vision for its U.S.-facing business. During his tenure, TSG grew from an approximately $500 million market-cap company to an approximately $7 billion market-cap company through a combination of organic growth and strategic mergers and acquisitions. Mr. Goldstein participated in numerous M&A transactions and capital markets offerings at TSG, including several transformational transactions in the digital gaming industry. Notable transactions in which Mr. Goldstein was involved include:
• TSG/Flutter Merger: In 2019, TSG merged with Flutter for a $12.2 billion transaction value, the largest transaction in the digital gaming industry to date.
• TSG/Fox Bet Partnership: In 2019, TSG entered into a partnership with FOX Sports to create FOX Bet in the U.S., a leading U.S. online gaming business. Wall Street Research estimates an approximate $1.1 billion valuation for Fox Bet post-partnership with The Stars Group.
• TSG/Sky Betting & Gaming: In 2018, TSG acquired Sky Betting & Gaming, the largest mobile gambling operator in the United Kingdom at the time, for $4.7 billion.
• TSG/CrownBet and William Hill: In 2018, TSG simultaneously acquired CrownBet and William Hill, two Australian operators, for a total of $621 million in a multi-part transaction.
• TSG/PokerStars and Full Tilt Poker: In 2014, TSG acquired The Rational Group, which operated PokerStars and Full Tilt and was the world’s largest poker business, for $4.9 billion.
Through his ability to legally structure large and complex transactions, Mr. Goldstein was integral to TSG’s vision of becoming a full-service online gaming company. Additionally, he assisted in structuring TSG’s capital markets activity, which generated liquidity for acquisitions and strengthened its balance sheet.
Prior to joining TSG, Mr. Goldstein was a principal shareholder in the corporate and securities practice at the international law firm of Greenberg Traurig P.A., where he practiced for almost 13 years. Mr. Goldstein’s practice focused on corporate and securities matters, including mergers and acquisitions, securities offerings, and financing transactions. Additionally, Mr. Goldstein was the founder and co-chair of the firm’s Gaming Practice, a multi-disciplinary team of attorneys representing owners, operators and developers of gaming facilities, manufacturers and suppliers of gaming devices, investment banks and lenders in financing transactions, and Indian tribes in the development and financing of gaming facilities.
Mr. Goldstein brings experience and insight that we believe will be valuable to a potential initial business combination target business. Mr. Goldstein received a Bachelor of Business Administration with a concentration in accounting from Emory University and a Juris Doctorate with highest honors from the University of Florida, College of Law.
Sean Ryan — Director Nominee
Mr. Ryan is a digital media and technology operator with extensive global experience in online payments, e-commerce, marketplaces, mobile ad networks, digital games, enterprise collaboration platforms, blockchain, real money gaming and online music. Since 2014, Mr. Ryan has been serving as Vice President of Business Platform Partnerships at Facebook, Inc. (“Facebook”) (Nasdaq: FB), where he leads a more than 500 person global organization that manages the Payments, Commerce, Novi/Blockhain, Workplace and Audience Network businesses. Prior to his current role, Mr. Ryan was hired in 2011 as the Director of Games Partnerships to lead and grow the global Games business at Facebook. While the Director of Games Partnerships, Mr. Ryan focused on re-shaping Facebook’s games and monetization strategies to derive more value for Facebook, its users and its partners, including the addition of a Real Money Gaming offering in regulated markets. Mr. Ryan’s team helped accelerate a major trend in engagement through cross-platform games and therefore the opportunity to increase users through establishing games on multiple platforms. Prior to joining Facebook, Mr. Ryan created the new social and mobile games division at News Corp, an American multinational mass media corporation controlled by Rupert Murdoch. While at News Corp, Mr. Ryan led the acquisition of Making Fun, a San Francisco social-game start-up, that created News Corp’s games publishing division.
Before joining News Corp., Mr. Ryan founded multiple digital businesses such as Twofish, Meez, Open Wager and SingShot Media. Mr. Ryan co-founded Twofish in 2009, a virtual goods and services platform that provided developers with data analytics and insights for individual application’s digital economies. Twofish was later sold to online payments provider Live Gamer, where Mr. Ryan served on the board of directors. From 2005 to 2008, Mr. Ryan founded and led Meez.com, a social entertainment service combining avatars, web games and virtual worlds. The white label social casino gaming company Open Wager was spun out of Meez and was later sold to VGW Holdings, Mr. Ryan also co-founded SingShot Media, an online karaoke community, which was sold to Electronic Arts (Nasdaq: EA) and merged into its Sims division.
We believe Mr. Ryan’s experience will be valuable to a potential initial business combination target and would provide an expanded perspective on the digital gaming landscape. Mr. Ryan received a Bachelor of Arts from Columbia University and a Master of Business Administration from the University of California, Los Angeles.
Tom Roche — Director Nominee
Mr. Roche has more than 40 years of experience in the gaming industry as a regulator, advisor and independent auditor. Mr. Roche joined Ernst & Young (“EY”) as a partner in 2003 and opened its Las Vegas office. He was subsequently appointed as the Office Managing Partner and Global Gaming Industry Market Leader. In 2016, Mr. Roche relocated to the EY Hong Kong office to supervise the expansion of the EY Global Gaming Industry practice in the Asia Pacific region. Mr. Roche has been integral to numerous transactions that have shaped the current gaming landscape, including:
• Wynn Resorts (Nasdaq: WYNN) initial public offering: Mr. Roche was the lead partner on Wynn Resort’s initial public offering, which raised $450 million in 2002.
• Harrah’s Entertainment/Apollo Management Group & Texas Pacific Group: Mr. Roche headed the regulatory advisory services on the buyout of Harrah’s Entertainment, the world’s largest casino company at the time, for $17.1 billion.
• Dubai World/MGM Resorts: Mr. Roche headed the regulatory and due diligence advisory services to Dubai World in its approximately $5.1 billion investment in MGM. Dubai World bought 28.4 million MGM shares, or 9.5 percent of the casino operator, for $2.4 billion. It then invested $2.7 billion to acquire a 50% stake in MGM’s CityCenter Project, a $7.4 billion 76-acre Las Vegas development of hotels, condos and retail outlets.
• MGM Growth Properties (NYSE: MGP) initial public offering: Mr. Roche provided tax and structural transaction services to MGM Resorts in the creation of MGM Growth Properties, a publicly traded REIT engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts. MGM Growth Properties raised $1.05 billion in its 2016 initial public offering.
Mr. Roche also directed EY advisory services to boards and management teams for profit improvement and technology related initiatives. In addition, Mr. Roche provided advisory support to the American Gaming Association on several research projects, including those specifically related to sports betting, the revocation of The Professional and Amateur Sports Protection Act of 1992 (PASPA) and anti-money laundering best practices in the gaming industry. Equally, he has assisted government agencies in numerous international locations with enhancing their regulatory approach to governing the industry especially in the online gambling sector.
Prior to joining Ernst & Young, Mr. Roche served as Deloitte’s National Gaming Industry Leader and as the co-head of Andersen’s Gaming Industry Practice in Las Vegas. In 1989, Mr. Roche was appointed by then Governor of the State of Nevada, Robert Miller, to serve as one of three members of the Nevada State Gaming Control Board for a four-year term, where he was directly responsible for the Audit and New Games Lab Divisions. As a board member, he spent a substantial amount of time assisting global jurisdiction regulators enact gaming legislation in the design of their regulatory structure. During his career, Roche has been involved in numerous public and private offerings of equity and debt securities. His background includes providing casino regulatory consulting services to casino licensees and to federal and state agencies including the National Indian Gaming Commission and the Nevada State Gaming Control Board, and industry associations such as the Nevada Resort Association and the American Gaming Association.
We believe Mr. Roche’s highly regarded reputation as a gaming auditor and advisor in the gaming industry will be valuable for us and a potential business combination target. Mr. Roche is a member of the American Institute of Certified Public Accountants and is licensed by the Nevada State Board of Accountancy and Mississippi State Board of Public Accountancy. He received his Bachelor of Science degree in Accounting from the University of Southern California.

FunFair - An In-Depth Analysis (Updated April 25th)

FunFair has been up to a lot of things, and thus, the post made a few months ago is quite outdated. I’ve written this just to keep the subreddit updated, and to have a nicely formatted post full of information regarding FunFair for both newcomers and “veterans”. This post will be updated more often than not, and when the time comes for a new one again, it shall be written! Cheers.

What is FunFair?

FunFair is a decentralized gaming technology platform which uses the Ethereum blockchain, smart contracts, and proprietary state channels (Fate Channels) to deliver casino solutions with state of the art games that are fast, fun, and fair.
FunFair is not a casino. Instead, FunFair will license its technology out to casino operators. Being a casino carries with it risks and burdens stemming from statutory and regulatory hurdles. Being a licensing entity instead, provides legal safeguards and will enable a more widely used platform.

Why was FunFair created?

There are many costs, headaches, and complications with online casinos. Briefly, they are the fees associated with operations (servers, infrastructure, large employee-base, fraudulent activity investigations, chargebacks) etc. Attracting players and gaining their trust comes afterwards, which is another issue within itself. There is a blatant trust issue with conventional online gaming that FunFair aims to diminish, while creating a seamless experience for both operator and player.

The Market.

Online gambling is a large market: Currently over 47.1 billion dollars in market volume and projected to continue increasing quite exponentially. FunFair is also attempting to capture a new market of casino operators and players that aren’t currently factored into this estimate.

The Team.

The FunFair team consists of 40+ developers, industry executives, and professionals. They have one of the largest teams in cryptocurrency. Feel free to check them out on their website: https://funfair.io/how-it-works/our-team/
Notably, the first five employee profiles presented on the website are:
Jez San OBE, Founder, CEO
Jez San is a British technology entrepreneur and investor whose pioneering work in the field of real time 3D computer graphics led to being awarded the OBE for services to the computer games industry.
Jez founded Argonaut Software in his teens and designed the first chip used to power 3D games including multi-million-selling Star Fox, Harry Potter and Croc. He also founded 3D online poker room PKR and microprocessor developer Arc International.
Since 2013 Jez has been an active investor in the blockchain and cryptocurrency sector. His investments include Google’s DeepMind and online cryptocurrency exchange Kraken.
Jeremy Longley, Founder, CTO
Over 15 years’ experience managing technology teams – from the development of advanced video-game software through to the deployment and operation of enterprise-scale infrastructure.
Oliver Hopton, Founder, Developer
Oliver Hopton is an experience developer and team lead with over 15 years experience building gaming products. He spent 10 years working at online poker room PKR as Software Development Manager working on a huge variety of administration tools and integrations with 3rd party gaming content and providers. Heavily involved in technical compliance for gaming license applications in Guernsey, the UK, France, Italy and Denmark.
He then spent 18 months as CTO of EveryFan, responsible for architecting and building a UK facing sports betting product.
David Greyling, COO
David has more than 20 years’ experience in E-Commerce related organisations. In his role as COO, David is responsible for leading the business development, strategy, operations, finance and corporate functions.
With extensive leadership experience in Digital marketing and E-commerce international companies, David specialises in leading business integration and transformation programmes.
Prior to his current position David was Director of International for William Hill PLC, reporting to the board on market expansion, regulation and strategic change management programs.
Stefan Kovach, Business Strategy and Marketing Consultant
Stef is an industry executive with with a wealth of experience, having headed up the marketing functions of both PokerStars and bwin.party - two of the biggest brands in online gambling.

Career Opportunities

Further, FunFair is looking to expand – and fast. They expect to have a team of 50+ people in the not-so-distant future, as they are currently hiring developers, business and marketing professionals, and so forth. So, if you’re looking for an opportunity to showcase your expertise in these fields, try your shot at securing a position within the company! (https://www.funfair.io/careers) The FunFair team’s base of operations is in London, UK.
Some of the positions currently offered in the United Kingdom, England, London:

C#/Javascript Developer
C#/Javascript Developer - Domain
C#/Javascript Developer - KYC
Community Manager
Senior Business Analyst
UI Developer
Senior Developer - Typescript
VP Product Owner

When did they start the project?

Technically, FunFair started on June 22nd, 2017, because all FUN tokens that will ever exist were created on this day. However, the idea, technology, and product were being developed before the ICO started.

What have they accomplished to date?

FunFair have accomplished a lot since their inception- consistently updating development, business operations, and hiring many new staff. From Sponsoring DevCon 3, receiving awards from the Malta Gaming Awards, excellent showcase updates, and launching their product to the gaming industry at the International Casino Exhibition which boasted over 30,000 industry attendees, they have been on track to their public release. With the release of the closed beta right around the corner, the future is bright for FunFair.

Ok, so what is the technology? What are they developing?

FunFair is building their decentralized platform and protocol on top of Ethereum’s blockchain. FunFair is developing the game technology, and their proprietary, advanced state channel technology which they call Fate Channels. The platform that FunFair has created and continues to develop, will allow anyone to run a casino in just a few clicks, allow third party developers to distribute and integrate their own games to a new, global audience, while creating the ultimate casino experience for end users.
Fate Channels are FunFair’s custom, proprietary version of State Channels. They are superior technology to current State Channels, as they are what support the communication during game sessions between player and casino, while executing entire game logic and random number generation off-chain. They provide a fast, low cost method for RNG, starting game sessions, ending them, and settling with smart contracts on the blockchain. There is only one gas fee needed to start the game session, which solves scalability issues with platforms like Ethereum.
For an in-depth explanation that you won’t be disappointed in reading, please refer to the technical white paper here: https://funfair.io/wp-content/uploads/FunFair-Technical-White-Paper.pdf

What really happens in the Fate Channels?

FunFair’s random number generation is executed within the Fate Channel, and is a commit/reveal scheme that makes it provably fair. There are also a hash chain to prove that the overall sequence is indeed fair.
A player enters a FunFair-powered casino with some FUN tokens in their wallet, and then both the casino and player send FUN tokens from each of their personal wallets into a smart contract which then holds the FUN in escrow via the Fate Channels (off-chain) until the player cashes out/closes the channel.
The player and casino swap random seeds that they have generated locally, and these are then hashed numerous times by both parties in private. The sequence of hashes are stored locally by each party. There could be thousands of hashes, which become the random numbers, and are passed one by one, in reverse order, by the casino to the player and vice versa when the game needs randomness. Since the hashes are in reverse order, a new hash will always hash into the previous one, so that it can be verified that it’s the correct value of the next hash. The first hash is committed in the state channel on the blockchain as it was opened, and this is what will be used later to reveal that the random number generation was correct.
The position that a ball lands on in a roulette spin, for example, is computed this way. The two hashes provided by both player and casino are combined into a random number that neither side could have predicted. It’s provably fair because because it can be shown that they come from the same hash chain in the correct sequence, and it can be shown after the game session is over, using the reveal to show the seed was in fact, committed to the blockchain in advance of the games played.
The random number generation scheme works extremely fast, and is not dependent and waiting on the blockchain for verification every time, yet it is provably fair in both randomness and sequence. It is easy to detect cheating by either side (for instance, the random number generations would go out of sequence). The security of the hash chain is what makes the randomness unpredictable. If it is possible to reverse a hash, you could predict the random number generation. FunFair uses SHA-3 for hash generation, which has not been reversed yet, and is likely to last in strength for some decades.

The platform.

FunFair presents its casino operators and players with a gaming opportunity never seen before:

Decentralized, essentially serverless
Provably fair, blockchain-based
Trust-less outcomes that can be witnessed on verifiable smart contracts
Instant cashouts - casinos do not hold your funds
Accessible through web browser on desktop or mobile
Fun games with an exciting user interface
Casinos feel safer, with no risk of fraudulent charge-backs from player credit cards
Fast gameplay conducted through Fate Channels – the team’s custom version of State Channels.
FunFair is preparing for mass adoption and has a working solution for Ethereum network congestion.

The games.

FunFair is pursuing a full suite of traditional casino games:

Blackjack
Baccarat
Craps
Roulette
Slot machines (many variations)
Let It Ride
Caribbean Stud
5-card Poker
3-card Poker
Many more to come

You can test all of these games, right now at https://showcase.funfair.io . Some are currently testable on the Ethereum test networks.
Regarding mobile functionality: A number of mobile dapp browsers are being built (ciphestatus) – FunFair support these. Their games are built with technology that works in mobile browsers.
FunFair is one of the only projects in the cryptocurrency space that has a working product.

FunFair’s vision for the future- an updated roadmap for 2018:

FunFair’s writeup of the updated roadmap can be found here: https://funfair.io/updated-funfair-roadmap-explained/
The roadmap can be found here: https://funfair.io/latest/roadmap/

Q1: In January, the team submitted to the UK Gambling Commission their application for a Remote Gambling Software License.
February 6th-8th,

Official launch into the gaming industry at the ICE (International Casino Exhibition).

Read FunFair’s written re-cap here: https://funfair.io/ice-2018-round/

Watch FunFair’s video round up here: https://www.youtube.com/watch?v=zEjC3_5Q5jA

March 8th-10th,

EthCC Conference.

FunFair CEO Jez San gives a presentation on FunFair platform and protocol to Ethereum community in Paris.

Watch the video here: https://www.youtube.com/watch?v=irpu2iHDiK0

Q2 Goals:

Live Beta on main network.

Announce and start integration of first 3rd party games developer.

Further license applications.

If Beta proves successful, look to go live with first operator.

Continue to attract & retain blockchain talent.

Continue to build FunFair brand.

April 2018

V1 product enhancements and initial stage of Go-Live readiness.

Announce 3rd party game development partner.

Further production quality games released.

May 2018

V1 completes and closed Beta launches

May 15th - 17th,

G2E Asia - launch FunFair brand to Asian gaming market

Website: https://www.g2easia.com/

May 16th - 17th
Consensus and Token Summit in New York

Networking and updating community

Website: http://tokensummit.com/

May 23rd - 24th
Disruptive Online Gambling conference (London)

Exposure to UK gambling industry

Website: http://www.arena-international.com/gambling/

Q3 Goals:

Continue roll out of early operators

Learn, iterate and improve partner integration process

Drive further product improvements & platform features

Q4 and beyond:

Go live with first 3rd party games content

Continue to build FunFair brand

Some Information Regarding Casino Operators:

Casino operators will save significant money on hardware, chargebacks, and operational headcount. The number of physical servers required is reduced as gameplay executes in immutable smart contracts deployed to the ethereum network.
An operator will, at all times, require a reserve of FUN tokens to ensure they are able to accept bets, and cover their liabilities. If, after a period of time, they wish to convert some of their FUN token balance they will have a number of market exchanges which are capable of facilitating this type of transaction.
FunFair is working on the many customization options right now and up until release. You will definitely be able to customize the look and feel. You can add your own graphics, logos, colour schemes, etc. You will also be able to choose which kinds of games are offered, and how they will be laid out.
FunFair fully supports KYC. They’ve built their own KYC technology that’s crypto-friendly. FunFair’s tech will allow each operator to have their own policies on who they exclude and whether they require KYC/AML etc.
A reminder, FunFair isn’t an operator, it’s a technology that operators use, and some will be in countries where they need to do KYC/AML and some will be in countries where they don’t. FunFair’s tech works for all cases and will support the full strength KYC if that operator requires it.
Lots of information can also be found on the website. Here are some excellent links:

Regarding casino operators: https://funfair.io/use-cases/casinos/
Regarding players: https://funfair.io/use-cases/players/
Regarding game developers: https://funfair.io/use-cases/developers/
Regarding affiliates: https://funfair.io/use-cases/affiliates/

The Past, Present, and Future of FunFair..

FunFair has been consistently networking, and the team have been continually attending blockchain conferences and events. From launching their product to the gaming industry at the International Casino Exhibition in early February, launching their product to the Asian market at G2E Asia, and just recently announcing their industry first game development partner; Spike Games, FunFair is advancing very well, on track and ready for industry disruption.
For questions that you may have think I've missed, please refer to this updated FAQ on the FunFair website: https://funfair.io/frequently-asked-questions/#the-fun-token
TL;DR - Read^{the^{whole^thing}}

I'm building a peer-to-peer poker game in Javascript that uses Bitcoin

Stars Rewards AMA Today, July 7th. 12PM EDT, 5PM BST, 6PM CEST. Happening On Discord, link In Comments.

Click HERE to submit your questions in the #ama_questions channel. All non-questions will be deleted in order to keep the channel clean for the AMA, along with anything abusive, so please keep it polite but feel free to ask anything you want, as long as it's Stars Rewards related.
I'll update this post with the full AMA once it has concluded.
For anyone who misses the AMA, still feel free to submit your questions as the Stars Rewards team will hang out in Discord and keep answering questions throughout the next week.
Edit: Clarification
Full AMA:
July 7, 2017 Pete Simm | Ice3lade - Yesterday at 5:02 PM Hello @everyone and welcome to today's AMA! We've received a lot of questions and feedback regarding the new Stars Rewards program and we wanted to take the time to address as many of them as possible. So, on that note, it is my pleasure to introduce @Dylan | Ravageur . Dylan is the Head of Customer Loyalty at PokerStars and has overseen the transition and launch of the new Stars Rewards program. He has been with PokerStars for over 6 years and is here to answer your questions today :smiley:
Dylan | Ravageur - Yesterday at 5:04 PM Hi Pete, thanks for having me on here. Looking forward to diving in to the questions and will do my best to provide some answers.
Pete Simm | Ice3lade - Yesterday at 5:06 PM Welcome welcome :smiley: I know you've been crazy busy putting this whole thing together, so let's jump straight in with some of the harder ones so that we can address them while our brains are still fresh... "PokerStars hate winning players and is doing everything to destroy online poker and turn it into casino? Do you really think your customers don’t understand what you’re doing? Shame on you"
Dylan | Ravageur - Yesterday at 5:11 PM Oof, jumping right into the deep end I see. Well here we go...
We designed Stars Rewards to offer better rewards to net-depositing players than winning players as these players ultimately drive the poker economy. We want to encourage players to win at the table using their skill rather than playing primarily to maximise returns. One of the main differences between this program and the VIP Club system is that it ensures that volume is not a decisive factor like it was in the past to receive meaningful rewards.
It's not that we don't love winning poker players - we do. However, there's a difference between appreciating and celebrating winning poker players versus giving them additional rakeback on their winnings. A lot has changed over the course of eleven years since the VIP Club was first designed, and the online poker landscape is a different place now that needs a new program that better serves our diverse customer base. Since we implemented the changes in 2016 to reduce rewards for the highest-volume players, more hands are seeing the flop which indicates a more appealing table-dynamic and deposits are lasting longer for new and casual players. We no longer believe that the previous approach which allocated the majority of the rewards to winning high-volume players is the right direction for us.
I appreciate that this is not what many of you want to hear, and the significance of these changes is not lost on us. Our goal is to grow poker as a whole and a new and better designed rewards program is an important step towards achieving this.
Pete Simm | Ice3lade - Yesterday at 5:13 PM So, in simple terms, the goal is to keep net-depositing players playing the game, adding more money to the economy?
Dylan | Ravageur - Yesterday at 5:14 PM Put very simply, yes. The goal is to engage and retain new and casual depositing players, who are ultimately the backbone of the poker economy.
Pete Simm | Ice3lade - Yesterday at 5:16 PM Ok, thanks for the clarity there :smiley: We'll move swiftly on to another tough one... "Will PokerStars pocket the rakeback decrease or will it just be more distributed to losing players?"
Dylan | Ravageur - Yesterday at 5:20 PM I am already sensing a trend....
The overall percentage will decrease for poker. Casino and sportsbook will of course see an increase as they're giving more rewards where they previously hadn't. Loyalty remains our most significant spend as a company and we will continue to invest in the development and engagement of our players. We invest in poker far more than anybody else and we play to continue to invest in our innovations and our marketing. We announced this week that we are picking up the tab for 60,000 PKR customers left in the cold without their bankrolls, we've hired Usain Bolt and Kevin Hart to reach out beyond the current poker base to bring new people to the game, and with the launch of PokerStars PowerUp, a new poker product, we are again trying to bring in new players to the game and reactivate players.
This kind of stability & resilience comes at a price, but we believe these changes are working. The company and the ecosystem is healthier, and we believe recreational players are having more fun.
Pete Simm | Ice3lade - Yesterday at 5:23 PM Well then, that leads perfectly on to "I see people justifying the changes by saying it goes to recs yet I haven’t seen stats that they say the same amount of rakeback is being paid out?" asked by @Gosha(edited)
Dylan | Ravageur - Yesterday at 5:28 PM Because the program is personalised to each player, I don't think I'll be able to satisfy that question. I can share that most of our recreational players will receive a similar level of rewards as before, and in many cases players will receive more rewards.
I've heard a lot of players in the questions thread claiming that the program only offers 5% in rewards, but recreational players will receive much more than that and this is across the full spectrum of our player base. As an example, there are former Supernova VIPs who are now receiving more with Stars Rewards than they did in our previous program.
Pete Simm | Ice3lade - Yesterday at 5:30 PM Ah, that somewhat addresses my next question already "Can we get a tangible figure for RB now that the new rewards are in place? Party does 40%"
Dylan | Ravageur - Yesterday at 5:34 PM Yes I think it does. The short answer is that Stars Rewards is not a traditional rakeback program. Rewards are personalised and can vary based on recent activity.
We cannot guarantee a specific level of rewards for any given player givena few factors:
-The rewards inside Chests are randomised -Progress bar requirements are personalised and may change based on recent activity. For example, a long-term winning player will need to earn more reward points to unlock a given Chest than a net-depositing player -Players receive additional reward points in Chests which are also randomised -Players who play more frequently will benefit from boosts, which net you double reward points when boosted.
Pete Simm | Ice3lade - Yesterday at 5:38 PM Given the untraditional nature of the Rewards program, people are finding it hard to find ways to compare it to the old one, maybe you can help with this? "Hey, greetings! My question as i have not yet understood ( and dont think it has been specified at all), is what is the ev of rakeback that the company is giving back? I understand that rewards are randomized and for 1 chest people can get different rewards depending on their vip status. But what i dont understand is how ev rakeback should a goldstar or a silverstar for instance expect to get on 1 month? with the previous system , to say , we knew a goldstar could get minimum 100 usd per month and platinum star 300. what is the difference ev wise in the new system? Thanks"
Dylan | Ravageur - Yesterday at 5:39 PM That's a good question. First - Stars Rewards is a significant departure from the previous VIP Club program and it's very difficult to compare the two as it's apples and oranges. In general terms if you are a long-term winning player you will be receiving less rewards than previously. Other players will be receiving a similar level of rewards, or more, with Stars Rewards.
Pete Simm | Ice3lade - Yesterday at 5:46 PM Since we're changing things quite drastically for the winning players, maybe you can help explain where we received our positive feedback? "I would really like to know where the positive feedback has been found regarding Stars Rewards. Since I havent heard a single positive word from people I rate highly that have gotten their rakeback slashed from 27-35% to 4-5%" This question was asked both by @BarreMolenaar "LordBarre II" and @TilTinDuCeR
Dylan | Ravageur - Yesterday at 5:49 PM I had a feeling this one was coming :). A lot of what is posted about the program on forums and in the press originates mostly from winning players, who understandably are upset that they are receiving fewer rewards than previously. The program is designed to appeal more to recreational players. The level of engagement we have seen with the program so far in Denmark and Italy has exceeded our expectations. We have been reaching out since those launches to speak to recreational players about their experiences with Stars Rewards and the majority prefer the new program than the previous one.
Pete Simm | Ice3lade - Yesterday at 5:51 PM Speaking of the launches in Italy and Denmark, we received this question about how the launches there seemed "sketchy at best"... "Why did you switch from a transparent system to a non-transparent, “individual” one? I personally believe that the poker industry especially needs to be as transparent as possible. The way this has been rolled out in Italy and Denmark so far seems sketchy at best."
Dylan | Ravageur - Yesterday at 5:54 PM I agree that the poker industry needs to be as transparent as possible. However, while Stars Rewards is "individual" as he says, the probabilities and prize values for each Chest are published on our website and you can see how many points you need to unlock a Chest by clicking on your progress bar or visiting the 'My Stars' portal. In addition to the 'normal' Chest values on our webpage, there will be additional top prizes on a regular basis such as the $1,000 Chests we are currently awarding for launch.
Pete Simm | Ice3lade - Yesterday at 5:56 PM A recent question from @Croakspkr which ties in well with transparency... "why cant i review how many chests i've opened yet and what i got from them?"
Dylan | Ravageur - Yesterday at 5:58 PM You can contact Support at any time to receive a full audit of your Chests and everything that was in them. However, I agree that it would be beneficial if you could review them in-client, so I will add this to the list of future developments we'd like to add. Thanks for the feedback/suggestion @Croakspkr
Pete Simm | Ice3lade - Yesterday at 6:01 PM And this one has come in from @Artello referencing a previous question... ""As an example, there are former Supernova VIPs who are now receiving more with Stars Rewards than they did in our previous program." It doesn't sound logical at all with rewards we have, unless some regs hit 1k from chests (which is luck, not a statistic)."
Dylan | Ravageur - Yesterday at 6:03 PM Just to clarify, long-term winning Supernova VIPs will be receiving much less. However, there are net-depositing former Supernovas who are receiving a similar level of rewards, and in some cases more. That isn't assuming they get lucky or win a $1K Chest.
Pete Simm | Ice3lade - Yesterday at 6:05 PM In terms of the rewards in general, there has been a lot of feedback regarding how different the size and frequency of the rewards are compared to what people are used to. That feedback has been accurately summed up by @IFlipBurgers in this question: "Do you believe that rewarding people with extremely small rewards (compared to the buyin of the games they play) at a high frequency gives them satisfaction and make them feel like a valued customer? So far, I've only heard feedback of people feeling insulted by these rewards and would go as far as to argue that they have a negative net effect on their playing experience, even compared to not receiving anything at all."
Dylan | Ravageur - Yesterday at 6:09 PM Unlike the previous program, Stars Rewards aims to reward players multiple times within a single session. Most of our players can only play a few times a month and we feel that offering them multiple opportunities to win something significant does, in fact, make them feel valued. Of course, there's no "one-size fits all" and some players would rather receive fewer Chests but that held a higher value, so there is a balance to be maintained. Like any other new product, we will be reviewing feedback from all our players and looking at the numbers to determine if we've found the right balance between frequency and value.
Pete Simm | Ice3lade - Yesterday at 6:11 PM That leads perfectly into "Are rewards completely finalised or are they very much experimental and subject to change?"
Dylan | Ravageur - Yesterday at 6:13 PM The rewards could change over time, yes, especially in regards to our top prizes. Currently we're awarding $1K Chests as the top prize, but, for example, when WCOOP comes around later this year Stars Rewards can award WCOOP tickets in Chests. In the future, these top prizes will change and can range from cash prizes, tickets, and exclusive physical items. FailFish1
Pete Simm | Ice3lade - Yesterday at 6:15 PM Okay! :smiley: Thank you very much for digging into some of the nitty gritty about EV and reward amounts with me, now I'm going to address some of the questions we've received about how everything functions We received this question "hey, im fairly sure i was on like 80% towards 2k vpp and didnt receive anything for it. isnt it supposed to convert? is this a problem more people ran into or just me" from @don artie , perhaps you could clarify?
Dylan | Ravageur - Yesterday at 6:17 PM Good question, and that shouldn't be the case. Players received the full prorated StarsCoin value for their in-progress VIP Step when Stars Rewards launched. You can verify having received this credit by going to your StarsCoin audit in Tools -> History & Stats of the desktop client. You can also just shoot our Support an email and they can check on your behalf and makes sure that you received everything you should have.
Pete Simm | Ice3lade - Yesterday at 6:20 PM Thank you for clearing that up :smiley: Now, in terms of the exact functionality, @Scoobydubious asked: "When you open your chests, what are the coins for that go to the right side of the chest? I think theymight be purple if I recall correctly."(edited)
Dylan | Ravageur - Yesterday at 6:22 PM Purple?!! They are green, and those are reward points :smiley: You get reward points everytime you open a Chest, so that your progress towards your next one gets kick-started. In poker you earn 100 reward points for every $1 in rake/tournament fees paid with the exception of high-stakes cash games.
Pete Simm | Ice3lade - Yesterday at 6:23 PM On that note, from @Caribou "What is the least amount of points necessary to clear a red chest? How many points, on average, will net depositors need to clear a red chest?"
Dylan | Ravageur- Yesterday at 6:28 PM That's a good one. Reward point requriements can vary over time, but for example, some higher-volume recreational players need to earn 8,000 reward points to unlock our biggest Platinum Chest. They will also receive on average 800 points every time they open it. Some of these also receive a boost of 4,000 points every 8 hours from their last one. Effectively, they need to earn 3,200 reward points to earn their first Platinum Chest each day (which is worth about $23.50 on average).
Pete Simm | Ice3lade - Yesterday at 6:33 PM So in terms of this being more weighted for net-depositing recreational players @SetMiningWithKings asked "So that I can make a decision whether this is a better thing for players, or for Pokerstars - Has your average revenue per player gone up or down when you account for the new programme being in place?"
Dylan | Ravageur - Yesterday at 6:35 PM We certainly hope to increase engagement in our playerbase which ultimately should increase revenues, but it's much too early to say what the impact of Stars Rewards is given we only just launched in most areas this week!
Pete Simm | Ice3lade - Yesterday at 6:38 PM In that case, asked by @TilTinDuCeR "Question: Do you think you as a company understand the gaming industry enough to try to emulate it and accurately project the success of such endeavour?"
Dylan | Ravageur - Yesterday at 6:42 PM There has been a massive amount of effort and research across the company in preparing for Stars Rewards based on years of data and experience in the industry. We're confident that this is a step in the right direction, and early indications in Denmark and Italy support this as well. So I guess in short, yes. But we are of course also listening to our players on all our channels (here, other forums, social media, customer support, 1-1 discussions, etc.)
Pete Simm | Ice3lade - Yesterday at 6:46 PM Speaking of feedback from the players, we're seeing a lot of people asking for a more specific breakdown of what they need to do to earn their chests. "is there anywhere we can check the least and the most points requiered for a certain chest?" from @monroymx
Dylan | Ravageur - Yesterday at 6:48 PM Each individual can always click on the progress bar to see how many reward points they need to unlock a Chest. However, because these targets can vary over time based on recent activity, they aren't being published.
Pete Simm | Ice3lade - Yesterday at 6:50 PM Ok, good to know that it's easy for people to see what they need to do then :smiley: Let's burn through another couple of quick ones and then wrap this thing up so I don't leep you all night. "Will players be able to weed out the rewards that they will never use?"
Dylan | Ravageur - Yesterday at 6:53 PM If I remember correctly that question was referencing not wanting to recievemore than one freeroll ticket in a day. This is a great suggestion and something that we are actively looking to add to Stars Rewards functionality. Ideally once you receive, for example, a freeroll ticket for a weekly freeroll, you shouldn't receive the same ticket until the following week (and that prize would be replaced by something that isn't redundant). It's on our list of future developments that we'd like to add, and I hope we can add it in the coming months.
Pete Simm | Ice3lade - Yesterday at 6:55 PM So, to quickly summarise a question that is being asked a lot, are there any plans to decrease rake? Spin and Go's and PLO seem to be mentioned a lot here "With such reduction in rewards to SN Winning players, is there a chance that (for example) Spin and go rake might be decreased a bit to compensate, because as of it is today, average 60$ limit player regular was earning around 44% of his overall profits from rakebacks, because there are a lot of regulars in the pool, only a handful of crushers get better results (in chipEV) than that to stay comfortable withouth rakeback" Dylan | Ravageur - Yesterday at 6:57 PM That's a popular question. We are constantly evaluating pricing and the economy of each game. However, at this time there are no plans to decrease rake.
Pete Simm | Ice3lade - Yesterday at 6:57 PM That being the case... "Wouldn’t they be making more money if they brought back the old vip system which incentivized volume players coming back = more rake being paid?"
Dylan | Ravageur - Yesterday at 7:02 PM This is a good question as there are quite a lot of misconceptions out there on this topic. There is a very high overlap between "volume players" and "winning players". This is pretty intuitive given poker is a skill game and you improve the more you play. The poker economy is fuelled by deposits, which for the most part originate from low to medium-volume players. This is one of the main reason that the level of rewards players receive through Stars Rewards is not solely based on volume, so that we can allocate rewards to the players who contribute the most to the poker economy (and of course, our company).
Pete Simm | Ice3lade - Yesterday at 7:05 PM Thank you for explaining that :smiley: Ok, I hope that this session has helped to clear things up for a few people, @Dylan | Ravageur thank you very much for taking the time out of your day to do this with us. I know that we haven't managed to address everything which we've been asked, but Dylan will be around throughout the coming week to hop in here and answer more FAQ as they arise. If there are an absolute tonne of questions, we will schedule a second AMA for some time next week :smiley:
Dylan | Ravageur - Yesterday at 7:08 PM Sure - thanks for having me Pete and I appreciate all the questions and feedback from the players. I know that not everyone will love the answers, but I'll continue to chime in here next weeek to try and answer questions as they come up. Sure - I'd be down to do this again. Cheers.
Pete Simm | Ice3lade - Yesterday at 7:09 PM Awesome, thank you again for joining us!

Help with first build. PC will be used for online poker

FUN token. $! MOST EXCITING PROJECT RN.

[uncensored-r/CryptoCurrency] FunFair - An in-depth analysis.

The following post by Commissar_ is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7o2gtl
The original post's content was as follows:

FunFair. An in-depth analysis.
Intro.
FunFair is a decentralised gaming technology platform which uses the Ethereum blockchain, smart contracts, and proprietary state channels to deliver casino solutions with games that are fun, fast and fair.
FunFair is not a casino. Instead, FunFair will license its technology out to casino operators. This differentiates FunFair from the competition in the blockchain gambling sphere – being a casino carries with it risks and burdens stemming from statutory and regulatory hurdles. Being a licensing entity instead, provides legal safeguards and will enable a more widely used platform.
I’d like to touch on the many aspects of FunFair that makes it an extremely promising and undervalued project. However, I won’t be making any price projections. As always, do your own research. In this case, I’ve done a lot of it for you.
The market.
Online gambling is a large market: currently over 47.1 billion dollars, and projected to continue increasing. https://www.statista.com/statistics/270728/market-volume-of-online-gaming-worldwide/. However, this is not to say that the price of the FUN token should be compared to the market cap of internet gambling. FUN is not a measure of casino capital/wealth, it's an entirely new animal.
The problem and the solution.
Trust. Traditional online casinos rely on you trusting them to be fair. The chance of red coming up on roulette is 48.65%. How do you know your traditional online casino is giving you those odds? You don’t – you need to trust them. Most online casinos are incorporated in island microstates. Do those nations have online casino regulators? Do they possess the willingness, manpower, and expertise to audit online casinos?
FunFair puts the gambling on the blockchain so it’s trustless – you know you have a 48.65% chance of having red come up. It’s fair.
The team.
FunFair has their ground covered and bases loaded. With their team of 30+ professionals they are way ahead of the competition. You may know CEO Jez San, OBE, from his career track: Argonaut Games (founder), Star Fox (programmer), and PKR Poker (founder). He has been in the gaming industry for more than two decades, and has built valuable relationships along the way. Constantly engaging with the FunFair community through Telegram, Discord, and Reddit, it seems as though he leaves no engaging question unanswered. Alongside Jez as COO is David Greyling (https://www.linkedin.com/in/davidgreyling/), former International Director of William Hill, one of the world’s leading betting and gaming companies and one of the most trusted brands in the industry. (https://www.williamhillplc.com/about/). Recently, Stefan Kovach joined the team - Stef is an industry executive with a wealth of experience, having headed up the marketing functions of both PokerStars and bwin.party – two of the biggest brands in online gambling.
Further, FunFair is looking to expand – and fast. They expect to have a team of 50+ people in the not-so-distant future, as they are currently hiring business and marketing professionals. So, if you’re looking for an opportunity to showcase your expertise in these fields, try your shot at securing a position within the company! (https://www.funfair.io/careers) The FunFair team’s base of operations is in London, UK.
The platform.
FunFair presents its casino operators and players with a gaming opportunity never seen before:

Decentralized, serverless

Provably fair, blockchain-based

Trust-less outcomes that can be witnessed on verifiable smart contracts

Instant cashouts – FunFair does not hold your funds

Accessible through web browser on desktop or mobile

Fun games with an exciting user interface

Casinos feel safer, with no risk of fraudulent charge-backs from player credit cards.

Fast gameplay conducted through Fate Channels – the team’s custom version of State Channels. The Fate Channels developed by the FunFair team are superior technology. In very basic terms, Fate Channels are what supports the communication during a game session between the player and the casino. They provide a fast, low cost method for random number generation, starting gaming sessions, ending them and settling with smart contracts on the blockchain. This allows for secure, deterministic, fair gameplay. There is only one gas fee needed to start the game session. For an in-depth explanation that you won’t be disappointed in reading, please refer the the technical white paper here: https://funfair.io/wp-content/uploads/FunFair-Technical-White-Paper.pdf FunFair is preparing for mass adoption and has a working solution for Ethereum network congestion. Fate Channels.

For more discussion both technical and company related, have a look at both whitepapers: https://funfair.io/explore/whitepapers/
The games.
FunFair is pursuing a full suite of traditional casino games:

Blackjack

Baccarat

Craps

Roulette

Slot machines (various types)

Let It Ride

Caribbean Stud

5-card Poker

3-card Poker

And more to come

You can test all of these games right now at https://showcase.funfair.io/. Some are currently testable on the Ethereum testnet.
FunFair is one of the only projects in the cryptocurrency space that has a working product. They are set to launch in the beginning of Q2 of 2018.
What have they been up to? Are they on track?
Consistently ahead of schedule and on top of their roadmap in many ways, FunFair was a sponsor of DevCon 3 and had one of the most engaged-with booth setups. They connected and networked positively with many developers at the event. https://twitter.com/FunFairTech/status/926113230677856256
They’ve recently received the Malta iGaming award for “Best ICO of 2017” which was determined by a nomination panel of 5 industry experts, and a panel of 32 judges with many years of combined experience in gaming. The awards were hosted during Malta Gaming Week; a very large event attended by many business executives, authorities, and even local government: http://maltagamingweek.com/
They’ve been constantly updating their product showcase, and adhere to all feedback received by community members. Their new showcase was designed to “be able to cope with adding more games easily by the team + third parties, and also to be configurable by casino operators.” Some of their product update can be found here: https://funfair.io/awards-latest-product-update/
How does the token (FUN) derive value?
FunFair does not issue dividends or offer profit sharing – FunFair doesn't have much to share. The technology will be licensed to casino operators for almost nothing – itself a major draw for existing casino operators to adopt the FunFair platform. With a fixed supply, the value in FUN is derived from scarcity of the token in the marketplace. Scarcity comes from four sources:

Casinos holding FUN as part of their bankroll (described more below);

Players holding FUN and not cashing it out immediately after they play;

Speculators (investors) holding FUN anticipating it will increase in value;

Token burn: a small amount of FUN will be slowly destroyed over time. The exact amount has not been announced, though it will likely be quite small.

That first scarcity factor will be key, as casinos will need extremely large bankrolls of FUN to operate a large casino with multiple games, high max bets, and a large number of seats (allowing numerous people to play concurrently).
Right now, price has been set purely by speculators. As casinos open down the road, scarcity will ramp up --- Casinos will need to buy FUN, which will lead to players buying FUN which will lead to greater popularity of the platform causing more speculators/investors to buy FUN. Scarcity and utility are what drives price.
Plans for the future & the latest company update.
FunFair will be attending the ICE Totally Gaming Conference on February 6-8 (https://www.icetotallygaming.com/exhibitors/funfair-casino). This is a major business-to-business conference for the online gambling industry. The team plans to have the developmental side of the FunFair project done in time for the conference.
Tech completion in February will allow for the advancement in operations and partnerships, which will lead to live FunFair-licensed casinos going live in Q2 2018.
FunFair is in the process of acquiring their Remote Gambling Software License from the UK, which will enable them to license their technology to existing and regulated casino operators.
FunFair has steady operational costs covered for the entire year, as well as an 85,000 ETH reserve/storage for any and all upcoming costs.
An Updated Roadmap (December 20th, 2017)
(available here: https://funfair.io/company-update-december-2017/)

Q1:
In January we will be submitting to the UK Gambling Commission our application for a Remote Gambling Software License.
In February we will be attending ICE Gaming, an international B2B conferencing event, where we will be introducing the FunFair brand to the gaming industry.
By the end of March V1 of the FunFair blockchain casino nears completion. This release will allow for real FUN to be used on the Main Ethereum Network for the first time.
Q2:
Operator On-Boarding: Deploying the FunFair casin...

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