Stakes Are High for Star-Backed Bitcoin Gambling Site As Crowdsale Stumbles

An attempt to launch one of the first major regulated bitcoin-powered gaming platforms is struggling to alter this narrative, despite backing from a slew of international gambling stars.

Breakout Gaming, announced on 16th September, boasts former World Series of Poker champions Johnny Chan and Huck Seed as marketing partners and will be powered by its own decentralized cryptocurrency, breakout coin.

Breakout Gaming said it views its ICO and its gaming platform as complementary services and that, should the ICO fail to reach its goal in another planned fundraising round, private sources could be tapped to bring the project to fruition.

"The difference is that we're building a gaming property whose sole purpose is to support the value of the coin. What will make the coin successful is if the gaming is successful, and what makes the gaming successful is the fact that we have a blend of excellent products and very, very good experienced personnel."

The platform will accept breakout coin, bitcoin and fiat currencies for breakout chips - the individual tokens that enable gaming on its platform.

Breakout Gaming intends to use 7m BRO to incentivize new players to its games, which will include real-money and free poker and casino gaming, fantasy sports leagues for major US sports and fantasy games for electronic sports like League of Legends and Defense of the Ancients.

In statements provided to CoinDesk, Breakout Gaming illustrated that the poker stars it has recruited for the project all have a familiarity with bitcoin and digital currency, as well as an interest in their first project in the space.

The gaming pros reported that they all are sponsored gamers for the platform, though a few are considering direct investment.

Describing the altcoin as his firm's "Competitive edge", Perroni said breakout coin and its pre-sale were ways to ensure the gaming platform had a loyal and incentivized user base.

Perroni voiced Breakout Gaming's intent to pursue licensing in Kahnawake, Canada, which he said would allow it to position its gaming properties differently in its target markets, though he said this process hasn't been completed.