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About Ark Of Mystery
This risk is particularly apparent when many offshore operators are established brands rather than unknown entities.
“It’s not a dark alley,” he continues. “It’s a large operator that’s regulated in other places, so it’s not the risk for the player that sometimes is implied.”
With the central challenge of tax to compete with, operators face a test of whether they can maintain growth while remaining competitive in an increasingly fierce market.
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“We expect non-sports categories such as economics, politics, crypto, and entertainment to gain share over time,” says the analyst.
Prediction market operators are on legal losing streaks, confirming that Beynon is onto something when he says the regulatory environment is the biggest risk facing the industry.
“We continue to view regulation as the largest risk to prediction markets,” says the analyst. “While industry growth remains robust, adverse legal outcomes could materially impact sports contract availability and long-term adoption.”
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However, further tests found that while using a VPN, Spectrum could not access Evolution’s games in the sanctioned markets of Iran, Sudan and Syria, despite claims to the contrary made by Black Cube in its prior report.
“When we attempted to play games in those locales using VPNs, we were repeatedly denied access,” Spectrum states. It therefore said it found the allegations linked to these countries were “unsupportable and lacking credibility and proper foundation”.
Spectrum found that BitCasino.com and Stake.com were knowingly offering its games in these banned markets, which were specifically prohibited within their contracts with the supplier.