Efforts to Ban College Prop Bets Gain Momentum Across the U.S. while CoinPoker Unveils $1 Million Tournament

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The landscape of sports betting in the United States has witnessed a surge in the popularity of prop bets, which allow gamblers to place bets on specific elements of a game, such as individual player performances, rather than the final outcome. These types of wagers, while popular, have garnered significant notoriety due to numerous instances where college athletes have been subjected to online harassment and threats from disgruntled bettors unhappy with their performances.

Given these negative impacts, the push for a nationwide ban on prop bets, particularly for college sports, has intensified. Charlie Baker, the president of the NCAA, last month reaffirmed the organization’s commitment to eliminating these bets across the nation. The NCAA’s stance has received varying levels of support across states, with some like Ohio and Maryland already enacting bans on prop bets for college sports. However, many other states are still in the process of considering adjustments to their existing betting regulations.

One significant supporter of this initiative is New York, home to the country’s largest betting market. The state has set a precedent with strict regulations against prop bets on college sports events. Recently, Brian O’Dwyer, chairman of the New York State Gaming Commission, penned a letter to the NCAA’s president, discussing New York’s policies and their alignment with the proposed national ban.

In his letter, O’Dwyer expressed strong support for the NCAA’s efforts to prohibit prop bets on college sports. He highlighted the proactive steps taken in New York to enforce stringent rules that prevent such bets, aimed at insulating student-athletes from potential harassment linked to their game performance. O’Dwyer praised the rigorous regulations in New York, affirming that they serve as a model for other states contemplating similar restrictions.

New York State appreciates your efforts to help implement this important protective measure nationwide.

Furthering the discourse, O’Dwyer emphasized the importance of nationwide adoption of these measures, stating, “New York State appreciates your efforts to help implement this important protective measure nationwide.” He expressed satisfaction in seeing other states follow New York’s example in exploring options to adopt similar protective regulations.

The drive to expand the ban on college prop bets was further bolstered earlier this month when New Jersey Senator Kristin Corrado submitted a proposal aiming to ban college prop bets in her state. This move added New Jersey to the growing list of states actively seeking to prohibit these popular but controversial player-specific proposition bets.

As regulatory discussions continue, the New York State Gaming Commission remains committed to supporting the prohibition of college prop bets. This stance is seen as crucial in ensuring the welfare and integrity of student-athletes across the country. O’Dwyer’s remarks encapsulate a growing consensus that the nationwide ban on college prop bets is a necessary step to protect young athletes from undue pressure and harassment.

The Dark Side of New York Regulations

New York is known for strict regulations but it is also sometimes criticized for a slow and bureaucratic process in all matters, and in particular in the areas of legal gambling. Recently we reported that Las Vegas Sands Corp expressed frustration regarding the protracted licensing process in New York. The company’s CEO, Dumont, talked about the lack of clarity and the disappointment stemming from extensive investments of time and resources in the region, especially given the pending zoning amendments needed for casino developments within New York City’s five boroughs.

CoinPoker Unveils $1 Million Guaranteed Tournament Series, Boosting Prospects for CHP Token

In other exciting news, CoinPoker, a leading name in crypto gaming, has announced the launch of a grand $1,000,000 guaranteed tournament series. This move is aimed at energizing its native CHP token and has been heralded as potentially the most significant crypto poker event of the year.

💎 CSOP Spring starts in 4 days! 😎

🗓 April 19th to 28th. 10 days, 41 events.

🤑 Record-breaking total prizes of $1,000,000 along with $10,000 in added value!

💵 Buy-ins from $20 to $5,000. GTDs from $1,000 to $200,000!

🎲 We've got #NLHE, #PLO, and #PLO5. This is not… pic.twitter.com/bsDwDLTxpU

— CoinPoker (@CoinPoker_OFF) April 15, 2024

The series, known as the Crypto Series of Online Poker (CSOP), is set to run from April 19th to April 28th. Over these ten days, participants will compete in 41 dynamic events, beginning with freeroll events that start today.

CSOP Spring offers participants a chance to vie for up to $1,000,000 in total prizes, with an added $10,000 value benefit enhancing the attractiveness of the event. The series kicks off with engaging $20 CSOP Opener and $50 MonsterStack events, and will also include exhilarating PKO (Progressive Knockout) days, featuring significant guaranteed prize pools.

As the series progresses, special PLO (Pot-Limit Omaha) events will lead up to the signature high-stakes tournaments, culminating in a high-octane Grand Finale where the high roller action will be brought to life.

Adding to the competitive spirit, the new CSOP Leaderboard will offer additional incentives, with up to $10,000 in extra prizes available. Participants entering with a $500 buy-in can earn points through active participation, finishing in the money, and achieving top-round placements, climbing the public leaderboard. The top 20 performers on the leaderboard will not only gain substantial rewards but also the opportunity to secure a passport to the Summer Showdown series in July.

From a financial perspective, the CHP token is currently trading at $0.059, showing a modest 24-hour increase of +0.10%. The upcoming CSOP Spring has injected momentum into the token’s price action, which is now experiencing bullish sentiment. This is supported by a strong buy pressure, with 91% of transactions in the past day being purchases, potentially setting the stage for further price increases.

With a market cap of $16.24 million, the potential for the CHP token to achieve significant gains in the coming months is increasingly plausible, especially as the CSOP event continues to draw attention.

Tony Guoga, founder of CoinPoker, known as Tony G, brings a wealth of experience to the platform. A veteran of the World Series of Poker and a notable figure in both the poker and political arenas in Lithuania, Guoga’s influence is evident. His extensive experience has been pivotal in shaping CoinPoker into a popular, decentralized crypto casino without country restrictions, recommended by top poker review sites like Rakeback.com.

CoinPoker’s platform, which offers complete anonymity and instant withdrawals, along with benefits like 33% rakeback and welcome bonuses of up to $1,100 USD, stands out in the crypto poker space. As such, joining the CSOP this month is not just an opportunity to participate in a significant poker event, but also to become part of a legacy in the innovative world of GambleFi.

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