On Air One to Three Christy Dehaven | 1:00pm - 3:00pm

Island described as "gambling Mecca"

Website's view after ICO event

The Isle of Man has been described as a "gambling mecca" by an online Bitcoin website.

In an article about Initial Coin Offerings of ICOs, the Use the Bitcoin or UCB website describes how Luckbox is looking to create a licensed betting platform for punters to wage on various eSports tournaments.

The company is aiming to provide a one-stop shop, offering betting, viewing, and chat options all on a single platform.

Initial Coin Offerings (ICOs) are a new method of funding start-ups, similar to initial public offerings, only they're currently largely unregulated.

Investors just need the cryptocurrency that the ICO is accepting.

Luckbox ran an ICO event between February 23rd and 1st March, hosted from the Island, which according to the UTB website was one of the reasons they were keen on it.

More from Isle of Man Business