The ConsenSys-backed betting platform is the first officially licensed blockchain-based poker game of its kind in the U.S., looking to revive online gambling communities that have been dormant since the 2006 Unlawful Internet Gaming Enforcement Act.
The platform’s “Play-to-Earn” title comes from promotions that allow amateur players to play in real-money tables with house chips. If players win enough hands, they are entitled to be paid out a percentage of their winnings.
The model, which incentivizes amateur players to join the platform, is designed to attract professional gamblers to the site, who historically make the most money on platforms with large pools of non-pros.
A representative of Virtue Gaming told CoinDesk the company plans on using its marketing budget to fund the promotions, focusing more on building its community than advertising the site.
“Virtue Gaming’s innovative patent-pending play-to-earn model allows us to create a global poker network for the first time in over a decade,” Virtue Poker CEO Ryan Gittleson said in a press release. “This new gaming model can now be used to disrupt the industry, allowing U.S. players to play the game they know and love against players from all over the world.”
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