A company that will allow customers to gamble using cryptocurrency has been granted a licence to operate from the Isle of Man.

E-gaming operator Real Time Games Holdings Limited’s recently-launched brand, Luckbox, is the first cryptocurrency supported e-sports betting platform in the Isle of Man to be granted the Online Gambling Regulation Act (OGRA) licence.

It currently employs three people with another two due to be recruited before Christmas.

Lydia Barbara, who chairs of the Department for Enterprise’s Digital Isle of Man agency, said: ’As an e-sports betting platform that supports payments through cryptocurrencies as well as more conventional methods, Luckbox epitomises a new kind of innovative company which arises from the confluence of emerging technology, changing consumer preferences and traditional business.

’Such innovations thrive in environments with robust and supportive regulatory frameworks, and we are delighted the Luckbox team has chosen the Isle of Man as their licensing jurisdiction.

’I wish Luckbox the best of luck with their future.’

Lars Lien, Luckbox’s chief executive, said: ’We are delighted to be granted the OGRA licence enabling us to operate from the Isle of Man.

’The island has a strong reputation for its top-tier licensing and we are proud to operate Luckbox out of a jurisdiction with such a strong reputation. This licence will help to set us apart as we look to launch our new product next year.’