Mario Mosbock partners with CoinPoker to establish the best online poker site, showcasing PoR on the blockchain

Author: Willemstad, Curacao, Date, Chainwire

The online poker site CoinPoker has released a Proof of Reserves (PoR) report showing that user deposits are stored in cold wallets at a 1:1 ratio, visible on the blockchain, while additional reserves are held in hot wallets to facilitate instant withdrawals.

Former Austrian footballer and professional poker player Mario Mosböck has teamed up with British professional player Patrick Leonard to become the new official ambassadors for the site, praising the initiative to enhance transparency for this cryptocurrency-based poker platform.

In a post on X post, Mario Mosböck stated that the duo's 'mission is to guide the new leadership team in creating the best online poker site in the world.'

Users can read CoinPoker's Proof of Reserves report here.

Building a Top Online Poker Site with Cryptocurrency

Founded in 2017, CoinPoker is a relatively new crypto poker room and casino, but it is increasingly being recognized among top online poker sites such as Card Player Magazine, PokerScout, and Techopedia.

Unlike traditional internet poker sites that use fiat currencies, players on CoinPoker bet using Tether (USDT), allowing the site to leverage the advantages of blockchain technology to ensure the security and segregation of user funds.

The 2011 Full Tilt Poker scandal shocked the online poker industry, where user funds were mixed with operational funds, leading to the company's bankruptcy during the industry's "Black Friday."

Many top poker sites are increasingly accepting cryptocurrencies as a deposit method, but CoinPoker is one of the few that is "all in" and accepts cryptocurrencies at the poker tables. Players can deposit USDT, Bitcoin, Ethereum, Solana, Polygon, Binance Coin, or their native token CHP, with holders receiving a 33% rakeback.

To enhance security, CoinPoker also utilizes Fireblocks vault and decentralized RNG (random number generator) software, allowing players to verify randomness after each hand using Ethereum's Keccak-256 algorithm.

CoinPoker Signs Mario Mosböck and Patrick 'Pads' Leonard

28-year-old Mario Mosböck, a former forward for the Austrian football club Wiener Neustädter SC, has recently gained fame in both live and online poker arenas.

He currently has recorded earnings of over $11.7 million in live tournaments, including a first-place finish for $1.1 million at the Jeju Triton Super High Roller Series, and a runner-up finish for $4.6 million at the 2023 WPT Big One for One Drop.

Source - triton-series.com

Mario plays under the username "livinmydream" on CoinPoker and frequently appears in high-stakes games starting at $25/$50 PLO and above.

Patrick Leonard is a former PartyPoker ambassador and currently ranks 38th on the England all-time earnings list in the Hendon Mob poker database. His live tournament earnings exceed $3.1 million, including a WSOP bracelet win, and his online earnings surpass $19.2 million, making this 35-year-old player frequently regarded as one of the best online MTT players in the world.

Patrick is also a highly respected poker coach, helping mid-stakes players improve their game, with some of his students winning EPT, WCOOP, and SCOOP titles.

He sees his goal at CoinPoker as helping "create the safest and best online poker room in the world," and he co-authored the site's Proof of Reserves report.

Proof of Reserves on the Blockchain

CoinPoker stated in its PoR report:

CoinPoker prioritizes the safety and peace of mind of its customers. Our operations are protected by a Curacao eGaming license, ensuring compliance with strict regulatory standards. We demonstrate our financial integrity through Proof of Reserves, holding sufficient funds to cover all user assets. Proof of Reserves refers to the assets we hold on behalf of users when they deposit funds into their accounts.

Here, we confirm that CoinPoker's reserves are sufficient to cover all user assets at a 1:1 ratio, along with some additional reserves. It is important to note that these funds refer only to user funds. The funds held by CoinPoker's company are stored completely separately in wallets and are not included in the calculation of the reserves.

Currently, CoinPoker's total customer deposits amount to approximately $16 million, while the total reserve assets available for withdrawals are slightly below $16.75 million, equivalent to 105% of the total deposits.

The exact amount of player deposits is dynamically updated every few minutes on the coinpoker.com website.

These funds can be viewed on the blockchain through links on etherscan.io, blockchain.com, bscan.com, and other cryptocurrency tracking sites (depending on the token).
For security reasons, most of the funds are stored in cold storage, with a portion kept in hot wallets for instant withdrawals—players can deposit and withdraw funds within minutes using MetaMask wallets or cryptocurrency exchange accounts.

To celebrate the release of the report, CoinPoker also announced an exclusive promotion on the company's Instagram and other social sites, allowing players to enter the upcoming $40,000 GTD Sunday Special Tournament for free.