Gaming director shows how 'sweepstakes' apps use dual-token systems that can function like casinos
Wyoming Gaming Commission director demonstrated how apps sell social 'gold' coins and bundle redeemable 'sweeps' coins that can be cashed out after operator minimums, arguing that when tokens are redeemable for cash the apps amount to illegal gambling under current law.
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Nick Leremendi, Executive Director of the Wyoming Gaming Commission, opened the Select Committee’s discussion with a short video and narration showing how many sweepstakes or social-casino apps use a dual-currency system: purchasable “gold coins” for entertainment and bundled “sweeps coins” that operators allow users to redeem for cash after reaching a threshold. Leremendi told the committee, “When you start playing the sweeps coins and that’s redeemable for cash, you are risking something of value.”
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