The CryptoGamblingNews.com team rounds up another month of crypto sports betting and casino.
Bitcoiners for Trump?
At time of writing, the outcome of the US presidential election appears to be swinging towards Joe Biden – a result which will be welcomed by bitcoin sportsbooks.
Crypto gamblers skewed heavily for Trump during the campaign, and likely by a heavier margin than their fiat gaming equivalents. One bitcoin-led sportsbook, Cloudbet, reported that 80 percent of its presidential wagers had been on Trump.
Despite the Donald once tweeting that he was “not a fan of bitcoin”, it is no surprise bitcoiners have fond memories of his first term: On his 2017 inauguration day, one bitcoin could be purchased for $900; on the day of this year’s election, the cryptocurrency was trading at more than $14,000.
Volatile start for Atari
Arcade and video game pioneers Atari made a surprise move into the crypto gambling space via an announcement earlier this year. But the launch of its dedicated ATRI token, which went live earlier this month, has not been entirely smooth sailing.
Trading volatility saw the token immediately lose around 70 percent of its value in the 36 hours after it concluded its token sale.
But there are reasons to be optimistic for the longer term health of the project. Atari already has a crypto casino and crypto sportsbook live, where users can wager their tokens. And with a powerful brand behind it, there is hope ATRI could bring crypto gaming to a new audience.
Bitcoin sportsbook Exbet launches
Our industry has long been promised a new dawn for exchange betting – but it has never quite arrived. Instead, it is probably fair to say the vertical has been in decline for some time now.
But a newly-launched bitcoin betting exchange, exbet.io, is wagering that cryptocurrency could breathe new life into the product.
Bitcoin and crypto users tend to already be familiar with exchange and trading mechanics, and appear to be a better fit for betting exchanges than the mass market. Importantly for a vertical with tight margins, they also tend to have a high player value.
Exbet’s COO David Evans is confident that offering these users a genuine alternative should prove appealing. “Betting exchange users have, for too long, been neglected by a handful of operators more focused on short-term gains than the long-term health of the vertical,” he told CryptoGamblingNews.com.
China uses lottery to debut digital yuan
While the European Central Bank has recently floated the idea of a digital version of the euro, China’s government is a step ahead, with a digital yuan already in testing.
One of its first trials was as part of a pilot lottery in the city of Shenzhen, just across the border from Hong Kong. Almost two million people signed up for the blockchain-based lottery, with around $1.5m worth of the digital yuan up for grabs..
With the Chinese government tending to keep a strict handle upon both cryptocurrencies and online gaming, the lottery hints at a greater willingness to look at ways to potentially legalise and regulate both sectors.