Cloudbet, a leading crypto betting platform, recently announced that it had added Link, Pax, and Dai to its list of supported coins. The crypto casino has now added 6 different coins throughout 2020 and continues to scale the platform offerings. Players leveraging the new coins will be eligible for a welcome bonus worth up to 100 Link, 1000 Pax, or 1000 Dai. Following the announcement, Cloudbet users can now place bets with 9 different digital assets.
Cloudbet And Crypto Betting
Cloudbet was first launched in 2013. It has since become one of the top Bitcoin betting operators globally. It is renowned for its robust security and fast withdrawals. The platform first added support for Bitcoin Cash in 2018. However, it was not until Cloudbet began supporting Ethereum in 2019 that the platform took off. The addition of ETH paved the way for the fast-tracking of additional cryptocurrencies.
According to a spokesperson for the platform, they were making good on their promise back in April 2020 when they began supporting Tether. He noted that their pledge to “add features and coins that matter to our customers and the crypto community,” was their priority long-term.
Since this undertaking, the platform has added USD Tether, USD Coin, Pax Gold, and three new coins within weeks of each other. In total, nine coins are now supported by the platform. These coins represent around 80% of the total market cap of all crypto coins. The addition of Pax Gold was especially significant since the coin’s value is backed by gold. Back in October of this year, Cloudbet became the first entity to let users bet with tokenized gold.
Revamped Website
The addition of new coins was done along with a revamp of the Cloudbet platform. There are several new features supported on the platform that include placing bets on political events, esports, social media bet sharing, virtual sports, and the ability to easily purchase coins using credit cards. These new features are part of Cloudbet’s effort to attract more users. As part of this effort, the site is now offered in over 17 languages with an Argentina-focused platform launching in November 2020.
The features will help cement Cloudbet’s position as a leading crypto gaming platform. It already offers users the highest betting limits, the best sports odds, a state of the art BTC casino, and 24/7 live chat customer support.
Cloudbet’s Bald Promotion Campaign
In June 2020, Cloudbet launched an ambitious campaign targeted at English Premier League fans. Under the campaign, its sportsbook did not charge any margin for pre-match bets for all games remaining in the season. With this initiative, users were able to take advantage of the “fairest” prices in the market. Cloudbet believes this put their users in a prime spot to capture the highest returns.
The “zero margins” campaign was part of the platform’s “best odd” campaigns on various sports such as tennis, basketball, and soccer.
Future Outlook
The addition of various cryptocurrencies should allow Cloudbet to grow its market share in the foreseeable future. Many “Bitcoin only” casinos have seen tremendous growth, but they also limit their market reach. With many people holding Bitcoin as a “store of value” asset, this could lower the chances of it being a valued way to transact in gambling. Other altcoins may actually be more appealing, especially since many of them arguably have better infrastructure for payments and transactions. By adding support for various digital assets, Cloudbet seems to be pushing ahead of many competitors in the space right now.
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