Willemstad, Curaçao, Netherlands, October 17th,
2024, Chainwire
New data from Cloudbet, a leading
crypto casino and sportsbook, reveals that the emergence of newer,
faster cryptocurrencies like Solana, Polygon, and Tron, are not as
popular as mainstream coins for online gambling. The platform data
suggests that gamblers prefer established cryptocurrencies such as
Tether (USDT), Bitcoin (BTC), and Ethereum
(ETH).
Year-to-date data shows that USDT accounted for 47.3 percent of
the platform’s total turnover, across more than 35
cryptocurrencies. Bitcoin claimed a 28.9 percent share followed by
Ethereum at 11.5 percent.
Altcoins with speedier transaction times, like Solana (SOL),
Litecoin (LTC), Ripple (XRP), and Tron (TRX), are growing in usage
but are still lagging behind.
A company spokesperson highlighted, “After looking over
the data, it was one of those moments where you’re just like,
‘Crypto gamblers. They’re just like us.’ The same concerns about
volatility or price fluctuations bond every crypto holder, whether
you bet or not.”
In June 2024, Cloudbet released an
innovative new rewards program, awarding users in USDT without
rollover restrictions. This month, the company released a second
iteration of Cloudbet Rewards which now awards users in the
cryptocurrency of their choice. For the majority of users, this
will still be USDT, but it gives Cloudbet users the financial
flexibility to play with more coins.
"We’re interested to see how users will take advantage
of the versatility of the rewards program,” says a Cloudbet
spokesperson. “While the first iteration has clearly been a hit
with our users and has accelerated the shift toward this next
quarter, we might find that users start betting with PONKE or other
memecoins as a way to lean into alternative crypto projects,
especially if they’re bullish on their potential.”
Since its founding in 2013 as the first licensed Bitcoin casino,
Cloudbet has had a
front-row seat to the evolution of crypto gambling preferences.
"After nearly a decade in the space, we've seen the market mature,"
the spokesperson shares. "Stability is the watchword now for the
lion's share of crypto gamblers."
“Volatility is a key metric, not just for crypto
trading but for crypto gambling. Increased liquidity, more robust
blockchain security, among other strategies, can effectively manage
and reduce a coin’s volatility. Gamblers using volatile coins can
feel like placing a bet, only to see your winnings diminish with a
price drop,” adds the Cloudbet spokesperson.
About Cloudbet
Cloudbet is a proud
pioneer of crypto betting.
Since its launch in 2013, as the world’s first crypto-friendly
sportsbook and casino, Cloudbet has served hundreds of thousands of
users and taken millions of bets, establishing a reputation as the
most trusted, secure, and VIP-friendly brand in crypto
gaming.
Cloudbet users can bet with 35+ cryptocurrencies, from Bitcoin,
Ethereum, and stablecoins like USDC and USDT, to SOL and other
popular altcoins. The site is available in 18 languages (including
Spanish, German, Italian, French and Japanese).
For media inquiries, odds, and insights, users can contact
irene@media.cloudbet.com or check out media.cloudbet.com.
Contact
Irene
Halcyon Super
Holdings
B.V.
irene@media.cloudbet.com