Cryptocurrency
Trading Blows: Cloudbet’s expert take on the new NBA season
As the NBA prepares to go back to work, the trading team at Cloudbet, the leading crypto sportsbook and casino, assesses the latest market movers and shakers
The wait is almost over: The NBA is ready to go again, just two months after Lebron James and the Los Angeles Lakers trounced the Miami Heat in last season’s finals. The victory put an emphatic exclamation mark on the Covid-19 iteration of America’s premier basketball competition, which played out its final months in the league’s Disney World bubble in Florida.
Since then, there have been a flurry of draft and free-agency dealings, along with a few superstars returning to injury, which promise yet another humdinger of a season – all with the spectre of Covid looming in the background.
Cloudbet takes this opportunity to preview the action, with the first games tipping off on December 22. Buckle up, folks!
The West – A Lakers dynasty in the making
Champs get stronger
If last season made just one thing clear, it’s that the Lakers are back for good – and ominously, they’ve had probably the best off-season in the league, making all the right moves to improve in all positions over last year.
First of all, they re-signed Anthony Davis to a five-year, $190 million contract, a move that confirms that nothing less than a repeat this year is acceptable.
Trading Dennis Schroder from the Oklahoma City Thunder, while adding depth to the Center position through free agents Marc Gasol and reigning sixth man Montrezl Harrell has stacked the roster even further. Wesley Matthews taking Danny Green’s spot is the last piece of the puzzle.
They remain the team to beat in 2021 and are deservedly the No.1 title favourites. Cloudbet is offering odds of 2.88/+188 on the Lakers lifting the title and 1.85/-177 to take the Western Conference.
Clippers to contend
The Lakers’ cross-town rivals are looking to reboot their fortunes after their huge summer letdown, giving up a 3-1 series lead in the Western semifinals against the Denver Nuggets.
The Clips have a new head coach in Tyronn Lue and the team has locked in Paul George until 2025 with a contract extension. Meanwhile, the gap at center created by Harrell’s departure has been filled with Serge Ibaka – who has now been reunited with Kawhi Leonard: The two both shared a championship title with the Toronto Raptors in 2019.
The Clips will be looking for Ibaka’s defensive game to better contain players like Anthony Davis and the Nugget’s Nikola Jokic more effectively, especially in the post-season.
The Clips are currently at 8.18/+718 to take the title and you can get odds of 2.12/+112 that they end the regular season with a greater than 67% win percentage.
A nod to the Nuggets
While the hunt for the six remaining Western Conference playoff spots includes several teams in the mix-up, one looks to stand out from that group.
The Denver Nuggets seem to be a few steps (or years) away from going all the way, with a great young core by way of Nikola Jokic, Jamal Murray and Michael Porter Jr. Under the guidance of Head Coach Mike Malone, the Nuggets have built on strong foundations and will be a force to be reckoned for the foreseeable future. Denver is 20.9/+1996 to win it all this season.
The East – up for grabs
In the Eastern Conference, things look a bit more fluid.
The Milwaukee Bucks seem to have found a way of killing it during the regular season – and played some great basketball before the March shutdown – but still lack the knack of transforming these home-court advantages into deeper postseason quests for glory.
Giannis Antetokounmpo joined the elite company of only Michael Jordan and Hakeem Olajuwon by winning both MVP (his second in a row) and Defensive Player of the Year in the same season last year. The Greek Freak looks hungry as ever to make the leap into the finals.
The most notable move made by the front office saw Jrue Holiday join from the New Orleans Pelicans in the off-season, while the waiting game around Giannis is over – on Wednesday he signed the full five-year, $228 million supermax contract. He’s committed to Milwaukee now for a long time.
Milwaukee’s title odds are currently 6.36/+536.
It was the Miami Heat (23.0/+2201 for the title) that knocked Milwaukee out in the bubble. The Bucks had no answer for the Heat’s physical and tactical approach, led by alpha dogs Jimmy Butler and Bam Adebayo. Butler’s unquestionable fighter mentality and work ethic is paired by a unique two-way talent. Bam was dominant in the paint while young sharpshooters Tyler Herro and Duncan Robinson set the tone for a balanced offence that sets the bar high for 2021.
This season’s Brooklyn Nets (7.55/+655 for the crown) are perhaps the most intriguing entity in the East. The return of Kevin Durant (10.5/+959 for regular season MVP) and Kyrie Irving (92.9/+9192 for the same) at full strength automatically flips the switch on the Nets to contender status, while Spencer Dinwiddie and Caris LeVert should again play integral roles having had their best professional seasons in 2020.
The arrival of Steve Nash as head coach was the story of the off-season. The hiring of the former Suns two-time MVP has been met with some skepticism though, mainly due to his lack of experience in the position. No doubt both fans and pundits will be watching closely.
The Covid elephant in the room
We can’t end any major competition preview without a generous nod of the head to the bogeyman du jour. The NBA’s solution to covid last season – the Disney World bubble – was an enormous undertaking and an undeniable success. Building on that experience, the league now has strict protocols and a slightly rejigged playing schedule in place this season.
Perhaps the biggest change for players, aside from the relative isolation, will be road-trip restrictions and playing matches back-to-back while visiting. It’ll be interesting to see how teams (and betting odds) respond to sudden line-up and venue adjustments if Covid rears its ugly head.
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SOFTSWISS, a tech company and pioneer in crypto gaming with over 15 years of experience, conducted a survey revealing that the majority view crypto as a key driver for growth in new markets. Experts also analysed this year’s crypto bets to share the latest insights.
Bitcoin recently reached a historic high, getting closer to 90,000 euro per coin. However, during the third quarter of 2024, it faced its sharpest drop in several years. SOFTSWISS experts examine how these market shifts have influenced iGaming performance in the quarterly ‘State of Crypto’ analytics.
A Quarter of the World’s Population Engages in iGaming
Global iGaming statistics indicate that approximately 26% of the world’s population were ever engaged in iGaming. By 2028, the iGaming market is projected to reach 243.2 million users, with a market volume nearing 130 billion euro, a substantial portion of which is expected to involve cryptocurrency.
SOFTSWISS data shows that during the 9 months of 2024, the Total Bet Sum, including both fiat and crypto, increased by 43.1% compared to the same period of 2023. Simultaneously, the Total Bet Count showed even more impressive growth, surpassing 44.5%.
An in-depth comparison analysis since 2022 demonstrates fiat bets are rising much more rapidly than crypto. A comparison between the first nine months of 2024 and the same period of the previous year revealed that the Fiat Bet Sum achieved a 50.4% boost. The conservative approach toward payment methods has resulted in Crypto Bet Sum growing at a slower pace compared to fiat and has led to a modest 4-percentage-points (p.p.) decline in the crypto share in 2024.
[1] Based on data from ongoing projects[
Potential of Crypto in iGaming 2025
According to the SOFTSWISS iGaming Trends 2025 Report, cryptocurrency is set to remain one of the preferred payment methods within the sector. Based on the company’s survey, 58% of respondents identified crypto as the primary driver of growth in new markets, underscoring its essential role in shaping the industry’s future.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, reflects on the possibilities of crypto: “Integrating crypto payments allows iGaming businesses to operate globally, delivering greater speed and convenience. With iGaming’s naturally borderless reach, this expands platforms’ access to a wider international audience, boosting their global growth potential.”
“What is more, crypto transaction fees can be almost three times lower compared to traditional fiat gateways, allowing iGaming businesses to save on processing costs and reinvest that capital”, adds Max Krupyshev, CEO of CryptoProcessing by CoinsPaid.
SOFTSWISS data confirms stable interest in crypto. In the first nine months of 2024, the Crypto Bet Sum increased by 15.2% compared to the same period the previous year. A long-term quarter-by-quarter analysis reveals a consistent growth pattern, though the third quarter of 2024 saw a 9 p.p. decline from the previous quarter. The drop aligns with the decline in the exchange rates of major cryptocurrencies, including Bitcoin, Litecoin, and Ethereum, which occurred in the third quarter.
Meanwhile, the Crypto Bet Count rose by 16.2% in Q3 2024, indicating stable interest in crypto gaming. This combination reveals that while engagement in crypto betting remains steady, the total wagered sum is closely correlated to fluctuations in cryptocurrency exchange rates.
Altcoins Share Growth
The top five most popular cryptos in iGaming have remained stable over the years, with some shifts in the ranking order. Bitcoin, Ethereum, Litecoin, Tether, and Dogecoin are the most popular among crypto players. While altcoins accounted for only 25.1% of bets over the first nine months of last year, their share increased significantly to over 47% during the same period in 2024.
Bitcoin’s share dropped by 22 p.p. during the nine months of 2024 compared to the same period of 2023. At the same time, Tether and Litecoin saw the most impressive share growth, with over 8 p.p. and 7.8 p.p., respectively. Ethereum strengthened by 4.9 p.p.
Another impactful trend reveals some casinos, like Rollbit and Shuffle, utilise their own iGaming tokens to boost player engagement. Tokens designed specifically for gaming offer enhanced compatibility across platforms, lower volatility, and exclusive perks for users. Crypto drives the development of new payment methods and business growth.
Vitali Matsukevich summarises: “Crypto offers iGaming operators key advantages beyond lower costs and global reach. Blockchain enhances safety and fairness through transparency and traceability, with each transaction and game result permanently recorded and tamper-proof. Partnering with trusted crypto experts allows operators to harness these benefits, positioning themselves for growth and effectively navigating market shifts.”
The new SOFTSWISS iGaming Trends 2025 Report offers more insights about crypto in the ever-evolving iGaming sector. The visionary report is free to download via the link.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka affiliate platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Survey Q3’24: 58% Cite Crypto as Key Driver in New Markets appeared first on European Gaming Industry News.
As the European crypto community prepares for the implementation of the MiCA, Kyrrex is organizing an online X panel to discuss the potential impact and future trajectory of the industry under this new regulatory framework.
The panel “Is MiCA that Bad? The Future of Crypto in Europe,” will take place on November 14, 2024, at 12:00 CET on X Spaces.
This event aims to offer an in-depth examination of the challenges and opportunities that MiCA presents, drawing on the expertise of industry leaders and stakeholders.
Key speakers for the discussion include Mike Romanenko and Kevin Plumpton from Kyrrex,
Tomer Warschauer Nuni from Kima Network, Andrea Zapparoli Manzoni from H4ckManac, Thanos Tsavlis from Cyberscope, and Anoop Nannra from Trugard Labs. Their insights will help attendees understand how MiCA may reshape the crypto landscape and what this means for different segments of the market.
“As MiCA ushers in a new regulatory era for the crypto industry, open discussions are crucial for navigating this transition effectively. By bringing together voices from various sectors, we aim to foster a deeper understanding and proactive approach to the opportunities and challenges ahead,” said Mike Romanenko, CVO & co-founder of Kyrrex. “Engaging in conversations like these helps ensure that the community is informed and prepared for the future of crypto in Europe.”
The panel will be structured to encourage interaction and participation, allowing attendees to submit questions and engage in a discussion with the panel. Topics are expected to include compliance, innovation, and strategies for navigating the evolving regulatory environment.
This event offers professionals, enthusiasts, and stakeholders an opportunity to gain a clearer perspective on what lies ahead as MiCA begins to take effect. It will also provide a space for dialogue and knowledge-sharing, fostering a greater understanding of the potential impacts on the crypto sector in Europe.
Panel “Is MiCA that Bad? The Future of Crypto in Europe” details:
- Date: November 14, 2024
- Time: 12:00 CET
- Platform: X Spaces
The post Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe appeared first on European Gaming Industry News.
Cryptocurrency
United States Online Gambling Industry Research 2023-2029: Cryptocurrency Gains Momentum, Rising Popularity of Esports, Operators Capitalize on Mobile-First Platforms
The “United States Online Gambling Market, By Region, Competition, Forecast and Opportunities 2019-2029F” report has been added to ResearchAndMarkets.com’s offering.
The United States Online Gambling Market was valued at USD 9.5 billion in 2023, and is expected to reach USD 15.99 billion by 2029, rising at a CAGR of 8.90%
The United States online gambling market has experienced significant growth in recent years, driven by a combination of factors. One key driver is the increasing legalization of online gambling across various states. As more states recognize the potential economic benefits and tax revenues associated with online gambling, they are passing legislation to allow for its operation. This has created a favorable regulatory environment, enabling online gambling operators to enter the market and offer their services to a wider audience.
Technological advancements have also played a crucial role in the market’s growth. The widespread availability of high-speed internet and the proliferation of smartphones have made online gambling more accessible than ever before. Consumers can now conveniently access a wide range of gambling options from the comfort of their own homes or on the go, leading to increased participation and engagement.
Furthermore, the growing consumer demand for online gambling has fueled market expansion. The convenience, variety of games, and potential for significant winnings have attracted a large and diverse customer base. Additionally, the COVID-19 pandemic has further accelerated the shift towards online gambling as traditional brick-and-mortar casinos faced temporary closures and restrictions. Overall, the United States online gambling market is poised for continued growth as more states legalize and regulate the industry, technology continues to advance, and consumer demand remains strong.
Expansion of Mobile Gambling
One of the prominent trends in the United States online gambling market is the expansion of mobile gambling. With the widespread adoption of smartphones and the increasing availability of high-speed internet, more consumers are turning to mobile devices for their gambling activities. Mobile gambling offers convenience and flexibility, allowing players to access their favorite games anytime and anywhere.
Operators are capitalizing on this trend by developing mobile-responsive websites and dedicated mobile applications. These platforms provide a seamless and optimized gambling experience, with user-friendly interfaces and a wide range of games tailored for mobile play. The convenience of mobile gambling has attracted a new segment of players who prefer the flexibility of betting on the go.
Emergence of Live Dealer Games
Another significant trend in the United States online gambling market is the emergence of live dealer games. Live dealer games bridge the gap between online gambling and the traditional casino experience by offering real-time interaction with professional dealers through high-definition video streaming.
Players can participate in games such as blackjack, roulette, and baccarat, enjoying the social aspect and immersive atmosphere of a land-based casino from the comfort of their homes. The popularity of live dealer games can be attributed to the desire for a more authentic and interactive gambling experience. Players can chat with the dealers and other participants, creating a sense of community and enhancing the overall entertainment value. The advancements in technology, such as improved video streaming capabilities and enhanced user interfaces, have contributed to the growth of this trend.
Integration of Cryptocurrency
The integration of cryptocurrency as a payment method in the United States online gambling market is gaining traction. Cryptocurrencies such as Bitcoin and Ethereum offer advantages such as enhanced security, faster transactions, and reduced fees compared to traditional payment methods. This has led to an increasing number of online gambling operators accepting cryptocurrencies as a form of payment. The use of cryptocurrency in online gambling appeals to a tech-savvy audience that values privacy and decentralization.
It also enables players from jurisdictions with strict gambling regulations to bypass restrictions and participate in online gambling activities. As the adoption of cryptocurrencies continues to grow, it is expected to have a significant impact on the online gambling market, providing players with more options and operators with increased flexibility in payment processing.
Integration of Esports Betting
Esports betting is gaining momentum in the United States online gambling market, driven by the growing popularity of competitive video gaming. Esports refers to organized multiplayer video game competitions, where professional players compete for prizes. The integration of esports betting allows players to wager on the outcomes of these competitions, adding an additional layer of excitement and engagement.
Esports betting appeals to a younger demographic that is passionate about gaming and follows esports events closely. The availability of live streaming platforms and dedicated esports betting websites has made it easier for players to participate in this form of gambling. Operators are expanding their offerings to include a wide range of esports titles, tournaments, and betting options to cater to the growing demand.
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