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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Jackbit, the fast-growing crypto gaming destination, has officially completed its transition to Jack.com, unveiling a new brand identity and simultaneously launching Volume 2.0 — a comprehensive platform overhaul designed to power its next stage of international growth.
The rebrand comes after years of building a loyal user base on the back of lightning-fast crypto withdrawals, transparent operations, and a player-first philosophy. Securing the Jack.com domain signals the company’s commitment to becoming a major global player in the crypto gaming space.
“Jack.com represents the beginning of a much larger global expansion strategy. We will continue introducing new features, community tools, and strategic partnerships as the ecosystem evolves,” the company said.
Volume 2.0 brings sweeping changes to the platform. Wallet 2.0, a rebuilt payment infrastructure, now features cleaner transaction tracking, improved deposit and withdrawal flows, and expanded visibility across all payment activity. Navigation has been redesigned for speed, and security enhancements have been applied across the board.
The social fabric of the platform has also been strengthened. New community features including a Live Bets Feed, Recent Big Wins display, and High Rollers leaderboard allow players to engage with live platform activity. A new Tips Function enables peer-to-peer tipping directly within the platform — a first-of-its-kind feature in the crypto gaming sector.
On the loyalty side, Jack.com has launched a fully redesigned VIP program offering Instant Rakeback, Weekly and Monthly Bonuses, Level-Up Rewards, and dedicated VIP managers for top-tier members.
Jack.com offers thousands of casino games, live dealer experiences, original titles, esports betting, sportsbook markets, and tournaments — all accessible with seamless crypto payment options.
Existing Jackbit users will experience no disruption to their accounts during the transition. Jack.com operates under a Curaçao gaming license and was founded in 2022.
The post Jackbit Rebrands as Jack.com, Launches Volume 2.0 Platform Upgrade appeared first on Americas iGaming & Sports Betting News.
About 83% of U.S. bettors are keen to use cryptocurrency to fund wagers with online sportsbooks, when permitted, according to research issued by leading payments platform Paysafe. The company’s All the Ways Players Pay: Crypto Edition report also suggests that when a state permits crypto payments, sportsbooks supporting deposits by digital assets and even payouts will gain a competitive edge in player acquisition and retention.
As well as bettors in states where crypto deposits aren’t yet permitted – Florida, New Jersey, New York, Ohio, and Pennsylvania – Paysafe surveyed Illinois and Virginia, which have the regulatory latitude to give operators specific permission for crypto-to-cash funding products. Importantly, the study included the two states which explicitly permit crypto deposits, Colorado and Wyoming, where 59% and 45% of bettors, respectively, have already funded a bet with a digital asset.
With 64% of active U.S. bettors owning cryptocurrency, deposits using digital assets would almost certainly trend even higher in other states when permitted. In New York, 92% of players have appetite for crypto deposits, with demand in Illinois and Florida almost as high (88% in both).
When permitted, crypto would be a top-3 payment method for funding wagers, with 45% of players listing crypto as a preference after digital wallets (favored by 55%) and debit cards (50%). In New York, crypto would be second only to wallets (54% versus 59%), with a similar dynamic evident in Illinois, where 52% list crypto as a preference compared to 58% digital wallets.
Despite crypto’s potential to rival wallets and bank cards, other payment methods would remain relevant. Even if digital assets were permitted, credit cards (a preference for 37%) and pay-by-bank solutions and bank transfers (also 37%) would still be relatively popular. And even niche payment options would not be completely overshadowed if crypto were thrown into the transactional mix, with almost a quarter of bettors (23%) still listing local payment methods like peer-to-peer apps and 14% eCash solutions like PaysafeCash.
Players also have interest in cashing-out their winnings in crypto, which is not yet permitted by any state. Well over eight out of 10 bettors (85%) are keen for crypto withdrawals.
Given bettor appetite for cashing-out and crypto funding, it’s unsurprising that digital assets would play an influential role in their selection of a new sportsbook. While brand trust dominates sportsbook choice (prioritized by 36%), crypto payment factors are almost as important, including seamless crypto withdrawals (prioritized by 29%), ability to transact with crypto or other preferred payment methods (28%), and seamless crypto deposits (26%).
Crypto payments’ value extends to player retention. Seven out of 10 players (71%) feel that transacting using digital assets would improve their overall betting experience, with just 18% disagreeing and the remaining 11% unsure.
While crypto will invariably enhance customer stickiness, operators need to carefully evaluate crypto payment products as a poor transactional experience will risk churn, with 71% likely to abandon a sportsbook as a result. Players in some states are even less forgiving, especially New York (80% would switch brands), but also Florida and Illinois (75% in both).
Zak Cutler, President of Global Gaming at Paysafe, said: “While crypto payments are only currently permitted in a relatively modest cohort of U.S. states, our latest research indicates that there’s strong player appetite for crypto at the cashier in not just these jurisdictions but across the broader market. As regulation evolves and as more iGaming markets embrace digital assets’ impressive value at the cashier, we’re confident that crypto will not just become an important payment method, but arguably pivotal to the industry’s transactional future.”
The post Paysafe Research: Crypto Payments to Transform US Online Sports-betting appeared first on Americas iGaming & Sports Betting News.
The UK Gambling Commission has begun scoping out how it will allow crypto gambling to exist within its regulatory framework, but there are concerns that embrace of cryptocurrencies by one of the world’s largest online gambling markets might make very little impact.
The UK’s gambling regulator announced in February that it was seriously considering allowing its licence-holding operator to allow gambling with crypto.
The move is driven in part by a project at the Financial Conduct Authority (FCA) to beef up rules around exchanges and other virtual asset providers.
This bedrock, the commission believes, will give it a solid foundation to open up the world of gambling, while addressing concerns around potential money laundering and value fluctuations.
Speaking in London earlier this week, the commission’s enforcement director, John Pierce, confirmed that he is leading a team within the regulator that is scoping out the project.
He said that formal regulations are unlikely to emerge until 2027, but speaking at the annual CMS Conference on Tuesday (May 12), he was clear that “we are moving increasingly towards crypto”.
Pierce added that he is keen to hear from members of the gambling industry on how they would like to see crypto regulations structured, primarily through the regulator’s Industry Forum, but admitted that the staff currently at the regulator lack skills in this area.
This skill gap is an area the Gambling Commission will need to close if it is to create a workable framework for crypto gambling, with some key players in the industry apparently unimpressed with the regulator’s efforts so far, sources say.
Pressure builds
While the regulator is being careful not to fully confirm that it will develop a model for crypto gambling, there’s good reason to believe it will push forward with the project.
This is due to several factors, including the growing threat of the black market. The commissions’ own research into what motives consumers to look offshore found a desire to gamble with their crypto holdings is a key motivator.
There’s also growing pressure from the international anti-money laundering (AML) establishment to do more than simply prohibit the use of cryptocurrencies.
Current advice from the watchdog the Financial Action Task Force (FATF) is that nations should look to bring crypto within their regulatory framework so as to better protect against its potential misuse for fraud and terrorism funding.
This position has influenced the FCA’s move to develop more complete crypto regulations and in turn has spurred the Gambling Commission to make its own moves.
The suggested date of 2027 for new regulations is no coincidence. FATF will commence its next mutual evaluation of the UK that year and will expect officials to show how they are limiting the flow of crypto from British shores to potentially illicit offshore operators.
Will it work?
There are real concerns that very few crypto casino players would actually be interested in wagering in the regulated market.
“In the UK, the demand is relatively small,” said Maria Rodriguez, the head of payment strategy for operating giant Flutter.
“It’s a very niche service, but it’s consumer that we don’t have access to at the moment,” she added, also speaking at this week’s CMS event.
One of the key questions is what kinds of crypto will be permitted in the UK market.
Pierce hinted that his team is leaning towards only allowing stablecoins, which rules out a large potential consumer segment who own currencies like Bitcoin and Ethereum.
This is primarily due to concerns around volatility. Stablecoins are pegged to supposedly stable currencies or commodities, like the US dollar, and are less susceptible to sudden market movements.
Pierce and Rodriguez both pointed to potential issues where coins with rapidly fluctuating values, such as bitcoin, drop massively while they are being held by operators as a customer deposit.
There are also other potential issues around financial services. Operators need banking partners in order to do business and they will likely resist any drift towards uncertainty.
So, while that makes a stablecoin-only regime the safe option, it’s a choice that risks alienating much of the current black market gambling which the commission is explicitly hoping to tempt onshore.
“You think about the segment that is the pure native crypto customers, even if we get to the point that we offer it, are there really going to come?” wondered Rogriguez. “I still have a question mark of whether we are going to attract those customers or not.”
The post UK Heading For Crypto Gambling, But Will Consumers Care? appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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