Give us a history of Cloudbet
Cloudbet took its first leap into Bitcoin sports betting in October 2013. 0.12 BTC (worth just $24 at that time) was placed on Korea’s K-League (soccer) – it won. There have been over 10million wagers in our sportsbook since, including plenty more winners.
When Cloudbet launched it was the first major site that enabled users to bet with bitcoin on sports. We added live casino to the site a few months later, as it became clear that our users wanted other ways to play. (Our first bet was on Blackjack and the lucky player won, by the way.)
The next big step for us was offering as wide a choice of live markets as possible – something that set Cloudbet aside from other crypto operators. This began at the 2014 World Cup in Brazil and has grown every year since.
The world of cryptocurrency gambling is almost unrecognisable from when we first announced the site to the bitcoin community. We introduced Bitcoin Cash as the first altcoin to our site in April 2018, but it was the integration of Ethereum in 2019 that really supercharged Cloudbet’s ability to deliver new coins to its customers and put the company on track for a milestone year in 2020. Since April, Cloudbet has introduced USD Tether, USD Coin, Pax Gold and three new coins in quick succession. The site now supports nine currencies that collectively account for about 80% of the total market capitalisation of all cryptocurrencies.
The coin additions coincided with Cloudbet launching a revamped website and a swathe of new features including esports, politics betting, virtual sports, social-media bet sharing, and easy credit-card coin purchases. The upgrades are part of a bold push to attract a more diverse audience, a move that has included localising the site into more than 17 languages and unveiling an Argentina-focused service towards the end of 2020.
The new features add to those that have made Cloudbet a trusted leader in the world of crypto gaming: the best sports odds, the highest betting limits, a state-of-the-art bitcoin casino and world-class 24/7 live chat customer support.
Which cryptocurrencies can users play with, and are you looking to add more?
As well as betting with Bitcoin, Cloudbet offers a further eight coins – ETH, BCH, USDT, USDC, PAX, PAXG, DAI and LINK. The main determinant as to which coins we introduce is what our customers request. As far as future coins are concerned, there are no specifics at this point. It comes down to the largest market cap ones. Simply put, we want to give our customers what they tell us they want.
Do you have any interesting bonuses for players at the moment?
Some of the most popular offers with our players at the moment include “Zero Margin Bets” – offering the best odds in the world on selected events. It’s an innovation that got a lot of media attention when we launched it last summer to celebrate the return of the EPL. There’s also “Spread the Joy” – whereby players can their money back on Zero Margin spreads bets on NBA games; plus “NFL Money Back Mondays”. And of course, the Cloudbet welcome bonus, of up to 5BTC. All bonuses can be found on our promo page.
Which games at Cloudbet are most popular with users?
It’s brand new and still growing, but we are really pleased with the uptake for the Crypto Arcade that we launched a couple of weeks ago. As for the most popular sports, soccer, tennis, basketball – and currently NFL, especially as the playoffs heat up on the road to February’s Super Bowl. For casino, live-dealer tables and slots are the most favoured.
How do cryptocurrency gamblers differ from traditional fiat currency gamblers? Why should players opt for crypto?
When we first started talking about the virtues of bitcoin betting, the benefits were always as obvious as they were palpable: Ease of payment from anywhere in the world to anywhere in the world – both instantly and at extremely low cost. Of course, with very few barriers, you solve a lot of payment obstacles, not to mention a suite of logistical issues for all those active in this domain. That remains true to this day.
Early adopters of crypto betting were likely to have been members of the cryptocurrency community, animated by and aligned with its philosophy. As time has gone on, and cryptocurrency has moved more into the mainstream, this pattern is less pronounced. And the game-changer for attracting a less evangelical crypto customer has been the introduction of stablecoins.
Stablecoins eliminate the challenge of dealing with Bitcoin’s price volatility. Because they’re dollar-denominated, or euro-denominated, the stablecoin is backed by a currency held in a bank account in the legacy traditional banking system. As a recreational customer, wherever you are in the world, you can transact with all the benefits of bitcoin without taking on the price volatility. Stablecoins present a really good way to secure peace of mind.
You’ve just launched in Argentina – why did you target this territory and what’re your plans for LatAm as a whole?
Many Latin American countries have payment challenges – Can you use credit cards online? How do you use betting sites online?
It’s very slow, it’s very difficult and in some cases, simply not possible. Cryptocurrency solves that, so there’s a great opportunity across the continent. Cloudbet decided to test the waters in Argentina as there’s a significant cryptocurrency community there, coupled with a sport-loving population.
Which sports and tournaments are driving your players’ engagement over the winter months?
NBA and NFL are generating a lot of interest currently. Soccer is a perennial favourite.
More generally, what is on the roadmap for Cloudbet for 2021?
Broadly speaking, 2021 is going to be about developments and improvements so that Cloudbet customers won’t feel they need to go anywhere else to bet. For casino, we’re working on a huge expansion and improvement in the casino product in the way that we reward customers. And for sports betting, we’re developing technologies that allow us to take the largest sports bets that anyone in the world has ever taken. That’s especially relevant for the VIP customer. If you bet any substantial amount of money on sports, then we’re going to show that you should do it with Cloudbet. Larger bets, better prices, niche markets… whatever you want you’re going to be able to have it on Cloudbet.
Go ahead and try Cloudbet now!