USD Coin has been added to the portfolio of coins available to customers by Cloudbet, the pioneering crypto sportsbook and casino, marking the operator’s second major stablecoin integration since launching USD Tether in May.
A welcome bonus worth up to 1000 USDC is available for new players who deposit USDC with Cloudbet. Using their credit cards or Apple Pay, customers can buy a coin on the web.
Cloudbet currently supports the largest coins in the stable coin universe, with a total market cap of US$ 18 billion, through the merger of USDC and USDT. Stablecoins have been implemented for crypto gaming as a workaround for players looking to secure the value of their cryptocurrency winnings from the intense price swings faced by non-stablecoin holders.
As with USDT, since the value of USDC is set with the US dollar on a 1-to-1 basis, the fiat value of the coin’s winnings does not fluctuate along with market values for cryptocurrencies. Stablecoins have been provided as the key to convincing a more fiat-friendly audience to discover the advantages of gaming with cryptocurrencies for this purpose.
A Cloudbet spokesperson said: “Since launch, a fundamental part of our philosophy has been about empowering players with technologies that solve their problems. Stablecoins are an extension of that.”
On the Ethereum network, Cloudbet supports USDC. The Centre Consortium, an organisation co-founded by Coinbase and Circle, launched the coin in part to establish a structure for governance and a network for the widespread acceptance of fiat-backed stable coins.
For players looking for the best odds and highest limits for crypto betting from the comfort of their homes or on the go, the latest coin amplifies what’s on offer at Cloudbet. The operator has introduced a swathe of bold new features to target a more diverse audience, including esports, political betting, and quick transactions of credit card coins, after it re-launched its website in April.
Cloudbet was founded in 2013 and is one of the longest-established Bitcoin betting operators in the world. Ethereum and bitcoin cash are now approved by the platform, with more coins expected for release this year, said the spokesman.
In June, with an aggressive English Premier League campaign, the operator caught the attention of industry analysts, under which its sportsbook paid no margin on pre-match bets for all games left in the season. This allowed consumers to have access to the fairest rates on the market, and thus the highest returns.
The campaign was an expansion of the long-standing “best chances” promotions on sports such as soccer, basketball and tennis by Cloudbet.