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After introducing two stablecoins, CloudBet is now adding Betting With Gold with Pax Gold (PAXG) to the platform. The successful inclusion of USD Tether and USD Coin (two stablecoins indexed to the real-world value of the US dollar) has now prompted the arrival of gold, opening up new possibilities in the betting realm.
Stablecoins increase the trust of players, as the currencies are not as vulnerable to price changes as other cryptocurrencies. The case with PAXG is similar. As it is indexed to the market price of gold – an asset known for its stability over time – players know their assets are safe.
Additionally, combining the stability of real-world currency with the advantages of cryptocurrency in the betting world – fast transactions, low fees and industry-leading bonuses – is a welcome set of features favored by bettors around the world.
The introduction of Betting With Gold is a significant step in the development of tokenization. Physical assets, such as gold, can be divided, traded and exchanged in smart contracts through blockchain technology. Each unit of PAXG is a digital asset equivalent to one fine troy ounce of a gold bar. The gold bars are stored and protected by the Paxos Trust Company, without the player ever having to handle or manage physical gold.
As a way to promote this new feature, new players depositing PAXG are getting 5 units of the gold coin (a $10k USD value), as well as 100 free spins over two weeks in a special, gold-themed slot in the CloudBet casino.
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But the innovation didn’t stop there. After a successful relaunch in April, one of the best Bitcoin casinos for US players has also implemented esports betting and betting on political outcomes, along with easy credit-card coin transactions and the three stablecoins we mentioned above.
A pioneer in the crypto betting industry, CloudBet harnesses the power of blockchain technology to provide players the privacy and financial freedom they deserve. Having processed over 10 million bets, it has become a trusted brand over time. But, instead of relaxing and reaping the rewards from earned respect, CloudBet is constantly looking for ways to improve the platform, offer more betting options, accept more currencies and provide the best experience for the most demanding players.
In June, the platform gained notoriety with an English Premier League campaign, by offering no margin on pre-match bets for all the games left in the football season. These fairer prices attracted many bettors as higher returns could be expected. These advantages can also be found in other sports bets offered by CloudBet, including basketball and tennis.
With such a long history of competitive features and attractive options, betting With Gold is another step in the right direction. One can only wonder what will be the next innovation will be, and how will CloudBet continue to delight players, remaining a respected and valued name in the crypto betting industry.