Cloudbet adds PaxGold to bitcoin casino platform

Cloudbet adds PaxGold to bitcoin casino platform

Cloudbet is living up to its billing as the pioneer in the Crypto or Bitcoin Casino vertical.

For the first time ever, players can now bet online with gold after Cloudbet integrated PaxGold into its platform.

Cloudbet Launches New Website and Features with An Update

Gold formally enters the bitcoin casino scene

Cloudbet’s move to integrate gold betting on a crypto-gaming platform only means another step in the evolution of tokenization.

Smart contracts and blockchain technology make physical assets like gold divisible, tradable, and easier to exchange.

With regards to PaxGold, each unit of the digital asset equals one fine troy ounce of gold bar.  The Paxos Trust Company keeps these gold bars in their vault with their value fluctuating at a steady rate.

Gold privileges await

Cloudbet offers members who deposit PaxGold with bundles of privileges. The platform gives PAXG-depositing players a welcome bonus worth 5 units of cold coins or $10,000. It also offers 100 free spins consumable for two weeks on a gold-themed bitcoin video casino slot.

Cloudbet has now integrated three stablecoins this year. The crypto-gaming platform successful launched USD Tether (USDT) and USD Coin (USDC) – the biggest coin in the stablecoins segment.

The arrival of stablecoins in the crypto-gaming business comes as no surprise since bettors want the value of their cryptocurrency winnings protected from volatile price fluctuations.

The value of USDT and USDC are fixed on a 1-to-1basis with the US Dollar. On the other hand, the price of PAXG depends on the prevailing value of gold in the market. It only shows the value of stablecoins is almost constant compared to other cryptocurrencies.

Cryptocurrency stakeholders believe stablecoins would play an important part in luring traditional fiat currency bettors into the world of crypto-gaming.  Top bitcoin casinos also offer fast transactions, low fees, and top-tier bonuses.

More on Cloudbet

Founded in 2013, Cloudbet is one of the pioneers in the crypto-gaming space. Its business focuses on crypto casinos and sportsbooks while ushering innovations in the industry.

Cloudbet’s April re-launch has seen the platform integrating new features into their portfolio. It is now offering esports, politics betting, easy credit-card coin purchases, and the three stablecoins.

In June, the company made a bold venture with the English Premier League, putting crypto-gamming in the mainstream spotlight.

The promo, which is part of Cloudbet’s best odds campaigns, had given bettors access to the fairest price and highest return in the market by charging no margin on pre-match bets for the remaining games of the season.

About Adam Green

Adam Green is an iGaming industry written that has been covering industry regulation and events for the past 11 years. He has written for a number of other publications including iGaming Insider, IGB Magazine and Gambling 911.