Crypto Gamblers Prefer Stability Over Speed, Cloudbet Data Reveals

Willemstad, Curaçao, Netherlands, October 17th, 2024 - A new report from leading crypto casino and sportsbook Cloudbet sheds light on the evolving preferences of crypto gamblers, highlighting their affinity for established cryptocurrencies over newer, faster alternatives.

Crypto Gamblers Prioritize Stability Over Speed in Betting Choices

Mainstream Coins Dominate Crypto Gambling Landscape

Cloudbet's year-to-date data reveals that traditional cryptocurrencies like Tether (USDT), Bitcoin (BTC), and Ethereum (ETH) continue to dominate the crypto gambling market, accounting for a significant portion of the platform's total turnover. USDT alone accounted for 47.3% of the platform's total turnover, with Bitcoin and Ethereum claiming 28.9% and 11.5% respectively.This trend suggests that crypto gamblers prioritize stability and familiarity over the speed and novelty offered by newer cryptocurrencies like Solana, Polygon, and Tron. Despite the growing usage of these altcoins, they remain lagging behind the more established digital assets.

Volatility Concerns Influence Crypto Gambling Preferences

A Cloudbet spokesperson highlighted the similarities between crypto gamblers and the broader crypto community, noting that concerns about volatility and price fluctuations are universal. This sentiment underscores the importance of stability and predictability in the eyes of crypto gamblers, who seek to minimize the risk of their winnings diminishing due to sudden market movements.The spokesperson added, "Volatility is a key metric, not just for crypto trading but for crypto gambling. Increased liquidity, more robust blockchain security, and other strategies can effectively manage and reduce a coin's volatility. Gamblers using volatile coins can feel like placing a bet, only to see their winnings diminish with a price drop."

Cloudbet Rewards Program Offers Flexibility in Cryptocurrency Choices

In June 2024, Cloudbet introduced an innovative rewards program that allowed users to earn USDT without rollover restrictions. This month, the company released a second iteration of the Cloudbet Rewards program, which now enables users to receive their rewards in the cryptocurrency of their choice.While USDT is expected to remain the preferred option for the majority of users, this new feature provides Cloudbet's customers with greater financial flexibility, allowing them to explore and potentially bet with a wider range of cryptocurrencies.

Crypto Gambling Market Matures Towards Stability

Cloudbet, a pioneer in the crypto betting industry since its launch in 2013, has witnessed the evolution of crypto gambling preferences firsthand. The company's spokesperson noted that the market has matured, with stability now being the watchword for the majority of crypto gamblers."After nearly a decade in the space, we've seen the market mature," the spokesperson shared. "Stability is the watchword now for the lion's share of crypto gamblers."This shift towards stability reflects the broader trends in the cryptocurrency market, where investors and users are increasingly seeking out digital assets with proven track records and robust blockchain infrastructure, rather than chasing the latest high-risk, high-reward altcoins.As the crypto gambling industry continues to evolve, Cloudbet's data suggests that the preference for established cryptocurrencies is likely to persist, as crypto gamblers prioritize the reliability and predictability of their betting experience over the potential for faster transaction times or higher volatility.