December 3, 2022

Melbourne Cup 2021 featured world’s first crypto horse racing sportsbook

Melbourne Cup 2021 featured world’s first crypto horse racing sportsbook

Verry Elleegant won the Melbourne Cup 2021 in fantastic style. The New Zealand mare wasn’t the favourite to win the race, but overcame bookies’ top horse, Incentivise, to win the race. What horse racing fans may not have realised in the build-up to the race was the world’s first crypto horse racing sportsbook offered punters the chance to wager on the “Race that Stops a Nation” using digital currencies.

Cloudbet gave customers the chance to wager on horses at the Melbourne Cup 2021 using bitcoin and 12 additional cryptocurrencies. In fact, punters could wager on all of the races at the Melbourne festival using digital currencies. If you are looking for more information about Melbourne Cup betting, have no fear as you can get the latest odds and favourites for next year’s edition of the race.

The Melbourne Cup is one of horse racing’s most famous events in the world. In Australia, the race goes far beyond being a horse race. It is more than sport and transcends pop culture. According to Cloudbet, the company is able to offer horse racing punters better odds and margins, lower transaction costs, and faster withdrawals of winnings than traditional online sportsbooks that use fiat currencies.

Cloudbet became the world’s very first sole cryptocurrency betting platform to offer odds on horse racing. With the increase in people around the world using cryptocurrency and digital currencies becoming more commonplace every day, horse racing became a new feature on the Cloudbet website prior to the Melbourne Cup 2021. The sportsbook had made a number of upgrades in recent weeks in the buildup to the “Race that Stops a Nation”.

Cloudbet opened in 2013 allowing customers the opportunity to wager on politics, sports, and esports. In 2021, Cloudbet made it possible for customers to use Dogecoin and Litecoin, two popular cryptocurrencies. The crypto bookie held a vote amongst its customers over which digital currencies to use next. Nearly 10,000 Cloudbet customers voted for Dogecoin and Litecoin to be added. The sportsbook has made a promise to customers to only use cryptocurrencies that are in heavy use by clients. The aim is to adjust to customers’ needs and wants rather than the other way around.

More sportsbooks now offer cryptocurrency betting to punters. So far, cryptocurrency has had a major impact on betting on sports such as horse racing. Advantages of using cryptocurrency on horse race betting include convenience, player anonymity, ease of deposits and withdrawals, and it allows sportsbooks to target a young generation.

In the last five to 10 years, cryptocurrency has become a part of a wide range of industries. For many customers around the world, cryptocurrency has become the preferred way to pay. Horse racing is now the latest sport involved with digital currency, and it all began with the Melbourne Cup 2021. Horse racing should reap the wide-reaching rewards of sportsbooks accepting cryptocurrency as payment.

Next year’s Melbourne Cup is likely to see cryptocurrency as a regular part of horse racing. More punters may make it the preferred way to wager on the 2022 edition of the “Race that Stops a Nation.”