Cloudbet has launched the world’s first crypto horse racing book ahead of the 2021 Melbourne Cup this week.
A pioneer of crypto betting
In what is the cutting-edge casino’s latest attempt to stay ahead of the curve, customers can now bet on horse races at Cloudbet with over 12 cryptocurrencies including Bitcoin. This comes just days before the biggest race in the sport’s international calendar.
A spokesperson for Cloudbet explained the timing of the move in greater detail: “The Melbourne Cup is not only one of the most famous horse races in the world; but one that goes beyond sport into popular culture in Australia and abroad,” they said.
“This race might stop the nation, but it won’t stop us bringing the crypto advantage of better margins, lower transaction costs and faster withdrawals to racing fans.”
A natural move
The move comes just months after a series of launches and upgrades in the past year alone. The company was founded in 2013 but has climbed the ranks amongst its peers and now offers social bet sharing, political betting, e-sports, and even fully native sportsbooks available in 17 languages around the world.
In recent years, cryptocurrency has infiltrated a wide range of industries and sectors and is now the preferred way to pay for a growing number of consumers. This makes horse racing the latest sport to get involved and reap the wide-reaching benefits that have emerged for both parties.