the staff of the Ridgewood blog
Ridgewood NJ, with Bitcoin hitting all-time highs, Cloudbet, a leading crypto sportsbook and casino, is bracing for a surge in betting activity for this year’s March Madness. The company anticipates that the combination of high crypto valuations and the excitement surrounding one of the biggest sporting events in the world will lead to record wagering volumes on its platform.
“The confluence of the crypto bull run and March Madness excitement is creating a perfect storm for record breaking betting over the next few weeks,” a Cloudbet spokesperson said. “Several VIPs have already reached out to ask us what the max bet on basketball is right now, so we are aiming to have the highest basketball betting limits anywhere online. A lot of bettors are clearly ready to go very big this year.”
Cloudbet says while the main spreads and standard bets will definitely see the most action, in a tournament with so many variables leading to the final rounds, many people see big potential in outright odds on which teams will make it further and further into the bracket.
“During a crypto bull market, the increased betting power of crypto holders can lead to larger payouts. If you’re bullish right now, and you feel like you’re on a predictions roll, you’re betting outrights, you’re betting Elite 8, Final Four, Champion.”
If the sportsbook is right about a record breaking increase in wagering this year, it would be a clear sign of a global movement to people not just betting on Bitcoin (as evidenced by soaring prices), but also betting with Bitcoin.
Said Cloudbet’s spokesperson, “The whole crypto community is so excited about what’s going on right now in the market, and for those of us that are also basketball fans, this bull market plus March Madness is just going to be so much fun.”
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