Crypto Betting Weekly: 6 August 2021

Dubai hosts the world’s first crypto-only sports event

Social Knockout, an amateur boxing event, saw YouTube celebrities and influencers such as Money Kicks and Adam Saleh going head to head at the Coca-Cola Arena in Dubai. Several of the social media personalities made their amateur boxing debuts in the card that comprised 10 bouts. The event was organized by TK Fight Night the brainchild of MMA veteran Tam Khan who spearheaded MMA in Dubai with the Dubai Fighting Championship.

The world’s first-ever cryptocurrency-only combat event ran completely on crypto transactions. KoKoSwap tokens were used for all of its transactions, ranging from ticketing to the organizers’ expenses. Tokens were also used to pay for the event’s photography with the photos to be auctioned off as non-fungible tokens (NFTs).

Wyoming to launch crypto sports betting in time for NFL

Legal sports betting is one step closer to becoming a reality in Wyoming, following the Gaming Commission’s unanimous approval of sports betting rules this week. The state is now offering uncapped licenses for online sportsbooks as the state has no commercial land-based casinos.

What really sets this sports betting regulation apart from that of Tennessee, which also offers uncapped licenses, is that bettors will be able to bet with both crypto and government currency. The Wyoming Gaming Commission is expediting the implementation of these rules to capitalize on the 2021 NFL season starting on the 9th of September 2021.

Rise in crypto adoption good for crypto sportsbooks and casinos

A report issued by Crypto.com, a cryptocurrency exchange and fintech services firm, revealed that the amount of crypto users has doubled from 106 million in January to 221 million in June 2021. This will inevitably have far-reaching benefits for crypto sportsbooks and casinos as more people look to crypto as a payment method. Research carried out by the exchange included data from 24 crypto exchanges including Binance, Huobi, FTX, and Kraken. Widespread adoption can be attributed to several factors with the bitcoin bull market enjoying the limelight in Q1 and the meme coin boom (especially Shiba Inu and dogecoin) and the altcoin push in Q2.

Following the increase in crypto uptake, Paypal has advertised over 100 crypto positions and will expand its crypto services including launching a “super app”, open banking integration, UK expansion, and third-party wallet transfers. Widespread adoption by both institutions and retail holders bodes well for all parties concerned as more people are opting to use crypto over government currency with crypto sportsbooks and casinos waiting in the wings.

Weekend bets to watch…

Nice v Reims – Nice to win at odds of 1.91

Nice has been busy in the transfer market this summer. Spending nearly €40m on 7 new singings (including Justin Kluivert, Calvin Stengs, Jean-Claire Todibo, and more), they should improve on their solid showing last season. Not only that, they now have Christophe Galtier as their manager – the man who took Lille to the Ligue 1 title last season. Reims has signed 1 free transfer – 40-year-old goalkeeper Nicolas Penneteau – and a defender on loan from Inter Milan. The home team looks overpriced here and will be confident in getting their season off to a winning start.

Bordeaux v Clermont – Bordeaux to win at odds of 2.107

Newly promoted Clermont faces a tricky tie against Bordeaux in their opening Ligue 1 match. The top-tier new boys have been quiet in the transfer market, with just a few free transfers coming in. Bordeaux has appointed the manager behind Switzerland’s excellent Euro 2020 campaign, Vladimir Petkovic. It will be interesting to see how Clermont deals with the step up in quality, but at over even money Bordeaux is worth a watch.

Maritimo v Braga – Braga to win at odds of 1.83

Braga finished 4th in the 2020/21 Portuguese Primera Liga. They face Maritimo who finished just 1 point above the relegation playoffs last season. The visitors here are a much better side than their hosts and should have too much quality for their opponents. Martimo has only beaten Braga once in their last 6 meetings, so the away side is the play here.

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