There are quite a few positive things that have happened in the crypto gambling industry after the unfortunate Stake.com hack worth $40M that shocked the industry.
Stake has since continued operations, but today, we’re here to discuss other pressing news.
New Loyalty Program Introduced at mBit
mBit has always had a place among the best Bitcoin casinos, and that’s because there’s always something new going on on this platform.
Not longer than a month ago, mBit introduced a new loyalty program Conquer the Universe.
It comes with 10 levels – you start off at Earth with the highest level being the Moon.
Players who acquire 25,000 Status Points and reach the final level will enjoy perks like 5000 USDT upon hitting the final level, 1000 weekly free spins, 15% daily cashback, and personalized support.
Australia to Ban Cryptocurrencies and Credit Cards
Australian operators are looking to put a ban on credit cards and cryptocurrencies. Those breaking the rules are expected to face a fine of up to $150,000.
Local media has suggested that a bill has already been passed to the parliament, with the Minister of Communications suggesting that people shouldn’t bet with money they can’t afford to lose.
Land-based casinos have had a ban on credit cards in Australia for a long time now, so it’s only expected that this will apply to online casinos in the near future as well.
With that said, there weren’t any specifics about where cryptocurrencies exactly fit into this ban. However, since Australians can still buy crypto with a credit card, this is a very likely outcome.
The most affected casino by these new developments is Stake.com, which is a crypto casino that has been trying to acquire a license in Australia for over 3 months now. If this bill is to take place, it will mean that Stake.com won’t have a place in Australia’s regulated gambling market.
Not the best month for Stake indeed.
Bitcoin Price is On the Rise (Or Is It?)
Bitcoin has shot up to over $27,000 on Monday (18th of September, 2023), rising over 2% in just 24 hours.
Shortly after, however, BTC took a sharp tumble within minutes to $26,700. What to make of this time will show, but we believe that the biggest crypto will continue to rise after the summer’s downward move.
This is especially true if the bottom formed on June 14th, 2023, manages to hold. Bitcoin touched this price point on the 11th of September and bounced off with an upward move fairly quickly. If the structure is to hold, we may be seeding a recovery very soon.
New Game Alert at 7Bit Casino
Super Golden Dragon Inferno is Betsoft’s latest online slot game, and it’s a sequel to its original Golden Dragon Inferno that’s available to play at many online casinos.
The release date is set to September 28th, 2023, but the game is already available at 7Bit Casino for those who like to try it out early before it makes its way to all other casinos.
As with most Betsoft games, this one comes with a higher-than-average RTP of 96.43% and a big maximum win of 2,916x. The main difference between the original and this one is the volatility. Super Golden Dragon Inferno features medium/low volatility with a hit rate of 63.89%.
The 5 reels and 243 paylines remain the same.
The 3 main features of this game are:
- Random Wild – When it appears in a winning combination, an additional Random Wild will drop onto the reels.
- Hold & Win Bonus – To trigger the Hold & Win Bonus rounds, you will need to land 6 or more scattered bonus symbols on your reels. The bonus symbols will remain locked in place during the 3 respins, and if you land another – it will reset again to 3.
- Nudging Multiplier Wild Reel – While playing, a partial stack of Wild Reel may nudge up or down to create a full Wild Reel and enhance your chances of winning. This can only happen on reel number 3.
In What Shape is the Crypto Gambling Industry?
According to statistics by Softswiss and other iGaming giants, cryptocurrencies have accounted for over 30% of all bets in the first quarter of 2023.
Official data is yet to come out, but we expect it to be higher than the previous year’s first quarter, where 35.96% of all bets were placed with crypto.
Fun Fact: Over 60% of all Bitcoin transactions are related to gambling.
So, is the crypto gambling industry healthy? It very much is indeed. And it will only get even healthier over time based on all reports.
Thanks for reading, and do come back for all the latest Bitcoin gambling updates!
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