Tuesday April 25th 2023 – Crypto-based Lucky Block Casino and Sportsbook has finalized the full integration of the LBLOCK cryptocurrency into the top-rated gaming platform.
Lucky Block Casino and Sportsbook initiated at the end of November 2022 and up until now, although the LBLOCK token was promoted on the site, it could not be used for real-money wagering.
However, today for the first time, LBLOCK takes its place alongside other leading crypto currencies that can be used for betting, such as Bitcoin, Ethereum, Litecoin, Dogecoin and other coins, as well as stablecoin Tether (USDT).
In other news for users, in addition to LBLOCK 14 other cryptocurrencies have been integrated into the casino.
The list of new coins customers can use is as follows: LBLOCK, Cronos, Monero, Dash, Zcash, Solana, Avalanche, Dai, Chainlink, Polygon, USD Coin, Polkadot, Uniswap, Shiba Inu and Wrapped Bitcoin.
It is the Ethereum-based V2 version of the token that has been added, not the kind running on the Binance Smart Chain (V1). A bridge to enable holders of V1 to migrate to V2 will be released soon.
Lucky Block token usage incentivized
Prior to the launch of the Lucky Block Casino and Sportsbook, the leading product of the platform was prize draws and lotteries.
The team has now established that the lottery feature will return in a different form, with a version especially created for Lucky Block token holders.
Also, previous messaging which suggested that the LBLOCK token would hold a leading position on the platform, with special privileges over other cryptocurrency, has also been confirmed.
There has been confirmation that there will be a special tier in the loyalty program for LBLOCK.
There will also be a burn mechanism launched, whereby an equivalent of the LBLOCK wagered over a six-month period will be burned from the token supply.
Exact details of the numerous new utility features for LBLOCK are still being modeled by the team but full details will be available in the coming days and weeks.
The burn mechanism is thought to be a first for iGaming and crypto, placing the Lucky Block casino at the forefront of a rapidly expanding sector.
Community manager Damian Jacobs: “Giant step in the right direction”
Commenting on the news, Damian Jacobs, community manager at Lucky Block, said: “The integration of our native $LBlock V2 token into the casino and sportsbook is a giant step in the right direction.”
Jacobs continued: “Our goal is to bridge traditional iGaming operations into cryptocurrency and Web 3.0 – this move supports that growth path and cements our dominant position as the builders of a truly revolutionary gaming product.
“We have much more planned, with the $LBLOCK integration just the tip of the iceberg. We are looking at additional ways to reward users, incentivize $LBLOCK usage in the casino and sportsbook, as well as other plans to fully unleash our platform’s Web 3.0 potential.”
Loyalty program and more coming for LBLOCK holders
The fulfilment of the LBLOCK integration is a key milestone for the project as whole, but it is just the beginning.
Next to be rolled out is the loyalty program for all casino and sportsbook users, in which LBLOCK, as mentioned, has an advantaged position.
Having a native token brings certain potential competitive advantages to the Lucky Block ecosystem. There are many ways in which LBLOCK can be positioned and its smart contract interacted with that will continue to increase its value.
Alongside the integration of LBLOCK, the team is also looking to inject liquidity into the markets for the coins on centralized exchanges, such as Gate.io, MEXC and LBank.
Adequate liquidity is a crucial part of trading so that the orders from buyers and sellers can always be matched and factors such as slippage reduced, so that traders get the deal price they expect.
Gambling is a huge market opportunity for Lucky Block
Online betting is a booming industry valued at $58 billion in 2021 and the crypto newcomers are its leading disrupters.
Gambling is probably one of the most successful sectors of the crypto industry, and Lucky Block is barging in on the action, aiming to become one of the biggest names in the space.
Lucky Block, which started last year, has made waves in the licenced gaming space with its high-profile sponsorships of boxers such as Dillian Whyte, Florian Marku and Savannah Marshall, is aiming to go toe-to-toe with the current big names of the crypto gambling scene.
Lucky Block is a fully-featured casino and has markets in all major sports
The fully featured service includes all the online casino favorites such as, slots, poker, live casino and table games such as roulette and blackjack.
Every top spectator sport is available on the platform, including soccer, basketball, tennis, ice hockey, volleyball, handball, table tennis, American football, baseball, boxing, Aussie Rules, rugby, Formula 1 and cricket.
There are 35 sports in total that users can bet on, as well as eSports, of which there are 15 listed, including League of Legends, Counter Strike and Arena of Valor.
All told, there are thousands of betting markets to choose from.
With so much to explore and play, Lucky Block provides 24/7 support on email and chat, so help is always available.
Lucky Block charges no withdrawal fees and has fast payouts
The beauty of crypto gambling with Lucky Block is fairness and ease of use.
Lucky Block doesn’t charge fees on deposits or withdrawals, although, depending on the crypto, there may be network transaction fees to pay when transferring funds to the Lucky Block wallet.
Crypto gambling is booming because of its transparency and quick payouts, overcoming two of the major problems that afflict the legacy sector.
Withdrawals from accounts are credited as soon as transactions are confirmed on the blockchain – available publicly for all to see using a blockchain explorer.
Also, it is very straightforward for users to be onboarded using crypto – it takes less than 30 seconds. Simply enter your email and password, fund your wallet and you are ready to go.
For those who do not have crypto, they can purchase digital assets directly on the site using a credit or debit card.
Bridge to swap from LBLOCK V1 to V2 coming soon
For those in the Lucky Block community still holding the original V1 token, which was used for entering the lottery and obtaining the rewards, there will be a bridge to transfer from the BEP-20 Binance Smart Chain to the Ethereum blockchain where V2 runs.
The Lucky Block team built a bridge to facilitate converting V1 to V2 – the bridge was last opened in October 2022. The initial new date for its reopening was April 19th but that has been moved back to provide enough time to inform as many members of the community of holders as possible.
It is planned that the V1 token will no longer be supported due to its lack of utility, therefore it is imperative that current holders avail themselves of the bridge’s functionality as soon as it is available.
Details of the bridge opening dates will be shared on all Lucky Block social media and products.
Available widely and committed to responsible gambling
Lucky Block operates under a Curaçao License issued by the Curaçao Gaming Control Board.
Lucky Block supports responsible gambling and you must be 18 years of age to use the platform.
Lucky Block Casino does not accept customers from the United States, United Kingdom or Australia. Other market restrictions can apply and are subject to license regulations as per the Curacao Gaming Control Board. Lucky Block does not target customers in regulated markets in which it does not hold a valid licence.