Cloudbet and Other Crypto Operators Launch Esports Products

Three new crypto and blockchain operators have introduced esports in the last two weeks. Cloudbet, BetProtocol, and FortuneJack have all added or extended their esports products.

Cloudbet Upgrades Esports Offer with In-play Markets

Cloudbet has become the latest blockchain operator to launch an esports product, and specifically introduce in-play betting markets consumers can bet on with cryptocurrencies. The sportsbook covers extensive markets, including Counter-Strike: Global Offensive, FIFA 20, NBA2K, Call of Duty, League of Legends, and others.  

Coinciding with the release, Cloudbet added a Discord channel, gauging esports behavior and adding a place where punters could swap betting tips. The company also added a Bet of the Day feature for the vertical, offering what Cloudbet considers the best odds.

A company spokesperson explained that betting on esports with crypto has immense potential, which Cloudbet now wants to realize. He specifically said:

“Our figures indicate clearly that there is strong demand and we will continue to invest in making our platform the best place to bet on esports with crypto. Our aim as a responsive and innovative operator is to recognize what our customers want and deliver it to them.”

Presently, Cloudbet offers over 60 markets updated daily. Yet, interest in esports has soared during the COVID-19 outbreak. A newly-released report by EveryMatrix, based on data from 10 partner sportsbooks offering esports, indicated that interest in esports betting has grown 40 times.

Not surprisingly, 80% of all bets have been placed on FIFA 20 and NBA2K contests. The median spent per player has also increased, but the report’s key weakness is that it fails to cite total handle.

In the meantime, however, EveryMatrix has provided valuable insight, and explained that some sportsbooks could lose up to 90% of their newly-converted esports bettors unless they acted quickly.

BetProtocol and FortuneJack Join the Esports Market

BetProtocol is another blockchain-company to launch an esports product, featuring a number of established titles, such as Overwatch, Dota 2, CS: GO, League of Legends, and others. Recently, the company introduced its proprietor online gaming development software solution, and it continues to expand in a new and exciting market.

The BetProtocol Esports platform is also integrating a Twitch Streaming option, in what is a prescient way to create a more native experience for esports fans. BetProtocol similarly plans to add additional daily challenges and community competitions, as the company finds its bearings in this new market. Further updates will include team and player stats, game stats, and per-round details, with the platform offering a handy breakdown of important information.

Meanwhile, FortuneJack added an esports offer earlier this week. The available esports as of today are CS: GO, Dota 2, League of Legends, StarCraft, Overwatch, and King of Glory.