Tuesday April 25th 2023 – Crypto-based Lucky Block Casino and Sportsbook has finished the complete integration of the LBLOCK cryptocurrency into the top-rated gaming platform.
Lucky Block Casino and Sportsbook launched towards the end of November 2022 and up until now, although the LBLOCK token was promoted on the site, it wasn’t supported for real-money wagering.
However, from today (April 25th) for the first time, LBLOCK will join 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).
Plus, another added surprise for users, in addition to LBLOCK 14 other cryptocurrencies have also been integrated into the casino.
The list of new coins customers can now 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 integrated, not the version 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 Will Be Incentivized
Before the launch of the Lucky Block Casino and Sportsbook, the main product of the platform was lotteries and prize draws.
The team has now confirmed that the lottery feature will return in a changed form, with a version especially designed 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.
It has been officially announced that there will be a special tier in the loyalty program for LBLOCK.
There will also be a burn mechanism introduced, whereby an equivalent of the LBLOCK wagered over a six-month period will be burned from the token supply.
Full details of the various new utility features for LBLOCK are still being modelled by the team but exact 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 fast-growing sector.
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 completion of the LBLOCK integration is a very important milestone for the project overall, but it is just the start.
Next to be launched is the loyalty program for all casino and sportsbook users, in which LBLOCK, as mentioned, has a privileged position.
Having a native token brings certain potential competitive positives to the Lucky Block ecosystem. There are multiple ways in which LBLOCK can be positioned and its smart contract interacted with that will continue to enhance its value.
Adequate liquidity is an essential 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 want.
Gambling Is a Huge Market Opportunity for Lucky Block
Online betting is a fat moving and rapidly growing 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 getting in on the action, aiming to become one of the largest names in the arena.
Lucky Block, which launched last year, has made waves in the licensed 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 huge names of the crypto gambling space.
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 including blackjack and roulette.
Every leading spectator sport is available on the platform, including soccer, basketball, tennis, ice hockey, volleyball, handball, table tennis, American football, boxing, baseball, Aussie Rules, rugby, Formula 1 and cricket.
There are 35 sports in total that users can place bets on, in addition to eSports, of which there are 15 listed, including League of Legends, Counter Strike and Arena of Valor.
Overall, there are literally thousands of betting markets to pick from.
With so much to explore and play, Lucky Block provides 24/7 support on email and chat, so help is not far away.
Lucky Block Charges No Withdrawal Fees and Has Fast Payouts
The beauty of crypto gambling with Lucky Block is fairness and how simple it is to use.
Lucky Block charges no 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 fast payouts, overcoming two of the major issues 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 users who do not have crypto, they can buy 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 receiving 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 clear the way 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 intended 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 posted 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 license.