Lucky Block (LBLOCK) has risen by 14.5% in the past 24 hours, following the launch of the Lucky Block Casino and Sportsbook. Its current level of $0.00016860 also marks an 13% increase in the last seven days, with the launch of the new features serving to boost positive investor sentiment towards the platform and its native token.
Now that Lucky Block has incorporated an online casino and sportsbook, users can play slots, poker, live casino and table games, and also place bets on 35 sports and 15 eSports, including soccer, basketball, tennis, American football and Forumla 1. Combined with its pre-existing NFT competitions, these new offerings should help draw in new users, boosting adoption and, ultimately the price of LBLOCK.
Lucky Block Launches Exciting New Crypto Casino with Slots, Poker and Live Casino – LBLOCK Price Pump Incoming?
As of writing, LBLOCK’s price of $0.00016860 leaves it 20% down in the past month. However, as its chart illustrates, its relative strength index (purple) has shot up in the past few hours, reaching nearly 70.
This signals some very strong momentum, and with the RSI not yet moving into ‘overbought’ territory, there’s still room for LBLOCK’s rally to continue.
As stated above, this rally has been caused mostly by Lucky Block’s announcement that it will be adding a new crypto casino and sportsbook to its platform.
Today, we are pleased to announce the debut of Lucky Block Casino and Sportsbook.— Lucky Block (@luckyblockcoin) November 29, 2022
🚀Our New full-featured service includes all of your favourite gambling games, including slots, poker, live casino, table games and many more!
Both features are designed to be fair and easy to use, with Lucky Block charging no fees on deposits or withdrawals (although there may be network transaction fees when transferring funds to the Lucky Block wallet, depending on the crypto). Also, Lucky Block Sportsbook will be offering users 15% cashback on any losses made in the first seven days after registration.
On top of this, the transparency of blockchain technology means that payouts will be fast and frictionless, with accounts credited as soon as transactions are confirmed on the blockchain. At launch, the Lucky Block Casino and Sportsbook will support nine cryptocurrencies, including Bitcoin, Ethereum, Tether, Litecoin, and Dogecoin.
Lucky Block’s aim in launching the two new features is to enter the online betting industry, which is currently valued at $58 billion, although Custom Market Insights forecasts that it will triple in size to $145.6 billion by 2030. It also aims to reach (and eventually surpass) the size of market leader Stake.com, which is estimated to be worth about $1 billion.
These are ambitious aims, but with Lucky Block already offering a range of NFT-based competitions and proving popular since its launch in January, it has every chance of realizing them.
In turn, the new features could really boost the adoption of LBLOCK, which previously saw an all-time high of $0.00974554 in February. Such a level could eventually be passed in the New Year, assuming a return to more bullish conditions.
Would-be users can access the Lucky Block Casino and Sportsbook simply by going to the Lucky Block website. The platform is available in most countries, although the US, UK, and a few other nations are geo-restricted, meaning users may need to use a VPN.
Users will also need to hold LBLOCK to play the various games offered by the Lucky Block Casino and Sportsbook, which holds a Curaçao Licence issued by the Curaçao Gaming Control Board. They can purchase LBLOCK on Gate.io, MEXC, and LBANK, as well as on PancakeSwap and Uniswap.
Based on the spike in LBLOCK’s price over the past hours, it already seems that users have begun acquiring the altcoin in order to play the new casino and sportsbook. And seeing as how these have been live for less than a day, LBLOCK could witness even bigger spikes from here on out.