NFT project BAYC's ApeCoin cryptocurrency accepted by first online casino and sportsbook operator

Reading time 2:07 min

Online sports betting, poker and casino platform has become the first casino and sportsbook company to accept the Bored Ape Yacht Club (BAYC) ApeCoin cryptocurrency for transactions, according to a press statement shared last Friday.

The gaming operator added ApeCoin to its approved cryptocurrency processing list for deposits and withdrawals, the company announced via the Odds PR agency. ApeCoin ($APE) began trading on crypto exchanges on March 17, following months of hype behind the ERC-20 token created by Yuga Labs, parent company of popular NFT project Bored Ape Yacht Club.

BetOnline, which publicly announced its entry into the NFT market in February after purchasing Bored Ape #320 for $375,000 during Super Bowl week, describes itself as “an early adopter” of cryptocurrency: the website first began accepting Bitcoin for transactions in 2010.

"We got in early on Bitcoin because we are confident blockchain is the future of global currency," BetOnline CEO Eddie Robbins III said. "And now, it's incredibly exciting to start adding NFTs to our asset vault and be the first in our industry to accept ApeCoin. We're bullish on the world of Web3, and we're eager to build and strengthen our partnerships and promotions in this space."

Outside of Bitcoin, accepts more than a dozen altcoins for deposits and withdrawals on its platform. Among these cryptocurrencies are Ethereum, Dogecoin, Avalanche, Cardano, Polygon, Solana and USDC.

The company aims to be “widely respected” among the crypto community through processing perks, including zero transaction fees, high-level security and instantaneous deposits and withdrawals. Clients have access to crypto deposit limits up to $500,000, which is “the highest in the gaming industry,” according to a press release.

"We've established ourselves as the go-to sportsbook, poker and casino platform for crypto players who want the best gaming experience that is guaranteed by anonymity and transparency," Robbins added. "The security of our customers has been, and will always be, the top priority at BetOnline."

An Etherscan transaction from Thursday morning shows that the company's ENS domain and crypto wallet, betonline-ag.eth, claimed 10,094 APE tokens. A spokesperson said the company has “no intention” of selling its ApeCoin.

For March Madness, BetOnline is currently offering a 110% matching bonus for new customers depositing with cryptocurrency and a 45% deposit bonus for existing customers, the company further announced.

“NFTs are a new vertical for us, but we’re just as bullish on this global movement as we are on the crypto space,” Robbins said last month. “We’re just getting started with non-fungible tokens, but we have big plans for this burgeoning industry.”

The company’s acquisition of Bored Ape Yacht Club #320 marked the beginning of a “long-term vision for the Web3 world” and the “strengthening of corporate sponsorships and promotions,” according to the platform. “We saw this as an extremely exciting opportunity to join one of the world’s most desirable NFT communities,” said Robbins.

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