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LBLOCK spikes 40% after launch of new Lucky Block Casino and Sportsbook

By Alara Jordan

12:13, 30 November 2022

LuckyBlock digital token
Lucky Block Coin is launching its crypto casino and sports betting venture to try to to excite its users – Photo: Shutterstock

Lucky Block Coin’s native token LBLOCK V2 spiked briefly by more than 40% on 30 November after an announcement made by the firm of a new betting venture.

Lucky Block Coin announced via Twitter that it would foray into sports betting with the launch of its own crypto casino as a way to excite its users and community. The announcement comes when sports fan tokens are at a high thanks to the 2022 FIFA World Cup.

“Today, we are pleased to announce the debut of Lucky Block Casino and Sportsbook,” Lucky Block wrote on Twitter. “Our new full-featured service includes all of your favourite gambling games, including slots, poker, live casino, table games and many more.”

The service will accept nine cryptocurrencies including Bitcoin, Ethereum and Dogecoin.

BTC to USD

DOGE/USD

0.14 Price
-2.040% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

XRP/USD

0.61 Price
+1.830% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

BTC/USD

67,384.75 Price
-0.300% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

ETH/USD

3,430.66 Price
-1.550% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

LBlock V2 price surges

At the time of writing, the price of LBlock V2 was changing hands at $0.00027, up 64% in the previous 24 hours. The price broke past its resistence level of $0.00015 after the announcement and spiked to $0.00033 before settling back.

The platform has gathered significant mainstream interest from users after it announced its Sportbooks betting platform will provide a diverse selection of sports such as football, basketball, boxing and Formula 1.

It said: “The Lucky Block team is dedicated to bringing value to our community & investors, and by tapping into online betting, a booming industry valued at $58 billion; we hope to solidify LuckyBlock as a household name.”

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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