iGaming Operator Rivalry Adds $TRUMP Cryptocurrency as Payment Option
Its a move that our best sports betting sites aren't likely to follow any time soon.
Canadian sportsbook and iGaming operator Rivalry has added $TRUMP, a cryptocurrency associated with US President Donald Trump, to its payment options. The company announced this just days before the presidential inauguration.
The $TRUMP cryptocurrency, based on the Solana blockchain, was launched by then-President-elect Trump over the weekend, just before his official inauguration. Rivalry introduced $TRUMP as a payment option almost immediately after its release.
The new $TRUMP meme coin has already generated significant attention. As Trump assumed office for his second term, the cryptocurrency's market value soared to over $10 billion. However, it didn’t stay there, and the price has already bottomed out.
One of many meme coins
Meme coins are a phenomenon in cryptocurrencies that show extreme price volatility. Touted as humorous, satirical coins, they suddenly surge in price with community and social media interest and popular backing.
Among the most popular is Dogecoin, which started as a joke but has since become very popular. Dogecoin's success is tied mainly to the endorsement of influential figures like Elon Musk. Musk's tweets and public statements have repeatedly spurred surges in Dogecoin's value.
Additionally, the Department of Government Efficiency (DOGE) that President Trump is expected to establish to cut costs in running the US government and which will be run by Elon Musk is rumored to be named as it is, a nod to Dogecoin.
The launch of $TRUMP accompanies a surge of Trump-related crypto ventures. Before taking office, President Trump promised to advocate for a "golden age" for cryptocurrencies.
However, the rollout has not been problem-free. Its critics include Castle Island Ventures' founding partner, Nick Carter. A well-known supporter of Trump, Carter said this was "completely preposterous" in comments to Politico, telling the media outlet that the meme coin launching undermines the sincerity of the much larger cryptocurrency field.
It's unlikely that we see our other best sportsbooks in Canada or online casinos in Canada follow suit.
Not Trump’s first interaction with gambling
President Trump has already attracted plenty of attention in the gambling community, with his reelection campaign launching prediction markets into the limelight. These sites allow players to predict upcoming pop culture events by buying event contracts that pay out a certain amount if they are correct.
The 2024 presidential election attracted plenty of attention. By a far wider margin, Trump was predicted to win the election by prediction platforms like Kalshi than exit polls in the US. This was a more accurate prediction of the election. Additionally, sites like Polymarket, which doesn’t operate in the US, attracted huge wagers, with the most significant wager claiming $48 million in profit on Trump’s victory
