Last week’s seven-figure pot between Tony G and Leon Tsoukernik has sparked a new wave of crypto poker action. Now, a mystery player by the name of BenjaminTravesty is piquing peoples’ interest with a stack worth $2.4 million on Coin Poker.
The latest $1K/$2K cash game on CoinPoker featured G, Tsoukernik, and Laszlo Bujtas, aka omaha4rollz, along with some unknown players in the mix, something that’s common in high-stakes online cash games. One of those mystery players was BenjaminTravesty, who was sitting with one of the biggest stacks ever seen at an online poker table.
CoinPoker becomes high-stakes home
For context, games on CoinPoker use Tether, which is a crypto token that derives its value from the USD. It’s technically known as a stablecoin because its value moves in line with the dollar. So, $1 in USDT (Tether) is worth $1.
This BenjaminTravesty has a $2.5m stack on coin poker against Leon/Tony G/omaha4rollz etc, is this the biggest stack in online history? pic.twitter.com/bOrRn5fyj2
— Patrick Leonard (@padspoker) January 24, 2022
That means the USDT 2.4 million BenjaminTravesty had on the table was worth $2.4 million. Partypoker ambassador and tournament pro Patrick Leonard was one of the first people to spot the super-stack. He asked if it’s the largest stack anyone has ever had at an online poker table. It’s hard to know if it is because, in general, only the largest pots are recorded.
Crypto poker is perfect for high rollers
For supporters of crypto poker, the buzz surrounding BenjaminTravesty is more great promotion. However, it may also be a sign that high-stakes players are ready to transition away from live games. Stacks of $1 million+ are common in private games, particularly in places such as Macau.
With live action hard to come by in recent years due to COVID, and with security always a concern, online poker is the natural alternative. However, depositing and withdrawing large sums of money has always been an issue online. This is where cryptos can be useful. Bitcoin and other token types provide cost-effective, safe, and efficient transactions, regardless of the amount being sent.
Transfer fees can vary based on network activity, but the amount you’re sending doesn’t matter. For example, if the cost of a Bitcoin transaction is the equivalent of $0.10, it remains $0.10, regardless of whether you’re sending $1 or $194 million. That makes it ideal for high-stakes poker players looking to move huge stacks around online.
The hype surrounding CoinPoker might not last forever, but the impact of its games could be long-lasting if more players embrace the potential benefits of cryptocurrencies.