Poker news | Dec 14, 2021
Triton Poker, Kraken Cryptocurrency Exchange Form Unique Partnership
By RTR Dennis
The poker and cryptocurrency worlds have been loosely joined since the mid-2010s, when many poker sites began accepting Bitcoin deposits. They’re becoming even more bonded now thanks to a unique deal between Triton Poker and the crypto exchange Kraken.
Triton recently launched a new YouTube series that highlights its live poker tournaments. Kraken, a US-based exchange, has signed on to be the sponsor of the series.
“Triton Million: A Helping Hand for Charity” begins its coverage with the 2019 Super High Roller tournament in London. The 10-part series, which first went live on Sept. 24, 2021, continues covering Triton’s live events and its charitable side.
While this partnership might not appear overly significant on the surface, it does create some interesting future possibilities. I’ll cover these possibilities later along with more details on the Triton-Kraken deal.
Triton Uses an Interesting Partnership to Get Back in the Limelight
The Triton Million tournament series initially made a big splash with its high-roller events. It sponsored the 2019 One Drop tournament, which required a hefty $1.425 million buy-in. The One Drop drew many elite players that year, including Aaron Zang, who banked $25 million for winning.
However, Triton lost its momentum in 2020 when COVID-19 became widespread. Suddenly, the tournament organizer found itself canceling a major London event in 2020. It has since struggled to get anything going with further COVID restrictions.
The organization has since pivoted by using a YouTube series to keep people interested. The Kraken partnership is a big step towards relevancy.
After all, many poker players are also into cryptocurrency investing. Some even use crypto to deposit on online poker sites that accept Bitcoin, Ethereum, and/or other coins. This same crowd will no doubt find the union between Triton and Kraken to be interesting.
What the Kraken Deal Can Do for Triton in the Future
Again, Kraken has merely signed on to sponsor the Triton Million: A Helping Hand for Charity series for now. However, this premier cryptocurrency exchange could open future doors for Triton, which is battling through the COVID era.
Most notably, Triton can leverage this deal to create other crypto-based opportunities. It could allow high rollers to buy into its tournaments with one or more cryptocurrencies.
After all, Triton Million is an international affair that draws some of poker’s biggest names worldwide. Some of these same players find it cumbersome to send funds in another currency.
Crypto, however, has proven to be a great international payment method. If one sends Bitcoin, for example, they don’t need to exchange it for another currency.
Instead, they simply make a peer-to-peer transaction. The recipient can later exchange the Bitcoin for their native currency later or keep it in BTC.
Another potential perk involves Triton creating its own digital token with Kraken’s help. It could let fans buy shares in certain players through the tokens. They’d then stand to win money based on how well their chosen player(s) performs.
In summary, Triton may be struggling still due to the pandemic restrictions. However, it’s certainly taking a right step towards recovering with the Kraken advertising deal.