Raising the Stakes: GambleFi or the New Web3 Trend

Contents

· Introduction
· Disclaimer
· Terminology
· Cryptocurrency Market Overview
· Why GambleFi Become a Trend in 2024?
· Online Gambling Market Size
· Geographical Overview of The Online Gambling Market
· Problems of The Gambling Industry and Their Solutions
· Using Blockchain Technology in Gambling
· Innovative Game Mechanics
· Use of Cryptocurrency Token in Gambling
· The Role of NGR in Shaping Platform Token Value Growth
· GambleFi Market Analysis
· Analyzing the Ecosystem of Crypto Gambling Platforms
· High-Performance Platforms
· Medium-Performance Platforms
· Low-Performance Platforms
· Gambling Integration in Telegram
· Utilizing the TON Blockchain
· How to Capitalize on The GambleFi Trend?
· A Brief Guide to Multi-Accounting
· Result
· Conclusion

Continuing our series of articles from the CW Labs team, we present an overview of the Web3 market and explore various income-generating avenues. Our previous articles delved into last year’s prominent trends, including NFT Raffles and Multi Accounting. You can read our articles at the links below:

• Free Mints Overview and NFT Raffles on Ethereum.
• Multi Accounting: Crypto Activity Guide.
• Premint NFT Raffles Overview and Multi-Accounting Guide.

After successfully covering the past trend a year later, we are excited to present our latest article, an in-depth overview of the Gambling Finance (GambleFi) market. This narrative carries significant potential as we approach the upcoming sports season.

In the forthcoming comprehensive article, we will immerse ourselves in cryptocurrency gambling, elucidating why we believe it’s poised to become a future trend and guiding you on how to seize its opportunities.

Looking forward, it took us a month of dedicated research and analysis to compile this article. We’d appreciate it if you shared this valuable resource with your friends. We plan to dive deeper into the GambleFi ecosystem and continuously share new insights with you. Kindly subscribe to our social media channels to stay updated with the latest information.

The primary objective of this article is to promptly analyze the GambleFi narrative and equip you with the knowledge to proactively position yourself to leverage the potential growth within this ecosystem. We’ve scoured the internet and have yet to find comprehensive analytical articles on this topic, so we’re eager to share this valuable information.

Before diving into the article, we strongly advise you to use our meticulously curated database on the Web3 market, meticulously assembled over the years. This resource is brimming with invaluable services, articles, analytical insights, tables, and more. Our mission is to foster a knowledgeable and robust community. To that end, we offer our Notion Database as a free tool.

Disclaimer

At CW Labs, we are deeply committed to promoting responsible gambling. Suppose you are concerned about your gambling habits or need assistance regarding responsible gambling. In that case, we strongly urge you to seek guidance and support from accredited organizations assisting individuals facing gambling-related issues.

Seeking help is a sign of strength and reflects your commitment to maintaining a healthy lifestyle. Numerous dedicated organizations are available to help those grappling with gambling problems. Don’t hesitate to reach out to these organizations for advice, support, and access to tools that can help you responsibly manage your relationship with gambling.

It’s important to clarify that our intention is not to endorse online casino platforms. In this article, our primary objective is to delve deep into the GambleFi trend and conduct the necessary analytics. We aim to help you capitalize on this trend without engaging in online casino play. To achieve this, you need to position yourself on the other side of the casino by investing in the trend, preferably at an early stage.

Terminology

To enhance your understanding of our article, we recommend acquainting yourself with key terminology from gambling and the cryptocurrency market. These terms frequently appear throughout the article; a firm grasp will facilitate your comprehension.

Gambling:

• CR (Conversion Rate) — represents the transition from initial registration to the first deposit and subsequently from the first deposit to a repeat deposit.
• GGR (Gross Gaming Revenue) — a financial metric that determines a casino’s overall revenue. It’s calculated as the difference between the total bets placed by players (X) and the number of won bets (Y). GGR doesn’t account for taxes.
• KPIs (Key Performance Indicators) — the essential metrics like GGR or NGR that guide a casino’s profitability strategy.
• Lifetime Value — a metric that gauges a player’s profitability over their entire history of online casino activity.
• NGR (Net Gaming Revenue) — a measure of net revenue encompassing taxes and player bonuses while excluding various operational expenses.
• Revenue Share — a payment model where a company offers a percentage of profits to affiliates or partners based on the revenue generated by referred players.
• RNG (Random Number Generator) — mechanism responsible for generating random numbers in online casino games, ensuring fairness and unpredictability.
• White Label — a form of franchising where a major gambling operator permits a smaller company to open its casino under an established brand, often with full development support, in exchange for a commission.
• House Edge — concept signifies the casino’s mathematical advantage in all games, ensuring a profit from players’ bets over time.
• AML (Anti-Money Laundering) — encompasses anti-money laundering measures, as well as efforts to counter the financing of terrorism and the proliferation of weapons of mass destruction.

Crypto:

• Altcoin — refers to all cryptocurrencies other than Bitcoin.
• Airdrop — free tokens distributed as a promotional strategy to raise awareness among potential investors and cryptocurrency enthusiasts.
• Web3 — represents the third generation of the internet, characterized by a prominent role of blockchain technology.
• DeFi (Decentralized Finance) — encompasses decentralized applications (DApps) that are interoperable and lack central leadership, government regulation, or geographic constraints.
• Decentralization — the distribution of authority among all system users, eliminating control by a single individual or group.
• DEX (Decentralized Exchange) — a P2P marketplace where transactions occur directly between crypto traders.
• IDO (Initial DEX Offering) — a fundraising event conducted in a decentralized manner.
• Cryptocurrency — a decentralized system based on cryptography for secure digital currency exchange and transfer.
• KOL (Key Opinion Leader) — key opinion leaders, also known as influencers.
• Liquidity — the capability to buy or sell assets in the market without causing significant price fluctuations.
• LP (Liquidity Providing) — involves acquiring and making a native project token available for trade alongside another token, enabling new users to purchase it from a decentralized exchange (DEX).
• OTC (Over-the-Counter) — direct communication between buyers and sellers, bypassing intermediaries like exchanges.
• P2P (Peer-to-Peer) — a network where users interact directly in decentralized systems, eliminating the need for intermediaries.
• Retrodrop — a type of airdrop where users are uncertain whether they will receive tokens in advance.
• Smart Contract — coded rules in the blockchain that enforce predefined conditions without the possibility of rule changes involving all participants.
• Staking — locking funds in a cryptocurrency wallet (often for a specific duration) to support blockchain transactions and receive rewards.
• Stablecoins — widely recognized tokens pegged to $1 to minimize volatility risk.
• Tokenomics — the economics of a project, covering token distribution, recipients, timing, and proportions.
• TGE (Token Generating Event) — when a project’s tokens are first distributed to investors.
• Fiat — government-issued currency.
• CEX (Centralized Exchange) — a centralized cryptocurrency exchange.
• MCap (Market Capitalization) — the market value of a cryptocurrency, calculated by multiplying the circulating supply by the current market price of each token.
• FDV (Fully Diluted Valuation) — the total market value of a cryptocurrency, calculated by multiplying the total token supply by the current market price per token.

Cryptocurrency Market Overview

2021 undeniably marked a pivotal year for the blockchain technology landscape. We witnessed a rapid evolution of the hottest crypto concepts, with new protocols and tokens emerging alongside groundbreaking innovations like the Metaverse, NFTs, DAOs, and GameFi.

The cryptocurrency ecosystem experienced an unprecedented influx of millions of new users, resulting in a meteoric rise in transactions involving digital assets. Businesses and countries have recognized the advantages of adopting blockchain solutions to bolster their core operations. An example is El Salvador’s historic move in September 2021, when it became the first nation to embrace Bitcoin as legal tender by enacting new legislation.

Blockchain-based applications like DeFi, DAOs, and dApps have piqued the interest of both retail and institutional investors, propelling the expansion of Web3. Every year, the cryptocurrency market ushers in a fresh wave of trends, and this time, it might well be the emergence of Gambling Finance (GambleFi). With a shared demographic of risk-tolerant users, the online gambling and cryptocurrency markets are converging.

It’s not surprising to witness numerous protocols eagerly capitalizing on this emerging trend. For instance, Wonderland has already allocated a substantial portion of its considerable resources, exceeding $18,000,000, for a seed round investment in a betting platform named BetSwap. Given Wonderland’s prominent standing, this move could significantly boost the momentum of this trend.

Why GambleFi Become a Trend in 2024?

Gambling Finance, GambleFi — the fusion of DeFi technology with traditional online gambling, represents a promising convergence within the Web3 space. While gambling is far from a new concept, it remains a popular activity, often driven by the allure of dopamine and adrenaline. The sector has demonstrated significant promise, as evidenced by the online gambling market’s estimated value of $95 billion in 2023.

Projections suggest that this market is expected to grow steadily at an annual rate of 8–9%, potentially reaching a substantial size of $131.90 billion by 2027. These figures underscore the gambling industry’s enduring appeal and economic potential, especially when integrated with cutting-edge blockchain technology and decentralized finance solutions.

The adoption of Web3 technology by GambleFi indeed presents several compelling advantages over traditional online gambling:

• Blockchain ensures a highly secure and transparent system. Transactions and game outcomes are verifiable and tamper-proof, instilling trust among players.
• Web3-based platforms typically have a lower barrier to entry, making them more accessible to a broader range of users.
• With Web3, users retain control over their funds, as they are not required to deposit assets into a centralized platform.
• Web3 systems are less prone to account suspensions or bans, as they do not rely on central authorities with the power to block users.
• In GambleFi, the platform’s community and investors often contribute reward pools and liquidity.
• Web3 technology allows for near-instantaneous payouts, which significantly improves the user experience.

These advantages collectively offer gamblers a more secure, user-friendly, and transparent environment. As the adoption of Web3 technology continues to grow, it has the potential to reshape the online gambling industry, providing players with a more decentralized and empowering experience.

Considering the widespread appeal of gambling among players and the substantial annual investments in the industry, GambleFi could emerge as a significant trend within the crypto market, especially in anticipation of the impending bull market.

Gambling and Crypto — a perfect match. Payment systems in the gambling world have long been plagued by challenges, primarily due to the often murky nature of money involved, resulting in hefty percentages being handed over to intermediaries. Cryptocurrency, however, has emerged as a solution to this persistent issue by streamlining funds management and introducing a new level of transparency to casino platforms.

As we approach the sports season, with the traditional surge in trading activity following the summer and heightened volatility, we can anticipate the unfolding of the GambleFi narrative. For instance, prominent platforms like Stake and Rollbit are poised to significantly influence the market and usher in a fresh wave of enthusiasts. Even if we conservatively assume that only 10% of individuals migrate to other Web3 platforms for gaming, the market will witness a substantial expansion.

The emergence of new narratives frequently adheres to a familiar pattern. A prominent token, such as $RLB, experiences a sharp surge in its market value, eventually paving the way for a slew of competitors. Conducting diligent research can be highly lucrative, particularly for those who seize the opportunities presented by the initial entrants in this space.

Rollbit Migration from Solana to Ethereum.

Twitter data often proves to be a reliable indicator for identifying the inception of a new narrative. In many instances, a single tweet generates a substantial resonance. In the case of the GambleFi narrative, a pivotal moment occurred on June 28 when Rollbit announced its migration to Ethereum.

Additionally, we have provided a link to a Dune Analytics dashboard, a valuable resource for exploring trends and crypto narratives. This dynamic tool lets you stay updated on the latest developments, as it is regularly refreshed with new narratives and projects. Each narrative is organized as an index, emphasizing the top five projects within that specific narrative.

Average Percentage of Returns per Week of Different Web3 Narratives.

Online Gambling Market Size

The online gambling market has witnessed remarkable growth in recent years, driven by its popularity. The continuous advancement of technology has drawn more individuals towards online gambling as entertainment. This upward trend is projected to persist, especially given the impact of the COVID-19 pandemic, which led to a substantial increase in online gambling’s popularity as people spent more time at home.

The introduction of blockchain technology has played a pivotal role in shaping the market’s expansion. Beyond conventional payment methods, gambling platforms, apps, and websites have embraced cryptocurrency payments. Due to its rapid and secure transaction capabilities, gambling with cryptocurrencies presents many opportunities. With fewer regulatory and transaction restrictions than traditional methods, cryptocurrencies have gained wide acceptance among online gambling enthusiasts.

Key metrics from Statista:

• The Online Gambling market is poised to reach a projected revenue of $95.05 billion in 2023.
• Anticipated growth shows an annual increase of 8.54% (CAGR 2023–2027), resulting in a market volume projected to be $131.90 billion by 2027.
• By 2027, the Online Gambling market is expected to boast 233.7 million users.
• User penetration is set to be 2.3% in 2023 and is projected to rise to 2.9% by 2027.
• The average revenue per user (ARPU) is $0.54 thousand.
• In a global comparison, the United States is anticipated to generate the highest revenue, projected at $19.14 billion in 2023.
• Canada is expected to lead in user penetration with a projected rate of 46.8% in the Online Gambling market.

Total Revenue in The Online Gambling Market.

Geographical Overview of The Online Gambling Market

Online gambling revenues by geography as of 2021:

1. United Kingdom: $12.48 billion
2. United States: $10.96 billion
3. Australia: $6.55 billion
4. Italy: $4.51 billion
5. France: $3.83 billion
6. Germany: $3.65 billion
7. Canada: $2.55 billion
8. Sweden: $2.10 billion
9. Spain: $1.60 billion
10. Greece: $1.30 billion

According to Visual Capitalist’s analysis, the United Kingdom has a total revenue of $12.5 billion. This impressive position can be attributed to the 2005 Gambling Act, regulated by the UK Gambling Commission (UKGC), which permits companies to promote gambling platforms. The burgeoning popularity of online casinos has played a significant role in driving market growth in the UK.

The United Kingdom stands ahead of the United States, which boasts $11 billion in revenue, making it the second-largest online gambling market worldwide. In the U.S., the legal framework currently restricts the operation of licensed bookmakers to specific states such as New Jersey, Nevada, and Pennsylvania, where betting activities are subject to stringent regulation.

Australia is ranked third, with a total revenue of $6.5 billion. While it is a strong contender, Australia’s gambling expenditures are roughly half that of the United Kingdom. The top ten leaders in this industry also include several European countries, namely Italy, France, Germany, Sweden, Spain, and Greece.

Online Gambling Revenues by Geography in 2021.

Remarkably, the top ten list doesn’t feature any countries from Asia, South America, or Africa, even though certain Asian nations surpass some European countries in terms of economic output and GDP per capita. This illustrates the unique dynamics of the online gambling market.

The North American market is poised for steady growth in the upcoming years, with increasing industry development across various regional countries expected to drive expansion. The Asia Pacific region is forecasted to experience rapid growth, boasting the highest Compound Annual Growth Rate (CAGR) among all other areas. This impressive growth can be attributed to the surge in smartphone usage and internet penetration in several developing countries, including China and India.

Problems of The Gambling Industry and Their Solutions

Issue 1.

Lack of decentralization and transparency in affiliate systems.

One of the most pressing issues in the gambling industry is the deficiency of decentralization and transparency within affiliate systems, which gives rise to a host of problems:

• Players often harbor distrust among themselves due to opaque processes and structures.
• The current system is vulnerable to manipulation, leading to unfair advantages for some parties.
• Investors need a transparent framework to maintain their investments.
• The lack of a trusted environment can deter potential affiliates from participating in the system, hampering its growth.
• Transparency issues cast a negative shadow on the industry’s reputation as a whole. With transparent and equitable practices, the sector may retain competitiveness.

Incorporating blockchain technology and smart contracts provides a promising solution to these challenges. The adoption of Web3 principles aims to establish decentralization and transparency within the affiliate system through these advanced technologies. This strategic shift is expected to instill trust among players, investors, and partners, effectively mitigating the existing problems and fortifying the industry’s position in the market.

Issue 2.

Excessive fees for payments and transfers.

Cryptocurrency addresses this concern using peer-to-peer (P2P) technology and incorporating crypto-acquiring methods. This allows for effortless funding in traditional fiat currencies and stablecoins while sidestepping extra transaction charges.

Issue 3.

Rising transaction processing delays.

To tackle this issue, the following approach is employed:

• In the realm of Web3, high-speed solutions like zkRollups are harnessed to deliver rapid and cost-effective transaction processing, ultimately enhancing overall efficiency.
• For minor transactions, using off-chain transactions allows instantaneous deposit and withdrawal of funds. This strategic choice significantly minimizes the processing time required for these types of transactions.

Using Blockchain Technology in Gambling

The mission of blockchain technology in the context of gambling is to transform the gaming experience completely. It harnesses cutting-edge technology to establish a secure, immersive, and responsible virtual casino environment. The primary objectives are to offer unparalleled entertainment, deliver exceptional customer service, and present a seamlessly intuitive interface, ensuring a world-class gaming experience right from home.

This modern technology endeavors to spearhead a revolution in virtual gambling by establishing entirely new benchmarks in innovation, security, and responsible gambling. It aims to redefine how we perceive and engage with online gaming, setting the stage for a future where players can confidently enjoy their favorite games, knowing they are part of a safe, cutting-edge, and responsible gaming ecosystem.

Blockchain’s key objectives in the realm of gambling encompass:

• Employing blockchain technology and encryption to establish and uphold top-tier security measures, safeguarding sensitive data and financial transactions against breaches and threats.
• Guaranteeing the utmost fairness and transparency in all gambling transactions and activities, often through smart contracts and blockchain’s immutable ledger, ensures that players can verify the integrity of games.
• Enhancing the overall user experience by providing seamless and user-friendly interfaces, reducing friction in the gaming process, and offering a more enjoyable and accessible platform.
• Expanding the gaming portfolio to cater to various player preferences and interests ensures multiple games are available to suit different tastes.
• Prioritizing innovation within the gambling industry, constantly seeking new and creative ways to engage players and offer unique gaming experiences that set new standards in quality and excitement.
• Focusing on providing a high-quality customer experience, which includes responsive customer support, quick and reliable payouts, and personalized services that cater to the needs and preferences of individual players.

Online gambling platforms are transforming, underpinned by transparency, security, and innovation principles. GambleFi platforms are leading this revolution by introducing distinct features:

• Harnessing the potential of blockchain technology to establish decentralized platforms that amplify transparency and security within the gambling sphere. This ensures that users can independently verify every transaction and game outcome.
• Implementing blockchain-based affiliate systems, which bring transparency and incentives to affiliates.

Modern gambling platforms prioritize security and reliability in a prevalent landscape of trust issues. Integrating blockchain technology not only enhances the protection of user data and funds but also contributes to a fair gaming environment.

This approach instills confidence in users, assuring them of a gaming experience of equity and trustworthiness. As a result, these platforms are at the forefront of reshaping the online gambling industry, setting new standards for user trust, fairness, and innovation.

Integrating blockchain technology into various industries has sparked remarkable advancements and transformations, and the casino industry is no exception. GambleFi platforms are at the forefront of these changes, leveraging a range of innovative features:

• Cryptocurrency Transactions: Sole use of cryptocurrencies for secure and fast betting and transactions.
• Smart Contract Games: Games are smart contracts, ensuring fairness and trust.
• NFT Collectibles: Game assets tokenized as NFTs for trading and collecting.
• DAO Governance: A blockchain-powered DAO for democratic rule-setting.
• Progressive Jackpots: Smart contracts manage transparent jackpot payouts.
• Privacy Focus: Pseudonymous transactions for player privacy.
• Low-Cost Microtransactions: Instant, cost-effective microtransactions.

GambleFi platforms are trailblazing the gambling industry’s transformation through blockchain technology, redefining traditional paradigms.

Innovative Game Mechanics

In the fast-paced gambling realm, blockchain technology has revolutionized traditional gaming mechanics, introducing transparency, heightened security, and distinctive features. In this overview, we delve into the profound impact of blockchain on the mechanics of popular games, shedding light on the enhancements it has brought about.

Slots

Traditional Mechanics: In the conventional world of slot machines, the gameplay typically involves spinning the reels, matching symbols on pay lines, and triggering features such as free spins and bonus rounds, all aimed at rewarding players.

Blockchain Impact: Players can now enjoy provably fair slots that utilize transparent Random Number Generator (RNG) algorithms stored securely on the blockchain.

Sports Betting

Traditional Mechanics: Enthusiasts place their bets on various sporting events, speculating on outcomes like the victor, final scores, or other specific in-game occurrences. Betting companies set the odds based on their assessment of the likelihood of each outcome.

Blockchain Impact: Smart contracts powered by blockchain automate the betting and payout processes, guaranteeing the fairness and integrity of betting data.

Poker

Traditional Mechanics: Poker, with its various variants like Texas Hold’em or Omaha, is a game of strategic betting and skillful card combinations where players compete to accumulate chips or money.

Blockchain Impact: Smart contracts efficiently oversee betting, pot distribution, and the enforcement of game rules. Players now can verify the randomness and fairness of the cards dealt, thereby ensuring a level playing field for all.

Dice Games

Traditional Mechanics: Players place their wagers on the dice roll, resulting in dice games.

Blockchain Impact: Integrating blockchain technology brings a new level of transparency in odds and expedites payouts through smart contracts.

Wheel of Fortune

Traditional Mechanics: Players place their bets on predicting the segment of the spinning wheel to which the indicator will point.

Blockchain Impact: Blockchain technology enables players to verify the impartiality of the wheel’s spin, enhancing trust and fairness in the game.

Summary

It’s important to emphasize that integrating blockchain technology into gambling has significantly transformed traditional gaming dynamics. This evolution brings about enhanced levels of transparency, fairness, and security for players. Blockchain technology has ushered in a new era and expanded horizons, rendering gambling a more captivating and trustworthy experience for players worldwide.

Use of Cryptocurrency Token in Gambling

Why do gambling platforms integrate cryptocurrency tokens? Let’s delve into the mechanics and utility of these tokens:

• Native tokens serve as a unified in-game currency, empowering users to actively engage in various games offered on the platform, allowing them to place bets and enhance their overall gaming experience.
• Leveraging blockchain technology, projects have established a transparent affiliate reward system, where native tokens take a central role, ensuring fairness and efficiency in the process.
• Native tokens are the primary prizes in upcoming events and promotions, including tournaments. This boosts participant engagement and elevates the overall excitement surrounding these activities.
• Using native tokens allows users to obtain discounts when purchasing advertising on the platform, fostering a mutually beneficial ecosystem for all stakeholders.

These native tokens play a pivotal role in ensuring transparency and efficiency across all facets of gameplay on platforms. A key element of GambleFi’s mechanics is the DAO, operating on the blockchain in collaboration with native token stakeholders. This DAO is responsible for defining the rules and driving casino updates.

The Role of NGR in Shaping Platform Token Value Growth

Net Gaming Revenue (NGR) is a fundamental financial indicator in the online gambling industry. It represents the total sum of bets placed by players, subtracting the total winnings distributed to them. In blockchain-based casinos, especially those leveraging cryptocurrency, NGR is pivotal in shaping the value of the casino’s native token.

It’s crucial to underscore that the cryptocurrency market is renowned for its high volatility and susceptible to numerous influencing factors. While NGR holds significance as a metric, investors should thoroughly examine the casino platform, its technological infrastructure, the team behind its operation, market demand, and broader economic variables when appraising its potential impact on token prices.

The value of a token experiences growth if the platform:

1. Demonstrates profitability and attracts players –> Increases investor confidence and demand, potentially leading to token price growth.
2. Reflects stability and reliability of the business –> Sustained token price growth due to investor confidence in the platform’s stable NGR.
3. Supports high demand and scarcity of the token –> Increased demand due to lack can lead to a higher token price.
4. Encourages the use of tokens for betting and wagering –> Increased utility and demand for tokens can lead to an increase in token price.
5. Promotes loyalty and trust among players –> A loyal community can lead to increased demand for tokens and higher prices.
6. Attracts and retains more players by improving user experience and security –> Positive changes instill confidence in investors, potentially increasing token demand and price.

GambleFi Market Analysis

We’ve embarked on an exploration of the GambleFi market, aiming to gain insights from Western analysts. To kick off our investigation, let’s delve into a tweet by Crypto Koryo, which highlights the Top 23 GambleFi tokens and Is Gamble-Fi the Next Big Thing.

• In a comprehensive dashboard hosted on Dune Analytics, the author scrutinized tokens like $DMT, $BETU, $BETS, $CC, $DG, $BAZED, $COCO, $RLB, $FUN, $BCB, $WINR, and meticulously analyzed their metrics.
• In a separate Dune Analytics dashboard, another analyst, xyn888, delved into tokens such as $RLB, $COCO, $WINR, $BCB, and $BULLET, thoroughly examining their respective metrics.

GambleFi Ecosystem Overview.

We’re committed to conducting an exhaustive analysis of the GambleFi ecosystem. In our endeavor, we will thoroughly scrutinize a range of projects, including Stake, BG Game, Rollbit, CloudBet, SX Bet, Empire, Shuffle, SolCasino, JustBit, Dexsport, Goal3, Augur, Thales, Whale, Bookmaker, Decentral Games, Azuro, FunToken, Zeitgeist, WINR, DeRace, BetDex, BetSwap, JustBet, BetSwirl, DexWin, Polkamarkets, and JetTon.

Our objective is to create the most comprehensive review of this ecosystem by leveraging all available information from various sources on the web.

Analyzing the Ecosystem of Crypto Gambling Platforms

We aim to analyze the current social and financial metrics of the leading crypto casinos and popular projects within the gambling market. As of October 10, 2023, we’ll categorize these projects into two distinct groups:

• Crypto iGaming — traditional platforms that accept cryptocurrency payments.
• GambleFi — Web3 platforms that leverage blockchain technology to build transparent and honest gambling experiences.

It’s essential to distinguish between these two categories. While the former merely incorporates cryptocurrency as a payment method, the latter, GambleFi platforms, go the extra mile to address issues related to fairness and transparency. Traditional casinos, including those offering slot games, often fall short of providing honest and transparent gaming experiences. Similarly, bookmakers in the betting industry may only sometimes operate entirely transparently. In contrast, GambleFi platforms are designed to tackle and rectify these shortcomings.

CW Labs Review of The GambleFi Ecosystem.

To analyze these metrics, you can access the detailed information via the provided link in the table on CW Labs Google Spreadsheets. There, you’ll find an in-depth breakdown of the projects.

We will use the number of site visits over one month to rank these projects obtained through the Similarweb service.

High-Performance Platforms

Stake: 1st Deposit Bonus 200% Up to $1,000

A cryptocurrency gambling platform that provides casino games and sports betting.

Category: Crypto iGaming
Native Token: N/A
Site Visits: 22,800,000
Documentation: N/A
Total Followers: 1,025,620
Twitter Score: 36

As the largest and most influential cryptocurrency gambling platform, Stake sets itself apart by offering transparency that’s simply unattainable in traditional casinos. With smart contract technology, you can effortlessly track the funds on Stake’s platform. To provide a deeper insight into the platform’s performance, we have included some key data from smart contract analytics via Dune:

• Most frequent deposits on the USDT platform.
• Total deposits reached $2,364,959,723, with 15,502,214 deposits in total.
• The average deposit per user stands at $152.56.
• The platform’s profit amounts to a remarkable $47,299,202.
• User base of 486,019 members.
• On average, users have lost $36.3 on the platform.

BC Game: Sign Up & Get Reward Up To $20,000

A community-driven cryptocurrency casino dedicated to providing players with the ultimate online gaming experience.

Category: Crypto iGaming
Native Token: N/A
Site Visits: 17,200,000
Documentation: N/A
Total Followers: 269,931
Twitter Score: 3

Established in 2017, this platform boasts over 1,000 games featuring various slot machines and real-time gaming options. The platform stands out with its commitment to open-source and Provably Fair games.

Rollbit: Bet Rakeback, Claim Daily Rewards & Rank Up Bonuses

This cryptocurrency casino operates on the Ethereum blockchain, offering various games and sports betting opportunities, NFT capabilities, and even leveraged cryptocurrency trading.

Category: GambleFi
Native Token: $RLB
Site Visits: 2,400,000
Documentation: LINK
Total Followers: 286,189
Twitter Score: 135
Blockchain: ETH, SOL
Backers: N/A
Investment Amount: N/A
Token Value: $0,13
24h Trading Volume: $3,693,000
MCap: $415,532,000
FDV: $630,149,000

Founded in February 2020 by a team of dedicated entrepreneurs who shared a profound passion for online gaming, Rollbit has become the premier cryptocurrency casino worldwide. With an impressive user base of over 1 million registered users, daily wagers averaging around $40 million, and a staggering total of over 5 billion bets since its inception, Rollbit ($RLB) has emerged as the leading token in the GambleFi category.

On June 28, they made a significant announcement regarding their migration to the Ethereum blockchain. As a testament to their success, let’s take a look at the top protocols in the crypto market by revenue in 24 hours:

• $5,700,000 — $ETH
• $1,300,000 — $RLB.
• $393,000 — $MKR.
• $274,000 — $DYDX.
• $202,000 — $SNX.

The results are in, and Rollbit has surpassed Lido Finance, with Maker holding the third position. While these developments may indicate a peak narrative, it’s essential to note that there are still profit opportunities. In just two months, the capitalization of $RLB has surged from $63 million as of June 27, 2023, to an impressive $534 million as of October 21, 2023, marking an approximate 8-fold increase. This places $RLB as the 215th most significant cryptocurrency by market capitalization, according to CoinMarketCap statistics.

With the project consistently generating over $1.3 million per day and maintaining its leadership in the GambleFi ecosystem, it’s evident that Rollbit is a significant player in the field. Their annual revenue is approximately $500 million, an impressive figure in its own right. However, it’s worth noting that this still represents only 0.1% of the total global online gambling revenue for 2023.

Considering the exceptionally high growth forecast for the online gambling industry over the next decade, Rollbit’s position as a contributor of just 0.1% of the total revenue share underscores its substantial growth potential.

What’s especially noteworthy is Rollbit’s resilience over the past few years, irrespective of market conditions. Their innovation and diverse product offerings have been crucial to this success. Whether it’s a bull or bear market, their products consistently prove profitable. This not only reflects the project’s margin of safety but also suggests its sustainability in the long term, reducing the associated risks for investors holding $RLB tokens.

In 2023, the $RLB token experienced remarkable growth, primarily attributed to its shift from SOL to ETH and the introduction of the Buy & Burn program. We provide a live dashboard with data analysis:

• Assessing the direct price impact of the Buy & Burn Tokenomics mechanism.
• Comparing SOL and ETH volume, examining the success of the migration to ETH.
• Identifying significant transactions that could influence the short to medium-term price of $RLB.

While the project has substantial room for growth, its capitalization is already relatively high. This project could also contribute to the growth of other tokens within the GambleFi sphere, a topic we’ll explore below.

CloudBet: 1st Deposit Bonus 100% Up to 5 BTC

It’s a contemporary cryptocurrency casino and betting platform that leverages the numerous advantages of digital currency.

Category: Crypto iGaming
Native Token: N/A
Site Visits: 907,600
Documentation: N/A
Total Followers: 8,628
Twitter Score: 6

Cloudbet, in operation since 2013, boasts an impressive catalog of over 70 game providers. This extensive collection is one of the most comprehensive compared to other cryptocurrency casinos, and it even encompasses in-house produced Provably Fair games.

SX Bet: $20 Free Bet & Bet Mining

Blockchain-based sports betting platform globally boasts the highest betting volume and extensive user base.

Category: GambleFi
Native Token: $SX
Site Visits: 519,600
Documentation: LINK
Total Followers: 36,606
Twitter Score: 50
Blockchain: ETH, MATIC
Backers: Hack VC, Nascent, Polygon, Sandeep Nailwal, FJ Labs, Naval Ravikant, CMCC Global, Josh Hannah, Jack Herrick, Alex Tapscott, Hart Lambur.
Investment Amount: $9,500,000
Token Value: $0,17
24h Trading Volume: $38,200
MCap: $18,060,000
FDV: $177,990,000

Users can place bets on the platform using either $USDC or $ETH through their MetaMask wallet. It functions as an exchange, enabling users to act as bookmakers by setting their odds or accepting offers from other users. With a wide selection of over 20 sports, including major leagues and various specialized bet types, the platform offers a comprehensive betting experience.

Empire: 1st Deposit Bonus 100% Up to 10,000 ₮

This crypto casino showcases many top gaming providers and offers thousands of games.

Category: Crypto iGaming
Native Token: N/A
Site Visits: 214,600
Documentation: N/A
Total Followers: 879
Twitter Score: 0

We didn’t identify any standout features on this platform, so that we won’t conduct an in-depth analysis. After visiting the site, we decided to add the project to our list. However, the low % of social media followers, which is 879, suggests that the metrics may have been artificially inflated. Visitors briefly checked the site but didn’t engage with it or sign up for social media accounts.

Shuffle: 1st Deposit Bonus 100% Up to $200

This newly established cryptocurrency online casino sets itself apart by introducing a thorough registration process, distinguishing it from most of its counterparts.

Category: GambleFi
Native Token: $SHFL (not listed)
Site Visits: 187,200
Documentation: N/A
Total Followers: 18,561
Twitter Score: 37

This casino resembles the Stake platform but enjoys the support of the Fisher8, a rather unconventional foundation with a firm grasp of betting and Web3 promotion. Rumor has it they will launch a $SHFL token, promising that the volume generated within the casino will impact the distribution of an airdrop. As a result, we are closely monitoring the project and actively participating.

If we evaluate the platform purely as a traditional casino, Shuffle could stand out better. It offers only six original games and a limited range of accepted cryptocurrencies. Notably, it lacks a sports betting section — though it’s worth noting that such a section is currently in development and planned for future release.

Here are some critical metrics we’ve gathered using the Dune Analytics:

• Unique Depositors: 8,457
• Total deposits: $23,437,285

Since September 19, 2023, there has been a significant surge in deposits on the platform, showing exponential growth. This is likely attributed to the anticipation of the $SHFL token launch and the expectation of a future airdrop. We recommend closely monitoring this project, mainly because it’s still in its early stages.

SolCasino: Get Rakeback, Claim Daily Rewards & Rank Up Bonuses

It’s a licensed platform offering live casino games, a sportsbook, and poker, all built on the Solana blockchain, and it can be accessed directly from a Web3 wallet.

Category: GambleFi
Native Token: $SCS
Site Visits: 125,900
Documentation: LINK
Total Followers: 57,167
Twitter Score: 43
Blockchain: Solana
Backers: N/A
Investment Amount: N/A
Token Value: $0,0022
24h Trading Volume: $66,100
MCap: $2,360,000
FDV: $21,900,000

Solcasino holds the title of being the most prominent casino operating on the Solana blockchain. However, due to the decreasing popularity of Solana caused by the challenges faced by FTX and Alameda Research, we see the project’s potential for growth primarily through a transition to a different blockchain and rebranding. We recommend taking a closer look at the project’s analytics using data from Dune Analytics.

Medium-Performance Platforms

JustBit: 1st Deposit Bonus 100% Up to 250 EUR

This is a recently launched online casino where you can enjoy various favorite games, whether in fiat or cryptocurrency.

Category: Crypto iGaming
Native Token: N/A
Site Visits: 65,400
Documentation: N/A
Total Followers: 1,604
Twitter Score: 0

This project is relatively new and has seen limited social activity thus far. We’ll continue to monitor its progress closely.

Dexsport: VIP Cashback

This is a Web3 sports betting protocol deployed on the Binance Smart Chain.

Category: GambleFi
Native Token: $DESU
Site Visits: 47,300
Documentation: LINK
Total Followers: 76,185
Twitter Score: 4
Blockchain: BNB
Backers: DAO VC, BSC Pad, Black Dragon, DEXT Force, YAY Games, Blue Moon, Kanga Games, Super Launcher, MaZee, GroundZero, YOSU, SYN.
Investment Amount: $2,660,000
Token Value: $0,0039
24h Trading Volume: $300
MCap: $403,000
FDV: $3,909,000

In 2021, the project managed to secure a significant amount of investment. However, its current demand is relatively low. With minimal social activity and trading volume, the project needs to capture the interest of retail investors.

Goal3: Bet $100 to Activate your Referral Code

It’s not just a betting platform; it’s a groundbreaking experience that seamlessly merges the potential of blockchain technology with the speed and efficiency of the zkSync Era.

Category: GambleFi
Native Token: N/A
Site Visits: 46,400
Documentation: LINK
Total Followers: 109,288
Twitter Score: 8

With Goal3, users can place bets on various sports events, from mainstream to niche markets, with competitive odds and no compromises. What distinguishes Goal3 is its decentralized and autonomous betting marketplace, driven by an AMM algorithm that establishes odds and lines based on market demand.

Thanks to the security and transparency of blockchain technology, users can relish a truly seamless betting experience accessible to all, anytime and anywhere. We are closely monitoring the platform’s development and strongly recommend exploring it.

How can you earn on this project? You can acquire a referral link from someone who provides it to you. Given that this project operates on zkSync and you’re still utilizing the platform for potential airdrops, here’s another method for network use.

You can start by depositing 100 zkUSD and placing them on any matches, mainly targeting soccer matches with a 10 zkUSD wager on a draw. You will receive a referral link to share with a friend or create additional accounts within your network. For each person you invite, the people they bring in will also be counted in your referral network.

Augur: Provide Liquidity

It’s a decentralized prediction market platform compatible with Ethereum and the Ethereum Virtual Machine.

Category: GambleFi
Native Token: $REP
Site Visits: 40,700
Documentation: LINK
Total Followers: 169,317
Twitter Score: 457
Blockchain: ETH
Backers: George Burke and Alexis Berthoud.
Investment Amount: $10,000,000
Token Value: $0,54
24h Trading Volume: $315,700
MCap: $5,946,000
FDV: $5,946,000

Founded in 2014 and launching its initial version in 2018, Augur has undergone significant development efforts, including three major releases. 2020 Augur v2 was introduced, featuring DAI as the trading currency and a Peer-to-Peer order book mechanism, leveraging 0x’s Mesh technology.

However, when examining on-chain metrics, we observe limited platform activity. On Dune, most dashboards have been updated over three years ago. The project’s seed round dates back to 2015.

Although the project maintains a notably high Twitter Score of 457, social activity surrounding the project remains relatively low. The platform may no longer experience user growth, potentially leading to declining revenue, which may not support the long-term growth of the project’s native token.

Thales: Provide Liquidity

The protocol offers an automated, oracle-based liquidity solution, enabling the creation of various on-chain position markets.

Category: GambleFi
Native Token: $THALES
Site Visits: 37,400
Documentation: LINK
Total Followers: 27,029
Twitter Score: 55
Blockchain: Optimism
Backers: Flamework, Apollo, The LAO, LD, IOSG, Zee Prime, D64, Koji.
Investment Amount: $2,500,000
Token Value: $0,32
24h Trading Volume: $106,800
MCap: $15,790,000
FDV: $32,310,000

Thales Protocol remains at the forefront of innovation, consistently introducing more advanced trading products, like the AMM. The platform offers engaging community-based games such as Thales Royale. It pushes the boundaries by incorporating sports data on-chain through the development of the world’s first SportsAMM and ParlayAMM solutions.

We recommend delving into this project as it holds significant promise. You can find project analytics via the link provided on Dune Analytics. Key metrics include:

• A registered user base of 16,815 traders.
• Over 79,255 executed trades in total.
• An impressive total trading volume of $20,906,515 on the platform.

Whale

It’s the online casino and sports betting platform on the TON Blockchain, seamlessly integrated into Telegram.

Category: Crypto iGaming
Native Token: N/A
Site Visits: 31,100
Documentation: LINK
Total Followers: 24,888
Twitter Score: 0

The platform offers a diverse selection of over 100 games, exciting weekly leaderboards, and more. Its seamless integration into Telegram sets it apart, enabling users to fund their accounts via the recently added TON Wallet feature.

We appreciate the platform’s choice of Telegram Forum as a hub for community communication and announcements. This decision effectively replaces the need for other social networks such as Discord, Twitter, and Reddit.

We’re genuinely excited about the emerging trend of apps integrated into Telegram and believe it represents the future. Casino platforms built on the TON blockchain with TON Wallet integration are currently a trend we’re closely monitoring, especially considering the TON Foundation’s development grants and the ongoing expansion of the ecosystem. We’ll delve deeper into The Open Network (TON) in the following section.

Bookmaker

This is the ultimate on-chain betting platform developed on Azuro, characterized by its absence of logins, bans, or restrictions.

Category: GambleFi
Native Token: N/A
Site Visits: 30,100
Documentations: LINK
Total Followers: 20,277
Twitter Score: 8

Bookmaker is the pioneering platform operating on Azuro, a groundbreaking protocol for decentralized betting. We’ll provide more details on Azuro shortly.

In contrast to traditional betting shops, where you must deposit money to place a bet, Bookmaker eliminates the need for depositing or withdrawing funds. When you make a bet, your funds are secured within smart contracts with predefined outcomes. Once the game or event concludes, the smart-contract lets you claim your winnings, provided you emerge as the victor.

We’ve thoroughly reviewed the project by analyzing its metrics on Dune Analytics. Key statistics include:

• A total of 3,610 bets were placed on the platform.
• The cumulative value of bets made reached $56,298.
• The average bet size was $16.
• The largest bet placed amounted to $897.
• The GGR stands at -$184.

Decentral Games: 1st Deposit Bonus 100% Up to 100K ICE

World’s first casino in the metaverse. Immerse yourself in the excitement of blackjack, roulette, and poker, all from the convenience of your own home.

Category: GambleFi
Native Token: $DG
Site Visits: 28,800
Documentation: LINK
Total Followers: 162,955
Twitter Score: 121
Blockchain: Ethereum, Polygon
Backers: Decentraland Foundation, Matic Foundation, GVB, Bitscale, Collab+Currency, ID Theory, AU21, Metaverse, Cluster.
Investment Amount: $5,400,000
Token Value: $0,13
24h Trading Volume: $98,000
MCap: $9,865,000
FDV: $13.402,000

Decentral Games Casino is the inaugural casino in the metaverse, where all your favorite casino experiences are just a click away. With a simple button, you can dive into the thrill of your preferred games, engage with cryptocurrency, savor live entertainment, and connect with fellow enthusiasts without leaving your home.

Explore the Messari: Decentral Games Macro Financial Statements report via the link provided on Dune Analytics.

Azuro: Earn Azuro Score

The infrastructure and liquidity levels of on-chain betting and gambling.

Category: GambleFi
Native Token: $AZUR (not listed)
Site Visits: 28,800
Documentation: LINK
Total Followers: 45,971
Twitter Score: 30

Azuro employs a novel Liquidity Pool design called the ‘Liquidity Tree’ to establish and sustain market liquidity. The platform supports thousands of sports markets and diverse games, offering a rich feature set that individuals can harness without permission. This flexibility allows for the creating of various applications, embedded integrations, or derivative products.

For an in-depth look at project metrics, you can explore the data via the link to Dune Analytics, which aggregates information from Polygon, Gnosis, and Arbitrum. Key metrics include:

• Total bets placed: $15,154,903.
• Total number of bets: 272,790.
• Total Value Locked (TVL): $4,271,802.
• A community of 15,807 unique users on the platform.

Within the platform, you’ll find an Azuro Score tab, pivotal in generating revenue for Azuro Score through all bets placed on Bookmaker. This represents the initial opportunity to earn $AZUR tokens. Following the launch of the $AZUR token, Azuro Score points will be seamlessly converted into $AZUR tokens.

The Azuro Score program is designed to foster active community involvement and add substantial value to Azuro, thus reinforcing its position as a vital decentralized betting and gambling infrastructure. This program is strategically structured to establish the foundations for a robust decentralization of Azuro’s ecosystem and governance.

We encourage you to participate in the Azuro Score program and seize the opportunity to earn project tokens. You can find more detailed information under Azuro Score and Refer a Friend here.

FunToken

The number one gaming token worldwide, empowering users globally by unlocking enhanced economic opportunities and tokenizing value.

Category: GambleFi
Native Token: $FUN
Site Visits: 28,500
Documentation: LINK
Total Followers: 55,096
Twitter Score: 3
Blockchain: Ethereum
Backers: Pantera Capital, KR1, Blocktower Capital.
Investment Amount: $15,000,000
Token Value: $0,004
24h Trading Volume: $853,000
MCap: $46,600,000
FDV: $46,661,000

Let’s delve into the primary objectives the company addresses:

• Pioneering groundbreaking cryptocurrency gaming solutions for the global gaming community.
• FUNToken is rolling out these innovative solutions in over 100 countries worldwide.
• A decentralized team fueled by a passion for crafting top-tier cryptocurrency and gaming solutions remains compact and highly skilled. This approach enables them to create technology that is both sustainable and scalable.
• Leveraging blockchain technology, FUNToken offers game operators, players, and developers the benefits of game transparency and integrity, along with seamless integration with the world’s leading cryptocurrency gaming solutions.
• XFUN and FUN tokens maintain a 1:1 ratio and can be stored and exchanged using the XFUN wallet.

While our token exhibits commendable liquidity and trading volume, with support from prominent backers and a substantial sum raised during the seed round of 2017, we’re continually exploring newer projects. Let’s press on.

Zeitgeist

It’s a prediction markets protocol developed on the Polkadot network with a mission to steer humanity toward truth and progress.

Category: GambleFi
Native Token: $ZTG
Site Visits: 26,800
Documentation: N/A
Total Followers: 38,135
Twitter Score: 30
Blockchain: Polkadot
Backers: Genblock, D1, AU21, A195, 4SV, Blocksync, Digital Renaissance, Brilliance, KR1, Longhash, Scytale, IconPlus.
Investment Amount: $15,720,000
Token Value: $0,03
24h Trading Volume: $19,100
MCap: $262,680
FDV: $3,360,000

Zeitgeist has introduced an app that enables users to make diverse predictions across numerous markets and allows them to create their own needs, offering a comprehensive SDK for software developers. Alongside its extensive prediction market features, Zeitgeist has ambitious plans to integrate a futarchic form of governance into its blockchain protocol.

When we assess the trading volume, it’s evident that the token has not gained significant popularity among traders and investors despite the considerable investment raised in 2021. Therefore, we are shifting towards exploring younger solutions on other liquid blockchains.

Low-Performance Platforms

WINR: Provide Liquidity

This entirely autonomous liquidity and incentive infrastructure operates on the WINR Chain, explicitly tailored for on-chain games requiring a counterparty asset repository.

Category: GambleFi
Native Token: $WINR
Site Visits: 19,600
Documentation: LINK
Total Followers: 36,012
Twitter Score: 11
Blockchain: Arbitrum
Backers: N/A
Investment Amount: $2,864,641
Token Value: $0,035
24h Trading Volume: $155,300
MCap: $7,054,000
FDV: $35,874,000

The WINR protocol has been a trailblazer in driving iGaming’s transition to Web3, equipping developers with smart contract tools, a liquidity mechanism, and a robust incentive system.

The protocol’s native token, $WINR, incentivizes developers, liquidity providers, and players. $WINR’s holders receive a share of the revenue generated by platforms constructed on the protocol, facilitated by a unique bribe mechanism. You can access the project’s dashboard via the provided link on Dune Analytics.

The inaugural project established on the WINR platform is Justbet, a decentralized casino offering a rapid and tamper-proof gaming experience.

DeRace: Single Staking

This pioneering, decentralized, blockchain-based horse racing platform unites millions of horse racing enthusiasts within a community. LINK

Category: GambleFi
Native Token: $DERC
Site Visits: 15,100
Documentation: LINK
Total Followers: 318,021
Twitter Score: 30
Blockchain: Polygon
Backers: Animoca Brands, LD Capital, DAO Maker, DWeb3 Capital, Kyros Ventures, Raptor Capital, ReBlock, Metrix Capital.
Investment Amount: $2,080,000
Token Value: $0,15
24h Trading Volume: $421,800
MCap: $17,416,000
FDV: $19,096,000

DeRace is the world’s premier virtual horse racing universe, with a rapidly expanding market potential of $700 billion. It seamlessly amalgamates elements of video games, gambling, and sports. In this unique space, you can purchase and breed NFT horses, take charge of races at racetracks under your ownership, and concurrently generate real profits.

We invested in this project in 2021. The token’s value has substantially declined from its all-time high, and on-chain metrics are notably lackluster. Nevertheless, we are genuinely drawn to the project’s concept, especially the user experience. The project’s debut took place on the DAO Maker Launchpad, and a portion of the NFTs were made available on Binance NFT. For a comprehensive view of the project’s metrics, you can visit the link on Dune Analytics, where, for instance, you’ll find there are 1,596 unique holdings on the platform, encompassing a total of 8,682 NFTs.

BetDex: Risk-Free First Bet

It’s a worldwide decentralized sports betting exchange underpinned by the Monaco Protocol.

Category: GambleFi
Native Token: N/A
Site Visits: 14,500
Documentation: LINK
Total Followers: 26,613
Twitter Score: 54

The BetDex exchange was officially inaugurated on the Solana mainnet on November 17, 2022, synchronizing with the commencement of the 2022 FIFA World Cup. It’s a platform with a visionary mission to transform sports betting, utilizing the Monaco Protocol and Solana to establish a decentralized sports betting exchange.

This exchange operates as a peer-to-peer marketplace, bringing together traders who can engage in cryptocurrency-based trading of their opinions regarding diverse sports outcomes.

BetSwap

A decentralized betting exchange facilitates the connection between bettors and bookmakers via an order book system.

Category: GambleFi
Native Token: $BSGG
Site Visits: 14,300
Documentation: LINK
Total Followers: 35,647
Twitter Score: 11
Blockchain: MATIC, FTM, POLYGON, BNB, AVAX.
Backers: Shima Capital, Wonderland, Momentum 6, DSA Investments.
Investment Amount: $18,330,000
Token Value: $0,0018
24h Trading Volume: $100,200
MCap: $4,940,000
FDV: $18,360,000

Betswap is committed to bringing the realm of sports betting to the blockchain. Its mission is to offer users an engaging, equitable, and transparent ecosystem. Sports betting enthusiasts can engage with the platform, participating in betting by choosing whether to be a bettor or bookmaker.

In contrast to traditional sports betting, where wagers are made against the betting house, Betswap employs a peer-to-peer system. Here, you place bets against other users, and the exchange serves as an intermediary, accepting your wagers.

JustBet: Single Staking

Developed by WINR Labs, this platform is a decentralized casino that offers a rapid and tamper-proof gaming experience.

Category: GambleFi
Native Token: N/A
Site Visits: 14,000
Documentation: LINK
Total Followers: 51,200
Twitter Score: 14

We discovered an insightful dashboard for Justbit on Dune Analytics and highly recommend exploring it. Despite having a user base of 1,592 unique users, we recognize the platform’s potential, particularly considering its development by WINR Labs, which we discussed earlier.

TG Casino: 1st Deposit Bonus 200% Up to 10 ETH

A fully licensed and secure casino that exclusively operates within the Telegram platform.

Category: GambleFi
Native Token: $TGC (not listed)
Site Visits: 12,500
Documentation: LINK
Total Followers: 9,256
Twitter Score: 1

Recognizing the inherent strengths of cryptocurrency and Telegram’s unparalleled potential as a platform, this casino aims to redefine the online gambling experience. It goes beyond simply offering games in a new environment; it’s reshaping the economic landscape of casino gaming by introducing $TGC. This token isn’t just a currency; it’s a commitment to our users, promising rewards, benefits, and a tangible stake in the casino’s success.

Arguably, it is one of the most extensive and outstanding casinos integrated into Telegram that utilizes cryptocurrency payments. The official website indicates they’re in a presale for the $TGC token, having already raised $1,275,064 from their $2,500,000 goal. You can verify this information via the Etherscan smart contract link. This project warrants close observation. In the subsequent section, we’ll elaborate on why we find casinos with a business model that integrates with Telegram and employs cryptocurrency payments impressive.

BetSwirl: Single Staking

This online cryptocurrency gaming platform is entirely decentralized and offers complete anonymity.

Category: GambleFi
Native Token: $BETS
Site Visits: 8,200
Documentation: LINK
Total Followers: 27,068
Twitter Score: 11
Blockchain: ETH, BNB, MATIC, AVAX, ARB.
Backers: N/A
Investment Amount: $279,000
Token Value: $0,0004
24h Trading Volume: $100
MCap: $1,880,000
FDV: $3,720,000

BetSwirl is reshaping the landscape of GambleFi in the realm of Web3 while also infusing transparency into the gambling world. It’s where anyone can engage in fair play, experience enjoyment, and revel in an innovative gaming experience. This project is constructed on the Azuro platform, and you can explore the project’s metrics on Dune Analytics.

DexWin: Get Rakeback, Claim Daily Rewards & Rank Up Bonuses

It’s a trustworthy and thrilling decentralized sports betting platform. Built on blockchain technology, it offers seamlessness, transparency, and a foundation of trust.

Category: GambleFi
Native Token: N/A
Site Visits: 8,200
Documentation: LINK
Total Followers: 1,555
Twitter Score: 0

The platform is in its early stages, and we intend to monitor its progress closely. It’s constructed on the Azuro foundation, and for in-depth insights, you can explore the project metrics on Dune Analytics. Notable key metrics include:

• Total number of bets: 4,457.
• Unique users: 757.
• Total payouts: $94,515.

Polkamarkets: Provide Liquidity

It’s a prediction marketplace that leverages DeFi and Polkadot technology.

Category: GambleFi
Native Token: $POLK
Site Visits: 6,700
Documentation: LINK
Total Followers: 115,176
Twitter Score: 43
Blockchain: Polkadot
Backers: Morningstar, NGC, Moonrock, Astronaut, Spark.
Investment Amount: $1,340,000
Token Value: $0,021
24h Trading Volume: $174,000
MCap: $2,052,000
FDV: $2,108,000

Polkamarkets aims to resolve these challenges by incentivizing liquidity providers and traders, encouraging them to engage in and hold significant positions. The curation and settlement system further enhances the efficiency and reliability of the markets.

The project could rebound if it transitions to a more liquid blockchain. Otherwise, we need plans to conduct a more comprehensive analysis of the project in 2023.

JetTon

It’s an innovative gaming platform powered by blockchain technology, providing a distinctive gambling experience seamlessly integrated into Telegram.

Category: GambleFi
Native Token: $JETTON
Site Visits: 1,100
Documentation: LINK
Total Followers: 12,449
Twitter Score: 0
Blockchain: TON
Backers: N/A
Investment Amount: N/A
Token Value: $0,76
24h Trading Volume: $1,800
MCap: N/A
FDV: N/A

The project’s core objective is to establish a secure and transparent environment where players can gamble, place bets, and win with their cryptocurrency, $JETTON.

This platform addresses trust, security, and industry limitations by introducing innovative solutions, including decentralization, a transparent reward system, and seamless integration with the Telegram messenger.

Summarize

These projects offer just a glimpse into the ever-expanding GambleFi universe. This thriving industry is marked by continuous innovation, with new projects emerging regularly, each striving to provide users with a distinctive and captivating experience. However, as with any investment in the cryptocurrency space, it’s crucial to exercise due diligence and conduct thorough research before venturing into this domain.

When considering an investment in GambleFi, factors such as the project’s team, the quality of its product, and the strength of its community should take precedence. A robust and experienced team with expertise in both gaming and cryptocurrency is often a promising indicator. Furthermore, a project’s merits can be seen through a well-designed, user-friendly product with a unique value proposition.

An active and engaged community that shares the project’s vision is a valuable asset, as it can significantly contribute to its growth and success. As GambleFi evolves, prudent decision-making and responsible investments will be pivotal in navigating this dynamic and exciting landscape.

Gambling Integration in Telegram

Telegram unveiled its ambitious plans to broaden its user base at the Token2049 Singapore conference, attended by the CW Labs team. The current audience of this widely-used messaging platform consists of 800 million active users. Within 3–5 years, the company aims to reach a remarkable milestone of 1.5 billion active users.

Telegram currently ranks among the world’s top five most popular messengers in terms of audience size. The platform witnesses a daily influx of 2.5 million new user registrations. Telegram’s audience has been expanding by over 40% annually since 2013.

Telegram Messenger Audience.

This confident projection is well-founded due to the platform’s global presence and consistent growth trajectory. Telegram’s user base spans various continents, with a significant portion hailing from Asia, Europe, North America, and South America.

An especially intriguing facet of Telegram’s development strategy involves its collaboration with the TON Foundation. This partnership is designed to stimulate interest in Web3 projects and envisions that roughly 30% of Telegram’s audience will evolve into active DeFi users. Integrating DeFi applications into the Telegram ecosystem is anticipated to grant users effortless access to an array of blockchain-based financial services and applications, thus promoting innovation and accessibility in the ever-evolving realm of cryptocurrencies and decentralized technologies.

TON Foundation’s Plans for Onboarding Telegram’s Audience at TON.

Here are some notable statistics supporting this assessment from Inclient:

• In Russia, 41% of the population uses Telegram daily.
• Telegram is most frequently downloaded in Russia and India.
• Telegram’s user base consists of 58.1% men and 41.9% women.
• The combined audience of the fifty largest Telegram channels exceeds 100 million subscribers.
• Across the six largest CIS countries, Telegram channels and chat rooms engage a staggering 4.5 billion users.
• The most prevalent topics in Telegram include news (82%), followed by entertainment and politics (59%), and education (55%).
• Users spend an average of 4 hours and 44 minutes monthly within the messenger.
• Approximately 69% of Telegram channel administrators earn revenue through advertising, 38% generate income by selling goods or services, and 15% gain from affiliate programs.
• Since 2021, there has been a sevenfold surge in demand for acquiring subscribers on Telegram.
• Telegram ranks 10th among the most popular social networks.

It’s clear from this analysis that projects integrating with Telegram have the potential to be influential drivers of industry growth in 2024. This is primarily attributed to the messenger’s user-friendly interface and massive monthly active user (MAU) base of 800 million.

Integrating with Telegram offers a significant opportunity for projects to access this vast and engaged user base, making it a promising platform for driving industry advancements in the coming year.

Utilizing the TON Blockchain

The Open Network (TON) is a decentralized, open internet platform with various components. These components encompass the TON Blockchain, TON DNS, TON Storage, and TON Sites. The TON Blockchain is the fundamental protocol that unifies the underlying TON infrastructure into a cohesive ecosystem.

TON emphasizes achieving extensive cross-chain interoperability while functioning within a highly scalable and secure framework. It is purpose-built to handle a remarkable number of transactions per second (TPS), potentially accommodating hundreds of millions of users.

The TON blockchain comes with several notable advantages:

• TON is known for its exceptional speed and efficiency, facilitating instant and secure transactions. Its high throughput allows many transactions to be processed quickly, making it well-suited for various applications.
• TON prioritizes data security and employs robust cryptographic algorithms to protect transactions and data. This commitment to safety ensures that user information remains safe and confidential.
• TON technology is designed to create a decentralized environment, ensuring transparency and eliminating control by central authorities. This decentralization aligns with the core principles of blockchain technology, where power is distributed among a network of nodes rather than being concentrated in a single entity.

These advantages make TON a promising platform for a wide range of applications, particularly those that demand speed, security, and decentralization.

TON Blockchain Key Metrics.

The specifications of the TON blockchain highlight its impressive capabilities:

• TON can process a remarkable 55,000 transactions per second (TPS). This high throughput is essential for handling a large volume of transactions swiftly and efficiently.
• Transactions on TON have a lock time of 5 seconds, indicating the time it takes for a transaction to become confirmed and immutable.
• The time required for a transaction to be completed on TON is speedy, typically taking 6 seconds or even less. This rapid transaction speed enhances the user experience and enables quick settlement of transactions.
• TON supports the operation of up to 260 shard chains within a single worker chain. Shard chains are subchains that help distribute the processing load, improving scalability and performance.

These specifications underscore TON’s capacity to handle many transactions with minimal latency, making it a compelling platform for various decentralized applications.

The choice of the TON blockchain by various projects can be attributed to several compelling reasons:

• The TON blockchain was initially developed by Telegram’s experienced team, offering a robust and reliable foundation for projects.
• TON’s scalability is a key factor that attracts projects. Its capacity to quickly scale accommodates a vast user base, potentially reaching billions of users.
• The growing integration between TON and Telegram is a significant advantage. This tight integration ensures a seamless user experience, making it easier for Telegram users to access and engage with TON-based applications and services.
• The native TON Wallet embedded within Telegram enhances the user experience by integrating cryptocurrency features directly into the messenger platform.

The substantial growth in active TON users over the past year, with a 520% increase, underscores the platform’s potential and appeal in the blockchain space. As a result, decentralized platforms built on the TON Blockchain, integrated into Telegram, and able to use TON Wallet or Tonkeeper are seen as a prominent trend and hold promise for the industry in 2024.

Some useful links:

• TON Official Website — TON Ecosystem — Wallets on TON.
• Stablecoins wrapped from TON Bridge: jUSDT, jUSDC, jDAI.
• Stablecoins wrapped from Orbit Bridge: oUSDT, oUSDC, oDAI.
• TON Foundation — TonCoin Foundation — TOP Foundation — TON grants.

Advertising the Gambling Platform on The TON App.

The growth and development of the TON blockchain ecosystem in the gambling sector are impressive. With a current count of 34 gambling platforms within the TON ecosystem, it’s evident that the blockchain is becoming a hub for innovative and decentralized gambling experiences.

Projects like TG Casino, Whale, and JetTon, built on the TON blockchain and integrated with TON Wallet, are exciting. The close integration with Telegram and the use of TON Wallet make these platforms more accessible and user-friendly for the vast Telegram user base.

The active involvement of the TON Foundation in providing development grants further supports the expansion and innovation within this ecosystem. The TON blockchain is poised to play a significant role in the future of blockchain-based gambling, and keeping a close watch on these developments is a wise strategy. The synergy between blockchain technology and Telegram’s extensive user base offers a unique and promising opportunity for the gambling industry in 2024 and beyond.

How to Capitalize on The GambleFi Trend?

Method 1.

Our initial step involved purchasing 15 coins from the GambleFi market in equal shares. We established our GambleFi Index and intend to adhere to index investing, steadily expanding our position while introducing new project tokens. It’s crucial to emphasize that this endeavor is primarily an experiment on our part and should not be regarded as investment advice. We will diligently monitor the metrics and provide updates through our social channels. Here are the values at the time of purchase:

• $WINR: $0,037.
• $THALES: $0,319.
• $BSGG: $0,0019.
• $DG: $0,0132.
• $SX: $0,185.
• $ZTG: $0,03.
• $JETTON: $0,734.
• $DESU: $0,0039.
• $BETS: $0,00042.
• $POLK: $0,022.
• $REP: $0,488.
• $DERC: $0,149.
• $FUN: $0,0041.
• $RLB: $0,148.

GambleFi Index Analytics in a Portfolio on the Dropstab Platform.

Method 2.

In this approach, we’re focusing on acquiring Rollbit ($RLB) and investing in it using a Dollar-Cost Averaging (DCA) strategy. This entails purchasing equal installments at consistent time intervals. We’ve thoroughly reviewed and analyzed this project in the sections above. Our belief in its growth potential is rooted in its ability to generate substantial profits relative to other cryptocurrency projects. We remain optimistic about its prospects when combined with its tokenomics and the burning of $RLB tokens. It’s crucial to emphasize that our assessment should not be construed as investment advice.

Method 3.

This method involves actively seeking out early-stage projects and making investments in them. Our initial focus would be on infrastructure projects, such as Azuro (which does not have its token), Thales, and the WINR Protocol. These projects hold the potential to form the bedrock of the GambleFi ecosystem. It’s worth considering young projects with relatively low market capitalization or even those that have yet to make their public round if the opportunity arises to invest in seed or private rounds. It’s important to emphasize that our considerations should not be construed as investment advice.

Method 4.

This strategy involves actively identifying projects that are conducting IDO or IFO. We would diligently research projects gearing up for a public fundraising round, carefully analyze them, and consider making investments, ideally across multiple accounts. It’s essential to underscore that our actions should not be considered investment advice.

Method 5.

In this approach, we focus on investing in gambling projects that operate on TON or are integrated into the Telegram platform. Our process involves meticulous research into projects incorporating Telegram into their marketing strategies. We view projects like TG Casino, JetTon, and Whale (which currently doesn’t have its token) as having significant promise. However, it’s imperative to underline that our considerations should not be interpreted as investment advice.

Method 6.

Referral Links. For those with experience in driving traffic or a significant influencer presence, an avenue for consideration is directing traffic to gambling projects and earning a percentage in return. Alternatively, if you possess the requisite expertise, you can explore the role of an affiliate manager in this domain.

Method 7.

Lastly, the most unconventional approach involves practices like multi-accounting, airdrop, and retrodrop abuse. Our comprehensive article titled “Multi Accounting: Crypto Activity Guide” delved into this subject extensively. Many are aware that projects are often willing to distribute project tokens as retrodrops to early or active platform participants.

Some platforms reward activity with project tokens, for instance, Azuro. Furthermore, there have been announcements from projects like Shuffle, signaling the imminent launch of their tokens. Goal3 also falls into this category of projects.

If you’ve thoroughly reviewed our project analyses above, you already know which projects are most suitable for active participation. Below, we’ll briefly overview what’s required for engaging in activity abuse and multi-accounting.

A Brief Guide to Multi-Accounting

Multi-accounting — creating substantial accounts to expand activity across various domains within the cryptocurrency sphere. This can encompass multiple activities, including engaging in testnets, participating in airdrops, retrodrops, ambassador programs, and more.

Abusing — the repetitive execution of specific, straightforward actions to obtain rewards, such as airdrop tokens, to generate subsequent profits.

These methods require consistent activity on various gambling platforms to qualify for airdrops or retrodrops (as described in Method 7). To effectively engage in these practices, you’ll need a few essential tools and resources, which include:

• Anti-Detection Browser.
• Proxy Servers.
• Metamask Wallets.
• Email Accounts.
• Social Network Accounts (Twitter and Discord).
• CEX for Deposit Using Sub-Accounts.

Let’s delve into each item, understanding their purposes, how to register and organize them, along with some helpful tips, where to purchase accounts if needed, and how to expedite the process.

Anti-Detection Browsers

Anti-detection browsers — specialized applications designed to manipulate browser fingerprints, allowing for a tailored and unique browsing experience. When it comes to selecting an anti-detection browser, we offer the following recommendations:

• Dolphin Anty — is our preferred choice among the available anti-detection browsers. It boasts ten optional browser profiles, offering extensive versatility for your needs.

Dolphin Anty Review.

• ADS Power — noteworthy anti-detection browser in the field. While it offers a reliable browsing experience, it’s important to note that its capabilities are somewhat constrained due to the provision of only two additional profiles.

ADS Power Review.

Proxy Servers

A proxy server is an intermediary between an internet user and the servers from which information is requested. Essentially, a proxy acts as a filter, a gateway between an individual and the vast data available on the internet.

Simply put, you might be physically located in Russia, but when you access a website through a proxy, that website will perceive your location as Australia. Proxies are often employed to circumvent a site’s anti-fraud systems, which might detect the creation of multiple accounts from a single user.

Now, let’s explore the services we utilize and recommend for procuring these proxies:

• Proxyline — a platform we rely on for proxy services and have found it the best choice for our requirements.

Proxyline Review.

• Proxy6 — another service within the realm of proxy servers. The choice between proxies ultimately depends on your individual preferences and specific requirements.

Proxy6 Review.

• Proxys — an additional service with a unique set of features and advantages.
• ProxySale — another service we recommend, thus completing our selection of proxy sources.

Once you have acquired your proxies, the next step is to integrate them into your anti-detection browser. Simply add the proxies to each browser profile as needed.

Metamask Wallets

If you want to create only 10 wallets, doing this manually is advisable. Open each browser individually, and download and install the Metamask extension. Create a unique password for each wallet, and carefully note the associated seed phrase.

If the task involves creating more than 10 wallets, we recommend using the Cointool service:

1. Visit the website and locate the “Batch Wallet Generate” feature.
2. Select the desired network.
3. Input the number of accounts you need to generate and click “Export”. Ensure that your computer is disconnected from the internet during this process.
4. Carefully record the obtained information in an Excel spreadsheet.

CoinTool Review.

Social Network Accounts (Gmail, Twitter, and Discord)

To complete account registrations, it’s essential to have email accounts, and you must maintain access to these emails. To maximize the utility of your emails for various activities, we recommend investing in high-quality and widely recognized email providers. Popular foreign email services like Hotmail, Outlook, and Yahoo can be viable options. However, our top recommendation is Gmail.

Furthermore, you’ll require Twitter and Discord accounts. For convenience and efficiency, consider purchasing these accounts from trusted platforms such as:

• ACCS Market — a user-friendly platform offering a diverse range of mail and social network accounts, with the added convenience of cryptocurrency payment.
• DarkStore — a similar service specializing in account sales.
• InstallShop — another reliable platform for purchasing accounts.

If accounts require SMS confirmation, you can utilize SMS-Activate to address this requirement.

ACCS Market Review.

CEX for Deposit Using Sub-Accounts

Also, register via our OKX link. Why OKX? The exchange stands out for its high trading volume, a growing number of users, and reliability, especially against the background of recent problems with Binance for Russian citizens. We have been using the exchange for a long time and appreciate OKX for its low commissions, high liquidity, fast transactions, and user-friendly interface, but the main feature is the ability to use sub-accounts. Few exchanges support the creation of sub-accounts, and our journey began with FTX. However, after the collapse of FTX, we switched to OKX, which is perfect as an exchange for Sybils.

How do you eliminate the chance of a project deciding you’re a retrohunter? The key point in multi-accounting is to avoid crossing wallets and use sub-accounts, where the exchange provides different addresses for input, but the money is stored in one place. And this is where OKX comes to the rescue.

Result

We’ve compiled all the necessary tools and steps to engage in various activities involving multiple accounts effectively. If you plan to utilize multi-accounting, we recommend creating a dedicated Excel spreadsheet to document your activities meticulously. Stay vigilant on social media channels for project announcements. With this knowledge, you can create multiple accounts and engage in activity abuse across different activities.

Google Excel Spreadsheet Template.

Conclusion

This article aims to provide the most comprehensive overview of the GambleFi ecosystem. It enriches your understanding and equips you to make informed decisions in this market, potentially capitalizing on its opportunities.

If you’ve found our efforts valuable, we invite you to show appreciation by subscribing to our social media channels. This will ensure you stay informed about the latest updates and relevant information.

We remain committed to conducting ongoing research into the GambleFi ecosystem. We aim to provide valuable insights and information to empower you to make informed decisions and capitalize on this dynamic market. Your participation and support mean a lot to us. We genuinely appreciate it!

CW Labs | Linktr | Twitter | Database

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