Place/Date: Curacao - February 6th, 2020 at 8:54 pm UTC · 4 min read
As the Corona Virus continues its spread across China, potentially on the verge of reaching pandemic status, many industries are being negatively impacted, all except one: Online Gambling.
On Tuesday the Chinese Government closed every casino in Macau for a minimum of two weeks following confirmation of the virus reaching the city. Macau is the largest gambling destination in the world, dwarfing Las Vegas with average revenues of $3.5 Billion dollars a month. To put the closure into context this is the equivalent of the whole of Las Vegas being closed for over 6 weeks and depending on the spread of the virus could be extended further.
Even up to the closure many dedicated gamblers were still taking the chance to head out to Casinos despite the potential risks. It’s hard to overstate the impact on the industry. This unprecedented level of pent up demand has only one safe place to go: online. According to Reuters, this is already happening with downloads of video games spiking as people stay at home to pass the time and spend triple the amount of time on their phone than usual.
With young and old effectively housebound together, never have the two generations spent so much time together. Tech-savvy Chinese millennials are excited about blockchain and all around the country having conversations about the technology as they spend the most time with their family since their early childhood.
For the blockchain gaming industry, this is no less than a perfect storm and great news for WINk: the most popular legal gambling Dapp in the world and the only one with two gaming licenses from both Curacao and Costa Rica.
Similar to the early days of the internet, gambling is one of the first large scale uses of blockchain and the only use case that has achieved widespread traction to date.
According to Dapp Review’s annual report, WINk was the most successful Casino Dapp in 2019 with annual transactions of over $2.8 Billion dollars. Over 60% of the value transferred on Trons entire blockchain was through WINk and with two-thirds of the platform being non-decentralized and only recording deposits and withdrawals (Live and Poker) the amount is likely much higher. This is a phenomenal amount considering it’s all been achieved without marketing.
In 2020 this is due to change as outlined in their recently updated roadmap. The document outlines the site’s aggressive plans for growth including fiat onboarding in Q4 and following this a global mass marketing campaign.
With their recent investment from the Tron Foundation and plans to onboard users from both Bittorrent and Dlive the outlook for the site looks extremely bullish.
When comparing traditional online gambling sites with WINk’s decentralized platform the USP for players on WINk is profound. Not only are the Dapp’s transactions transparent but also provably fair and open to view on the blockchain. With a permissionless blockchain solution such as WINk, there are no intermediaries and users have complete control over their own funds. No one can stop you from using the on-chain games on the site. Not even WINk.
WINK’s business model which involves the daily sharing of revenue with users not only encourages players to return but also gives the user a stake in the platform’s success. Players mine tokens as they gamble, with each token earning them a share in the platform’s future daily revenue, forever.
As it stands $WIN holders receive daily dividends in three currencies; TRX, BTT, and USDT (TRC20) with further top 15 coins being added throughout the year. By the end of 2020, holders looking to build a portfolio of the top coins would simply need to buy one to do this: $Win.
Online gambling is one of the fastest-growing industries in the world with predicted compound annual growth rates of 8.77%. While online gambling will never take 100% market share from brick and mortar casinos, decentralized platforms such as WINk could feasibly render centralized online casinos obsolete. Putting traditional sites side by side with WINk it’s hard to envisage a scenario where anyone would return to the former after experiencing the latter. This would be like choosing Blockbuster after using Netflix.