Blockchain Bets $BCB — Unveiling the Seismic Growth Potential of GambleFi
Introduction
Probably the most interesting question when it comes to crypto projects, is whether there is a genuine market for what is being created, and what does that market look like? Gambling has been one of the biggest forms of entertainment for the past 5000+ years, ever changing, ever adapting and it only makes sense that it will continue to do so to cater to a growing crypto community over the coming years.
The Data
The global online gambling market size is currently $81.08 billion (2022). This is expected to grow at a compound annual growth rate of 9.3%, to $88.65 billion in 2023. By 2027, it is anticipated this will be worth roughly $125.6b:
According to the data, Europe dominated the online gambling market share with roughly of the volume in 2022, likely attributed to the legalisation of gambling across European countries such as France, Germany, Spain, Malta and Italy. But what if legalisation wasn’t determined by the country you live in, or even better, completely decentralised? Well, with Blockchain bets being a KYC-free, decentralised betting platform, it opens up global opportunity.
Online Betting Activities Explored
We have a rough estimate of volume above, but how is this broken down? Again, I’ve looked to draw data specific to online gambling. As Blockchain Bets is decentralised, users will need to be engaging in online services. As expected, Sportsbook and Casino dominated the market value, but it did provide some interesting breakdown on other offers:
There is plenty to be excited about here as Blockchain Bets ($BCB) covers over 80% of the markets noted above, and with the Poker release imminent and a distinct lack of competitors, it could well be a flagship platform in addition to the wide ranging Sportsbook and Casino offering. I’m not sure how many crypto holders enjoy Bingo, but happy for the community to correct me! I do know Poker is absolutely huge and has 100m online players a year, and is exactly the demographic for crypto holders.
What this market doesn’t currently take into account is Fantasy Leagues, which is estimated to be worth $3.7b in the US alone by 2024, so there is also huge opportunity for growth, and already in the Blockchain Bets $BCB roadmap.
Crypto Users and Wallet Holders
The data on this is a little more sketchy. There is an estimated 420m crypto users around the world as of 2023, but after exploring wallet holders specifically, this was estimated at 82m in 2022, but with an estimated compound annual growth rate (CAGR) of 24.8% to 2030. This means by 20230, we could see close to half a billion wallet holders.
Age and Gender
Now, this is probably the most important statistical area for me, as there is a specific audience within crypto right now that I feel aligns directly with online gambling platforms. A report specific to the US demographic published in Forbes 2021 noted the following:
- Though only 16% of Americans say they have used some kind of cryptocurrency, 43% of men ages 18 to 29 say they have, according to a survey of over 10,000 U.S. adults.
- There’s a gender gap between crypto users of all ages: 22% of men say they’ve used cryptocurrency, compared to only 10% of women.
- Cryptocurrency is most popular with young adults: 31% of people ages 18 to 29 have used it, compared to 21% of people ages 30 to 49, 8% of people ages 50 to 64 and 3% of people age 65 or over.
Now, let’s compare that to gambling:
- Older gamblers and especially those aged 60+ are more likely to choose land-based establishments.
- Online casino players and sports bettors tend to be on the younger side (18–35), and they tend to be male.
- Over 40% of online poker players are between the ages of 18–25.
Therefore, there is a direct correlation between the audiences gambling platforms look to attract, and the type of individual who is entering the world of crypto. I’m not saying this is every instance, but the market is pretty clear on this one and is heavily tipped in Blockchain Bets ($BCB) favour for a huge audience to want to use their services.
Betting with Crypto Tokens
Now what people actually invest in as a token can be wide ranging. For a gambling platform, ideally the more tokens with direct access to play bets the better, so online betting platforms should be offering this. Blockchain Bets is doing just that, with an ever growing list of options for it’s user:
They currently have 18 token options to bet with and growing, further catering to their target demographic. The main two tokens used on the platform are currently $ETH and $USDT, but personally I can see the likes of $DOGE and $SHIB getting more traction soon enough.
Final Remarks
Cryptocurrency has long been touted as a complete gamble, by people who simply don’t understand the technology. However, it does also attract a population who are not risk averse, who are here for the future and who will take significant leaps of faith on developers and ideas. This is ultimately why Blockchain Bets will go from strength to strength with the services it provides, as it meets a need. Gambling platforms and Crypto are a match made in heaven, and Blockchain Bets ($BCB) is standing at the gates ready to welcome users aboard.
Where to Buy Blockchain Bets
Uniswap: https://uniswap.org/
BKEX: https://www.bkex.com/trade/BCB_USDT
BitMart: https://www.bitmart.com/trade/en-US?symbol=BCB_USDT&layout=basic
MEXC: https://www.mexc.com/price/BCB
Key Contact Information
How to get involved with Blockchain Bets:
BCB Twitter: @BCBerc20
BCB Telegram: t.me/BCBerc20
BCB Main Website: blockchainbets.app
BCB Betting Website: blockchainbets.club
BCB Staking Website: staking.blockchainbets.app
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