Revolutionising Poker: Blockchain Bets ($BCB) — The Gold Standard Poker Platform
Introduction
Poker is huge business, particularly in the US where there is an estimated 60m players who play online, and 100m online players world wide. With a global market measured at $76b in 2021, estimated to double by 2030, there is no better time for Blockchain Bets to launch it’s Poker platform to the world. This article will break down both the opportunity for $BCB holders, as well as platform users.
Rakes
Rakes refer to the fee or commission charged by a casino or online poker room for hosting a poker game. It is the primary method by which the house generates revenue from poker games, or what I like to call a service fee.
When you play poker, a small percentage of the pot or a flat fee is taken by the casino as the rake. This amount is typically a predetermined percentage of the total pot, depending on specific factors such as the stakes being played and the size of the pot. The rake is typically capped at a certain amount to ensure it doesn’t become excessively high, especially in higher stakes games.
Blinds
In a game of poker, the blinds are forced bets that players in certain positions are required to place before the cards are dealt. The blinds are a fundamental part of the betting structure and help create initial money in the pot, encouraging action and preventing players from simply folding without contributing.
There are typically two blinds in poker: the small blind and the big blind. The small blind is placed by the player directly to the left of the dealer button, and the big blind is placed by the player to the left of the small blind. In most games, including the most popular Texas Hold’em, the positions of the blinds rotate clockwise after each hand, ensuring all players take turns posting the blinds.
The size of the blinds is predetermined and is usually a fraction of the minimum bet or the small bet in the game. For example, in a $1/$2 No-Limit Hold’em game, the small blind would be $1, and the big blind would be $2.
Rakes to Stakes?
Now, time to connect the dots. As all platform profits for Blockchain Bets go to stakers, Poker is the perfect platform to ensure a consistent flow of income through it’s service offering.
Typically, the top providers charge between 3.25 to 5.45% on Net Rakes, per 100 hands for 6 player tables with blinds of $0.10/0.25, $0.25/0.5 and $0.5/1.00, and I’ve provided a few charts below for comparison:
Service Fees and Profitability
Now let’s get into the math:
If we have 100 hands per hour for a 6 player table, Blockchain Bets rakes would be $1.94 per player per hour for the $0.10/$0.25 table for sector low rake fees. This equates to $11.64 per hour for a 6 player table, or $279.36 per day on a continuous 24 hour loop.
For a 9 player table, there are roughly 75 hands per hour. This would equate to roughly $1.46 per player per hour due to the drop in hands per hour, but equates to $13.14 per hour as there are 9 players, or $315.36 per day on a continuous 24 hour loop.
Now, as the platform grows, I would expect that there would be thousands of active users (Let’s remember the 100m online players world wide). If we can capture just 0.1% of this online market, we’ll have 100,000 poker players engaging with the platform. Remember, we’re expecting this figure to double over the next 7 years too so by 2030, we’re looking at 200m online players. Also it’s worth noting, a number of these players will participate in multiple tables simultaneously, which further adds to the service fees. it’s not uncommon for poker players to be accessing 4 tables simultaneously. Poker pros will aim for 5–12 tables at any given time.
To give a flavour for monthly profits, 10 tables running continuously over 24 hours periods at maximum capacity of 6 players, would return $2,794 in rakes daily, or $83,808 monthly. For 9 players, this would be $3,154 daily, or $94,608 monthly.
Bare in mind that this is based off $0.10/0.25 blinds, for $0.50/1 the figures would be close to triple this.
Now, this doesn’t include competition pools, which work by taking a % of the entry fee. For example, if a competition has 50 players and is $110 to enter, the prize pool would be $5000, with Blockchain Bets receiving $500 for hosting. Again, this hosting fee will be passed down to stakers as platform profits.
As you can see, the rakes (service fees) can bring in significant revenue for stakers, whilst also incentivising new players to join the platform by keeping the cost to the user per hour extremely low.
Player Experience
So, how does the user benefit from playing on the Blockchain Bets platform? Well, there are multiple benefits here. Firstly, the sector leading rake and competition fees will present a higher opportunity for them to win bigger hands and prize pools, providing them with a higher earning potential.
Players who have also opted to stake BCB into the platform, will receive a % of the profits from rake fees, providing more incentive to use the BCB platform to play Poker. No other provider offers 100% of the platform profits to it’s community, putting Blockchain Bets in a league of it’s own.
On top of this, the development and work that has gone into the platform to make it best in sector has been relentless. Blockchain Bets are aiming to be THE Poker platform within the Web2 and Web3 space, offering buy in options in both FIAT and Crypto for ease of accessibility.
Invite your friends
Now, if you think you’re a Poker king, there’s no better way to demonstrate that than inviting your friends and fellow crypto enthusiasts to join you at the table.
Alternatively, if you want to have a Poker night with a specific crypto community, you can do so with private tables. Get a weekly/monthly event going with like minded individuals, promote it on socials and enjoy yourselves. Winners won’t just get bragging rights, they’ll take home the bag too!
Final Comments
Blockchain Bets is looking to deliver a platform that strengthens the $BCB token and profits for it’s holders, as well as creating a user-friendly, engaging tables for it’s users.
When looking at the competition, CoinPoker has a market cap value of $27m and is currently the main platform for crypto users and the poker platform offering is very basic. $BCB is currently sitting at $5m, and already has a fully functioning Sportsbook, Casino, Arcade and the Poker release is imminent. With platform profits of $363k since January that have been released to stakers, there is literally no better time to get an amazing entry or to top up your bags.
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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