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Gambling Industry Report: October 2020

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DappRadar

TRON and EOS are the leading blockchains in the gambling category

Gambling dapps were one of the first products launched across all blockchains. From one side, gambling dapps are simple and quick to make. Conversely, it’s difficult for gambling dapps to sustain a loyal audience. This is because users are always on the lookout for new and potentially profitable opportunities. 

That is why incentive mechanisms are created within gambling dapps with the most popular ones employing a dividend based system.

While there is a high amount of unsuccessful projects within the category. Certain gambling dapps proved to be mainstays. It is vital to look at the top gambling dapps and understand the key factors driving their success.

Source: DappRadar

Key Takeaways

  • TRON and EOS are the leading blockchains in the gambling category
  • RocketGame, a popular TRON gambling dapp was recently launched on Binance Smart Chain (BSC) and is showing good results
  • Congestion is the key challenge for Ethereum gambling dapps
  • Dividend systems are commonly used within the top gambling dapps
  • Successful gambling dapps also offer a wide variety of games

Overview

The majority of gambling dapp activity is concentrated on the TRON and EOS blockchains. Although TRON’s daily active wallets decreased by 22% in October compared to September. 

The EOS protocol also followed the trend. Daily active wallets decreased by 19% in October compared to September.

Ethereum daily active wallets are also down. This shows that Ethereum congestion is a huge issue for gambling users and for the gambling category overall.

While activity on the WAX blockchain was driven by one dapp called EarnBet. Daily active wallets have been stable within October.

As a fairly new entrant BSC is showing impressive results. The daily active wallets increased by 310% in October compared to September. As previously mentioned RocketGame is driving this activity on BSC.

The remaining tracked protocols with dapps operating within the gambling category have not made their mark as yet, activity seems to be decreasing month over month. For that reason, this report will focus on gambling dapps running gon Ethereum, EOS, TRON, BSC, and WAX.

Transaction volume was driven by TRON and EOS

As visualized below, the total transaction volume on a daily basis within the gambling category is driven by the top three blockchains. Ethereum, EOS, and TRON. However, it’s quite evident that Ethereum has decreased in October by 33% compared to September. 

Whereas TRON and EOS have increased total transaction volume by 45% and 28% respectively in October compared to September. 

TOP gambling dapps on TRON

RocketGame

RocketGame stands out from other gambling dapps. It offers a simpler gambling experience to players without any live video poker or slots. 

However, it still has all the deeper retention attributes players would expect from a gambling dapp. It has its own token called $ROCKET and packages like lotteries, dividends, and special events.

The game supports betting, mining, and dividends. Importantly the dapp integrated game-style retention features which include daily tasks, challenges, and leaderboards.

RocketGame’s daily active wallets have decreased by 12% in October when compared to September.  

WINk

One of the most popular dapps on TRON is WINk which was previously called TRONbet. The gambling dapp rebranded as WINk in July 2019 following a strategic partnership with the TRON Foundation. 

Like other gambling dapps, WINk has its own token called WIN. Players can gamble or freeze for a period of time to generate dividend payments. Players can also use WIN to gamble with additional cryptocurrencies such as BitTorrent’s BTT token and the TRON version of the USDT stablecoin. 

Daily active wallets have increased by 22% in October when compared to September.  

888TRON

888TRON is one of the most popular gambling dapps on TRON with an impressive 163 games. In the initial months of 2020 activity was low. However, the dapp has experienced peak daily active wallet activity since May and has weathered wild fluctuations. By the end of October however, activity declined to just 2 daily active wallets. 

Source: DappRadar

TOP gambling dapps on EOS

Dice is the largest gambling platform on the EOS blockchain. Like other gambling dapps, Dice also has its token called DICE. Players can earn DICE by playing games like baccarat, blackjack, and roulette. Plus, there are sports betting options.

DICE has integrated game-style challenges and leaderboards and top players receive financial rewards that they can re-invest within the platform.

Daily active wallets have decreased by 49% in October when compared to September. 

Source: DappRadar

TOP gambling dapps on Ethereum

dice2.win

When a player lands on the dice2.win website, the experience is simple because it consists of just four games: Coin flip, Roll a dice, Two dice, and Etheroll. Dice2.win is a percentage based game of chance. The only retention mechanic is a jackpot into which 1% of all bets are accumulated.

Daily active wallets have decreased by 11% in October when compared to September.  

CasinoFair (FUN) 

CasinoFair is all about their marketing strapline ‘Famous For Fairness’ which in itself is a big claim. The dapp combines cutting edge technology with the benefits of blockchain to players making it stand out from other dapps. CasinoFair provides an online casino and also lets players protect their funds and payouts with a guarantee.

This feature of the dapp is very much for the safety of players and to stimulate retention. The mechanism seems to be performing well as daily active wallets are increasing month on month. The dapp increased its daily active wallets by 56% in October compared to September.  

Source: DappRadar

TOP gambling dapps on WAX

EarnBet (formerly EOSBet) was the first fully on-chain dapp to receive an official gaming license and offers a variety of games. Like all other dapps, this one too has its own token called BET. 

Initially, EarnBet began life on Ethereum, moved to EOS, and now operates on WAX where the activity is growing day by day. 

Source: DappRadar

TOP gambling dapps on BSC

The first gambling dapp on the BSC platform is RocketGame. This game already operates on multiple blockchains such as TRON and carries the exact same features on WAX.

RocketGame has made excellent progress since launch. As shown below, a clear increase of 310% in October compared to September can be observed. 

Daily active wallets on the TRON version of RocketGame witnessed a decrease of 12% in October. It could be argued that the decrease in TRON activity may be because players are shifting to the BSC platform version of RocketGame. 

Source: DappRadar

The power of dividend tokens

User retention is a key element to all dapps success. Gambling dapps are not an exception. Some dapps offer users free tokens for the first bid, others reward the most active users. While the majority of the top gambling dapps employ a dividend system.

Dividend systems are very common within TRON’s gambling dapps. Usually, the dividend systems are based on staking mechanisms. Firstly, while playing the games, users are incentivized with a token. After you get the token, the user can stake it. 

The rewards are paid on a regular basis in the dapps native token currency or in the currency of the blockchain i.e EOS, Eth, etc. This offers a type of yield farming within gambling dapps.

Source: DappRadar

Considering RocketGame as an example, the dapp is built on two blockchains: TRON and BSC. Once you freeze the $ROCKET token you are entitled to receive either TRX or BNB as a reward. Depending on which blockchain you using.

RocketGame Rewards on TRON and BSC blockchains

Variety of games

Another important feature to consider is the variety of games on offer to users. If looking at the top 5 gambling dapps across all blockchains, all of the dapps have one common feature – a variety of games.

It could be argued that having a wide variety of games is another important feature keeping gambling dapps in the top positions. Although, as is the case with dice2.win a simple tripped back gambling experience can also be very appealing to users.

EarnBet dapp game selection

Conclusions

The TRON and EOS blockchains are leading the gambling dapp category right now while new blockchains such as BSC and WAX are here to challenge their leadership.

While analyzing the top gambling dapps running across all blockchains a few important factors seem to contribute to their success and appeal to users. 

The first one is the fees for making a transaction within the blockchain. Higher fees are restricting and don’t allow the user to move so freely within the dapp. As we have observed, this has been detrimental to a decrease in activity for gambling dapps running on the Ethereum blockchain. 

Secondly, the dividend system that is commonly used to incentivize gambling users appears to have a strong appeal and brings a more complex level to gambling dapps. Importantly the dividend system helps to retain users and keep them returning to their account and playing. 

Thirdly, creating a strong synergy of gambling, fun, and challenges by incorporating game style mechanics such as leaderboards, daily tasks and challenges help to keep users engaged and returning.   

Finally, the variety of games on offer to users is an important factor that helps drive activity. But as previously mentioned this is not mandatory to success if instead, the offer is simple, engaging, and fun.

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