The top 3 casino coins under the magnifying glass
The gambling market is booming like never before. Can blockchain casinos secure a piece of the market and which projects are currently dominating the gambling sector?
A casino coin is a cryptocurrency that serves a purpose in the gambling world. Many of these new types of coins and tokens are used for gambling in casinos, sports betting or in related areas. What is revolutionary about these new crypto casinos is that many allow players to play decentralized gambling for the first time.
The blockchain technology is used for this, casino users can check the fairness of the individual games with the help of the blockchain . In addition, there are “dividend casino tokens” that allow players to become owners of a casino platform themselves. This makes it possible to share in a casino’s profits by investing in their cryptocurrency .
Which Blockchain Is Winning The Gambling Sector?
After Ethereum has already grabbed a large chunk of the Decentralized Finance (DeFi) sector , it is still up in the air which blockchain will win the race in the gambling sector.
At the moment, the crypto gambling sector is predominantly dominated by EOS (EOS) and Tron (TRX) gambling dApps . Compared to Ethereum , these blockchains can already carry out low-cost transactions today.
It is thus possible for a large number of players to be able to transact in crypto casinos without overloading the blockchain network. In addition, players do not have to pay overpriced transaction fees either.
Below we will focus on the crypto casinos that allow you to be a casino owner yourself.
At press time, according to Cryptogamblingnews , the casino coin industry has a market cap of $140 million and a daily trading volume of $5 million.
Which casino coins dominate the market?
Wink (WIN): market cap of $24 million
Probably the best known and to date also the largest crypto casino is wink.org. In October 2018 the casino was founded under the name Tronbet and subsequently changed its name to Wink in July 2019. This was followed by a successful token sale via the Binance Launchpad . Since then, WIN has been listed on Binance and a variety of other exchanges.
In 2019, the Tron dApp recorded the largest transaction volume of the entire dapp space . On Wink it is already possible to gamble on some of the most popular cryptocurrencies, including Bitcoin , Ethereum and BNB. The established stable coin Tether (USDT) is also supported. In addition, playing with more than 100 other cryptocurrencies should be possible in the future.
The native platform token WIN can only be obtained via crypto exchanges and cannot be earned. By so-called “freezing” the WIN token, owners receive a share of the casino profits and the dividend is paid out every 24 hours. The dividend is currently distributed in TRX, BTT and USDT.
In addition, the platform rewards players with various tokens for playing on the casino platform. These tokens can be exchanged for fiat money or other cryptocurrencies .
Wink has 11,000 members on Telegram. According to DappReview , more than 5000 players played on the platform in the last seven days and the volume reached $13 million.
According to official information from the Wink team, a community poker tournament is scheduled to take place later this year, which will feature some well-known faces in crypto space.
Felix (FLX): market cap of $11 million
Felixball.io is an EOS-based casino platform that has been in the crypto space since 2019. Players can either purchase FLX Coins on the decentralized exchange (DEX) Newdex or receive them as a reward by playing games.
In addition, FLX hodlers can receive dividends for “freezing” the FLX coin on the Felixball.io website. Overall, FLX has a very high token supply of 10,000,000,000, of which only about 1,000,000,000 units are in circulation.
Even if, according to DappReview , more than 19 million US dollars have been gambled on the platform in the last seven days , this volume should be viewed with skepticism. Although the crypto casino is the largest on the EOS blockchain to date , the platform’s range of games is limited compared to the competition.
Felix has around 1900 members on Telegram and 1700 users played on the platform last week.
888tron (888): market cap of $6 million
888tron is also a decentralized casino running on the Tron blockchain . Similar to the other casino platforms, you get 888 tokens for playing the games.
On 888tron you can play all kinds of gambling games, from normal slot games to sports betting or live casino, everything is offered. The platform supports various cryptocurrencies , but most games can only be played with TRX.
In addition, the 888 token is used to receive dividends, which are credited every 48 hours. 888 token holders will receive 65 percent of all profits from the 888tron platform. The record payout of a dividend was more than $5.8 million.
There are 100 million 888 tokens in total, which is a comparatively low token supply compared to other crypto casinos. In addition, of the 100 million 888 tokens, only just under 27 million are in circulation and new ones are earned every day.
According to DappReview , more than 3000 users played in total in the last seven days. These gambled within the last seven days with more than eight million US dollars. In addition, the 888tron Telegram group has 3150 members and the project has existed since the beginning of 2019.