GambleFi Dividends Report | Accumulating OPENBET!
New Buy Openbetai.io (OPENBET)
I quite randomly came across this one recently while watching Ivan On Tech as it showed in his moralismoney.com website on the screen which is designed to find New altcoins early. This one ticked enough boxes for me to take a gamble on it very much understanding the risk that comes with it this early on in the project.
It's pretty much another crypto casino/bookmaker that has its own token where earnings from the site are (will be) paid out to token holders. Fundamentally there isn't all too much there yet as it's a copy-paste of Rollbit/betfury in terms of the actual software for the site and the casino plus sportsbook which all has the same offers and odds. These sites differentiate themselves in bonus offers, dividend payouts with tokens and unique fearures. Both Rollbit and Betfury have done a great job on that part also building a good reputation and attracting quite some users that generate revenue for the site. Openbetai still has a lot of work to do in this regard but it's looking quite promising bringing some opportunity to get in early and get rewared for the risk (or lose everything). Something like Sportbet.one I consider far stronger fundamentally as they actually have their own site and odds with bets being settled on chain allowing to bet straight from your own wallet.
The play.openbetai.io site allows easy account creating and login using metamask supporting different chains for easy deposits. Similar to rollbit and betfury, it is fully centralized in the deposits and for all I know, they pretty much do with your funds what they want and they are not safe. They also are working on NFT integration similar to Rollbit and started to roll out a rewards program.
The OPENBET token runs on the Arbitrum blockchain and seems to be a rebrand of offside which I can't find that much information on. It has a capped 10M coin supply with 1 liquidity pool which currently has 291k worth of liquidity. There is a 5% buy/sell tax from what I understand to help grow the pool and it can be changed later down the line. Right now they have a copy-paste casino provided in some way by OwlDAO (I had a close look at this one in the past but it didn't pass my requirements mainly because the tokenomics were too scammy with crazy high fees) and openbetai claims that they will introduce a 2nd on chain casino which will also count toward dividends payouts. Right now there is a snapshot taken at a random time during the month and payouts will be done automatically to wallets that had OPENBET in Stable coins.
Pumpamentals & Marketing: If anything, the project understands the importance of pumpamentals and marketing in the crypto space and they are very active on social media (twitter / telegram / discord) doing all that is needed to create hype and a community of people that want to see the price pump with lots of news updates. The name rebrand and "AI intregration" also fully plays into the hype of the moment even though I see it all more as a gimmick. There was a big news update near the end of march where it was stated that 100% of the revenue will be shared instead of 50% until the 2nd casino opens. Once the 2nd casino opens people will have to stake their OPENBET and 75% will be distributed weekly. They also introduced an NFT collection that will give some revenue share similar to Rollbit which will be given out as prizes as a way to incentivze gamblers "An ultra limited NFT collection will be introduced in late April or early May. These NFTs will not be minted, but rather given as prizes to be airdropped to aid in the development and excitement for the project. NFT holders will get extra revenue shares and other perks to be named later."
There also was a new roadmap for the next 7 days
✅Casino profits distribution
✅USDO airdrop to all holders
✅More NFT sneak peeks
✅2nd casino sneak peek
✅More prizes and contests on Twitter.
Personal Thoughts: The marketing and hype creating is pretty big for this project while the actual fundamentals aren't yet there as everything is just a copy-paste so far. However if they continue like this and actually deliver something that only earns a fraction of what rollbit and Betfury are doing, the current market cap of below 1 Million is really cheap and should provide a nice opportunity for both good earnings and price appreciation. I do take in mind that all of it could be just be a big pile of air with the intention to pump the OPENBET Price and dump on new buyers as the setup is not that difficult using a gambling site as a tool for it.
In case of a bad actor it could all just bet make a copy-paste casino, create hype around the coin with many promises and rewards linked to gambling, have a coin that starts with a low market cap and make it pump creating more hype, have players deposit money on the site to gamble, use that money along with money from sold tokens to pay out fake dividends, driving more money to be deposited with price of token going up, ...
It does look like the project is quite legit from what I can tell, but it remains crypto and scams are everywhere so it needs to be taken into mind. Understanding all this, I'm willing to accumulate some of this token with an eye to sooner than later make sure that I get my initial invested capital out either from dividend payments or from selling some coins if they turn out to go up in price a lot. I am willing to lose all that I put into this. So far, I bought 3 batches of 0.36 ETH / 0.32 ETH / 0.35 ETH the past week which got me up to 18300 OPENBET tokens or 0.183% of the supply and I might cost-average in some more. I will bring weekly updates on how things are going in these posts and I'm looking forward to the journey with this one.
Sportbet.one (SBET)
Great dividends again this week from SBET which makes the dropped price 'cheap' again as the weekly return on them was 1.059%. Still not much has changed and marketing + hype are totally lacking while fundamentals are stronger compared to other projects that have way more revenue which is the way it tends to go in crypto. I know of want to take some funds out in order to buy some more openbet but not at the current price if dividends at least hold up in the coming weeks
Rollbit.com (RLB) & Rollbot/Sportsbot NFTs
I did learn something new about Rollbit this week which is that if you use a multiplier, the costs of entering the lottery also goes up which kind of makes sense but at the same time pushes down the valuation of the RLB coin a bit for me. The lottery this way actually becomes a lottery as you pretty much rely on winning it in order to get a positive return that is worth it at current price levels.
At the same time, it means that more RLB gets burned each lottery which benefits holders that aren't taking part in it as the price will have to go up as long as there is enough money flowing into it.
The price of RLB did go down to 0.016$ which has put price pressure on the NFTs which also are decreasing in value. Personally I'm still getting +39% APY based on the price that I paid while they now are +28.79% APY on the current price based on the dividends last week. As the price dropped, the burn increased as more is staked in the lottery which still has 12k in it every 16 hours or so not counting the 500k+ that currently is sitting into the jackpot.
Betfury.io (BFG)
One of the dangers of many of these gambling sites is that they eventually can run out of steam with players running to new casinos that are more rewarding as the token structure and rewards are just starting. Betfury in a way is in danger of this when looking athe the token price / divindends / token supply / reward pool. The returns are still quite good above 30% but nowhere near where it used to be so right now the prices feel quite right and I have no temptation to buy or accumulate more. Instead I used some of the earnings to invest in openbetai.
APY Based on Current Price and Dividends from the last 7 days
All these numbers are based on prices of Monday
| Project | APY |
|---|---|
| Betfury.io (BFG) | +30.99% APY |
| Sportbet.one (SBET) | +55.068% APY |
| Rollbit.com (RLB) | +28.79% APY |
| Openbetai.io (RLB) | Soon... |
Note: Token prices going up or down have a major influence on the actual returns going forward either amplifying them if they go up or destroying them when the price would dip. These are my personal numbers and RLB varies based on the trait of the Rollbot NFTs you own.
Personal Gambling Dapp Portfolio
I did receive over 300$ in dividends again will be adding still holding 7.5M SBET | 600k BFG | 3677$ worth of Rollbot NFTs. I will be adding my openbet investment next week and if everything goes right should get some divindends from that as well. I'm still looking to diversify with other good gambling dapps that pay the losses or fees from the gambler to those holding a token. Anyone that has tips on this, please leave a comment below...
Crypto & Blockchain-Based Bookies and Exchanges that I'm personally using as they allow anonymous betting with no KYC or personal restrictions...
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