GambleFi Portfolio Update | Everything Back To Normal !
Sportbet.one (SBET)
After the hack 2 weeks ago (Link), and there being an issue with the dividend page last week making it impossible to claim (Link), things have now fully been restored to normal and it was fixed properly.
If anything, the fact that I have been invested in this project now for 175+ weeks and counting getting stable and reliable returns despite covid happening, a crypto bear market where the token price outperformed everything else, 2 hacks that got fixed and the recent issue with the Dibidend page increases my confidence. This means that they are battle tested while it makes a lot less sense that there would be some kind of rub pull. The fact however remains that there is limited progress in adoption. They really did wel on allowing centralized deposit directly with bank transfers or credit cards since the EOS blockchain it runs on isn't exactly the most adopted.
Bonus bets were given out to loyal players to compensate for the hassle due to the hack and it doesn't look like there was an exodus with 190 active bettors in the last 7 days. The volume and dividends however remain extremely whale-driven meaning their would be a big drop if one of these players left.
The dividends I received were good at a 0.746% weekly return which is a zone where they should be given the risk involved.
Openbetai.io (OPENBET)
After some delays which got many of the ones invested kind of nervous (including myself), the dividends of the 2nd Month eventually did get paid out but they were about half of the previous month. This despite a reported growth on the platform with some late big lucky winners taking a big chunk of what were supposed to be higher dividends compared to the month before. The entire process is far from transparent and when it comes down to it, they can make up any number that they want and insiders als know in advance if dividends will be high or low on the month while everyone else is left in the dark.
Looking at the price action since there was announced that dividends were already topping those of last month with 6 more days to go which meant at that time and price that APY was going to be well above +100%, the price continued to fall which is rather suspicious.
Looking at the betting action tab however, there clearly is increase activity alss some bigger whales that have turned over millions. Some also had really high payouts with smaller stakes. The strange thing however is that these players tend to be shared one way or another with the owl.games where openbetai gets their casino software from.
High Roller Bets on Openbetai.io
Highe Roller Bets on Owl.games
The fact that dividends did get paid out did increase the trust a little bit and the project itself makes sense as wanting to be the leading GambleFi project on the arbitrum chain. In that regard, I see a lot of potential as Rollbit with pretty much the same software in just a couple of hours earns what openbet now does in a month. I also like the marketing strategy with them giving UDSO to new players which can be unlocked for 100$ by rolling it over 50x. All OPENBET holders also got 100 USDO as a bonus today. I don't expect to be able to meet the requirements though but I will at least try.
For as far as the dividends went, I received 476.47$ for holding 201000 OPENBET at the time of the Snapshot. At the current price of 0.0361$, this would equal 75% APY (After 5% Buy Tax) and this for a month where dividends actually were really disappointing in total 7498$ compared to the 15098$ last month. Variance is a big factor but it should be no stretch whatsoever for this to easily be 30k+ in one of the coming months. I could not help myself and re-invested my USDT earnings to buy some more OPENBET and I have a little bit more in the tank to add on my position under 0.04$.
It however remains a high risk / high reward on which I can see multiple scenarios both good and bad.
Good Scenarios:
- Openbet continues to grow and attract more players while releasing their own 2nd on chain Casino, followed by some more marketing and the NFT releases which give incentives for players to do more volume to earn those. If this gets them to a fraction of what rollbit or betfury are doing, this could easily make the price go up x30 or more with dividends increasing along with it.
- Things continue to operate without crazy adoption but monthly profit around 10k-15k+ which means at current price level it gives +100% APY
- They scam everyone to the upside using customer funds to fake high dividends hyping things up which would pump the price allowing me to at least sell part of my stack to get the initial investment out before the project eventually gets in trouble after devs managed to make a lot of $$. At current market cap and what they managed to make I would say it makes no sense if they were trying to scam.
Bad Scenarios:
- whales win to the point where they aren't able to pay them as I doubt they actually have the funds backed up themselves if this would happen.
- The team has bad intentions and rub pulls at some point
- They somehow lose the rights to use the current software from Own.games and the 2nd casino is too basic to really attract gamblers
- Regulation kicks in causing issues (which is a danger of all these platforms)
- They somehow get hacked losing customer fund and go down.
These are pretty much the options I see and that I'm willing to accept. I do see the chances of one of the good scenarios playing out as way higher compared to the bad ones which got me to take a rather big risk on my investment given the potential I see compared to the market cap. So you won't see me advising anyone to get in and I'm only really stating what I'm doing and my reasoning behind it. Only time will tell and it's exciting to be part of it this early.
| Date | Hold | Total Invested | Current Value | Tot Dividends | % recovered | Total |
|---|---|---|---|---|---|---|
| 24/04/2023 | 201k | 15669$ | 9400$ | 54.5$ | 0.35% | -6215$ |
| 02/05/2023 | 201k | 15669$ | 8975$ | 54.5$ | 0.35% | -6640$ |
| 09/05/2023 | 259k | 18145$ | 9865$ | 54.5$ | 0.21% | -8280$ |
| 16/05/2023 | 273k | 18675$ | 9363$ | 530.98$ | 2.84% | -8781$ |
I'm still down a lot based on the average price of 0.0684$ that I managed to get in on it but at the same time, only 1 good dividends month would be needed to make the price go up way above that. So I will continue to keep a close eye on this project to see how it evolves...
Rollbit.com (RLB) & Rollbot/Sportsbot NFTs
This was a great week for Rollbit with a record RLB payout of 576.55 RLB for me and a total burns of 0.15% of the supply. The increased total lottery money (188k vs 126k previous weeks) also made the RBL price increase along with the value of NFTs. In a couple of days I will also be able to claim and lock my Sports Rollbot which will have 4x the earnings compared to when I bought it.
So everything is pretty good in the rollbit ecosystem even though the actual returns aren't that crazy at +44.38% APY compared to the price I paid for my NFTs.
Betfury.io (BFG)
Betfury continues to be betfury with quite stable results after the crazy inflating of the BFG token got cut down. The returns at +35% APY aren't that spectacular and just a nice reliable source of some weekly earnings.
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) | +35.24% APY |
| Sportbet.one (SBET) | +38.79% APY |
| Rollbit.com (RLB) | +35.06% APY |
| Openbetai.io (OPENBET) | +75.06% APY |
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
The added OPENBET holdings finally did produce some extra dividends even though I had hoped they would have been higher based on what they were last month. Still a solid 324$ passive earnings last week. I'm currently holding 6M SBET | 480k BFG | 2638$ worth of Rollbot NFTs | 273k OPENBET. 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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