The convergence of decentralised finance (DeFi) with traditional online gambling, giving rise to the GambleFi sector, is now estimated to have become a $95 billion industry. This emerging trend within the Web3 space not only showcases the appeal of gambling but also explores the potential economic growth facilitated by blockchain technology and DeFi solutions.
TG Casino stands out as a key player in the GambleFi sector, having successfully concluded its presale for their $TGC native token on 21 December 2023 – raising $5 million USD.
GambleFi represents the integration of DeFi technology with the concept of online gambling. Despite gambling’s longstanding popularity, the infusion of blockchain and decentralised finance solutions opens new avenues within the Web3 space.
With the online gambling market reaching an estimated value of $95 billion and projected annual growth rates of 8-9%, the potential for substantial industry expansion is evident.
The adoption of Web3 technology in GambleFi projects introduces numerous advantages over traditional online gambling:
1. Blockchain Security and Transparency: Verifiable and tamper-proof transactions and game outcomes aim to instil trust among players.
2. Lower Barrier to Entry: Web3-based platforms offer accessibility to a broader range of users.
3. User Control over Funds: Users retain control over their funds, eliminating the need for centralised deposits.
4. Reduced Risks of Account Suspensions: Web3 systems, not relying on central authorities, are less prone to account suspensions or bans.
These advantages collectively provide a more secure, user-friendly and transparent environment for gamblers.
TG Casino: A Leading Player in the GambleFi Landscape
TG Casino, a licensed Telegram-based crypto casino and sportsbook, has emerged as a key player in the growing crypto casino market. Operated on the widely-used messaging platform Telegram, TG Casino aims to provide seamless access without additional downloads, reducing entry barriers for users.
Run by experienced casino professionals, TG Casino aims to be committed to regulatory compliance. The $TGC token aims to play a central role in the TG Casino ecosystem. The token introduces a model where 40% of bought-back tokens are burned, contributing to scarcity and the remaining 60% is distributed as rewards to encourage user loyalty.
Beyond traditional gambling, TG Casino introduces exclusive High Roller NFTs for whom investors contributed $5,000 or more in the presale. The platform will provide games, including blackjack, roulette, baccarat, craps, poker and sports betting options.
A staking system for $TGC holders provides additional tokens and Ethereum rewards over a 6-month pool, fostering long-term engagement and loyalty within the TG Casino community.
Anticipating the GambleFi Wave: TG Casino’s Unique Position
As the GambleFi sector gains momentum, TG Casino positions itself strategically within the market. TG Casino’s mission to provide users with a secure and transparent gambling experience adheres to the principles of GambleFi.
TG Casino’s success in GambleFi is already apparent, with recent updates from TG Casino showcasing notable user engagement and growth, with over $155 million wagered by players, participation from more than 4,500 players and total deposits surpassing $14 million.
The GambleFi narrative gained traction on June 28 when Rollbit announced its migration to Ethereum. The growth projections for the online gambling market, with an estimated revenue of $95.05 billion, further highlights the potential of the GambleFi sector. Anticipated annual growth rates, user penetration figures and revenue projections showcase the robustness of the online gambling industry.
As GambleFi emerges as a new and promising sector within the Web3 gaming industry, projects like TG Casino take centre stage with their unique offerings and commitment to providing users with a secure and transparent gambling experience.
TG Casino’s entry into GambleFi could see it as a market leader in this $95bn sector and the $TGC token launch success has further added to the anticipation of $TGC soaring 100x in 2024.
