An entirely better way to gamble
Close to twenty years ago, I met a family that owned a simple brake shop, but this family was always building hotrods, monster trucks, sand drag cars, and had always had an endless source of money to burn. A few years later, I found out their secret from some friends that actually visited their house. This family was operating an online gambling casino from their home. People would come to their home and gamble using computers already set up there. Whether it was legal or not wasn’t clear and I didn’t ask too many questions. Ever since that discovery, I knew the value of online gambling. This is the reason I picked up some FunFair tokens months ago.
Recently, there has been a surge in price of FunFair (FUN) - 17% increase in 24 hours.
What is FUN?
The token FUN will be used for all platform actions, including betting, lending, paying out players and compensating stakeholders. Games built on the FunFair platform run directly in the browser on desktop and mobile devices without requiring an app download, completely eliminating one of the major pain-points of player onboarding.
FunFair is pursuing a full suite of traditional casino games:
• Blackjack
• Baccarat
• Craps
• Roulette
• Slot machines (various types)
• Let It Ride
• Caribbean Stud
• 5-card Poker
• 3-card Poker
• And more to come
What is the value in buying (FUN)?
There is no benefit to owning, no profit sharing, and no dividends. The value is purely in the fixed supply with plenty of room for adoption.
Current supply of FUN = 11 Billion (fixed with small burn rate)
On-Line Gambling market = 47.1 billion dollars, and projected to continue increasing.
FunFair Market Cap = 0.3 billion.
Where will this supply go to add value?
• Casinos holding FUN as part of their bankroll
• Players holding FUN and not cashing it out immediately after they play
• Investors holding FUN anticipating it will increase in value
• Token burn: a small amount of FUN will be slowly destroyed over the initial two years of incorporation.
Right now, price has been set purely by Investors. Scarcity of the token will likely ramp up as casinos will need to buy FUN to stock extremely large bankrolls to meet the demands of gamblers.
Benefits over traditional on-line gambling:
• Decentralized, serverless
• Provably fair, blockchain-based
• Trust-less outcomes that can be witnessed on verifiable smart contracts (traditional on-line gambling requires the user to trust the casino will be fair in setting the odds. In FunFair, the odds will be verifiable.)
• Instant cash outs – FunFair does not hold your funds
• Casinos feel safer, with no risk of fraudulent charge-backs from player credit cards.
Benefits over current blockchain gambling:
• 10x Cheaper Betting (high transaction costs with other blockchain methods severely impact winnings for players and earnings for operators)
• Current Competition is Unsustainable (Transaction costs to play a single hand of blackjack can exceed $1.00 and dice games can exceed $.75 per bet on average on current Ethereum blockchain-based casinos)
Here is the FunFair website:
https://funfair.io/
Kudos to @socky for an excellent contribution that will benefit all of our Steemit community. Online gambling is a huge success coupled with the foundational crypto concepts with block chain technology with catapult one another. RESTEEMED.
Thank you so much for the support and resteem. The master @senseicat!
a good explanation master@senseicat.
I would invest in this token, but I think most of the gamblers these days are having a lot more fun day-trading the altcoin markets. These casino games can't match the craziness and fun of the altcoin markets!
Never underestimate the power of gambling. The entertainment value and addiction of a simple game is incredibly powerful. There is no doubt that some gamblers will transition to cryptocurrency, but that doesn’t always provide the instant gratification, and can be somewhat technologically challenging. Cryptocurrency trading will never replace the need for gambling unless gambling is illegal.
Real friend, this super, this contribution, I will give resteemer for my friends in the community which I carry, greetings #steemfamilyhi and also supporting with Campaign to get SBD listed on Binance
Thank you @lanzjoseg for the support!
Friend, I am the one who should thank you for always visiting my blog .. Thank you.
I am using the profits from this site to buy FUN.
https://computta.com/?ref=268161
I have zero invested making money as I sleep. CHeckit!
Thanks for the post!
Thank you for the resteem. I’ll have to check it out.
Very interesting post .
The way to write and explain every thing is so amazing .
I learn a lot of thing from your post .
Keep it up
I'm glad you appreciated it. It took me a while to decipher the important points from the whitepaper and various places.
Yep this type of post makes time a lot .
Best of luck .
Wionderful fun fair post.....
Thank you for the resteem. I’m glad to finally meet the standards to be resteemed by you. 😀
It seems really interesting. It will be hard to get People to actually use it for its intended purpose imo. I am not sure if there is enough demand for this sort of project.
I beg to differ. Have you tried their website? It is not that difficult. Also the on-line gaming industry is huge. It is just not talked about publicly. I’ve seen a documentary about on-line gambling and the problem is how to collect the winnings. That process can be very shady and dangerous. The token fixes that problem. A gambler can collect winnings right away instead of going to some shady place to collect money.
That's the thing. If it gets more Attention it could revolutionize the industry.
i wish they would add sports books. I would be all over this project. Although I’ve used their test net and I own a little FUN, they value would skyrocket here if they added sports books
I agree, I was considering finding another token or coin that supports sport betting to buy.
Hmm I I feel like that’s the market to be in, it’s just no other gambling platform compares to FUNFair, and not to mention development teams
Goof news sit u really appreciate