A few years ago, the online gambling begins to create a room for itself in the Business world. And now as expected, the global online gambling industry has turned out to be one of the fastest growing businesses. In a span of the last 5 years, the industry has grown from $34.81 billion to $51.96 billion. By the end of 2020, it will be a $59.79 billion industry. From the big crowded casinos where some gamblers used to drink and shout at the top of their lungs, to gambling made available online at the comfort of home, the changes in the industry are proven to be great.
The Year was 1994. The very first online casino was launched. Very soon the online gambling industry begins to pick up the pace. In the year 1996, there were just 15 online gambling websites. Just one year passed and there were 200 online gambling websites live. In 1998, the online gambling industry generated revenue of more than $830 million. In the first year of the current millennium, there were 8 million individuals participating in online gambling in the United States only.
So far so good
However, the industry began to get stigmatized due to some bad business practices. The Sporting News in 2006 had to pay $7.2 million fine as it did not drop online gambling ads. Attempts were made by the State of Kentucky to seize 141 online gambling website domain names in 2008. However, the ICA, Interactive Media Entertainment and Gaming Association opposed this decision. In 2011, the online gambling industry begins to cash in on the popularity of iPhone, iPad and other small devices. Three years later, Bitcoin entered the online gambling industry.
Online gambling is now one of the fastest growing industries in the world. As the legal gambling websites are paying tax in 7 to 8 figures, prohibitions on online gambling industry are being lifted. More and more countries are legalizing and regulating online gaming and gambling websites.
However, frauds, corruption and other unethical business practices are deterring and denting the reputation and success of the online gambling and gaming industry. As long as different gambling services are operating their businesses separately and offering their services on different platforms, the industry has to fight tooth and nail to make online gambling free from frauds and illicit activities. Though it is a big global multi-billion dollar business, however, the challenges are real and tough.
Big Bang finds the solution in the Blockchain technology. The decentralized, immutable and incorruptible technology is one real solution to take down challenges to the industry. The Blockchain-powered Big Bang Platform is eyeing to address these challenges by coalescing online gambling and gaming services on one platform.
The Big Bang Platform is a Marketing and Loyalty Platform that makes online gambling and eSports more profitable and secure for all actors including gamers, operators and sponsors. However, the best thing it does is bringing multiple gaming and gambling services on one page. Gaming and gambling services integrated with this platform can share the profiles of actors involved in any kind of foul play. This makes the business secure and transparent. As the data in a Blockchain is manipulated only and only when all nodes arrive at a consensus, it is impossible for anyone to manipulate and misuse any kind of data on the Big Bang Platform. This decentralized platform allows the industry to perform all business operations at one place. This makes it much easier to identify and foil illicit activities.
The ability to perform all business operations including marketing, finding new business opportunities, providing online gaming and gambling services, offering rewards in the form of the Big Bang Token, performing transactions and storing and exchanging tokens on one platform eliminates the dependency on rogue grey markets and third parties. This not only saves the cost of business operations but also creates trustworthy relationships between all actors. Almost negligible transaction fee can save some crypto coins for gamers, operators and sponsors.
Gaming and gambling services providers can offer special loyalty programs to attract new gamers and retain existing gamers. Gamers can earn the Big Bang Token rewards by participating in eSports and gambling. They can trade these tokens for Bitcoin and other ERC20 compatible cryptocurrencies.
The industry needs a secure and profitable future and this is what Blockchain powered Big Bang Platform is offering.
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Engaging. So cool.