$465 billion. According to this report by ResearchAndMarkets, that’s what the global gambling market was worth in 2020, despite most brick and mortar gambling casinos closed due to the pandemic. As restrictions begin to lift, this value is expected to grow to $516 billion in 2021. For perspective Amazon, the online retailing behemoth that sells everything from groceries to website hosting and cloud storage, flourished during the pandemic but had $386 billion in revenue in 2020.
We love to gamble, that much is clear from the report linked above. It’s no different for those of us in the crypto space either, with popular AMM Pancakeswap having burnt 4.2 million $CAKE from it’s lottery alone. Since only 20% of $CAKE in the lottery is burnt, that means Pancakeswap alone has already seen 21 million $CAKE ($420 million)in gambling volume.
Despite the clear demand, the online gambling market is still riddled with issues. The graphic below touches on several problems that turn away both potential players and game developers alike.
All hope is not lost however. Using blockchain based solutions, one team intends to fundamentally revamp what we traditionally expect of online gambling. Enter Spartan.casino
Spartan is a new generation casino that provides a platform for live dealer games backed by smart contracts on the BSC. It has an ambitious, multi faceted solution to the problems faced in traditional online gambling so let’s break it down and take a look at each one.
Trust and Speed
Via smart contracts on the BSC, gambling in Spartan is fraud free. There is no longer a need to put your trust in centralized systems or a casino and hope that you will receive your winnings.
In addition, instead of having to wait 1–10 working days to withdraw your winnings (the standard in traditional online gaming), the speed of the BSC enables near instant payouts after winning a bet.
Earning while playing
Unlike a traditional casino where you’d have to buy chips to play, players in Spartan will have the opportunity to earn $IRON (the currency used across the Spartan platform) in two ways, making it more accessible to everyone.
- Video ads — Before or during gameplay, players will have the option to watch a short ad. Opting to watch will reward the player with some $IRON.
- Mining games — Currently under development
Spartan rewards active users by offering a cashback feature that lets you win, even when you lose. Players will receive a % of the $IRON lost every week from betting in Spartan games depending on user activity; the more active the user, the higher the % cashback.
Wide variety of games
In addition to the traditional games you’d normally expect from a casino (blackjack, roulette etc), Spartan also intends to include products like:
- Live sports and e-sports betting
- VR Games
- Virtual slots and more
However, “no man is an island” is an age old adage that Spartan fully understands. Instead of trying to do everything itself, Spartan plans to open its platform to third party developers, increasing the number of games available for users to play.
As a developer, you’ll be able to earn $IRON from the games you deploy onto Spartan. While there is an initial listing fee, you’ll be refunded should the games prove popular with users.
Live dealer games
An original feature not yet seen anywhere in the market, Spartan intends to incorporate a live streaming feed of croupiers dealing cards or spinning the wheel on its platform. This will hopefully create a more realistic casino-like atmosphere and add a new layer of depth to the online gambling experience. Initially this will be for games like Blackjack, Baccarat, Roulette and Sic Bo, though more might be available in the future should this feature prove popular.
The $IRON token and IDO/IJO
I briefly touched on this above, but the $IRON token is the in-game currency that will be used across the Spartan platform. There will be a total of 10 billion tokens, though only 3 billion will be pre-mined and used to fund product development, marketing and other day to day operations of running Spartan.
It’s worth mentioning that the remaining 7 billion tokens will be mined over the course of the next 10 years, subject to a process known as the Halving event. More details on this can be found on page 17 of their pitch deck here but in summary, each subsequent year will see 50% less tokens mined, making $IRON more difficult to earn and thus more valuable.
With that in mind, it would be far more beneficial for investors and players alike to purchase $IRON as early as possible before the halving occurs. Fortunately, the upcoming IDO on JulPad and IJO on Jetfuel is the perfect opportunity to do just that.
The details are as follows:
- Token supply: 20 million $IRON
- Price: $0.05
- Start date: 11th June 2021 10:01 UTC
- End date: 13th June 2021 09:51 UTC
- Token supply: 20 million $IRON
- Price: $0.05
- Start date: 13th June 2021 08:00 UTC
- End date: 13th June 2021 10:00 UTC
Seeing as this is a sponsored article, I’ll skip my personal thoughts and whether or not I will be personally participating in the upcoming IDO/IJO. Instead, DYOR by checking out their whitepaper and pitch deck to get a bit more detail into some of the topics I touched upon above.
Signing off for now.