Gambling means wagering money, currency or any other asset of value upon an unpredictable and unknown outcome of an event. Gambling has been with us for over 5000 years. Back then the people used to wager money on the roll of a die. Gambling has taken a massive upsurge today. Thousands of legal gambling places -- casinos, have been set up with the biggest ones making billions of dollars a year. Gambling is a very attractive and an addictive advent, after all, who doesn't like easy money, and the ones who loose, have God to blame.
Gambling industry makes a total contribution of 135 Billion USD to the United States economy itself. As a global community, the gambling industry makes more than 400 Billion USD a year. Such high statistics show how deep and strongly the gambling industry is set up. However, with so much digital development it was not long until people realized that they can gamble right from their homes and personal computers. The internet and the digitalization it brought, changed the world a lot.
With internet's interconnectivity, it was only sometimes that people realize the potential of online gambling industry which has been efficiently working for around a decade now. The industry and its numbers are not as big as the Global yield but online gambling amounts to almost 8-10% of it, which is about 30 -- 40 Billion Dollars a year. And given that these platforms require much less investment than the real world casinos, 40 Billion Dollars is a lot of money. However, there are reasons to believe that the industry -- online gambling, is nowhere near its actual potential.
The biggest of the reasons being the opacity of the platforms, inefficient and insecure transaction procedures. The opacity of the platform doesn't allow anyone to actually know how the platforms are working. Are the online outcomes actually random or they are just being fooled by some algorithm to spend more and more money? All this makes the industry much less efficient and lacking from the actual growth it can achieve. When everything is hidden, trusting the outcome of a simple game isn't something that can be trusted.
What can be the solution? The Blockchain.
Winiota
Winiota is a next-generation blockchain based online gambling platform. The blockchain makes the platform transparent and makes its transactions easier, faster and more secure. The platform will allow its users to wager on sports games outcomes as well as have its own gambling games. The platform will further start accepting wagers in all the other major cryptocurrencies apart from their own tokens (WIT).
Winiota already has developed a demo game which can be played on www.demo.winiota.com.
Winiota ICO review and token details
Token Symbol: WIT
Price: 1ETH = 22,000WIT
Accepted currencies: IOTA, ETH, BCH, LTC
Soft Cap: 2,400 ETH
Hard Cap: 24,000 ETH
Conclusion
The gambling industry is one of the most earning industries of the world. With over 400 Billion dollars yearly yield and millions of customers, there is no doubt in denying how colossal the gambling industries have become. Online gambling is no less. With a limited and a lesser amount of investment the online industry has a potential to outreach a bigger customer base globally. However, as of now, there is no telling what the online gambling platforms have up their sleeves to rob people of their money.
This is where the blockchain comes in. The blockchain is being employed to revolutionize most of the opaque and thus, untrustworthy platforms existing today, not just in gambling but in all other fields.
Winiota has one of the biggest technological development at their dispersal and yes, they have the potential to change the face of the online gambling industry.
Website - https://www.winiota.com/
Whitepaper - https://www.winiota.com/assets/winiota_whitepaper_official_english.pdf
ANN - https://bitcointalk.org/index.php?topic=4216831.0
Telegram - https://t.me/winiotaofficial
Published by - coineaglebt
Btalkprofile - https://bitcointalk.org/index.php?action=profile;u=1936073