Rollbit’s Role in the Crypto Gambling Scene

Market Opportunity

The global online gambling and betting industry was valued at $85.62 billion?in 2023 and is forecasted to grow to $133.59 billion by 2029. Blockchain is a key growth driver for the future, offering better transparency, lower costs, and stronger security. It also speeds up payments and supports decentralized betting platforms, making it more attractive to a global audience.

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The user count is anticipated to hit 352.2 million by 2028, with penetration growing from 2.5% in 2024 to 3.0% by 2028.

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Sports betting currently leads the market, followed by casino games, driven by partnerships, user-friendly interfaces, and quick gameplay. Within this space, Rollbit?stands out, generating around?$20 million?in monthly revenue and implementing a controversial?buy-and-burn mechanism.?With recent expansions and top-tier partnerships, Rollbit might be well positioned to capture a larger share of this growing sector, especially as market liquidity increases.

Rollbit’s Product Suite

Rollbit launched in February 2020 as a crypto-focused gambling platform, offering casino games, sports betting, and high-leverage trading. It quickly attracted?over 1 million users and $40 million in daily wagers.

The native token, $RLB, was initially launched on Solana but later migrated?to Ethereum for better scalability, a decision some now question due to Solana’s strong comeback. Rollbit’s buy and burn mechanism?uses a portion of revenue to reduce token supply, potentially boosting its value over time.

Rollbit offers a diverse suite of products that span across gambling, trading, and NFTs.. Key offerings include:

1. Casino Games & In-House Games: Rollbit provides?traditional casino games like slots, roulette, and blackjack from over 60 providers, as well as unique in-house games such as Rollercoaster, X-Roulette, and X-Crash.
2. Sports Betting:?Rollbit’s sportsbook covers over 40 sports and includes parlay multipliers, letting users combine bets for larger payouts. Sports Rollbot NFT holders get additional combo boosts and can earn up to 40% of the sportsbook’s profits based on their staking.
3. Bonus Battles & Challenges: These features add a social element to regular games, allowing users to compete with each other in special events.
4. Leveraged Crypto Trading: Rollbit allows?users to trade with up to 1000x leverage on top cryptocurrencies without traditional bid-offer spreads, providing an appealing value proposition for high-frequency traders.
5. RLB Lottery: Users can participate?in a regular lottery using their $RLB tokens, with a portion of the platform’s revenue used to buy $RLB from the market to add to the prize pool. This buy and burn mechanism helps reduce the circulating supply while offering rewards to active participants.
6. NFT Integration: Rollbit has incorporated?NFT-based products such as NFT Lootboxes, a gas-less NFT marketplace, and NFT collateralized loans. The platform also offers Rollbot NFTs, which provide special benefits like profit sharing and VIP membership.
7. Crypto Portfolio Management: Users can buy, hold, and trade over 125 cryptocurrencies in one place.

Rollbit’s Market Standing

Rollbit started 2023 with strong momentum, and the $RLB token appreciated significantly during this period. On-chain metrics showed?consistent daily activity and a steady flow of deposits, reflecting solid user engagement on the platform. With the gambling market's immense potential, many expected this segment to continue growing. Below is a chart illustrating $RBL’s price action and key catalysts throughout 2023.

However, as 2024 approached, $RBL experienced a significant price drop despite the ongoing token burns. The reduced supply couldn’t offset the decline when large holders decided to sell, coinciding with broader bearish sentiment and a downturn in the overall crypto market.

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Despite its volatility, Rollbit's revenue remains?quite strong. In the past 30 days, the casino segment alone generated almost $20 million, with 10% of this amount allocated to buybacks and burns. Additionally, Rollbit’s futures trading brought in around $3.8 million, contributing 30% to buybacks and burns, while sports revenue hit $2.2 million, with 20% allocated for the same purpose.

Altogether, Rollbit burned 36,267,815 $RLB tokens in the past month, valued at approximately $3.1 million. This brings the total amount burned to 51% of the entire supply, significantly reducing the circulating tokens and increasing scarcity.

On-chain data shows?that daily user activity has remained consistent, highlighting strong engagement and ongoing platform usage.

Despite strong revenue and healthy metrics, Rollbit has seen better performance in the past. Even after introducing the buy and burn mechanism on August 9, 2023, $RLB’s price continued to decline, indicating that other market factors are at play—mainly the concentration of supply among a few large holders selling their positions.

Let’s dive deeper into potential catalysts that could shape Rollbit's outlook moving forward.

Strategic Partnerships, Betting Season, & Product Expansion

The next few months are packed with major sports events that could boost Rollbit’s betting activity. In October, the Cricket World Cup runs from Oct 10 to Nov 26, the NBA season starts on Oct 22, and the UEFA Champions League is in full swing. November features the Breeders' Cup on Nov 1-2, the Las Vegas Grand Prix from Nov 21-23, and the ATP Finals from Nov 10-17. In December, the FIFA Club World Cup and the NFL playoff race will take center?stage.

With high-profile events clustered together, Rollbit could see increased engagement and revenue growth.

Rollbit has also partnered with several major names to boost its visibility, including:

• FaZe Clan: A multi-million dollar, multi-year deal?with FaZe Clan’s Counter-Strike team, aimed at reaching a wider gaming and esports audience.
• Southampton FC: Sponsorship?for the 2024/2025 season, featuring Rollbit’s logo on the team shirts and around the stadium during Premier League games.
• SSC Napoli: Includes?promotions and fan activities around key matches, increasing exposure in the European soccer market.

These partnerships enhance Rollbit’s presence in both traditional sports and esports, aligning its brand with well-known teams and events.

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Rollbit is licensed in Curacao and operates legally in over 160 countries. However, due to compliance and regulatory restrictions, it is unavailable in key markets like the USA, Australia, Germany, France, and Italy. Users from these regions are unable to access its services or register accounts.

Recently, Rollbit expanded?into the UK through a partnership with Grace Media, launching under a white-label agreement in July 2024. This move allows Rollbit to operate legally in the UK and coincides with its role as the official front-of-shirt sponsor?for Premier League club Southampton FC for the 2024/25 season, marking a significant step in its global expansion.

Rumors?suggest?the team is working on a mobile app, which could significantly boost usage in 2024. A mobile presence would align with current trends, as a large percentage of online gambling occurs on mobile devices.This expansion could position Rollbit to capture more market share and attract a broader user base.

Competitors

Rollbit competes with both traditional betting platforms and crypto casinos, each with its own strengths and market position. Let’s take a look at some of the main crypto casino competitors:

• Stake: Stake?is the?top?crypto casino since 2017, generating $2.6 billion in revenue last year. Its strong brand visibility comes from big partnerships like Drake and the UFC. While Stake dominates in gambling, Rollbit stands out with its trading products, NFTs, and on-chain features.
• BetFury:?BetFury?focuses on user engagement through its BFG token and cashback rewards. It offers staking, mining rewards, and a solid loyalty program. While BetFury rewards long-term users, Rollbit targets both traders and gamblers with its more advanced financial products.
• BC.Game: BC.Game?focuses on supporting multiple currencies and gamified user engagement. It offers daily rewards, challenges, and supports over 50 cryptocurrencies. While BC.Game’s features appeal to casual users, Rollbit’s trading options and buyback mechanisms cater to a wider audience.
• Roobet: Roobet?focuses on its loyalty program and exclusive in-house games. It builds a strong community through content creators and a unique player experience. While Roobet stands out with its content and loyalty offerings, it doesn’t have Rollbit’s trading features and financial products.
• Shuffle: Shuffle?is a new entrant that recently launched its token with a Buy & Burn mechanism. It has a market cap of $40M and burned 2% of its supply in just 3 months. With complete on-chain transparency and decentralized?gameplay, it appeals to Web3 enthusiasts. Although Rollbit is more established with a wider range of games, Shuffle’s focus on transparency and supply reduction might attract users seeking innovative Web3 options.

Rollbit stands out by mixing casino games with advanced trading products like futures and NFTs, which most competitors don’t have. Stake leads in brand presence, and Shuffle focuses on transparency, but Rollbit blends gambling and trading in a unique way.

Tokenomics

$RLB is Rollbit’s native utility token, initially launched on the Solana blockchain and later migrated to Ethereum in June 2023. It was introduced to reward Rollbit’s community and enhance the platform’s gambling and trading ecosystem. $RLB holders can benefit from increased rakeback percentages, reduced trading fees, and exclusive platform features.

Around 77% of $RLB was airdropped?to Rollbot NFT holders, rewarding early supporters. The remaining tokens are used for community engagement, airdrops, and team allocations.

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In June 2023, $RLB transitioned from Solana to the Ethereum network to improve accessibility and expand its ecosystem. According to the team, the migration was necessary to unlock growth opportunities that were restricted on Solana. The Solana version of $RLB stopped being supported after May 1, 2024.

A portion of Rollbit’s daily revenue is dedicated to buying and burning $RLB, reducing its circulating supply. This process is verifiable on-chain and updated in real-time on Rollbit’s dashboard, with detailed tracking available through @RLBTracker?on X.

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Nansen data shows that since early July, smart money holders have slightly renewed their interest in $RLB. Additionally, the RLB balance in top holder wallets has been gradually decreasing, reducing token concentration.

Future Plans? Since last December, Rollbit has been exploring a potential switch from a buyback and burn model to a revenue sharing model, allowing $RLB holders to stake their tokens and earn a share of Rollbit’s revenue. However, no decision has been made yet. If implemented, this shift could align the token’s value more closely with platform growth.

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Bullish Fundamental Factors

There’s a potential case for Rollbit’s token value to rise in the near future, based on several factors:

• Global M2 money supply is increasing, and historically, BTC follows a few months later, suggesting potential gains in Q4. At the same time, stablecoin supply has hit a new peak, signaling?fresh liquidity could soon enter the market.
• GambleFi is a growing sector with high potential, tapping into a large existing market.
• Rumors?indicate the team is developing a mobile app, which could drive significant user growth in 2024.
• Rollbit’s fundamentals are solid, backed by steady revenue generation and consistent performance.
• The UK expansion targets one of the largest gambling markets, which could significantly boost platform activity.
• Larger holders have already exited their positions, indicating less selling pressure for the token.

These catalysts, combined with Rollbit’s strategic growth moves, could suggest a positive outlook for the token’s performance, however:

Bearish Fundamental Factors

• Compared to other protocols, Rollbit still has an overall lack of transparency, making it difficult to verify its revenue and futures volume figures. The absence of a clear roadmap creates uncertainty about the project’s future direction.
• The whitepaper lacks essential details, raising potential red flags. Other protocols offer in-depth documentation that thoroughly covers technical specifications, future plans, and security measures.
• Some elements of the project, like the buy and burn mechanisms appear overly ambitious, raising concerns about sustainability and long-term viability. The Buyback program may also provide large holders liquidity to exit, ?potentially putting downward pressure on the token price.
• Rollbit faces significant regulatory challenges, which are common in the crypto casino space, posing a major risk to operations. Stringent regulations in the gambling industry could make listings on Tier 1 exchanges challenging, despite recent hints?of a potential listing, which could reduce liquidity and hinder growth.
• Recent vulnerabilities in similar platforms, such as the $41 million hack?at Stake, highlight the risks and security concerns for Crypto Casinos, including Rollbit.
• Competition from well-established players like Stake limits Rollbit’s potential for growth. Similarly, smaller DeFi platforms struggle to gain traction against major players like Uniswap and Aave.
• The migration from Solana to Ethereum, initially seen as a positive move during Solana’s struggles, is now questionable as Solana has made a strong recovery and built a resilient user base.

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