TronBet has reportedly recorded $41 million in weekly betting volume on its decentralised gambling platform.
TronBet runs on the Tron blockchain and is host to a selection of games which have player liquidity and no fees. For each bet a user places, they mine the native token for TronBet – Ante.
Ante ownership entitles the user to a share of TronBet’s daily profits when staked. Whales are able to mine Ante by betting at scale.
Daily profits have been estimated at between $75,000 to $150,000. The rewards from staking Ante are reportedly distributed in daily TRX (Tron’s cryptocurrency) tokens.
The analysis has been conducted by Twitter user Iam_Vance, who notes: “@Tronbet is fascinating: a tokenized gambling platform on Tron with real usage. $41M in betting volume in the past 7 days, top user has wagered $98M, top 20 users have wagered $455M.”
1/ @TRONbet is fascinating: a tokenized gambling platform on Tron with real usage. $41M in betting volume in the past 7 days, top user has wagered $98M, top 20 users have wagered $455M. Yearly, @TRONbet, a Dapp, is on track to make almost $36M profit with a P/E of 1. ?. Why? pic.twitter.com/REJXxTjLl7
— vance (@iam__vance) March 2, 2019
Based on the analysis conducted, Vance believes that TronBet is on track to record “almost $36M profit with a P/E (profits to earnings) ratio of 1.”
Vance suggests that part of the platform’s success is due to the token economics formulating a tight feedback loop on the product, which provides an incentive for casual users to stick with the platform and a reason for more seasoned users to come back and stake their Ante.
Vance notes it is surprising to see that more people have not clocked on to the impressive figures shown by TronBet.
In a final tweet, Vance comments: “This is real scaled adoption, but the blockchain community seems to discount gambling/gaming even though obviously a stepping stone to more sophisticated dApps (decentralised applications).”
Interested in reading more Tron-related news? Discover how 0xGames teamed with Tron Arcade to release a new game called 0xWarriors.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.