Online Gambling and Dragon Coins

Online gambling has been one of the first applications on blockchain since the invention of Bitcoin but mass market adoption of blockchain has only really started in 2017. Dragon Inc is a crypto company that is focusing on offline gambling and junket operations. So what does Dragon and the online gambling have in common? Read on to understand the case for Dragon in the online gambling world.   

Despite the publicity and increasing use case, gambling on the blockchain still only make up a small percentage of the overall online gambling market. Each gambling DApp and portal accepts Bitcoin and various cryptocurrencies as well as their own crypto coin but none has yet to capture a sizeable market.

The other problem with the online gambling industry has been accusations of fraud and cheating by players as well as the portals themselves. Many online gaming sites have either gone bankrupt or have been shut down by authorities since 2011. User deposits in the millions of dollars have yet to be returned to players, regardless of fiat or crypto.

The blockchain technology hold substantial promise for bringing trust into online gambling and driving higher revenues for gambling. By integrating blockchain technology, all parties benefit from the permanent record of a verifiable, unchangeable transaction ledger. In other words, an online gambling platform using this technology provides transparency at the transaction level.

Since last year, many companies have started to investigate how blockchain technology could solve specific problems and help boost the online gambling industry. The unalterable open ledger that a blockchain provides, viewable to anyone, is perfectly suited for online gambling and can provide players assurance of their funds and whether the gambling was held fairly.

But what about the business case and the customers? Where will they come from?  
 

All online gambling portals struggle with acquiring customers. Their customers acquisition costs are sky high and can easily run into hundreds or thousands per customer. The reason being that each portal markets their online gambling to customers who may be new to gambling so as to acquire a new customer. Or they will market their portal to an existing gambler from another site, hoping to pull him over.  
 

What if an entire demographic is made up of gamblers?  

That is what Dragon is offering. All cryptocurrencies holders are made up of a mixed bag of people; investors, traders, early adopters and geeks. But the majority of holders of Dragon Coins will be junkets and gamblers. And mind you, these are VIP gamblers who love the thrill of gambling; offline and online. Even during the clampdown by China, these gamblers were driving the gambling activities in many jurisdiction by “proxy gambling” whereby they call an agent or runner deployed at the casino floor to place bets for them.

Dragon holders are the perfect customers to be marketed to for any online gambling portal. They are a goldmine and if any gambling portal accepts Dragon Coins DRG, they are basically opening their doors to a targeted trove of super rich gamblers.  

Each gambling portal, whether on blockchain or not, can have the most advanced technologies in terms of ensuring fairness or injecting the most fun in gambling. But if they have do not have the business acumen nor the correct demographics to target, they will not be able to flourish in this sea of competition.  

All online gambling site will do well to consider adding Dragon Coins to their portal and to be market themselves to this very elite and rich segment of gamblers. Million dollar bets are not uncommon and business owners of online gambling portal ought to be knocking on Dragon’s door now.