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Crypto gambling startup — WinWinCoin to launch its Initial Coin Offering

Estonia-based Gambling startup WinWinCoin that aims to combine various online gambling formats into one single loyalty program — like a supergroup — and to leverage blockchain technology to increase profits for all platform participants.

The comapny is all set to launch its Initial Coin Offering on 15th June, according to InWara’s Market Intelligence platform.

How sought-after is the Gambling industry exactly?

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The online gambling industry is actually relatively new in most parts of the world with a recent spurt in the number of online gambling games. To date, Gambling startups have raised a whopping $281 million to date, a staggering amount when considering the infancy of the industry.

Although, startups in similar entertainment industries such as Gaming and Media and Entertainment have raised much higher amounts. For example, Startups in the Media and Entertainment industry have raised a whopping $1.5 billion.

WinWinCoin’s ambitious plan-

PricewaterhouseCoopers estimates that the gambling industry has grown by over three times in the last ten years and is expected to maintain that growth in the coming years. Currently, online gambling is legalized in over 80 countries with around 1500 licensed online operators and attracting upwards of 1 billion active users annually. The main online gambling variants include — casino games, card games, sports betting etc.

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The total annual revenue of the online gaming industry is expected to increase by almost 30% during the period from 2018–2020 and reach a whopping 56.2 billion Euros.

The problems faced in the industry are — high transaction costs pf payment systems, low speed of payments, the presence of malicious participants, limit on transactions as a consequence of compliance with AML policy etc.

WinWinCoin aims to solve this problem by forming a consolidation of online gaming operators, this move is expected to enable coordinated actions to promote a single product. — WWC a single cryptocurrency and payment system. 
This move is expected to solve a majority of the problems faced by the industry, as WWC crypto token is designed to have low transaction fees, no commissions, the anonymity of market participants among numerous other benefits.

Here’s a comparison of the WWC against other forms of payment -

 

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Notably, WinWinCoin has purportedly secured partnerships with several online gambling platforms such a Pelican Poker, Loki Casino, Spy Casino among a few others. The end goal of the company is to become omnipresent throughout the gambling industry.

 

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