The rise of tech-innovation in crypto wagering

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The growth of crypto wagering and Web 3.0 are revolutionizing traditional wagering. The virtual worlds like Decentraland are reshaping the real-world wagering ecosystem, presenting new opportunities and risks. In Decentraland, players need to purchase or transfer cryptocurrency tokens (MANA or DAI) to their Decentral Games wallet to participate in games. Online crypto operators, similar to popular fiat operators like FanDuel and DraftKings, are experiencing remarkable turnover. According to Softswiss, the number of bets placed using cryptocurrency increased by 181% year-on-year in Q3 2021. Crypto-focused Sportsbet.io, which partners with renowned football clubs such as Arsenal, Southampton, and São Paolo, records a turnover of USD 2.7 billion per month. Monetizing the metaverse is an area of focus for gaming and wagering operators, with companies like Admix offering B2B services to game developers and advertisers. Admix specializes in creating and publishing in-play ads that do not disrupt the player experience. They have numerous global brands as clients and generate revenue by leasing land in virtual worlds like Decentraland and The Sandbox to their existing clients. Admix’s success in monetizing Web 3.0 demonstrates the potential for growth in crypto gaming and wagering. Dominant Web 2.0 companies took several years to generate meaningful revenue and achieve extraordinary growth. The continued development of burgeoning worlds like Decentraland and The Sandbox will shape the path to monetization. Waterhouse VC, an investment firm, has achieved a total return of 2,057% since August 2019.

Table:

Company Revenue (US$m) First Full Year Revenue (US$m) First Full Year +2 Revenue (US$m) First Full Year +5 Revenue (US$m) First Full Year +10 Revenue (US$m) First Full Year +15
Meta (Founded 2004) 915 3,777 12,466 70,697 117,929
Google (Founded 1998) 0.2 703 2,370 65,670 257,637
Amazon (Founded 1994) 0.5 147.8 2,760 8,490 34,204
Twitter (Founded 2006) 0 410 62,530 5,077 5,077
Nvidia (Founded 1993) 13.3 374.5 1,369 3,069 26,914

Note: The information provided in this document is based on publicly available information and should not be considered as financial product advice.

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Stue Temoha is an expert writer with a profound passion for gambling and online gaming. With a career spanning over a decade, Stue has established himself as a trusted authority in the industry, offering deep insights into casinos, sports betting, poker, and the latest trends in online gambling. His writing is distinguished by meticulous research, clear analysis, and an engaging narrative style that demystifies complex concepts for readers of all levels. Stue's articles are a go-to resource for detailed reviews, strategic advice, and up-to-date industry trends, helping both novice and experienced gamblers navigate the dynamic gaming landscape.
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