Can iGaming Ever Become Safe and Transparent Business?
A few years ago, the offline iGaming market lost players trust because of the numerous facts of fraud. Online casinos also have lost customers trust, because of their fear that casinos can modify their databases behindhand.
The change occurred with the advent of blockchain technology. Data has ceased to be stored on centralized servers and the industry has ceased to show signs of slowing down. Conversely, the global iGaming market will grow to 1 trillion dollars by 2021. This is facilitated by the popularity of smartphones and
mobile Internet. A study by SuperData Research found that mobile iGaming was up 75%, and that it now accounts for over 25% of all iGaming.
It is impossible to calculate the exact number of blockchain-based projects on iGaming market. Most of them are ephemeral ones that are designed according to a standard template and hope that the user will not look for an alternative. However, there are standalone projects, for example, Luckchemy, which are worth paying attention to. Luckchemy already has a working MVP.
Comparing Luckchemy with other iGaming blockchain-based projects such as TrueFlip, SmartBillions, and TrueGame it is worth noting its richer functionality. Others will have only one or a couple of games, while Luckchemy will have a lottery, scratchers, slots, bets, dice and many other games – both its own and from 3rd-party developers. It’s also interesting that 99% of the funds from the
tickets sold in the lottery will go to the prize fund. For other platforms, these numbers are much less.
Masa Suganuma, who has been working in iGaming industry over 18 years says, these numbers can become a key advantage for Luckchemy: “The biggest advantage the blockchain technology brings is higher number of turnover which is Luckchemy’s strength. Since security cost of iGaming venue links the amount of deduction on the games, the turnover will have certain higher limitation. The 99% turn over seems to be impossible with current operation. This higher number (99%) is very attractive to the player and it could be a good motivation to play game. Anyway, reducing running cost (for security and maintenance) is the “key” for iGaming operators and they will put their eyes on those technologies in 2018”.
TrueGame, the main Luckchemy’s competitor, sends only 75% of the funds from the tickets sale to the prize fund. However, they also have a reserve fund and a provably fair system of winnings with instant payment speed. From the projects submitted for comparison, only TrueGame plans to provide White Label solutions. But even the nearest competitor doesn’t plan to integrate applications from third-party developers, but Luckchemy will integrate.
Such a high functional level must be confirmed by a corresponding token. So Luckchemy has such a token. The system assigns a unique identifier for each token. All transactions are secured and verified in order to avoid fraud practices. All transactions within the platform are virtual, which means players will not have to pay gas for transactions while playing games.
LUK tokens will be the single currency of the platform. Players will be able to change LUK to ETH at any time via exchanges.
Luckchemy’s private sale just ended up, and team collected $500 000. Pre-sale opens on April 30, and Luckchemy offers a 40% discount for this stage. So now is definitely the best time to make a purchase of LUK tokens.
Those who buy tokens during an ICO pre-sale will receive three benefits at once. First, an opportunity to buy tokens with a discount, and then, when the project will be launched and released to the crypto exchanges, sell them with a higher price. Second is a participation in an exclusive monthly lottery. Every 7PM GMT on the last day of each month Luckchemy will take a snapshot of a LUK chain and through the server seed hash choose 100 winning tokens. The more tokens you have the bigger is your chance to win. Third, it is an opportunity to influence the game development by voting.
In May, Luckchemy will receive the jurisdiction of Gibraltar and Curacao. By the
end of the year, it is planned to prepare and launch White Label solution. Also team will improve the usability of the platform and add new own games and games from 3rd party developers.
Luckchemy will offer iGaming business what it had been lacking in previous years — honesty and openness. All market participants will benefit from this.