With the COVID-19 situation confining people to their homes, there’s a lot more population playing on the internet. They have even outperformed their physical counterparts by massive numbers. No wonder the online gambling and gaming ecosystem are at their finest phase! In fact, the market is so alluring that many global companies want to try their luck. ONU- an all-in-one, blockchain-based, fully decentralized betting and wagering solution-has taken the multi-billion Dollar industry as an opportunity, and made it a reality.
More the Figure, More the Challenges
According to some new studies, online gambling is about to witness massive growth, the whole market is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027. In the US alone, it will reach a value of $102.9 billion by 2025 (Source: GrandViewResearch). Besides, Statista.com estimates that the global online gambling market will be valued at more than $94 billion USD in 2024.
At the same time, the global gaming industry is expected to register a CAGR of 12% during the forecast period 2020-2025, as reported by PRNewswire. By 2020, players will spend USD 4.5 billion on immersive gaming. It is 20 times more enjoyable and convenient than traditional alternatives. GlobalWebIndex’s data also indicates that more than 1 billion people around the world now stream games over the internet each month.
Online gambling and gaming industry is gaining momentum. But more the figure, more the challenges.
Trust has long been considered to be one of the biggest concerns for online gamblers and players. Besides, issues such as piracy, laws and regulations, and concerns relating to fraud during transactions are expected to hamper the market. This economy of the two industry is completely controlled by the suppliers while players do want fairness and transparency when it comes to transactions and ownership of assets.
By providing a 100% transparency, security and fairness platform to all involved parties-players, providers, operators and affiliates, ONU sparks a revolution.
What Makes ONU Special?
ONU has successfully built a decentralized public system for the gambling & gaming industry consisting of an automated value distribution protocol acting as a mechanism of incentives powered by smart contracts along with a system that is capable of providing equally unpredictable pseudorandom numbers for the gamers. And as a result, the system can potentially reduce the risk of fraud, minimizing overheads for casino operators, allowing higher payouts for the players and monetizing developers’ efforts. This will eventually enable the development of new and more sustainable business models. For gamers and gamblers, they will get a useful tool from ONU that including decentralized asset exchanges, verifiable scarcity of virtual objects and collectibles, fast and secure payment networks, and an ability for developers to properly monetize their creations.
“ONU is not ‘most businesses’ and we are not a startup in MVP (minimum viable product) stage. What we are is an experienced executive team utilizing technology”. As development team explained in an interview, “It can be used for a variety of industries. Gambling and gaming industry are all high on our list of priorities.”
According to the whitepaper released recently, ONU has successfully released ONUPAY，ONUFUND as well as ONUPAY POS. And by integrating with leading exchanges to connect multiple gambling (especially social gambling) content providers trusted world-class operators and quality players, ONU aims to create a most pristine, transparent gaming environment, where any deposit, withdrawal and fund distribution transaction, every bet staked, slot spun, card revealed, section scratched and roulette outcome generated can be monitored by anyone, at any given time, without any centralized control.
“And ONU is the cryptocurrency/ utility token – the casino chip, if you will – created to be used by participants in exchange for value and services on offer. All bets, wins, bonuses, incentives and rewards will be paid in ONU.” said one of the founder-members of ONU.
He added: “As a result of nearly 20 years of experience in the online gambling and gaming industry and our work, we have gained more than 100 partners, many of whom are already preparing to recognize ONU as their cryptocurrency.”
Lots of challenges faced by players and operators in the gambling and gaming industry are set for resolution with blockchain technology … ONU just reinvented the wheel, but one specifically designed for those awe-inspiring industries and for the people who want to have great experiences, not mediocre ones.”
Undoubtedly, the collision of blockchain technology and gambling as well as gaming holds great promise for the growth of industries. And their future is worth pursuing.