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The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. One trend in the market is introduction of bitcoin gambling. Bitcoin is a type of cryptocurrency that allows peer-to-peer payments on the Internet. With the growing popularity of bitcoins, many vendors are adopting gambling with the use of bitcoins as a currency. This is due to advantages offered by cryptocurrency over normal currency. According to the report, one driver in the market is significant contribution of the gambling industry to economy. The gambling industry makes a prominent contribution to the respective country's economy.
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Fomo3D is hardly the only blockchain-based gambling app. Of the top 10 distributed apps by money received, gambling as a category is only second to exchanges, according to DappRadar, which tracks applications that run on blockchain. Gambling-related token sales also continue to gather steam: Dragon Coin and another ICO raised nearly $1 billion, while a total of 21 other projects have garnered another $300 million through initial coin offerings, according to Autonomous Research. “You gamble some Ethereum, and it’s possible to get more,” Dragos Dunica, co-founder of app tracking service DappRadar, said in a phone interview. “At this point in Ethereum, most of the people are looking for profit, to get something back.” Ether, the cryptocurrency used on most of the networks, has slumped 74 percent since its January peak, while bigger rival Bitcoin is down by nearly 70 percent from its record high in December. Many of the gambling efforts originate from questionable and anonymous teams.
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