7 Key Drivers Behind the Success of BetDice and Increasing Demand for DICE Tokens
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Written by Ryan Charleston
Below are 7 reasons why I think BetDice has become the hottest thing in the crypto markets right now.
The DICE is on a roll! 🎲
1 - Staking & Profit Sharing
The #1 thing currently fuelling the success of BetDice and DICE token appreciation, is its staking and dividend system. BetDice shares 50% of all its profits with DICE token holders- and these profits have been off the charts!
Staked DICE token holders receive hourly dividends, mostly in the form of EOS, plus 12 other EOS based tokens. More tokens are added to the gaming platform every week or two and could eventually be 100’s of coins some day! BetDice dividends are paid out proportionally (every hour) based on the amount each DICE holder stakes relative to the total DICE staked.
BetDice offers something both online and traditional casinos don’t offer, that is a chance to be the house, own a piece of a casino, and share in it’s profits!
Since the BetDice staking system went live in mid October (2018), over 300 million EOS have been spent in BetDice games. Wait, what? Yes, almost ONE-THIRD of all EOS in circulation have gone through BetDice in the last 2 months! This equates to over $1.2 billion in bet volume (based on the USD value of EOS at the end of each day).
In the past 30 days, BetDice has paid token holders over $5.5 million in EOS dividends with annualized ROI averaging over 100% during this time.
BetDice remains a bright spot this past month, in a brutal crypto market, which as see most cryptocurrency prices down over 50%.
Furthermore, DICE staking dividends are in such demand, 90 - 95% of all tokens in circulation have remained staked since mid-October. This has kept the number of circulating DICE low, and helped DICE appreciate 50X against EOS in the past 2 months. 2,000 EOS traded for DICE 2 months ago wold be worth 100,000 EOS today!
The chart above shows the steady climb in the DICE/EOS value and recent acceleration in appreciation over the past week.
2 - Real Intrinsic Token Value
DICE tokens are one of the few cryptocurrencies with real intrinsic value.
With the ICO market grinding to a halt over the past 6 months, many “utility tokens” have lost 90% or more of their value. This has forced many crypto investors to re-evaluate and recalibrate their portfolios. They’re now going back to the basics and fundamentals of investing. Investors are selling off coins with no true utility, no intrinsic value, and coins a part of projects with teams that have insufficient cashflow or capital to survive long-term.
Unlike most tokens, BetDice has real revenues and real profits driving the demand and price of DICE. By paying dividends to staked token holders, DICE tokens have intrinsic value based on actual profits. Profits are realized based on a small house edge collected (in aggregate) on all BetDice games. According to my records, the house edge has average around 1.11% over the past 2 months.
3 - Growing Token Holder Diversification
Over the past 2 months, the number of DICE token holders has surged from around 50,000 to 71,000, showing that more people are interested in owning and holding DICE, further diversifying ownership of the token.
With more token holders comes more stability and price support, and further validating it’s usefulness and purpose.
In the chart above (courtesy of @webdave2000, “Corts” on Telegram) The number of EOS wallets holding DICE jumped almost 9% in the past 3 weeks!
4 - Reliable & Experienced Team
According to the BetDice white paper, the BetDice is team is comprised of talented software engineers in China, experienced in web and mobile game development. Over the last 7 years they’ve built games handling over 1M active users with over 10M downloads.
From my experience interacting with the team on Telegram, they seem to be quite reliable and competent. The team is relentlessly pursuing their goal to become one of the worlds largest and most successful online gaming operations (not just a simple crypto gambling app).
The BetDice team has also been involved in blockchain development since 2015 and remains a strong supporter of EOS and the EOS community. Through BetDice, the team offers a great example of the power, speed, and scalability of the EOS blockchain.
So far, the team has under-promised and over-delivered on almost every aspect of BetDice; continuously releasing new games, features, UI/UX improvements, infrastructure and security upgrades.
5 - Rebranding & Marketability
Adding to an already solid brand position and marketability, BetDice will soon rebrand itself to simply “DICE”, with a new logo and website launching at the end of the December or early January. This rebranding idea was actually something I suggested in the BetDice Telegram group in early November.
It was amazing to see the team take my suggestion seriously, and consider a bold much that’s such a visible and nontrivial aspect of their brand. It shows the team listens to their token holders, takes feedback, and can move on ideas quickly. Below is the new DICE logo coming soon!
In only a few months, BetDice has built up a the reputation as a leader, with a first-mover advantage in the crypto gaming space.
BetDice is now beating the competition by driving sustainable user and bet volume growth through mining incentives, bonus and referral programs, and other promotions.
According to a blog update last month, the BetDice team is also preparing to advertise on Google.
6 - Awesome Games
BetDice currently offers several awesome online casino games, including a simple dice game (from which it gets its name) plus a daily lottery and lucky draw game.
In the past month, BetDice launched Baccarat and Sic Bo, two of the most popular games in Asia. These games have been well received by a growing number of players, even attracting a few high rollers, individually betting more than $30,000 in EOS on successive rounds of Baccarat.
In December, BetDice plans to release two more games, including Blackjack and Roulette; two of the most popular games in western cultures and traditional casinos.
The BetDice team also has plans to expand it’s reach in 2019 with the launch of PVP games like Poker, Texas Hold’em, and Craps. Other potential additions to BetDice could include a Mega Lottery (similar to PowerBall in the U.S.), sports betting, horse racing, and prediction markets.
7 - Cross-Chain Compatibility + Stable Token
Last, but not least, was the big news that BetDice will be adding Bitcoin, Ether, and Tether betting options to all their games and dividend pools. This cross-chain compatibility and stable token implementation will be live on December 12th, thanks to their partnership with Bitpie.
Integration with the Bitpie gateway API, will allow for BTC, ETH and USDT deposits on BetDice, and conversion into EOS-based tokens (EBTC, EETH, and EUSD). These EOS-based tokens will hold a 1:1 peg to the original tokens, secured inside an EOS smart contract, and redeemable at any time.
This innovative development will give BetDice users the ability to play games without the need to have an EOS account. This represents a key first step in on-boarding users from other blockchains and cryptocurrencies, and further expands the reach of DICE into the broader online gaming market.
It’s exciting to see what this development will mean, not only for BetDice, but for the entire EOS ecosystem and EOS dapps going forward.
So, there you have it! These are the top 7 factors I see driving the success and interest in BetDice and DICE tokens.
Disclosure: I (proudly) own DICE and EOS tokens.
If you enjoy this article please share and give me some claps. Follow me on Medium and stay tuned for my next article on BetDice analytics and token metrics.
Also be sure to follow BetDice developments and be a part of the rapidly growing community on Telegram and Twitter.
Disclaimer: The information provided in this article is for educational purposes only and should not be treated as investment advice. I am not a financial advisor, and I am not giving financial advice. I encourage you to conduct your own research and/or consult with a licensee financial advisor before making any investment decision. Cryptocurrencies are a new digital asset class that are highly speculative and risky.