GambleFi
Last updated
Last updated
Gambling is one of the oldest, yet most relevant usecases for Crypto. Enabling both anonimity and provably fair odds, Crypto is highly relevant for the gambling industry, and the popularity of 'GambleFi' has increased exponentially over the last few months with the success of projects like Polymarket and Rollbit. Platforms as these turn over millions of dollars every day, as users often prefer the use of Crypto to fund gambling, highlighting aspects as speed, anonimity and fairness as key advantages. One of the most popular new GambleFi platforms is Polymarket, which has seen an especially remarkable rise. Polymarket is a platform on which users can use Crypto to bet on the outcome of real world events (i.e. the outcome of the next US presidential elections). Polymarket allows users to buy and sell 'shares' of real world events. As an example - punters buy a 'yes' share if they believe Donald Trump will be the next president. If Trump then indeed proceeds to win the presidential election, the 'yes' shares will be cashed out and you the investor makes a profit. The buyers of 'no' shares in this case, lose their money. Polymarket's concept, which combines the GambleFi and 'Real World Assets' meta, is highly popular. The platform, which serves as the main inspiration for Punter AI's flagship product, has recently , highlighting the immense momentum of real world events gambling platforms. Gamifying gambling, and introducing the aspect of 'shares' versus 'bets', has thus drawn the attraction of both retail and institutional investors. Moreover, the events which you can bet on have the potential to go viral, as highlighted by the moment Polymarket punters bet on the fate of the . While Polymarket acts as the clear leader in the predictions market niche, the team behind Punter AI believes there to be room for a competitor on Ethereum. Polymarket, while open for Crypto investors across blockchains, is operated and built on Polygon, which has significantly less traffic than Ethereum. Moreover, with our flagship puntermarket.io platform, we have enhanced the Polymarket offering with several additional aspects, including what we believe to be true decentralization, and low fees, essentially creating a superior product. These aspects are covered in detail in the next chapter of this whitepaper () and the chapter after ().