The global gambling industry has recorded steady growth over the last few years and data suggests that the market value will reach around $565.4 billion by 2022. Following the proliferation of smartphones and the adoption of technological advancements, gambling has moved online, prioritizing key buying drivers such as convenience and accessibility. More than ever, gamblers can complete the entire betting process and even cash out from the comfort of their homes.
The advent of blockchain technology is adding a new twist to the global gambling industry. The market is slowly shifting towards the use of blockchain due to the tech’s rather apparent benefits of easy worldwide access and eliminating of trust concerns.
Changing the Narrative
One company that is attempting to bridge the gap between gambling and blockchain tech is Powerbalt. Powerbalt is a blockchain-based lottery system that allows on-chain betting on the official US PowerBall draw which is held twice a week.
The project draws trust from the official US Powerball lottery, since winners are selected based on the numbers drawn at the official event. However, the odds of winning on Powerbalt are 7 times higher than on the official draw. This is in addition to a reward that is 70 times higher than the official event.
PWRB is the native currency of the platform and all bets on the platform are placed using PWRB. Automated payouts are also made in the same currency. Whilst it is possible to place a bet on one, two, or three winning numbers, as expected, three-number bets offer greater rewards reaching up to 350,000%. Furthermore, when a bet is placed, the associated coins are burned on the chain.
As part of efforts to reach a wider audience and gain traction ahead of its exchange listing, Powerbalt has collaborated with Flitsnode to host a joint presale.
The presale has been divided into several phases with the first phase already on. The first phase is expected to run from June 11 to July 2 in the following order:
- Week 1: Coin Price 9000 Sats (June 11 to June 18)
- Week 2: Coin Price 9500 Sats (June 18 to June 25)
- Week 3: Coin Price 10000 Sats (June 25 to July 2)
A maximum of 25,000 coins has been allocated to each phase. Peradventure, the coins sell out before the end of the phase, the Powerbalt team will move to the next phase.
PWRB is currently available for purchase on the Flits platform.
Powerbalt also has an offer for investors who do not wish to bet. Investors can still earn a remarkable ROI by staking PWRB tokens. The return on investment on staking PWRB starts at 300%.
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