GambleFi, the top meme coin, has made its mark in the lucrative casino and sportsbook betting industry by generating revenue. Wall Street Memes, the first major meme coin with a use case that generates revenue, announced its entry into the sector. The Wall Street Memes Casino real-time report shows the wagers and payouts, providing transparency to $WSM token holders. Additionally, the Wall Street Memes team announced a buyback program where 10% of revenues will be used to purchase tokens on the open market, benefiting all coin holders.
Wall Street Memes aims to surpass Rollbit’s $38 million monthly revenue in September. While exact figures on the size and profitability of the crypto gambling sector are difficult to obtain, Rollbit’s success serves as an indication of the potential for Wall Street Memes. Rollbit generated $38 million in revenue in September, with significant earnings from the casino, crypto futures trading, and sports betting. Net gaming revenue (NGR) is an essential metric for measuring profitability.
Wall Street Memes aligns perfectly with its target audience – predominantly male individuals under 40 who are both video gamers and financial traders. The total addressable market for Wall Street Memes is estimated to be valued at $263 billion worldwide in 2023. The online gambling industry is expected to continue expanding, with online betting revenue projected to reach $31 billion in the US alone.
Crypto gambling streaming could be Wall Street Memes’ next big play. Twitch, a popular streaming service primarily known among gamers, witnessed crypto gambling becoming one of its top 10 most popular activities before it was banned last year. However, platforms like Kick.com have attracted viewers interested in crypto gambling streams. Streamers hold significant influence over new users and can drive bidding wars among crypto gambling operators.
Wall Street Memes has plans to leverage streaming as part of its future strategy for growth in the crypto gambling sector. The industry is at the forefront of internet usage trends, with para-social relationships and the ease of use attracting users. Wall Street Memes Casino offers a seamless onboarding process through its Telegram messaging app version, allowing users to start gambling within seconds. With a market capitalization of $43 million, Wall Street Memes has the potential to rival or even surpass Rollbit’s success.
Hot Take: Wall Street Memes Casino Sets Its Sights on Dominating the Crypto Gambling Sector
Wall Street Memes’ entry into the casino and sportsbook betting industry marks a significant milestone for meme coins. By generating revenue and implementing a buyback program, Wall Street Memes has established itself as a major player in the market. With an estimated $263 billion global market value in 2023, the potential for growth in the crypto gambling sector is immense. Moreover, the popularity of crypto gambling streaming platforms like Twitch highlights the demand for this form of entertainment. As Wall Street Memes continues to innovate and leverage streaming, it could become a dominant force in the industry, potentially reaching a billion-dollar valuation in the near future.
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