Rollbit, an innovative hybrid of an online casino and cryptocurrency futures exchange, has reported impressive annual revenues of $355 million to date.
Its performance ranks third among cryptocurrency protocols/platforms in monetization, behind Uniswap and Lido.
The platform, which has been operational since 2020, saw a surge in usage in 2023.
In the last 30 days alone, Rollbit’s fee revenue is expected to be $41.7 million, bringing in $508 million in revenue for the full year.
Rollbit’s revenue sources are diverse. Casinos account for 69% of revenue, followed by cryptocurrency futures at 18% and sportsbooks at 13%. The market capitalization of the platform is a whopping $505 million.
Rollbit has also implemented a token buyback program, using a portion of the revenue generated from various platform services to purchase RLB tokens and permanently remove them from circulation.
This strategy resulted in over 37% of the outstanding RLB supply being exhausted.
The company’s price-to-sales ratio is 0.99 times, which is better than the existing game industry average of 2.31 times. This indicates that the token price is likely to rise significantly.
Rollbit’s revenue is growing quickly, with October figures up 19% over September, outperforming its competitors.
However, potential investors should consider risks such as the platform’s ambiguous ownership, licensing status, and restrictions in key markets such as the US and parts of the EU.