GambleFi Portfolio | OwlDao Testing & Slow Accumulation
I added another project to my list of coins that provide dividends from Gambling Dapps. Right now, I'm still in a slow accumulation / testing mode to get some first hand experience before potentially ramping up the cost-average buying of OWL.
Owl.Games (OWL)
I already had an initial look at this project over a year ago (soo Link) with the conclusion that it actually was a solid product but the tokenomics were a total joke and very scammy similar to safemoon which made it impossible to get in also because the valuation was too high. Since many other project use their solution for a Casino/Sportsbook right now including Openbet and the tokenomics / Dividend distribution was changed to something way more acceptable at a much lower overall valuation, I'm now getting in on it as I do like the product.
Last time I had a look at this project there was some hype and the token price was going up in a classic pump & dump. It went from 0.018$ which was close to the peak with a lot higher maximum coins to now 0.004711$ with a lot less coins as many got burned as they are going to a more practical 1 chain instead of having them on multiple. The ridiculous 10% transaction tax was also removed but it does look like there is still a 5% buy & Sell fee on the liquidity pair. Staking now doesn't go in different batches where each time you need to pay 2% tax for staking and unstaking but it seems to be a continuous pool where you can just stake your coins and clain revenue whenever you want with a fixed 2% staking tax and no unstaking tax when having coins there long enough (181 Days)
So I just bought 40k OWL, for now, to test it out paying 190$ for it. This in the end after getting it staked was reduced to just 37240 OWL so you instantly lose 6.9% of your value. I just take that up in the price that I bought the coins for which came at 0.0051$.
One of the downsides is that you need to deposit OWL on their bookie in order to stake it similar to how Betfury works which always will limit the amount that I potentially will invest. Overnight the 190$ saw a 0.14$ return. I will see where this one goes and do some more research along the way. Generally, I much more like the way they are going about things right now and the direction they went after starting out pretty badly in terms of tokenomics. My idea right now is that I will play some more poker and use earnings to get more coins compounding the passive income.
Openbetai.io (OPENBET)
It's safe to say right now 16 weeks after initially getting into Openbet that I overinvested taking way too much risk on it as the greed and fomo got to me. While I still see the potential especially at the current valuation, the combination of trust needed in the devs which so far they don't deserve and the fact that it's right now nothing more than a skin of of owl.games with some promises to build a 2nd casino and have NFTs similar to Rollbit makes it extreme high risk.
So far the Dividends payment of the 4th month hasn't been done yet as they say that they haven't received it yet from the casino host (Owldao) as there was an issue with a phantom hack. So this one goes with too many stages in a payment processor that Owl needs to rely on and Openbet having Owl to rely on.
There are some signs of this actually being a valid excuse even though another site (betero.io that uses owl did have a revenue report from last month Link claiming they got a total of 21k earnings.
So right now I kind of consider OPENBET as a loss even though I still like the potential and valuation and If I didn't have any right now I probably take a small gamble on it. This said, I will just sit back in see how it goes hoping the dividends actually start coming through and if there ever is a pump I will scale down my position. So I'm still aiming to recover my entire investment while at the same time mentally writing it off completely.
| Date | Hold | Total Invested | Current Value | Tot Dividends | % recovered | Total |
|---|---|---|---|---|---|---|
| 24/04/2023 | 201k | 15669$ | 9400$ | 54.5$ | 0.35% | -6215$ |
| 23/05/2023 | 300k | 19727$ | 10177$ | 530.98$ | 2.69% | -9019$ |
| 27/06/2023 | 423k | 22606$ | 8078$ | 530.98$ | 2.35% | -13997$ |
| 25/07/2023 | 423k | 22606$ | 7835$ | 530.98$ | 2.35% | -14240$ |
So while pretty painfull right now, it's also a good lesson learned and all hope is not lost. If you take a high-risk-high-reward bet, you really need to be ready to lose which luckily I am.
Sportbet.one (SBET)
SBET continues to be reliable now for over 187 weeks and things seems to be very stable right now in anticipation for the new football season to start which might see an increase in the number of users a bit as they have gone down recently back to only 108 users last week.
Rollbit.com (RLB) & Rollbot/Sportsbot NFTs
RLB as I predicted turned into what looks to be a massive Pump & Dump going as high as 0.12$ before the influencers who shilled it started to dump while their plep followers likely got wrecked. I continue to just go by the numbers collecting dividends from my NFTs while Selling RLB that I earn above a certain level.
I once again locked my Sportsbot NFT for 30 days getting 19.72$ o, earnings and a 20$ free bet which turned out a 24$ winner (I count the expected 10$ profit from the free bet in my stats)
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The value of the NFTs went up again and there is also more buying and selling activity which increases the earnings from those fees. I briefly thought on taking profit selling my Sports Bot but I ended up just extending the stake instead.
Betfury.io (BFG)
BFG seems to be back in a downtrend now having the lowest dividend pool since i started to keep track, combined with the fact that 0.5% more coins were staked each of the past 2 weeks it did show in the actual earnings which fell to 42.42$ weekly now.
APY Based on Current Price and Dividends from the last 7 days
All these numbers are based on prices of Monday
| Project | APY |
|---|---|
| Betfury.io (BFG) | +31.05% APY |
| Sportbet.one (SBET) | +42.02% APY |
| Rollbit.com (RLB) | +26.46% APY |
| Openbetai.io (OPENBET) | +0% APY |
| Owl.Games (OWL) | % APY (Next Week) |
Note: Token prices going up or down have a major influence on the actual returns going forward either amplifying them if they go up or destroying them when the price would dip. These are my personal numbers and RLB varies based on the trait of the Rollbot NFTs you own.
Personal Gambling Dapp Portfolio
I'm still licking my wounds on OPENBET right now with lower dividends but I'm still kind of hopeful on it and I will also start earning some from OwlDao going forward. My portfolio that includes 5M SBET | 500k BFG | 3873$ worth of Rollbot NFTs | 423k OPENBET. I'm still looking to diversify with other good gambling dapps that pay the losses or fees from the gambler to those holding a token. Anyone that has tips on this, please leave a comment below...
Crypto & Blockchain-Based Bookies and Exchanges that I'm personally using as they allow anonymous betting with no KYC or personal restrictions...
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