Reasons I bought 100k BFG! | Gambling Dapp Dividend Report
I have been mentioning Befury.io and their BFG token this past month and I now fully completed my position in it (for now) now being diversified in this portfolio between 3 different projects which should bring more stability in the overall returns.
Mining 1 BFG roughly costs 0.08$-0.10$ in expected gambling losses (the house always wins) and there is currently around 3 Million Dollars in the Dividend pool of which 3% is being distributed daily to BFG Token holders.
I am also keeping an eye on the inflation and the staked BFG each week it will put pressure on the dividends. Doing the calculations on how much BFG is mined, it looks like the site is roughly earning around 2 Million Dollars each week if I'm correct adding up to 100 Million in a year. At the current price of 0.0268$ for 1BFG and a max supply if 3.654 Billion, this puts BFG at a total market cap of around 100 Million roughly.
A lot of the action on the website comes from players who are mining BFG and I'm not the biggest fan of the model which works really well to put something on the map getting initial users at the cost of it becoming somewhat of a weight to carry years down the line. I do however like Betfury.io as a gambling site as they seem to be getting a lot of things right and I'm sure they will find a way to keep the party going incentivizing players to keep playing once all coins are mind.
Fair BFG Price Calculation
BFG started trading for 0.07$ when it was first put up on the biswap.org liquidity pool. It went all the way up to 0.30$ and down again as low as 0.013$. Based on the platform they have built and the revenue they are making combined with the funds that are in the Dividend Pool and the total supply of BFG, I'm quite comfortable getting a stake in it as part of my Gambling Dapp Dividend portfolio at a price of 0.025$-0.030$ or less. All newly mined BGF are being locked for 6 months so once that period starts to expire around 5 months from now, it might be time to potentially take some profit. The dividends right now are great sitting at around a +100% APY (which will come down as more BFG gets staked) which provides a good opportunity to recover the investment along the way. If the prices on the crypto market go up, it means that the dollar value of the dividend pool will also go up while making it more expensive to mine BFG. This should result in also a price increase for the BFG token.
Then again, it's crypto and who knows what will happen. I'm prepared and ok for BFG to go to zero at any point in time and will see how it all plays out.
WINK Update & DividendsWink had the best dividend payouts of the last 15 weeks but still is lagging behind as the APY is 'only' 18.72% based on the current price and the Dividends of last week. I also haven't received an update on the customer support ticket I filed (a 2nd time) about the small funds I believe are missing after their sportsbook went offline for a while being replaced by a new one where all history of previous bets were deleted. I'm pretty much freerolling my WIN as I managed to buy really cheap while taking enough during the big pump so I'm just rolling with it now even though I probably wouldn't buy any WIN if I didn't have a stake in it yet right now.
Dividends seem to have stabilized looking at the 100-day moving average with the overall trend being up. If there ever is another crazy pump, I will likely take some more profit.
Sportbet.one (SBET) Dividends
Everything for SBET remains to be quite stable which is both good and bad as they don't really seem to be growing all too much which remains a concern. My bag is pretty much filled on SBET and I won't be adding more even though I would be a buyer right now in case I didn't have any since their total market cap right now is only 1.2 Million which feels really low based on the platform they have operational. For now, I just remain patient with an expected APY which currently sits at +33%
Personal Gambling Dapp Portfolio
The 100k BFG is now fully part of my portfolio which should bring the total earnings at least around 100$ on average of passive returns weekly. The portfolio currently has 14M WIN / 3M SBET / 100k BFG/ 10k TRX / 22 LIVE | 2271 RAKE with the combined value adding up to just below 18k Dollars at current prices. I continue to be interested in adding other good gambling dapps that pay the losses from the gambler to those holding a token that can't be mined, so if you have one on your radar make sure to let me know...
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