The casino industry is one of the largest in the world, despite being banned in numerous countries. This demonstrates the level of returns provided by the gambling industry. People love to go to casinos due to the lavish, fun, and entertaining environment.
The industry has grown markedly over the last few decades, and the industry generates high revenues with healthy profit margins. This is all good news for investors, who always want the best return on their investments. The greatest achievement of the casino industry over the last decade is the provision of e-gaming facilities.
Casinos were previously limited to physical localities and hence, had geographically limited customers. However, with the growth of the internet and smart devices; casinos can now offer their services to customers in the comfort of their homes.
E-gaming systems for casinos have their own limitations since the customer are bound to mistrust the system behind the gaming. This happens when the customers lose a game or maybe lose a series of games. It could make them think that the game is fixed, and the system is being manipulated against them.
This is where RA Coin comes into play. The decentralized token will revolutionize the gambling industry by making the trust factor unnecessary. The token will be backed by a decentralized blockchain, which will be incorruptible. This means that the players will have 100% trust in the games.
The outcome will be calculated by automated systems, which will then confirm the results with the rest of the nodes. Therefore, since no single person is involved in the process, the results cannot be manipulated.
Globally, the gambling industry has enjoyed significant growth, doubling its gross gaming yield (GGY) over the last two decades. The market was generating $220 billion US in 2001, in 2018, the figures have been estimated to have passed $480 billion US. This is 2-fold growth over the last 18 years.
This shows that the gambling industry is not just limited to the US and is a global phenomenon. Australians are known to the be the wildest gamblers, and each Australian is estimated to gamble at least $1,000 every year. The statistics surrounding the gambling industry are attractive and show a significant opportunity for growth.
The following chart represents the growth of the gambling industry over the last 18 years.
RA Coin’s goal
There is still room for growth in the gambling industry, but there are certain gaps that need to be filled. A major concern for players is trusting the casinos and their games. There is a need for a transparent system that is 100% trust-free and is incorruptible. Such a system is promised by blockchain, which uses a decentralized system for the verification of results.
Through this approach, RA Coin wants to create a new system for casinos that will be 100% transparent and free from errors and disputes. The trend of accepting cryptocurrencies in casinos has been gradually growing over the last year, and RA Coin wants to push this trend to a higher level by introducing a personalized crypto token just for the gambling market.
RA Coin is developing the RAC token to back their system. RAC will be an ERC – 20 standard coin that will have physical applications as well. Players can use the RAC token to pay for simple items such as water bottles, drinks, and to paying for games and chips.
The RAC token will have a wide range of applications and will allow players to use a single currency in numerous different casinos. The tokens will use the ERC-20 smart contracts for their application, and the whole system will be transparent and free from the need for trust.
Unlike traditional online gambling, when it comes to blockchain online gambling, all the back-end processing is done on the blockchain. Since the blockchain is decentralized, this means that it is not easily hackable. The traditional server architecture is more prone to being hacked since it has a single point of entry. However, with blockchain, a hacker would have to synchronously attack all the nodes of a network, which is physically impossible.
A total of 20,000,000,000 RAC will be produced, and 3,000,000,000 RAC will be sold at pre-sale, while 5,000,000,000 RAC will be sold during the main token sale. At the time of the token sale, the price of 1 RAC will equal 0.00001 ETH. For investors, there’s a requirement for a minimum investment of 100 ETH in presale and 0.1 ETH in the main token sale. The following diagram explains the token distribution of RA Coin.
The following three people are the main team members for RA Coin. The project has a number of other skilled people working on it and also has a team of advisors to help them out.
- Alex Gusev: CEO
- Ross Clarke: CTO
- Michelle Prochnowa: COO
Pre-Sale: March 26, 2018 9:00 UTC — April 2, 2018 23:59 UTC
Crowd Sale: April 28, 2018 9:00 UTC — May 28, 2018 23:59 UTC
For more info
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