Rollbit, an innovative hybrid of an online casino and a crypto futures exchange, has reported an impressive year-to-date revenue of $355 million.
Its performance ranks it third among crypto protocols/platforms in revenue generation, only behind Uniswap and Lido.
The platform, operational since 2020, witnessed a surge in usage in 2023.
In the last 30 days alone, Rollbit has generated $41.7 million in fee revenue, projecting an annualised rate of $508 million.
The sources of Rollbit’s revenue are varied. The casino accounts for 69% of its income, followed by crypto futures at 18%, and the sportsbook contributing 13%. The platform’s market cap stands at an impressive $505 million.
Rollbit has also implemented a token buyback program, using a portion of revenues from various platform services to purchase and permanently remove RLB tokens from circulation.
This strategy has led to the burning of over 37% of the outstanding RLB supply.
The company’s price-to-sales ratio is 0.99x, which is favourable compared to the 2.31x average of its traditional gaming sector counterparts. This indicates potential for significant growth in its token price.
Rollbit’s revenues are rapidly growing, with October’s figures showing a 19% increase over September, surpassing its competitors.
However, potential investors should consider risks such as the platform’s ambiguous ownership and licensing status and restrictions in major markets like the U.S. and parts of the EU.