Bitblox Bitcoin Entertainment
Brandt Page, CEO of game provider Bitblox, discusses the untapped potential for crypto- based prediction titles and the cross-market appeal for sports bettors and casino players.
Brandt, what are your thoughts on the iGaming industry’s relationship with cryptocurrency? As awareness of crypocurrencies grows in mainstream media, what’s the scope for iGaming to capitalise?
I think there are a few areas. Firstly, it's clearly been demonstrated through the ever-rising crypto casino market that players are very willing to use crypto to bet, whether that be stable coins like USDC or USDT or even Bitcoin, Ethereum and others. Tat is a very logical pathway for the industry to grow.
Secondly, we've also started seeing some of the operators create their own token whether that's for rewards, promotions or even as a player mechanism where people can use the house token to play. We're seeing some models where an operator will issue a token and then, as revenue is being generated, they burn part of the token so they can create this element of scarcity. Tere are both promotional and real money aspects to that.
Tirdly, where iGaming hasn't caught up yet is the continued growth of Web3. We've seen some operators effectively try to launch and be a fully on-chain operating system. Even with the fastest of the blockchains, I don't think the technology is quite there yet to support that. But in five or 10 years we could really be seeing some interesting stuff on Web3 as well.
Could you tell me more about how Bitcoin-based titles work? Do you require an understanding of crypto markets to make better informed decisions or are they accessible to crypto novices?
Te way I describe our games or content is that we are building entertainment around the Bitcoin price. We let players engage with crypto without having to touch it. It's not about buying or selling Bitcoin. If you look at Up or Down Turbo, our flagship game, you're
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literally making a prediction about whether Bitcoin is going up or down in a 20-second period. If you are a crypto enthusiast, we have the chart there that you can track and judge if Bitcoin is on a run or otherwise. But in the end, the gameplay is very simple. Anyone can understand it and I think that's one of the powerful things about it.
Is there a RTP on these games?
Tere's not so much a return to player because it's akin to a sports betting game that lives in the casino section of an operator's website. Because we are offering fixed odds to players, when someone has a bet on Up or Down Turbo, if the odds are showing 1.9 and they have $10 on it, they will get $19 if they win. It's the price they strike at the time. It's a little bit of a hybrid as it's not pure RTP in the traditional sense, but it still generates GGR from a commercial perspective for operators. It's similar commercial deal to what an operator would look for in a slot or a crash game.
Are there difficulties positioning Bitblox’s crypo-based prediction games on the site?
It's an interesting point. When we went live in July last year, one of our initial supporters was Sportsbet. Tey started by positioning our content in the crash and instant win games section of their website. Tey then noticed that people who never played casino games were crossing over from the sportsbook to find our game and play it. Sportsbet then added an extra link in the sports tab, before eventually positioning it on the front page because there is no proper vertical for them.
While we are being a little bit disruptive, my goal is to create a new vertical in iGaming for crypto-based games. To do so, first we need to get to a critical mass of content with new games before that can
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