I'm still curious after directbet closes its site and then keep popping up some gambling sites shutting down their business. But after looking at the auction section I was surprised to see
rollin.io auction off his site and they also said that his site was for sale.
What exactly is happening on the gambling site?
Does not the gambling site give big profitable to the developer?
if the developer will continue to get the profit from a gambling site, then why did they shut down the effort that has been built since long?
Do you have an answer to this question?
Let's discuss it.
It's called cost of doing business.
For example, directbet was On-Chain bookie, which mean they were paying TX fees on every bet.
And with this/current $6/transaction, they have 3 choices:
1. Transfer the cost to clients: this mean client to not get anything on a winning bet under 0.0015 and even then, this is hude -ev
2. Make a min bet of 0.1 for example and continue to cover the TX costs. But how many players are betting min. 0.1?!
3. Move to off-chain betting like the rest, re-writing their whole platform.
4. Close the site.
And so on.