Today I was browsing websites of old, inactive cryptocurrencies and noticed that some of the domains are now taken over by online casinos. Honestly, wherever you look in the crypto world, you stumble upon gambling businesses. It really feels like this is the most profitable niche right now.
To me, running a financial market always seemed more profitable than running a casino.
But in crypto, is it the other way around? Are casinos making more money than trading platforms?
I think it's not about the profits or revenue as the main reason why some prior crypto-platforms
werebecame inactive or some shifted into online gambling-related platforms. The target audiences are everywhere in the crypto world, that's why a shift isn't a good idea, but rather to combine these businesses instead for a much bigger boost in revenue.
Maybe it's about the
regulations that are imposed on crypto-platforms, especially crypto exchanges that have become hard and strict as years pass by. Before, everyone could freely use a centralized exchange's services without KYC. Money laundering-related activities are just a simple walk in the park. Whatever the purposes, legal or illegal, crypto transactions are smooth without any worries at most exchanges. Then these hard regulations came that every centralized crypto-exchange should follow, as illegal activities take advantage of it.
The pressure is insane to the point that maybe some companies and platform owners decided to just end their operations. And the next plan, here's the gambling industry that's become a more trendy thing, especially during the pandemic.