Tackling crypto gambling’s onboarding problem

Updated May 4, 2020 | Published Oct 30, 2019
[4 mins read]
For crypto gambling as an industry to grow, we need more players. But onboarding these future customers is no simple task.
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Over recent weeks, we’ve seen several high profile crypto gaming projects discussing the challenge of acquiring new users.

In its August update, Edgeless spoke about the trouble it had reaching new customers. “The current crypto-betting market size remains a major challenge,” the team said in its regular monthly update.

Meanwhile, FunFair built and launched its own FunFair Wallet to address the onboarding issue.

“We can see plain as day where we lose people in the onboarding funnel, and much of the time it’s very early – at the start – the moment they’re asked to download a Web3 browser or wallet and to create an Ethereum account,” the team said in a detailed blog post.

“We believe we could reach a lot more users for our dApp if there were far lower friction, no requirement to download or install anything new, and a UI that had a much more comfortable learning curve.”

Building the ecosystem

A key challenge for these operators has been the issue of KYC. Those operators which are more lax on the checks have an easier time onboarding new players.

And those ecosystems which completely negate KYC are reporting impressive player numbers.

Take a look at WINkthe leading TRON-based casino, which regularly reports daily user numbers in excess of 2,000.

This tells us that the player base for these products is there; the challenge for operators and platform providers is to create a user journey which is both compliant but easy to navigate.

The FunFair Wallet may well have cracked the problem. Initial reports on the reception of the wallet are encouraging.

“We’ve seen it as a huge benefit to acquisition,” CasinoFair MD Lloyd Purser told CryptoGamblingNews.com. “Existing and new players alike have given almost exclusively positive feedback on its usability and with further improvements and third-party integrations to come, we’re very optimistic about solving the blockchain onboarding problem once and for all.

The Wallet uses recognisable sign-up procedures such as email address and password combinations, backed by commonplace security tools like 2-factor authorisation.

The maximalists may protest, but as a way of bringing decentralised technology to a mainstream audience for the first time, it is a sensible move.

Creativity and persistence

Others have also launched new wallets aimed at addressing the problem. The Wagerr Electron Wallet, for instance, has led to an increase in use, and the market cap of $WGR has roughly tripled over the past two weeks.

Ultimately, onboarding new players into an ecosystem of decentralised gaming which is still very new was always going to be a huge challenge.

But the persistence and creativity of development teams across the sector appears to be providing solutions.

With user numbers already starting to head in the right direction, these projects are better placed than ever to begin capitalising on their clear potential.

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Written by The Ferdinator

Fernando heads up CGN's social media outreach and Spanish content sections, socialising, writing and researching in numerous languages like a Babel Fish on steroids. When not at his desk Fernando enjoys eating squirrels, tampering with police vehicles, and watching Game of Thrones in Dothraki garb. Around here he goes by Ferdy, Ferds, or The Ferdinator.
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