Decentralised casino Edgeless shone a light on the challenges facing the crypto gambling sector in its August update.
“The current crypto-betting market size remains a major challenge,” the team said in its regular monthly update. “During this summer Edgeless connected with almost every major crypto-betting affiliate possible. The entire marketing output is only 100 player registrations a month, which is nothing.”
The team also noted that figures from DappRadar, that showed Edgeless fifth among casinos on the Ethereum blockchain for daily users, but with only 20-30 daily actives.
It went on to note that many of the crypto operators reporting higher numbers are offering their products without asking for KYC information. “Edgeless can’t compete in these markets due to legal risks,” it added.
It was a tough August for the price of $EDG, in part due to a decision taken by South Korean exchange Upbit to delist EDG as part of a broader policy to no longer trade coins related to gambling.
However, the team is confident that new releases, including the popular games Hi-Lo, updated UI/UX and a refreshed marketing approach will help the casino gain new users.
“The team is working hard on growing the user base. Edgeless is looking for new ways to gain users faster, including the new Welcome Pack, new USP and staking as a marketing channel,” the team concluded.