GambleFi Portfolio Update | Openbet Bag Filled
Rebalancing My Gambling Dapp Portfolio
As the price of Openbet continued to go down, I cost-averaged in some more and now have my bag filled for 2x more than I initially had intended. I do plan to reduced my exposure in case the price would go up again and it should boost the dividends quite a bit in the 2nd week of may when the 2nd round of dividends will be distributed. This also balanced my portfolio some more right now.
| Coin | Coins | Price | Value | Portfolio % |
|---|---|---|---|---|
| SBET | 6000000 | 0.00283$ | 16980$ | 44.7% |
| BFG | 480000 | 0.01755$ | 8424$ | 22.2% |
| OPENBET | 201000 | 0.05045$ | 10140$ | 26.7% |
| ROLLBIT NFT | 3 NFTs | ~ | 2454$ | 6.4% |
The dream remains to have one or more of the platforms see having a lot of volume and revenue growth which both increases the dividend earning along with the price. This so far briefly happened with Wink which I managed to take some profit on (but not enough) while it was still around also avoiding to lose anything while it went offline. SBET so far failed to get adoption but the dividends managed to hold up which made it do really well in the bear market. Right now my new attempt to catch something with a lot of potential not shying away from the risk is Openbetai.io and it will make for some interesting months going forward. I'm also still looking for a potential 5th GambleFi coin to add to this portfolio.
Openbetai.io (OPENBET)
Not all too much news this week and the price continues to go down with what I believe are early buyers who were chasing the pump without longer-term holding intention offloading coins to people that do aim to have it as an investment to receive passive dividends.
I'm willing to take the gamble on this project as it looks legit enough with the total market cap still being low compared to the potential if they succeed to become the main web 3 casino on the Abritrum chain. Right now the fully diluted market cap is just around 500k Dollars and even if the dividends remain where they are they should allow to earn back the investment within a year. Off course, the risk is high but so are also the rewards if it succeeds.
Right now the dividends are paid out automatically in the 2nd week of the month and a snapshot is taken at a random moment. I assume that toward the future, dividends also will become a weekly thing (monthly is just too long) and coins will need to be staked in order to get them. From what is reported, the earnings 24 days into the month are already higher compared to the 31 days in March and the snapshot still have to be taken. It will soon also be possible to deposit funds actually using the Arbitrum chain.
The main thing they are doing now is onboard new players through partnerships by airdropping 100 USDO to top 500 holders of specific coins on EVM compatible chains. This allows them to try out the casino for free with a chance to get 100$ if they manage to roll it over 50x. I believe only a very small percentage of these people will manage to pull that off and it will give the platform new players and some nice exposure in the crypto space.
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This week there were airdrops to 0doge & Arbitrumpad holders.
Openbet Earn Back Initial Investment Goal
So I managed to cost-average my way up to holding 2% of the supply and my goal from here on out is to put my entire initial investment safe again and have at least 1% of the supply left as a bag for the long run. This will have to come both from dividends received and by lowering my exposure in case the price would go up. With the buy/sell tax combined with the dropping price, I'm actually down quite a lot right now but I don't mind so much as I have no obligation to sell anytime soon and the dividends is what counts. I do take the 5% sell tax and the slippage into consideration on the current value of my holdings.
| Date | Holdings | Total Invested | Current Value | Tot Dividends | % recovered |
|---|---|---|---|---|---|
| 24/04/2023 | 201000 | 15669$ | 9400$ | 54.5$ | 0.35% |
Sportbet.one (SBET)
Another good week for SBET and I hate selling some of my holdings but it's right now the most common sense thing to do for me. In case openbet would take off and give some good gains, I would be happy to buy back what I sold and increase my bag again at current prices.
Rollbit.com (RLB) & Rollbot/Sportsbot NFTs
I would say that Rollbit (RLB & NFTs) are trading at a pretty fair value right now which makes me willing to hold on to the rather small position I have in the platform without anything more. It seems to be an established brand with a good website that has some unique functionality. But the fact that it is already this big makes it much harder to grow further and make holders massive gains compared to something like Openbet.
Betfury.io (BFG)
BFG remains relatively stable but dividends went down a bit again as the pool lowered while the number of coins staked increased with 1.71%. The current price of BFG feels quite fair also as an ok entry for those willing to hold and receive dividends but I'm not sure if there is that much massive growth in it to make massive gains as much more speculative altcoins.
APY Based on Current Price and Dividends from the last 7 days
All these numbers are based on prices of Monday
| Project | APY |
|---|---|
| Betfury.io (BFG) | +37.32% APY |
| Sportbet.one (SBET) | +55.7% APY |
| Rollbit.com (RLB) | +31.39% APY |
| Openbetai.io (RLB) | +73.73% APY ? |
Note: Token prices going up or down have a major influence on the actual returns going forward either amplifying them if they go up or destroying them when the price would dip. These are my personal numbers and RLB varies based on the trait of the Rollbot NFTs you own.
Personal Gambling Dapp Portfolio
Dividends are still holding up and actually doing good given the fact that they come from reduced holdings as I moved a lot into Openbet. in 2 weeks the earnings should increase a lot as I do expect some good divinnds from my openbet bag. Right now, I'm holding 7M SBET | 480k BFG | 2638$ worth of Rollbot NFTs | 201000 OPENBET. I'm still looking to diversify with other good gambling dapps that pay the losses or fees from the gambler to those holding a token. Anyone that has tips on this, please leave a comment below...
Crypto & Blockchain-Based Bookies and Exchanges that I'm personally using as they allow anonymous betting with no KYC or personal restrictions...
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