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Betting and iGaming stocks have performed well since the start of this year despite concerns that consumers may pullback on discretionary spending due to fears of an economic slowdown.

“BETZ” – the Roundhill Sports Betting and iGaming ETF is up roughly 20% for the year at writing. Still, Jefferies analyst David Katz is convinced that this segment within entertainment is only in its early innings. On CNBC’s “Worldwide Exchange”, he said:

Digital gaming has only been legal in [the U.S.] for a couple of years and is pivoting to profitability this year where there’s been a period of investment and spending.

Note that the NFL season is slated to kickoff in early September. Katz expects the league to be a further boost to sports betting and digital gaming moving forward – and the upside may not be restricted to the conventional players only.

A blockchain-based platform like Chancer.com may also benefit.

Chancer is a peer-to-peer custom betting platform that aims at disrupting the gambling and digital gaming markets. It’s built on the Ethereum blockchain and differs from other platforms within this space in a few different ways.

Firstly, Chancer.com introduces the concept of social betting that enables you to create your own market on just about anything. You can then share it with other users and potentially profit from it.

Secondly, this blockchain-based platform helps you keep up-to-date with how your bet is progressing via live streaming. Plus, it’s relatively safer, thanks to the impartial moderators that oversee the custom bet slips.

Lastly, even though the network is initially centralised, founders Adam and Paul Kelbie are committed to eventually turning it into a fully decentralised network powered by its native $CHANCER token.   

$CHANCER – the BSC0 tokens are like shares of a company. Owning them gives you the right to have some say in certain affairs related to how the platform develops and what direction does it take for the future.

Other than that, the native token is what is needed for you to unlock the full potential of the platform. You can create and participate in betting markets using $CHANCER.

Most importantly, it’s an investment opportunity. At writing, the $CHANCER token is going for $0.01 and its price, much like any asset, depends on the overall supply and demand.

The good news is that Chancer.com has already raised more than half a million dollars within a month of launch which signals strong demand. Its target is to raise a total of $1.0 million via the pre-sale.  

After the pre-sale, Chancer will list its BSC0 token on the notable crypto exchanges including Uniswap. Earlier this year, Pepe and Floki saw a significant boost when they went live on a crypto exchange.

If the same happens for $CHANCER, those who invest in it today during the pre-sale could benefit materially. It is also important to disclose that estimates are for the token to touch $0.021 by the end of the pre-sale – more than double its current price.

More importantly, sports betting is only in the early innings, as mentioned above. The market is expected to be worth over $90 billion by the end of this year versus about $84 billion in 2022. Experts forecast sports betting to grow at a compound annual rate of 10% over the next several years and that continued growth will likely be a tailwind for Chancer.com.

Lastly, asset managers including the most prominent BlackRock has recently filed with the U.S. SEC for a Spot Bitcoin ETF that signals two things: one, the crypto market is here to stay; and two, institutional investors want access to cryptocurrencies.

Analysts anticipate the approval of such an exchange-traded fund to unlock further upside in crypto assets and the $CHANCER token, being one, will likely bathe in that triumph as well.

For further details on the peer-to-peer blockchain-based betting platform, visit Chancer.com.  

The post NFL season is right around the corner: what does it mean for Chancer? appeared first on Invezz.

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