The introduction of RACoin, cryptocurrency for the gambling industry

The world of cryptocurrencies is full of new ideas and currencies that all try to succeed, which can be achieved only by distinguishing themselves from the rest of the market. One of the new currencies, RACoin introduced by Ra Entertainment Inc., is focused one specific business segment – gambling.

While there are multiple project combining gambling and cryptocurrencies, RACoin doesn’t focus merely on the world of online gambling like most other projects do. Its goal is to create a “cryptocurrency for the real world gambling industry” as it states on its website. It might be harder to incorporate into land-based casinos, but the team behind the cryptocurrency claims they have it figured out, at least to some degree.

Gambling-related benefits for RACoin owners and users

According to the project websites there are various benefits connected to online and offline gambling that make it more interesting for people interested in the gambling market and services.

Offline gambling benefits include:

  • Possibility of paying for any service or good (including casino chips) in tokens with excellent discounts
  • Participating in the jackpot implemented by smart contracts
  • Free and exclusive services available only for token holders
  • Transparency

Online benefits include:

  • Lower withdrawal fees
  • Participating in the jackpot implemented by smart contracts
  • Anonymity and transparency

RACoin aims to become a universal payment tool that can be integrated into existing platforms and easily used for gambling and possibly other kinds of services as well. Only time will show whether it manages to achieve this goal or not.

Pre-sale closed, public token sale scheduled for mid-April

The pre-sale of tokens was successfully finished in just 2 days, during which RACoin raised over 450 BTC and 13925 ETH, which is almost $10,000,000, although the dollar value understandably fluctuates with changes to the crypto market.

The public sale is scheduled to start on April 16th and last until May 16th 2018. During this time, anyone will be able to get their hands on RACoin and participate in this project. However, keep in mind that investing in (not only) new cryptocurrencies is very risky and should be done only with money you can afford to lose.

Not the first time cryptocurrencies and gambling meet

The connection between cryptocurrency and online gambling is not rare in the current environment. For example, cryptocurrencies enabled the creation of one of the first (if not the first) completely anonymous casino LuckyBity, in which the players only need an e-mail address to register, play and even withdraw.

Anonymity is very valued by some people, which is why casinos like this are a welcomed addition to the online gambling market. What’s more, casino experts from evaluated this casino and find it reputable, even despite the issues that the casino’s owners face because of the requirement of anonymity.

It seems that cryptocurrencies and the gambling market are really compatible and we can expect more projects that take advantage of the connection between these two “worlds”. It all started with BitStarz, the first casino that accepted Bitcoins as a form of payment, and we can only wonder how this relationship will change offline and online gambling.

RACoin by RA Entertainment Inc. might have something to do with the future of gambling and crypto. If you want to know more about the project, read its whitepaper or check out the related topic.

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