Chancer on a lightning presale, but how huge will P2P betting be?
Chancer revolutionises betting by making it possible to predict multiple events.
Chancer launched a presale on June 13, which has been happening fast.
The token is a 50x investment in the future as blockchain-based betting gains prominence.
A few weeks since Chancer launched a presale, investors have accumulated more than $1 million of the tokens. Very few presales raise these amounts that quickly, underlying a strong interest in the token of the peer-to-peer betting platform. As the world’s first decentralised betting ecosystem, investors believe Chancer could be revolutionary. That stems from the growing interest in betting, which Chancer aims to take to the blockchain.
About Chancer and its P2P betting model
Chancer is a new blockchain-based betting platform. The platform will be powered by a $CHANCER token. The token will be the platform’s medium of exchanging value and claiming winnings on successful bets and other rewards. There are a total of 1.5 billion Chancer tokens in supply, but only 65% are available for presale.
Chancer aims to become the go-to destination for decentralised social and predictive markets. Betting on Chancer occurs through a P2P model, where users set their rules and odds.
Picture this: You expect candidate X to win an election. Your peers may hold a contrary opinion. So, you place a bet against them for this probabilistic outcome. Under normal circumstances, you won’t be able to bet on such a political event. Chancer allows betting via these less popular events.
Through Chancer, investors can bet on many events. They simply create a P2P Chancer market for the particular event or incidence and bet on it. In other words, Chancer increases investors’ choice and flexibility in betting. This makes the platform a remarkable way to decentralise betting and enable investors to be in charge.
The exciting bit is that users are rewarded for creating the P2P markets. The use case makes Chancer more than a betting platform. Users can also generate passive income by sharing the platform and staking the native token.
How big is the P2P betting opportunity?
Since P2P betting is new, estimating the market size is down to estimations. However, it is easy to predict based on the market size and trends in traditional betting.
Market reports point out that online sports betting was valued at $70.23 billion in 2021. This level is expected to grow at a CAGR of 11.7% by 2030. Growth in technology and the proliferation of the digital arena are linked with these strong trends.
The projected growth in betting is positive for Chancer. Traditionally, sports betting dominated, but Cancer wants to bring new ways to bet. Coupled with the ever-growing popularity of blockchain, Chancer will craft a niche from traditional betting. It will also build a new niche that could increase the betting market size further through the P2P model.
Given the above, Chancer’s betting market size is huge, conferring significant opportunities to investors. A strong demand for the platform is positive for the token and its ability to return huge.
Chancer prediction in 2023, 2024, and the future
The Chancer token’s long-term value will be derived from the platform’s continued use and demand. As such, quantifying the future value would be highly speculative. Most cryptocurrencies have risen by thousands of percentages after finding and earning the market trust. Thus, a potential 50x increase or more in the future is probable if Chancer lives to its promise.
However, in the short term, $CHANCER could start to find higher values when it lists on Uniswap in Q3 2023. This is when the token will unlock more demand and rise, potentially by double or triple-digit percentages.
In 2024, $CHANCER could rise by over 1,000%. The basis for the prediction is that the main platform will allow $CHANCER to be deployed for real-world use cases. That could unlock organic demand that will sustain the token’s value and push it to higher levels.
