MOG – REINVENTING THE ONLINE GAMING INDUSTRY
Online Gambling Industry
Online gambling is a huge industry that is growing even faster and it is estimated that by 2022 its market size would be approximately USD $80 billion. In this age of innovation and technology, online gambling is one of the very few industries left untouched by technical revolution. It would be fair to say that the industry is ripe for disruption as it currently is plagued by series of issues. To mention some of the problems plaguing the industry, are monopolization, high costs of development, frictions in the payments systems and to top it all, lack of transparency and trust. Obviously, there is a serious need to reinvent the online gambling industry.
MOG Bringing Technology into Gambling
Massive Online Gaming (MOG) is all ready to reinvent the gambling industry. MOG is aiming to put the players first in gambling. The gambling market consists of two sectors Offline and Online gambling.
This is the largest sector in gambling industry encompassing casinos to state owned lotteries. Many countries prohibit the offline gambling and also some countries do not allow locals to gamble. For such players online gambling is the only option. Such countries have higher number of online players.
This sector does not require much of licensing hence, is a profitable sector. Its operational cost is also limited as compared to offline gaming. In this sector there is a lack of trust by the players which limits the growth of the market.
This is new in gambling market with very few companies engaged in cryptocurrency gambling. The market is expected to grow but will take much time delaying the returns for the investors. The sector gives poor payouts to the players thereby making them interested only in land-based gaming.
MOG Proposes the Hybrid Model
MOG will be based on both fiat and cryptocurrencies in order to overcome some of the limitations. Gambling is already generating big revenues in fiat currency and is also expected to perform well in the crypto market. MOG is building the gaming around ‘power of many’ concept. Importantly, the gaming apparently will have 100% transparency including the pay-outs. MOG is introducing the concept of responsible gaming. In this, the spending limit will be set depending on the financial position of the country in which the player is residing. As MOG will also be offering referral programs, hence people promoting the games will also be offered affiliate programs.
- Total no. of tokens is 20 million
- 75% tokens will be spent on fund raising.
- 10% of tokens are held in reserve for future unknown cost.
- 15% of tokens will act as prize pool guarantee.
Of 15 million tokens to be sold the allocation would be:
- 15% campaign costs and bonuses.
- 10% online marketing
- 35% development.
- 40% jackpots for first 2 years.
Total no. of tokens: 15 million
Token Price: 0.5 euro
Referral Bonus: 5%
Gambling industry has a huge potential for generating big revenues but due to technical limitations this potential is somehow untapped. MOG is aiming to reinvent the gambling industry by introducing technical innovations to the space and in the process tackle the issues related to monopolization, high costs of development, frictions in the payments systems and lack of transparency and trust. Also, online gambling should be able to overcome the limitations of land-based gambling.
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