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Video gaming is a booming billion-dollar industry that is expected to rise enormously in the following decade. The boundaries between gaming as leisure and profit-making activity have already become blurred.
However, in the current market, there are not many video games that give players a chance to earn decent money. We believe there is a huge opportunity in the market for video games with play-to-earn features.
Horse racing is expected to become the leader of the sports industry bypassing the current worldwide market leader, football. Previous attempts to get horse racing digitized were well received by the audience.
But these approaches still don’t keep up with other spectator sports and there are many discussions that the horse racing industry needs to step further into the digital world. There is a huge demand for the digitalization of the horse racing market.
Horse racing has a long history of fraud and corruption. Injecting horses with doping, bribing jockeys to fail the races, race fixing, money laundering, tax fraud, and so forth. BBC's Panorama investigation and documentary The Corruption of Racing has exposed numerous secret files documenting over a decade of corruption in horse racing.
Fiat-based video games have very slow transactions. It is not uncommon for players to have to wait for a significant amount of time for a deposit to go through their bank and then go through a long verification process to be able to gamble on the platform. Waiting for several days for their purchased assets to appear in the game is not uncommon.
Also, if a player chooses to use a platform that is based in another country, the transactions are very expensive due to currency exchange.