Rollbit Review

Summary: Rollbit is an innovative online gaming platform offering various entertainment options for cryptocurrency enthusiasts and gamblers. It features diverse gambling opportunities, including over 10,000 traditional and exclusive casino games, such as slots and table games, and crypto futures trading with up to 1000x leverage. Players can also engage in a sportsbook that covers over 40 sports.

Users can benefit from up to 70% of the house edge with Rollbit’s unique rewards scheme and trade Rollbit Coin (RLB), the platform’s deflationary utility token that facilitates access to exclusive features and bonuses. Additionally, Rollbit extends its product range to include NFT lootboxes, offering not just gambling but also a complete crypto-gaming ecosystem.

What is Rollbit?

Established in 2021, Rollbit is a rapidly growing online gambling platform that combines casino gaming with cryptocurrency trading ‍favored by Crypto Twitter influencers like Gainzy and 0xSisyphus. It offers a wide selection of casino games, a comprehensive sportsbook, and advanced features in crypto futures trading, including up to 1000x leverage, alongside NFT trading. Central to its appeal is the Rollbit Coin (RLB), a utility token that enhances user interaction within the platform. 

Rollbit requires no KYC information to join, simplifying the signup process. Thanks to this, it has over 1 million monthly active users and an estimated 40M wagered per day.  Despite regulatory challenges, including the revocation of its Curacao gaming license, Rollbit ensures a safe environment under its licenses from Curacao and Cyprus. The platform prioritizes user security, evident in its use of offline wallets for safeguarding user funds.

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Key Features

Rollbit is a multifunctional online gambling platform offering a range of features that cater to various interests, from sports betting to derivatives trading and traditional casino games. Here's a quick overview of Rollbit’s key offerings:

• Casino Games: Rollbit's casino section includes games like slots, blackjack, and roulette. Governed by evolving rules and regulations, these games ensure a secure and fair gaming experience, reflecting Rollbit’s adherence to industry standards.
• Live Casino: The live casino feature at Rollbit offers real-time gaming with professional dealers. This immersive option bridges the online and physical casino gap, providing a realistic gaming atmosphere for users.
• Crypto Sportsbook: Sports and esports enthusiasts can access a diverse sportsbook on Rollbit. Covering events from the NFL to esports, it offers competitive betting options in a user-friendly environment.
• Futures Trading: For cryptocurrency traders, Rollbit presents an advanced futures trading platform with up to 1,000x leverage. 
• NFT Trading: Addressing the rising interest in digital assets, Rollbit includes a section dedicated to NFT trading, where users can securely trade digital collectibles.
• Daily Race: Daily Race is a competitive event in which players compete to top the wagering leaderboard within a 24-hour period. Substantial cash prizes are distributed daily to the highest wagerers, providing a rewarding experience for participants.
• Jackpot: The Jackpot feature enables players to bet NFTs and cash. The winner is determined every 50 ETH blocks using the hash of a specific Ethereum block, ensuring a provably fair gaming experience where one participant wins the entire pooled prize.
• RLB Lottery: The platform features an RLB Lottery where participants wager Rollbit Coin to earn tickets for a chance to win a provably fair lottery, determined by the hash of a designated Bitcoin block, with the prize pool growing as more RLB is wagered.

In summary, Rollbit offers diverse and compliant features, catering to gaming, sports betting, and cryptocurrency trading enthusiasts in a secure no-KYC environment.

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Is Rollbit Regulated?

Yes, Rollbit is a licensed and regulated brand under Bull Gaming N.V., headquartered at Abraham de Veerstraat 9, Willemstad, Curacao. It is authorized by the Government of Curaçao, operating under the Master License of Gaming Services Provider, N.V. #365/JAZ. Additionally, Rollbit's payments are processed by WINGAMING SUPPORT LIMITED, based in Nicosia, Cyprus, ensuring a secure platform for users involved in online gaming and cryptocurrency trading.

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Rollbit Futures

Rollbit's Futures trading feature allows users to trade with up to 1000x leverage, providing a robust platform with a unique, manipulation-resistant price formulation strategy. Users can easily manage trades, set automatic cash-outs, and benefit from two distinct fee structures: a profit-based cut or a flat fee for more predictable costs. With an individual and aggregate trading limit of up to $1,000,000, traders can use the Rollbit Coin to cover fees and unlock discounts.

Here are the essentials of Rollbit futures products:

• Diverse Asset Support: Supports a wide range of popular crypto assets, including Bitcoin, Ethereum, SOL, RLB, PEPE, WLD, APT, AVAX, ARB, and more. 
• Trade Execution and Tracking: Traders can place bets on cryptocurrency price movements with selectable leverage up to 1000x. The platform's 'Active bets' tab provides detailed insights into each trade, including entry price, amount bet, leverage, and the current profit or loss.
• Trading Features and Limits: Offers additional trading features like trade sharing and automatic cashout settings. It uses a secure price formulation strategy to ensure market integrity. Trading limits are generally capped at $1,000,000, allowing users to request personalized adjustments.
• Fee Structures: Rollbit provides two fee options: the 'PnL Cut', a profit-based fee, and the 'Flat Fee', a fixed charge at the trade time. Rollbit also encourages using its $RLB token by offering reduced fees, enhancing affordability for frequent traders.

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Fee Schedule

Rollbit provides a versatile approach to fees with options designed to accommodate different trading preferences and strategies, benefitting from the use of Rollbit Coin (RLB) for additional discounts. Below is a detailed summary of the costs involved in using the Rollbit platform:

• Deposits and Withdrawals: Rollbit does not charge fees for depositing or withdrawing funds. However, users should note minimum transaction amounts and potential network fees for crypto transfers.
• Trading Fees: In crypto trading, including futures, Rollbit doesn't charge standard commissions but applies overnight financing and swap fees based on the trade size.
• Reduced Fees with RLB Token: Holding RLB tokens offers up to 60% discounts on both PnL Cut and Flat Fee structures.
• Futures Trading Fees: Rollbit offers a 'PnL Cut' model, where traders pay a percentage of their profits as fees, calculated based on position size, hold duration, and leverage, with no fees for opening or closing trades. Alternatively, the 'Flat Fee' structure involves a fixed 0.04% fee at trade execution, covering entry, exit, and an upfront slippage fee.

These fee structures cater to different trading styles and preferences, offering flexibility and transparency to Rollbit's users.

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Rollbit Coin (RLB) Tokenomics

Rollbit has introduced a pivotal update to its Rollbit Coin (RLB) tokenomics, primarily through the Buy and Burn initiative, launched on August 8, 2023. This program is a strategic move to reduce the RLB token's supply, enhancing its value. It involves Rollbit's Rollbot buying RLB tokens and burning 90% of them, with the remaining 10% allocated to Rollbot stakers. The initiative is funded by revenues from Rollbit's Casino, Sportsbook, and Futures Trading.

This shift in tokenomics, from relying on a lottery system for token burns to implementing the Buy and Burn as an ongoing process, is aimed at maintaining RLB's deflationary nature. The change addresses the slowdown in burn rate caused by reduced staking as RLB's value increased.

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Bottom Line

To sum up, Rollbit is a popular online crypto gambling platform that skillfully integrates online gaming, sports betting, and cryptocurrency trading. It offers a range of casino games, a broad sportsbook, high-leverage crypto futures, and an active NFT market, all supported by its Rollbit Coin (RLB). With a commitment to security, evidenced by licenses from Curacao and Cyprus, Rollbit provides a secure environment.