Online betting has witnessed a notable growth over the past few years. In fact, the online betting world is expected to reach a value of USD 128.2 Billion by the year 2026. While the technological advancements have made betting more accessible to global players, it has also given rise to critical challenges that cannot be overlooked. The existing centralized betting networks possess setbacks such as excessive control, security issues, lack of user-friendliness, etc., that keeps players from making maximum profits out of this system.
CyBet is a community that has leveraged blockchain to make the betting system more decentralized and user-centric. Moreover, the platform has incorporated smart contracts to ensure secure betting and payment transfers. With the help of CyBet tokens, users can also participate on the platform as a betting company by listing their odds, or participate individually by selecting their preferred odds of the favorite games.
Features of the Platform
CyBet offers a decentralized, secure, borderless betting platform with reliable solutions countering the complexities of the conventional betting paradigm. Some of the fundamental features of this ecosystem are:-
● Responsive Design
The technical connoisseurs of this platform have incorporated state-of-the-art mobile and web technologies to offer an exceptional betting experience to the players.
● Safety and Security
All the betting rules are integrated into the CyBet token’s smart contract to ensure that both, the individual participants and companies are not vulnerable to security threats.
● Effective Communication Channel
All the users on the platform are provided with a private messaging channel that offers instant and secure communication between the participants and companies.
● Easy Purchase and Sale of Tokens
The platform has made the tokens readily available on top exchanges to facilitate easy buying and selling.
CyBet Club Platform
CyBet Club platform enables users to set betting odds or place a bet on the top sporting events from anywhere around the world using smart contracts. The platform is self-regulated and the betting companies listed on it are known as bookmakers. It also enables users to bet anonymously and protect their identities.
The entire CyBet operating revenue is used to reward token holders, by taking the token out of the circulation for a 1000 days. The more bets that players make, the more valuable do the CyBet tokens become. This is because taking the CyBet token out of the circulation reduces the token supply and the scarcity drives up the price of CyBet in the market. This phenomenon is denoted as value coupling.
The CyBet token has issued 60 Million tokens for sale with a soft cap value at 25 Million. The token sale was initiated on November 12th, 2018 and will end on December 11th, 2018. The token distribution is executed in the following manner:-
● Token sale – 60%
● Team and Founders – 15%
● Reserve Fund – 8%
● Ecosystem Development – 7%
● Marketing and Bounty – 6%
● Board Advisors – 4%
The fund allocation will be implemented in the following manner:-
● Product Development – 40%
● Marketing – 20%
● Business Development – 12%
● Future Enhancements – 10%
● Operational – 8%
● Partner/Investor – 6%
● Contingency – 4%
CyBet – A Blockchain Solution to Betting
CyBet has leveraged technologies like blockchain and smart contracts to decentralize the conventional online betting platform. It is a self-regulated betting ecosystem where activities are owned and managed by the community, thereby allowing players to harness maximum profits.
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