CyBet – Bringing Transparency and Reliability in the Online Betting Network

By Swati Kishore

CyBet is the world’s first decentralized blockchain-based betting platform. Based on Ethereum, it brings the betting companies and participants on the same platform. Betting enthusiasts can join this platform and easily lay bets on their favorite sports and earn profits. One can become a member of this platform by buying the CyBet token which is right now available on sale.

Cybet is solving a fundamental problem facing the world of online gaming. When people lay bets, chances are that they might lose it because the betting companies will always hold an upper hand. However, on CyBet, betting participants are treated the same way as the betting companies and there is a nu unfair advantage. People can list their odds here by selecting their favorite sports and improving their chances of winning.The CyBet platform is decentralized and no one person or group owns this platform. This platform is deregulated, hence betting players need not worry about needless rules and regulation from government authorities impacting their betting experience.

Maximum Security and Transparency

Based on Ethereum, the CyBet platform uses smart contracts to facilitate security transparency. Each of these contracts is verified by the blockchain members and then entered into the system. Moreover, the platform also enables users to maintain anonymity by offering anonymous transactions.

Value Coupling

This is an interesting proposition from CyBet. CyBet tokens will be taken out of the platform for 1000 days. This artificial scarcity would drive up the value of the token and ultimately, more number of people would lay bets on this platform.

Features of CyBet Platform



Following are the key features of CyBet Platform:

Responsive Design- The platform is equipped with the latest web and mobile-based technologies to provide efficient betting experience to its users. Easy Communication- Betting companies and participants can exchange messages easily and securely through private messaging. Smart Contracts- All the betting rules are encrypted in the smart contracts on the blockchain, thereby offering optimum security Easy Availability of Tokens- During the token sale, all tokens can be bought on various exchanges easily.

Features of Token sale

CyBet tokens (CYBT) can be bought until December 12, 2018. To buy them, buyers need to send their ETH tokens from their wallets to the exchange. Currently, 1 ETH=1000 CYBT.

Buyers can use the various wallets for buying CYBT:

MyEtherWallet

Mist

Parody

Metamask

imToken

Token Sale

CyBet tokens will be sold in two ways:-

Private sale- 1000 tokens were offered to private entities like developers, sale and marketing people etc.

Crowdsale- So far, 60 million CYBTS have been put up for sale. They can be purchased on the CyBet website. Buyers of these tokens will be given a 20 %discount in the next round of token sales.

Token Allocation and Distribution

CyBet will allocate its 199 million tokens in the following ways:

60 %- token sale program

15%- team and founders

8%- marketing efforts

5%- Reserve fund

4%- Board advisors

7%- Development of the ecosystem

Revenue would be utilized in the following manner:

Product and business development

Marketing

Partner and investor relations

Future enhancement

Operational

Contingency

Post the token sale, CYBT can be acquired through exchanges and laying bets on the platform.

CyBet – Optimizing the Profitability of Online Betting

The CyBet betting platform is decentralized betting network based on the Ethereum technology. It aims to democratize the entire betting activity by bringing the entire betting community together. It is a self-regulated platform wherein all betting participants have a fair chance of winning the odds and earning greater profits

Know more about Cybet on :

Website: http://www.cybet.club/

Bitcointalk: https://bitcointalk.org/index.php?topic=5062665

Telegram: http://t.me/Cybet_club

Github: https://github.com/cybetclub

Swati Kishore Swati has a keen interest in emerging technologies and she loves to write about them. She loves trance and is also interested in the philosophy of life.







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