Presently, the overall online betting market capitalization costs over USD 50 Billion. While the advancements have been transformational, the online betting landscape still deals with many challenges due to excessive centralized control. The operation of conventional online betting systems reflects a dictatorial management form in which a tenacious process is followed. This process doesn’t allow flexibility and diversity that players expect, thereby impact their earning potentials.
CyBet – A Decentralized Solution
CyBet is a transformational betting network that has leveraged blockchain technology to eliminate the inefficiencies of the standard online betting platforms. The ecosystem aims to become the world’s first decentralized betting network and make the betting system more efficient and profitable for players across the globe.
Denoted as CYBT, CyBet token is an ECR20 complaint wherein 1 ETC = 1,000 CYBT. It will be used as a primary medium of exchange, unit of account, and to store value. Users can acquire this token during ICO period and post that they will be available on:
- Platform instore token reintroduction
Features of CyBet Network
Essential features of CyBet ecosystem that makes it stand out from rest of the online betting network are:-
- Responsive Design
Presently there are 2,221.9 Million mobile gamers across the world. Identifying this significance, tech experts of Cybet has incorporated latest web and mobile technologies into the system to offer seamless betting experience on various devices.
- Maximum Security
CyBet has integrated smart contract into its network. This technology enables users to perform various betting activities securely and transparently
- Ease of Communication
The network offers bookmakers and participants a dedicated communicational dashboard that enable instant private messaging
- Easy Token Exchange
CyBet has listed the CYBT token on leading exchanges, thereby allows users easy accessibility of tokens to facilitate transactions
Below are the two stages of CyBet ICO:-
- Private Token Sale
1,000 tokens were released on a limited initial token sale, which was restricted to community developers. The sale was primarily aimed at facilitating sales content development.
The platform has offered 60 Million tokens for crowdsale and the users will receive their token immediately after the purchase. Moreover, all purchased tokens will be ready for trading immediately. Initial participants of ICO are eligible to get a discounted rated on future token sales.
The tokens were distributed in the following manner
- 60% – Token Sale Program
- 15% – Team and Founders
- 8% – Reserve Fund
- 7% – Ecosystem Development
- 6% – Marketing and Bounty
- 4% – Board Advisors
Post the completion of token sale in December 2018, the platform plans to allocate the fund in the following manner :
- 40% – Product Development
- 20% – Marketing
- 12% – Business Development
- 10% – Future Enhancements
- 8% – Operational
- 6% – Partners/Investors
- 4% – Contingency
CyBet – Optimizing the Online Betting Experience
CyBet has identified the concerns related to present centralized online betting operation and brought an effective decentralized solution to the players worldwide. By integrating blockchain and smart contract technology, it has ensured that the betting process is aimed at extending players with optimized opportunities to earn substantial returns on their investment.
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