Betstreak – First Licensed Blockchain Casino Launches ICO presale tomorrow!
This article covers the Initial Coin Offering by Betstreak – one of leading Bitcoin casinos.
https://www.betstreak.co is not as old as some other well known Bitcoin gambling websites, but they are one of the few who are properly licensed. Since their launch in August 2016 they’ve grown to a significant business, claiming over 3,500,000 Euro and 1500 BTC wagered with profit of over 2150 Bitcoin! Like many others, they currently accept BTC and fiat currencies, and are offering games by well known and licensed providers.
Betstreak is currently listed among Askgamblers’ top 10 casinos and has a pretty great score of 9.23/10 there, supported by positive reviews. Betstreak claims to have over 8000 registered player accounts and stable growth of new ones each day.
Why is Betstreak launching their ICO?
They’ve explained it like this:
„We are looking to develop a new platform to accept different types of crypto-currency to allow players to wager their different cryptocurrencies on one platform. We are looking to make www.betstreak.co and crypto gaming grow even bigger and inviting you to be part of it and share the success.“
Further explanation of current problems in market of gambling with cryptocurrencies they address is legality of sites who offer bitcoin games and market potentials. Since online gambling aims at 58 billion USD in 2018, and only about 5% of online casinos accept cryptocurrencies as means of deposit, Betstreak wants to change that. And this sounds great to us: this would allow the players to avoid expensive credit card processing fees, will have fast transactions etc.
Additional problem they’ve noticed is that many of popular crypto game sites aren’t actually licenced at all, which is or might become a problem for players and operators, as online gaming is a highly regulated industry. On the other hand, licensed casinos only accept Bitcoin as a currency, while many other perspective cryptos are not usable on current major gaming platforms.
This is why Betstreak is running an ICO – to crowdfund the development of new platform and games, which will help to overcome existing problems, and make Bitcoin and other cryptocurrency gambling more accessible and secure for everyone.
„We will be developing a online payment wallet system to allow players who hold Top 10 crypto tokens by market cap, so players can use other crypto-currencies other than bitcoins to play in a licensed online casino.“
Betstreak ICO stages and timeline
Betstreak.co is going to create 200,000,000 erc 20 tokens (Betstreak tokens or BST) to represent 100% of www.betstreak.co. No new tokens will be created. Here is how they will share them:
Early backers will get a larger percentage of the shares from the crowd-sale meaning they will receive more coins the earlier they contribute.
Initial exchange rate is 1 ETH = 1000 BST, but there are bonuses for those who invest earlier:
Pre-sale = 30% bonus – 1300 BST
Week 1 = 20% bonus – 1200 BST
Week 2 = 10% bonus – 1100 BST
Week 3 = 5% bonus – 1050 BST
Week 4 = 0% Bonus – 1000 BST
ICO will start on Oct 1st 2017 at 0:00 GMT +8 and will end at Nov 1st 2017 at 0:00 GMT +8 (it also might end earlier, if hard cap is reached). After the ICO has ended, 120,000,000 BST will be distributed proportionately to all contributors based on contribution tranches in 2 weeks time. Currencies accepted in ICO are Bitcoin, Ethereum and Litecoin.
How will they spend it?
20% for increase of current casino bankroll to be able to accept larger bets
10% for operational expenses (staff, new products, …)
40% for R&D and implementation of the MCPA (Multi Coin Platform API) which will enable Betstreak and other casinos using their platform to accept currencies other than Bitcoin, such as ETH, DASH, NEM etc. A portion of theese funds will be used to apply for Malta Gaming Authority License (MGA), which should furthur protect players’ deposits and benefit the casino reputation
30% will be used for marketing and promotion of Betstreak website
What is this MCPA?
It’s probably best to quote an explanation from Betstreak ICO whitepaper, so we don’t interpret anything wrong:
„We are working to develop a Multi Coin Platform API (MCPA) to allow different cryptos to be played with existing casinos platform. Due to heavy regulation in the Casino Industry, game providers and payment processes are still mostly using fiat to transact. Within the limited number of bitcoin casinos, bitcoin is still being used extensively for playing of games and in-game currency. The MCPA will allow players to use any coin ( LTC, ETH, BCH etc) to play and transact using their native coins. Players do not have to worry about exchanging their coins or exchange rates losses. MCPA can also be used as a API plug-in for other licensed casinos, hence we can use this as one of our main revenue stream as we charge a fee for the usage of the MCPA.“
How to be part of Betstreak ICO?
To buy BST during the presale period you need to register at https://ico.betstreak.io and deposit the amount BTC/ETH/ LTC you wish to contribute. Pre-sale will starto on September 23rd 2017 and will be announced by email to the registered backers. If you miss the presale, you can still join when the actual ICO starts, and still get a nice bonus.
Official Betstreak Site: www.betstreak.co
Official ICO Site: ico.betstreak.io
Official Betstreak Facebook: https://www.facebook.com/betstreak/
Official Betstreak Twitter: https://twitter.com/bet_streak
Official Betstreak Telegram Channel: https://t.me/betstreakICO
Official Betstreak Telegram Discussion Group: https://t.me/betstreakICOdiscussion