FAQ for CashBet Coin ICO

 

CashBet Coin FAQs

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CashBet plans to list CashBet Coin on cryptocurrency exchanges. We’re dedicated to maximizing the value of CashBet Coins through strategic currency management policies after the ICO. CashBet’s unique status as the only crypto-ready casino platform that is both profitable and fully-licensed will anchor and enhance its market valuation.

You will own CashBet Coin. CashBet Coin will be used by casino players, operators, content distribution partners and token holders in the following ways:

Casino Operators and Partners:
CashBet casino partners will be incentivized with rate reductions to use CBC to pay their licensing and maintenance fees. They will receive also revenue share payments in CBC.
Content distribution partners will likewise be incentivized with lower rates to use CBC to pay licensing fees to CashBet. Casinos incorporating games from CryptoRGS will be required to offer deposit and wagering in CBC, which will help sustain demand for CBC.

Casino Players:
CashBet Coin will be granted to players as a reward for referring friends.
Players who hold 1,000 or more eligible CBC tokens for the entire prior calendar month will automatically be granted CBC VIP status. (CBC VIP status will be suspended when the balance dips below 1,000.)

CashBet Coin Owners:
CashBet Coin is expected to be listed on the major crypto exchanges following the public token sale. CashBet will establish a currency management program following these guidelines:

Beginning late in Q2 2018, CashBet will destroy CashBet Coin in its possession on a quarterly basis equal to the equivalent of 25% of the company’s NGR. The more gaming revenue generated, the more CashBet Coin will be removed from circulation.

CashBet is issuing CashBet Coin as a utility token and not as a security. By purchasing CashBet Coin, you acknowledge that CashBet Coin confers only the right to access and use the CashBet platform. CashBet Coin ownership does not confer any equity, interest, or related right of any form with respect to CashBet or its affiliates or any related securities. Explicitly excluded are voting rights or rights to dividends or other distributions.

CashBet is issuing CashBet Coin as a utility token and not a security. That said, CashBet is committed to protecting the value of CashBet Coin. Although CashBet Coin will trade on an open market over which we have no control, CashBet is taking the following measures to stabilize the its value:
– We have agreements in place with our largest pre-sale investors to not aggressively sell or transfer CashBet Coin.
– Team retention tokens are being issued over a 24 month period to ensure that the market is not flooded.
– CashBet will destroy an equivalent in CashBet Coin worth 25% of the company’s quarterly casino profits. The volume of CashBet Coin in circulation will decrease over time.
– The casino operation itself has a mathematical house edge and will, on average, retain 5% to 10% of the amount wagered, effectively removing CashBet Coin from circulation.
– Players wagering with CashBet Coin are encouraged to hold at least 1,000 tokens over time in order to maintain status in our VIP program.

CashBet is issuing CashBet Coin tokens as a publicly traded cryptocurrency to power its B2C and B2B crypto casino offerings. CashBet Coin gaming and ownership will be uniquely useful and rewarding. CashBet will manage its currency with safeguards that deliver concrete advantages to CashBet Coin partners, owners, and players.

CashBet Coin aims to be listed on the major crypto exchanges following the public token sale. We are actively having these conversations with exchanges. Official announcements will be made here after the ICO, as well as via exchanges themselves if and when listed.

After the first CashBet Coin deposits are settled on the CashBet platform, CashBet Coin are intended to be fully transferable.

CashBet Coin is not designed to offer earnings. CashBet Coin provides concrete value and advantages to owners as well as CashBet casino partners and players. These benefits, plus CashBet’s currency management policies and CashBet’s distinct advantage as the only licensed profitable cryptocurrency powered casino, will back its valuation on digital currency exchanges.

Mobile gaming and cryptocurrency are two of the fastest growing, demand-driven markets in the world today. CashBet is merging these technologies into an iGaming solution and issuing CashBet Coin to solve the problems facing crypto casino operators and players today: speed, trust, cost, and content. CashBet Coins are not designed to offer earnings—we aim to provide concrete value and advantages to CashBet casino partners, players, and owners. These benefits, plus CashBet’s currency management policies and CashBet’s distinct advantage as the only licensed profitable cryptocurrency powered casino, are expected to back its valuation on public exchanges.

For more details regarding our use of blockchain technology, we encourage you to read our whitepaper at https://coin.cashbet.com.

CashBet Coin is pre-mined on the Ethereum platform. Note that the Ethereum platform is moving from a proof-of-work to a proof-of-stake model.

More public information on the implementation of the ERC-20 will be coming soon!

https://icobench.com/ico/cashbet

The pre-sale starts on January 24, 2018 at 5:00 P.M. GMT and ends on February 20 at 5:00 P.M. GMT. The public sale is expected to begin March 20 at 5:00 P.M. GMT and continue through April 27 at 5:00 P.M. GMT. The ICO will end early if the hard cap is reached.

The total supply of CashBet Coin tokens is 430,000,000.

33.25% (142,975,000 tokens) will be offered to purchasers; 35% will be put into cold storage to bank the casino; 16.9% will be used for team retention, locked up (vested monthly via smart contract) for 2 years; 8% will be used for paying referral bonuses; and 7% will go to advisors.

We are enforcing a soft cap equivalent to $5 million USD.

Our hard cap is the 142,975,000 tokens being offered to token purchases. Once these tokens are sold out, no additional tokens will be offered.

Our goal is to sell out and raise between $50M – $65M, depending on how the offered discounts get applied.

The total number of tokens available in the token sale is 142,975,000. This entire amount will be made available during the pre-sale, so it is possible that we could sell out during the pre-sale.

During the pre-sale, the minimum purchase is the equivalent of $25,000 USD. During the public sale, the minimum purchase is one CashBet Coin. There is no cap on purchases.

Stay tuned to our website for updates on the progress of our ICO.

Yes, we provide a bounty program for translation and regional support services. Learn more about it here: https://medium.com/@CashBetCoin/cashbet-coin-bounty-program-b03e6eb3e947

Yes, our referral program pays out a 5% referral bonus anytime your friends and family buy CashBet Coin using your personal referral link. Learn more about it here: https://medium.com/@CashBetCoin/cashbet-coin-referral-program-41e9969bba56

All funds are kept in ETH. CashBet manages its cryptocurrency reserves with the following wallets:

– A hot wallet that contains the appropriate amount of reserves to cover necessary bets. This is single signature that is controlled by the system.

– A warm wallet that is accessible by the system to cover unexpected losses.

– A daily “sweep” (depletion from the warm wallet) into cold storage backed by a hardware wallet with multi-sig.

Currently, the two countries that have banned ICOs/tokens are China and South Korea. In addition, the US residents of New York are restricted. Therefore these locations are all restricted from participating in the CashBet Coin token sale.

CashBet Coin is based on blockchain technology, a decentralized system that is not regulated by any one country. As of today, we do not believe that the use of blockchain-based cryptocurrencies (including CashBet Coin) is illegal in any country. In the unlikely scenario that your country of residence outlaws CashBet Coin, we expect that you will be permitted to sell your tokens in advance of the effectiveness of the ban.

You can purchase CashBet Coin at https://ico.cashbet.com. ETH, ETC, BTC, BTH, LTC, and USD (via bank wire transfer only) are accepted forms of payment. The funds are credited to your personal account in the system.

We do not charge any fees on payments. However, third party payment processors may charge fees.

When paying in USD, the wire transfer fee and speed depend on your bank. All fees charged by financial institutions in connection with wire transfers are paid by the prospective CBC token holder.

When paying in a cryptocurrency, transaction fees are charged by the relevant blockchain infrastructure. You set the transaction fee amount; that fee and network availability determine the transaction speed.

You can pay in ETH, ETC, BTC, BTH, LTC, and USD. USD will be only be accepted via bank wire transfer.

Yes, it is a good idea to transfer enough crypto in for your purchase. You do not want to wait for the transfer then not have enough to purchase the amount you want.

Can I fund my account with different cryptocurrencies?
Yes, you can fund your account from multiple cryptocurrencies. We accept ETH, ETC, BTC, BTH and LTC. Upon purchase, we convert ETC to ETH, and BTH to BTC, so we end up with balances in ETH, BTC and LTC.

Yes, you can transfer funds into your account from from multiple wallets. The only reason we ask for the ERC-20 wallet is to have a place to send CashBet Coin when the ICO concludes.

Yes, your funds will be held for you in your account. When the public sale starts you will have money all ready for your purchase of CashBet Coin. Please subscribe with your email on https://coin.cashbet.com so we can inform you of the ICO stages.

All confirmed purchases of CashBet Coin are final and non-refundable. By purchasing CashBet Coin, you acknowledge that neither CashBet nor any of its affiliates are required to provide a refund for any reason and that you will not receive money, cryptocurrency, or other consideration for any CashBet Coin that remains unused.

In the event that you fail to meet of any of eligibility criteria for participating in the CashBet Coin sale and your purchase has not been confirmed, we retain the right, in our sole discretion, to decline your request for a refund. Should we determine, in our sole discretion, to provide you with a refund because you fail to meet of any of eligibility criteria for participating in the CashBet Coin sale, we shall not be liable for any conversion, exchange, or other rate changes that may occur prior to processing the refund. Digital currencies, tokens, and digital assets are, by their nature, generally irreversible, and their exchange rates are highly volatile and transitory.

No, we have opted not to use an escrow service.

Protecting our investors is critical, and we take it very seriously. There will be a KYC process for this reason, and to ensure Anti-Money Laundering (AML) compliance. Below is what you can expect during the sale process:

Create your ICO account at: https://ico.cashbet.com/
– Link your ERC-20 wallet address
– Transfer Funds from your wallet address to the ICO address
– Wait for up to 20 network confirmations for your deposit to appear in your account
– Click ‘Buy CashBet Coin’ and follow the steps
– A KYC popup will collect information during the payment process- if you do not enter KYC we will return your funds (US INVESTORS – in addition, an accreditation popup will verify you are an Accredited Investor, if you are not we return your funds). For more info on what qualifies you as an Accredited US Investor, visit: https://www.investopedia.com/terms/a/accreditedinvestor.asp
-Before issuing tokens during the distribution stage of the ICO, we will run your KYC information, if you fail we will request Identification to verify you, if you fail again we will return your funds. This will be communicated via email.

You will need to go to https://ico.cashbet.com/users/sign_in and click the “Remind” Link in the Forgot password Remind dialog. A new email will be sent to you. Make sure you click the verification link.

We have seen issues where bad WIFI or a network firewall has stopped connection to our page. Please try another wifi connection or network and see if that helps. Make sure any network you connect from is secure.

First check and see if the email went to your Spam or Junk mail folder. You will need to verify your account before you can do anything else. You need to make sure that you use a valid email. If you do not get the email then you may have an incorrect address. We have no way to send a new verification email. You may need to create a new email account and sign up for the site again.

The https://ico.cashbet.com site allows for 2 factor authentication. You will need to download this plugin for it to work https://play.google.com/store/apps/details?id=com.google.android.apps.authenticator2&hl=en.

Please check your wallet address entry, which is case sensitive. See here for more information: https://myetherwallet.github.io/knowledge-base/addresses/not-checksummed-shows-when-i-enter-an-address.html

This is for protection. If you want to see your wallet address you will need to click the Profile link at the top of the page. It will open you profile where you can view and update your wallet address.

Crypto currency transfers can take a while depending on the blockchain network. We require upwards of 30 confirmations before we list your transaction in your account. You may need to refresh your browser to see the funds in your account. If you believe you have an issue with the transfer you can either talk directly with a CashBet admin or send an email to ico-support@cashbet.com. We will be able to track your transfer with your email. You may also track your BTC with https://blockchain.info/, ETC https://etherscan.io/.

CashBet will be distributing CashBet Coin within two weeks after completion of the ICO.

You can store CashBet Coin in your CashBet casino account or in any Ethereum wallet.

Top recommendations include:

  • MyEtherWallet (https://www.myetherwallet.com/)
  • MetaMask (Firefox/Chrome browser add-on)
  • Mist (Desktop)
  • Parity (Desktop)
  • Ledger (Hardware wallet)
  • imToken (iPhone/Android)
  • Eidoo (iPhone/Android)

You can use any ERC-20 compatible wallet. However that being said I encourage everyone to research their hardware wallets capability.

Yes, you can deposit your CashBet Coin in any Ethereum wallet, such as Myetherwallet.

We take CashBet Coin security very seriously. Payments in cryptocurrencies are secured by blockchain technology. Payments in fiat currency are accepted only via a wire transfer, which relies on international banking best practices.

Cashbet FAQs

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CashBet was founded in 2012 by gaming industry veterans and is the only mobile-first platform currently in the market for real-money, social, lottery, and skill-based gaming. The team has previous experience successfully building and selling online gaming platforms for CyberArts (Ultimate Gaming) and US Digital Gaming. The CashBet platform allows operators to run an iGaming business end-to-end, enabling robust game management, marketing, customer relationship management, support, and data analytics. CashBet is licensed by the Alderney Gambling Control Commission and the UK Gambling Commission.

Yes, we’re excited and proud to say we are the exclusive and official cryptocurrency and blockchain partner for Arsenal Football Club. Arsenal is a forward thinking, innovative sports club, and this deal serves as a signal of their thought leadership in embracing cryptocurrency and blockchain as technologies that are here to stay. Please see Arsenal’s official announcement of the partnership here on their website: https://www.arsenal.com/news/club-welcomes-cashbet-coin-new-partner. We’re also listed on their Partners page here: https://www.arsenal.com/the-club/sponsors-partners.

We launched in 2012. We are a profitable business, with a patented iGaming software platform that’s in use by iGaming operators around the world.

Launched in 2012, CashBet is a complete, mobile-first iGaming platform with an established, profitable presence in regulated gaming markets. We offer a complete software solution that enables operators to run a legal and profitable iGaming business end-to-end. There are tens of thousands of registered players, millions of Pounds Sterling wagered, gaming licenses in multiple jurisdictions, and customers from all facets of iGaming (real-money, social, and skill-based) from around the world using CashBet.

You can learn more about our platform here: https://www.cashbet.com/platform/

A software solution that allows operators and game developers to legally offer online real-money gaming without the need for licensing. CashBet platform operators use player segmentation, bonusing, campaign management, and other patent-pending CashBet features to enable a profitable iGaming operation from day one.

We have three primary revenue streams: (1) licensing our iGaming platform to digital operators, (2) revenue share on royalties from digital operators who license our platform, and (3) professional service fees for custom development.

CashBet is a privately held company. We do not publicly disclose financials. That said, if you would like to sign and NDA, please email info@cashbet.com and state your level of interest and we can share some more details.

We have 22 employees across engineering and development, business development, marketing and customer support. Our leadership includes veterans of the regulated, online gambling industry with many years of successful operation

Mobile gaming and cryptocurrency are two of the fastest growing, demand-driven markets in the world today. CashBet is merging these technologies and expanding our reach to service crypto casinos with a player-centric solution by offering CashBet Coin, which will improve trust, speed and cost. By leveraging blockchain technology, we increase transaction speed and scalability, provide greater transparency to instill player trust, and reduce transaction costs. By issuing our own CashBet Coin token, we aim to open up worldwide access to premium iGaming entertainment that’s provably fair, fast and flexible

CashBet is the only complete, crypto-ready, mobile-first iGaming platform with an established, profitable presence in regulated gaming markets.

We invite you to read our whitepaper to learn more: https://coin.cashbet.com/wp-content/uploads/2018/01/CashBet-Whitepaper.pdf

Our future plans are to make CashBet Coin a token in all areas of digital wagering. At this time we do not have a sports betting offering. We would just need to integrate sports betting into our CashBet licenced platform.

The CashBet iGaming platform is a licensable B2B enterprise software that enables operators to run a legal, profitable iGaming business. The patented platform can be applied to power real money, casino, social, eSports, sports betting and lottery games.

CashBet powers over 450 games. To see some examples of feature apps & websites, visit: https://www.cashbet.com/featured-apps-websites/

We’ll be adding more featured games here soon!

Yes, please visit the media coverage section of https://coin.cashbet.com.

CashBet is based in Alderney and its parent company, Mobile Gaming Technologies, Inc., is based in Oakland, California.