BetBase – blog

End of the betbase ICO

Betbase.io ICO is officially over.

What are the results?

Casinos: 74

Users: 531

Bets: 12 017

Wagered: 2.47862884 BTC

Profit: 0.08241581 BTC

Pageviews: 10699

ICO crowdfunded: 5.86917865 BTC

Balancing

Is it successful? Well, it depends. Site growth stats are amazing and new casinos are created every day. However amount collected is very low. It’s so low we had to think hard what to do next.

False assumption was that finished product is better than marketing hype based on pure air. ICO without any product was able to collect much more money so people don’t care that much about product itself. Odd, right? We rushed to have product done and ICO done before Christmas but we should have announced it way sooner so people can prepare themselves on the whole process. Lesson learnt. We are now working much more with press and we will be soon interviewed on coininterview.

Another part could be anonymity concerns. Although we are well known at bitcointalk and Johny is legendary user there, it’s hard to move that credibility beyond bitcointalk forum. We are also taking steps in that direction. After our lawyer examines the whole legislation and we assess our options, we want to reveal our identities.

However in our opinion the biggest problem is novelty of the platform. It takes time to create whole ecosystem, find casino owners, edit casinos, make campaigns for them and attract users. It may be hard to see all possibilities when we have just started.

Where this all leads?

After internal dialogues we have come up with conclusion that we will refund all money collected during ICO and we will not issue any shares – yet. We will fund the bankroll and cost of platform from our own pockets with help from individual investors who might reach us.  Goal is to create healthy betbase ecosystem full of various bitcoin casinos and plenty of users. Only then we will launch another ICO. If you want to profit from betbase growth, don’t worry, ICO bounties will remain open until the next ICO – year or two.

So what will be the process of refunds?

Starting today there is 7 day period in which we will be contacting you and refunding you. You can also reach us at e-mail support@betbase.io or bitcointalk accounts (betbase.io or johny1976). After that there will be 24 hours in which you can contact our escrow (bitcointalk user Rhvar) and discuss potential disputes. Then the first ICO will be closed and platform will continue to work on its own.

ICO bounties will stay active until next ICO which will take place once the platform is well known and has growing ecosystem full of casinos and users – year or two into the future. Final decision is on betbase team.

We are working on another free scripts and new features for betbase.io so stay tuned! Betbase will be for now self-funded and if you want to invest in us, just contact us at support@betbase.io and we can discuss it.

We have just started.

To end this post I have to say that so far we have learnt so much during whole ICO process and met a lot of interesting people. I believe it will help us to spread betbase.io to broader audience beyond bitcoin ecosystem.

Thank you for all your support!

Betbase.io team

 

We’re doing great

This is just quick update. Since our announcement on 23rd November we have received many reactions.
Thanks to your feedback we have decided to use escrow service of “RHavar” and he will also provide betbase security audit.
We’ve already fixed some minor bugs and we have launched ICO.

In just 5 days betbase has:
– 3 active casinos
– 425 Users
– 6,266 bets operated

As you can see we have been able to gain a lot of traction in only few days and we strongly believe this trend will continue.
Join our ICO here:
https://ico.betbase.io

We’re launching BETA

Changes in the world
Technological changes usually disrupt old ways of doing things. Internet changed how we communicate and transformed us from being mainly consumers of information to being also creators.
Many people are able now to express themself via internet and earn money for it. The only problem is that fiat money aren’t ready for internet age. It’s expensive, inefficient and slow to move them around the world.
Money are managed by banks who are too rigid to keep up the pace with innovation around the world. Luckily bitcoin happened and now anyone without any restrictions can be part of monetary system.
Anyone can start it’s own bank account.

New opportunities
As bitcoin ecosystem grows, it brings new opportunities for people involved. Bitcoin world is full of possibilities and hopes. It’s wild west of the 21. century with both its pros and cons. Anyone can start a project or business.
There is little to non limitation and that brings us to gambling industry. It classic world casino business is dominated by big players who can afford to pay thousands of dollars for software development, bankroll and legal costs.
Ordinary people have limited options if they want to run casino business. Well, until now. Betbase is here to change it and allow literally anyone to start its own casino.

So what is betbase?
Betbase is platform for bitcoin casinos. It’s the only place you need to start and run your casino and you can use it for free. We provide you with free ready made casino scripts, shared bankroll and we get rid of the risk involved because we pay you for every bet, even the ones against the house.
You can also create custom casinos using our api and bankroll. If you have unique needs, we are also offering custom development. You can contact us at info@betbase.io.
Our vision is world, where anyonce can start a casino business easily.

Ready made scripts
We have created for you casino scripts so you don’t have to worry about casino software at all. It’s completely free and fully open so you can edit it as you wish.
If you have unique needs, we can help you we custom development. Just contact us at info@betbase.io
We are currently offering Dice script and Roulette script. In the coming months we will develop Lucky Wheel script and Slots script. It will be also available for free.

Shared Bankroll
If you want to start normal casino, you usually need to invest money into bankroll. Well, not with betbase. We are sharing bankroll with so you don’t have to invest any of your money.
If you want money for campaign and faucet, you can deposit bitcoins into your casino. Almost all funds are stored in cold storage and we will be manually releasing them for maximum security.
Our hot wallet on the other hand ensure that payments are instant and automatic so your players will have outstanding experience.

Get paid for every bet
Every bet your casino makes is a profit for you. For every bet made you’ll get paid 50% of the house edge of the bet. For example, if player bets 1 BTC in your casino and the house edge is 1%,
you’ll get paid 0.005 BTC (50% of 1% of the bet) no matter if player wins or loses. We take the risks. Your only job is to make sure you have enough players in casino.
You can also withraw instantly your profits.

Experienced team
Betbase is owned by Cryptoli and its team members are developing bitcoin casinos since 2013. You may heared about some of the scripts we made (CoinSlots, CoinDice, CoinWheel or CoinJack).
Our lead developer Johny1976 is reputable member at bitcointalk forum and has a lot of experience with bitcoin businesses.

Owned by shareholders
Betbase will be owned by shareholders. Everyone can participate in public ICO between 27th of November and 18th December 2016. We will be releasing more info about ICO in upcoming blog posts so stay tuned. In the meantime, you can read our ICO page.