Last Updated on July 25, 2020 by CryptoCreed
Updated 2020: Site is Gone
One of the most addictive and fun ways to lose your money: Gambling. Most people have tried it at least once in their lives, with or without money. In recent years, online gambling has been growing larger and larger, adding billions to its market share every year.
A large problem in gambling is that cryptocurrencies aren’t widely accepted by online casinos yet. Although the market cap of cryptocurrencies has grown above 100 billion dollars, many large casinos still do not accept cryptocurrencies. Some do, but those are often very limited or do not own the right licenses, which can pose a problem in the long-term.
This problem also causes a decline in the use of Bitcoin and other Cryptocurrencies, simply because gamblers can’t use them easily for gambling purposes. This means that active gamblers would prefer to use fiat money rather than cryptocurrencies, so if cryptocurrencies are more easily used for gambling purposes, the popularity of cryptocurrencies themselves will grow as well, as it also brings some advantages, which I will list below.
Another problem is that the casinos that do accept cryptocurrencies, almost only accept Bitcoin. This causes other cryptocurrencies to “fade away” in the world of gambling.
Meet BetStreak: A licensed gambling platform that allows people to gamble with many kinds of cryptocurrencies! The platform will allow the top 10 cryptocurrencies (by market cap) to be gambled with. Betstreak will also allow gambling with its own Token (BST), which it is doing a Token Sale of as well.
Betstreak is also developing MCPA (Multi-Coin Platform API), which can be used by other licensed casinos, allowing players to gamble directly with their coins, instead of having to exchange them for a crypto/fiat currency they can actually gamble with, which would almost always cost them money, because of fees. MCPA will allow casinos to let players gamble their cryptocurrencies easily. This is a visualization of how it works:
Betstreak: A success already?
Listed as one of Askgambler’s top 10 casinos with a score of 9.23 out of 10, a profit of over 2150 BTC and more than 8000 registered players, you could hardly call Betstreak a failure. Being functional for just over a year, BetStreak has grown to one of the most widely known and one of the most successful online casinos.
Betstreak offers many different games, ranging from friendly games such as a Fruit Zen, to the space violence of Aliens Attack. It also manages an affiliate program, which rewards people who refer people to betstreak.co, the main website of Betstreak.co. A regular referral link looks like this: https://www.betstreak.co/refer/referals.
The BetStreak Token (BST)
To raise money for the development of features for BetStreak and the MCPA, advertising and more, BetStreak has decided to do a Token Sale of BST tokens. These tokens will be for sale for 0.001 ETH each, or 1000 BST per ETH.
There are multiple uses to these tokens, which I will discuss below:
- Gambling: You will be able to gamble with these tokens. The rewards will be paid out in BST as well.
- Trading: BST will be tradable and as tokens won’t be sold after the token sale of 200 million tokens, so the supply is limited and could even become less and less if people gamble their BST and lose it.
- Profit-Sharing: 25% of the profits of BetStreak will be split among the BST-holders, twice per year.
The total amount of BST will be capped at 200,000,000 (or 200 million). The total of 200,000,000 tokens will represent 100% of BetStreak.co. The tokens will be divided according to this diagram:
As you see, about 60% (120 million) of the tokens will be sold in the Token Sales (Presale and ICO). 5% (10 million) will be given away to Bounty program participants and 35% (70 million) to the Betstreak team.
Investing in BST
Although the presale is over, the ICO is coming soon (exact date is not certain yet, but keep an eye out on https://medium.com/@betstreak). The ICO will be selling 100,000,000 BST, worth about 100,000 ETH. Early investors will get more BST for the same amount of ETH. This is the token sale structure:
ICO week 1: +20% bonus
ICO week 2: +10% bonus
ICO week 3: +5% bonus
ICO week 4: 0% bonus
The ICO will accept Bitcoin, Ethereum and Litecoin as payment method, giving 1000 BST (+ bonus percentage) per 1 ETH worth of Bitcoin/Ethereum/Litecoin. Although the starting date of the ICO is not certain, it will most likely last for 1 month. More details about the ICO can be found in the whitepaper, at https://ico.betstreak.io/wp-content/uploads/2017/09/betstreakwhitepaper.pdf.
The Betstreak platform (including MCPA) will be a great advancement in the wonderful world of gambling with cryptocurrencies. Being the first licensed casino to accept multiple cryptocurrencies, it surely has a great future ahead. I’d say: Act quick, save your dick and invest in BetStreak ICO as soon as it’s released.
You can already use BetStreak and you can also get a free spin if you sign up for the ICO newsletter. Register at BetStreak here: https://www.betstreak.co/refer/referals. And make sure to check out the other posts on cryptocreed for more potentially succesful ICOs!