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Steem-Bet investment possibility: Will I jump on the Steem-bet wagon?

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fullcoverbetting
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5 months agoBusy5 min read

Yesterday @steem-bet did announce that they did introduce an extra token. They already had the SBT token, which can be earned by playing the games. Each time you have earned 1000 SBT or more, you can stake the SBT in the reward pool and claim a part of the dividends.

SPT

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But now they are also offering you the chance the own a part of the house. They did create 80 million SPT tokens. These tokens can’t be obtained via playing the game but you will have to invest!
They will open 3 investment rounds and it can be seens more or less like an ICO.
In the first round 4.000.000 SPTs will be available. In this round you will get 80 SPT per steem invested. But be warned that the minimal investment is 250 steem.
In the second round the bonus will drop a little to 30% and 12.000.000 SPTs will become available!
In the third and last round, which is called the crowd sale, 32.000.000 SPTs will be offered to the market. Here the bonus will decrease incremental from 20% to 0%.

At the base a 1 steem investment will give you 50 SPTs.

What I do like about the offering is that they will back SPTs in the future. So like it should it will be a real investment. Also the tokens which will be bought back will be burned. Meaning that the ones who won’t sell the token will get a bigger share.

Dividends

If we do take a look how they will distribute the dividends it seems fair. 40% of the dividends are reserved for the SBT holders, 30% is reserved for the SPT holder, 10% will be used for future prize pools and competition and the remaining 20% is to cover the operational costs.

Whitepaper

Well just like an ICO they did create a whitepaper which does look legit and has all the detailed information in it, which is necessary. In the crypto world with only virtual assets, trust is the most important thing a project has.
A few weeks ago, steem-bet did get a huge trust blow, but we will have to give the guys credits. They corrected all the mistakes they made after a consultation round with the community. They did respond to all questions and came up with a solution which did satisfy the community!
So, in the past 2 week the guys of steem-bet did gain a lot of trust in my eyes!

Roadmap

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The launch of the first new game “Roulette” is planned for tomorrow! Really looking forward to that, this will be a nice addition to the gambling games on the steem blockchain! But they do have more plans for the rest of the year! The question is of course if they can deliver! Time will tell.

They are planning the following games:

Million dollar slot game

We already have a slot game on the steem blockchain, but @steem-bet will be pushing it a little bit further. They will launch a progressive slot game. Meaning that 1% of each of every wager is added to the progressive jackpot. This jackpot can go up to one million dollar! That is more 2.2 million steem. What about that!

Fomo fruit machine

Each square ha sa target (usually a type of fruit), and each square has a small light at the bottom. After the player puts in the bet, select a target and presses thestart button, the small light starts to rotate around small squares. When the small light stops, if it lies at player’s bet target, player wins. They will also add some FOMO feature but it is not clear yet how this will work!

Others

Some kind of multiplayer Monopoly game, a crash game, Red and black (I do think that this more like punto banco) and the bull betting game (I do think that this is some version of Caribbean stud poker).
But what did catch my interest is chapter 3.7 in the whitepaper! Sportsbetting!!!! If they can pull this one off, it could turn into gold!

Will I invest?

Last night I did read the whitepaper three times and asked a lot of questions to one of the developers of the game. I have to admit, that investing will be a gamble. But hey I am a gambler. Okay a small one.
But sometimes you do have to take some calculated risks! Steem is very precious for me, for sure with in my quest to dolphinhood! This investment could set me back a little bit or slow down my progress!
But the team is willing to listen to the community, the only problem they have is that the community isn’t that big yet! Which could be the problem.

But after a lot of thoughts I decided to invest 250 steem into it! They do promise to have a buy back program!

So, yes I will invest. I will use the current drop in value of steem, to purchase 250 fresh steem!

If you want to have a look or also like to invest feel free to use my referral link!
https://steem-bet.com?ref=fullcoverbetting

If you have any question about steem-bet, the SBT token or the SPT token, you can ask them in their discord channel or you can just ask me. I will try to answer the questions and if I don’t know the answer I will find it out!

Cheers,
Peter

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