www.gamebet.gg Launches GameBet Coin (GBT) eSports -- SALE OVER!!!

[etparle]

Hey guys, quick update about how things have been going and some news about the referral system.

Firstly, we apologize for down time that was caused due to us updating our SSL certificate so that our site now makes use of HTTPS and WSS. Secondly and more important, we received some down time due to a DDoS attack today (our very first, we're no longer DDoS virgins now, hooray).

This particular DDoS attack is known as HULK attack. This attack is specifically designed to prevent server defenses from recognizing a pattern and filtering the attack traffic which utilizes a bot net and proxies. We were able to combat and mitigate this attack within 6 hours by utilizing THOR - more can be read about it here: https://www.trustwave.com/Resources/SpiderLabs-Blog/HULK-vs--THOR---Application-DoS-Smackdown/

This attack has made it clear to us that our competitors see us as an imminiate threat and see our potential is real. To further combat such issues in the future we are reaching out to professional pen testers to begin testing our systems via black box and red box testing as well as conduct our own internal white box testing. We will be posting the results of these tests in the near future and we thank you for commited support and interest in the GameBet venture.

And now the less techy stuff - Referrals:
Our system makes use of a multi-tiered referral system. That means, you will receive income from not only your referrals, but your referrals's referrals! To give you a working example of this, I will explain both situations using our default referral values:

Suppose there is Peter, Quagmire and Joe:

Peter says "Hey Quagmire, check out this cool site GameBet I think you'll like it" and links him to his referral url.
Quagmire says "Wow peter, this looks like a cool site" and signs up.

Peter has referred Quagmire (so referrer = Peter, referral = Quagmire).
A small percentage of Quagmire's losses will go to Peter due to our referral system.
"Hey Peter, I bet 10 GG on that site you showed me and lost... but at least you got 0.10 out of it right?" (1% of referrals losses go to the referrer).

Quagmire gets his friend Joe to signup.
Quagmire has referred Joe (so primary referrer = Peter, referrer = Quagmire, referral = Joe).

Joe bets 10 GG and loses his bet, but 1% (0.10) will go to his referrer (Quagmire) and 0.5% (0.05) will go the primary referrer (Peter); and the remainder (in this case 98.5%) will be a part of the loser pool that got distributed to people who bet correctly on that match.

The more people you refer, and the more people they refer allows you to have a greater residual income as they gamble on the platform.

We expect to have another update for everyone early in the week.

that is a very good referral system and referral is one of the best way to gain a lot of clients in a short period of time. Will the referral be paid in GBT or BTC?

[favdesu]

And now the less techy stuff - Referrals:
Our system makes use of a multi-tiered referral system. That means, you will receive income from not only your referrals, but your referrals's referrals! To give you a working example of this, I will explain both situations using our default referral values:

where do I see the in-depth ref stats?

and do you offer promotional material such as banners?

[CoinHopper]

I was away on business the last 8 days and get back to this wonderful thread. Sure does making the wait from the pre ann to the ann much more worth it.
I love the idea, I do believe this team is the team who can get it done and you've got my vote of confidence.
I'll be investing this week, Just one quick question tho, If I invest in the investment level 2 for the legendary tier will I be able to get extra SS on my deposits?
I see the common and rare get it but not the legendary. I'll still invest would just like to know first.

[spacecreditcoin]

Great opportunities here

[CoinHopper]

Posting my wins last night.
Who lost to me? 





I was lucky enough to turn my 10$ in deposits into a touch over $30

I will admit it. I lost my bet on seogui. good win. maybe tonight i win it back from you.

did you just lose another 22$ to me?

Happy to report that win of yours did not come out of my pocket!  ;DA Great streak of luck you're on tho. Did you win the two pending matches?

You guys may want to cut it out with posting your wins. The taxman may be watching.

[CoinHopper]

For a brand new site they sure are seeing some betting. Is anyone in on this action? Almost $90 on theses two matches alone and the site is brand spankin new!






And that's not including the $40+ in SS
 

[wayla]

And now the less techy stuff - Referrals:
Our system makes use of a multi-tiered referral system. That means, you will receive income from not only your referrals, but your referrals's referrals! To give you a working example of this, I will explain both situations using our default referral values:

where do I see the in-depth ref stats?

and do you offer promotional material such as banners?

Hopefully there is promotional material as I will be promoting this to get my refs for sure. Im sure there will be, if not then maybe a few of us chip in and get some made. Likely dev would give bounty to banner designer etc so we wont have to.

[orryde]

Posting my wins last night.
Who lost to me? 





I was lucky enough to turn my 10$ in deposits into a touch over $30

I will admit it. I lost my bet on seogui. good win. maybe tonight i win it back from you.

did you just lose another 22$ to me?

Happy to report that win of yours did not come out of my pocket!  ;DA Great streak of luck you're on tho. Did you win the two pending matches?

You guys may want to cut it out with posting your wins. The taxman may be watching.

I pay my taxes, and I doubt they'll be interested in my few hundred dollars in wins over the year. Or would they?

[gamerfan]

In my location you would not have to pay a penny tax as gambling has no tax unless a certain fresh hold of hundreds of $K in wins is reached and then you would pay tax as a pro gambler. Good luck finding gamblers to pay tax in crypto lol

[orryde]

In my location you would not have to pay a penny tax as gambling has no tax unless a certain fresh hold of hundreds of $K in wins is reached and then you would pay tax as a pro gambler. Good luck finding gamblers to pay tax in crypto lol

I don't think many do because Its to easy to hide but I agree, unless you are making a large amount of money you wont be even a blip on the radar of the tax man.

[Mr.Ease]

alright, i like the plan. So im going to throw a small .25 btc at ya ~ 103$. i was interested in how the tier levels are determined. As of time of deposit my btc puts me in that 101- 250 range, but if the price of btc falls off a bit before the end of crowdsale, would i be knocked down a tier?                    and one more question i have: With the GBT, in order to recieve the %profits, do the coins need to be on the site? Or could i hold them in the wallet to stake the 7% apr and still recieve the profit share?  -here is an idea- Maybe you could incorporate a staking pool within the site??? like how clams- dice works.. just some thoughts. I look forward to seeing this project succeed.

[El3k0n]

alright, i like the plan. So im going to throw a small .25 btc at ya ~ 103$. i was interested in how the tier levels are determined. As of time of deposit my btc puts me in that 101- 250 range, but if the price of btc falls off a bit before the end of crowdsale, would i be knocked down a tier?                    and one more question i have: With the GBT, in order to recieve the %profits, do the coins need to be on the site? Or could i hold them in the wallet to stake the 7% apr and still recieve the profit share?  -here is an idea- Maybe you could incorporate a staking pool within the site??? like how clams- dice works.. just some thoughts. I look forward to seeing this project succeed.

You bring up some good points. I will be watching to see how its answered as I have invested the exact amount at that moment in time it was worth a little more so I may have to invest more.

I also think it would be a great idea to be able to stake through the site.

[DailyModo]

Edited message.
You really need to work on the documentation and show it on the site also. Including rake size and from who it is taken.


Is the rake only on the loosing sides coins? So if A has 1000 coins and B has 10 coins. A wins you only take your % of that 10?

We are still in the process of discussing additional changes we would like to like to make to the referral system and we are open to suggestions to improve it, so if you have any thoughts on it feel free to offer them. Soon, we will be changing the description on the site and there will be a referral panel made for users to easily keep track of their referrals and how much they have earned from them.

This is correct about the house rake. With the current parimutuel system, we only take our cut from the losing side - not the entire pool. This is to ensure that winners never receive less than what they actually bet themselves which can actually occur on other sites that offer Steam item-based betting. When we shift towards player vs house betting (standard odds and multipliers like traditional betting sites use) which is planned for a future update this system will likely change a bit.

[bugsywugsy]

Cool idea, reminds me of gosugamers back when dota was on wc3

[albertocp]

Edited message.
You really need to work on the documentation and show it on the site also. Including rake size and from who it is taken.


Is the rake only on the loosing sides coins? So if A has 1000 coins and B has 10 coins. A wins you only take your % of that 10?

We are still in the process of discussing additional changes we would like to like to make to the referral system and we are open to suggestions to improve it, so if you have any thoughts on it feel free to offer them. Soon, we will be changing the description on the site and there will be a referral panel made for users to easily keep track of their referrals and how much they have earned from them.

This is correct about the house rake. With the current parimutuel system, we only take our cut from the losing side - not the entire pool. This is to ensure that winners never receive less than what they actually bet themselves which can actually occur on other sites that offer Steam item-based betting. When we shift towards player vs house betting (standard odds and multipliers like traditional betting sites use) which is planned for a future update this system will likely change a bit.

how about rewarding when people refer someone and they gamble their first $20 regardless of if they win or lose? like coinbase has a referral program when my friends buys $100 of BTC, I get $10

https://support.coinbase.com/customer/portal/articles/683805-how-does-the-coinbase-referral-program-work-

[orryde]

alright, i like the plan. So im going to throw a small .25 btc at ya ~ 103$. i was interested in how the tier levels are determined. As of time of deposit my btc puts me in that 101- 250 range, but if the price of btc falls off a bit before the end of crowdsale, would i be knocked down a tier?                    and one more question i have: With the GBT, in order to recieve the %profits, do the coins need to be on the site? Or could i hold them in the wallet to stake the 7% apr and still recieve the profit share?  -here is an idea- Maybe you could incorporate a staking pool within the site??? like how clams- dice works.. just some thoughts. I look forward to seeing this project succeed.

Do you mean like we keep our coins on the site and they still stake and then gamebet owners will pay us the stake?

[Vlizzjeffrey]

so the gamebetcoin itsself wont be used to bet with on the site? They are like shares for shareholders?( investors)
so 20 million coins will be sold in ICO? am i right?

[orryde]

so the gamebetcoin itsself wont be used to bet with on the site? They are like shares for shareholders?( investors)
so 20 million coins will be sold in ICO? am i right?

They said we can buy merchandise with the coin but I think its main purpose is for a place holder so people who invest can get paid.

[DailyModo]

INVEST NOW AT http://www.gamebet.gg/#Invest/Index
Crowdfunding will close on April 8th at 9pm California time.


Name: GameBet Coin (GBT)
Algorithm: POS 3.0
Initial Supply:  21,000,000
Dev fund: 1,000,000 of the 21,000,000
POS%: 7% Approx per year. (2.8 coins per block)
Security: Proof of Stake
rpc port: 17777
p2p port: 7777
Maturity: 4 hours
Block time: +/- 1 minute
Website: http://www.gamebet.gg
Twitter: https://twitter.com/GamebetGg
Steam: http://steamcommunity.com/groups/gamebetgg


https://vimeo.com/159311771
https://vimeo.com/160326041
More coming soon!


                                                                    


GameBet is a platform enabling users to gamble on sports and eSports matches through the use of Steam based items and cryptocurrencies such as bitcoin. Our platform will also provide a unique marketplace allowing users to exchange Steam items for cryptocurrencies which will not only put cryptocurrencies in the hands of an entirely new demographic but also influence the generations to come. It is free to sign up and anyone can use it. Users will be able to view streams directly on our site for live eSports matches (if available) embedded via streaming platforms such as Twitch, Azubu, etc.




GameBet's primary objective is to provide a comprehensive gambling infrastructure for gamers and sports enthusiasts. All of us are very enthusiastic about the growth of eSports and it?s upcoming rise over the last decade. We hope to grow our company as well as  to help grow eSports and put cryptocurrency in the hands of an entirely new demographic of users thus expanding the user and adoption of cryptocurrencies.

Currently, we are using a parimutuel betting system however once we have secured funding and have a bank roll we will shift towards player vs house odds based betting (traditional) for sports and popular games such as CS:GO and League of Legends.



Gamer Gold is a currency used on our site obtained from depositing cryptocurrency or in the near future selling your Steam Items to other users for Gamer Gold. Gamer Gold is represented in USD at the time of deposit, effectively it is a pegged currency (1 GG = 1 USD). GG can be withdrawn from the system as Bitcoin, can be used to place bets, and can be used to purchase items from the Steam Market Place.



Steam Silver is a currency used on our site obtained from depositing steam items on our system. Steam Silver is represented in USD (1 SS = 1 USD). Steam Silver can be used to place bets as well as purchase items from the Stream Market Place. In the near future, there will an on-site exchange allowing users to directly list orders for Silver and Gold.



GameBet Coin is a currency used on our site obtained from the initial crowdfunding or from cryptocurrency exchanges. GBT will be used to purchase GameBet merchandise (coming soon) as well as actively participate in our Loyalty Reward Program to earn a cut of the company?s profits. Continue reading for more on our Loyalty Reward Program



We will be selling a maximum of 10% of our profit generated earned through betting and commission from Steam item sales on GameBet. Ideally we are looking to raise $100,000 USD, however if this expectation isn?t reached we have broken down sales into benchmarks
< $50,000.00 - 15%
$50,000.00 - $75,000.00 - 22.5%
> $99,999.99 - 30%

It is important to note these are initial values. Over the spand of a year the value of %-sold will be lowered by 33% a maximum of 2 times. For example, if 30% is sold initially, after 6 months it will be reduced to 20%, and then after another 6 months to 10%. This is to address investors return-of-interests as we understand profitability within the first year of operating will be lower than in the long-term.

Depending on how much is raised, the sold percentage will be distributed to investors based on their total GBT coin holdings. Payment will be issued via our Loyalty Reward program, see below.



Funds raised will be used to further our vision for GameBet. We will be allocating the funds to different parts of the business such as marketing, development, server costs, legal, bankroll ect.


20% will be used for marketing. This will include press releases, eSports and Steam group advertising, Twitter and Facebook ads and the large portion of the marketing budget will be put aside for a marketing firm who specializes in eSports and gambling. We expect that alone to consume about 75% of our initial marketing budget.


10% will be used for development. This will include the future buildout of the site to include the updates to our infrastructure such as the Gold/Silver exchange, fantasy betting and casino. A large part  of the development budget will ensure that our core developers have the time and ability to finish building out the platform in a timely manner.

10% will be used for server infrastructure. This will be used to build an offshore server network capable of dealing with the primary threats faced by any wallet and gambling service, with special attention paid to the matter of DDoS attacks and friendly DoS situations that may occur as a result of our growth to scale. A large portion will be dedicated to penetration and black-box testing to secure our wallet RPC and ensure a smooth customer experience.

60% will be used to cover our legal, banking and bankroll. We have hired two law firms to ensure that we are always ahead of the ball, in terms of laws and regulations in countries and regions of the world that we operate within. This is to ensure we can continue to provide a comprehensive service and experience to our customers and users. These funds will also be used to cover our bank roll in the future for when the site has expanded to support player vs house odds based betting (traditional).



The loyalty reward program allows users to register a GBT address within our system to receive a monthly payout directly correlated to our profits of that cycle. A user will be able to register a GBT address as well as an optional BTC address (to receive payout to) within our system. At the end of each cycle a payment will be made based on the amount (GBT) a user owns in their registered address and the total supply. Based on this it will determine the percentage of profits they receive. If a user chooses to register a BTC payment address their reward will be paid directly and automatically to it, if not they will receive their reward in the form of Gamer Gold (on site) which can be withdrawn at a later point as BTC.

Example:
Ryan owns 1,234,235 GBT out of 20,000,000 GBT eligible for the Loyalty Reward Program. Assuming the payout structure was at the 10% level and the company earned $72,000.00 in a payout cycle that means $7,200.00 (10%) is set aside for the Loyalty Reward Program, Ryan would receive ~6.17% of the $7,200.00 (~ $444.32) paid to him directly.





Daily M.
https://bitcointalk.org/index.php?action=profile;u=145371
Lead developer in blockchain technologies and coin development. He has been an avid gamer and supporter of crypto-currency for many years. Daily spent his formative years learning all facets of software development, and quickly turned his skills to developing the contacts and resources required to build a successful business. Years and many failures,successes and anything inbetween later, Daily is back to contribute the core foundation to this coin project as yet another push into his journey developing and maintaining cutting-edge crypto software.

John M.
A young, ambitious developer who has studied Software Engineering at the University of Waterloo. Has a strong background of over 7 years experience with Web Development (Flask, ASP.NET, JQuery, HTML/CSS), Python, C#. Worked on mobile development projects during his schooling at BlackBerry, but he?s always really been more of an Android fan. Enjoys online gaming such as League of Legends, DoTA and has a long history of playing MMORPGs such as the more recent Blade & Soul (NCSOFT).  Brought forth the idea of bringing a Steam-Item and Digital based economy to the cryptocurrency world allowing gamers to have easier access to obtaining Bitcoin.

Rafi L.
Hailing from Clark County, NV a professional gambler with expertise in marketing and casino based operations. Involved in global operations for both live and online casinos in relations to gaming and is the ideal addition to the team given the future expansions planned, such as casino and fantasy based betting. Will be a key component in creating connections going forward with leading gaming businesses.

Xypher
https://bitcointalk.org/index.php?action=profile;u=741694
Lead research analyst for the organization and assists in creating the trade engine that powers the link between in-game economies and the blockchain. His work comes at the intersection between technology and finance. He believes in utilizing technology to invent financial systems that empower the masses and change the way we see the world.



GameBet is an organization established to help the growth of eSports online gaming as well as promote the Bitcoin and Cryptocurrency industry. Officially registered in Costa Rica as a S.A. (Sociedad Anónima). The organization was registered through Marielos Meléndez J.D. LL.D. of Melendez and Bonzilla Law Firm.



Our pre-launch alpha lasted 7 days and allowed users to try out the system so we could gather organic stats,
we gave each user a balance of 100 gold (approx 100 USD at the time)
and let them use our alpha system as much as they wanted within the period of 1 week

Upon ending the alpha period 1, we collected the stats for all users, the results are as follows:
# of total bets during week 1: 764
USD:$14,227
GG: $14,227
SS: $0 (no deposits were allowed)

Week 2, we took back all the free gold, wiped all accounts to zero and allowed Bitcoin deposits; the stats are as follows.
# of Total Bets: 337 (Excluding House)
USD: 1187.65 (Excluding House)
GG: 965.38640000 (Excluding House)
SS: 222.2711146 (Excluding House)

# of Users from week 2; 161
Average Bet Size (GG): 2.86 (Excluding House)
Average Bet Size (SS): 0.65 (Excluding House)
Profits earned on week 2: $176.00 through betting and Steam item commission

Expectations, Profit Margins Simplified
Let?s consider an early ?ideal? scenario, where we have 100 people betting. Each user bets $10.00 - $50.00 (USD) creating a net-pool of $1,000.00 - $5,000.00. Let?s assume the bets were spread evenly causing $500.00 - $2,500.00 to be bet on team a and the same on team b. Suppose team b loses and the house performs a 2% rake on the losing side there would be a profit yield of $10.00 -$50.00.

Counter Strike Global Operative has typically around 100 competitive bettable matches in a week whereas League of Legends typically will see around 40-50 matches per week (LCK, LPL, NALCS, EULCS). Unaccounting for other esports games, if all 150 matches saw bets with 1,000 users with $5.00 bets there would be a gross of $7,500.00 a week.

It?s important to a note a few things here in terms of the numbers we?ve given: the numbers we?re using for our simple profit margins are very modest. If we look at CS:GO Lounge typically there is 8000-20000 unique users betting on each match -- and this is unaccounting for any of the other eSports or sports itself! If there were 15,000 users betting, and each had an average bet of $1.00 over 100 matches using the ideal scenario as described above, this would yield a gross of $30,000.00 a week.

We can only expect our expectations to be exceeded with the support of Sports based betting and future expansion in the direction of Fantasy based betting as well as Casino based gambling.



Even if you?re not a gamer eSports is constantly growing in popularity as in industry and over the last decade it has started to catch wildfire. It is now to the point where some more well known names such as of recent Shaquille O'Neal and MLB Star Veteran Alex Rodriguez have heavily invested into the League of Legends team Immortals.

We?re not not showing up empty handed and asking for money to start building something great. We?ve already started on it and we want you to be a part of it. Most ICOs, IPOs, Crowdfunding on Bitcointalk are entirely empty-handed and offer no proof that they?re actually going to deliver so any investor is left just hoping it?s successful - and when a project is successful you?re left feeling cheated if you didn?t manage to get in on the investment action early on.

This is a real opportunity to be a part of a team of dedicated professionals hellbent on being successful. Our long list of partners will help us to ensure that we reach our goals in a timely fashion and excel while doing it. Most importantly, remember - the house always wins







VPP Gaming Network
http://www.clanvpp.com/
https://vppgamingnetwork.com/
The VPP Gaming Network is an extension from the gaming community known as Clan VPP, which was born about 12 years ago by a small group of friends trying to make a friendly gaming environment. Over the years, the community grew and expanded from Counter-Strike to various other games including Day Z, Insurgency, and Team Fortress 2.



xTcR Gaming
http://steamcommunity.com/groups/xtcrgaming
A Casual and competitive gaming group spread out across 13 games, with over five hundred active users daily, xTcR Gaming is a global community for gamers of any demographic.




Bitsy Drone Services
http://bitsydroneservices.com/
Bitsy Drone Services is a photo/video production & marketing company with strong capabilities in drone photo/video as well as other drone based services (aerial surveying/inspections/3D mapping/construction reporting).  Bitsy's main focus is on creating marketing content (video production) for clients in the real estate market and to promote client products/services.  Bitsy creates custom content for it?s clients? social media accounts, online promotions, tradeshows, and general marketing campaigns.



Christopher Sanders
https://www.youtube.com/user/csandreas
Chris is a gamer, anime fan, and motivational speaker who promotes gamer/nerd culture and positivity through his YouTube channel.  Gamebet will be sponsoring video game related videos on his YouTube channel to help promote the site.  Chris is partnering with Gamebet to bring custom e-sports videos to our community and will be the video face of Gamebet.  We hope to utilize his talents in building a Gamebet community and bringing custom content to that community.




BOUNTIES

Translations:
Chinese- $20 Payable in GBT
French- $20 Payable in GBT
Spanish- $20 Payable in GBT
Russian- $20 Payable in GBT
Italian- $20 Payable in GBT
German- $20 Payable in GBT

Looking to hire a signature/avatar campaign manager.- Compensation TBD


Blogs/Articles (Best three will be picked by the team)
1st- $15 in GBT
2nd $10 in GBT
3rd $10 in GBT

Faucets
1st $10 in GBT
2nd $5 in GBT

Follow our twitter and receive 10 free GBT at the completion of the sale.


*Price of GBT in satoshi will be calculated at the end of the sale.

GameBet in other languages
Italian- https://bitcointalk.org/index.php?topic=1413288.new#new


[/center]

Updated the OP a little and we figure its worth a bump.
And we're still looking to get the bounties claimed.
Where are all the translators?

[DailyModo]

Edited message.
You really need to work on the documentation and show it on the site also. Including rake size and from who it is taken.


Is the rake only on the loosing sides coins? So if A has 1000 coins and B has 10 coins. A wins you only take your % of that 10?

We are still in the process of discussing additional changes we would like to like to make to the referral system and we are open to suggestions to improve it, so if you have any thoughts on it feel free to offer them. Soon, we will be changing the description on the site and there will be a referral panel made for users to easily keep track of their referrals and how much they have earned from them.

This is correct about the house rake. With the current parimutuel system, we only take our cut from the losing side - not the entire pool. This is to ensure that winners never receive less than what they actually bet themselves which can actually occur on other sites that offer Steam item-based betting. When we shift towards player vs house betting (standard odds and multipliers like traditional betting sites use) which is planned for a future update this system will likely change a bit.

how about rewarding when people refer someone and they gamble their first $20 regardless of if they win or lose? like coinbase has a referral program when my friends buys $100 of BTC, I get $10

https://support.coinbase.com/customer/portal/articles/683805-how-does-the-coinbase-referral-program-work-

We'll take it into consideration.