Seriously, its crazy seeing Satoshidice clones raising money in IPOs in this market.
But DAO.Casino is no Satoshidice clone. 1 ) Business model
They are attempting to build a platform for games of chance over Ethereum. This enables existing/new casino operators to build over this platform instead of starting from scratch. This will help the casino operators 'blockchain' their business - in the RNG, payment mechanism, trustless
DAO.Casino is NOT (or should not) be building games and spending a shitload of money getting and retaining customers. They will deal with specialists in the casino business who will pay them a % for use of their platform. This is pretty much the best business model that can one can expect.
2) Target market
They are targeting a current pain point in a huge market. If the token secondary market can value prediction market tokens at a market-cap of USD 300 million and IoT powering coins at a market-cap of USD 1,000 million then DAO.Casino seems like a decent bet.
The ICO market loves gambling issues.
3) ICO terms
They were raising a very modest (by current ICO standards) USD 15 million. The pre-sales response has made them go for USD 25 million. ICO participants get 70% of the BET tokens being issued.
The tokens allocated to the founders vest over a 2 year period. How many ICOs do this currently?
We have a detailed report on the DAO.Casino ICO at -
https://www.slideshare.net/TokenRating/ico-research-report-bet-token-issuance-by-daocasinoYou could get more details there. Comments welcome!
