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White Paper
Abstract
Hybrid Betting is an Ethereum-based betting game without a mandatory house edge.
Our model is totally different compared to any other betting platform out there.
No quotes, no man in the middle, just competitors that play against each other at the same level.
Our betting game platform is based on our token HYB, which is an Ethereum-based (ERC20) token.
Market Potential
The global online gambling market is estimated to be worth over $50 billion USD by the end of 2017 and is forecast to grow by around 10% for years to come.
With the advent of cryptocurrencies, allowing players to gamble with ease and with a lower house edge than previous options, cryptocurrency gambling has already garnered a significant proportion of this market potential.
A 2013 estimate suggests that up to 50-60% of all Bitcoin transactions were related to gambling at one point.
Although previously dominated by Bitcoin, Ethereum has become a major player within the cryptocurrency world, offering significantly more features as well as a shorter block time and lower transaction fees. As Ethereum gains more users it benefits from network effects, which are currently leading many users to invest in and use Ethereum over Bitcoin, leading its market cap to increase to $38 billion USD in June 2017.
Hybrid Betting can allow users to bet against each other without considering odds and the bookmaker edge: the brand new game we designed will allow punters to take care just of other punters in a game with no stronger parts.
Profit Model
Hybrid Betting profit model is based on the number of shifts played: each sport event can be a shift, we will take a small fee at the end of the betting phase (when punters make their decision) just before the event starts.
Events shift can be composed by one sport event or more events together: we will set up all the events shift but in the future we can consider that events shift can be created by players too.
We are considering a fee from 0.5% for bigger events to 2% for smaller events: no matter how low this fee is, it is raw profit for Hybrid Betting, as we don’t have funds at risk during play.
The profits from this are also HYB tokens, increasing their demand as a consequence.
Hybrid Betting Tokens (HYB)
For the purposes of decentralization, enforcing beneficial market incentives, further developmental funding, and future endeavors of Hybrid Betting, the Hybrid token (HYB) will be created on top of the Ethereum network. This will be a standard ERC20 token, and thus will be secure, easy to store, use, and trade, as wallets and exchanges already have the needed technical infrastructure to interface with tokens that implement the ERC20 interface.
For the technical details of the ERC20 specification, see that on GitHub.
The Hybrid token will be used as currency for the Hybrid Betting platform and protocol. The fee is dynamic and fluctuates based off of the bet liquidity of every shift: for example, if few users are joining the shift, the fee are lower, compared to a higher fee when many users are joining the shift.
The profit that Hybrid smart contracts generate are directly in our token: this “buy-back” feature allows the price of HYB to appreciate as the platform becomes more widely used.
Beta Test
We are ready for the beta test of the platform, we offer a token based reward to our betatesters:
1-25 beta testers to join get 2000 HYB for free (worth 1 Ethereum)
26-50 beta testers to join get 1500 HYB for free (worth 0.75 Ethereum)
51-75 beta testers to join get 1000 HYB for free (worth 0.55 Ethereum)
76-100 beta testers to join get 500 HYB for free (worth 0.25 Ethereum)
To become a betatester just 3 simple steps:
– Twitter follow and tweets sharing/like @HybridBetting on Twitter
– Telegram channel join HybridBetting on Telegram
– Registration to Register here (just email, username and password needed)
Crowdsale
Those wishing to invest in Hybrid Betting via purchasing Hybrid tokens will have the opportunity to do so via the Hybrid crowdsale. The funds received from the crowdsale go to fund the further development of Hybrid Betting, including third-party contract security audits and further web/application development.
The crowdsale will last for 8 weeks and is set to begin on January 8th, 2018, 8:00 PM UTC. All information relevant to the crowdsale is available below.
Token Description
Hybrid tokens are used as currency for the Hybrid Betting platform
Ticker Symbol: HYB
Start Date (Pre-sale): January 8th, 2018, 8:00 PM UTC
Total duration: 4 weeks
Base Token Price: 2,000 HYB = 1 ETH
Token Pre-sale
From January 8th 2018 to January 10th 2018
Currency accepted: ETH
Min. purchase in pre-sale: 3 ETH
Max purchase in pre-sale: 200 ETH
Percentage of all tokens offered via pre-sale: 6% (3,000,000.00 HYB)
Pre-sale Bonuses
First day: 3000 HYB per 1 ETH (bonus 50%)
Second day: 2600 HYB per 1 ETH (bonus 30%)
Token Crowdsale
From January 10th 2018 to March 10th 2018
No minimum token purchase in crowdsale
Maximum token purchase: 200 ETH
Percentage of all tokens offered via crowdsale: 51% (25,500,000 HYB)
Total Possible Token Supply: 50,000,000
Crowdsale Investor Bonuses
First day: 2400 HYB per 1 ETH (bonus 20%)
First week: 2300 HYB per 1 ETH (bonus 15%)
Second week: 2200 HYB per 1 ETH (bonus 10%)
Third week: 2100 HYB per 1 ETH (bonus 5%)
Final week: 2000 HYB per 1 ETH (bonus 0%)
Founders’ Tokens Locked Post-Crowdsale?
Yes. Locked for 6 months. Investor tokens will never be locked.
The intended funding allocation from the proceeds of the crowdsale will depend largely on the amount of tokens purchased. With a low amount of funding, the project will be able to fully fund basic operations.
With larger amounts of funding, more ambitious goals can be set. These goals include funding large advertisement campaigns to promote Hybrid Betting, overcoming legal barriers to more widespread adoption.
As we cannot anticipate how many tokens will be sold or account for future unknown values, we cannot yet provide information showing exactly what proportion of funds will be allocated to which of these goals.
The maximum possible tokens supply is 50,000,000 HYB. Of those, up to 51% (25,500,000) can be purchased during the crowdsale.
People excluded from the crowdsale: USA people are excluded as per SEC rules; Singapore is excluded due to tax reasons; citizens of China are excluded due to China’s central bank regulation; citizens of South Korea are excluded for regulator’s ban.
Investor money return in case of a failure
We know the importance of money management; all we want to do is to launch our project using an ICO as we think is the best opportunity we will have ever. After the ICO will end we will disclose next steps; they will concern about advertising and community building.
The software development will be done by us as we are a group of developer in J2EE and PHP languages: we will use external advisors when needed. Every step will take the opinions of our investors into consideration.
In case of failure we will return all the investors’ money that has not been used, so the risk will be limited to the activities already done.
80-90% back guaranteed
We won’t use more than the 10-20% (based on the ICO result) of the total funds for the first phase, when we will approach that point we’ll discuss with all the investor about project’s future.
For more information about the crowdsale or to participate in it, visit
https://www.hybridbetting.comDevelopment Timeline
The code in HYB smart contracts is a relatively standard and lightweight implementation of the ERC20 standard, and the possibility for critical bugs is small.
If a significant problem occurs that is recoverable, the necessary steps will be taken to remedy the situation. For example, if there was somehow a critical flaw in the Token contract, allowing someone to steal all HYB Tokens, we could fix the problem, deploy the new token contract (with the problem fixed), and restore the balances of all users, migrating the entire platform to the newer version of the token, similar to what happened with Ethereum and the DAO.
An issue like this is very unlikely to occur unless it is caused by a problem within Ethereum itself, as the HYB Token is based on Ethereum (ERC20) tokens, so a critical problem with one could indicate the same problem with many others.
We are evaluating the need of a betting license because we are not sure about that: our platform is Ethereum based, so is based on a decentralized technology: the matter is open and we think will be discussed in the future as the technology will become mainstream; we will keep an eye on that time after time.
Timeline
Q1-Q2-Q3 2017 Market research – completed
Q4 2017 Website, Whitepaper, working demo – completed
Q1 2018 Crowdsale, development, and community building – in progress
Q2 2018 Continuation of development and other improvements, beta launch
Q3 2018 Full launch, betting license acquisition, community growth, further improvements as needed
Q4 2018+ Additional features, advertising, and community building
Similar Projects
As the size of the block-chain and Ethereum ecosystems has grown considerably over the last few years, a number of projects in betting business have emerged. Although some of these projects are similar in nature, but we offer a complete different user experience as we base our offer on a proprietary game that’s completely new; the creator of Hybrid Betting is an expert trader and investor with many years of work on markets, he mixed up all his knowledge in trading and sports betting to create a rousing game that will test the skills of all the players involved: forget odd and traditional betting, Hybrid Betting will give you a different experience, obtained mixing up different games and investment activities. Based on our research no one is offering something similar.
Disclaimer
There are many risks associated with the Hybrid Betting token, just like with Ethereum. The entire Hybrid Betting project is dependent on Ethereum; a critical issue in Ethereum could prove harmful to us too.
There is no guarantee or expectation that HYB tokens purchased will increase in value, provide a return, or will have sufficient adoption and liquidity to enable exchange for other assets.
Owning HYB tokens does not constitute a share of, equity of, or ownership of the Hybrid Betting platform.
United States citizens are not allowed to participate in the Hybrid Betting crowdsale. Do not participate in the HYB crowdsale if you are a resident of the United States.
There are many risks, both known and unknown, that are involved with cryptographic assets, including Ethereum and HYB tokens. These risks include but are not limited to critical bugs, security flaws, difficulty scaling, denial of service, and the risk of new cryptographic breakthroughs.
This document does not constitute a prospectus of any sort, and is not an Initial Public Offering or Share/Equity offering. The tokens involved with Hybrid Betting do not in any way involve any form of ordinary shares in Hybrid Betting, and no dividends are guaranteed on Hybrid Betting tokens. Fiat currency is not accepted in the Hybrid Betting crowdsale.
Ethereum is an experimental technology and all possible future risks cannot be enumerated here. Hybrid Betting is not responsible for any losses that may occur. Please exercise caution with all cryptographic assets and do not invest money that you cannot afford to lose.
More Information
For more information about Hybrid Betting, or if you have any questions, please visit the Hybrid Betting website
https://www.hybridbetting.com or send an email to
hybridbetting@gmail.com
