Re: Decent.bet online Casino $ Passive Income Model $ Slots $Craps $ Sportsbook
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Well there is the perk that DBET gives back 100% of Profits quarterly to token holders that lock up their tokens in the house..that is revolutionary
95% goes to token holders and the other 5% goes to a quarterly lottery! For every 1000 DBET you hold you get a lottery ticket. To make it fair they made it so that you can only have a maximum of 5 lottery tickets. This gives even the smaller DBET holders to have a chance at the lottery.
-snip-
Well there is the perk that DBET gives back 100% of Profits quarterly to token holders that lock up their tokens in the house..that is revolutionary
95% goes to token holders and the other 5% goes to a quarterly lottery! For every 1000 DBET you hold you get a lottery ticket. To make it fair they made it so that you can only have a maximum of 5 lottery tickets. This gives even the smaller DBET holders to have a chance at the lottery. -snip-
Really interesting concept, just a few quick questions :
May you please explain in short words how to lock up the tokens in the house?
Also where will the eventual profit be sent to?
Lastly, if I got it correctly tokens locked up form the bankroll against which the bettors bet : so there is the chance that token holders may see their share becoming smaller in case of loss?
Sorry if I didn't read all the WP but please bear patience.
The token lock up will happen once per quarter (3 months) as per the whitepaper. While this could change down the road, where investors have the opportunity to lock in more frequently, that is the current plan. The first lock up period is tentatively scheduled for 01 MAY 2018. In order to participate and lock up tokens, you need to download a DBET wallet from the official website here: https://decent.bet/wallet Currently you can only send DBETs into the house from the actual DBET wallet. Ledger and/or Trezor integration may happen in the future.
Profits will be sent directly back to the ETH address associated with the DBET wallet from which you sent them. In the future, there may be an "auto-reinvest" option for ease of use. Is there a chance that the casino loses money over a 3 month period and investors lose some of their DBETs in the process? Statistically, it is possible. Though unlikely. I consider that quite a low risk, and the more people that are gambling, the lower risk that becomes.