With their upcoming ICO on February 12th 2018, the founder of MyOddz.bet, Richard Lehane was kind enough to answer a few questions about what they are attempting to build. Read what he had to say below.
What is MyOddz.bet?
MyOddz.bet is a Betting and Gambling dApp built for the Ethereum blockchain. Using smart contracts for an auditable, verifiable, honest and secure experience.
Offering one of the largest selections of Betting and Gambling options, including provably fair Dice and Coin flip games, Poker, Sports & E-sports betting, P2P betting (where users can truly become the house), Casino games (craps, slots, roulette and more) Bingo and high value Raffles.
MyOddz.bet will only use Ether for betting, no need for an additional token of any kind. Transfer your Ether to the onsite wallet and you’re pretty much ready to go.
Investors will own our ERC20 compliant ODDZ tokens which will enable them to claim a proportional share of profits each and every quarter. Our sister site, YourOddz.bet will give live, up to the minute updates on profits, bet volumes, the current value of the ODDZ token holdings and much more!
What inspired your team to create this technology?
The inspiration came from seeing just how Ethereum can disrupt the current online gambling and betting market (and other industries) as well as giving us the potential to have engaged investors actively take part in the success of the project from the outset. To be able to give investors not just a return on investment by increasing the value of our token, but also giving them the opportunity to claim a share of profits gives investors a much closer relationship with us which we believe encourages them to assist towards making our project a success. The communities being created around projects right now, the feedback, enthusiasm is quite captivating. Not only in terms of people wanting a return on their investments, but being a part of something brand new and special.
We also believe that it’s an extremely exciting time being at the birth of this new block chain world (though yes, it is a number of years old at present) and we want to be a part of it. Decentralization will become incredibly important in a very short space of time and we want to do our part to encourage mass adoption.
What does your roadmap look like for the next 6 months?
Our initial focus after our ICO will be on our Sports & P2P betting platform, Raffles and Dice game. We aim to have these on the test net at a bare minimum within that time frame, possibly live on the main net, offering a large selection of sports and e-sports as well as the ability to have invitation P2P bets and user market creation.
Casino offering development will begin with earnest and we hope to have versions on the test net toward the end of that time frame.
Do you have any competitors in the market? If so, how does your technology differ?
There are competitors in the market, notably Wagerr, Edgeless and Decent.bet at present (though not all are live right now). However, we’ll have the largest selection of betting and gambling options of them all. Our P2P technology will not only allow users the ability to offer their own odds on our dApp (and become the house themselves, limited only by the balance of Ether available in their wallets), but via javascript widgets, they’ll also be able to use our tech on their own external site(s) with optional rebranding, via licensing and/or commissions. We aim to make all of our tech available in the same way.
Users will be able to have private bets via invitation with friends and colleagues and they’ll also be able to create their own unique markets which, if popular, can be pushed out to all MyOddz.bet users and enable them to earn a share of the market profits.
We also have a world renowned audio expert in Marvin Beaver (Dylan Rhymes, FIFA99, Need for Speed, Wipeout) who’ll be responsible for bringing our casino soundtrack to the 21st century. We aim to feature other music artists, giving us a unique selling point and enabling us to engage potential customers in a new, relevant way.
What is the most important thing your team is working on right now, and how are you making it happen?
We already have smart contract work under way for our sports and P2P betting platform, as well as our Dice game. After ICO we’ll be adding to our team to speed up development. Launch site front end design is in the early stages but is underway. We already have some cutting edge audio ready which will enable us to engage with the youth market, which is set for massive growth in the coming years.
What are your teams strengths?
Strong and successful business history (40+ years accumulative) with ability to adapt to any changes in the market.
Strong developers for both front and back end, with more team members ready to come on board to further strengthen the team.
Creativity in design, audio and video.
Determination to succeed and build a strong and successful brand.
What excites your team the most about the blockchain?
The most exciting thing about the block chain for us are the new real world uses that will be implemented, some of which haven’t been thought of as yet!
If you were to invest in one cryptocurrency, besides your own, which would it be and why?
Well, aside from Ethereum, we’re very taken by Monero. In terms of ERC20 tokens from other ICO’s? well we believe that OMG (OmiseGo) is a very very interesting project and most of our team members hold tokens.
You mentioned in your white-paper charitable donations/giving back, can you expand further?
Each and every quarter we’ll be donating 0.25% of profits to MyEtherWallet. As a non profit, they do exceptional work for the Ethereum community so we want to be able to assist them so that they can continue for a very long time. Also each quarter, we’ll be making two charitable donations. One of these will always be gambling related. We have taken steps so far and have registered a number of .eth names which we will be giving to charities that we have already identified. In this way we can be certain that the funds will be going to the correct organisation and it will also allow them to accept donations from others.
The second charity to receive a donation from us each quarter shall be decided, from a selection of five, by our ODDZ Token holders. In the succeeding week after a profit claim, we shall be air dropping voting tokens to each ODDZ Token holding wallet. The five charities shall have a wallet assigned to them as well as a sub domain of our .eth name. ODDZ Token owners will then send these voting tokens to the charity/wallet they prefer. In this way, it’s easy to see which charity has been chosen and we eliminate any manipulation of votes. The charities to choose from will be announced across our social platforms at the same time as the announcement of the profit share period.
Richard Lehane
Founder – MyODDZ
http://www.myoddz.bet/
The MyODDZ ICO starts on February 12th 2018.
Article originally posted here:
https://cryptofizz.com/oddz-qa-with-founder-richard-lehane/