Online gambling and betting suffers from centralization and a lack of transparency. You can’t tell whether the games are rigged or not, to the benefit of the service owners. Here would come in the Blockchain, which provides a tamper-proof, honest, verifiable and auditable service. Trust would come first, at last. However, the current available solutions are still in their infancy and do not offer satisfactory performance. They’re plagued by slow speeds and long downtimes. MyOddz, an ICO project, proposes a P2P betting platform with raffle, poker, bingo, casino games and much more.
MyOddz ICO Description
MyOddz.bet platform promises zero downtime, full verification and auditability through decentralized Smart Contracts implemented on the Ethereum blockchain. Traditional casino games such as Craps, Roulette, Slots, Poker, Dice, Coin Flip and Bingo will be available on the platform. The company also aims to develop its own proprietary games with unique design. Plans to alleviate slow transaction speed include using the Raiden network and established sports results APIs.
As usual, the ERC20 tokens will be distributed in an ICO crowdsale. Named ODDZ, it will enable holders to claim a share of profits proportionate to the number of ODDZ tokens held in wallets once a quarter. 85% of total profits will be shared, 0.25% will be donated to myetherwallet.com. The rest will be spent on marketing and various company needs. ODDZ will be available on exchanges after the crowdsale ends.
Once tokens are distributed, profits will be shared on first quarter after launch. When an initial period of 3 years ends, voting tokens will be airdropped via smart contract to each individual wallet. With them, you’ll be able to vote whether MyOddz should move to a model where 99.75% of all future profit will be distributed to token holders, or whether should the 14.75% profit to the house time should be extended. Announcements about all of these events will be made on social media beforehand.
The MyOddz ICO Team
I’ll make this clear, the whole presentation of MyOddz is unprofessional. The whitepaper and the website are littered with spelling errors, unnecessary whitespaces and poor punctuation. Team presentation is no different. Nevertheless, I’m getting a honest vibe from these people. Not a group trying to dupe you into yet another pyramid scheme. Adding a husky dog to their team roster is certainly a lighthearted, funny touch. Aside from that, there’s nothing remarkable about the collective, except Marvin Beaver, who composed music for FIFA 99, Wipeout and Need For Speed. The CEO has 20 years of experience, but there is no list of the successes he claims to have. I don’t doubt there are some, but how can I know if they’re not spoken about? Website and team page could use an overhaul.
Social Presence, Summary
What strikes me the most is the rough form of this ICO. It looks like an unfinished work. There is no roadmap, but the whitepaper claims that there will be one soon. Team has a graphics designer with over 15 years of experience, yet the website looks very plain, and documents are text-only. You might say to not judge a book by its cover, but their Facebook page, or what I believe to be their fanpage, has merely 40 likes. And there is another betting related page called MyOddz with 35 likes. I think that speaks for itself. More money, time and work needs to be put into this project in order for it to be presentable. Simply, MyOddz is not ready.