Interview with CashBet CEO, Dr. Mike Reaves, on the Upcoming ICO for CBC

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Date: 23.02.2018

Dr. Mike Reaves is the CEO of CashBet, a mobile-first real-money gaming platform disrupting the gaming industry with its cryptocurrency CBC coin. Blockchain technology has many prospects for the gaming industry and CBC coin is right on Time. In this interview, Dr. Mike will be talking about the CBC coin ICO and the opportunities it has to offer;

Hi Dr. Mike, please tell us how you got started in Blockchain and Cryptocurrency?

Dr. Mike :We launched five years ago in the iGaming industry to support operators and content providers with a mobile-first real-money gaming platform. Since then, blockchain and cryptocurrencies have grown, particularly as a use case for the iGaming market. Even as we’ve grown and supported tens of millions of wagers on our platform, there are still hundreds of millions of players globally who could be playing on our software, but they’re under served by the banking industry. Although our engineering team have been dabbling in crypto for years, and we are regulated by tier 1 gambling commissions such as the UKGC and the AGCC, these bodies do not permit iGaming operators to take cryptocurrencies. They deem it equivalent to cash and there is no anti-money laundering (AML) framework in place.  That changed last year when the Isle of Man Gambling Supervision Commission (IOM GSC) put an AML framework in place, legalizing the deposit and wagering of cryptocurrencies. At that time, we decided to adopt cryptocurrency into our platform and expand into emerging markets.

What is “CashBet”?

Dr. Mike :CashBet is the only complete, crypto-ready, mobile-first iGaming platform with an established, profitable presence in regulated gaming markets. Launched in 2012, CashBet has seen phenomenal player growth, tens of millions of dollars of wagered, gaming licenses in multiple jurisdictions, and customers from all facets of iGaming (real-money, social, and skill-based) from around the world.

When is the pre-sale and Public sale for your ICO and what is your hard cap?.

Dr. Mike :  Our pre-sale period starts on January 24 and ends on February 20. The public sale is expected to begin March 20 and will continue until April 27. The ICO will end early if the hard cap is reached prior to the end of the public sale. The hard cap is the 430 million tokens being allocated to the token sale. Once those tokens are sold out, no more will be offered.

Why should we invest in your token and how can token holders profit from it?

Dr. Mike :CashBet Coins (CBC) will democratize access to world-class entertainment for those underserved by the centralized banking establishment. CBC will be the currency of choice on CashBet-powered casinos, which are used by operators to pay licensing and content fees, and wagered by players on great games.  Operators and partners using the CashBet platform (including our CryptoRGSTM gamedistribution platform) are required to accept CBC for deposit, wager, and for payment of royalties.  Token holders are incentivized by our generous VIP program to hold tokens in their ERC20 wallets using time-locked smart contracts.  The casino burns 25% of its profits on a quarterly basis.  All of these contribute to demand and scarcity, which will help promote stable, long term value for CBC tokens.

Note that CashBet Coins are not designed to offer earnings. CashBet Coins provide concrete value and advantages to CashBet casino partners, players, and owners. These benefits, plus CashBet’s currency management policies and CashBet’s distinct advantage as the only licensed profitable cryptocurrency powered casino, will back its valuation on public exchanges.

Big companies like Walmart and Microsoft are moving to blockchain, do you think this industry has come to stay?

Dr. Mike :Blockchain and the immutable ledger is here to stay. While adoption started with enthusiasts, now Fortune 500 companies like Walmart placing their inventory system onto the blockchain, and Microsoft launching advanced initiatives in blockchain. We’re starting to see legitimacy for this important new technology in our ecosystem, and this will only increase over time.

What is the competition like for crypto-ready iGaming platforms in the market?

Dr. Mike :Most companies entering this space are new, less than a year or two old without traction or products in the market already. This is where we differentiate from 99% of the other ICOs because we’ve been in the market for five years with a live platform and customers, and we are profitable and have gained real traction in the market. Additionally, we have a real and valid use case for cryptocurrency, which is to grow the iGaming industry globally and in markets where the banking system doesn’t serve potential paying players.

Where do you see CashBet Coin in the next 5 years, will it increase in liquidity and volume?

Dr. Mike :Over the next 5 years, CBC will become ubiquitous as we require it to be offered to players for deposit and wagering by our cryptocasino partners. We’re already receiving inquiries about how other companies can use CBC in their operation.  The volatility in the current alt-coin market is driven by speculation.  Our token’s value will be driven by its use.

Would you like to tell us about your team, your customer service and security

Dr. Mike :Our leadership team includes veterans of the regulated, online gambling industry with many years of successful operation. We bring tremendous experience successfully building and selling online gaming platforms in the iGaming industry as well. We’re uniquely qualified and positioned to deliver a best-in-class platform as well as a high quality player experience. Additionally, we designed our platform to meet industry regulations and compliance requirements, and we hold our solutions to the highest standards.

What would be your advice to Blockchain and Cryptocurrency investors in 2018?

Dr. Mike :It’s critical to do your homework before investing in crypto coins. There are a lot of companies issuing tokens who don’t have a legitimate use case for their coins, and don’t have the expertise and years of experience to run a crypto economy. Look at the credentials of the team, their licensing, business model and products, and their customers. It’s important to factor in the achievements and traction of the business before considering investing.

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