The GIF in GIFcoin stands for Gambling Investment Fund. This fund is backed by an already functioning betting website – VitalBet.com. Their aim is not to convince you that they are crafting something genius, like many ICOs declare. In fact, unlike the majority of other ICO campaigns, they already have a real working project.
The idea of GIFcoin Initial Coin Offering (ICO) is to raise capital, which we’ll use to upgrade VitalBet’s gambling platform, as well as popularize and promote the VitalBet Brand on the most promising betting markets (countries). After they have completed all these steps, they expect a large increase in VitalBet’s clients.
As a result, they will share 80% of VitalBet’s net profits with their GIFcoin token holders on a yearly basis. As simple as that. Buying GIF Tokens from their ICO will enable Investors to participate in an existing and moneymaking business that is at the beginning of a long-term, sustainable growth.
About VITALBET – Betting Site
They believe that life should be a fun and exciting experience, and they love sports. For this reason,their team puts substantial efforts into crafting a truly unique online betting experience. Their core product is the very pleasure of online gambling at any time and in any place in the world.
Briefly, they produce modern IT solutions to allow people to bet online on sports events and on their favorite gambling games. Their aim is to turn betting into a simple, safe, and accessible activity for every user. VitalBet is a fully-operational, online betting website.
Following significant efforts, invested in marketing research, programming, and technology research, they launched www.VitalBet.com in mid-2015, covering all major sports for online betting, as well as casino, eSports, and virtual sports.
What makes us really stand out from the grand majority of other bookies is the fact that they offer cryptocurrency payments with Bitcoin – both for betting and payments (deposits and withdrawals). ONLY a few out of the TOP 100 bookmakers provide this option at the moment. Additionally, thanks to the funding through the ICO, they will add all major cryptocurrencies as betting options and payment methods, which will make us really stand out in the online betting industry. In addition, besides digital currency payments and betting options, you will also get extras, such as:
- Sports Events Wagers
- IN-Play Bets
- Live Casino
- Virtual sports
- Livestreaming (coming soon)
The Gambling and Sports Betting Market
These high revenue shares are due to the superior bets in the market in comparison with the wagers placed via lotteries and in casinos, as well as owing to the increasing authorization and legalization of sports betting online, allowing users to place bets from any corner of the globe.
With an ever-expanding internet-using population and a growing legalization of online sports betting in numerous countries, counting the U.S.A., this market segment will experience a substantial growth in the upcoming years.
The following features typically characterize the global online sports betting market: Large market size and top phase of growth. Seasonality of most sports – high season during world sports events (FIFA World Cup, for instance) or low season during the summer.
Big initial costs for entering new markets, mainly owing to expensive licensing and costly promotion campaigns. The large market share is attributed to a limited number of sports, such as soccer, horse racing, basketball, cricket, and greyhound racing.
Illegal nature of sports betting in a number of Asian countries , including the enormous markets of China, India, Hong Kong, and South Korea; the entire market of sports betting is $1.5+ trillion, out of which legal betting (check the figure above) represents less than 20% of the total revenue.
- After the ICO has successfully ended, their Legal Department will create a new joint-stock company to guarantee your rights to shares from the new company. VitalBet will be part of this new company.
- After the success of the ICO campaign, they will be able to expand the Team with New, Highly-skilled Professionals, which will help us for the quick growth and development of the project.
- We’ll immediately start working on the New Design of the website, which will help us to better entertain the current and new customers with the best user-friendly experience.
- After they finish and release the new design, they will create the smartest and most innovative Mobile App in the betting industry, which will help us to engage with many new users.
- Entire new update of the Affiliate Program – with the most attractive promotions and commissions in the betting industry.
- They will add all popular Cryptocurrencies as Betting Options and Payment Methods (deposits and withdrawals), which will make us stand out from the competition in the gambling niche.
Initial Coin Offering (ICO) – GIFCOIN
To grow quickly and outpace the competition, VitalBet needs initial capital for new design and functionality, launching of a mobile app, country market expansion, as well as marketing and advertising campaigns. Collecting capital through the two traditional financing methods – debt and equity – seem to be expensive, time-consuming, or extremely risky. By using an Initial Coin Offering (ICO) as an alternative instrument for financing, they intend to gather funds in a faster and in a much less risky way. The raised funds will serve exclusively for the realization of their plans (see the Roadmap section above). To reward their ICO Investors, they are going to share 80% of VitalBet’s annual net profits with them once a year.
ICO – Fundamentals
ICO – Details
Purchase of GIF Tokens:
- GIF Tokens will be available for purchase by the public in the beginning of 2018.
- Their Company reserves the right to alter the period of the ICO in its total discretion, with publishing the relevant changes on their website – https://gifcoin.io.
- Buying GIF Tokens will be possible ONLY through the website of the ICO.
- Investors may purchase any volume of GIF Tokens within the offered volume of issued GIF Tokens, depending on the current availability. The minimum payment is 0.01 ETH. No maximum limit.
- Investors may buy GIF Tokens ONLY with Ethereum (ETH) cryptocurrency. No fiat currencies are allowed.
ICO – GIF Token Distribution
The number of GIF Tokens issued will be 300,000,000.
- GIF Tokens will be issued by the GIF Token contract on the Ethereum Blockchain; the contract will utilize the ERC20 interface, a standard that has been recognized for tokens. It will enable the easy integration of the GIF cryptocurrency with different exchanges and wallets.
- Each Investor will be allowed the following number of GIF Tokens: bought GIF Tokens and a 15% bonus GIF Tokens during the Pre-Sale.
- The GIF Tokens will be immediately distributed to your ETH wallet after the purchase.
- GIF Tokens owned by the Company will be locked, during the period(s) of such ownership, to prevent the Company from receiving any bonuses.
VITALBET – Expected Future Profits by 2020
Out of these $756,000,000 revenue, they will have:
- 10% management costs
- 10% profits paid to gamblers
- 15% paid to their partners from the affiliate program
- 20% advertising and marketing costs
- 45% net profits
The net profits of 45% amount to $340,200,000. Out of these $340,200,000, they will share 80%, which is $272,160,000.
These $272,160,000 will be distributed annually between the 300,000,000 tokens as a profit share. In this way, every owner of 1 GIFCOIN token will receive an annual profit share, amounting to $0.9072.
Let’s say Joshua has 10,000 GIFCOIN tokens. He will have an annual profit share of $9,072 which will be paid in ETH in his Ethereum wallet once a year.
Read more: whitepaper