Crazy8Token and CasinoCoin

7 min readJun 28, 2020

Crazy8Token has been revealed since it’s creation in September of 2019. The token is aimed at the emerging markets of the gambling world, a huge industry. The grey gambling market is valued at $1.7 trillion (yes, with a big, fat, capital T). Crazy8Token won’t be introduced to all of the aspects of the grey market as a lot of betting is done in person, but this shows the scope of how large a market they are seeking to enter.

Enter blockchain technology, a newer, faster, cheaper and more secure way of playing. Many online casinos have started accepting cryptocurrencies for players to bet with because of the benefits mentioned, especially smaller casinos from emerging markets that can’t afford the high price tag that comes from tier 1 regulations. Crazy8Token will be tackling this area specifically, offering a way to connect the dots between players and online casinos in emerging markets.

Who is Crazy8Token?

Crazy8Token (CR8) is a token (currency) created to focus on emerging markets offered by Opibis. Based out of Estonia, Opibis is the parent company of Crazy8Token. It’s a payment service that develops and supplies digital currency solutions to the gaming industry. Opibis is fully licensed with operating licenses #FVR001490 & #FRK001370 (Financial services, providing services of exchanging a virtual currency against a fiat currency & providing a virtual currency wallet service). You can find out more about them here: https://opibis.com/

Crazy8Token is lead by Managing Director George McIntosh. George has vast experience in the gambling market and has over 15 years experience in the online poker industry. He was recently the Managing director of GreySnow Poker. Prior to this, he worked at PokerStars as the North America Marketing Manager as well as successfully launching the PokerStars Portugal site in this newly regulated market. He is now a CEO of eGamingFund, another token on the CasinoCoin Ledger, and Managing director of Crazy8Token.

George McIntosh, Managing Director of Crazy8Token

The Crazy8Token advisory board is also full of experience from differing markets including Asian, online casino, and poker. The board pleasantly surprised me! I don’t want to say I was expecting lesser quality, but I did imagine it being filled with people and companies I haven’t heard of because of CR8’s target market of emerging markets. The biggest name on there, for me at least, is Paul Murphy, the Managing Director from Betsson. Betsson has over 1800 employees and generates over $400 million per year in revenue.

Crazy8Token and CasinoCoin

Crazy8Token (CR8) is a token created to focus on emerging and grey markets. They created an open loop token on top of the CasinoCoin Ledger for their fast transactions and small fees. CR8 will have a supply of 500 Billion coins.

“I have been interested in the CSC Blockchain for quite some time, and also have experience with eGF (GFG token) being on the CSC Blockchain. We could see what CasinoCoin was aiming for with regulated markets and believed there was a reason to introduce the same technology into emerging markets. That’s when Crazy8Token was born.” -George McIntosh, Managing Director for Crazy8Token

Here is more on CasinoCoin: (https://casinocoin.org/doc/CasinoCoin_Presentation_en.pdf)

Why I invested: (https://medium.com/@HolyK1cks/casinocoin-and-why-i-invested-935ecfb28e54)

These emerging markets CR8 will be used in include places like Latin America, Canada, Africa, etc where regulations aren’t clear or are just beginning to take shape. This would also include crypto casinos and any casino that has less than a Tier 1 license (Tier 1 includes places like the UK, New Jersey, Isle of Man, and Gibraltar.) This makes CR8 a totally different target market than what CSC will be used that covers all aspects of online gambling.

Crazy8Token also has their own wallet very much like CasinoCoin’s BRM where the user can KYC, purchase CR8 in app with a debit or credit card, and send to a casino of choice that has CR8 listed. The biggest difference of course is the target markets. Much like the regulated markets, users in the emerging markets still have barriers that keep them from playing. CR8 will be a quick and easy solution for players to play quickly and cost effectively.

The emerging markets have difficulties with payments and offering a crypto currency that makes things simple for the user to play with, means that there can be a solution that helps everyone.
Also, the transparency in the CSC Blockchain means everything is tracked and visible to all. -George MacIntosh

It is important to note that Crazy8Token is a currency solution exactly like CSC. They are not a gambling platform or casino, but rather a currency to be used to gamble with.

“CR8 came about to make things easier for today’s gambler, opening up choice of casinos where the consumer may otherwise have difficulty. CR8 wallet means people can buy into crypto without even knowing they’re buying crypto. The process of buying CR8 is simple and then the sending to the casino will also be simple.” -George McIntosh

CR8 Wallet Explained

There will be debit and credit card purchasing as well as cryptocurrency pairs to buy CR8. This is powered by the parent company Opibis.

CR8 will have a closed loop system inside of their Crazy8 wallet. The price of purchase and selling will be pegged at $.01. Users may also purchase CR8 on exchanges (starting in October) and send them to the CR8 wallet. Users may purchase as much CR8 as they like within the wallet and sell that much back whenever they like.

All profits made from gambling must be sold on the open market as well as any CR8 that came from giveaways or exchanges. Users can only sell inside the app the amount they have purchased at a 1:1 ratio. This ensures stability in price as arbitrage will keep exchange prices close to the pegged in app price of $.01. once enough users are purchasing CR8 and there is enough liquidity, these restrictions will be taken off.

I’ve listed a few examples below to make it easier to understand.

As you can see from the illustration, you must sell profits separately on exchanges. Let’s look at a continued example below showing multiple purchases.

Impact for CasinoCoin

CR8 won’t be doing as many transactions like Cammegh or TrustTracker. Betting in CR8 does not equal a transaction on the CSCL, only transfers from wallets and casinos do (exactly like CSC transactions). So, why is CR8 one of my favorite tokens?

CR8 will have a much easier time being accepted into emerging markets and cryptocasinos than CSC will with Tier 1 Casinos. Emerging markets are more inclined to be open-minded with their business strategies and have an easier time implementing them.

CR8 is CSC’s little brother. It is the exact same tech, with almost the exact same wallet, doing the exact same things but in a different market. CR8 will be the showcase to Tier 1 casinos that this tech works. This will make adoption of CSC go so much faster. Instead of having to explain processes and ideas to potential partners, the CasinoCoin Foundation can point to CR8 and say, “Look at this product, this is how it will work. Try it yourself.” Having a concept live and in form will carry much more weight than simply talking about how it will work. The impact this will have for adoption will be huge. The icing on the cookie is also having the emerging and unregulated market as well as the regulated space. All areas are covered. Can we get a mic drop or something? Another great partnership to showcase what the CSCL and Foundation can do.