BetU x Satoshi Club AMA Recap from 16th of August
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from BetU and our guest was @paulrogash. The AMA took place on 16 August.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with BetU! Welcome to Satoshi Club
Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club community!
Today our guest is @paulrogash
Paul Rogash: Hi Guys. Great to be here.
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club @paulrogash
Mary | Satoshi Club: Dear Satoshiclubbers
we want to adk you to watch this video before we will start intro part
Welcome here, Paul! Happy to see you in Satoshi Club
Paul Rogash: The quiz is based off the video, so lets wait 5 minutes to begin so everyone can watch it.
Mary | Satoshi Club: Sure, it’s important
Gold Rocket | Satoshi Club: tell us about yourself … how did you get into crypto … How did you involved in BetU?
Paul Rogash: I come from a web and marketing background having founded several businesses including Lawyers SEO, Escalated Advertising and MachineSales.com .
I’ve been in crypto about 5 years.
Over the last 12 months, I worked as head of marketing for 2 crypto projects, and took them 30x & 25x.
In May we founded BetU.
Mary | Satoshi Club: 30х and 25x are fantastic results
Paul Rogash: I started BetU becuase there is an enormous opportunity in the sport and esport betting industry, and no one in the crypto space has capitalized on it yet.
Gold Rocket | Satoshi Club: Wow amazing background
Mary | Satoshi Club: How far you plan to take BetU?
Paul Rogash: I see BetU becoming a leading player in the sports betting industry competing with the likes of FanDuel, DraftKings, Bet365, William Hill etc.
Gold Rocket | Satoshi Club: Indeed…
Mary | Satoshi Club: Everything is possible
Gold Rocket | Satoshi Club: This is a great result.
Mary | Satoshi Club: Could you tell us more about BetU team?
Gold Rocket | Satoshi Club: How long does it take to develop a project? What plans do you have for the future? And what can we expect from BetU?
Paul Rogash: Yes, we currently have a 21 with a lot of experience in building large scale web projects.
Our Version 1 of the platform will be released in October. First bets will be enabled on the Machester United v Liverpool game on October 24.
Gold Rocket | Satoshi Club: Oh! I am impressed!
Mary | Satoshi Club: Iove your slogan
Paul Rogash: Our first release will enable betting on Football/Soccer, UFC and Counter Strike.
Gold Rocket | Satoshi Club: I will support Manchester
Paul Rogash: We will then open up to most major leagues.
NBA, HFL, NFL, Formal 1, Cricket, Tennis: ATP Tour Etc
Mary | Satoshi Club: Awesome
i should try my luck in betting
Gold Rocket | Satoshi Club: You have huge plans!
Paul Rogash: In 2022, we will also be releasing a complete interactive casino, both for people to enjoy and also for betting.
A Decentraland type of experience within the BetU platform.
Mary | Satoshi Club: Yes, decentralisation is one of the main things why we love crypto
Gold Rocket | Satoshi Club: Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?
Paul Rogash: Yes.
Q1 from Telegram user @Jonathantross
Can you talk about your public sale which is starting on 16 August on your platform ? From where can user register for public sale ? Can you also talk about your token distribution
and what percentage of total is allocated to the public sale ?Can you give information about your team members their experience and qualification who help Betu platform to bring power back to people ?
Mary | Satoshi Club: Partially answered about the team
Paul Rogash: People can register for the public sale at ico.betu.io
If anyone has friends involved in crypto, sports betting, or esports, please register on the platform and generate a referral code.
Gold Rocket | Satoshi Club: Don’t miss out on the cool features of Satoshi Clubbers!
Mary | Satoshi Club: Do we have to pass KYC or simply register?
Paul Rogash: You can earn 2.5% on what the referred party buy.
Mary | Satoshi Club: Which currencies we will be able to buy with?
Paul Rogash: To purchase BETU in the public sale you have to pass KYC.
Mary | Satoshi Club: Cool
Paul Rogash: To refer people, you do not have to pass KYC.
The BETU token sale accepts, BTC, ETH, USDT & BNB>
Paul Rogash: 25% of the supply is available for the public sale.
Gold Rocket | Satoshi Club: excellent quantity
Mary | Satoshi Club: Nice, everyone can choose what he wants
Paul Rogash: You get rewarded for anyone that you refer who buys BETU tokens.
Mary | Satoshi Club: So, sale will be on your platform, right? If yes, can you tell us how safe is it?
Paul Rogash: Correct. Extremely safe, our platfrom is audited by Hacken.
Mary | Satoshi Club: Fantastic
Gold Rocket | Satoshi Club: Thanks for detailed answers. it greatly increases user confidence
Paul Rogash: Tokens will be distributed at the end of the public sale and listed straight onto exchange.
Q2 from Telegram user @JesusFre1tes
Sports betting is a fast-growing industry monopolized by global bookmakers that earn billions of dollars in revenue each year. This is unfortunately the reality. But, since BetU has entered this ecosystem, how will they democratize access and break down the barriers of entry to all types of investors and bettors regardless of their level of capital? Being a decentralized platform, what aspects of the sports betting world are enhanced within BetU?
Paul Rogash: BetU will be the only platform world wide that will offer both peer to peer betting and traditional bookmaker services side by side, this will result in better odds and bigger winnings.
Also unlike traditional bookmakers, we distribute 25% of margins back to token holders in the way of token burning.
We are also the only sports and esports betting platfrom to have it’s own sole currency.
Mary | Satoshi Club: Nice model!
Gold Rocket | Satoshi Club: yes, you are quite unique in this space.
Paul Rogash: In addition, we are gamifying a lot of the betting platform, to signficantly enhance user experience over traditional platforms.
Mary | Satoshi Club: I think i heard about some betting crypto platforms
Paul Rogash: Yes for sure, but they all utilize the major currencies for deposits, or betting.
With BetU the entire ecosystem is based on BETU tokens.
Mary | Satoshi Club: How it will look? You mean you will also have your own games?
Here is a sample of the betting platform for the English Premier League.
For our own interactive Casino we are also having custom games built, based around sports, esports and crypto.
Q3 from Telegram user @KathDM
On your website it says that Referees must hold BETU tokens and are rewarded for their contribution. How many BETU tokens must the Referees hold? And as for the rewards … what will the rewards they receive depend on? Will the rewards depend on the amount of BETU tokens they hold or on each of the contributions they make?
Paul Rogash: The referees are not required for the initial version of the platform as we have partnered with BetRadar to provide all results feeds from all major sports leagues.
When we open up the platform for any type of bet on any type of event, we will introduce the referee system. Referees will be rewarded for providing correct outcomes of events.
Multiple factors, rewards will depend on BETU held, the amount of the bets and their contribution.
Q4 from Telegram User @andrey_seleznov
Will $BETU token serve as the only currency on the BetU platform? I wonder if you are going to partner with some on/ramp project to allow non crypto holders to take part in the betting on BetU by depositing fiat currency through the credit card POS gateways? Aso, speaking of crypto holders, it is safe to assume that $BETU tokens will be volatile in nature similar to other DeFi tokens. Are you considering the possibility of letting users use stablecoins for placing bets and convert stablecoins into $BETU under the hood in the smart contract if needed?
Paul Rogash ; Yes. BETU tokens power the entire ecosystem.
All Bets, winnings, bettering rewards, burning, staking, whale holder benefits and staking is with the BETU token.
This is how we can generate enormous demand for the token.
The more people bet, the more demand on the token.
The more people bet, them more BETU will be burnt
Mary | Satoshi Club: And you can connect non cryptospace and crypto with partnerships
Paul Rogash: People will be able to deposit crypto BTC, ETH, USDT etc and that will be able to be swapped to BETU within the platform.
Same with Fiat, you will be able to onboard with with Debit/Credit card and then purchase BETU tokens to start betting.
No we are not considering using any other currency to bet other than BETU tokens.
Yes the price will fluctuate and that adds to the betting experience.
Gold Rocket | Satoshi Club: I think this is fair and justified.
Paul Rogash: USDT will be able to be converted to BETU from within the dashboard, but not for betting.
Gold Rocket | Satoshi Club: thank you very much for clarifying this point
Mary | Satoshi Club: As i know work with fiat often requires KYC verification
Paul Rogash: All bettors must pass KYC.
Q5 from Telegram User @yellowchamp
Some of the features of BetU that interest me are that BETU Tokens are burnt after every winning bet & if bettors attempt to cheat and Whale holders will pay zero winning fees. So,why do you need to burn some tokens after every winning? What impacts does it bring to BetU platform? How will you determine if some bettors is cheating? Do you plan to penalise those cheater bettor in your platform or do you give warning to them to avoid for them to do it again? Speaking of whale holders,why you will not charge them winning fees if they win? Is it not unfair to some small holders in your platform? Thank you
Paul Rogash: There are two aspects: The purpose of burning the tokens is to have a constant deflationary supply.
Which benefits all BETU holders.
For peer to peer bets their is a 1% winning fee, and of that 25% is burnt.
For traditional bookmaker bets their is a built in margin to the odds and 25% of any profit is burnt.
So it is always giving back to BETU holders and reducing supply.
Whale holders will help drive the price up, so it is important to incentivize them.
Like most businesses you reward your best customers.
Mary | Satoshi Club: As i know whales like to play, there are bears and bulls
how much you bet that you will onboard bull whales?
Paul Rogash: Regardless of bear or bull, people will always bet.
Gambling is one of the oldest industries in the world and it is only growing every year
Mary | Satoshi Club: Ahaha, that’s true
Paul Rogash: Over 1.6 billion people bet each year.
25% of the population.
Mary | Satoshi Club: Wowwww!
Gold Rocket | Satoshi Club: yes it’s incredible
Q6 from Telegram User @surendra040
2.5% of Total supply was sold for a $0.015 in presale and 25% of total supply is allocated for public sale . I read on your website whale holders will pay zero winning fees . Whales are likely to have in many projects who are early adaptors. What % of supply should a whale holders need to hold and how is governance system work for whale holders? You also have a public sale bonus upto 25% . How will you prevent the whales to dump the token price and will not this affects in the sustainable growth of your project in the long run ?
Paul Rogash: Whale holders will need to hold 1million BETU.
The whale holder is just a benefit, they still need to place the correct bets.
Governance is based off voting from all holders, not just whale holders.
Whales like all projects will be able to sell. Just like Satoshi could sell any day and crash Bitcoin.
We are introducing a staking program of 7.5% of the supply in the first year to incentivize people to hold.
As we build our userbase and betting demand, I don’t see any whale holders impacting the sustainable growth. It’s all about customer acquisition.
The more customers we can acquire who bet, the greater the demand on BETU.
Mary | Satoshi Club: Everyone can stake? How much can we earn? Will profit be different for whales and ordinary holders?
Paul Rogash: This also why we are building the interactive Casino, so even people who don’t bet on sport or esport, can utilize the BETU token.
The APR will be the same for everyone.
Mary | Satoshi Club: Great!
Paul Rogash: We will have various staking programs with different exchanges in the first year, which will have various APR. Everyone will be on an equal playing field.
Ok. Before we get on to the next section.
We are going to do something different.
Mary | Satoshi Club: We will be waiting for updates from you
Paul Rogash: We have regular giveaways on our social media based on sport and esport.
Part 2 — live questions from the Telegram community
Q1 from telegram username @BJosefina61
about placing bets, is there a limit per user or per sport? How would you prevent users from placing dozens of bets as a spa, or do you think that the more bets, the better for everyone?
Paul Rogash: The more bets the better, the more bets the bigger the demand on BETU tokens.
Q2 from telegram username @KhaleesiTheCryptoLady
What is the age requirement in using the platform? Do users will have to perform KYC before playing in BetU?
Paul Rogash: All users must be over 18 years old and all bettors must pass KYC.
Q3 from telegram username @sirdefi
How can I create a bet on Betu? Could you explain the steps for this? Do I have to have a certain amount of $BETU to do it?
Q4 from telegram username @ethcypheropunk
What system does BetU use to confirm the results? If there is a controversial result or a change in results after the events are over, how does BetU resolve this situation?
Paul Rogash:BetU has feeds to BetRadar — https://www.betradar.com/
Payout of bets won’t be made until results are confirmed by the event holder. Eg: the NBA or EPL.
Q5 from telegram username @highpee
Your REFERRAL PROGRAM says users can earn 2.5% of what the other person buy. Is this referral bonus capped? If I refer 100 new members, will I get the 2.5% bonus on all of them altogether? Also, will the 2.5% reward only apply to my referral first purchase only or I can earn this reward continuously?
Paul Rogash: Yes you can earn 2.5% on what the referred person buys.
There is no cap and it is payable on all purchases.
Part 3 — Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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