Betmaster commences ICO campaign

Online sports betting platform Betmaster has launched an ICO campaign in an effort to raise additional funds.

The company intends to use the finances to support a new range of features, as well as its wider expansion plans.

Participants in the ICO, which commenced on September 6, can purchase ‘BETM’ tokens against USD, EUR, BTC, ETH, LTC and DASH payments.

As a part of the ICO, Betmaster will issue up to 200 million BETM tokens, with the price of each token fixed at $1 (€0.84), with early participants in the crowd-sale set to avail up to 30% bonus.

Those that take part can either hold on to the tokens and receive dividends from the platform; trade the tokens against fiat or other cryptocurrencies at a higher price; or they place bets on Betmaster with BETM tokens from November 2017 onwards.

Product owner Beslan Birzhev said: “We believe that the ICO is currently the best and most transparent way to raise funds within a short space of time.

“It took us less than a year to reach profitability and a monthly turnover of over $1m; each 10th visitor on our website becomes a bettor.

“We have a clear vision of how to scale our business and are ready to share the upcoming profits with our ICO investors, the funds of which will be used to force development of our platform.”