Sports Betting Blockchain ICO | Gifcoin

gifcoin.jpg

It is hard to see gifcoin.io as a Sports Betting Blockchain Project as they are basically just making a coin to get money in return of some of the profits from their high juice bookmaker Vitalbet.


Their whitepaper talks about 'their story' which pretty much comes down to "we are only interested in making money at the cost of others". They started out in the affiliate market trying to make money and noticed their gambling affiliates made them the most which made them come up with the plan to start their own bookmaker since 'bookmaker make a shit load of money'. So they started VitalBet.com, one of the many bookmakers who charge very high juice aimed at smaller player who are almost guaranteed to lose over time. Now they are jumping on the ICO money train and doing one themselves without any real new decentralised technology behind it all. They just promise to pay out part of the profit from their bookmaker funded by the money that was donated.

A comparison of the Vitalbet odds compared the books professional Bettors use at the time of writing this article.


BookmakerMatch1x2
VitalbetCrystal Palace vs Tottenham6.6824.511.450
NitrogensportsCrystal Palace vs Tottenham7.4814.881.455
Sportmarket ProCrystal Palace vs Tottenham8.0344.881.472
VitalbetMan United vs Chelsea2.4003.193.040
NitrogensportsMan United vs Chelsea2.3663.273.381
Sportmarket ProMan United vs Chelsea2.4263.273.400

While I would not fully call it a scam, gifcoin has all the red flags of something you don't want to put money into.


The Name Of the Project

The project is called gifcoin which stands for "Gambling Investment Fund". every time a name of a project itself allready implies some kind of value it's usually a desperate attempt to try to sell you something. Actions always speak louder than words, when it is the other way around that's a big red flag for me.

Focus Only on Money

A good investment usually comes from a team who are mainly focussed on solving a problem first, knowing they will do good financially if they manage to pull it off. This team has it in reverse as the focus is only on the money side without bringing anything inovative. Their entire model allready crumbles down compared to the more fair bookmakers and will cruble down even more once there are real blockchain projects that aim to imporve on current market leaders.


Gifcoin doen not interest me the slightest bit and I will keep looking out for Sports Betting Projects that focus on offering the sharpest possible odds and beat current market leading professional betting brokers.


List of Available Blockchain Sports Betting Projects

(The ones I look to try out myself are on top)

ProjectTypeWebsite
WagerrSports Bettingwagerr.com
BookieSports Betting Exchangebookie.exchange
(^Peerplays)(^Bookie Platform)Peerplays
BlitzpredictBetting Brokerblitzpredict.io
AugurPrediction Marketsaugur.net
GnosisPrediction Marketsgnosis.pm
StoxPrediction Marketsstox.com
decent.betSports Betting - Casinodecent.bet
FansuniteSports Bettingfansunite.io
BetriumSports Bettingbetrium.co
Xwin CryptobetSports Betting & Casinoxwin.io
BetterbettingSports Betting ExchangeBetterbetting.org
GifcoinICO Book Profit Sharegifcoin.io
Heroesports Bettingherocoin.io
Gimliesports Bettinggimli.io
Unicoingoldesports Bettingunikoingold.com
Goal Bonanza ***Correct Score Lotterygoalbonanza.com
Betmaster ***Sports Bettingbetmaster.io
*** Scam Alert

Previous Reviews











I will keep reporting on new Sports Betting focussed Blockchain Projects that come along in search for a potential 'Betfair and Asian Bookmaker killer'. Some of the projects like Bookie.exchange and fansunite will get their own review post in the near future.
Feel free to let me know if there are project I missed out on!


H2
H3
H4
3 columns
2 columns
1 column
7 Comments