/biz/ - Business & Finance

>>6718464
Ok, no, bets can be placed using ETH. What happens is that for every bet pool, 5% is taken for a fee for the house. That 5% is paid out to all of the token holders every quarter (for now, supposed to transition to monthly in the future), proportional to the amount of HORSE you own relative to the total supply, which is why it was so crucial to get in to the ICO and why a lot of people kept it on the down low until after the ICO. So if you own 100,000 HORSE, let's say, that is 0.1% of the circulating supply of 100 mil. That means you get 0.1% of whatever the quota is for that quarter of bets, in ETH. So let's say $100 million in 1 quarter, you would earn a payout of $100,000 USD in ETH for that 1 quarter, or ~$400,000 USD per year if that 100 mil volume per quarter is sustained throughout the year.

In the future, they will add ways for users to bet on Altcoins using HORSE, and other exclusive betting options like betting on decrease or range betting using HORSE, but for right now, the dividend mechanic is the primary selling point, and the reason why 80% of the tokens were sold in the whitelist sale like hot cakes, and also why no one is opening their mouth about it.

In short, HORSE payouts in ETH relative to the proportion of HORSE you own to the circulating supply, you can look at ETHroll and DICE to see similar betting Dapps and their volume per year.

Also remember your HORSE itself will rise in value in addition to earning the dividends. I've got 100,000 but I saw people buying in the whitelist who have 10 mil. Yeah, 10 fucking mil, one guy dumped 400 ETH in the ICO. (He also has 500,000 USD worth of ChainLink if that gives you confidence)