MOG is the first fully operational and licensed gambling company to raise capital by an Initial Coin Offering (ICO)

Raising funds through ICO’s was the big thing in 2017, with close to $4 billion raised. New and innovating projects are made possible by this untraditional way of funding and we are excited to ask the crypto community for support for our project. The MOG ICO will go live on Friday 19. January with a goal of raising 7.5 million euro. We are not the first gambling idea to raise funds, but contrary to most other projects which are at the idea stage MOG is a fully operational business. We are also a licensed gambling business; most gambling ICO’s does not see much value in getting licensed, which in our option means they have very little chance of becoming long term businesses.

MOG is probably already the most transparent online gambling company in the world. Our games financials is available to all players. How much money we make per game is not hidden behind theoretic pay-out claims, we charge a fixed fee per game round, the remaining is paid back to the players. MOG return more money to the players than any other online gambling company in the industry, which will make us the preferred online gambling company for players around the word as they get to know us. By the end of 2018 we expect to have grown from two games into a full casino operation.

Adding blockchain to our platform will enable us to post game data to be verified by the blockchain network before a draw, and after the draw as well to document that our pay-out was according to the game rules. This creates a totally new level of trust between the gambling company and its players. Not only can this data be accessed by the players, regulators will also be able to access this data. Blockchain could be the answer to regulators concerns about unfair gaming operations, and it could enable fully automated reporting so that regulators at any given time could verify that operators follow the license requirements.

MOG believe that our business model is the business model for the future. Transparent and fair gaming is the answer to all challenges the gaming industry are facing. Today the industry operates with bonus schemes that tear down trust between players and the operators rather than to create loyalty. MOG don’t offer any bonuses, simply because it doesn’t have the wanted effect; it does not create player loyalty - fair and transparent gaming on the other hand create trust and loyalty. Our business model will enable us to become the world’s largest online gambling company in the world by 2025. Today it might sound like a bold claim, but keep in mind that very few believed Amazon would become one of the largest companies in the world when they launched their business. Everybody can see where Amazon is today. Innovations do not come from within an industry; it comes from companies which challenges how the industry operates. MOG is challenging the established gambling industry.

ICO background data:
An Initial Coin Offering, also commonly referred to as an ICO, is a fundraising mechanism in which projects sell their underlying crypto tokens, normally in exchange for cryptocurrencies such as bitcoin and ether, but some projects also accept fiat currencies.

Contrary to an IPO (Initial Public Offering) which is highly regulated and where investors receive shares in a company, an ICO is not regulated and no securities are issued to the investors. Instead of shares, investors receive tokens and/or cryptocurrency. A cryptocurrency will normally be a mean of payment within the ecosystem of the ICO business, tokens on the other hand will give some sort of right to the holder. Both cryptocurrencies and tokens will normally be listed on an exchange enabling investors to trade these digital assets.

The ICO crowd sale model was launched in 2013, in 2014 Ethereum raised $18 million and became the largest ICO ever at that time. Ethereum is the blockchain network used by most ICO’s today, their smart contracts are ideal for this type of fund raising. 2017 became the year of ICO’s with hundreds, if not thousands, of projects raising funds, and close to $4 billion was raised in 2017.

Most ICO are projects at a very early stage, most are not even setup as businesses when they raise money. This also mean that investing involve risk, very high risk. Some of the projects will never enter the stage of normal business operations. Probably as many as 90% of the projects will fail and never create any long term value for the investors. But on the other hand, pick a project which becomes one of the 10% surviving and you could hit the jackpot. The upside is unlimited, which is probably what motivates most investors.

Massive Online Gambling (MOG) B.V.
Pareraweg 45
Willemstad
Curacao

Eric Zuckermann
erik@mogbv.com
+47 98030450

This release was published on openPR.