Home Insanity Bets Launches $1M Presale Giveaway – How to Join the Hottest Crypto Contest of 2024

Insanity Bets Launches $1M Presale Giveaway – How to Join the Hottest Crypto Contest of 2024

Insanity Bets ($IBET) seizes the attention of the market again.

This time, with its massive $1M presale giveaway!

By joining the $IBET presale, early investors stand a chance to win the $1M Insanity Jackpot. One lucky investor will claim the full $1M at the end of the presale.

Giveaway is Not the Only Reason to Buy $1M

The $1M giveaway is only one of the perks of buying $IBET tokens. But the real prize lies in its large investment potential.

Insanity Bets is the best GambleFi project to enter the market this year. There are several reasons why. With GambleFi set to grow and expand over the next few years, investors have found an underrated gem in the ongoing presale of $IBET tokens, the native cryptocurrency of the Insanity Bets gambling dashboard.

The token is integral to the extensive staking mechanism of the platform. For users not keen on gambling, but who understand the trend and its investment value, staking makes good sense. It helps them grow their wealth over the period they plan to hold the tokens through staking.

Both the staking mechanism and the high-quality gaming dashboard raise the question – can Insanity Bets pump upon its listing? Here is an analysis.

The Real Potential of GambleFi Has Yet to Unfold

The gambling industry is projected to substantially grow over the next few years due to the rise in interest in the online side of the market. Online gambling has made the sector more accessible and affordable.

But what about safety?

The gambling industry has long-faced credibility issues. The online gambling sector has also been facing the same challenge. They are known for manipulation, fraud, and scams. But GambleFi changes this.

GambleFi is crypto-based online gambling. Due to the blockchain foundation of the GambleFi sector, there is less scope for manipulation. These smart contracts are for anyone to see and verify, reducing the chances of fraud. They are transparent.

Insanity Bets For All

That’s not all. Another benefit is decentralization. In other words, platforms like Insanity Bets allow users to own the house. By investing in the native token $IBET, token holders are essentially entering the gambling sector and tapping into its vast growth potential.

Since the house always stays profitable, the interest in GambleFi is growing.

An exemplary success story is Rollbit (nearly 5000% surge in 2023). But that’s only the beginning. New projects like Insanity Bets can take the industry higher.

The extensive gambling dashboard will feature casinos, sportsbooks, prediction markets, and lotteries over time, providing a comprehensive gaming experience. Moreover, with a lower initial market cap, it has the potential to deliver bigger returns to early investors.

Games like Coin Flip, Dice, Rock Paper Scissors, Roulette, Keno, Hi Lo, Crash, Blackjack (towards the end), Poker (towards the end), and Slots 5×5 expand the user base of Insanity Bets over time.

90% of Winnings and 85% of Fee Revenue Go Back to the Community

The foundation of Insanity Bets is its gambling dashboard. That’s where the fundamental utility of the token lies.

Insanity Bets Staking Perks

To further help drive the demand and value of the token, the platform has introduced a staking system. It works to encourage token holdings and mitigate sell-offs through various reward schemes and token derivatives:

  • $sIBET (staked iBet): This derivative receives 35% of all platform fees and can be exchanged for $IBET tokens.
  • $bIBET (burnt iBet): Created by permanently removing $IBET tokens from circulation, $bIBET holders receive 50% of the fees.
  • $esIBET (escrowed iBet): This staking derivative automatically rewards $sIBET holders, enabling users to compound their staking rewards.
  • Additionally, the platform features $ILP, which represents an index of $USDT, $ETH, $WBTC, and $IBET pools. Investors stake these assets to mint $ILP tokens, which are essential for scalability, fueling the house fund and enabling larger bets.

Minting $ILP is rewarded with 90% of the house’s profits (and losses) from games.

Insanity Bets maintains a provably fair house edge of 1% to 5%, reducing the likelihood of long-term losses. Contrary to other liquidity pool assets, $ILP is a single-sided asset. Thus it doesn’t expose holders to impermanent loss.  A cap on bet sizes further ensures platform stability.

The distribution of $ILP rewards in stablecoins like $USDT makes it an opportunity to not miss.

Stage 2 Sold Out – Presale Live With Entry to $1M Giveaway

Insanity Bets has officially launched a $1M giveaway that accompanies the hot $IBET presale.

Insanity Bets Presale Tokenomics

The presale is designed with multiple stages, offering significant discounts to early participants. The current low entry point makes it a highly appealing investment opportunity. An 80-week vesting schedule is implemented for team allocations, further establishing the credibility of the presale as well as the project.


About ReadWrite’s Editorial Process

The ReadWrite Editorial policy involves closely monitoring the tech industry for major developments, new product launches, AI breakthroughs, video game releases and other newsworthy events. Editors assign relevant stories to staff writers or freelance contributors with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

James Spillane
Crypto Writer

James Spillane is a crypto trader and writer, producing analytical articles for ReadWrite on the latest market trends and price action of trending assets. Hailing from the UK, James is a BSc Physics graduate from Imperial College London and former Cadet Force Adult Volunteer with Bedfordshire & Hertfordshire Army Cadet Force. When not writing and editing, James enjoys working out and travelling, currently working remotely in South East Asia. James' latest coverage focuses on the growing meme coin market, tracking assets like Dogecoin and Shiba Inu and newer contenders to their market share.

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