## What Is CBET Token (CBET)?

[CBET Token](https://coinmarketcap.com/currencies/cbet-token/) (CBET) is a community-run [token](https://coinmarketcap.com/alexandria/glossary/token) that can be used on the online betting platform Cbet.gg. As well as offering a variety of virtual casino services, the bookmaker offers players the opportunity to place bets on sports and video game competitions. 

Cbet.gg strives to ensure the transparency of all rules on the platform, a diversity of available gambling activities and to provide security for transactions. The token’s creators’ long-term goal is for CBET Token to become the primary currency in the field of online gambling.

Cbet.gg aims to make iGaming accessible for players around the world and supports payment in multiple traditional currencies, in addition to accepting CBET and [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) (BTC).

The platform was created in July 2019 and CBET token launched in July 2021. 


## Who Are the Founders of Cbet.gg?

Although official sources have not yet released any information regarding the identities of the founders of Cbet.gg, it is reported that the betting platform was founded by AK GLOBAL N.V., an online casino operator registered in 2017, which holds an international gambling licence from the Curacao​​ jurisdiction. The creators behind Cbet.gg reportedly possess experience in iGaming, software development, [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain) and marketing.


## What Makes Cbet.gg Unique?

In order to incentivize the community to use the token on the platform, Cbet.gg offers bonuses for [CBET Token](https://coinmarketcap.com/currencies/cbet-token/) (CBET) wallet users. The bookmaker claims to offer 25% additional funds for every CBET balance replenishment. 

CBET holders also have the opportunity to take flash loans. Instead of selling their token holdings, Cbet.gg advises users to borrow up to 50% of the collateral held in the account.

The token is currently functioning on Cbet.gg as a proof-of-concept. The creators hope that the currency has a chance of becoming a standard form of payment in the online gambling industry. CBET is available for any betting website to integrate into their ecosystem.


## Related Pages:

Find out about [FUNToken](https://coinmarketcap.com/currencies/funtoken/) (FUN) — a token developed to facilitate transactions in online gambling industry

Check out [Lotto](https://coinmarketcap.com/currencies/lotto/) (LOTTO) — a token that automatically enters all holders into a lottery once per day

Look into [EarnBet](https://coinmarketcap.com/currencies/earnbet/) (BET) — the native currency of the [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain)-based betting platform EarnBet


## How Many CBET Coins Are There in Circulation?

The total amount of the tokens minted is 1 quadrillion CBET. To regulate the supply of [CBET Token](https://coinmarketcap.com/currencies/cbet-token/) (CBET), 50% of all profits generated by the deposits is [burned](https://coinmarketcap.com/alexandria/glossary/burned) every month. Cbet.gg features a [liquidity pool](https://coinmarketcap.com/alexandria/glossary/liquidity-pool) that is locked for 4 years. 

The token was launched through a fair launch auction, allowing for transparency and equity in initial token distribution.The official website reports that the company does not have a development fund nor team wallets.

To ensure [liquidity](https://coinmarketcap.com/alexandria/glossary/liquidity), 5% of all on-chain transactions go for 50% as [BNB](https://coinmarketcap.com/currencies/bnb/) on exchange, 50% as CBET on exchange.

How Is the Cbet.gg Network Secured?

The token is created on [Binance Smart Chain](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain) (BSC), an [Ethereum Virtual Machine](https://coinmarketcap.com/alexandria/glossary/ethereum-virtual-machine-evm) (EVM)-compatible blockchain that has [smart contract](https://coinmarketcap.com/alexandria/glossary/smart-contract) functionality and runs parallel to the [Binance](https://coinmarketcap.com/exchanges/binance/) blockchain (BC). BSC uses a proof-of-stake-authority (PoSA) consensus model, a hybrid between [proof-of-stake](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos#:~:text=Proof%2Dof%2DStake%20involves%20miners,mine%2010%25%20of%20the%20blocks.) (PoS) and [proof-of-authority](https://coinmarketcap.com/alexandria/glossary/proof-of-authority-poa) (PoA).


## When Will CBET Trading Begin?

CBET trading began in July 2021 on [PancakeSwap](https://coinmarketcap.com/exchanges/pancakeswap-v2/) (V2).


## Can CBET Hit $0.01?

As a deflationary token, [CBET Token](https://coinmarketcap.com/currencies/cbet-token/) (CBET) gradually decreases in market supply. Even though burning has the potential to increase the currency’s value, a significant growth in price is not likely without a genuine involvement of the community. 

Cbet.gg’s roadmap is available on the token’s official web page and anticipates an introduction of new games on Cbet.gg and the launch of the platform’s own [decentralized exchange](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex) (DEX). 

Although the price of CBET has seen stable growth since its launch, reaching at its highest $0.00000037, the token is currently unlikely to get to $0.01, even considering the amount of tokens being burned every month.


## Where Can You Buy CBET?

CBET is currently available for purchase on [PancakeSwap](https://coinmarketcap.com/exchanges/pancakeswap-v2/) (V2).

 

New to cryptocurrency? You can read more about how to enter the market and how to buy [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) (BTC), [CBET Token](https://coinmarketcap.com/currencies/cbet-token/) (CBET) or any other coin via CoinMarketCap’s education portal — [Alexandria](https://coinmarketcap.com/alexandria/).


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