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 is the essential purpose of any real business. Identify a need and then find a way, or a better way, to meet it. Otherwise, as you say, it's just a way to accumulate money at the expense of those whom have it.
Great review of this company. It appears that most of these outfits are of very little real value in regards to sports bettors.
Indeed, blockchain has such a practical use for sports betting that it's easy for many to start a project and cash in on the ICO without really offering anything of value for real sports bettors. I still believe there will be one or more that do succeed and become huge somehow. I want to get in on those early on :)