Introducing Edgeless Casino
https://edgeless.io
Ever since its 15 years of existence, the Online Gambling Industry witnessed high growth rate despite some difficult situations as well as uncertain regulations. This growth rate can stay the same or more in the coming years. The use of Crypto currencies such as Bitcoin has taken the online gambling experience to a whole new level. Crypto currencies solved the issues regarding instant transactions and anonymity.
The next game changing innovation would be the introduction of “Smart Contracts” to solve major issues relating to transparency of an online casino. You might have heard about “Decentralized Exchanges”, have you heard about a “Decentralized Casino”? Imagine a casino where the house cannot rig the game without getting caught. Imagine a casino where everyone is allowed to see the details such as transactions, sums, bets and randomness. This is what “Edgeless Casino” aims to do. And to top it all, house edge will be 0%. A bold move indeed!
The most interesting part is, even after providing 0% edge, Edgeless can become profitable. The team behind edgeless casino explains that the mistakes made by players and due to the imperfect play in games such as Blackjack and Video Poker will provide the casino with a 0.83% house edge naturally (as per research). This coupled with low cost of operating the casino on top of the Ethereum blockchain will give Edgeless an opportunity to stay profitable.
Edgeless Casino will offer 0% edge games to attract players and then set up traditional games. The team has mentioned that they will adopt Kelly Criterion and monitor traffic to prevent players with large bankrolls from wiping out the casino. The minimum bet amount may be 0.1 ETH and maximum bet may be 2 ETH.
Before accepting any bets the Smart Contract will ensure that the Casino has enough funds to process the payout for the winning bet, else the bet amount will be returned to the player. Players will have to pay the Ethereum gas price for sending amount of bets for now. In future, the casino is planning to pay the gas price.
The team of Edgeless Casino consists of competent people. There are well experienced, three developers presently working on Edgeless Casino. They are successful in running etherslots.win . The team will consider hiring 2 additional developers after the end of a successful ICO mainly for focusing on official game launches and also for creating and testing out new games.
The ICO is all set to begin on 28 February 2017 and will run for about 3 weeks, it will finish on 21 March or after collecting the maximum funds whichever is earlier. Edgeless will issue 500,000,000 Edgeless tokens (EDG). Edgeless tokens will be an Ethereum-based token. Holders of EDG token are entitled to win prizes in the lottery at the end every month. 40% of the profit from the Casino will be sent to a “Profit Lounge” from which token holders can claim a part of the profit. More the number of EDG token you hold, more profit you are entitled to receive. The rest of the profit will used for development and maintenance of the casino. Read the whitepaper for more information.
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The funds raised from the ICO will be used mainly for the Development, Legal and Marketing of Edgeless Casino. Legality and Marketing of Online casinos have always been tricky. But the team has thought about it. You can hear more about the project from the team members itself from the below given links to the interviews:
Coin Interview:
Token Market podcast:
For more information, visit:
● https://edgeless.io
● https://twitter.com/edgelessproject
● https://edgelesscasino.slack.com
● https://reddit.com/r/edgeless
● https://bitcointalk.org/index.php?topic=1718384.220
● https://en.wikipedia.org/wiki/Kelly_criterion
I think peerplay is a much more advanced project and safer investment right now. https://steemit.com/investing/@xwerk/peerplay-blockchain-primary-crowdfund-has-started-today-great-chance-for-investors-and-gamblers-alike
The 0% rake concept can work, but margins are so slim I don't believe investors have good chance to regain their investment in a realistic amount of time. Can you elaborate presenting some numbers?
Peerplay definitely looks interesting . But I think it better to diversify into other projects too. Edgeless will be looking to get about 5% of all money wagered be placed as a sports bet with 4% ROI. Sports betting will be a major stream of revenue. There will be additional games too. 0% edge games will be to attract players.
Very good article. Interesting to see I'm not the only one that is thinking about this. Icos have zero obligations to their token holders, they can just run away at any time they want. That's why we have to do very proper research before we invest in them. I really advice people to take a look at: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. See: https://www.coincheckup.com/coins/Edgeless#analysis To check Edgeless Report.