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Edgeless

A transparent casino where house edge is zero? The team at Edgeless is making this gambler's dream a reality with smart contracts.
Daily active users
- 30 %

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109
Last 7d:
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Volume
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Volume
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About

What is it?

Edgeless is a smart-contract-based casino designed to solve two of gamblers' biggest problems: high house edge, and lack of transparency (it can't solve gambling addiction though; it's a distributed ledger, not a wizard).

What does Edgeless propose? House edge will be 0% (hey, that's why they're called Edge-less!), and a random number generator on a public smart contract will eliminate the need for trust.

How does it work?

As of July 2018, Edgeless offers three games: blackjack, dice and baccarat. Coming soon are crash, sports betting (the only one with a fee), poker, staking and slots. You get 100 demo chips to try the games out. Once you're hopelessly hooked on the sweet dopamine rush of gambling, you can sign up to play your crypto away. Because of license requirements, you'll need to be verified in order to gamble (passport, utility bill; the usual). You'll play with the native ERC-20 token, EDG. You can buy EDG on an exchange using ETH, or directly on the platform using other cryptocurrencies, through the Shapeshift integration. There's also a Metamask betting integration in the works!

If you're a pro gambler, you'll know casinos make money thanks to the house edge. This isn't a fee, but a mathematical advantage that a game's design gives the house. For example, the edge for blackjack in a regular casino is roughly 0.5% (unless you're counting cards). Edgeless incorporates certain game rules that significantly reduce the house odds, even for amateur players (i.e. they're helping you out). So, how can Edgeless make a profit if their games are edge-less? Here's the harsh truth: Edgeless is counting on the fact that you, the player, are gonna suck at these games. Even if they offer you a head start with a theoretical 0% edge, your own bad choices as a gambler will bring your odds down, and the house odds up. Ka-ching!

But what about transparency? Could they possibly know the outcome of the cards beforehand? Not really. Their random number generator uses two seeds to produce numbers: a house randomness generation seed, and a custom randomness generation seed provided by the player. Players will know the house's hashed (SHA512) seed before betting and before generating their own seeds. After the bet is made, players will be able to see the unhashed house seed on the blockchain and verify the randomness. Idk, seems legit to me.

TL;DR: Why should I play this?

  • This is the first widely successful Ethereum-based casino.
  • Offers 0% edge for skill and luck based games – you have great odds.
  • A transparent, smart-contract-based random number generator ensures that all games are completely transparent and fair.
  • They carry the appropriate license, and offer instant and cost-effective cryptocurrency transfers.

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