EOSBet ICO

EOSBet Launches Dice & Slots Proof-of-Concept Games!

Our team at EOSBet, a commercial-scale decentralized smart casino, is excited to announce the launch of two fully functional proof-of-concept (PoC) games live now on the Ethereum mainnet. Our entirely smart contract-based system allows for instant betting and automatic withdrawals, blazing fast gameplay, and complete privacy. Further, we’re letting anyone contribute to our bankroll and receive dividends in ETH. After months of testing and development, we’re confident these are the best Dice and Slots games on the blockchain and we invite you to check ’em out!

The focus of this post is primarily to provide a brief overview of our two proof-of-concept games built on the Ethereum network, but stay tuned for our next post detailing what we’re building on EOS.IO and our bold vision for the future of decentralized online gambling. For more information, we highly encourage you to check out our white paper.

What is EOSBet?

EOSBet is a first-of-kind, player-centric gambling platform built on the EOS.IO blockchain architecture. It is fully decentralized, maximally scalable, provably-fair, and offers the hottest casino games with low house edges and zero fees. Our goal is to take the essence of what people love about gambling — the thrill, excitement, and ability to win money while having tons of fun — and strip out everything we hate about the industry — shady odds, greedy corporations, intrusive sign-ups, and high house edges.

Why We Built Our Proof-of-Concept Games on Ethereum

Although we’ve been testing and developing on the EOS.IO testnets, the EOS.IO blockchain isn’t expected to launch until June 2018. We built two fully-functional games on the Ethereum network as a proof-of-concept for three reasons:

1. Initially, to test the potential for building a large-scale platform on Ethereum.
2. To show our ability to quickly and effectively develop products. (While the shortcomings of the Ethereum network limited the types of games we could build, we’re confident these gambling DApps are the most optimized on the blockchain.)
3. To give our community and followers something to stay entertained with while we lay the foundation for our enterprise-grade smart casino.

What’s So Great About Our Games?

Fastest Gameplay on the Blockchain

We’re the first fully on-chain platform (meaning we use no central servers like FunFair or Edgeless) to largely solve the problem of slow gameplay — a significant pain point for players. We have developed an innovative method for structuring transactions called batch betting, which allows for hundreds of games to be played with near-zero latency. Players simply send one transaction to the network and then play as many games as their hearts desire. Since the average wait time for a transaction to be mined is ~30 seconds, if you wished to play 100 games, our platform would save you nearly an hour in wait time twiddling your thumbs compared to on-chain competitors like Etheroll or vDice.

Bet/Win Easily and Immediately

Playing our games is a breeze. Our website conveniently integrates with MetaMask, the most popular browser-based Ethereum wallet. Users place bets in two clicks using our simple front-end interface. Game winnings are automatically and instantly sent to their Ethereum account after the gaming session has finished. Gambling has never been so easy!

True Provable Fairness

Players can have maximum confidence that every element of our games is 100% fair. Each game is simply an immutable smart contract operating on the Ethereum network, the structure of which can be viewed beforehand and whose results can be verified both during and after game sessions. Our code has been audited and reviewed by multiple experienced 3rd parties and undergone an extensive bug bounty. Our random number generation methodology has undergone considerable research and testing in order to determine the most efficient and secure techniques. Check out our white paper for more details.

Bankroll Staking: Be the House and Grow Your Ether!

All bets are done in Ether, the world’s second most popular cryptocurrency behind Bitcoin. Our PoC games allow anyone to invest in our bankroll and take a cut of our game profits. Although we’ll be eliminating all house edges on EOS.IO, our PoC games feature a small house edge that functions to fund development and reward contributors. 80% of all game profit is distributed proportionally to our bankroll stakers. Contribute now to get a piece of the action!

Dice

Our Dice DApp features all the aspects of the game that players have come to love and expect, all on top of a slick and intuitive user interface, and an ultra-low house edge. All current on-chain Dice games force users to wait for a transaction to be mined before playing, and many don’t even show the outcomes of games, making users check for themselves on a blockchain explorer like Etherscan.io

Our proof-of-concept games are the first to largely solve the problem of slow gameplay. Using our batch betting technology, users can place many rolls (up to 1024) in one session, all for just one Ethereum transaction. Players simply input the following:

• The maximum number of rolls they hope to play
• The minimum number of roles they would like to be guaranteed (if they were to lose every game)
• How much to bet per roll
• The odds they would like

At 0.5%, we have the lowest house edge for any existing Dice game, and one of the lowest house edges for any online casino game. Don’t forget, once we move off Ethereum all our games will have no house edge or fees.

Slots

While Dice is the most popular cryptocurrency betting game, Slots are by far the most popular physical casino game. Slot machines account for more revenue than all other casino games combined. EOSBet is one of the first blockchain gambling platforms to offer Slots and has the most favorable jackpot odds anywhere, as well as a massive 5000x payout for the top prize. Our house edge of 4.9% is well-below below the industry average of 7–20%. Check out our pay table below.

Most slot machines have confusing pay lines and are unnecessarily complex. After beta testers reported that our 5-reel 25-line game was overly complicated and hard to understand we stripped away unnecessary features and embarked on a full UI/UX re-design. Our new space-themed slot machine is simple and elegant, having only 3-reels and a straightforward single-line game.

Play Our Games and Get Rewarded in Our Aidrop!

We’ll be airdropping 10% of all 100,000,000 EOSBET tokens to players of Dice and Slots, bankroll contributors, and EOS token holders. Here’s the breakdown:

25,000,000 to EOS Holders!

2.5% of all EOSBET tokens given proportionally to all EOS token holders

25,000,000 to Bankroll Stakers!

2.5% of tokens given to EOSBET bankroll stakers in proportion to the amount of ETH contributed. You also will receive dividends on the ETH you have contributed to the bankroll. A real win-win!

20,000,000 to Dice Players!

2% of EOSBET tokens will be given to our Dice players! If you play more games, you get more tokens! Start rolling and enjoy the lowest house edge on the blockchain!

20,000,000 to Slots Players!

2% of EOSBET tokens will be given to our Slots players! You will get more tokens the more games that you play, so start spinning and hit our 5000x MEGA jackpot!

10 x 1,000,000 JACKPOTS!

10 jackpots of 1 MILLION EOSBET TOKENS will be distributed as follows:

• 2 Dice players to be selected at random
• 2 Slots players to be selected at random
• 6 bankrollers to be selected at random

Join our community as we build the world’s premier, fully decentralized smart casino!

Cheers,

The EOSBet Team

Website | White Paper | Reddit | Telegram | Email

Thank you from me:

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2202323

ETH Address: 0x5A165374202E9648061144684846Afb8469645bf