A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, EOSBet, a first-of-kind, player-centric gambling platform built on the EOS.IO blockchain architecture has arrived.
"Blockchain technology has been slowly creeping into our lives, and today its presence can be felt like never before, with Google search trends showing new records and the collective cryptocurrency market cap being at its highest.
However, there are certain industries with which Blockchain technology and cryptocurrencies have been able to connect with on a deeper level, and gambling is one such industry.
Using cryptocurrencies for gambling has become a widely popular solution for casinos, either as a main payment system or as an alternative to fiat-based ones. The advantages are many and well documented. Using cryptocurrencies allows the user to gamble anonymously, without the need to hand over copies of documents or even create an account, depending on the platform.
Smaller fees and almost-instant deposit times, have also made cryptocurrencies ideal for gambling, especially when it comes to small to medium movements.
Cryptocurrencies have also been able to make online gambling accessible again, providing a low entry barrier for new players and allowing them to circumvent gambling regulations that apply to fiat only."
With that being said, EOSBET will utilize the power of smart contracts to perfect and ensure the re-alignment of games globally through easy and reliable independent transactions. This is very important for a common game chain platform that will use coins as a form of appreciation in most game activities and betting to develop the economy among users.
Now that I have your attention, let’s get right to it.
What exactly is EOSBET?
EOSBet is a gambling game application where players place EOS on unique dice or baccarat games. DApp also claims to be the first community-managed online casino, which allows owners of BET tokens to receive instant prizes on EOS from 100% profit on platform games. Payments are calculated and distributed proportionally based on the number of BET tokens each holder has. On October 16, EOSBet paid the owner of a token of more than $ 1 million in just 2 months operating the platform.
On some brief history, EOSBet.io is owned and operated by Aurora Tech N.V., a company registered and established under the laws of Curaçao, registration number 148186, and registered address at Ambraham de Veerstraat 7 Willemstad, Curaçao. No U.S. or Chinese players. All players must follow the laws in their jurisdiction. Must be 18 years or older to play. BET tokens have no rights, uses, or attributes.
In addition, 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.
The 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.
How It Works
As indicated on the official website, every bet you place with us is secured through our novel randomness generation technique. You may submit your own seed, or leave it blank. Your bet will receive a unique ID in a smart contract, which will be signed by our server with a predetermined private key.
This signature will then be passed back to the smart contract before being verified that the correct secret signing key was used. The contract will then derive a deterministic random number from the signature, which will be used to resolve your bet.
The EOSBet team has received a game license from one of the oldest game regulators in the world, Curaçao eGaming. This accreditation gives EOSBet the right to use all forms of interactive online gambling and add another level of legitimacy to the project.
EOSBET will utilize the power of smart contracts to perfect and ensure the re-alignment of games globally through easy and reliable independent transactions. This is very important for a common game chain platform that will use coins as a form of appreciation in most game activities and betting to develop the economy among users.
WHY EOSBET GAMES STAND OUT?
Fastest Gameplay on the Blockchain
EOSBet is the first fully on-chain platform (meaning EOSBet uses no central servers like FunFair or Edgeless) to largely solve the problem of slow gameplay — a significant pain point for players. They 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 the games is a breeze. The 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 the 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. The code has been audited and reviewed by multiple experienced 3rd parties and undergone an extensive bug bounty. The random number generation methodology has undergone considerable research and testing in order to determine the most efficient and secure techniques. Check out the 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. The PoC games allow anyone to invest in the bankroll and take a cut of the game profits. Although EOSBet will be eliminating all house edges on EOS.IO, the PoC games feature a small house edge that functions to fund development and reward contributors. 80% of all game profit is distributed proportionally to the bankroll stakers. Contribute now to get a piece of the action!
The 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
The proof-of-concept games are the first to largely solve the problem of slow gameplay. Using the 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%, EOSBet 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 they move off Ethereum all the games will have no house edge or fees.
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. The 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. The new space-themed slot machine is simple and elegant, having only 3-reels and a straightforward single-line game.
About The EOSBet Ambassador Program
EOSBet is very happy to share their ambassador program and hope that you can become their ambassador and help them promote the EOSBet game platform faster and better and become a part of the team!
Ambassador's scope of work
The game test phase, the first time to participate in the game test and make feedback suggestions
Daily community operations (telegraph, Discord, Reddit, Facebook, etc.)
Translation of articles and other documents
EOSBet regional spokesperson
Discover new players
Guide and help new players on social media and community channels
Copywriting, YouTube, streaming, content creation
Get BET and EOS rewards based on performance or output
Official recognition and support of the EOSBet team
Opportunity to attend meetings and offline events
Early bird job opportunity
Early bird game experience opportunity
Play EOSBet Games and Get Rewarded in Airdrop!
EOSBet will 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
For more information, please visit:
Bounty Group: https://t.me/bingobounties
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106
My EOSBet Public Key: EOS74xQJHB1sFKYVNCbqtzE8jE97AP2mEVkK6eEh2BL2nfokwuSr1
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.