Ethereum Blockchain Gambling The blockchain is going to revolutionize many different industries but at the forefront of development is the gambling sector as developers look to reap the rewards of…
How Edgeless Gambling On The Blockchain Works
The younger generation of gamblers is not playing traditional online casino games that rely on luck as they are smart enough to know that the casino has a house edge, therefore, over the long-term they are guaranteed to lose. Thanks to the blockchain, however, that is starting to change as edgeless gambling is now possible due to new cryptocurrency ecosystems. In this article, I will explain how this works and how you can capitalize.
What Is Zero House Edge Gambling
Zero house edge gambling means that the casino operator does not expect to make any profits on the games as they provide gamblers with a 50/50% chance to win. It is essentially the same odds as flipping a coin but with the correct betting strategy, it is possible to come out on top. Popular traditional casino games such as Roulette have been transformed by the blockchain as it has made it possible to remove the zero and therefore eliminate the house edge.
Decentralized Zero Edge Games
Decentralization is one of the key components of zero house edge games as it creates a platform that can not be controlled by any individual as it is run on the blockchain. That means that even the founders of the platform are not able to change the results of holdback payments. Decentralized gambling applications or DÀpps as they are run autonomously by using smart contract technology that is programmed to handle the running of the platform including payouts and verification.
Zero House Edge Rate Transparency
One of the biggest issues at a traditional centralized casino is the level of transparency they provide their users. That is a serious problem when it comes to house edge rates as without access to information there is no way the community can carry out checks. What makes zero edge casinos so special is that the rate can be verified by all as it is available in the form of a public ledger.
How Zero House Edge Casino Make A Profit
The reason why traditional casinos can not offer zero house edge games is that it is not financially viable as they must make profits and this is the only way it is possible using a real money casino platform. The blockchain is a game-changer is the gambling industry as it can make profits through two different methods.
- Raising Money Through An ICO – During the concept stages of new blockchain-based casinos, the founders can raise funds from investors. They are then able to keep a large proportion of the tokens pre-minded so that they can capitalize should the price of their crypto gaming token rise and use the rest to fund the project getting off the ground.
- Skill Games – By including games such as video poker and blackjack at the platform it means that these forms of casino games have an edge rate that is based on players’ skills. The game must be played perfectly each time to gain an advantage so any mistakes made will cost the player and the house will profit. According to data from EdgelessCasino.io, it provides that house with a slight 0.83% advantage.
Top 3 Advantages Of Playing at Zero Edge Casinos
The type of advantage available at playing at no edge blockchain casinos varies as it depends on which platform you choose to gamble at. For instance, some have an attached faucet so you can get free crypto to play the games on offer without making a deposit. Below are the top three benefits that you need to know about:
- 50/50% Chance Of Winning – When you gamble at an edgeless casino you have an equal chance when compared with the house to win. This is essentially the same at flipping a coin that you will not find at any traditional online gambling platform as it is not possible due to the business model.
- Gambling Token Could Rise In Value – The cryptocurrency marketplace can be volatile at times and is seen by many as a form of gambling. It depends on your viewpoint of the future and knowledge of the present financial systems fails to make an informed decision on their viability. Bitcoin has shown that is can withstand anything thrown at it and early investors have become rich by believing in the product. The same can happen with crypto gaming tokens and if they do become the mainstream option in the future, anyone who holds them will gain big profits.
- Ability To Cash Out At Any Time – Cryptocurrencies enable the ability for micro-gaming and micro-payments which means that punters can bet tiny amounts each bet. On the other hand, they also enable larger deposits and cashouts to be made than with real money so they are the best of both worlds. You will normally find a minimum withdraw the amount at blockchain casinos but it will be a lot slower than the ones found at traditional online casinos. Also, there are no fees attached and the payout is instant along with available to transfer into fiat currency within a few hours via an exchange should the user wish.
Top 3 Disadvantages Of Zero Edge Casinos
Edgeless gambling blockchain casinos may be superior to traditional casino platforms in many ways but there are still several flaws that need to be resolved before they become mainstream. Below are the top three disadvantages that you need to know about:
- Token Value Could Go To Zero – One of the riskiest investments you can make is investing in a cryptocurrency ICO. Most of these projects fail to fully get off the ground which means that those that invested cloud lose most or all of their money. On the flip side if it is a success you could see the valuation skyrocket like has been the case with many cryptos such as Ethereum and EOS.
- Edgeless Gambling Platforms Are Unproven – Zero house edge games that run on the blockchain-powered by their decentralized cryptocurrency is a new concept and unproven. Sites such as Edgeless Casino are leading the way to prove that the model can succeed but only time will tell if it can or cannot.
- Scam Zero House Edge Casinos – Sadly the internet is full of individuals and companies looking to scam people out of their money. The gambling industry is one of the worst for this so you need to pay extra care and attention. Make sure to carry out your research on the platform along with who the founder is to make a calculated judgment on whether to invest in the ICO or buy tokens to gamble at the website.
Before the blockchain came around, no one thought that zero house edge games would ever be possible. It is a very exciting time and cryptocurrency gambling edgeless casinos have a chance of putting the big operators who currently dominate the sector out of business. With models built around rewarding users instead of profiting from games, it makes for a fairer along with a community-driven site that is owned by the users who all profit if it is a success.
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