There’s a new player in the world of dicing: Ethbet will be the first decentralized cryptocurrency gambling platform that allows players to bet with no house edge in a peer-to-peer manner. The highly anticipated Ethbet crowdsale is set to begin on September 10th, giving its eager supporters a chance to invest in what could become the most successful dicing project in the history of cryptocurrencies.
Ethbet uses a novel technique of pairing up different players to bet directly against each other. Because players bet against each other instead of against a house, the need for a costly house edge is removed, which will allow players to pay lower fees than on any other platform. As more players move to Ethbet due to its superior returns, lower fees, provable fairness, and transparency, network effects could cause it to become the dominant platform in dicing.
Dicing-related tokens have historically given investors some of the best returns on investment (ROI) possible, with projects such as vDice (1,950% ROI), Edgeless (1,800% ROI), and the infamous Etheroll (6,100% ROI). Ethbet thinks they have what it takes to eventually out-compete all of these projects, which could leave those who invest in the Ethbet crowdsale with even greater profits. With the online gambling industry being valued at over $50 billion in 2017, Ethbet is guaranteed to be a huge success if it can take just a small portion of this market.
“We’ve seen a lot of successful dicing ventures already, where players are all paying house edges of 1% or higher on every single bet they make. Since we know there’s players willing to pay such high fees to gamble, it’s obvious that a platform offering significantly lower fees will become a hugely successful competitor in this market.”
Like most projects on Ethereum, Ethbet has attractive features such as provable fairness, ensuring players cannot be cheated out of their money, and on-blockchain betting, which means players don’t need to create an account or make deposits or withdraws in order to play. Although previous dicing platforms have offered some of these features, Ethbet is the first that is truly peer-to-peer and allows players to cut out the middleman and bet against each other directly.
For investors, Ethbet represents an opportunity to invest in the future of Ethereum dicing, with another chance to get returns on their investment comparable to what early Ethereum and Bitcoin investors received. The Ethbet crowdsale is set to begin on September 10th at 8PM UTC, with the first day of the crowdsale offering a 50% bonus in tokens to early investors, a bonus which will decrease after the first day.
Disclosure: This is a sponsored post.