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Edgeless casino has just released its beta version of Black Jack with one day left to run on its ICO crowdfund. Black Jack will be the first game released to market when the Ethereum blockchain casino officially launches in autumn. Edgeless casino is offering a unique combination of fully transparent gaming with 0% house edge. Its highly competitive business model aims to attract more gamblers to the cryptocurrency whilst re-introducing trust back into online gaming. With the release of Black Jack beta, gamblers can now trial Edgeless’s unique features using real ETH cryptocurrency.
Online gambling is a growth market. The global online gambling market today stands at $45.6 billion and this figure is expected to more than double by 2024, according to TMR Analysis. Online gamblers are increasingly turning to cryptocurrencies with gambling accounting for more than 60% of all Bitcoin transactions. Edgeless hope to now popularise Ethereum as a currency of choice. Cryptocurrencies have some great features that lend themselves to online gambling such as the speed and immediacy of transactions, low barriers to entry and lower transaction fees. Edgeless plans to extend these features with the addition of fully transparent gaming to demonstrate that it is not possible to cheat the system.
‘Typically the transparency mechanism for online casinos are inside their servers meaning they can easily influence every variable without being noticed – and they frequently do! At Edgeless a tamper-proof smart contract will connect the casino’s server to the blockchain – this will reveal the inner workings of our games for everyone to verify.’ Tomas Draksas Co – Founder, Edgeless.io
The casino plans to launch with its flagship game Black Jack followed shortly by other skill+luck games such as Lunar Poker and Russian Poker. These games will all have a unique 0% house edge that the team anticipate will attract the attention of the gambling community. Edgeless will then diversify into pure luck games such as Roulette and Dice and finally Sports Betting.
Alongside these, Edgeless will run ‘Edgeless Lounge’, a special game reserved for EDG token holders. Every month 40% of casino profits will be sent to the Edgeless Lounge prize pool and the profit sharing lottery will give token holders the opportunity to win back a proportion.
To date, Edgeless casino has raised over $2.5 million from over 800 individual investors in the sale of its EDG tokens. The ICO is live until 21st March at 4 PM GMT at https://edgeless.io. The Black Jack tutorial is available here: https://medium.com/edgeless/edgeless-beta-0-1-announcement-8c3ca97de2c0#.cbwa58t6q