The new dicing platform Ethbet will allow players to directly bet against each other on the Ethereum blockchain, making it the world’s first truly peer-to-peer and decentralized dicing game. Although Ethbet is a newer player in the world of cryptocurrency dicing, its competitors are worried that its novel business model and peer-to-peer architecture could allow it to acquire a large proportion of the cryptocurrency dicing market share.
Ethbet is different from traditional dicing platforms in that instead of players betting against a house, players are able to bet directly against each other. A house charges a fee called a house edge that slowly causes players to lose their money over time, but when players are able to bet against each other instead of the house, they are able to do so at a reduced cost, as there is no house that needs to rig the odds in its favor.
Ethbet is the platform that allows these players to cut out the middleman, saving them from the costly house edge in the process. 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.
— EthBet (@EthbetProject) September 6, 2017
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.
Ethbet is a novel opportunity to invest in the first peer-to-peer dicing platform for Ethereum. If Ethbet is able to succeed, its early investors could get returns on their money comparable to what early Ethereum and Bitcoin investors received.
The highly anticipated Ethbet crowdsale is set to begin on September 17th at 8 PM UTC, giving its eager supporters a chance to invest in what could become the most successful dicing project in the history of cryptocurrencies. The first day of the crowdsale will feature a 50% bonus in tokens to reward early investors. Be sure to check out https://ethbet.io and read their whitepaper at https://ethbet.io/whitepaper.pdf for more information.
Images courtesy of Ethbet