EOSBET - Betting Game Application

Hello everyone, this new post I want to introduce about a very interesting and good project that is EOSBET, and for more details, let's just go to the following discussion:

What is EOSBet Casino?

EOSBet Casino 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 the 100% profit of 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 the token more than $ 1 million in just 2 months of operating the platform.

How It Works

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.

Why We Built Our Proof-of-Concept Games on Ethereum?

Although we’ve been testing and developing on the EOS.IO testnets, the EOS.IO blockchain isn’t expected to launch until June 2018. We built two fully-functional games on the Ethereum network as a proof-of-concept for three reasons:

Initially, to test the potential for building a large-scale platform on Ethereum.

To show our ability to quickly and effectively develop products. (While the shortcomings of the Ethereum network limited the types of games we could build, we’re confident these gambling DApps are the most optimized on the blockchain.)

To give our community and followers something to stay entertained with while we lay the foundation for our enterprise-grade smart casino.

What’s So Great About Our Games?

Fastest Gameplay on the Blockchain
We’re the first fully on-chain platform (meaning we use no central servers like FunFair or Edgeless) to largely solve the problem of slow gameplay — a significant pain point for players. We 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 our games is a breeze. Our 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 our 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. Our code has been audited and reviewed by multiple experienced 3rd parties and undergone an extensive bug bounty. Our random number generation methodology has undergone considerable research and testing in order to determine the most efficient and secure techniques. Check out our 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. Our PoC games allow anyone to invest in our bankroll and take a cut of our game profits. Although we’ll be eliminating all house edges on EOS.IO, our PoC games feature a small house edge that functions to fund development and reward contributors. 80% of all game profit is distributed proportionally to our bankroll stakers. Contribute now to get a piece of the action!

Dice
Our 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

Play EOSBet Games and Get Rewarded in Our Aidrop!
We’ll 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