Edgeless White paper Introduction
The online gambling industry was valued at USD 45.86 billion in 2016. However, it has two major problems:the price of the gamble and transparency. The price of the individual gamble comes from user-unfriendly rules: a large house edge of 1% – 15% (ref. Expn Section nr. 1), money deposit/withdrawal fees and 2 – 3 days withdrawal delays. In addition, there is no way of knowing what is happening inside the casino’s servers and how the mechanisms are programmed. It can be easily rigged. Players need to rely on trusting the casino, which is most likely not the best option in such a profit-driven industry.
In 2008, Bitcoin and cryptocurrencies solved the gambling price problem. Cryptocurrency casinos are cost effective and can offer a 0.01% – 2% house edge, with instant money transactions without or little fees. However, the transparency problem is still there. Casinos can easily rig the game or hide profitability from the investors.
Using Ethereum smart contracts (ref. Expn Section Nr. 1.5), we can have a low price per gamble and solve the transparency problem. Random numbers and payouts can be ruled by smart contracts which are fully public and implemented on an Ethereum blockchain. Now players can see everything: transactions, sums, bets, the reasons why transactions are moving and, most importantly, the mechanism of randomness. If the casino tried to rig the odds, it would be immediately spotted.
Our team brings the first transparent and selected zero edge casino games to the market – Decentralised Edgeless Casino. At this point in time, there are no casinos like this in the world.
Our casino will offer a 0% edge Blackjack as well as other games like Dice and Sports Betting. All games will be based on the Ethereum smart contract and will ensure transparency.
Edgeless Website
Edgeless Whitepaper
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