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Home Unlabelled EOSBet project is already running and is operational

EOSBet project is already running and is operational

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Today, the use of cryptocurrency and blockchain in the field of gambling is an excellent solution that has many advantages for players. Decentralized casino-based casino apps will be driven by a community of players and depositors, not greedy admins and owners. And this means that one of the main problems that exists in the online gambling industry will disappear. The fact is that all centralized casinos are completely controlled by their owners, and they can decide how they want to customize the mechanisms of their slot machines and slots. In most centralized casinos, there are a large number of dishonest cases, many scammers, and there are other more serious problems. Today we will talk about the project, which will improve the sphere of gambling. The project is called EOSBet, which is an online casino built on blockchain technology. And in its basis, as is clear from the name of the project, lies the blockchain of the crypto currency EOS, which operates at a high level and has no problems with scalability. Due to this, all operations on the platform can be carried out very quickly, and at the same time the network will require less commissions to pay the miners' remuneration. Now I would like to talk about the benefits of the project for users.




Advantages of the project for users:

The uniqueness of the project for users lies in the fact that each of us can go to the blockchain website of the conductor for EOS and track any transaction taking place in the casino. And particularly knowledgeable people can visit the Git Hub site and thoroughly examine the source code of the project to make sure of the real, and not twisted, randomness of the slot machines, and the honesty of all the payment mechanisms. This approach allows users to trust online casinos much more strongly and not worry that their account can ever be blocked if they break a big jackpot or win large sums too often. Therefore, playing on the EOSBet platform, gamblers will be able to go into the minus only if luck is not on their side or if there is a chosen wrong strategy of rates and budget allocation. Also, an excellent reason to trust the EOSBet platform is the fact that it has official accreditation, that is, a license to operate online gambling. Accreditation was issued by the regulator Curasao Gaming, which is engaged in licensing online casinos and other gambling organizations. At the moment, the EOSBet project is already running and is operational, albeit with limited functionality. To make bets in EOSBet, the BET cryptocurrency token is used. But payments are made mainly in the same token, but also users are paid extra bonuses in the form of EOS coins. In addition, the creators of EOSBet also pay bonuses of crypto currency EOS also to the major holders of the token EOSBet. You can find out more about all payments on the EOSBet website, because there is information available on all payments to users there.




Business Model
Of course, as a betting house, EOSBet has a mathematical advantage or often called “house edge,” which depends on the types of games. For example in a dice game, the house has a 1.65% advantage. It means that if there is no house edge, then the probability of a player winning is 50%. However, due to the house edge, the players’ possibility of winning is only 48.35% so that in the long run the 1.65% advantage will materialize into the house’s profit. By the way, you can decrease the house edge with this referral.




Different from other online gambling games that often manipulate the results, EOSBet is a licensed casino that implements a “provably fair” system. It means that users could verify the calculated results. This feature act as a form of accountability which is rare in the gambling industry. Moreover, users could also check the game codes since the codes are available on GitLab. Thus, the concept of this online casino business is valid, without shady activities. These games are run with smart contracts on the EOS platform so that the house is less likely to run away with the funds. Therefore, this casino can solve the main problems of online gambling, namely: suspicious winning probability, high house edge, and greed (will be explained in the next discussion regarding dividends). Currently, EOSBet has three games, i.e., dice, crash, and baccarat; however, the developer will surely add more games in the future.


BET Token and Dividend
In most case, the house enjoys tremendous profits by itself. However, this does not occur in the EOSBet. EOSBet has a profit-sharing system utilizing the BET token on its platform. This token is currently not traded and can only be “mined” by betting on the EOSBet dapp. This token has details, as follows:

Ticker: BET
Price: currently not for sale, 1 BET for every 20 EOS wagered
Total supply: 88,000,000 BET (53% in circulation)




For example, on some day the EOSBet platform gains 3,000 EOS, then the dividend of 1 (one) BET token would be (1 / 88,000,000) * 3,000 EOS = 0.0000341 EOS. EOSBet will continue to give dividends forever, well, at least as long as the platform is still running. This profit-sharing concept resembles the concept of a security token or STO, which is good for the platform’s growth in the long run. Also, players would feel that they have the shares on EOSBet casino, so they would care and would not hesitate to do small promotions.


Marketing Strategy
The EOSBet team is very active on social media campaigns and always provides updates on the platform developments regularly. All their social media channels, i.e., Medium, Twitter, and Reddit look very well maintained and neatly arranged. It gives the impression that EOSBet is a professional company. Even though the development team is anonymous, they are doing a pretty good job. This anonymousness is common in the open source world, and users could see their codes on GitLab (or GitHub).




The BET token campaign has made EOSBet listed in the top-10 most used dapps across platforms, not just on the EOS platform.


Investment Feasibility
Although EOSBet has many competitors, I see that this project is one of the betting platforms that can survive and compete for success. I base this statement from:

  • It has fully functional and fully decentralized apps;
  • It has a large user base. EOSBet is listed on the top-10 most used dapps across platforms;
  • It has great communications through social media channels; and
  • It has a very attractive dividend system.
  • And finally, I conclude that this project is NOT a scam, because:

Users can verify all codes on GitLab; and
EOS blockchain stores all transactions and users can check it manually.
The above facts show that this BET token is worth to be collected and is pretty unlikely that this is a scam project. But you cannot buy this token yet. You must gamble to get it. Also from the ethical point of view, some people frown a gambler (and gambling industry as a whole). Therefore, I think these tokens (and games) are for some niche market, for some people who are more liberal. Nevertheless, from the technology perspective, the trend of online gambling is interesting to discuss.Disclaimer:

Conclusion:

Analyzing the project, it can be concluded that, despite the fact that this gaming application at EOS is the oldest, significant work is being done to improve the platform base and improve the quality of the gambling field of activity for the players. At the same time, negotiations are held with many partners on cooperation, as well as the possibility of listing the token on the largest exchangers. Obtaining a license for gambling and maintaining margins without the possibility of transfer strengthens the company's chances for a favorable listing. So, based on everything described above and the plans that the team has set for itself, as well as high user confidence, the project has good prospects for the future .

To get more info about the EOSBet.io, please visit some of the sites below:





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