Edgeless.io Launches its ICO to become the first fully transparent Casino, Offering 0% Edge

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Edgeless.io launches it’s ICO this week with the goal to be the first provably fair casino featuring a 0% house edge. At the moment players have to trust that online casinos are giving them a fair game but it is too easy for them to rig games behind the scenes for profit. Players often have the odds stacked against them, as gambling blogger The Wizard of Odds has shown with over 50 online casinos blacklisted for unethical practices, trust in the industry is at a low.

Tomas Draksas, professional gambler and co-founder of Edgeless.io explained:

 ‘We want people to have a good time in Edgeless casino so it was important for us to address this problem of trust. We want to create a place where gamblers can be confident that game play is fair and transparent and of course that the odds are the best offered.”

Now Edgeless.io is tackling the problem with its Blockchain-based casino that will allow players to verify games at every stage of play. Edgeless are combining this with a unique 0% house edge in the hope of building trust back into the system.

Edgeless plans to launch with skill and luck games such as Black Jack and Lunar Poker. Typically these have been games of unequal chance with a house edge between 1% – 15%, depending on the casino. Edgeless.io takes a fresh look at this revenue model. Whilst its 0% edge greatly increase players chances of winning, it is always counterbalanced by player error that creates a natural edge of 0.83% from players imperfect strategy. This gives Edgeless the ability to generate revenue consistently.

 

Once the casino is up and running Edgeless.io plans to introduce a wider range of games such as sports betting and dice that will operate on varying revenue models to boost profits.

Edgeless.io was founded last year by a group of Blockchain and gambling experts based in Germany and Lithuania. The team has already released a proof of concept called Ethslots.win to trial the suitability of the Ethereum Blockchain and smart contract technology. Ethslots.io was released back in September and gained popularity in the community. Edgeless co-founder and lead Blockchain developer Ignas Mangevicius concluded that ’Blockchain and casinos are the perfect match…many benefits are brought to the industry — absolute transparency, anonymity, instant deposits/ withdraws and more’.

The team is now looking for funds to be able to fully develop and launch the casino. The ICO crowdfund goes live on Tuesday 28th February at 3pm GMT and participants will receive EDGE tokens (EDG). EDG holders will be eligible to enter the Edgeless lottery that will take place every month, with a prize pool equivalent to 40% of Edgeless.io profits. Prizes will be awarded relative to the amount of EDG held. There are early bird bonuses including 20% more in the first hour of the crowd fund. For more information visit https://edgeless.io

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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