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Wednesday, June 23, 2021
Home News Edgeless.io Launches its ICO to become the first fully transparent Casino, Offering...

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

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).

UPDATE: See this Medium post for an update on Edgeless, including a new staking feature:
https://medium.com/edgeless/what-is-edg-bankroll-staking-ac0e85baad1f

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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