Edgeless Ethereum Casino| Crowdsale 28/02/2017
Decentralised Edgeless CASINO by etherslots.win
The Ethereum smart contract-based Casino offers a 0% house edge and solves the casino transparency question once and for all.
Online Casinos - Price and Transparency
The online gambling industry was valued at USD $45 billion in 2016. However, it has two major problems: the price of the gamble and transparency. The price of the gamble comes from unfriendly user rules: a large house edge of 1% - 15%, money deposit/ withdraw fees and 2 - 3 days withdrawal delays. Besides that, there is no way of knowing what is happening inside the casino servers and how the mechanisms are programmed. It can be easily rigged. Players need to rely on trust in the casino which is not the best option in such a profit-driven industry.
Using the power of the Ethereum smart contract, we are introducing the Etherium-based Online Casino which offers ZERO edge for its players and
Crowdsale start February 28th, 2017, 3PM GMT
Power hour (28th February 2017, 3:00 pm GMT - 28th February 2017, 4:00 pm GMT)1ETH = 1200 EDG
1 week (28th February 2017, 4pm GMT - 7th March 2017, 4pm GMT):1ETH = 1100 EDG
2 week (7th March 2017, 4pm GMT - 14th March 2017, 4pm GMT ):1ETH = 1050 EDG
3 week (14th March 2017, 4pm GMT - 21th March 2017, 4pm GMT):1ETH = 1000 EDG
In the first phase, we will develop 0% house edge Blackjack and the "Edgeless Lounge". The Lounge will ensure a decentralised price pool which is backed by 40% of casino profits. People will have a chance to win it using our EDG tokens. Another part of investment will be allocated to the casino bankroll/bank so the casino can pay out wins for the first wave of visitors. 50.000 ETH
At this phase, most of the funds will be allocated to security and hacker prevention plus increasing the size of Edgeless Casino’s bankroll so that it can payout larger wins. An increased bankroll can take more visitors and wager larger bets. 110.000 ETH
We will work on the development of a new game - 0% house edge lunar/ russian poker. It’s based on luck and skill, the same type as Black Jack. The second game will be micro limit dice - a pure luck game.190.000 ETH
This phase is all about sports betting development. It is on a smaller scale but has a better ROI than traditional games. Our Edgeless way provides a much lower edge than other casinos - sports betting will compensate this allowing our casino to stay competitive.250 ETH
The Grand Vision - a platform for developers where they can easily take our tools and develop their own fully transparent casinos so that cryptocurrency and blockchain can become the standards of the casino industry and later on, the standards of the world.360 ETH
How the crowdsale funds will be used?
Ignas Mangevicius, Co - Founder Blockchain-Based Systems Developer, Etherslots Founder
Firstly he is a father and a husband. Secondly he profoundly enjoys developing centralized and decentralized systems. He is a university educated Information Systems Engineer who has been working in IT for more than 10 years.He is now focusing on smart contracts and Ethereum-based decentralized apps that he sincerely believes will make us a better world. His most recent project is the etherslots.win, Dapp built on the Ethereum blockchain.
Tomas Lukosaitis, Co - Founder Operations and Business
Tomas is coming in from the field of P2P technologies, the sharing economy and FINTECH industry. He was working as digital marketeer in a platform called “SAVY”. It is a peer to peer lending platform which connects investors to consumer loan offers. Currently, Tomas owns an IT development company which specialises in Mobile App Development. His key competences which are needed for Edgeless Casino are: digital marketing, and operations management.
Tomas Draksas, Co - Founder Professional Gambler and Poker Player
In 2008 - 2013, online poker was on the rise and a lot of new players were jumping into the game. At that time, Tomas decided to study the math of probability and poker. Later on, his direction changed to investing, cryptocurrency and digital marketing. He is the CEO of a conversion rate design company, Convi Design, which provides solutions to start-ups in the field of conversion rates and sales funnels. Additionally, he is investing into other startups. His key competences which are needed for Edgeless Casino are: probability math and models, gambling theory and psychology, digital marketing.
Dipl.-Ing. Julia Altenried, Smart Contract and Dapp Developers
She studied computer science at the University of Salzburg and the Politechnical University of Madrid. Julia has gathered over eight years of experience as a software engineer, working for different international companies, and then founded JAM Data. Julia specialized in IT-Security and later blockchain technology with a focus on Ethereum smart contract development. In Blockchain technology, she sees the potential to increase transparency in governmental operations as well as business processes, thereby reducing corruption worldwide. When not working, she is traveling around the globe or practicing Yoga.
Dipl.-Ing. Stefan Höller, Smart Contract and Dapp Developers
Stefan was formally educated at the University of Salzburg. His career started 15 years ago as the e-commerce department head for Austria's largest bicycle retailer. He's a professional mean-fullstack engineer and early blockchain enthusiast. Currently, he is consulting for companies regarding decentralized applications. Stefan sees blockchain technology as a powerful tool to bring equal chances to developing countries. He is a fitness-freak and passionate about exploring foreign cultures.
Paolo Rebuffo, Advisor of Edgeless Project Blockchain Investor and Analyst
Paolo Rebuffo is a whale cryptocurrency investor and senior advisor/strategist of "Digital Identity". His work is related to search and analysis of valuable blockchain-related projects. "Digital Identity" has its own development team that is currently working on the bitcoin and ethereum blockchains. They also do direct financial investment in other crypto projects. Besides that he actively travels the globe and meets blockchain project teams in person.
Ransu Salovaara, Advisor of Edgeless Project CEO of Revoltra.com and TokenMarket.net
Ransu is the co-founder and CEO of Revoltura, the company behind BitcoinETI, Europe’s first bitcoin-backed exchange traded instrument. BitcoinETI is listed on the Gibraltar Stock Exchange and traded at the Frankfurt Stock Exchange. Ransu is also an escrow for several blockchain projects. Additionally, he is an active blockchain community member and believer in decentralisation.
Q: What is Edgeless Casino?
Edgeless casino is fully transparent since
it is based on Ethereum Smart contracts. All Ethereum smart contracts
are non-changeable and publicly available for everyone to see and
Q: How are other traditional online and bitcoin casinos cheating?
There are two main ways. First, the casino
can easily overcome their own 'random fairness check' without being
spotted. Second, the casino can easily fake win sums and hide profits
from investors (in case they are sharing it with investors). Check the
1.2. Section in the White Paper for a detailed explanation.
Q: How Edgeless Casino is transparent?
Edgeless casino is fully transparent since
it is based on Ethereum Smart contracts. All ethereum smart contracts
are non-changeable and publicly available for everyone to see and
- Edgeless Casino players will trust that the casino will
not able to cheat against them. EDG shareholders will alway be sure of
- Edgeless Casino is transparent by providing full disclosure of the amount of profit earned.
- EDG shareholders will be able to trust that in 30 days
cycles, they will be transferred 40% of Edgeless’s profit to their
wallets by non-changeable smart contracts.
Q: What is “The House edge”?
The House Edge is a term used to describe
the mathematical advantage that the gambling game (therefore the
commercial gambling venue) has over you as you play over time. This
advantage results in an assured percentage returned to the house over
that playing time, and for you, it is an assured percentage loss of what
Imagine that you are playing roulette and you bet 100$ on a
colour red. Because roulette has a number zero coloured in green, which
is neither red or black, the house gets an advantage of 2.7%. This is
calculated by:100 : (36 +1) = 2.7%
So if the house has an “edge”, you basically lose every
time. If you bet 10$, your expected loss is 0.27$ dollars. In 1 hour,
you can spin approximately 20 - 25 times. If every time you bet 10$, in
that hour you are expected to lose 5.4$ - 6.75$.
Q: Are Edgeless tokens tradable on exchanges marketplaces?
If a token holder wants to trade the tokens,
he/she may do it easily because the tokens are based on the ERC20
standard. In order to prevent multiple withdrawals using the same
tokens, the tokens will be locked for trading for the rest of the
interval after the profit has been collected. As soon as the next
interval starts, the tokens will be unlocked automatically.
Q: How to reduce edge up to 0>#/h3### A casino has a blackjack edge because they have the best decision making position - the last one. That means players can bust before the house even draws a card. To compensate for this edge, the house gives additional bonuses for the player such as 1 to 3 payoff in the case of a blackjack, and the ability to double bet if the casino has a bad card. That’s exactly what we would do - by increasing these additional bonuses to reduce the house edge to 0%.
Q: What is "Edgeless Lounge"?
"Edgeless Lounge" is a special lottery game
which can be played using EDG tokens. Participants compete to win a
lottery pot and prizes are paid in Ethereum currency. 40% of Edgeless
Casino profits go into a prize pool for "Edgeless Lounge". The lottery
takes place every month.
Q: Where your team is based? Have you built any other projects on blockchain?
Our team is based in Lithuania and Germany. First ETH casino project we built is: etherslots.win
Q: Why do I need Edgeless tokens?
- Participate in the "Edgeless Lounge" lottery game and win a share of 40% of casino profits!
- Edgeless Casino is fully transparent since it based on Ethereum smart contracts
- Edgeless Casino players will be able to trust that the casino will not cheat against them
- EDG shareholders will alway be sure that Edgeless Casino is transparent in providing the full amount of profit earned
- Edgeless is the first casino with 0% edge based on Ethereum blockchain
- Edgeless Casino will have strong competitive advantages
(0% edge, transparency) to increase market share in order to become a
- Edgeless Casino will provide many gambling games (BlackJack, Video Poker, Dice, Sports Betting)
Q: How Edgeless casino can be profitable with 0% edge?
Casino profits and 0% (0.83% in practise) house edge concept.
There are several ways how Edgeless Casino can be
profitable. Edgeless Casino provides games which depend on LUCK+SKILL
and Sports Betting.
The first two games provided will be Blackjack and Video
Poker. Both games are played with a combination of LUCK and SKILL. That
means players make choices and either play well or poorly. To give an
example of such a situation:
House has a 6 card.
The player has 16.
The player wants to collect at least 17 and hits for one more card. - BAD MISTAKE.
The player just made a huge error, because, 12+ against 6 ALWAYS STAYS. (according to Blackjack basic strategy)
An average player does not play ‘the perfect game’ therefore, in the long run the casino makes a profit from his mistakes.
An analogy can be taken from poker. A new player is
playing against a Pro. Both have equal probability conditions - 50% vs.
50%. However, the Pro player makes better choices and the new player
makes bad decisions, and in the long run, the Pro wins.
Look at this EXTENSIVE RESEARCH from players’ mistakes in Blackjack - on average they give away an 0.83% edge to the casino. https://wizardofodds.com/image/ask-the-wizard/how-poor-are-bj-players.pdf
And that's exactly what the casino will earn - 0.83% which is the same as playing dice with an 0.83% house edge
The second stream of profit comes from sports betting.
Sports Betting connects bettors against each other, charging vig / juice
/ rake from each side for their bets. In this area, the casino will
earn 4% from all money wagered. An analogy can again be taken from
poker. Imagine two players are betting 10$ against each other and the
rake is 1%. So, they are actually betting 9.90$ and winner gets 19.80$.
More information on how sports betting is making money:
To sum up - the first stream of profits is from games of
luck+skill. The second stream of profits is from Edgeless casino with
0% edge games and is a very strong marketing channel for attracting
players to Edgeless Casino. Gamblers can enjoy fair betting conditions,
and a good percentage of visitors will do Sports Betting which generates
4% returns to the Casino.
The concept has not literally come out of the blue - discussions on zero edge casinos are already occurring in the community.
EDG token investor’s protection
Edgeless ICO day is approaching, so we are going to release more information on our Edgeless Token.
Due to the many the poor ICOs that have come before, more and more investors are getting serious about their investment protection. Since a crowdsale is a ‘product’ for investors, we will outline here the main crowdsale governance elements protecting investors from scams, token devaluation, or a failed ICO.
1. Smart Contract Escrow — The ICO is based on Ethereum Smart Contracts which automatically govern all ICO process. Contracts are uploaded to the blockchain. During the ICO it’s impossible to interfere with this process. It also works as an escrow. What that means for ETH is that the smart contract automatically sends EDG tokens to investors. Other famous projects which have used the same escrow system are golem, vDice, and melonport.
2. Smart contract protection from hacking: Edgeless ICO uses officially tested/ released Ethereum Foundation contracts. We also build our contracts on that. However, ICO contracts are relatively simple, so there are not so many points at which it can be hacked. Moreover, we are carrying out significant contract testing prior to the ICO, and our contracts will be audited by First Blood’s IT advisor — Mikko Ohtamaa. Similar contracts have been used by other successful ICOs, such as golem, vDice, melonport.
3. Early investor protection — ICO minimum goal. We set milestone 1 as a minimum ICO goal of 50 000 000 EDG tokens sold (41666 ETH — 50 000 ETH). If this minimum goal is not reached, the ETH is automatically returned to investors. This process is guided by a Smart Contract, and it also protects early investors in the event the project does not raise sufficient funds for development.
4. Unsold token burning — The ICO sells 440 000 000 EDG tokens. Unsold tokens are automatically burned by the Ethereum Smart Contract. Investors are thereby protected from possible token devaluation, for example, in the event that half of the tokens were not sold, and a development team was in a position to devalue the token.
5. The dev. team gets 10% of the EDG tokens. Tokens are automatically locked for 12 months by a Smart Contract. This means investors can be sure that the Edgeless dev. team has an economical incentive to increase the value of the token, and investors are also protected from the risk of immediate token dumping following ICO.
6. Instant Bounty participant payouts are made based on the ICO ETH raised. Other part is released over time. This protects investors from bounty participants dumping tokens early and devaluing the token.
7. What if I do not understand Smart Contracts and I cannot be sure that all the points mentioned above are actually programmed into the contract? Actually contracts are not that long, and we will release a medium post explaining which line is responsible for which of the above functions. Our contracts will also be audited by a 3rd party to confirm that all the investor protection functions mentioned above are actually programmed into the contract.
8. Profit sharing tokens risk NOT appearing on large exchanges. That’s why our project does not offer a profit sharing token or deal with exchanges beforehand.
9. Project communication after ICO: Following the ICO, weekly project updates will be issued via newsletter/ twitter/ blog and other channels. In this way the blockchain community and investors can see the direction of the project. Constant project communication also raises the value of the token and helps the project to grow even more.
10. Raised funds diversification. Cryptocurrency value jumps around quite often and there is a risk of ETH price going down. Therefore, to protect raised funds from unpredictable pricing, the fund will be diversified into several different assets.
What do you think about investor’s protection which is available due to power of an Ethereum Smart Contract?
White paper: http://bit.ly/2jHIb7T
Edgeless Token (EDG) is on myetherwallet
Crowdsale did not even started yet and EDG token is already on myetherwallet.com
Smart Contract will send you EDG tokens instantly, during an ICO start. Real time.
Tomas DraksasDrake as Edgeless.io Co-founder, Professional Gambler and Poker Player
Day after Edgeless ICO start and Black Jack Bet
Hey blockchain community and gambling enthusiasts!
The Edgeless team are extremely happy to have successfully reached the 1st milestone on the first day of the ICO, raising 52 000 ETH. (960.000$)
Milestone 1 guarantees the Edgeless Project to the gambling market, and our solidity programmers already started working on it.
In this milestone we guarantee to develop:
- 0% house Black Jack
- Edgeless Lounge Lottery
- Proper bankroll management system
Some additional deliverables we are considering which were not included in our white paper:
- A Smart Contract which would allow people to bet for a casino/ to a casino’s bankroll.
This is similar to the system currently used by BTC casinos. People can bet on the casino’s bankroll and receive a certain amount of return. Over a long run, the casino’s bankroll wins.
However all BTC casino owners can easily “drain profits”, creating admin accounts and rigging odds specifically for that account.
In our case, everything is based on a Smart Contract so all information is public and people can be sure that their profits are not being drained.
Black Jack beta
Second really excisting thing is 0% house edge Black Jack Beta. Our developers are working hard on a 0% house Edge Black Jack. We expect to launch a beta version on Ethereum Test Net in late March. Stay tuned, more details are coming soon.
Further goals we are working on in the coming week.
- 0% house edge Black Jack Montecarlo simulation. We will soon be publishing the rules of a Black Jack game which offers a 0% house edge when played at optimal strategy. We will also be publishing files for a Montecarlo simulation, which you can view on your own or provide us with feedback on rule changes.
- Building an EDG token infrastructure and adding it on etherscan, parity and other necessary ethereum infrastructure units.
- Continuing work on an ICO and spreading the word about how an ethereum casino startup is going to disrupt the whole industry
White paper: http://bit.ly/2jHIb7T
Update on EDG token infrastructure
Hello EDG tokens holders!
We are happy to announce updates on:
- EDG token logo
- EDG token in ETH wallets
- Token Verification by Etherscan
We have uploaded the official logo of our token to github
EDG token on ETH wallets
EDG token is already added as a “default” token on Parity and Myetherwallet.
This is how a token looks on parity as a default token
And EDG token on myetherwallet as a default token
Regarding other ETH wallets: other ETH wallets still require adding EDG tokens manually. If you have it, add it manually using a token address:0x08711d3b02c8758f2fb3ab4e80228418a7f8e39c (DO NOT SEND ETH HERE)
Token Verification by Etherscan
Etherscan tracks all ETH blockchain movement including mov
Some upcoming news:
- This week we are officially launching Edgeless Beta Black Jack on Ethereum testnet
- This week we are publicly releasing the Montecarlo simulation of Black Jack rules so people can test it on their own and simulate thousands of hands
‘Sneak peak’ of Black Jack GUI
Edgeless beta 0.1 announcement!
The time has come!
Let me introduce Edgeless Black Jack beta 0.1
Ethereum based Black Jack with decentralised random number generation and payouts.
DISCLAIMER: Keep in mind that this is a beta version. The purpose of it is to showcase/ prototype blockchain solutions for Edgeless online gambling applications. It might contain errors or bugs or security issues. If you find some, please report them to [email protected]
- Black Jack based on Ethereum cryptocurrency
- Betting integration with metamask
- Smart Contract guiding all casino transparency and reporting it to the blockchain
- Players can provide a randomness generation seed using random.org, Mozilla crypto library generated randomness, or even create their own number seed
Main features which ARE NOT in the beta version, but will be added later on for full beta functionality
- Betting integration with myetherwallet
- 0% house edge Black Jack rules (as you can see now there is no split and double functions which significantly reduce the house edge. These features and 0% edgeless rules will be developed later on)
- Upgraded game user interface. Right now we are using oversimplified designs for the beta version. Updated versions will have much more fancy design :)
An updated development roadmap will be published after the ICO.
Beta bet limits
Right now you can bet a unit which is call “finney”. It’s 1/1000 ETH.
0.1 chip — 0.0001 ETH
1 chip — 0.001 ETH
5 chip — 0.005 ETH
10 chip — 0.01 ETH
Transaction costs (gas)
Right now betting (transaction) gas is paid by the player. Due to the increased ETH price, gas is relatively high. However the gas price will be significantly reduced in the full version of Black Jack.
Casino speed and metamask transaction confirmation
In the current version of the casino metamask is always asking for confirmation before a bet and payout claim. It’s quite irritating. Also shuffling gif is open while metamask is communicating with Edgeless Casino which reduces the speed.
That’s why our final version will be able to use more available ETH wallets such as myetherwallet integration. Then the casino will function at the speed of light and deliver the best user experience.
Despite this our gambling dapp is still the FASTEST dapp among all ETH based gambling dapps and our competitors are a long way off when it comes to the speed of the casino.
How randomness is generated?
It’s using client’s seed (number) and casino’s seed (number). Both numbers are blended into a random number which determines a final outcome. Main idea is that even if casino change own seed or randomness generation formula — final outcome is still going to be unknown, because there is an input (seed) from a player.
After the game blockchain confirms whether there was no change/ interruption in that process and makes sure that everything is transparent.
If etherscan API says
It means client’s seed and casino’s seed matches last game results and there were no changes during a randomness generation process.
If etherscan API says
That means client’s seed and player’s seed does not match last game results and there was an external interruption during the process.
How to bet on Edgeless beta?
- Download metamask and switch it to Ethereum main net
- Fund your ETH wallet on metamask
- Go to beta.edgeless.io
- Place a bet
- Accept metamask confirmation
- Enjoy! and don’t forget to provide feedback to [email protected]
White paper: http://bit.ly/2jHIb7T