Edgeless casino is a new Ethereum project with the aim to create a decentralized, fair casino with no house edge. That’s right, Edgeless is a provably fair casino with 0% edge. So let’s get the first immediate question answered – how does Edgeless make money? Three sources primarily –
- Gamblers don’t play a perfect game, they make mistakes. If you don’t play a perfect game, statistically you’ll lose.
- Games have an inherent advantage. For example, the house always has an edge built into the game of Blackjack (around 0.85% if you want the math).
- There are limits on how much you can bet. These limits make play away from perfect game. For example, for obvious reasons, you cannot apply the martingale strategy.
If you really want to know more, read the whitepaper. Seriously folks, read the damn whitepaper first to learn about any crypto project, especially because of what I am about to tell you now – yes, it is holding an ICO. Now, don’t be stupid and gamble in ICOs without doing your due diligence, so once again, read the whitepaper before you invest a penny. Oh and did you know, like so many other ICOs now, no US citizens allowed. Seriously.
Non-US Investors, Read on
Ok, so if you’re a non-US investor, what’s the ICO investment thesis for Edgeless? Firstly, you need to believe that the world needs another casino. The unique selling point of Edgeless casino is –
- It’s decentralized.
- It’s transparent.
- There is no house edge.
If you believe there will be demand from gamblers for such a type of casino, only then consider the ICO. Ahoy mates, without a belief in the product and underlying idea, stay away!
Now, given the ways in which Edgeless casino will make money, as described above, how is that given to the investors? It’s important to note this point – not dividends. Unlike many other projects (I am looking at you, ICONOMI), Edgeless has actually done its homework on what types of structures constitute a ‘dividend’ and thus makes the offering a ‘security’. And we all know, security=bad, software presale=good. So, edgeless is choosing the good option.
But, here’s the brilliant legal part of this offering – you can still get money out of the project (i.e. not just through price speculation) through what’s called the Edgeless Lounge. In a nutshell, 40% of the profits go into this pool. It’s a lottery-like system only accessible via the token. So there you have it – it’s a way to play/gamble to get your money out. Clever, eh?
If you’re brave enough, here’s the actual contract. In code. It’s an ERC20 token on Ethereum.
The ICO starts 28th February 2017, 3:00 pm GMT, with the following tiers:
- Power-hour for one hour, where 1 ETH buys you 1200 EDG.
- 1st week: 1 ETH gets you 1100 EDG.
- 2nd week: 1 ETH earns you 1050 EDG.
- 3rd week: 1 ETH brings you 1000 EDG.
So there you have the ICO details, and other information that you need to decide whether you want to contribute to the ICO or not. Remember, these are some hot times in the ICO markets, with recent projects like Dfinity and Melon completing their ICOs respectively in a few hours and a few minutes.
Check out Edgeless here.
Disclaimer: US citizens are not legally allowed to participate in Edgeless Project crowdsale.