There has been an explosion of new gambling games popping up on the EOS network over the last couple of months. It first started with EOSBET and now I can count about 25 clones that have released very similar dice games that pay dividends. The majority of these clones are not worth playing or investing in, but there are some exceptions like Betdice that are racking up huge volumes. The dice games are fun and they show that EOS can handle many transactions, but they remind me of slot machines in a real casino. You do have some flexibility in determining your risk level for each bet and the amount of EOS you can bet at a time. These variables do not change the fact that you simply press the “roll” button and either win or lose, like a slot machine. When I go to a real casino, I prefer to play table games that offer more engagement and strategy when gambling for entertainment. Blackjack, roulette, craps, baccarat, poker all offer more entertainment than slot machines even though they do require some understanding of the game. There are more options for strategy and more suspense in seeing the results. It was only a matter of time before an EOS team could figure out how to create smart contracts that can handle card games and other table games.
EOS Poker confused everyone by making their first game different than their name with blackjack, but the team is working on poker as well. After playing a few hands of blackjack, it was clear to me that I enjoy playing blackjack more than dice. Dice is still fun, but it is nice to see some options for EOS gambling just like in a real casino. The engagement is higher since you need to pay attention to the dealer’s cards in addition to your own and use basic strategy to minimize the house edge. Dice games involve hitting the same button over and over, whereas blackjack involves choosing between hit, stand, double, insurance and split on each hand. I understand that most people are gambling on EOS in order to earn tokens and dividends, but you might as well have fun while doing it.
EOS Poker tokenomics are very straight forward and easy to understand. There is a total supply of 10m POKER tokens. 2m of these tokens are reserved for the team. The rest are to be distributed to players on a 10:1 ration, which means for every 10 EOS that you wager you will receive 1 POKER token. Once you receive these tokens you will need to stake them on EOS Poker’s website in order to receive dividends. The only benefit of not staking tokens is if you decide you want to sell them on a DEX like Newdex for a profit (the price has been rising rapidly since inception). The dividends are determined by taking the total profit, subtract 20% for the team, and then distributing them amongst the total staked amount of tokens. At the time I am writing this, the total number of staked POKER tokens is 2.7m. This small of a pool allows for huge daily dividend payouts even with small volumes.
If you missed the boat on Betdice and EOSBET, this might be an easy way to establish a great passive income in a project that is just getting started. In order to secure a 1% stake of the circulating supply of POKER, it would cost you roughly 3500 EOS. If you want 1% of the circulating supply of Betdice you will need to come up with about 75000 EOS. I know that Betdice has huge volumes and Baccarat is coming soon, but things can change quickly in EOS gambling dapps and you have to think about the future, not just the current volumes. I like both projects and am invested in both, but I believe the upside potential is larger with EOS Poker right now. Even with the POKER token appreciating rapidly, the marketcap based on circulating supply is a tiny $1.8m compared to Betdice that has a marketcap of $37m. If EOS Poker was listed on Coinmarketcap, it would be ranked 760th. That is crazy low for a project that has a fun working product, already paying dividends and team that has proven themselves capable.
Cryptocurrency and the EOS network have been described as a “Wild West” type environment since everything is so new right now. It is fitting that a poker game would emerge as a top dapp since there were many poker games being played in saloons across the real Wild West. Nobody can predict the future of EOS gambling, but EOS Poker is allowing me to play blackjack on a provably fair platform and I am seeing real dividends paid to my account on a daily basis. I have been looking for crypto’s and dapp’s that deliver, not just talk about the future. EOS Poker is one of the few project that is backing up it’s talk with hard numbers and products that you can use.
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