Ha Ha – You Can’t !!

It is a Casino !!!

Like any casino the house wins. The house odds on EosBet 1.65%. This is reduced to 1.15% for the house if you use a referral in which case you share the 0.5% with the referrer. Your odds increase from 98.35% to 98.6%. It still means that in the long run you lose.

EosBet is the most active Dapp on the Eos platform. The major reason for this is that the developers are promoting their business model and they are giving away their BET token as a bonus, in proportion to the value of bets placed on the game. For the moment this is the only way to get hold of BET tokens. Initially it was set 1:1 which was reduced to 1:2 then 1:5 and now 1:10. I believe there was 10% (8.8 million) BET tokens to be distributed this way and it is fast coming to an end. The presale where the minimum purchase was 1000 Eos is also closed.

There was a plan for a public ICO in the white paper but so much have changed that I believe that this ICO may never happen. I suspect that they will continue with their bonus system as this is the best way to gain new customers to their platform and promoting their future games.

Economic value of the BET token.

Total issue of BET token is set at 88 million and this will never be increased. 100% of profits from their games will be paid out to BET token holders. Their white paper stated that this payment will be paid quarterly but it is being revised to be paid weekly!

The BET token is a good token to hold as it will bring you a continuous revenue forever. Gaming is a huge industry and there will never be a shortage of gamblers. In getting their Dapp on the Eos platform they are able to make gaming simple and accessible to anyone and everyone. I will not comment on he morality but

1) You do not need to sign up and volunteer any private information, You just need a Scatter account or some other verification system.

2) You do not need a bank to approve of your deposits. 

3) No authorities to track your activities

This will turn the gaming industry on its’ head.

Currently on the basis of the presale each BET token is worth $0.20 USD. I suspect that when they list on the exchanges they will go for at least $1.00 and upwards.

P/S = You can use my referral code to increase your odds if you need to

Many thanks in advance if you do.

                                       Odds without reference                   Odds with reference

Link to EosBet

Update : Here is a link to a fellow Cryptonite’s experience with EosBet. Warning to those without self control. This seems a legit experience. Points to note

  1.  Never gambled much before
  2. Lost back all of gains and then some

You can’t win betting against a computer. With a house rake of 1.35% the certainty is that in the long run you lose to the house at 1.35% per roll.

Always worry when you bet against a computer. You do not know if your bets are being tracked. If they are you will never stand a chance. Contrast this to a roulette pool where everybody bets over a roll say every 3 minutes. The house still rake in 1.35% per roll but you at least know that there is less likelihood of your bets being tracked.

In this instance however look upon it as purchasing BET tokens. Will they have a value in future – YES. How much? That depends. Much of the gambling here now is to gain BET tokens and even at that there are only around 500 players over a 24 hour period. Perhaps they will gain more players over time. One thing for sure, the world will never run out of gamblers, alcoholics or sex-addicts. Porn on EOS must be next!

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    1. Todd

      The referral bonus doesn’t actually affect your odds of winning. If you set the slider at 50, you will only win if you get numbers 1-49 (if it hits 50 you lose). The referral increases the amount paid out to you if you win. Look in the articles side by side pics, the pay out for no referral is 1.9999, and w/ referral it is 2.0101. Not a big difference but every little bit helps!

  1. phanpp Post author

    Thanks. It increases the expected returns which is what gambling is all about. Instead of your winning horse paying $10 say another broker gives you $10.10 if you got a recommendation from a friend to use his services. The seller just decided o take a little less profit for the promotion.