Edgeless Beta Staking

There are a few startups using tokens built on the Ethereum blockchain trying to develop crypto-gambling sites. I've been keeping an eye on them for the past year or so. I was turned off of Edgeless because they claim their Blackjack game has a 0% edge, but I get it at 0.02%.

Now they're offering token holders the opportunity to stake the games, as explained in this blog post: https://www.edgeless.io/blog/edgeless-beta-staking-is-now-live

What are peoples thoughts? Banking games is something I've always been interested in, but in this case instead of using a currency it's done using an asset which is extremely volatile. So even if banking the game sees a healthy return, the banker could still take a loss if the price of the token falls.

Quote: blackjacklad

There are a few startups using tokens built on the Ethereum blockchain trying to develop crypto-gambling sites. I've been keeping an eye on them for the past year or so. I was turned off of Edgeless because they claim their Blackjack game has a 0% edge, but I get it at 0.02%.

Now they're offering token holders the opportunity to stake the games, as explained in this blog post: https://www.edgeless.io/blog/edgeless-beta-staking-is-now-live

What are peoples thoughts? Banking games is something I've always been interested in, but in this case instead of using a currency it's done using an asset which is extremely volatile. So even if banking the game sees a healthy return, the banker could still take a loss if the price of the token falls.

As with all things Blockchain, I'd be wary of anything that involves "lodge your currency with us so we can do the admin". Is this such a scheme?
If you are banking a game, then you need your bankroll to be >> the opponent's bankroll, otherwise you stand massive probability of getting crushed by a progressive. House edge won't help you if the other guy has the fire-power to out bet you.

Not open to U.S. citizens.

Quote: blackjacklad

There are a few startups using tokens built on the Ethereum blockchain trying to develop crypto-gambling sites. I've been keeping an eye on them for the past year or so. I was turned off of Edgeless because they claim their Blackjack game has a 0% edge, but I get it at 0.02%.

Now they're offering token holders the opportunity to stake the games, as explained in this blog post: https://www.edgeless.io/blog/edgeless-beta-staking-is-now-live

What are peoples thoughts? Banking games is something I've always been interested in, but in this case instead of using a currency it's done using an asset which is extremely volatile. So even if banking the game sees a healthy return, the banker could still take a loss if the price of the token falls.

Run far away!


ZCore13

It looks like Edgeless works by people who have bought Edgeless tokens staking them as the bank for a month. At the end of the month, if overall the bank is in profit, each staker gets their tokens back with 5% of the overall profit.

They don't have any jackpots, the games are very simple. I'm not sure who would actually bother playing on these sites - it's a lot of hassle compared to normal online casinos.

I expect as Blockchain speeds improve and become as fast as non-blockchain systems then they will be used for all online gambling, however right not it doesn't feel like the speed and the ease-of-access is quite there yet. Interesting to keep an eye on though.