Ever since SatoshiDice was launched using Bitcoin, blockchain entrepreneurs have been trying to create perfectly frictionless, decentralized gambling platforms. In general, there has been a race to the bottom in the crypto gambling industry as different platforms try to out compete each other by offering increasingly lower house edge rates.
Edgeless proposes a casino business model with zero house edge (the house’s statistical advantage) for its casino games. For games where casinos have a natural edge (like Blackjack), Edgeless will adjust payouts so players earn more. Edgeless plans to earn profit solely from player error and from sports betting. The Edgeless team estimates that the actual house edge for blackjack, taking player error into account, will be approximately 0.83%.
Unlike many blockchain casinos that allow users to contribute liquidity to the bank and earn profits from wagers, Edgeless will have a centralized bank more like a traditional casino. The first 50,000 ETH earned in the crowdsale will primarily be used to fund the Edgeless Casino bank.
ICO + Token details
Sale period: February 28th, 2017 to March 21st, 2017
Token distribution date: March 21st, 2017
Minimum Investment Goal: 50,000ETH
How are funds held: Funds held by Ethereum smart contract
Token Supply: Proportional to investment, max supply is 440 million
Amount Distributed in ICO: 88% distributed directly to investors
Emission Rate: No more coins created
Alpha release date: End of 2017
How to participate: Send funds to the crowdsale address. Sale not open to US based investors.