Publish: 21.09.2017

EthBet Dice Launches

The idea is to use the Ethereum blockchain — which is by definition decentralized — in order to offer players a traditional (yet virtual) game of dice.

Cryptocurrency continues to be the hottest thing going right now in the online casino space, leading innovation in countless ways.

The latest of them comes in the form of decentralized or “peer-to-peer” games that allow players to play against one another without any house edge or rake:

The model is already being explored in games such as poker. However, new online gaming startup EthBet is looking to take the concept to one of the most pure gambling games there is — dice.

Uses Ethereum Blockchain

The idea is to use the Ethereum blockchain — which is by definition decentralized — in order to offer players a traditional (yet virtual) game of dice.

As with all games on the platform, EthBet would not require players to make a traditional “deposit,” but rather would simply transfer money between players. This lack of payment processing will allow EthBet to keep costs and regulatory concerns as low as possible:

“Ethbet’s role is to mediate bets. One simple analogy is that Ethbet is like an exchange, except instead of users agreeing to trade an asset at a certain price, they are agreeing to gamble a certain asset with certain rules,” the company said in a statement on its Medium blog.

Token Crowdsale Offered

To help launch the new platform, EthBet will be holding a token crowd sale from September 17, with day 1 investors receiving 50% in additional tokens. The idea is to reward those who are willing to take to the platform early, with the hope that a large amount of early-adoption will lead to larger success later on.

Another incentive for early adopters is the ability to have a say in the early decision making of the company as well as the direction moving forward:

“[early investors will have a say about] Ethbet’s cut of its optional player-defined house edge should be or what future projects Ethbet should pursue, allowing them to steer the platform in the direction that is most profitable,” the company said.