Category Archives: EOSbet

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EOSBet Launches Decentraliseded Account System and Bitcoin Betting

EOSbet

Online gambling is one of many industries pushing the use of blockchain technology further into the mainstream, with new companies in the lucrative (think multi-billion dollar) sector embracing decentralisation, and offering services that previously didn’t exist.

Enter EOSBet, which at the end of last year became the first on-chain blockchain casino to be granted a gambling licence. As if that wasn’t enough, EOSBet has hit the ground running by releasing an innovative decentralised account system and introducing bitcoin betting. An announcement regarding these devolopments came last week in Willemstad, Curacao.

EOSBet Decentralised Account System

Using blockchain technology for transactions generally requires the user to set up a cryptocurrency wallet. In addition, the effort of actually acquiring cryptocurrency in the first place acts as an entry barrier for people who may otherwise be interested in getting involved.

Hoping to change this situation the team at EOSBet have developed a system which allows the user to deposit funds from any source and place bets – all without the need for a wallet or 3rd party software. All transaction costs are covered by the system, leaving players free to enjoy a decentralised casino just as they would the traditional variety.

All aspects of the EOSBet platform are decentralised and fully on-chain, with all actions permanently recorded on the EOS blockchain and able to be viewed on any block explorer. The system also has the advantage of being non-custodial, meaning players retain sole and total control over their crypto funds.

Ease of Use

EOSBet’s system has been geared towards non-technical gamblers, with a quick and easy sign-up process that is more user-friendly than many traditional online gambling sites. This means that non-EOS account holders can place secure bets with ease and take advantage of EOSBet’s generous player rewards system, thereby enlarging the userbase. Just a month after launch, EOSBet boasts over 280 new users, with a total of $1.3M USD bets placed since the present developments.

Bitcoin Betting with EOSBet

EOSBet claims to be the first on-chain casino to natively accept Bitcoin, and that many more cryptocurrency options (for example, BCH, BSV, LTC, DASH, DOGE, ETH, TRON, and XRP) are planned. Again highlighting the simplicity of the system, players simply deposit BTC funds to their accounts for instant play, with the ability to withdraw at any time.

According to publicity material, BET token holders will receive dividends for life (in all currencies offered). So far, over $2M USD has been given out as part of its Player Rewards Program.

Future Plans

The EOSBET platform has further developments planned for 2019, including two new games, a leaderboard and a token distribution program.

EOSBet’s recent developments mark a major step forward in the company’s evolution and its stated goal of bringing in thousands of new players. With online gambling already enjoyed by huge numbers of players worldwide, it was only a matter of time before blockchain technology was added to the mix.

If EOSBet plays its cards right, its combination of crypto funds compatibility, fairness, solid security and ease of use could prove to be a major winner as more users are tempted to sign up to the new and decentralised casino.

To learn more about EOSBet, visit the website, chat with the team on Telegram and follow EOSBet on Twitter.

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EOSBet Obtains First On-Chain Gambling License on the EOS Blockchain

EOS

In a press release dated 30th November, first decentralized EOS-based cryptocurrency casino EOSBet announced that it is the first to be licensed as an on-chain open-source gambling site. EOSBet announced that it has successfully obtained an online certification to be an operator of a casino. This license was obtained from the world renowned online gambling regulator Curaçao eGaming. The Caribbean regulator is one of 4 and the oldest and established online gambling regulator with exclusive rights to sub-license its master gambling license which was accorded to it by the Ministry of Justice.
The EOSBet project is an EOS-based casino built as an on-chain decentralized gambling application, that allows players to gamble with their EOS tokens. Two types of games are currently available, the dice throwing game and the baccarat card game. The obtaining of the license is a huge development for the project and will help them operate within legal frameworks. EOSBet Marketing representative Frej said the following about the development of the project:

“We’ve worked relentlessly to make this license succeed and we will continue to strive to be the standard for smart casinos.”

Growing Support

So far, patronage has been growing with over USD 5 million betting volume already recorded. This has set the record as being the top-rated decentralized application on the EOS network. The solutions provided by this platform are meant to address the most fundamental problems of a centralized casino, to include slow gameplay, high fees, and unfair house advantage.

The advantages provided by the platform enables bettors to place their bets through smart contracts on the EOS blockchain, this makes it impossible for bettors to play an unfair game. Other advantages provided by the platform include instant transactions, near zero latency and zero fees.
BET Tokenomics

The native token of the platform is the BET token, which is a utility token that allows holders to earn profit-sharing. As the first ‘community-driven online casino’, allowing holders of the BET token to earn dividends from the profits being made on its platform, EOSBet positions itself as a revolutionary disruptive online gaming entity. Dividends are paid out based on the token holder’s BET balance.

A major milestone achieved by the EOSBet since its launch is having more than 70 million EOS placed as bets in just under 10 million bets. So far, in just two months of operation, USD 1 million has been paid out in dividends to holders of the BET token. To spread the word, a referral program is being run with a 0.5% reward from bettors to their referrers. There’s also the incentive to motive new members to join as 0.5% of their winning bets are also credited to their account.

With this license, EOSBet is able to operate all forms of interactive gambling. With a new game in the works almost completed, the platform is also preparing for a website overhaul. More so, the project is expanding its team, and releasing new tweaks periodically to ensure that it competes with legacy casinos out there in order to fulfill its long-term vision.

Visit the EOSBet Official Site – https://dice.eosbet.io/
Chat on Telegram – https://t.me/eosbetcasino
Follow on Twitter – https://twitter.com/eosbetcasino?lang=en
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