Blockchain-Based Casino ZeroEdge.Bet Launches ICO to Revolutionize Gambling Industry
| Updated by Sofiko Abeslamidze · 3 min read
In its attempt to revolutionize online gambling, ZeroEdge.Bet becomes the first to offer players 0% house edge casino games, fee-free sports betting and an open source platform for building online games.
From a huge chunk of boost to an ongoing onslaught of criticism, 2017 indeed was a memorable year for the cryptocurrency front. Bitcoin and other altcoins have seen a significant growth and a wider adoption while numerous projects have raised millions of dollars in capital via Initial Coin Offerings (ICO).
Some call this crypto mainstreaming the future of fiat money while others call it a bubble. Whichever it turns out to be in the end, the recent upsurge in Bitcoin’s price and the whole crypto market suggests that it isn’t going anywhere soon.
There is no doubt that we are in times of a present-day Gold Rush and nobody wants to miss out on the extraordinary returns if products hit critical mass and investors get in early. So the question is which sectors are likely to come out winners in 2018? Answer: you can‘t go wrong with gambling.
In 2013 just over 50% of all bitcoin transactions were related to gambling. Moreover, since 2014, roughly 3.7 million BTC has been wagered equating to $37 billion USD at the time of writing. The crypto gambling market size is constantly growing but it is only a tip of the iceberg compared to the global online gambling industry. One upcoming ICO is seeking to disrupt the industry by taking a new approach to gambling while offering new opportunities.
ZeroEdge.Bet is a new type of a blockchain-based online casino, which business model revolves around its cryptocurrency’s value growth unlike traditional model, where the cash flow is generated only from casino’s games. As a result, all casino games at ZeroEdge.Bet are with 0% house edge, meaning players have just as much chance of winning as the house does.
The advanced casino will also offer a first ever 0% commission sports betting exchange, where players can choose to bet on a multitude of different leagues and sports. Additionally ZeroEdge.Bet is going to provide users with an open source platform for building online games.
As incentive Adrian Casey, CEO of Zero Edge, defines the main problem of online gambling industry – a purely profit-driven mechanism, where players are required to pay for participation. To make playing “free”, the team at Zero Edge has developed a closed loop economy with its own token purchasable with fiat or crypto. This simple feature makes Zero Edge model work.
Zero Edge Casino’s cryptocurrency named ZERO is used to perform all betting on the platform. The supply of ZERO tokens is fixed, and according to the basic principles of Metcalfe’s Law, as demand and adoption of ZERO token grows, so does its value. Therefore, ZERO token does not only perform certain functions on the platform, but, owing to its design, also presents itself as a viable long-term investment.
On November 25th, 2017, ZeroEdge.Bet had its first official introduction during Blockchain Summit Kyiv 2017. Then the team shed a light on the current online gambling market and the ways blockchain and smart contracts could be utilized to create a more sociably responsible, sustainable and efficient gambling environment for both players and gambling providers.
ZeroEdge will be holding its early Initial Coin Offering (ICO) this month, in the framework of which the public will be offered to purchase an initial supply of ZERO tokens for a discounted price. At the press time more than 8,000 users have already joined the PRE-ICO whitelist to secure their place in company’s investment phase.
Sofiko is a freelance fintech copywriter at Coinspeaker.
With a Bachelor degree in International Business and Economics, Sofiko has been deepening her knowledge of an agile innovative industry primary focusing on the robust blockchain technology and cryptocurrencies. As a bank employee, Sofiko particularly keens on crypto and blockchain integration into the established banking systems.