This week, a decentralized betting platform EOSBet has announced its official certification from one of the world’s most trusted online gambling regulators.
In the recent years, blockchain technology has been successfully implemented in a wide range of industries. Online gambling is not an exception. While being a promising industry, which, according to the forecasts, is likely to be valued at $525 billion by 2023, global online gambling sector demonstrates really high stakes.
EOSBet represents itself a decentralized betting platform based on EOS’s blockchain which enables users to enjoy their favorite casino games via a fair ecosystem and claims to be the ‘first open-source casino to obtain an online gambling license’. The platform has announced its official certification this week in Willemstad, Curacao.
EOSBet allows for instant and free betting via the EOS.io blockchain and has already won the title of ‘the world’s largest decentralized application by volume and transactions.’ The platform is based on a third-generation blockchain network and offers its users the chance to bet EOS tokens on either throwing game or a unique baccarat game.
The platform’s betting volumes already exceed $5 million USD, making it one of the highest-rated decentralized application on the EOS network. According to its developers, the platform was initially designed as a solution to three major problems of traditional centralized gambling platforms – low speed of gameplay, expensive fees and unfair house advantage.
By marrying EOSBet to the EOS.io blockchain, the system is able to to offer instant transactions with almost no latency and zero fees. EOSBet calls itself the first ‘community-driven online casino’. Holders of the platform’s native BET utility token receive instant dividends in EOS, with these dividends collected from all profits made on EOSBet. The payouts are calculated and shared out according to the number of BET a token holder owns.
In only two months after the platform’s official launch, EOSBet had reportedly paid out dividends totalling $1 million USD. The company has been working on expanding its team as well as on the platform’s structuring and licensing. EOSBet has also successfully collaborated with a few other strong players that complement the team’s vision for the future.
EOSBet has recently announced that it had gained official certification from one of the world’s longest-established and most trusted online gambling regulators, Curaçao eGaming. The license is the first one ever granted to such a company and means EOSBet is allowed to run all forms of interactive gambling. As Frej from Marketing at EOSBet commented on the project:
“We’ve worked relentlessly to make this license succeed and we will continue to strive to be the standard for smart casinos”.
To incentivize the growth of the user base, EOSBet is running a friend referral scheme by which players earn 0.5% of their referral’s bets and the referred friend is paid a 0.5% bonus on their winnings.
If EOSBet lives up to expectations, capitalizes on its early success and continues to evolve and offer online gamblers what they want, it has the potential to become a household name in the world of digital casinos. Therefore, if the platform plays its cards right, the future payout could be significant for all involved.