The introduction of decentralized applications (dApps), is one of the many ways blockchain technology is reshaping the world we live in. These relatively new apps run on decentralized networks, which mean they are designed to avoid any single point of failure. Moreover, in many cases, they offer users a chance to earn and/or win digital currency.
One of the easiest and most straightforward ways to win cryptocurrency is through the use of gambling dApps.
Whatever form is taken, be it online or in person, betting is a pastime that has long captivated the masses. It is also a big hit with those who use decentralized applications. In fact, many of the most popular dApps around can be found in the gambling category. Today, we are about to take a look at some of the most talked about gambling dApps available.
Billed as the “highest-yielding profit-sharing game on EOS”: Endless Dice is the most popular gambling dApp around, at press time.
To use this popular dApp, one must have Scatter software installed on their device and an EOS account. EOS, ET, and TOP are the three types of crypto that can be used to place bets. There are also daily dividend pools for each of the three currencies – with the winnings being shared amongst users.
To play, gamblers select the amount they wish to wager, choose a number between 3 -96, then roll the digital dice.
To win, the number a player rolls must be smaller than the number they selected. Those who chose smaller numbers will receive larger payouts. For example, if a user selects the number 3, they can only win if they roll a 1 or 2 out of 100 possible numbers. However, if they are successful, the 3 pick pays out 49 times the initial wager.
Endless Dice also claims to provide “provable fairness.” According to their official site, “The fairness is guaranteed by cryptography and smart contracts. But you don’t need to be an expert of these disciplines to find out, as a handy verification tool is provided at the conclusion of every game to ensure you’re never cheated.”
Those who wish to try the application must be at least 18 years of age and cannot be from the United States, North Korea, or Mainland China.
Ninja Predictions is an Ethereum-based dApp that allows users to bet on just about anything. Folks can bet on sports, politics, and even cryptocurrency price movements using this application.
Its purpose is to allow parties to wager directly without the need for a middleman. In other words, with Ninja Predictions, bookies and oddsmakers aren’t required. Through the use of blockchain tech, these bets remain anonymous and there nothing to download or sign up for in order to participate.
To play, users can weigh in on debates started by others or post their own topic, then select the amount they wish to wager.
“All user funds are held in Escrow, powered by smart contract technology. Winnings are automatically distributed.”
The fully decentralized sports and esports betting platform, known as Oxgame, boasts “unbeatable odds without fees.”
“0xgame uses the Ethereum blockchain to allow bets to be placed and winnings distributed in ETH, meaning all transactions are transparent, secure and verifiable.”
For all sports and eSports data, 0xgame uses the decentralized oracle, Verity. This supplies 0xgame with verified information, allowing bets to be automatically resolved and winnings to be claimed within minutes of the final whistle.”
Instead of betting against bookmakers, as is the case with most sports wagering platforms, the application uses pool betting. Pool betting means users will be wagering against other people instead of an oddsmaker.
Oxgame was created by a blockchain developer named Edward Thorp. His goal was to create a dApp that eliminated the things he didn’t like about traditional gambling sites – like delayed payouts and having to give the house a portion of your winnings.
The application is a nonprofit that requires no registration and uses blockchain technology to ensure that all bets are transparent a verifiable.
BingoBet – Roulette & Dice
Roulette has long been of the most popular casino games in the world. BingoBet – Roulette & Dice is doing its part to make roulette one of the most popular games on the EOS blockchain as well.
The dApp essentially offers users an opportunity to play one of their favorite games with up to 6 additional players at the digital table. This table is overseen by a lifelike dealer who smiles and winks at folks, while they wager their EOS or BINGO tokens. The dealer is certainly an interesting feature – though it does kind of make it feel like someone’s watching you.
The game itself is fairly straightforward – simply place your bet and wait for the wheel to spin.
An effort to gain more users, the platform has a referral program that rewards player who “get 10% of the house edge on all their wagers,” when they refer a friend.
BingoBet, the author’s behind this decentralized version of roulette, also have their own dice game – hence the name “Roulette & Dice.”
If there was an award for most unique gambling dApp on the Ethereum blockchain, FortunePandas would be a stronger contender.
In FortunePandas, players are tasked with having to save digital pandas from the grasp of the Dark Wizard.
To play, users can purchase their own pandas and become “Panda Masters” – thus saving the cuddly creatures from extinction (aka the Dark Wizard). Once a panda is purchased, the object is to feed it bamboo (which can be purchased with ETH), until it’s full. Keep in mind; users don’t have to be the Panda Master in order to feed a particular bear.
Once a panda is full, a “fed full lucky draw” will take place, in which all keepers (the folks who fed the bear) have a chance to win the jackpot and some consolation prizes in the form of ETH.
The prizes are distributed as follows:
“Of the whole stake, 60% will be awarded to a jackpot winner, 20% will go to Panda Master, 10% to Consolation prize and 10% to all FPC holders.”
The total amount given away will be the panda’s original purchase price – so if the creature was bought for 100 ETH, the jackpot winner would get 60 and so on. This mean feeding expensive pandas gives users a chance to win larger jackpots.
There are a total 2,000 pandas in the game; if no one buys a particular bear, it becomes permanently extinct – which decreases the total number available for purchase.
Pandas can also be sold by their masters, via auction.
The dApp is “based on ERC20 Smart Contract System” to ensure everyone will have a fair chance to win.
Moreover, according to their site:
“FortunePandas plan to work for the betterment of endangered pandas. We are enlightening the individuals of the rarity of endangered species and the yield they would produce if saved from extinction.”