The success of SatoshiDice, an online gambling platform functioned by Bitcoin’s cryptographic blockchain, has spurned a wave of new operators to enter the market. The fundamentals are simple – the player has to predict the outcome of a provably fair rolled dice, which in the case of SatoshiDice can be anything between 0 and 65,535. Depending on how much risk the player wants to take, they can adjust the betting parameters – for example, by hoping that the dice will fall on a number lower than 20,000. SatoshiDice was subsequently sold in 2013 to an undisclosed buyer located in Ireland for 126,315 BTC, which at the time of the sale, was worth $11.5 million. With so many established gambling platforms already available in the market, what made the Dice game so popular with the online community?
Fundamentally, gambling through blockchain mechanisms such as Ethereum provides the player with an exceptionally reliable and trustworthy foundation. The reason for this is that it is virtually impossible for the online casino to alter or amend the random generated number. Instead, online cryptocurrency dice games run on smart-contracts, which fully automate the end-to-end gambling process. Moreover, as the Ethereum blockchain is fully transparent – all betting transactions are available for public audit. Another key success of Ethereum dice games is that many of the sites do not require any form of sign up. This is a substantial contrast to traditional online casinos, who most commonly request sensitive documents such as a passport or bank statement. On the contrary, dice game players need only an Ethereum address to get started.
Players simply log on to their desired platform, send their stake to the specified address, and if they win, the funds are automatically send back to their Ethereum address. This completely alleviates the traditional method of having to open an account, deposit funds using a debit or credit card, and then having to wait days, sometimes weeks, to receive their funds back. As a result, players can gamble anonymously, without having to reveal to true identity. With dice games now one of the most popular gambling products available in the cryptocurrency arena, it is no surprise that there is a wide-range of operators to choose from. The following section will discuss three of the most established crypto dice games in the Ethereum sphere today.
Cypto-games.net are a multi-cryptocurrency online gambling website that specialize in dice games. Amongst other alt-coins, the website allows users to bet online using Ethereum in seconds. Players can adjust their pay-out rate from a low of 2x, all the way up to 9,920x, offering a great incentive to those who want to win big. Much like the aforementioned sites, Crypto-games.net permits citizens from any nation, as well as not requiring any accounts to be created. One of their greatest attributes is that the house edge on offer for their dice games is 0.8%, which is one of the lowest in the market. Moreover, Crypto-games.net also offers its players the chance to win a jackpot, which, due to the traceability of the Ethereum blockchain, offers all users an equal and fair chance of winning.
Etheroll were one of the first Ethereum dice games to take full advantage of the gambling communities’ appetite to determine their own odds. Initially funded with a $175,000 crowd offering, Etheroll have gone from strength to strength. The online Dapp allows players to bet on the outcome of a 100 sided dice. Users can essentially follow the “risk v return” ideology, insofar that they can choose odds from 1%, all the way up to 98%. Etheroll is operated through an Ethereum smart-contract, which as a result, provides its users with complete transparency, and most importantly, full confidence that the dice outcome is fair and true. Furthermore, the smart-contract features ensure than no funds are held by Etheroll, as everything is fully automated.
vDice is an online Ethereum dice gambling platform that runs exclusively on the Ethereum blockchain. Allowing players to gamble from anywhere in the world, users need only choose a number, determine their bet multipliers, and then simply wait to see if they have won. There are various odds options available, depending on the level of risk the player wants to take. Nevertheless, vDice offer a very competitive house edge of just 1.9%. Engaging with the vDice network is seamless, as the Ethereum smart-contract mechanisms mean that no account signups or deposits are required. Essentially, every bet that is made, whether a winner or loser, will return a transparently viewable transaction on the blockchain.