02 Mar Edgeless Vs DBET
Edgeless vs. Decent.Bet
This report will look at Edgeless and Decent.Bet, two platforms designed for the purpose of decentralized online gambling. Both will offer the usual casino games as well as sports betting. However, they have some key differences which we’ll discuss in detail. It’s also worth noting that online gambling is one of the few recent things to be put on a blockchain where the application really makes sense. It allows for a transparent house, something that is severely lacking in the online gambling industry where it is exceptionally easy for sites to rip off their patrons.
Edgeless has the selling point of having no house edge. Each game is set up such that the house has no edge over the player. In most cases, this comes in the form of a bonus given to the player in order to give them an advantage they normally wouldn’t have. This means that the house does not have a statistical edge over the player. It also doesn’t mean the house will not see a profit; players’ poor decisions and a concept known as gambler’s ruin will ensure the house stays solvent. Gambler’s ruin means that a player with a small pot will always lose to a player with a very large pot. This is because the person with the larger pot can shoulder larger losses without being bankrupted. If the player with the smaller pot continues playing, they will always lose to the player with the larger pot. Edgeless will also offer a lottery where each month 40% of the house profits are pooled and EDG token holders can compete for the prize pool.
Edgeless’s native token is EDG. Just under 80% of its volume is traded on Upbit and Bittrex. It has a total supply of 132 million and a circulating supply of 82 million. It has an average volume of around 1 million USD and a market cap of 75 million USD.
Q2-2017: Edgeless lounge goes live
Q3-2017: Blackjack goes live
Q4-2017: Video Poker goes live (The deadline for this was missed)
Q1-2018: Dice goes live
Q2-2018: Sports betting goes live
Q1-2019: Casino platform for developers goes live
Co-Founder, Blockchain Developer
Ignas has a degree in Information Systems Engineering from Vilnius Gediminas Technical University. He co-founded Timber Cabins, a manufacturing company, in 2008 and worked there until 2014. He is also the Co-Founder and CTO of Gosavy.com. It’s worth noting that Edgeless and Etherslots are not listed on his LinkedIn; this seems to be an indication that these projects are not a main priority for him.
Co-Founder, Professional Gambler
Tomas has a Bachelor’s degree in International Business and Communication from the ISM University of Management and Economics. He has approximately 6 years of experience in Marketing, Marketing Funnels, and Design.
Co-Founder Business Operations
Tomas has a Bachelor’s in Business Administration and Management from Vilnius University. He founded two different clothing companies, where he worked for approximately three years. He founded a development firm and served as its CEO. He has also worked as a marketing manager for SAVY.
Decent.Bet has quite a bit going for it. Its ICO had a lot of attention thanks to some well-known members of its team and raised about 7 times as much as the Edgeless ICO. Their team is also much stronger. DBET will also allow people to stake into the casino and share in its profits. In turn, they receive a portion of the proceeds at the end of each session (approximately every three months). DBET also does most of the work off-chain. With the current scalability problems of Ethereum, this makes quite a bit of sense. DBET will also offer custom house solutions to other groups looking to run an online casino. Overall, the project seems much more professionally put together than Edgeless in terms of the team, website, and whitepaper.
Decent.Bet’s native token is DBET, 98% of its volume is traded on Cryptopia. It’s also available on HitBTC and YoBit. As of the publication of this report, it has a market cap of just under 15 million USD and a 24h volume of $40,000.
Q4-2017: Testnet Releases for Slots, House, Sportsbetting, and wallet
Q1-2018: Mainnet release for Slots, House, and Sportsbetting, Intial House Buyout starts, Android App Release
Q2-2018: First Profit Distribution, Craps testnet release, Cryptocurrency Price Betting, iOS app release
Q3-2018: Craps mainnet release, House Management module, and first custom house shares buyout.
Q4:2018: First Custom house sale, Custom House initiation, Roulette Testnet release.
CEO & Founder
Jedidiah studied Business Management at the University of San Francisco. He worked as an Associate at Jericho Capital Corporation for 5 years. He co-founded Veterans Ink and Caliber technologies in 2010, serving as the CEO of the latter for five years.
Senior Director of Technology
Adrian has a Ph.D. in mathematics specializing in Nonlinear Optimization from Rensselaer Polytechnic. He has worked as a developer for Hewlett-Packard, Charles Schwab, and Bank of America. He was a founding Investor of Napster and an advisor of Plaxo. He has served as the CEO of Ryze since 2001 and the CTO of CoderBuddy since 2009.
VP of Community Relations
Rev studied Aerospace Engineering in college. He is well known in the crypto community and is very involved in the community. He also started trading forex at age 16.
VP of Operations
Kurt has a diploma in Occupational Health and Safety from Nebosh. He has nearly 10 years experience as an advisor to the oil and gas industry, with companies such as Chevron and Conoco Phillips.
|Custom Houses||X||(The ICO didn’t raise enough for this feature to be implemented, although ETH has skyrocketed in USD value)|
|Staking Into The House||X||X|
|House has no statistical advantage over the player||X|
|Cryptocurrency price betting||X|