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FAQ
How Edgeless Casino Can Be Profitable Business with 0% edge?
Casino profits and 0% (0.83% in practise) house edge concept.
There are several ways how Edgeless Casino can be profitable. Edgeless Casino provides games which depend on LUCK+SKILL and Sports Betting.
The first two games provided will be Blackjack and Video Poker. Both games are played with a combination of LUCK and SKILL. That means players make choices and either play well or poorly. To give an example of such a situation:
Blackjack:
House has a 6 card.
The player has 16.
The player wants to collect at least 17 and hits for one more card. - BAD MISTAKE.
The player just made a huge error, because, 12+ against 6 ALWAYS STAYS. (according to Blackjack basic strategy)
An average player does not play ‘the perfect game’ therefore, in the long run the casino makes a profit from his mistakes.
An analogy can be taken from poker. A new player is playing against a Pro. Both have equal probability conditions - 50% vs. 50%. However, the Pro player makes better choices and the new player makes bad decisions, and in the long run, the Pro wins.
Look at this EXTENSIVE RESEARCH from players’ mistakes in Blackjack - on average they give away an 0.83% edge to the casino. https://wizardofodds.com/image/ask-the-wizard/how-poor-are-bj-players.pdf
And that's exactly what the casino will earn - 0.83% which is the same as playing dice with an 0.83% house edge
The second stream of profit comes from sports betting. Sports Betting connects bettors against each other, charging vig / juice / rake from each side for their bets. In this area, the casino will earn 4% from all money wagered. An analogy can again be taken from poker. Imagine two players are betting 10$ against each other and the rake is 1%. So, they are actually betting 9.90$ and winner gets 19.80$.
More information on how sports betting is making money: http://www.biasharainsight.com/2016/01/how-do-sport-betting-sites-make-money/
To sum up - the first stream of profits is from games of luck+skill. The second stream of profits is from Edgeless casino with 0% edge games and is a very strong marketing channel for attracting players to Edgeless Casino. Gamblers can enjoy fair betting conditions, and a good percentage of visitors will do Sports Betting which generates 4% returns to the Casino.
The concept has not literally come out of the blue - discussions on zero edge casinos are already occurring in the community.
https://www.bitedge.co/blog/0-house-edge-provably-fair-and-trustless-gambling/
https://www.reddit.com/r/BitcoinGambling/comments/36z3wi/which_is_the_lowest_house_edge_fair_bitcoin_casino/
Who is "Frank Lefty Rosenthal" who is trolling Edgeless announcement thread?
To be honest, we have no idea who he is, nor do we have any connection with this person. It seems that he immediately began spamming Edgeless thread with comments from the first minute following the announcement. He is creating a huge amount of trolling without any logical argumentation. Right now we think it’s a competitor who is afraid of losing a share in the casino industry.
Moderators were contacted regarding his behaviour - however, trolling is not ‘forbidden’ on this forum. Therefore we would suggest not taking him seriously or paying any attention to his trolling attempts._______________________________________________________________________________________________________________________________________________
Edgeless Bounty Programs:
Earn EDG tokens by participating in EDGELESS bounty program There are 10 000 000 EDG tokens provided for Edgeless Bounty Program
The Crowdsale price for EDG token: 1000 EDG = 1 ETH
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Twitter bounty programTotal bounty reward amount available for Twitter - 1 500 000 EDG (equivalent to 1 500 ETH)
Never miss any of our updates! Follow us on Twitter for our latest insights and retweet our news to your group, friends and followers.
Follow us on Twitter: 20 stakes per week
For Every retweet or mention you will get:
- 10 stakes for 100 - 300 followers Twitter account
- 30 stakes for under 1000 followers Twitter account
- 50 sakes for 1000 or more followers Twitter account
Sign up for Twitter bounty on Edgeless.io
This bounty program will close after achieving the maximum amount or the ICO of Edgeless will be ended._______________________________________________________________________________________________________________________________________________
Facebook bounty program
Total bounty reward amount available for Facebook - 1 500 000 EDG (equivalent to 1 500 ETH)
We will post all blog/ news articles, insights, updates of Edgeless Casino and Upcoming ICO. Every like counts, so be sure to join to get a part of our Facebook bounty.
Like our Facebook page for stakes to count.
- Every post (text / image / video, link) like: 10 stakes
- Comment (at least 30 characters per comment): 20 stakes
- Public share of any post: 30 stakes
Sign up for Facebook bounty on Edgeless.io
This bounty program will close after achieving the maximum amount or the ICO of Edgeless will be ended._______________________________________________________________________________________________________________________________________________
Blog/ News article bounty programTotal bounty reward amount available for Blogs/ News bounty - 2 000 000 EDG (equivalent to 2 000 ETH)
A blog or news websites that counts for bounties must:
- be in English, Chinese, Russian, Spanish languages
- or any language for blogs with 300+ followers
- contain only unique content
- publicly accessible
- 700 characters or more without spaces
- contain at least 2 links to https://edgeless.io
Once you write a Blog post, submit URL to: http://bit.ly/2k84Hdv
Provided blogs will be DIVIDED into THREE QUALITY CATEGORIES in order to reward those participants who invested more EFFORT into their blogs:
Basic = 10 stakes
Medium = 30 stakes
Extraordinary = 60 stakes
If a blog/ article is mentioning anything about a crowdsale, disclaimer must be used: "US citizens are not legally allowed to participate in Edgeless Project crowdsale"
All accepted blog posts will be listed there: http://bit.ly/2inNpJc
This bounty program will close after achieving the maximum amount or the ICO of Edgeless will be ended._______________________________________________________________________________________________________________________________________________
Translation and local community managementTotal bounty reward amount available for Blogs/ News bounty - 2 000 000 EDG (equivalent to 2 000 ETH)
Earn bounty stakes of quality translation and local community management. If our Bitcointalk ANN hasn’t been translated into one of the listed languages yet, you are welcome to contribute with your own translation and earn a stake in return. Please contact us on Bitcointalk or [email protected] to confirm and reserve your translation. You will also receive additional stakes for each post you get in the thread of your translation.
This bounty is ideal for professional translators on Bitcointalk
- The translation must be of a high quality - not done using google translate.
- The translation should be easily understood by anyone, not to technical or too literal.
Translators must also be able to manage their local communities: Community support and answering questions in translated ANN thread till the end of ICO. In our slack it will be a private chat for local community managers where we will help you with answering any question for your local community.
Translation:
- Website (100 stakes)
- White Paper (250 stakes)
- Bitcointalk ANN (with new thread in Local community) (100 stakes)
- Blog posts (30 stakes)
Moderation:
- Get 5 stakes for every post in your thread
List of needed translations: http://bit.ly/2juOjQY
Interested translators contact us on Bitcointalk or [email protected] with an example of your prior works
This bounty program will close after achieving the maximum amount or the ICO of Edgeless will be ended._______________________________________________________________________________________________________________________________________________
Smart contract audit bountyTotal bounty reward amount available for smart contract audit bounty - 1 000 000 EDG (equivalent to 1 000 ETH)
EDGELESS Crowdsale smart contract and EDG Tokens ERC20 smart contract are uploaded on the git hub:
https://github.com/EdgelessCasino/Smart-Contracts
Register to the audit bounty program here: http://bit.ly/2jTRJwA
In order to add an additional layer of security, smart contract audit bounty is created. If you find any security flaw, mistake or loops potential for smart contract vulnerability let us know. For each loop found in the contract - you will be granted with 100 stakes._______________________________________________________________________________________________________________________________________________
Bitcointalk signature and avatar bountyTotal bounty reward amount available for signature bounty - 2 000 000 EDG (equivalent to 2 000 ETH)
Terms:
1) The whole bounty pool (2 000 000 EDG) will be divided among the participants proportionally to the amount of their stakes.
2) Users have to register to signature bounty program and wear the official avatar in order to participate in Signature bounty program
3) The stakes will be distributed weekly to the participants
4) Users are not allowed to change their signature in the middle of the campaign
5) All members need to post at least 40 posts wearing the signature by the time the ICO ends to be eligible for a reward.
6) Spam is strictly prohibited. Users found spamming will be immediately and permanently disqualified, reported to the moderators, and banned from any other bounty campaign. Multiple accounts from the same person are not allowed!!!
In order to provide a fair bounty distribution, register with this form http://bit.ly/2iXTjzg
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Signature for Member and Jr. Member. 30 stakes per week
Signature preview:
[center][b]EDGELESS.IO — New Era Of Casino [/b] || [url=http://edgeless.io][b]ICO[/b][/url] || [b][url=http://bit.ly/2iZN12A]DISCUSSION[/url][/b][/center] _______________________________________________________________________________________________________________________________________________
Signature for Full member. 50 stakes per week
Signature preview:
[center][b][url=http://edgeless.io][color=navy]EDGELESS.IO - New Era Of Casino (0% Edge And Full Transparency)[/color][/url][/b]
[url=http://edgeless.io][b][color=black]ICO[/color][/b][/url] || [b][url=http://bit.ly/2iZN12A][color=black]DISCUSSION[/color][/url][/b][/center]
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Signature for Sr. Member, Hero or Legendary. 80 stakes per week
Signature preview:
[center][table][td] [size=24pt][b][url=https://www.edgeless.io/][color=navy]EDGELESS.IO[/color][/url][/b][/size][/td] [td][b] [size=12pt]New Era Of Casino (0% Edge And Full Transparency)[/size][/b]
[b] [url=https://www.edgeless.io/][size=12pt][color=green]JOIN THE ICO[/size][/url] | [url=http://bit.ly/2iZN12A][size=12pt][color=green]JOIN THE DISCUSSION[/color][/size][/url][/b][/td] [/tr] [/table][/center]_______________________________________________________________________________________________________________________________________________
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Disclaimer: This ANN is not for US residents, US residents will not be able to participate in Edgeless Crowdsale
Disclaimer: I'm not a project team member or anyhow related with this project. All responsibility belongs to the project’s team members
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