The Evolution Of Casinos – Next Generation Transparent Ethereum Smart Contracts Based Casino “Edgeless”

This is quite simply the worst ICO I have ever seen.

In the first place, only 20% of all raised funds from the ICO is sent to the casino. The remaining 80% is gone forever.

The 20% then earns supposedly earns money via a house edge of 0% and a prayer.

Then, only 40% of those earnings are shared to token holders, of which, 12% is sent to Edgeless, meaning actually only 28% is shared to token holders.

Edgeless claim that player mistakes will create the edge. Importantly though, what Edgeless fail to realize is that the player mistakes numbers and statistics are based on real world casinos, where people can not look up the best decision to make.

Players sitting in front of a computer can simply Google the best choice to make in a Blackjack hand. In fact, players behind a computer can flip the edge to be in their favor by about ~2% using perfect basic strategy, a simple formula created by MIT for placing bets in Blackjack. That is for a normal game of Blackjack which generally has a house edge of about the same.

Assume a house edge of 0%, and players can flip the house edge to their advantage using perfect basic strategy to about 5%.

You bet your ass people will be playing perfect basic strategy against Edgeless, and not only that, it won't just be 'basic strategy' as in, "oh, i think this is the best decision, but i can't really remember, because I am in a live casino", it will be "oh, let me google the best decision, or use my bot".

Boom. The Edgeless house edge is now negative 4-5%.

This is a joke.

/r/ethtrader Thread Link - the-blockchain.com