Topic: Need opinion about Decentralized Gambling and Profit Sharing - page 2. (Read 446 times)

I think that over time you will gain more experience in finding the right solutions

I do not think any project making use of EOS block chain should be termed as decentralized project.
Profit sharing is what most of this new projects will begin with but it might not continue for a longtime.

Just be careful as I see that this is a new project, it can fail if they do start experiencing financial challenges or maybe they don’t get  enough people who pick interest in the project but from the followers they have i would say they have a good prospect and its likely to be successful.

I understand those who are skeptical about profit sharing. Yeah, it sounds too scammy.

However, with the correct smart contract implementations, we don't have to trust the 3rd party to secure the bankroll and distribute the profits. I imagine the world of decentralized casinos that run on top of smart contracts, without having to rely on human's integrity at all.

Maybe it's only a gambler's wet dream.

Its new to me and it can become a successful in the future if they are able to attract gamblers so its hard to say if this is going to be a next big thing or what. If you are new in gambling then better to use the top gambling site just like what’s on your signature, its worth the risk i guess.

I do not understand why the crypto world is avoiding the use of biometrics linked with online reputation scores to checkmate scammers . It does not make sense.
I understand they want crypto to be  anonymous and privacy friendly,.. I believe anonymity/privacy can  be achieved on blockchain with biometrics in a creative way.
It is really sad to see good projects dying off because of mere scammers

Investing in these platforms is like picking up pennies in front of a freight train.  There is a high chance they will just steal your coins in the end and investing in a casino with a very small house edge wouldn't even be worth your time.  There are much better things to invest in to get a higher return.

For EOS I think its permanent I don't know about tron but they do have a lot of gambling dapps indeed. EOS has free transaction fee which is why its very much attractive so house are making it great for their investors.

I don't know since it's a new type of gambling and perhaps, there will be gamblers that would try the games using EOS and TRON. And besides that, I think it could be the next big thing in the gambling business because when the new thing is invented, it could affect the other or the old business so that the old business can try to use the new things.

And if it gets success, then I think there will be many new gambling websites which use the same platform, and it will make people want to use the trend to make money.

I think there will be so many possibilities for gambling dApps to grow more than now if it fits what people want in this year so the new trend will come.

If the profit sharing is related to crypto payments, then there should be delayed payments and most of the casino's see to that they are sharing the profits only when the exchange rates are high so that they have very less to pay for the people who hold these tokens/coins. These are completely based on my understanding of the centralized platforms since they are very much clear in their idea of fooling the gamblers and has a possibility of playing in the life of gamblers more clearly.

Decentralized platforms too are risky since the profit sharing are based on the code of smart contract. If they were thinking to induce a script in their smart contract code which makes the earnings low then that should be a newer problem from them. Introduction of Gambling tokens along with the platforms were quite popular during the bitcoin peak and most of these tokens were based on the Ethereum, Tron and other decentralized platforms. But there is a strong belief among the investors and Gamblers that Game of Chances and iGaming platforms will play a major role in future gambling market.


There aren't much developers who are interested in Gambling and similarly Gamblers are not interested in the Development. Hence gamblers have a blind belief that, those smart contracts written are good and they go by the way they are "Provably Fair" and would increase their gains.

Not just to point them out, but the gamblers should not trust the smart contracts unless and otherwise the sites they are playing are proven trustworthy. Control of repositories too play a major role if these gambling platforms have their own coins and they are based on smart contracts. At the start of 2018, we have seen that Oyster Pearl token had its peak of $4 per token, but the core developer of the token exploited the smart contract and generated coins out of thin air and dumped them in a exchange certainly destroying the whole coin. The negative aspect of the Oyster Pearl was that most of it's core developers were anonymous, hence finding them out was near impossible.

Hence, anonymity and decentralization are one among the core factors in proving that the gambling site works as planned/can be trusted or not/can we beleive their profit sharing facts?

Those are just hype and will die off sooner than you think. As you can see, majority of the project listed aren't that old enough to be considered trustworthy. Beside I don't consider any project making use of the EOS blockchain as a decentralized project. The EOS blockchain doesn't just fit my definition of a decentralized blockchain.

I guess no .  big gamblers are mainly matured or older people and they usually hang out on casinos ( offline ones )  they use fiats not bitcoins .


Given the name eos and tron , for sure that they mainly use those crypto coins instead of bitcoins because bitcoins is already on the mainstream side while eos and tron are both starters .


Gamblng is indeed popular for all the people not just for older ones but also for the millenials but there are different kinds of gambling games not just provably fair . betting with crypto is cool because its online , its fast , aside from being anonymous .

Personally, I think a lot of the big gamblers are major Bitcoin users. They like gambling, they liked provably fair and they liked the idea of being anonymous,,, which is why Bitcoin was so appealing for them as a form of currency that allowed them to retain their privacy.

If EOS and TRON can do the same for them, and somehow also allow them to still use Bitcoin, cross bridging, then they can be successful. Purely as gambling currency and dapps, too much competition for success. My opinion only.

It's hard to invest expecting a consistent profit on a platform for long term.
This market is still young and no regulation that will control, so there is a possibility that due to bad market condition, the project will fail.
I am more confident with a traditional way of investing in a gambling site now, like bankroll investment and I am not really looking for big profit
as I know it's not gonna work easy.

Honestly, I would just choose to buy major coins, of course BTC and just hold it than risk my money in a platform that is not yet proven.

Not something that I would get into unless you're knowledgeable about the code behind it, the developers, and the companies which are pushing it. If you're not personally able to audit the process (or at least find someone you can personally trust with your money to audit it) then I think you should be avoiding this system. You're setting yourself up to lose money by means of decit, and that's not something anyone wants to see.

That's not even touching the fact that I think most of these altcoins are shitcoins and the 'gambling' ecosystem which is present on them is just an attempt at gaining clout. Bitcoin is the only coin which will REALLY be used for gambling (I guess alongside XMR for privacy) Everything else is just a shitcoin.

no thats not true  . gambling house does not win at all time because sometimes the players also wins alot  . i witnessed a couple of gambling sites that got bankrupt  , so how  can you say that house always wins ?  and if house always wins then why would think that there are still gamblers that plays gambling . ? not all gamblers are playing for fun  , most gamblers are playing for profit  .


i dont think that those are only hype  . sure it can die soon if people wont get interested or if the platform experience a financial issues but all of us heard and see that eos/tron do also have a potential and they already got alot of followers  .

So "waiting" is the consensus?
By the way, some site has smart contracts open for review, but I guess the majority of gambler will not bother to review it, just like the "provably fair" feature.

As far as I remember these dApps was introduced on last year (correct me if I'm wrong) and now on this year they do already proceed on focusing it up
when it comes to decentralized gambling with profit sharing set-up which is something unique and cant really be found into most platforms but I wont say that
this would boom up or would gain traction but who knows if this would drive out in terms of popularity.

For now this is something new, and i would not invest my money in something like this since there are no reason to belive this is going to be the next big thing. You should probably wait at least a few more months to see how people will react to this.

I checked a few of the top gambling sites listed on there and all of them aren't even a year old. I don't think this is the next big thing (for now) those bets could be investors gambling their way to get a bigger portion of the house. Give them a year or two if they continue to progress or maintain their stats then that's enough proof for these decentralize casinos to be successful.

You always have to gamble to maintain your share if not your profit share will slowly reduce because of how many bets are being made everyday and dividends are continuously given out.

I think it depends on the amount of capital you are willing to risk. I haven't tried any of the following but seeing that the house offers some profit sharing would benefit you in the long run. We all know that the gambling house always wins and if there are a lot of players, depending on the casino itself, you might have your ROI already in no time.

It is at its current hype, so maybe it will die down soon, and more people that have experience can share their thoughts.