Etheroll Promises a Revolution in Online Gambling
With the price of Ethereum soaring from less than $1USD at the start of 2016 to now well over $9USD, Ethereum (or ‘Ether’) has grabbed the attention of many gamblers and with good reason. The timing could not have been better for Etheroll, a new kind of casino (currently in pre-Alpha) that promises a revolution in online gambling…
Etheroll is a blockchain based ‘Dapp’ (decentralized app) that operates exclusively on the Ethereum blockchain. The random number generator that the site uses is not owned by anyone – it too lives on the blockchain and its code is open source. By using the blockhain in this way, Etheroll is able to create a trustless system – there is no possibility of rigging by a 3rd or 2nd party… because there isn’t one.
Not only that, but Etheroll does not take deposits, and it does not hold deposits. There are no accounts, only Ether transactions that win or lose based on transparent mathematics and randomness – for which the house edge sits at just 2%. This means that there is no possibility of Etheroll or a 3rd party running off with your funds; the only risk is the Ether itself and whether it wins or loses!
While Etheroll is still in its pre-Alpha stage, the website claims that it has backing from investors who are able to provide liquidity of over $5m USD. Etheroll also restricts players from betting more than 5% of their bankroll at this stage – as part of a security measure.
If you are interested in using Etheroll, we recommend doing so with small sums of Ether and playing casually, however this type of gambling may soon burst into the mainstream. You can find more information on gambling with Ethereum here.