SmartRoulette.io ICO A New Paradigm For Players and Affiliates
Update: You can now read our full review of SmartRoulette.io here
SmartPlay.tech are soon to launch an initial coin offering (ICO) for its smart-contract based roulette game (SmartRoulette.io) that proposes a drastic and exciting new change to the online gambling industry, from players through to affiliates and operators. While we’ve seen several ICOs from Ethereum-based gambling sites in the past 2 years, none of them have offered the features that are planned for SmartRoulette.io – an online roulette table that operates using an Ethereum smart contract. Use the links below to navigate to the appropriate part of this article.
- What is an ICO?
- How do investors make money from SmartRoulette.io’s ICO?
- How does the SmartRoulette.io contract work?
- Affiliate program
- How can I invest in RLT?
- Technical advantages of SmartRoulette.io
- Who is the team behind SmartRoulette.io?
- RLT rewards for testing
What is an ICO?
An ICO is not too dissimilar to an IPO, where a privately trading company lists on a public stock exchange, providing investors with access to the company’s shares. ICOs however, allow anyone from anywhere in the world access to the “shares” (coins) of the protocol, with investments that can be as little as a few cents. Should the protocol become popular, the value of the coins on offer will therefore increase, and buying “cheap” coins during an ICO can provide significant returns. SmartRoulette.io is offering players access to their token (RLT) over the coming weeks, with the crowdsale closing once it has raised coins to a value of 9000 ETH. Read on for details on SmartRoulette’s business model and how you can invest.
How do investors make money from SmartRoulette.io’s ICO?
100% of the profit made by SmartRoulette.io’s roulette game (2.7% house edge) is paid out weekly to its token holders in ETH. Payouts are made in proportion to each individual token holder’s overall share of RLT, and coins can be earned in numerous ways that are discussed further down in this article.
How does the SmartRoulette.io contract work?
Put simply, Ethereum smart contracts are scripts that run on the Ethereum blockchain. A smart contract will function exactly as the code intends, and the outcome of the smart contract is guaranteed and transparent. In effect, this means that there is no need for a “middle-man” handling deposits and withdrawals, in fact players don’t need to deposit at all… The player sends Ether (the Ethereum blockchain’s currency) to the SmartRoulette.io contract address, the roulette wheel is spun, and the script transparently and securely determines the winners and losers. Payouts are then made instantly and are guaranteed with zero margin for error. While this use-case for smart contract technology is new and interesting, it has been done a few times before, but what’s really exciting about SmartRoulette.io is in its additional features that could usher in a new era of online gambling.
On the development roadmap for SmartRoulette.io is the integration of a smart contract based affiliate program – the first of its kind. The program will work in the same way to a traditional affiliate program, however security is guaranteed through the smart contract with which it is built on. Commission is paid immediately, and again, there is no room for error. Experienced affiliates will know the frustration that comes with commission/player transparency and withdrawals when it comes to dealing with certain platforms – SmartRoulette.io eliminates these issues entirely.
How can I invest in RLT?
Players and investors can earn RLT in a number of ways:
- Purchasing tokens during the ICO
- Betting on SmartRoulette.io
- Affiliate program
- Purchasing on an exchange
- Assisting in testing and development of the project
Users can purchase RLT tokens now by sending Ether to the game’s smart contract address. The address can be found on the official SmartRoulette.io ICO page here.
Players betting on SmartRoulette.io will receive between 0.5% and 3.0% of their bet back in RLT. During the launch phase, players will receive 3.0% of their bet in RLT, with a tiered decrease to a bottom level of 0.5% on April 15th 2017. This provides prospective players with an incentive to test out the platform today.
Referring players to the SmartRoulette.io affiliate program will also earn RLT which will entitle the referring player to ETH dividends. The affiliate program is set to launch in the coming months.
SmartRoulette.io have plans to list their RLT token on a number of exchanges, providing access to the token through payments in a variety of other cryptocurrencies including ETH and BTC.
Developers, translators, QA testers and more can all earn RLT by helping to improve SmartRoulette.io. Details of how to take part can be found here.
Technical advantages of SmartRoulette.io
Some of the key technical advantages of SmartRoulette’s smart contract can be found below:
- No deposit is required; your funds are controlled only by you.
- The process of accepting and processing bets as well as win payouts are visible to all players and investors. These operations cannot be removed or falsified from being stored in the Ethereum blockchain.
- 0.5% of funds spent on betting will be returned to you with tokens (digital shares), which will allow you to receive income from the game’s profit. RLT will also be exchangeable for a range of other cryptocurrencies at various exchanges.
- Low cost of operation. SmartRoulette.io does not employ staff, operate servers or pay for security, the Ethereum network itself provides these services at very little cost.
- No need to register. SmartRoulette.io allows anonymous betting with no document verification.
Who is the team behind SmartRoulette.io?
The SmartPlay.tech team (who have developed SmartRoulette.io) have made the decision to not name themselves publicly. Whilst this would be troubling for any traditional investment, the reality is that the value of the opportunity lies within the smart contract, and not the team themselves. Once the contract is deployed, its operation is transparent, its payouts are secure and immediate, and there is no room for “bad actors”. In effect, the team is irrelevant, it is the code and platform that should be considered when deciding to invest.
RLT rewards for testing
All players taking part in SmartRoulette.io’s testing phase are provided with a reward of 1,000 – 5,000 RLT. To receive the reward a player needs to test the game, fill in the questionnaire and publish a post about SmartRoulette.io in a social network or forum.
Depending on your page parameters you will be credited with 1,000 – 5,000 tokens or $27 – $135 (RLT/USD rate as of 03/14/2017). These tokens will last for 2 weeks, providing the holder with dividends for that period.
Promotion period: March, 10th – April, 10th
Reward size: 1,000 – 5,000 RLT tokens equivalent to $27 – $135 at the rate of 03/14/2017 (the reward size is defined on a case-by-case basis)
How to earn the reward:
- Create a MetaMask wallet.
- Make 10 spins (Testnet) on SmartRoulette.io.
- Fill the testing questionnaire in, evaluate the gaming platform and specify what errors were found.
- Publish a post announcing that you took a part in testing of SmartRoulette.io on the page of any social network (Facebook, Vkontakte, Twitter), Bitcointalk.org forum thread or in a cryptocurrency or gambling forum. Note, the text for posting can be found at the end of the questionnaire.
- Send the form and wait for the reward to be credited.
Note: Your social network account must be active with at least 100 subscribers (fake accounts will be invalid). Your forum account must have a good reputation with regular activity.
After being credited to the player’s account, RLT tokens will be available for 2 weeks and will pay out dividends during that time. Even after expiration of this period, the income received will remain in the player’s balance and will help you to evaluate the profitability and advantages of the project.