With cryptocurrency and blockchain technology set to disrupt the online casino industry, the sector has soon become flooded with new operators hoping to get their piece of the action. Standing out from this crowded market is Edgeless casino, who recently became the first and only casino to offer a 0% house-edge on their games.
Not only does the crypto casino provide players within an insane 0% house-edge, but they have also recently acquired a license from Curacao! The team have been working hard to launch their live platform, and we are pleased to announce that you can now play a range of casino games using their proprietary EDG token! This article will explain some of the main features and benefits of the Edgeless platform.
The clue is in the name! It would be unwise to write a review on Edgeless casino and not start by discussing their 0% house-edge. To understand just how significant this is, let’s take a look at how a traditional casino works.
Casinos are in business to make money, obviously. One of the main ways that they achieve this is by having a long-term advantage over the player. This is known as the house-edge. Without doing so, there would be no guarantee that the casino would make a profit, and they wouldn’t want that, would they?
So how does it work? Think about a traditional game of blackjack. The idea of the game is simple – you bet $10, and if you beat the dealer you get $20. If you lose, the casino keeps your stake. Of course, if you are fortunate enough to hit “blackjack”, you then get 2.5 times your stake. In the above example, $10 would return $25.
How does Edgeless offer a 0% house-edge though?
Hidden underneath these odds is a long-term advantage in favor of the casino. If the gambler plays a “perfect blackjack game”, this amounts to 0.5%. If the player is reckless and makes mistakes, then this percentage will increase.
You are probably thinking, “So how does Edgeless casino bring the house-edge down from 0.5% to 0%”. Well, it does so by slightly amending the gaming rules in favor of the player. One example of this is that a “blackjack multiplier” has been installed. Over time, this ensures that neither the casino nor the player has an advantage.
But how do Edgeless casino make money?
Perfectly reasonable question. No business would survive if it did not make a profit, right? Here is where things get interesting. We mentioned earlier that the 0% (or 0.5% in a traditional casino) house-edge is based upon perfect game play. This means that the player must apply a strict mathematical thought-process in their strategy. For example, if the dealer is showing a 6, and the player is holding 12 or more, then the perfect decision would be to stick. This is because mathematically, there is a greater chance that the dealer will bust, as opposed to hitting between 17-21.
In reality, most recreational players do not play the perfect game, and will often make decisions based on emotions, rather than statistical common sense. This in effect means that Edgeless casino then makes a 0.83% house-edge on players who do not play the perfect game.
How do Edgeless casino rate in other departments?
Experienced casino players know the importance of having a regulatory oversight to ensure that the operator is credible. In early 2018, Edgeless casino received a full gambling license from the Curacao Gaming Control Board. This adds substantial weight to the legitimacy of the company, as acquiring a license is a long and drawn out process, with significant independent audits involved.
Edgeless casino claims to be the most transparent platform in the industry. It does this by operating on top of the Ethereum blockchain. This means that each and every gaming outcome can be independently verified on the public ledger.
For example, as soon as a blackjack hand has been completed, the cryptographic algorithm that generated the random result is then posted to the blockchain. This cannot be amended, altered or changed, providing players will a fully transparent and trust-less platform to gamble on.
In-house EDG token
Unlike traditional fiat casinos, Edgeless only accepts deposits in its bespoke EDG token. This can be freely purchased, traded or sold on a number of exchanges, and its value will rise or fall depending on its demand.
Edgeless decided to implement this system for three reasons. First, it allowed the operator to raise funds during its initial coin offering (ICO). This was crucial to allow it to build the platform. Second, by operating on a cryptocurrency based eco-system, it allows Edgeless to circumvent certain regulatory restrictions that would otherwise be imposed if it dealt with real-world money.
Third, and most importantly, as the EDG coin is the product of blockchain technology, it allows players to receive their winnings in record-speeds. Unlike the standard process of waiting days, even weeks for withdrawals to be processed with fiat casinos, this can take minutes with Edgeless.