ICO rating

Ethbet is a decentralized and provably-fair Ethereum-based dicing game without a mandatory house edge. Ethbet is able to offer bets without a house edge because players bet directly against other players instead of against a centralized house. The disadvantage of this is that in order to place a bet, there must be another party willing to place the same bet. For this reason it is possible that a player must wait for their desired bet to take place, especially if it is very large. To combat this, an additional feature of an optional player-defined house edge is added, allowing players to offer and take (or ‘call’) bets with any house edge that they desire. Thus, a player that prioritizes speed over their expected return can agree to a bet that gives him a slight disadvantage (i.e., a bet that gives his opponent a small house edge). Similarly, a player that is patient and prioritizes their expected return can offer bets that the formerly mentioned player may choose to call. This results in a model where players are effectively able to become their own ‘casinos’, allowing market forces to provide players with bets as quickly as possible at the best possible rates.