Gambling is one of the areas of decentralized applications (dApps) to have seen the most development since Ethereum made the dApp concept possible. Thousands of such dApps have so far been created, ranging from familiar gambling concepts such as casinos and sports betting to some unique to the world of blockchain gambling. There are also entities such as FunFair looking to decentralize the process of gambling dApp creation itself.
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Most gambling dApps claim to be superior to traditional online gaming platforms by offering truly randomized outcomes based on blockchain hash data and by offering reduced commissions and house advantages. Data from Statista.com predicts that global online gambling revenues will come close to $500 billion in 2022. The amount generated by Ethereum-based gambling dApps is a long way from claiming even a small percentage of this total, but there are a number of innovative gambling dApp platforms that may be offering an insight of the gambling industry’s future development.
7 day Transaction Volume: 1,100 ETH / $204,000
Playtowin.io is a decentralized casino that uses the randomly-generated numbers of the Ethereum blockchain to determine winners for its games. It offers 18 different slot games, European and French-style roulette, and four ‘folk games’ – coin flipping, dice rolling, rock/paper/scissors and Drunkard Battle. Users use the MetaMask browser extension on desktop or Trust Wallet on mobile to deposit ETH, which is exchangeable at a rate of 1:1000 for its native GAME coins. 0.001 ETH from each bet made on its folk games are added to a jackpot total that is won whenever a player’s randomly-generated three-digit number hits 777.
Playtowin.io doesn’t have any ‘house edge,’ but there is a 3% commission on each bet made on its folk games and on withdrawals from its casino and slot games.
7 day Transaction Volume: 43,900 ETH / $8.2 million
FCK similarly uses random numbers generated through the Ethereum blockchain to determine outcomes in a variety of games that include roulette, dice, coin flipping, and card guessing games such as higher-or-lower and guessing the suit or number of the next card. More games are in development and the platform is also being developed for other blockchains such as EOS. There is also a jackpot which is paid out on average three times per day, with a maximum win of 222 ETH.
The house edge on FCK is 0.98%, which is advertised as being the lowest available.
7 day Transaction Volume: 56.49 ETH / $10,500
BetHash describes itself as ‘the fairest’ blockchain casino, and also the first built on EOS. It is available on both the Ethereum and TRON blockchains also, with supported tokens for betting including these three plus Bitcoin and IOST. It offers fewer games than Playtowin.io or FCK, with currently available games limited to Lottery, Blackjack, and Dice. However, Slots, Jacks or Better, and Baccarat are advertised as coming soon. Like the others mentioned, results are randomly determined based on the numbers contained within the latest blockchain blocks.
BetHash distinguishes itself from the other casinos mentioned so far by returning 15% of its house edge to players, which it advertises as giving players a chance to ‘own the casino.’
7 day Transaction Volume: 1,400 ETH / $265,800
Xether’s games include dice, coin flipping, slots, drawing straws, roulette, guess the card, and a pyramid game which involves dropping a ball onto a pyramid and guessing where it will land. Unlike the others mentioned, algorithms are used to determine outcomes rather than blockchain-generated numbers.
According to Xether’s roadmap, it will add support for Tron and Ethereum class in Q3 2020, with single-player Blackjack and multiplayer Poker and Craps coming in Q4 2020, and smart contract powered sports betting in Q1 2020.
7 day Transaction Volume: 10,900 ETH / $2 million
As the name suggests, Dice2.win’s games include dice rolling, as well as coin flipping and Etheroll. Outcomes are determined by a combination of Ethereum block hashes and house inputs, which Dice2.win says means that game outcomes cannot be manipulated by miners.
Dice2.win supports bets as low as 0.01 ETH. There is a 2% commission on all bets but no house edge, with its chance-based games offering a 50% winning chance. The commission is divided equally between Dice2.win and a jackpot which can be randomly won by anyone who has bet in excess of 0.1 ETH.
6. CasinoFair (FUN)
7 day Transaction Volume: None reported
CasinoFair is the first casino to be launched through FunFair, a platform which allows anyone to create their own Ethereum-powered casino. CasinoFair has one of the slickest interfaces of any decentralized casino and its games include five slot games, four poker games, higher-or-lower, roulette, two blackjack games, dice, and others.
Major DApp-ranking websites StateoftheDapps and DappRadar list no transaction volume for CasinoFair, despite it being listed among the top 10 Ethereum gambling dApps on both sites, with over 100 active users within the past 24 hours. It’s unclear whether the transaction volume is actually zero or whether this is just unreported. However, by decentralizing the actual process of creating a casino, CasinoFair is the first of what could be a revolutionary model for developing new gambling platforms.
7 day Transaction Volume: 1.23 ETH / $229
Along with familiar casino games like blackjack and a lotto ball game, Play0x offers some unique games such as multiplayer Monopoly and Mahjong. But what really sets it apart from the others on this list is that allows users to stake any ERC20 token. Like FunFair, it also allows users to create their own games and gaming zones.
Play0x also has its own token, 0xC, through which dividends on the platform’s fees are distributed.
7 day Transaction Volume: None reported
Like CasinoFair, Edgeless has no reported volume on the leading dApp ranking websites. However, it claims to ‘solve the casino question once and for all’ by offering a 0% house edge. Games available on this platform include dice, roulette, blackjack and the unique game of Crash, where a cryptocurrency price chart-style graph rises until suddenly crashing.
7 day Transaction Volume: None reported
Having only launched less than a week ago, no statistics on usage for this platform have yet been recorded on dApp ranking websites. But as the first dedicated peer-to-peer sports betting platform on the list, it has potential.
BETRbet covers a similarly wide market to leading sports betting websites, allowing users to bet on most major sports and a variety of possibilities within each game. By ‘cutting out the middleman,’ it advertises that it offers the most competitive odds of any similar sports betting platform.
10. Hero Bet
7 day Transaction Volume: 11 ETH / $1,992
Hero Bet is another recently-created gambling dApp with a unique concept. Players chose a ‘hero’ based on top cryptocurrencies. They then compete head-to-head with another player to see which of their chosen cryptocurrencies increases by the most (or decreases by the least) over a predetermined timeframe.
Hero Bet takes a 10% commission on the money staked by losing figures, 50% of which is then distributed to participants in its referral program.
The future of gambling dApps
The amount number of users and the amount being staked on these dApps is miniscule compared to the online gambling industry as a whole. Users also need to be wary of many scams and ponzi schemes masquerading as legitimate gambling platforms within this newly-emerging space. But as these dApp gambling platforms continue to grow and introduce innovative new ways of wagering cryptocurrency, the significance of gambling dApps deployed on Ethereum and other blockchain platforms is likely to grow in the near future.