etheroll News featured image with logo

Etheroll Gambling on The Ethereum Network

Overview of Etheroll

Etheroll is a new blockchain game that is very simple yet has some very interesting technology powering it. It is a basic Etheruem dice gambling game where you must roll under a certain number to get paid back. You choose the number you must roll under and how much you are betting.

The higher that number is, the lower the profit is. This is because the higher it is, the more likely that the number you roll will be under it.

For example, if you choose to have to roll under a two then you have one percent chance of getting a profit because you would have to roll a one, but that profit would be massive. With a bet of one-half ether, the profit is forty-nine ether.

Going the other way, if you to chose the number ninety-nine, then you would have a ninety-eight percent chance of winning. This is incredibly high, but the profits are incredibly low: Just over one-thousandth of an ether.

Etheroll takes a one percent commission on all transactions. This way they don’t need to mess with your likelihood to win to gain money.

How do they have randomness on the blockchain?

Making sure it is a fair roll is where this game gets interesting. First, let’s talk about true randomness. On most online games don’t have true randomness; instead, they use algorithms that have predictable but seemingly random results.

This is okay in most scenarios, but in a dice rolling game having any amount of predictability is not good because people could use even that limited amount of predictability to predict what the dice will land on.

Solution – Random.org

Etheroll found a solution; rather, they outsourced a solution. They use random.org to get their random numbers. Random.org gets its random numbers from an atmospheric noise, which as the name implies is the noise of the atmosphere.

Where does Atmoshphere Noise come from?

It is caused by many things but mainly lightning discharge. Random.org gathers this noise with sensors at trinity college in dublin and the randomness of those readings to get random numbers between one and one hundred. This is a really weird but effective way to get truly random numbers.

Connecting Random.org & Etheroll

Etheroll writes smart contracts, which are basically programs that are on the ethereum network. They talk to random.org through orcalize, which is a service that turns normal information that computers can typically understand, into a format that can be understood by the ethereum network, and get that number. It then tells you if you won or not.

Because this is all through smart contracts which can be seen by everyone, anyone, winner or loser, can look to see that the roll was completely fair. All of this openness is to ensure honesty on the side of Etheroll, which works to build trust since other bitcoin gambling sites have been dishonest and taken advantage of their customers.

What is their token DICE?

Etheroll will have a token, DICE. It entitles you to a proportional percentage of the one-percent commission that is earned by Etheroll. There is also a set amount of DICE coin that will ever exist in the world (7,001,622.64 to be exact), and no more will ever be made.

This means that if you own a DICE coin, then you always own a certain percent of the DICE supply. This helps spread out the profit and makes advocates for the program. If you own this DICE coin and you make money whenever someone makes a bet, then you are incentivized to heavily advocate for this platform.

This helps you, the company, and other holders of DICE. In addition to long-term value, holders of DICE tokens will also have voting rights. Occasionally, the creators of Etheroll might give those holders the power to decide something, such as a hard fork of the blockchain or a new feature, and all holders of the DICE toke will be able to vote on this issue.

The final, very major, bonus to holding DICE token, is that when you are betting, you always have a house edge over everyone else, proportional to the number of tokens you have. Like if you had 10 percent of DICE tokens, then you would effectively only have a 90 percent house edge against you.This means that DICE token holder will be more likely to turns an overall profit, by comparison to people who do not hold DICE tokens.

What Makes Them Different Than All of the Other Dice Games Out There?

Etheroll is also competing with major contenders, such as Primedice, that have done over 11.25 billion bets total. Unlike Primedice, Etheroll offers transparency and choice that is not available with its competitors.

All of the things they do, from getting a random number to paying the DICE holder, they are completely transparent about how and why they do it. This means that in almost everything they do, participants can go back and prove that no one could have manipulated the game.

This really is unique to them, because other dice games, like Primedice, are not nearly as transparent in what they are doing, and also have been proven to meddle with the chances.

Etheroll Interface

Etheroll also has an interface that is very simple to use and doesn’t have distracting advertisements. When I logged onto Etheroll, I could immediately see how I was supposed to do it. One of the main advantages of their interface is that there is not login. Players simply have to be using an ethereum enabled browser, and they can immediately start betting and rolling the dice. I love its simplistic and sleek design.

Player Control

The third good thing about this platform is the high level of control that players have. When you play it, you have control over the odds and how you bet. You get to decide how much you are going to risk down to the percentage. The fourth is that it has an incredibly low house edge, a flat one percent. On another platform, they manipulate the chances of you winning to get their money.

Open to players in the USA

The final bonuses to this network is that it will actually work in the US unlike PrimeDice which does not work in the US. Etheroll also requires no sign-up nor any deposits. This means that you are not handing over any personal information to a company and that you will not get any spam emails from them.

No deposits means that immediately after placing a bet, you will get your earnings, simplifying the process. When they take your money at the beginning of the bet, they simply keep it if you lost or give you your earnings when you win. In addition, since no one central server will have a large amount of money, the Etheroll system is much less likely to get hacked.  

Opinion on This ICO

This system is a very simple, fun dice game. It is very simple to play, and development is moving along at a rapid speed. I think that this ICO will be able to take on its competition soon, if not now.