Etheroll is a unique online casino where you can win Ether through a dice roll game. Here’s our Etheroll review.
What is Etheroll?
Etheroll, found online at Etheroll.com, is an online casino based on the Ethereum block chain. The casino offers just one game – a dice roll game where you predict the roll of a 100-sided die.
That game uses an Ethereum smart contract to place bets. The games promise to be provably fair and require no deposits or sign-ups. Each dice roll is provably random and cryptographically secure because it’s based on the Ethereum blockchain.
Etheroll had its ICO back in February 2017. The company raised over $160,000 in Ether in 24 hours. Today, anyone can play Etheroll online at Etheroll.com without needing to sign up or register an account. You just use the Mist browser to navigate to the website, then sync to the latest Ethereum block.
How Does Etheroll work?
Etheroll is an online casino. However, the casino revolves around just a single dice game.
That dice game allows players to select a bet size and their chance of winning before rolling the device. As the difficulty of your bet goes up, your winnings increase.
If you win, your winnings are paid into your account immediately. There’s no third party involvement because Etheroll uses the Ethereum Smart Contract system. It’s exactly how blockchain-based online casinos are supposed to work.
How does Etheroll make money if the games are provably fair? The company claims to have a 1% house edge. Overall, the dice games promise to be a fun way to win more Ethereum money while playing in an environment with minimal transaction fees and a tiny house edge.
The Etheroll ICO
The Etheroll ICO took place back in February. Investors sent Ether to the crowdfund’s smart contract address and received Etheroll tokens in return. Etheroll’s tokens are named DICE and have the symbol ROL.
Those who hold DICE have a proportional ownership in Etheroll. Profits are paid out every 12 weeks. 100% of profits earned by Etheroll are paid out to DICE ticket holders. For example, if a total of 100,000 ROL are held across the internet, and you own 1,000 ROL, then you would earn 1% of Etheroll’s profits every 12 weeks.
Etheroll wanted to avoid the problems of ICOs like the DAO ICO, which collapsed in July 2016 and lost investors millions of dollars. To avoid problems like that, Etheroll requested a third party security audit. The audit was performed by Ethereum developer Piper Merriam. You can Piper’s final security audit here.
How to Play Etheroll
Playing Etheroll is straightforward. You’re essentially betting on the results of a 100 sided dice roll. That dice roll is guaranteed to land on a number between 1 and 100. To win, the dice result needs to be lower than your number. If the dice result is lower than your number, you win.
In order to place a bet, you need to install the Mist browser. Then, you need to sync to the best block on the Ethereum network.
Here’s how this works in a step by step way:
Step 1) Set the bet amount (in units of Ether)
Step 2) Adjust the slider to change your number and percentage of winning
Step 3) To win, the dice result needs to be lower than your number
Step 4) Click ROLL
Step 5) If the dice rolls a number lower than your bet, then you win immediately. If you lose, the contract will send you back 1 Wei.
If you win, then a 1% commission is subtracted from the total amount of your winnings.
The game is straightforward and requires little strategy: when you pick a lower number, you have a lower chance of winning – and a higher payout. You can adjust the game to suit your gambling style. If you’re a conservative gambler, then you can always pick a higher number and enjoy safe, consistent winnings. If you’re a risky gambler, then you can swing for the fences with a lower, high-risk number.
Etheroll is a basic online casino based on the Ethereum blockchain. The dice game is provably fair and relies on the Ethereum smart contract system. You don’t need to register an account to play – you just need to use the Mist browser and sync to the latest Ethereum block. The house has a 1% edge on all rolls. If you’re interested in gambling and want to win or lose Ethereum, you can start gaming today at Etheroll.com.