EOSBet Bets on BTC: Bitcoin Casino and a New Account System Emerge

Bitcoin Betting
EOSBet Bets on BTC: Bitcoin Casino and a New Account System Emerge
5 (100%) 9 votes

EOSBet is one of the most popular dApps within EOS ecosystem, and for a good reason. The dApp managed to achieve a unique feat, which is receiving an official online gambling license in late 2018. The blockchain-based decentralized application received even more attention since. However, its development did not end there, and the dApp recently announced two more important news — the introduction of Bitcoin betting and the release of a decentralized account system.

EOSBet decentralized account system

Blockchain technology is still considered to be in its early days, with most of the developers’ focus being on resolving some of the largest problems that are still troubling the system. As such, the user-friendliness had to wait, and those who wanted to engage with the blockchain in any way, there were a few steps that needed to be taken before going to the blockchain itself. For example, users had to set up a crypto wallet and obtain digital coins through one on several different methods.

This is something that EOSBet team changed by allowing users to deposit funds from basically any source. They are now allowed to bet without having to use wallets or any other type of additional software. In addition, the system also resolves all the blockchain costs instead of players. This allows them to act like they are using a traditional, centralized casino.

The new EOSBet account system is completely decentralized, which is one of the main benefits of the EOS ecosystem. Everything is on-chain, while the block explorer can view any and all actions which are recorded on the blockchain. Also, all the funds in the players’ possession are controlled by the players themselves, and the system provides no custodial services.

The main feature of the system is its simplicity and user-friendliness, as the developers wanted to make it possible for an average gambler with no technical knowledge to be able to easily use the dApp. Using the dApp is simple and intuitive, with a sign-up being as simple as making a few clicks. Thanks to these changes, even those who hold no EOS or have no EOS account can participate and bet in a secure environment. They can also participate in a generous player rewards program, which has already distributed over $2 million. The number of players is growing, and there are already over 280 of them enjoying the service.

Betting on Bitcoin in EOSBet dApp

EOSBet dApp
Source: Medium

Bitcoin casino has always been a popular concept among dApp creators, but EOSBet managed to stand out by becoming the first on-chain casino to natively accept BTC. However, the dApp will likely not stop there, and a lot more cryptos are expected to be added in due time, including BCH, BSV, DASH, LTC, ETH, DOGE, XRP, and TRX.

All that players need to do in order to start is to deposit their BTC to their accounts. This will allow them to start playing instantly, and they can also withdraw their funds back at any time. The simplicity of the app is expected to help the company achieve its goal of bringing many new users to its platform. After all, Bitcoin gambling is a huge market, and hundreds of bets including BTC are placed nearly every second on various sites.

Bitcoin gamblers come from all over the world, and providing them with a Bitcoin casino is bound to put EOSBet on the map. The system is fair, and it offers attractive rewards, which is likely enough to get the players interested by itself. The system is also quite fast, which will remain a constant, regardless of the coin that the player uses.

Finally, two more games are to be launched soon, in addition to a stimulating leaderboard and a token distribution program, which will undoubtedly bring even more attention to the platform.

About Ali Raza

A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.