A new coin created solely for online gambling aims to offer players the chance to play online casino games with a 0% house edge.
Due to the huge surge of online casinos now taking up the opportunity to open their doors to those that want to fund their casino accounts via cryptocurrencies, the demand for a purely online gambling focused cryptocurrency has come into the limelight. Zerocoin aims to be one of the first digital coins to fill an unfilled gap in the online casino and cryptocurrency industry.
Zero Edge has seen an unexpected rise in ICOs within the gambling space and has captured our attention as their new Zerocoin opens up new doors for decentralized online casino play. It is rumoured that this new crypto gambling coin will allow players to play on equal terms versus the house – at least this will be the case when it is finally launched – this means a 0% house edge on all games.
Zero Edge has created its own token, which has been named the Zerocoin. The Zerocoin is Zero Edge’s entire business model aimed specifically at online gambling. It may be the case that this coin will offer 0% edge for many casino games, but when it comes to sports betting that will not be possible and this is where we predict most of Zerocoin’s profit will stem from.
If we are right, this would mean that Zerocoin can pull in an army of online gamblers that love to play Blackjack, Roulette, slots, video poker and other games. Once these players are enjoying the prospect of 0% house edge, Zero Edge casinos can also advertise sports betting. Furthermore, Blackjack players will need to play optimal strategy to consistently take advantage of the 0% house edge.
Without an optimal strategy, the house gains an edge versus the player. It is likely the dealer will be forced to hit on 17 as one of the ways to even out the house edge.
At the moment, this is just a prediction on how ZeroEdge will be able to create a profitable coin and casino business within the blockchain. Other ways they could earn extra cash is via fees if ZeroEdge provides their own ZeroCoin wallet that accepts both fiat and crypto coins.
Adding to this would be the further opportunity for ZeroEdge to open their own exchange specifically for those that would like to exchange their cryptocurrencies into ZeroCoin so players are able to gamble online using the new digital currency.
The rising price of Zerocoin for investors will stem from the increase in demand for the new coin and the adoption of the coin by investors and gamblers
Overall, the idea of Zerocoin, in theory, is extremely interesting while at the same time exciting news for both investors and online gamblers alike. On the blockchain, the main idea is to create decentralized trust. Every game can be publicly verified over the Ethereum blockchain with zero negative effects on the user experience while sessions are in play.
Being a ZeroCoin holder offers two advantages. Firstly, players will have an equal chance to win versus the casino and thus probability theoretically will always balance out according to variation. The thrill of playing online casino games is there with a limited risk of losing. Secondly, the value of the coin will always be increasing. Profit is not from the casino play itself, but from the rising value in the ZeroCoin.
All Zero Edge Casinos will be governed and licenced by the correct authorities if needed meaning that they will need to adhere to strict cyber and financial laws despite the decentralisation of the coin. US, as well as UK government licenses, will be tough to obtain, and we expect that for the initial launch of Zero Coin casinos most of the clientele will be coming from Asian, South American, and countries where licencing for online gambling is relatively lenient.
For the most part, licencing is important to many online gamblers today because of the financial as well as security protection that comes with the licenses. Take for example the UK Gambling Commission. The commission is responsible for the governance of gambling in the UK and applies strict testing as well as processes to ensure that the online casino cannot be hacked. Therefore, the general public is covered by cybersecurity laws that guarantee the online casino is private, secure, and integral.
Gaming results integrity will also be a huge selling point for ZeroCoin casinos. The most important point here is the implementation of Random Number Generators (RNGs) and the integrity of the RNGs implemented. These could be regulated by trusted companies that specialize in the creation and testing of algorithms within the financial industry as well as in the online gambling industry.
The team at Zero Edge is dedicated to making this business model work within the online casino industry. The CEO, Adrian Casey, has spent six years with two of the biggest brand names in the gambling industry; namely William Hill and Centrebet. His knowledge of the online gambling industry plus his connections within the industry are promising signs that the ZeroCoin has every chance of success.
His team is made up of a first-rate tech and marketing department in which the majority have been involved in the gambling industry. There is also a complete advisory team made up of legal experts as well as other professionals that have sound working knowledge of the ins and outs of the online gambling scene as well as entrepreneurs that have a deep understanding of the blockchain itself.
For now, the success of ZeroCoin is difficult to accurately predict. However, history shows that in most cases when there is a new concept connected to gambling and it has an appeal to what is being offered, then success usually follows. Therefore, ZeroCoin could really be the cryptocurrency of the future and well worth investing in whether you are an investor, online gambler, or both.
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