RE: Edgeless (EDG) could be the best cryptocurrency gambling token you have never heard of
I'm already seeing a problem with their claim of having a 0% house edge. On their bitcointalk.org announcement page, they claim a 0% house edge but in parentheses they say "0.83% in practice". Most bitcoin casinos operate with a 0.1% to 1% edge, which they do note on the page. Their claim of being edgeless is dubious since they are actually within the house edge range of most bitcoin casinos. They are also basing their edge on imperfect play, but I don't see that they have calculated the strategies employed to overcome house edge like martindale, stacking, etc. They are going to make most of their profits on the sports bet juice of 4%, which is how bookies make their money. Also, I don't see where they are proving that Bitcoin casinos, who have player controlled seeds, aren't provably fair. They make that accusation but do not back it up with proof. I suggest you read the thread: https://bitcointalk.org/index.php?topic=1718384.0
Yes, that is the page that is referenced under their whitepaper, which I browsed over. The goal to create the most transparent casino is a noble one, as well as trying to be transparent where the blockchain explorer can validate transactions and patterns of fairness is interesting. Your points are well taken and I'm glad you pointed them out that them stating "in practice" not being zero, but perhaps their ultimate goal is to be at zero with perfect play is still being worked out, as they have not launched yet. Much like Steemit or other platforms in beta mode, there are kinks to work out, but I thought the project sounded interesting enough to consider. However, a casino giving users a series of probabilities based on the strategies you listed, I don't see them not giving customers betting advice/techniques as a bad thing. Just started researching this one, as well as GUP (Guppy), which is just as interesting (Human Resources/dating/social networking/meetup coin).
Just to set I clear, as I understand they have only 0% edge on blackjack, the 0,83% is the average error of the players in game. Means, there are only a very few people who play perfect blackjack. But if you play perfect you can get the 0% edge. This is my understanding. Further this is only applicable to games which include certain amount of skill requirements.