We are proud to announce our pre-alpha version is now live

We are happy to announce that you can now use our Ðapp Etheroll at http://etheroll.com

Our Ethereum dice game is now live! Try your luck with a provably-fair dice roll that is generated entirely on the Ethereum blockchain. There is no 3rd party generating the random number, our random numbers are generated entirely on the blockchain.

We are currently the only Ethereum blockchain dice game in the world.

A special shout-out to Vitalik Buterin and the entire team at Ethereum for making any of this possible. We are looking forward to the future!

Some numbers.

Most wagered this week on Bitcoin casinos

These casinos have been thriving during the past 7 days.

  1. Primedice: $7,221,516
  2. PocketRocketsCasino: $3,059,044
  3. bustabit: $2,811,960
  4. SatoshiDice: $762,739
  5. dicenow: $495,196
  6. myDice.co: $254,232
  7. SafeDice: $236,984
  8. Betcoin.tm: $210,704
  9. CryptoGames.io: $164,181
  10. DiceCoin: $104,004

Source: http://thebitcoinstrip.com/leaderboard.html

The Game

etheroll.com

Etheroll.com is a game of chance. Pure chance. This is truly 50/50 gambling. A purists sport.

Etheroll is a dice game for Ethereum, based on the simple idea of players betting on a ‘high’ or ‘low’ result.

Players are prompted to pick a number between 1-100 together with a wager they would like to place for the betting round. Upon user submission, the smart-contract then generates and returns a truly random number that is formulated entirely inside the blockchain.

This means there is absolutely no 3rd party to trust for random number generation…

Winners are paid when their number is within the resulting range, either high (50+) or low (<50). We pay winners 1.98 to 1.

Each betting round takes about 1 minute to complete – based on the speed of the Ethereum blockchain. We wait for a period of about 6 blocks before revealing the random number. A block is generated on the Ethereum blockchain, on average, about every 20-30 seconds:
https://ethstats.net

The odds at Etheroll are calculated to give the house an edge of 2%, this packaged up with full transparency because all die rolls, results and earnings statistics are verifiable using the blockchain.

There are no deposits, there are no sign-ups. All of these features add up to one thing. We are probably the safest online casino to gamble on in the world, as our source code is completely open-source and verifiable, and we hold no user funds that could otherwise be at risk due to site/server failure, corrupted employees or hacking. There is nothing to hack.

On top of this, the Etheroll Ðapp is provably fair.

We provide the sha3 seeds prior to and after each betting round. Proving we did not and cannot (thanks to sha3 encryption) change the seed,  simply due to the fundamental way in which the Ethereum Blockchain operates.

Etheroll.com is currently a working prototype . It is a pre-alpha release to test the core game mechanics, usability and to perform bug tests and updates, as we build towards a final ‘go-live’ release phase.

At the moment (February 2016) Etheroll only runs on the testnet Ethereum blockchain, where no real money is involved. Test wei (the smallest unit of Ether) on the testnet is not exchangeable for real Ether.

If you connect to the site without running a local testnet Ethereum node, the website will not work. This is until the Mist browser will be released, which is a browser being made by the core Ethereum team to allow Ethereum Ðapps to run without the need for a full local node to be running.

Ether is the unit of currency that users are betting. Ethereum is the 2nd largest crypto-currency, followed only by Bitcoin.

The Etheroll game mechanic is provably fair in the sense that the game source code runs entirely on top of the Ethereum blockchain. This provides a level of auditability, accountability, transparency and trust that is just not available to users of standard, closed source, typical existing online gambling sites that do not run on the Ethereum blockchain. That is why Ethereum is often referred to as a ‘trust-less’ environment.

Etheroll game source code is an Ethereum smart-contract that by nature can be viewed publicly by players at any time to prove the game is provably fair.  Once it has launched, it can never be updated, changed, compromised or exploited.

Ethereum casinos like Etheroll.com will further revolutionize online gambling, beyond Bitcoin casinos

The reason we are so excited about Etheroll and Ethereum based online gambling and casinos in general?

We solve the majority of the problems brought up in articles such as this (emphasis added):

…The infographic mention another important point: transparency. Since all transactions are visible in the blockchain for verification, Bitcoin offers greater financial transparency. This is true to a degree, but it doesn’t mean that Bitcoin gambling is always “provably fair” (as the infographic claims). For example, random number generators used by a Bitcoin casino might be skewed. This problem can be solved by using open random number sequences provided by trusted third parties.

Of course, the disturbing prospect is that the operator might just take the money and run, anytime. I started several discussions related to Bitcoin gambling and betting on bitcointalk, and this point was frequently mentioned. It appears that security-conscious, scam-wary, avid gamblers will only trust fully transparent systems that live on the blockchain itself, where all transactions are person-to-person (P2P) and the operator is never able to access the money.

Source: https://www.cryptocoinsnews.com/bitcoin-will-revolutionize-gambling/

 

How do we do it?

Our Ethereum blockchain based gambling Dapp (decentralized app), Etheroll.com uses no 3rd party in creating the random numbers it generates for players. The random number is in its entirety created on the blockchain, salted with user input, and a few other fancy tricks, which is all viewable as open-source code.

There is no 3rd party to trust. There is not even a 2nd party to trust.

We don’t have user registration, which means we don’t take deposits, which means there are no player funds at risk from being exploited either by external or even internal misfits and/or hackers (it has been known to happen before!).

This on top of an open-source, relatively easy to understand code base that anyone could decipher (after a reasonable amount of research), to prove beyond any doubt that Etheroll.com is a provably fair game.

This is the beauty of casinos and online gambling in general on the Ethereum blockchain. These are just some of the advantages of Ethereum casinos like Etheroll.com over Bitcoin casinos. I am sure we will discover more soon.

Open source

Our Ethereum online gambling application runs entirely on the Ethereum blockchain, our odds are calculated to give the house an edge of 2%. with full transparency because all die rolls, results and earnings statistics are verifiable using the blockchain and our source code will soon be made public so the public and players can be 100% confident that the application works as promised.

Stay tuned for a link to our source code in the near future. We will release the source code link on this page.

We are still working extra hard to finesse the source code before the public gets to run their eyes over the magic smart-contract that is the brains for Etheroll.com and its ability to allow its users to gamble online using the Ethereum blockchain as the backbone and Ether as the game token or currency.

Our vision

Etheroll.com – de-centralized, provably fair, immutable, Ethereum based online gambling application (Ðapp).

Etheroll.com is an online gambling Ðapp (de-centralized application) providing 50/50 chance for its players, it runs on the Ethereum network, which means it is auditable, transparent and de-centralized.

Ethereum is a disruptive technology that looks to change the way the world does business. A consortium of 42 banks, including 11 world banks are already testing the use of the technology to underpin their financial transactions. Microsoft has just included Ethereum developer tools in its latest software suites.

Etheroll is a simple game, that provides a platform for users to gamble ‘Ether’ currency (the  2nd largest crypto-currency) in a provably fair fashion. Ether is reasonably new to the crypto-currency market, having only launched in July 2015, the rise of Ether has been gargantuan in a very short time, with many predicting its market cap to outnumber that of Bitcoin at $6.1 billion. Ethereum market cap is currently $300 million, a very quick rise, partly due to the fact it has the programmable ability to run smart-contracts (auditable code) on the Blockchain. This means applications, business solutions, world banks, accountant firms (including the big four) and so-forth are looking at how to leverage this network for to reduce the ‘cost-of-business’. This is something Bitcoin is unable to offer. The future of Ethereum at the moment is looking very positive.

The current Ethereum online gambling market in February 2016. Our future, our competition and data from existing Bitcoin online gambling sites tell an interesting story.

Satoshi Dice (www.satoshidice.com) is an existing Bitcoin game that runs on the Bitcoin blockchain and is an interesting insight into the market that Etheroll will be able to tap into on the Ethereum blockchain in the very near future.

“Responsible for more than 50% of daily network volume on the Bitcoin blockchain, SatoshiDice reported first year earnings from wagering at an impressive ฿33,310 ($13,740,000). During the year, players bet a total of ฿1,787,470 in 2,349,882 individual bets at an average monthly growth rate of 78%. Earnings were calculated from eight months of data covering May to December, 2012.”
http://www.forbes.com/sites/jonmatonis/2013/01/22/bitcoin-casinos-release-2012-earnings/#8039cf650cb2

 

As of writing (February 2016), at the moment there are ~150 Ðapps that have been created, across a vast array of industry, in various stages of release. From concept, to prototype, to testing and live:
http://dapps.ethercasts.com/

There are 2 Ðapps truly in the gambling category currently, we are 1 of them:
https://dappslist.com/dapps/#s=1

We believe we hold particular advantages within the Ethereum gambling industry due to the following characteristics of Etheroll;

  1. Our random number generator does not rely on a 3rd party. It is generated entirely within the Ethereum blockchain. This is truly puristic style, provably-fair gambling. There is simply no 3rd party to trust, ever. Oh, besides maths.
  2. Our user interface is simple for players to place bets. Our game is truly 50/50. Users simply pick a number between 1-100.  This appeals to a lot of ‘purist’ style gamblers all around the world, particularly China.

We do have problems.:

  1. We have no marketing
  2. We have no users (Ðapp has not been publicly launched yet)
  3. We need bankroll (to pay winners).

 

VISION

We believe that if we can solve the aforementioned problems we can immerse Etheroll at the forefront of an extremely lucrative and active market. For example;

The Bitcoin market cap is $6.1 billion.

It is estimated that 50-60% of Bitcoin transactions are for online gambling.

Ethereum (though only ~6 months old) is now the second largest crypto-currency by market cap at $300 million. We believe the Ethereum market cap will eventually equal that of Bitcoin, or higher.

Our goal at Etheroll.com is to capture a medium sized audience of the gambling marketplace that the Ethereuem blockchain will offer in the very near future.

Our 3 month goal; to gain at least a 30% market share of the online gambling marketplace on the Ethereum blockchain. During which time we will be looking to roll-out new casino style games and other valuable features for our users.

The current Ethereum online gambling space, our competition and case studies from current existing Bitcoin online gambling sites

Bitcoin online gambling is a huge market, estimated to account for roughly 50-60% of all Bitcoin transactions. With Bitcoin at a market cap of ~$6.1 billion at the time of writing, it is no wonder we see great success stories with Bitcoin gambling websites like Satoshi Dice.

Satoshi Dice is an existing Bitcoin game that runs on the Bitcoin blockchain and is an interesting case study for insight into the potential market that Etheroll will be able to tap into on the separate and disruptive technology that is the Ethereum blockchain in the near future.

“Responsible for more than 50% of daily network volume on the Bitcoin blockchain, SatoshiDice reported first year earnings from wagering at an impressive ฿33,310 ($13,740,000). During the year, players bet a total of ฿1,787,470 in 2,349,882 individual bets at an average monthly growth rate of 78%. Earnings were calculated from eight months of data covering May to December, 2012.”
http://www.forbes.com/sites/jonmatonis/2013/01/22/bitcoin-casinos-release-2012-earnings/#8039cf650cb2

We envision Ethereum online gambling to soon catch up to Bitcoin onlne gambling in the near future, and we are going to be a part of that story from the get-go.

Our vision:
To own at least a 30% market share of online Ether gambling on the Ethereum blockchain within 3 months.
https://etheroll.wordpress.com/2016/02/17/our-vision/

Please visit us at http://etheroll.com

We are looking forward to the future.