When EOSbet launched their dice game app, I was among the first to criticize them for their closed source code then. I also questioned the reason behind the team’s anonymity. Before I go over to the main topic, let me stress the importance of having a trusted team who aren’t hiding behind pseudonyms.
Personally, I will never buy tokens of a mutable contract if the team is anonymous. Cause the team can run away with my money anytime they want. I wouldn’t even be able to do anything since they are anonymous. If the team is known, then it allows people to sue them and attack their reputation. But this check and balance doesn’t exist if the team is anonymous.
Let’s get back to the main topic. Recently dice games have made headlines for being the most used “DApps” in the EOS ecosystem. But these blockchain based applications aren’t really decentralized because the contract creator retains full control over these applications. Both EOSbet and DEOS have single owner keys that control the contracts. You may check them out below:
https://bloks.io/account/thedeosgames
https://bloks.io/account/betdividends
They are marketed as probably fair games. Of these two, EOSbet has something called a house edge which gives the house a “small” advantage. It is defined as:
"The House Edge is a term used to describe the mathematical advantage that the gambling game, and therefore the commercial gambling venue, has over you as you play over time. This advantage results in an assured percentage return to the venue over time, and for you an assured percentage loss of what you bet." Source
That in itself makes it unfair. Even if the edge is “small”, they have high impact on determining the winner and the loser. If EOSbet has a 1% house edge and you bet 10 times and roll under 50, then logically their chances of winning is 6 times and your chance of winning is 4 times.
But what about DEOS, a game with zero house edge? Well, I would call that rigged as well. The gambling application developers will choose randomizer algorithms that will definitely benefit them and let them win more than they lose. I mean, these applications are businesses right? In business the most important thing is to make profit.
Why would anyone start a business that doesn’t benefit the owner? Even if the game is apparently fair, its code open source, its team well trusted, it will still have a system that benefits the developer a little more than the users. These dice game applications are money making machines to take the money off of average users. It’s the easiest way to get rekt. That’s why I think all of the dice games on eos are fundamentally unfair.
Image source: 1. Crossposted from Trybe.