A new blockchain-based casino operator, Zero Edge, has been making moves in Asia, and claims to bring a 0 percent house edge concept, a change from traditional casino models used today.
According to a press release, the company recently held a seminar/networking event in Macau, which attracted experts in online gambling and cryptocurrency.
“ZeroEdge.Bet is a new type of a blockchain-based online casino, whose business model revolves around its cryptocurrency value growth unlike [the] traditional model, where the cash flow is generated only from a casino’s games. As a result, all casino games at ZeroEdge.Bet are with 0 percent house edge, meaning players have just as much chance of winning as the house does,” said the company.
Adrian Casey, CEO of Zero Edge said that the problem of current casino models is that players are required to pay for participation. Casey said the company has developed a closed loop economy with its own token purchasable with fiat or crypto – a concept that can be adopted by other online casinos.
“We have already received a lot interest and good feedback from the industry professionals. It is only natural that we want our community to grow even bigger and for that reason, we are organising an event to promote our project in Asia and grow our presence there. We also want to educate people about the advantages of the blockchain technology and its possible applications in the gambling industry for making it more efficient and customer-oriented,” said Casey.
Cryptocurrency in gambling has been increasingly discussed over the last few years. While its influence has begun to permeate the online gaming space, it hasn’t been ignored by land-based operators.
Most recently, a company named Dragon Corp announced plans to raise funds through an ICO (initial coin offering) for a floating casino in Macau.
The company proposed to release “Dragon Coins”, where gamblers will be able to buy Dragon crypto-tokens and exchange them for non-negotiable chips.
The legitimacy of the company was however questioned, after the Macau government said it was unaware of the company or its relation to the local gaming market.