Curacao has granted an online casino license to Edgeless. This makes them the first blockchain-based casino to receive a license in any online gaming jurisdiction.
While Bitcoin casinos have earned licensing in various jurisdictions, they operate differently from Edgeless. That's because Edgeless will run on the Ethereum blockchain.
Ethereum operates on smart contracts, meaning the gaming software is actually written into the blockchain. This contrasts Bitcoin casinos, which use standard online casino software and merely accept a blockchain-based currency.
Edgeless Means there's No House Edge
Aside from being the first blockchain-based online casino, Edgeless is also unique because its games won't have a house edge.
For example, their roulette wheel will have 18 black and 18 red numbers, but no zero. The zero is where normal casinos get their house advantage from. The end result is that neither you nor the casino would have a long-term edge.
But why would Edgeless form an internet casino where they don't have an advantage over players?
Much like the famed Bitcoin, Edgeless (EDG) is going to be a cryptocurrency as well as an internet casino. Therefore, EDG will earn money off transactions through the Ethereum blockchain.
But players can still make deposits and withdraw money on Edgeless through other cryptocurrencies. This is what EDG founders are calling "shapeshift integration."
Curacao License is a Historical Event in Online Gaming
Edgeless' decision to operate on the Ethereum blockchain could interest more casinos in doing so. Furthermore, they're the first licensed casino to run entirely on a blockchain.
Curacao isn't the most-reputable gaming jurisdiction. After all, they provide next to nothing in terms of player protections. Curacao's main function is to review casinos before issuing licenses and look out for any companies that would launder money or finance terrorism.
Nevertheless, the fact that this sovereign state of The Netherlands issued Edgeless a license is interesting.
Rise of Cryptocurrency Casinos
Edgeless has plans to launch on January 18. And they'll be just the latest internet casino to deal in cryptocurrencies.
Many online casinos are at least accepting Bitcoin. Others also take additional crypto deposits in Ethereum, Litecoin, and Bitcoin Cash.
Other factors that are fueling the rise of cryptocurrency gambling include lower fees and anonymity. This isn't to say that players who use currencies are completely anonymous. But they can at least avoid answering to credit card companies and eWallets.
The fact that Edgeless is not only accepting a cryptocurrency but also running games without a house edge is yet another big step in this evolution. We have no doubt that Edgeless will attract a fair amount of customers, given that they're the first online casino without a house advantage.
