Hi friends!

As you know, I won some bounty from a gambling DAPP viz. Magic Dice a couple of days back; so I thought to try some gambling DAPPs on Steem blockchain with it.

Today I tried Steem Bet and also Epic Dice. I'd like to share some comparisons here.

Magic Dice

While there is no doubt that popular Magic Dice is the first and established Dice game on Steem blockchain, the token mining rate of older games decreases with time. Decrease in mining rate reflects on the increased market price of tokens.

Since SMT is still awaited hence none of these tokens are listed or traded on any exchange. So the impact of continuous halvening of mining rate can't be determined by token prices. The newer games can offer a better mining rate of their tokens and players & miners are more interested in new tokens as they are expected to give better returns after their mining difficulty increases. So there is a tendency among players to switch to newer platform to accumulate their tokens in the initial stage itself.

Probably to compete with new launches, Magic Dice recently adjusted its mining rate to make it more competitive. At present, it is offering 50 MAGIC tokens per wagered STEEM.

Steem Bet

Steem Bet is currently in its first stage of mining and offering 50 SBT for every STEEM wagered. Compared to Magic Dice's 7 billion tokens, it has only 4.4 billion tokens. Moreover, Magic Dice has already distributed about 31.5% of its token supply whereas Steem Bet has distributed only about 28 million tokens.

Therefore, SBT tokens of Steem Bet will effectively have more stake in the Dividend Pool compared to Magic Dice if it gets to similar volume as Magic Dice. However as Magic Dice is already established, it garners the maximum volume. The only thing to see is that if it can sustain that volume by retaining players to its platform as competition tries to lure away players to them.

Currently, Magic Dice does have a slight edge because of its feature rich platform, option for both "roll over" & "roll under" and a fat bankroll. However newer platforms are working on to launch many more games beside Dice.

The downside for Steem Bet is that it's yet to start distributing dividends. It plans to start distribution of dividends after 5% of its tokens are mined i.e. at the time of next halvening. With only 28 millions token mined thus far, it seems a long way to go unless there are some aggressive promotions from Steem Bet team. I've seen many dapps on EOS blockchain who were compelled to start distribution of dividends well before their planned 5% mining stage though it was quite successful for early launches. Players are not patient and want instant gratification / return else they loss their interest.

They have already developed a token staking system for claiming dividends but when tokens are not transferable, this system looks redundant or even deceptive. Magic Dice gives dividend to all its token holder and don't have any such condition. Don't get fooled by seeing some big STEEM figures under your "My Available Dividend" box. It is because only about 15% of token holders have actually staked their tokens. So when all 100% or 90% of tokens are staked, this figure will get reduced by 6 - 7 times.

They have about 3.5K STEEM in their Dividend Pool but I don't see these many liquid STEEM in their wallet. So its obvious that they don't have any immediate obligation to pay these and are using these for some other purpose. Now, that doesn't seem fair enough!

Epic Dice

On the other hand, the newest kid in this arena, namely, Epic Dice has a very good interface. Although they don't have their own token yet, they have already declared (unlike Magic Dice) that all mining rewards will be given retrospectively to current players too. They are also planing to launch their own tokens that, unlike other dapp tokens on Steem, would be outright transferable, tradeable, and immutable. That makes a lot of sense to the tokenomics.

However, I don't see a similar assurance for accumulated Dividend Pool but it's likely that it will be shared with token holders too. Magic Dice didn't share their profits earned before they came up with their own token. I found it unfair and against good faith.

I liked the Epic Dice interface over Steem Bet's. Steem Bet's slider is slightly thin and makes it difficult for me to maneuver or to frequently change the number on the slider. Button for choosing the coin to wager at Steem Bet is very obscure with only coin symbols in far left ....outside the betting box. Many times, I mistakenly wagered SBD instead of STEEM. But at Epic Dice, you can choose that right close to the Roll button and is very conspicuous in big letters.

But the biggest drawback in Epic Dice interface is that when you click Roll, you keep looking for the outcome. It took me time to figure out where to look for results. It pops up in a small bar in left bottom and you need a close observation to figure out whether you won or lost. In case you miss it, you will need to find the result under the "My Bets" section. This is very irritating and very uninviting to me on this platform. The bet results should come in the same Roll box or on the same screen space as is the wagering box. All eyes are focused there.

Aside this, Epic Dice team looks very nibble, professional and responsive. They are also working on a true auto-bet system, Jackpot game and developing a mobile friendly platform with some native app or something. They have already kick started their promotions with lower house edge in heir initial week. Now they are offering the most rewarding referral system (with 12.5% of House edge) to attract new players Recently, they came up with Weekly Bet Contest for their Leaderboard with over 500 STEEM in prizes

And a few hours back, they announced a Writing Contes with 100 STEEM in prize pool (...and this post is a result of that 😊). You too can participate in it.

N.B.:

All links to Games' websites are my referral links. This may earn some referral rewards to me if you choose to play these games using my referral link.

IMPORTANT UPDATE on Steem Bet
Is this a SCAM?

A comment by @crypticat has drawn my attention towards the scammy affairs at Steem Bet platform. They had initially announced the total supply of SBT tokens to be only 880,000,000 which they have recently increased by 5 fold to 4,400,000,000 without compensating their earlier token holders. This is very unfair and unacceptable.

Please refer to this post by @crypticat and this one by @broncnutz for more details.

I had already stated that they are not keeping liquid STEEM that belong to Dividend Pool in their wallet. What are they using it for is not clear. But as @crypticat stated in the above referred post that they are funding several bot accounts for mining their own tokens; it makes me suspicious.

Although they have put a comment here and at @crypticat's post too but didn't care to justify their actions. So it does seem fishy enough!

Take your own discretion in choosing the best platform to gamble. Just being on a blockchain doesn't make everything fair and just.

Thanks for all your love!