Steem-bet.com Raises the Stakes for Cryptocurrency Betting

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Steem-bet.com

I remember well my first foray into cryptocurrency gambling. It was on the EOS blockchain and in my hubris I realized I had quickly lost $50 in the blink of an eye. It was my own fault of course, I got greedy and made some foolish bets.

I still wander back to that site from time to time, but now that I have discovered Steem-bet.com, I think I have a new home for my occasional crypto-gaming dalliances.

Steem-bet.com bills themselves as "an innovative platform for decentralized games, autonomous community and revenue sharing" all built on the Steem Blockchain.

Right now, like most cryptocurrency betting dapps, their flagship game is a dice game. Based on their white paper and roadmap (which I will cover in a moment), I am really excited about what the future holds for this great project.

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Getting started on Steem-bet.com is actually pretty simple. If you visit the dice site I linked to above you can click the login button in the upper right hand corner. You then have the option to login using the STEEM Keychain browser extension, or STEEM Connect.

Once logged in you will see that the site is very similar to other dice sites. However, I have to admit, I am a big fan of their color scheme. Bets can be placed with either STEEM, SBD, or their soon to be released SBT token. You can choose if you think the roll will be over or under the number indicated by the slider. You can then move the slider to increase or decrease your odds depending on which number you pick. The more probability the roll will be favorable to you, the less you win. Likewise, the less probability the roll will be favorable, the more you win.

Truthfully, the dice game itself is pretty straight forward. One key feature I haven't seen in other dice games is the ability to bet with their proprietary token. Steem-bet.com's dice game has this, and I personally think that is an awesome inclusion.

Steem-bet.com does have a referral program that allows you to receive 0.2% of your friend’s bets when they use your referral link.

Whitepaper and Roadmap

Steem-bet.com is in the process of launching a presale for their SBT token. It is set to begin at 12:00 PM EST on 5/3/2019. Purchasing tokens during the presale will give you a 30% bonus on the SBT that you buy.

Once the open crowdsale starts, their bonus percentage will decrease over time down to zero. Holding tokens offers several advantages, not only can you bet with them, you also receive dividends from them based on the amount of tokens you have staked.

Dividends will not be paid out until 5% of total tokens have been mined and the most important thing to remember with Steem-bet.com is: "Gaming is mining".

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Although Dice is currently the only game available on Steem-bet.com, they are actively working on increasing their offerings. According to their road map, they might be running a little behind as we just entered May and I haven't seen the "Million Jackpot Progress Slot" yet. My assumption is details running up to the token sale have been taking up the majority of their time. Here is a breakdown of the upcoming games:

Million Jackpot Progressive Slot - This is a traditional slot machine that adds 1% of the games bet volume back to the jackpot. There will be a gradual increase in jackpot bonuses over time which can be accumulated up to and beyond one million dollars.

Innovative FOMO Fruit Machine - This is labeled as a classic arcade game. The concept sounds a lot like the old gameshow "Press Your Luck" or a basic spinner game. Basically, there are 28 squares each with a different type of fruit in them. You set your bet by picking which fruit square the light will land on after circling around each of the squares. They have added a twist to this classic game by introducing the "Fomo Mechanism", there are no details on that right now, so we will just have to play the game to learn about it.

Innovative Monopoly - This game is obviously based on the classic board game. According to the whitepaper it sounds like the traditional rules of the game will apply. The twist will be you are playing with cryptocurrency and you can play against live players all over the world!

For your reference, the full description of each of these games can be accessed by viewing their whitepaper here. They also have a handful of other games in the works:

Crash - This is a speculative game based on an increasing curve. The goal is to place your bet as close to the explosion before it actually happens. The closer you place your bet to the explosion, the more you win. The farther away from the explosion you place your bet, the less you win. If you place your bet after the explosion happens, you lose your initial bet.

Red and Black - This one is farther down the road-map for them so the details are a bit sparse. It sounds like a basic poker game though.

The Bull - The Bull is a one hundred player(?) simultaneous game where five cards are dealt from one deck to each player. After reading that I think they might have added an extra zero and meant "ten player". In any event, your hand is only compared to the dealers. This means you are betting independently of the other players at the table (similar to blackjack).

Sports Bet - Finally, by 2020 Sports-bet.com is planning to have a full sports bet platform established. The benefits of this decentralized sports betting will be threefold:

• Elimination of the houses manipulation of odds
• Smart contracts will offer transparency and oversight
• Participation will be open to everyone allowing them to be their own house or host events.

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Token Sale

Make sure you remember that the token sale is taking place on May 3rd, 2019. If you are interested in more information on the token sale or why Steem-bet.com is going to be one of the top platforms for cyptocurrency betting, check out their homepage. Specifically, I encourage you to check out the token distribution chart about half way down the page.

If you have been thinking about investing in a gaming platform or you just want to try your hand at something new, there has never been a better time than now to check out Steem-bet.com.

Note: The presale has started and tokens are being distributed based on betting on the platform. It is not a traditional token sale where you simply buy their token with another token. It is also important to realize there are two tokens, SPT and SBT this article on Steemit by Steem.bet.com helps to explain the difference.

References

Steemit

Discord

Telegram

I've been hanging around the Steem-bet.com Discord server for the past couple of days and they have been more than helpful with all of my questions for this post. They even gave me the logo I used for the beginning of this post.

Disclaimer

This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.

All images and screenshots were used with permission.