With all the equity based gambling apps opening up across EOS, Telos and Steem, the line between gambling and work has become blurred.
Careful, strategic gambling of funds could be seen as a new form of mining and the staking of the earned equity tokens is now a income producing investment.
This being said, SirKnight was burned bad the other night when he suffered a worse than usual losing streak - certainly unusual by his use of other dice apps.
So does this Knight like to gamble? No, not really.
Does this Knight like to own a stake in dividend producing blockchain casinos? Yes.
What has this Knight learned? Let others mine the equity tokens, then buy them at exchanges and stake.
Of course everyone has a plan... until they get punched in the face. (Who said this?)
Good post T.
SK.
There has been a few people bringing up "unusual losing streaks" in various ways. @themarkymark I think mentioned this to @eonwarped.
Now I wonder, while the payout might fit the percentage win numbers... what if;
They obviously know who is playing via log in and those that are playing a fair bit and are upping their stakes suffer losing streaks but, the casinos have dummy accounts that will have wins arrive at the same rate. This way, they can essentially transfer the loss straight ito themselves by allocating the equivalent loss to the accounts they control. With enough dummy accounts, it would be imperceptible, especially if instead of straight transfers, they combined several losses and then randomly redistributed the value amounts so they no longer matched. Then, they take a large bet on long odds and miraculously win.
edit: @edicted might like a tag in here too.
Not sure what you mean here mate.
Will assume all is legit and I just got unlucky. It happens sometimes.
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For me, there are too many ways for the operators to game it in the background at this point. Might be different with legislation and accountability.
I would like to add, this would also explain the high numbers of unique users.
I think it was Mike Tyson.
Thanks steemstreems. I think you are right.
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