EOSBet has announced it has become the first licenced on-chain blockchain casino following licence approval from the Caribbean jurisdiction of Curacao.
The decentralized gambling app will now be able to offer all forms of interactive gambling, with the platform initially allowing players to wager EOS on dice throwing or baccarat titles.
“We’ve worked relentlessly to make this license succeed and we will continue to strive to be the standard for smart casinos,” said a spokesperson for EOSBet.
The open-source casino, backed by blockchain protocol powered by the native cryptocurrency EOS, has been designed to address what the firm sees as the “fundamental problems” of online gambling platforms, including “lack of trust and transparency, costly fees, and high house advantages.”
The EOSBet platform will offer customers instant transaction times, “near zero” latency and no transaction fees, leveraging EOS.IO technology.
The dApp also claims to be the first “community-driven online casino,” allowing native BET token holders to receive a percentage of the platform’s profit through EOS rewards.
ESOBet added that the licence approval comes ahead of the release of a new game, currently in the final stages of testing, which will launch alongside a redesigned casino site.