Mei 03, 2018

TrueGame - Smart Contract Based Games Of Chance

It is no secret that people, however rational we think we are, like taking risks. We thirst for the adventure and adrenaline-pumping feeling of taking risk and not knowing what we will get in return. The greater the risk, the greater the feeling of fulfillment if ever we succeed. That is why we are very much hooked on the idea of GAMBLING. The Gambling market is one of the most successful markets as of today because people like to rely on their chances on winning. Lotteries, Scratch Cards, and other gambling activities are very rampant right now. Just in 2016, the estimated total volume of the gaming industry in the global market is a whopping USD 44.16 billion and is predicted to rise to USD 81.71 billion by the year 2022. Now that is an enormous amount of money !

It’s very nice to think that casinos, where most legal gambling activities take place, would take care of their customers as they are the ones bringing in revenue for the business. But No! There are a number of casino cheating techniques that have been known to be used by dealers and managers in order to trick their customers. A cards dealer can be bribed in order to favor a client. Lottery machines can be rigged and scratch cards can be marked. So many ways that customers can fall into the trap of casinos. Because of this, many gambling fanatics are starting to lose their trust for these casinos and are searching for new ways to play fair, safe, trusted and cheat-proof. Amazing prizes would be the cherry on top of the icing for this.

What is Truegame ?
To solve this disturbing problem in the gambling industry, TRUEGAME was developed. It is an iGaming platform that utilizes the blockchain technology and smart contracts. Using blockchain and smart contracts would be very advantageous especially for a gaming project because it is decentralized so there would be less chances of fraud or bribery. The vision of the team behind Truegame is to provide a gaming or gambling platform that would promote transparency, honesty and reliability to its users.

These problems could be resolved by blockchain based lottery system

You do not have to worry about losing tickets or someone tries to steal your winning because it is all secure in the platform.
Players do not have to go through a lawsuit for the ownership of the winning because the winning is from your account.
The prize pool would be higher because you do not have to pay high taxes(as far as I know) from winning on blockchain lottery. Most of the money from ticket sale will be placed in prize pool unlike the traditional lottery system.

I believe lot of people consider this as promising field, therefore more than dozens of projects were launched to compete each other.

Today, I want to introduce another strong competitor on casino&gamblings. This team worked hard to prepare working platform while most of the others were asking for investment without it. Truegame ICO

Solution offered

TRUEGAME is solving the problems associated with the gambling industry. They have designed a new project called iGaming which was launched in the market and has received very positive feedback from the gambling industry. Full transparency in the transaction and efficient operation of the platform is one of the many core philosophies of the platform. Scratch cards, prize draws and lotteries are available on the platform.

They are planning to launch dice, smart roulette and other similar lotteries on the platform in the future. The PRNG algorithm used by the platform provides random numbers used in the different kind of lotteries and scratch cards. Utilising the Ethereum based decentralised application developed, they are one of the few companies which have already built the product. Smart Contract based games are part of the platform and they believe that in the future more such games are launched on the platform.

Decentralised, open source, mobile application, deposit via cryptocurrency, immediate payment schemes and multigame platform are only a few of the many top features of the platform.

Benefits & Risks

Benefits
One of the main advantages about his gaming platform is that they have a very strong line-up of people behind, people with varying expertise and knowledge about the gaming industry. To prove their dedication to the project, the team came up with a very detailed roadmap that showcases where they will be and what they will be doing at the time. This means that they will not leave the people who trusted them behind and have thought of ways to forward their cause. I’ve already stated it above but it is also a benefit that Truegame is based on blockchain technology so it has less possibility of fraud and cheating and it will allow for a faster pay-out since it is a decentralized system. Gone are the days where will have to the worry about bribery and cheating devices since we are already online.

Risks
Like the gambling that people willingly participates in, there are also risks in whatever project we undertake. This project is fairly new and have more developments and adjustments or innovations to be made in the future. And with the constantly fluctuating Ethereum blockchain, the platform cannot guarantee the users about their profit. What they can only promise is that in Truegame, your transactions will be transparent, fair and honest.

Tokens

The tokens will be used for betting, jackpot, and commission. The token holders will get 10% commission on monthly basis, and the team is still working on best method of distribution. Investors should realize this 10% is really important. There are lots of coins which gives interests to their token holders. I have invested my Ether into Bankera one of the coins which rewards token holders by weekly interest. It might sound great, but interest rate is no more than traditional bank interest rate. This made me disappointed, since interest rate would not grow dramatically. On the other hand, TGAME's regular interest could grow as more players participate in the platform. If this project survives in competitive market, there will be more players which also means more interest for TGAME holders.

The investors could take two positions about this project:
Long term investment - due to continuous commission which comes from tokens that investors purchased, long term investing would be profitable as I explained in previous paragraph
Short term investment - when the token is listed on exchanges, if the platform get more players, the value of the token would rise for short term investment.

Conclusion

Everyone has their own ways of enjoying themselves. Games and entertainment have always been part of our life. They define the nature and personality of an individual. Gambling is another form of entertainment which has lured people since decades. Our natural instincts are always ready for gambling. iGaming is aiming to become the world's largest content provider for quality games and they believe that it is entirely possible with the help of Blockchain technology and Smart contracts.

Smart contract based gambling creates transparency and trust in the process which will attract a number of players on the platform. The TGAME token holders will be paid along the lines of the revenue on the platform. Sports Betting takes the largest pie in the European gambling revenues and creating transparent solutions for the industry is one of the first tasks for healthy future. Europe has the largest share in the market and it is estimated that this will continue in the future. What do you think will be the future of the platform?

ICO Information & Team (https://ico.truegame.io/)

300,000,000 TGAME Tokens are issued for the project in which 70% is reserved for the ICO. Token Presale stage one is currently live on the platform. There are other two stages for the Token Presale. The main sale of the Tokens starts to form the 16th April 2018 and continues until 30th April 2018. 45% of the funds collected from the ICO will be utilised on the player acquisition while 33% will be spent on the jackpot. The team is experienced in the sales and marketing.