Controversial Ethereum gambling dapp pays out $3 million to winner

Discussion in 'Bitcoin Casinos' started by Humble Servant, Sep 28, 2018.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    Ethereum has been struggling this year to find a reason for its existence other than as a launch pad for questionable ICO's. It promised to herald in a new era of DAPPS (decentralized apps) that would disrupt conventional centralized businesses and services but the only dapp to receive interest so far was CryptoKitties which slowly died a death once the novelty wore off. Well a second wildly popular dapp has appeared and guess what, it's a gambling dapp.

    Fomo3d is advertised as a game of chance where players have 24hours to buy-in and then over half the pot goes to the last buyer who purchases before the games finishes. You are allowed to enter as many times as you like, you can use the strategy to buy all at once to take up as much time as possible or try to sneak in a buy at the last minute to win the pool.

    While most Ethereum casino ICO's are obvious scams that will never deliver a return to their investors, we have to say that we respect the openness of the developers of Fomo3d who have admitted that the game is based on "exit scamming" and their tagline is even "All the Fun of an Exit Scam". They have even gone as far as describing it as “a psychological social experiment in greed”. You have to give them an A for honesty.

    This week the first round of the controversial games came to a close and it paid out over 10,000 ETH to the winning player, which is worth over $3 million dollars. The winner gamed the system by completely jamming the ethereum blockchain so that no other players were able to enter a bid before the clock ran out. In total the winner only risked 50 ETH in total in order to walk away with over 10,000 so hats off to the victor.

  2. Lance

    Lance Member

    this will fade into obscurity like every other ethereum dapp in a few months once the novelty wares off. people will eventually go back to gambling on the nfl or playing roulette.

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