FNetV1
Posts: 5
Joined: Wed Mar 09, 2016 4:18 am

A Decentralized Casino Lisk Dapp

Wed Mar 09, 2016 4:20 am

Here's my idea for starters:

A Casino Lisk Dapp that is completely decentralized and that isn't owned by no one and there is not an entity that makes a profit out of the winnings of loosing of people's funds. Example on how this Casino Dapp can operate: The "Giver" are the ones who deposit funds to be made available for the "Takers" to win WHEN they, (The "Takers"), gambles with their Lisks.

Example, a Giver funds the Casino Dapp pool with 20,000 Lisks and make available these Lisks as available funds that can be used to pay a winner or winners of a particular casino game such as Blackjack, Slots or even Roulette. IF the "Taker" (the regular customer that gambles) looses, then "Giver" (The person or persons that contributed towards the Casino's pool of funds) earns the loser's funds proportionally.

Further example:
Lets say there are three "Givers" that each has controbuted Lisks towards the Casino's operating funds, these Givers and their amounts were:
Giver A: Deposited 10,000 Lisks
Giver B: Deposited 20,000 Lisks and
Giver C: Deposited 40,000 Lisks

Therefore, there are a total of 70,000 Lisks available for the Casino to pay out any potential winners. The casino will, in real time, adjust any prizes and "jackpots" depending on the total amounts of funds availability at any given time.

Lets say there are one "Taker" at the time playing Slots, the taker deposits 10,000 Lisks and decides to gamble those and the taker looses.
Because the Taker lost all their funds, the "Giver" earns these funds in the following proportional amounts:
Giver A: Because Giver A deposited 10,000 for the Casino to use, Giver A earns 1,250 Lisks
Giver B: Because Giver B deposited 20,000 Lisks for the Casino to use, Giver B earns 2,500 Lisks
Giver C: Because Giver C deposited 40,000 Lisks for the Casino to use, Giver C earns 6250 Lisks

In the other hand, lets say the Taker (the customer who gambles) wins, and lets say the price was 1,000 lisks, therefore the Casino would have lost 1,000 Lisks out of a total of 70,000 lisks that was at the pool, in this instance the losses are shared proportionally to every Giver involved.

The Lisk Casino Dapp can be configured to operate under a 5% house edge, that way there can be incentive for Givers to give their funds to fund the casino's operating budjet.

Once again, the Lisk Casino Dapp wont be owned by anyone, it will be open source, there will be no central authority to collect any funds or to profit from this Casino. Those who will be "profiting" from this casino are purely the "Givers" that deposit their Lisks to the Lisk Casino Dapp and the more a particular Giver deposits, the more profits he or she can earn out of the losses of the Taker's gamblers.

The Algorithm or in other words, the Random Number Generator should be programmed as fair as possible and in a way that it can't be manipulated by anyone. Of course, once the Dapp is unleashed to the network it is assumed that it can't be manipulated, or controlled or stopped by anyone, making the world's first fair owner-less decentralized Casino Dapp.

--END OF MY FIRST DAPP IDEA FOR THE PURPOSES OF ENTERING MYSELF INTO THIS CONTEST AND TO CONTRIBUTE TOWARDS THE BETTERMENT AND WILD ADOPTION OF LISK--

Emma
Posts: 1
Joined: Fri Oct 27, 2017 5:37 pm

Re: A Decentralized Casino Lisk Dapp

Sat Oct 28, 2017 3:29 am

Well done FNetV1, it seems you have the vast knowledge of gambling. Well being new to this I’m going to play it online at http://topcanadacasinos.net/lucky-nugget/ which is a trusted site. A friend of mine recommended me and I’m really amazed at services they are providing with diverse games.

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