vDice.io is a new online dice betting site that is exclusively for Ether holders. Technically, it’s like a typical Bitcoin dice site—in fact it’s highly reminiscent of the old SatoshiDice interface—but this stands out because it functions on the Ethereum network and it uses smart contracts.
The “V” in the brand name refers to Vitalik Buterin, whose face is placed right in the middle. The naming scheme and the website layout hints at SatoshiDice’s own naming convention and representation of the Bitcoin creator. Vitalik Buterin created Ehtereum, and this explains the concept behind it.
To make a bet on vDice.io is pretty simple. No need for making accounts or signing up. All that you need to do is pick a number and send a minimum bet of 0.0036 ETH to the vDice Ethereum address. This is made easy if you use the Jaxx wallet.
When the bet is sent, the server will log in your bet and make a random roll. If the roll is below than the number you chose, then you win. The amount you get depends on how high the odds were for getting the number. The ETH is now deposited directly into your account with no fuss. All of this takes less than a minute, so you can continue wagering continually.
Moreover, all bets are provably fair, and this means that you’re guaranteed of cheat-free dice betting. All the bets and transactions made are also listed on the site for anyone to see. The Big Wins and the Leaderboard are also available.
vDice takes advantage of the Oracle function of the Ethereum blockchain for faster processing. Oracles process the smart contract behind vDice ensuring transactions take only seconds, which is a lot faster than what Bitcoin can do. There are some fees to get this quick service, but as the site improves, the admins are continually lowering it.
Players can also do more than gamble. If you wish, you can invest in the site itself. The interesting element about it is that you can invest in individual games to add to the pot or you can invest in all of the games. Every time that a gambler loses, you get a part of their bet because of your investment. However, only the top ten investors will get a piece of the action. That’s why if someone invests more than you have, you might not get anything.
Overall, vDice.io has made an excellent start in its aim at spreading Ethereum usage via dice gambling. This site may seem like a SatoshiDice clone, but the humor it adds to the overall concept combined with the Ethereum technology give it the green light. If you have some Ether and you wish to bet online, check vDice.io out and experience what Ethereum gambling has in store.