EOSBet has managed to secure an online gambling license from Curaçao in order to become the world’s first regulated on-chain casino. The blockchain casino runs on the EOS platform and is the top rated dApp on the EOS network. It boggles the mind as to how EOSBet managed to obtain licensing given its shaky track record, where thousands of EOS tokens have been stolen over the course of a few months. Currently, the dApp only has two games available – dice and a modified version of baccarat – but its presently the most secure way for EOS holders to gamble with their crypto.

Hack After Hack

EOSBet has had a hard time of things in the past few months. Hackers have been targeting the blockchain gambling dApp and successfully ripped money from its accounts. Back in September, a bug in one of the smart contracts allowed the hackers to place bets that always won. Even if the outcome of the game was negative for the hacker’s bet, the casino still paid out. To rub salt into the wounds, only a few weeks later the dApp was hacked once again. This time hackers managed to inject code that forced the dApp to pay out over 65,000 EOS tokens for no reason at all. This spate of hackings shows that there are still huge flaws in the dApp’s system and that it could be a little early for the dApp to be receiving regulation.

EOS Sliding Down a Slippery Slope

Following these hacks at the blockchain casino – and a number of other market events – the EOS cryptocurrency has fallen into 6th place on the ranking tables of market cap. This is great news for players looking to pick up EOS at a discount to gamble with, but not for developers using the platform. Stellar – the cryptocurrency that overtook EOS – is currently flying and has even overtaken the embattled Bitcoin Cash to move into 4th place.

It’s Baccarat… Sort Of

Baccarat is a hugely popular game, but there isn’t much that can be said for EOSBet’s version of this classic. Made popular by James Bond, EOSBet has butchered the game and turned it into a game that has no character. Baccarat is a beautiful game and is designed to be played at the players pace, but EOSBet has sped it up and removed the table. It’s just numbers quickly appearing and disappearing – that’s it. This makes it hard to connect with the game and gives it a “rigged” feel. If you want to enjoy baccarat, BitStarz Casino has a large selection of live table games, some of which include high quality baccarat played with real cards.

EOSBet might have acquired a gambling license at last, but massive doubts still remain over its quality and security. There is a whole host of online casinos out there that provide the same service, but with better quality games and less downtime due to hacks. Trade your EOS tokens into Bitcoin, Bitcoin Cash, Ethereum, or Dogecoin and play with crypto at BitStarz Casino – you’ll certainly be glad that you did.