The Players Run It with URunIt ICO Online Casino
Because of their innovative nature & design, ICOs are being used as a crowd-sourcing strategy by an increasing number of industries. However, there are of course risks.
A new player in the field is venturing into a paradoxical idea that ICOs can be used for actual gambling.
URunIt.io will allow players to become part of the team managing the casino games in order to break the long-standing tradition behind the phrase “The house always wins.”
A Casino Managed By Its Players
URunIt ICO is not your average casino. It makes presumptuous but promising claims that may actually launch a new era in gambling.
The gambling market is one of the biggest industries; in fact, statistics show that it reached a total of $47.4 billion as of 2017 and is set to grow into a $59.79 billion industry by 2020.
Because of the increasing interest in online casinos, U Run It founders Roman Grushkovsky, Max Vaschuk, and Leonid Rubin see an opportunity to open new windows that could change the industry for the better.
Change for the Better: but how?
The company aims to change the gambling market into one that is under democratic management. This means, instead of having a small group of people controlling and profiting from slot machines, lottery, and poker games, the community will be taking the vast majority of the revenue.
More specifically, U Run It aims to create a casino managed by players who will, in turn, receive most of the profit.
Members of the community qualify for daily drawings to pick the manager or owner of a certain game for a limited time at no cost.
Once a person is picked, the owner will enjoy certain advantages, like hosting the game and receiving most of the proceeds. The owner of a game can also use their position to their advantage: they can buy, sell, and use it to bet. The more games they participate in, the higher their rank becomes. Their rank and experience can also be used for trading and betting in other games.
With this, the players enjoy one big gambling game instead of going against the casino one slot machine at a time. The best part is, 70 percent of a game’s profit is awarded to whoever is picked during jackpot drawings, making it a fair game for all.
Like other good things in life, the token sale of this promising blockchain-based gambling is available for a limited time only. The pre-sale of U Run It Ethereum-based tokens concluded on May 15 2018, while the pre-ICO sale ended on July 1. The main sale officially begins on September 1 when investors will get a 10 percent bonus for their purchases.
Most of the tokens (75%) are set aside for public sale, with only 6 percent assigned for the founders.
The biggest chunk of funding will cover the marketing of the URunIt ICO to ensure its success while 30 percent and 15 percent are set aside for platform development and stabilization respectively. To top that off, consumers are assured that there is a very low chance of emergence of securities fraud where prices are artificially inflated since the team’s and the founders’ tokens are frozen for 1 and 2 years, respectively.
Bright Future in Gambling
Gambling has a long-standing tradition of bureaucracy, but that is set to change. With U Run It promising to make huge changes from the norm where players get most of the profits, there is surely a bright future for the steadily growing market.
They also intend to solve to the ever-persisting problem casinos face: losing players. This is because they have provided a way for players not to lose money to the point of going broke while enjoying gambling.
But, like any other innovation, there are risks that the company might face, as revealed in the ICO’s white paper. This includes congestion, software vulnerability, and security threats. There is also a good chance that their reliance on third parties might backfire as they rely on the third parties’ interest in the project. There’s also the ongoing debate about the stability of cryptocurrency as an industry and the ever-lingering possibility of hackers manipulating the results of daily jackpot draws.
Through it all, there is no stopping U Run It from plowing forward with its crystal-clear objectives as laid out in its roadmap. This includes the onset of platform testing with real players scheduled in the second quarter of 2019.