Gambling platform TronDice shells out nearly $300 million in winnings

04 Nov, 2018
by Matthew Kim
News
Gambling platform TronDice shells out nearly $300 million in winnings

TronDice, a gambling platform built on the Tron Network, has reportedly shelled out more than $200 million of winnings.

The cryptocurrency community initially caught attention of the enormous amount of winnings when the CEO of Tron Justin Sun tweeted about it. In the few days since, the counter of TronDice’s website claims that the winnings have swelled to $278 million. The winnings were rewarded in Tron’s token, TRX.

The participation of the platform requires the ownership of TRX. The game works by having users bet a certain amount of TRX and predicting a number range, which limitedly transforms their odds and rewards. When the users start the game a smart contract is generated and a number is generated; if the number lands within the predicted range, the user wins.

While the simplicity of the game and the raw quantity of winnings are alluring, participants should be wary of the potential losses as well. What the platform fails to mention is the amount of money lost through the platform, which is almost certainly greater than the amount of winnings.

Nevertheless, people are drawn to the prospect of quick money and the TronDice will likely continue to have participants on its platform as long as Tron has its army of supporters. At the time of writing, Tron is sitting at 11th in terms of market capitalization with over $1.5 billion, and TRX is valued at $0.023.

Read more about: TRON (TRX)

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