What is Ethex.bet ,,, ?
Ethex.bet is a new ETH lottery website with an interesting approach and higher winning opportunities than we usually see. This game is only based on guessing symbols from the upcoming hash block Ethereum. It’s simple and easy to use, but they will write more about it later. For now, let’s see what they found after playing for a few hours on Ethex.bet.
Ethex is an Ethereum smart-contract
lottery game with huge prizes and big chances to win. The rules of the
game are very simple and, with a wide range of prize combinations and
full transparency through the use of smart-contracts, Ethex is an
incredibly exciting game.
Ethex is provably fair and cryptographically secure. Players are required to guess the hash from the block using their bet transaction. The nature of the Ethereum blockchain makes it impossible to cheat.
How Ethex.bet Works?
First, we need to commend the developers, as this is one of the most user-friendly gambling websites we have seen. The process is pretty straightforward; there is no signup or any sort — simply connect your Metamask Ethereum wallet, and you are ready to go. If you don’t have a web wallet for ETH, you can find it here. The wallet is required for interaction with smart contracts and to receive prizes. Once you are logged in to Metamask, you can start playing the game. If you are planning to use your smartphone to play, then you would need to download the Coinbase wallet from the App Store or Google Play.
To play using Metamask (macOS, Windows):
To play using Coinbase Wallet (iOS, Android):
How to play?
The player needs to guess the last hexadecimal numbers of Ethereum block hash, using numbers from 1 to 6. The more symbols the player has matched, the greater their prize.
In each cell, the player can choose from the list one of the following values:
A specific symbol (0, 1, 2, 3, 4, 5, 6, 7, 8, 9, A, B, C, D, E, F);
Any letter group (A, B, C, D, E, F);
Any number group (0, 1, 2, 3, 4, 5, 6, 7, 8, 9);
Any even number group (0, 2, 4, 6, 8);
Any odd number group (1, 3, 5, 7, 9);
Or leave the cell blank.
Using buttons “FREQUENT”, “RARE”, “RANDOMLY”, you can select different combinations of symbols automatically.
After you have selected symbols, you should set your bet amount. The minimum amount is 0.01 ETH for each selected symbol. While you select symbols, the amount is automatically adjusting to the lower bound. You can set greater amount, but not less than 0.01 ETH x [number of selected symbols].
Once everything is ready, you should click the “PLACE A BET” button and confirm your Ethereum transaction which contain your bet. Wait until miners calculate the block containing your transaction and smart-contract. Grab your prize.
How i can win?
You win if you guess one or more symbols from the selected symbols group. Note that any symbols group has a higher chance of winning but a smaller prize. On the other hand, a specific symbol has a higher risk of losing but a greater potential prize. If you select only one symbol, your chances of winning and prize rate is as shown in the table below:
Each lottery has it’s own prize rates and usually they differs a lot depending on a jackpot structure. You can check it yourself comparing the wining chances of lotteries on different «bet vs prize» combinations. As example, we will take one of the most known lottery in the US. Player needs to select 5 numbers from 1 to 70 (white balls) and 1 number from 1 to 25 (gold ball). The ticket costs $2, and to win i.e $4 you need to guess 1 white ball and a gold ball. The winning chance is 1 : 89. Playing Ethex, you can double your bet if you guess just «any letter». Winning chance is 1 : 2.7. It says Ethex has x 33 times more chances to win.
Jackpots and Superprize
There are 4 types of guaranteed time-based jackpots in Ethex:
01. Daily Jackpot,
02. Weekly Jackpot,
03. Monthly Jackpot and
04. Season Jackpot plus one chance-based Superprize!
When you select more than one cell, your bet is played 4 times for all types of jackpots, even if you didn’t guess any symbols from the hash.
If you guess all of the last 6 symbols of the hash, you immediately vanish the amounts stored on both Ethex Lotto and Jackpot smart-contracts. You also get the general super prize amount stored on Ethex Superprize smart-contract. It is to be locked and paid out to the winner by 6 portions, every 150,000 blocks (approximately within 6 months). Each payment is about 10% bigger than the previous one. This helps to protect winners’ lifestyle and purchasing power in periods of inflation. See the payouts calculation for the super
How is the winner of jackpot decided?
When you select more than one cell and submit your bet, the smart-contract registers it for the jackpot draw. Its registration number is displayed on result screen as an index number of your bet within all bets registered to play for the jackpot. The process of deciding the winner of jackpot is very simple and straightforward. When the block of jackpot of a specific type is mined (i.e. next 35,000th block for the Weekly Jackpot), smart-contract uses its hexadecimal hash to convert it into the number and starts to count every bet registered for the jackpot. If there are less bets than the hash number, it continues to count from the first bet again and again, and so on until the hash number ends. The last bet before the count ends is the winner of the jackpot. If the count stops on one of your bets, congratulation — you win the jackpot! To win the Superprize, you need to select the specific symbol for all 6 cells. If you guess all of the last 6 symbols of the next Ethereum block, you immediately win the whole prize pool and the full jackpot amount! If you manage to guess all 6 symbol of the hash — you win the Superprize! Note: if there is more than one person who guesses all 6 cells, the whole prize amount is divided proportionally between all winners, according to their bet amounts.
What is “provably fair” on-chain gambling?
Ethex is based on an Ethereum smart-contract. It is executed by the Ethereum network, which enables it to operate in a decentralized fashion and to provide a transparent, provably fair on-chain gambling. Simply put, “provably fair” means that any bet outcome can be independently verified and that neither operator nor the other players are able to tamper with the results.
Is Ethex provably fair?
Yes, it is. Gameplay is controlled by an Ethereum smart-contract that compares your bets against blockchain data (block hashes). Block hash is the result of a cryptography function that is calculated from the list of transactions included in the very same block. There is no way to know the hash before transaction is included in the block and there is no way to change the block hash, due to Ethereum’s consensus mechanism. The Ethex contract is open source and publicly available. Any party can audit the contract as well as inspect any transaction to make sure that neither Ether nor malicious players are influencing the results.
How are you different from other gambling sites?
Most gambling websites depend on so called pseudo-random number generators. Ethex doesn’t use any number generators. Instead, it relies on public blockchain data (block hash). Block hash is generated independently by billions of miners, and only after your transaction is included in the very same block. Placing a bet on Ethex has a much lower transaction fee compared to similar websites − this allows supporting bets as low as 0.01 ETH. Ethex is very simple and easily understandable.
What if I want to verify that everything you say is really true?
Feel free to study our smart-contract — it’s available on Etherscan. In case you have any questions or hesitations, drop us a line via email email@example.com. We aim to respond to all queries within 24 hours.
Where can I see my winnings?
You can see your winnings by clicking on YOUR BALANCE in the upper-right corner of the Ethex website, or on the Etherscan.io website by entering your Ethereum wallet address in the search bar and then clicking on the the “Internal Txs” tab.
How do I know if I won the jackpot of the Superprize?
Superprize is played as soon as your bet is entered into the next
Ethereum block. If you guess all 6 symbols, you instantly receive the
entire amount of the Prize Pool and the Jackpot. The Jackpot is played
out periodically, every successive 5k, 35k, 150k and 450k block. At the
end of the draw, you will be asked for your email address so that we can
send you a notification if you win any of the Jackpots (this function
is working now). You can also see the Jackpot payout with all the other
winnings if you enter your Ethereum wallet address in the search bar at
the start page of the Etherscan.io and then click on the “InternalTxs”
Read more about the Jackpot and the Superprize in the Game Rules section.
If I close the tab, how do I know the result of the game I made a bet in?
You can do this as follows:
Log into Metamask.
Select the Mainnet network and the account from which you’ve made a bet.
Click on the “View on Etherscan” button next to the transaction with your bet.
On the Etherscan website click on the block number in the description of your transaction.
If at least one of the last six symbols of the hash block matches your bet, you win!
To find out how much you have won, enter your Ethereum wallet address in the search bar on the start page of Etherscan.io and click on the “InternalTxs” tab.
How can I increase my chances of winning at Ethex?
increase your chances of winning, you could make a bet that is not on a
specific symbol, but on a group of symbols. In the drop-down list of
betting options there are such groups as: any numbers, any letters, only
even or only odd numbers. Also, your chances of winning increase if you
mark more than 1 symbol on the playing field. In this case, your bet is
registered in the draw of 4 jackpots and can win in any one of them or
in all of them at once, even if you have not guessed a single symbol.
Read more about the probabilities of winning with certain groups of symbols, the Jackpot and the Superprize in the Game Rules section.
What happens if my bet is higher than the Prize Pool/Jackpot?
If the amount of your bet and/or the odds are greater than the Prize Pool/Jackpot, then the prize will be limited to the size of Prize Pool/Jackpot plus the sum of your bet.
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