RPS Finance, Cryptocurrency, and The Future of Online Gambling

Vitaliy Crypto
6 min readJul 7, 2021

What is the future of online gambling and what are emerging leaders in the space doing at the forefront? While some have never noticed the heavy regulation of the online gambling industry, many people live in areas where online gambling is restricted or entirely illegal. With the emergence of decentralized currency, the industry is ripe with opportunities to improve the experience and expand access to new users through the use of decentralized apps/services.

Caught my attention!

I recently came across the name RPS Finance and discovered RPSBET, their decentralized web app. I quickly became intrigued, my interest further fueled after reading the recent Fortune article “Coinbase first-hire and investor dishes on the future of crypto” by Robert Hackett (May 27, 2021). The article discusses Olaf Carlson-Wee’s prediction for “the next big thing after Bitcoin” (which he says is/are decentralized web apps). Coupled with the fact that so many meme tokens get hyped up to massive market caps these days, the real-world use case of this project stood out like a beacon of long-term potential to me. And if that was not enough, I learned that the team has doxed and is responsive on the telegram group; Team ‘$RPS Finance’ (https://t.me/joinchat/yBaFNI7VxEY4YmJk). Below is a brief summary of my research findings on the project.

The goods;

RPS Finance is a young project working to break ground in the industry to provide a safe fully decentralized betting/gambling experience online. Established in 2018, RPS Finance has been working to refine their online peer to peer betting platform, RPSBET.io (running Beta Fiat website trials since April 2019). The platform provides a variety of games that users can place bets on and compete with other users. Having recently launched $RPS token, the new V2 RPSBET will work with the cryptocurrency rather than fiat currency.

An especially interesting aspect of RPSBET is that the games do not depend on random factors, eliminating the “house’s” edge and putting your abilities/skills directly up against the skills of your opponent. This can be especially beneficial in some geographic regions where online gambling is illegal, but this type of betting is not considered to fit into that category. Accessibility in more regions will help the project thrive as more users throw their bets in.

The development team has made significant progress on their road map, putting a lot of work in on the back end rather than advertising before a product is ready (see website/white paper for more details), which helps against massive dumps after pumps. The project also includes a robust governance system to help ensure the users play a vital role in how the project is steered (users can vote on partially developed features and will eventually be given “full control with an idea submission system based on a staking protocol.” (RPS-Whitepaper V1–05/23/21)

Details;

Let’s discuss some of the details of the project and how things work.

To start, lets discuss what RPSBET is and how it works. RPSBET utilizes a peer-to-peer betting protocol built on the Binance Smart Chain to provide a secure way to bet online. The intuitive user interface is similar to an exchange and the process/mechanics of betting will feel familiar to most prior cryptocurrency investors. The token includes burn and redistribution on transactions (including each bet placed), rewarding holders and providing for free bets.

The betting protocol diagram from the project white paper is helpful to understand how the entire process works;

1. Any user creates a bet for any of the various games available on the platform. Creating the bet requires putting up $RPS to create a “pool” (HOLD above). The creator of the bet completes the game and the results are stored for others to compete/bet against.

2. Others users can also create their own bets or can select from already created bets to play against. If selecting to play against an existing bet, the user bets their $RPS against the “pool” that was created with the bet, and adds/takes away from the “pool” by losing/winning.

3. As users join bets, the “pool” grows or gets smaller as people win and lose. The creator of the bet can cancel the bet at any time and take the “pool” out at a loss or a profit.

4. There are 2 betting modes currently in development including Free Play and Fixed Play. Fixed Play has set prices for bets. Free Play has variable prices and no slippage.

Game modes currently available or in development include;

Rock Paper Scissors

This game is very simple: rock vs paper vs scissors. You can create a game and choose your bet. Others place their own bet and find out the outcome.

Brain Game

Brain Game questions are set to test your knowledge against other users. This mode allows you to set a high score for others to beat. When playing against this bet, your bet is placed and you have to attempt the questions. If you are able to beat the high score then you take the pot.

Spleesh

Number guessing game with a growing pot intended for long- term holds. Plenty of mind games involved when users join. As they go for cheaper guesses you can sweep them by choosing a higher, more expensive number. Don’t risk leaving your money in too long as they will eventually guess it! So be sure to set auto-payouts.

Mystery Box

New and improved Deal or No Deal. Pick the right box and you could win up to 50x your buy-in. Massive gains to be made from this game. Your $RPS is added to the bet “pool” if you guess incorrectly.

Quick Shoot

Quick shoot allows the user to pick where to save the goal by allowing the user to pick a pinpoint on the goal. Other users then put their $RPS on the line for a chance to try and score. Make the shot to win the prize sum!

Stratosphere (coming soon!)

The first PvP Crash site with permission from Daniel @Bustabit! Drop Game (coming soon!) Bet your NFTs value against another’s, the rarer your NFT, the higher chance you have of winning.

The Royal Boycott (coming soon!)

Horse racing, mint your own NFT Horses and stake them to earn rewards and improve on their value.

Game features currently include player stats and seamless automatic payouts. Additional features in development and coming soon include;

-V2, Leaderboards, Global Chat, Game Bankrolls

-Governance (Game modes & Features Voting System)

-User-Generated Brain Games, Creator Commission

-Mystery Box w/ NFTs

-Quick Shoot Football Team NFTs & Rewards Pool

-Marketplace/Trading Economy

More games are planned for the future, including potentially allowing users to create their own games that can be approved/added to the platform.

Tokenomics;

(Token Name: RPS Finance | Symbol: RPS)

(2% Burn, 2% Back to Holders)

(Max Supply: 10,000,000,000 | No Min Supply)

Distribution;

20% Owners {locked for 4 Years}

15% Team & Development {locked for 4 Years: 25%/y}

10% Marketing {locked for 1 Year}

10% Community Fund (Staking Free Bets) {locked for 1 Year}

15% Presale (hosted on DxSale, max 4BNB per person, 60 BNB Total, 12.5 million = 1 BNB)

30% [RPS Ecosystem] (pancake swap)

Conclusion;

Decentralized finance technology built on blockchain has the potential to revolutionize the way many major industries operate. Gambling is a major industry that has already made large strides into the online landscape, yet it is heavily regulated or restricted in many parts of the world. Using blockchain technology, RPS Finance is working to provide a safe online gambling/betting platform that can help circumvent some of the existing restrictions in many places around the globe.

Speaking with Lenny the CEO, it seems obvious that he is passionate about this project. During phone calls he often refers to this project as his “baby” and says he had wanted to bring this idea to fruition for many years. The dedication and transparency of the team only adds to the amazing potential of this innovative and exciting decentralized web app.

All in all, RPS Finance is working on the forefront of a major global industry with a real product that is currently being fine-tuned. The teams focus on building the product before embarking on a full-blown marketing campaign gives me confidence that this project will survive long term (plus super beneficial to those that find it while it is still flying under the radar). I highly recommend that anyone who is looking for a hidden GEM for investment, check this project out. Visit the website and web application, read the white paper, join the Telegram chat, talk to the team, ask questions, DYOR, and see for yourself!

Disclaimer: I am not a financial adviser or expert and this article does not constitute in any way financial advice. The information contained in this article is pure opinion and nothing else. Any investment you make is at your own risk!

Resources;

RPS Solidity Contract Code

https://github.com/rpsbet/rpsbet_mern/blob/master/token/main/contract.sol

RPS Blockchain Information

https://bscscan.com/address/0x486dcCAF152B271630216D62C00188F2558f6bEc

Locked RPS Liquidity (4 Years)

0x88eBDc2572DFeEf31710c459fd8bfc4a23690B57

DAO

https://www.rpsbet.io/

ITEBET.IO (coming soon!)

$RPS Token

PANCAKESWAP: Available Soon! (can trade but no logo yet)

WEBSITE: http://www.rps.finance/

DISCORD: https://discord.gg/94QywhSc4d

REDDIT: https://www.reddit.com/user/RPSBet

TELEGRAM: https://t.me/rpsfinance

TWITTER: https://twitter.com/RPSBET

YOUTUBE: https://www.youtube.com/channel/UCX_VqwBdQsgXyffI1_JmgWg

TIKTOK: https://vm.tiktok.com/ZMetjukbR/

FACEBOOK: https://www.facebook.com/rpsbet

INSTAGRAM: https://www.instagram.com/rps.bet/

--

--

Vitaliy Crypto

I am an engineer by day and a crypto enthusiast by day/night. I have experienced losing a lot of money as well as making massive returns.