8Bet.io is a Provably Fair gaming platform that is 100% return, zero margin and is entirely player-powered. This is how it all works.
Provably Fair
Provably Fair is a model that ensures the outcome is entirely random and no-one can influence the results of a game. The principle is widely adopted by many of the most advanced and leading-edge online gaming sites and is seen as superior to the archaic methods of requiring players to simply trust that some human auditors have reviewed and tested the code at some stage!
8Bet’s provably fair model is based on the Bitcoin blockchain, and the entire process of drawing results is open and transparent, with open-source code that anyone can view and follow step by step to confirm that the results were entirely independent, random, and impossible to influence by any party.
The 8Bet Lottery results are generated as follows:
1. At the start of the game (before any tickets are sold) a server seed is randomly generated by the server.
2. This server seed is then hashed using SHA256 and the seed hash is then published on the game for all to see. Because this hash is public from the start of the game, the original random server seed can not be modified in any way.
3. Players then buy tickets for the game until the time of the draw.
4. At the time of the draw, ticket buys are closed and the game waits for the next block to be mined on the Bitcoin blockchain. When this happens, the game takes the block hash from this next block.
5. The server seed and the block hash are then joined together and this concatenated server seed + block hash is hashed using SHA256. This hash is then used as the RNG seed for the random number generator.
6. The lottery results (6 lottery numbers) are then randomly generated by the well-known Mersenne Twister random number generator.
Using this method, anyone can follow the process through, even using their own code to confirm that the results were indeed fair. And use of the Bitcoin blockchain as part of the RNG seed ensures that not even those who have access to 8Bet source code or servers could influence the result in any way – a truly independent and fair result every time.
100% Return to Players
The question most often asked when people hear that 8Bet operates on a 100% return model is “how is this going to make any money ?!”.
Well, the short answer is – it isn’t. In a typical house-edged gambling operation, the margin or house edge is the profit taken by the house – a portion of every bet staked that goes to the house instead of back to the players (see more about the debilitating effect of the house edge in our post about why gambling today is flawed).
But 8Bet has no house – it operates as a global cooperative, where the players themselves perform or fund all of the functions for the operation of the platform. See more about how staking, marketing, engineering, support and infrastructure are powered by the cooperative player community in our post on the idea and principles behind 8Bet.
The returns on 8Bet games are fully transparent and a full breakdown is shown in the game pays section on each game.