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FunFair has been up to a lot of things, and thus, the post made a few months ago is quite outdated. I’ve written this just to keep the subreddit updated, and to have a nicely formatted post full of information regarding FunFair for both newcomers and “veterans”. This post will be updated more often than not, and when the time comes for a new one again, it shall be written! Cheers.

What is FunFair?

FunFair is a decentralized gaming technology platform which uses the Ethereum blockchain, smart contracts, and proprietary state channels (Fate Channels) to deliver casino solutions with state of the art games that are fast, fun, and fair.
FunFair is not a casino. Instead, FunFair will license its technology out to casino operators. Being a casino carries with it risks and burdens stemming from statutory and regulatory hurdles. Being a licensing entity instead, provides legal safeguards and will enable a more widely used platform.

Why was FunFair created?

There are many costs, headaches, and complications with online casinos. Briefly, they are the fees associated with operations (servers, infrastructure, large employee-base, fraudulent activity investigations, chargebacks) etc. Attracting players and gaining their trust comes afterwards, which is another issue within itself. There is a blatant trust issue with conventional online gaming that FunFair aims to diminish, while creating a seamless experience for both operator and player.

The Market.

Online gambling is a large market: Currently over 47.1 billion dollars in market volume and projected to continue increasing quite exponentially. FunFair is also attempting to capture a new market of casino operators and players that aren’t currently factored into this estimate.

The Team.

The FunFair team consists of 40+ developers, industry executives, and professionals. They have one of the largest teams in cryptocurrency. Feel free to check them out on their website: https://funfair.io/how-it-works/our-team/
Notably, the first five employee profiles presented on the website are:
Jez San OBE, Founder, CEO
Jez San is a British technology entrepreneur and investor whose pioneering work in the field of real time 3D computer graphics led to being awarded the OBE for services to the computer games industry.
Jez founded Argonaut Software in his teens and designed the first chip used to power 3D games including multi-million-selling Star Fox, Harry Potter and Croc. He also founded 3D online poker room PKR and microprocessor developer Arc International.
Since 2013 Jez has been an active investor in the blockchain and cryptocurrency sector. His investments include Google’s DeepMind and online cryptocurrency exchange Kraken.
Jeremy Longley, Founder, CTO
Over 15 years’ experience managing technology teams – from the development of advanced video-game software through to the deployment and operation of enterprise-scale infrastructure.
Oliver Hopton, Founder, Developer
Oliver Hopton is an experience developer and team lead with over 15 years experience building gaming products. He spent 10 years working at online poker room PKR as Software Development Manager working on a huge variety of administration tools and integrations with 3rd party gaming content and providers. Heavily involved in technical compliance for gaming license applications in Guernsey, the UK, France, Italy and Denmark.
He then spent 18 months as CTO of EveryFan, responsible for architecting and building a UK facing sports betting product.
David Greyling, COO
David has more than 20 years’ experience in E-Commerce related organisations. In his role as COO, David is responsible for leading the business development, strategy, operations, finance and corporate functions.
With extensive leadership experience in Digital marketing and E-commerce international companies, David specialises in leading business integration and transformation programmes.
Prior to his current position David was Director of International for William Hill PLC, reporting to the board on market expansion, regulation and strategic change management programs.
Stefan Kovach, Business Strategy and Marketing Consultant
Stef is an industry executive with with a wealth of experience, having headed up the marketing functions of both PokerStars and bwin.party - two of the biggest brands in online gambling.

Career Opportunities

Further, FunFair is looking to expand – and fast. They expect to have a team of 50+ people in the not-so-distant future, as they are currently hiring developers, business and marketing professionals, and so forth. So, if you’re looking for an opportunity to showcase your expertise in these fields, try your shot at securing a position within the company! (https://www.funfair.io/careers) The FunFair team’s base of operations is in London, UK.
Some of the positions currently offered in the United Kingdom, England, London:

• C#/Javascript Developer
• C#/Javascript Developer - Domain
• C#/Javascript Developer - KYC
• Community Manager
• Senior Business Analyst
• UI Developer
• Senior Developer - Typescript
• VP Product Owner

When did they start the project?

Technically, FunFair started on June 22nd, 2017, because all FUN tokens that will ever exist were created on this day. However, the idea, technology, and product were being developed before the ICO started.

What have they accomplished to date?

FunFair have accomplished a lot since their inception- consistently updating development, business operations, and hiring many new staff. From Sponsoring DevCon 3, receiving awards from the Malta Gaming Awards, excellent showcase updates, and launching their product to the gaming industry at the International Casino Exhibition which boasted over 30,000 industry attendees, they have been on track to their public release. With the release of the closed beta right around the corner, the future is bright for FunFair.

Ok, so what is the technology? What are they developing?

FunFair is building their decentralized platform and protocol on top of Ethereum’s blockchain. FunFair is developing the game technology, and their proprietary, advanced state channel technology which they call Fate Channels. The platform that FunFair has created and continues to develop, will allow anyone to run a casino in just a few clicks, allow third party developers to distribute and integrate their own games to a new, global audience, while creating the ultimate casino experience for end users.
Fate Channels are FunFair’s custom, proprietary version of State Channels. They are superior technology to current State Channels, as they are what support the communication during game sessions between player and casino, while executing entire game logic and random number generation off-chain. They provide a fast, low cost method for RNG, starting game sessions, ending them, and settling with smart contracts on the blockchain. There is only one gas fee needed to start the game session, which solves scalability issues with platforms like Ethereum.
For an in-depth explanation that you won’t be disappointed in reading, please refer to the technical white paper here: https://funfair.io/wp-content/uploads/FunFair-Technical-White-Paper.pdf

What really happens in the Fate Channels?

FunFair’s random number generation is executed within the Fate Channel, and is a commit/reveal scheme that makes it provably fair. There are also a hash chain to prove that the overall sequence is indeed fair.
A player enters a FunFair-powered casino with some FUN tokens in their wallet, and then both the casino and player send FUN tokens from each of their personal wallets into a smart contract which then holds the FUN in escrow via the Fate Channels (off-chain) until the player cashes out/closes the channel.
The player and casino swap random seeds that they have generated locally, and these are then hashed numerous times by both parties in private. The sequence of hashes are stored locally by each party. There could be thousands of hashes, which become the random numbers, and are passed one by one, in reverse order, by the casino to the player and vice versa when the game needs randomness. Since the hashes are in reverse order, a new hash will always hash into the previous one, so that it can be verified that it’s the correct value of the next hash. The first hash is committed in the state channel on the blockchain as it was opened, and this is what will be used later to reveal that the random number generation was correct.
The position that a ball lands on in a roulette spin, for example, is computed this way. The two hashes provided by both player and casino are combined into a random number that neither side could have predicted. It’s provably fair because because it can be shown that they come from the same hash chain in the correct sequence, and it can be shown after the game session is over, using the reveal to show the seed was in fact, committed to the blockchain in advance of the games played.
The random number generation scheme works extremely fast, and is not dependent and waiting on the blockchain for verification every time, yet it is provably fair in both randomness and sequence. It is easy to detect cheating by either side (for instance, the random number generations would go out of sequence). The security of the hash chain is what makes the randomness unpredictable. If it is possible to reverse a hash, you could predict the random number generation. FunFair uses SHA-3 for hash generation, which has not been reversed yet, and is likely to last in strength for some decades.

The platform.

FunFair presents its casino operators and players with a gaming opportunity never seen before:

• Decentralized, essentially serverless
• Provably fair, blockchain-based
• Trust-less outcomes that can be witnessed on verifiable smart contracts
• Instant cashouts - casinos do not hold your funds
• Accessible through web browser on desktop or mobile
• Fun games with an exciting user interface
• Casinos feel safer, with no risk of fraudulent charge-backs from player credit cards
• Fast gameplay conducted through Fate Channels – the team’s custom version of State Channels.
  
• FunFair is preparing for mass adoption and has a working solution for Ethereum network congestion.
  

The games.

FunFair is pursuing a full suite of traditional casino games:

• Blackjack
• Baccarat
• Craps
• Roulette
• Slot machines (many variations)
• Let It Ride
• Caribbean Stud
• 5-card Poker
• 3-card Poker
• Many more to come

You can test all of these games, right now at https://showcase.funfair.io . Some are currently testable on the Ethereum test networks.
Regarding mobile functionality: A number of mobile dapp browsers are being built (ciphestatus) – FunFair support these. Their games are built with technology that works in mobile browsers.
FunFair is one of the only projects in the cryptocurrency space that has a working product.

FunFair’s vision for the future- an updated roadmap for 2018:

FunFair’s writeup of the updated roadmap can be found here: https://funfair.io/updated-funfair-roadmap-explained/
The roadmap can be found here: https://funfair.io/latest/roadmap/

Q1: In January, the team submitted to the UK Gambling Commission their application for a Remote Gambling Software License.
February 6th-8th,

Official launch into the gaming industry at the ICE (International Casino Exhibition).

Read FunFair’s written re-cap here: https://funfair.io/ice-2018-round/

Watch FunFair’s video round up here: https://www.youtube.com/watch?v=zEjC3_5Q5jA

March 8th-10th,

EthCC Conference.

FunFair CEO Jez San gives a presentation on FunFair platform and protocol to Ethereum community in Paris.

Watch the video here: https://www.youtube.com/watch?v=irpu2iHDiK0

Q2 Goals:

• Live Beta on main network.
  
• Announce and start integration of first 3rd party games developer.
  
• Further license applications.
  
• If Beta proves successful, look to go live with first operator.
  
• Continue to attract & retain blockchain talent.
  
• Continue to build FunFair brand.
  

April 2018

• V1 product enhancements and initial stage of Go-Live readiness.
• Announce 3rd party game development partner.
• Further production quality games released.

May 2018

• V1 completes and closed Beta launches

May 15th - 17th,

G2E Asia - launch FunFair brand to Asian gaming market

Website: https://www.g2easia.com/

May 16th - 17th
Consensus and Token Summit in New York

Networking and updating community

Website: http://tokensummit.com/

May 23rd - 24th
Disruptive Online Gambling conference (London)

Exposure to UK gambling industry

Website: http://www.arena-international.com/gambling/

Q3 Goals:

• Continue roll out of early operators
• Learn, iterate and improve partner integration process
• Drive further product improvements & platform features

Q4 and beyond:

• Go live with first 3rd party games content
• Continue to build FunFair brand

Some Information Regarding Casino Operators:

Casino operators will save significant money on hardware, chargebacks, and operational headcount. The number of physical servers required is reduced as gameplay executes in immutable smart contracts deployed to the ethereum network.
An operator will, at all times, require a reserve of FUN tokens to ensure they are able to accept bets, and cover their liabilities. If, after a period of time, they wish to convert some of their FUN token balance they will have a number of market exchanges which are capable of facilitating this type of transaction.
FunFair is working on the many customization options right now and up until release. You will definitely be able to customize the look and feel. You can add your own graphics, logos, colour schemes, etc. You will also be able to choose which kinds of games are offered, and how they will be laid out.
FunFair fully supports KYC. They’ve built their own KYC technology that’s crypto-friendly. FunFair’s tech will allow each operator to have their own policies on who they exclude and whether they require KYC/AML etc.
A reminder, FunFair isn’t an operator, it’s a technology that operators use, and some will be in countries where they need to do KYC/AML and some will be in countries where they don’t. FunFair’s tech works for all cases and will support the full strength KYC if that operator requires it.
Lots of information can also be found on the website. Here are some excellent links:

• Regarding casino operators: https://funfair.io/use-cases/casinos/
• Regarding players: https://funfair.io/use-cases/players/
• Regarding game developers: https://funfair.io/use-cases/developers/
• Regarding affiliates: https://funfair.io/use-cases/affiliates/

The Past, Present, and Future of FunFair..

FunFair has been consistently networking, and the team have been continually attending blockchain conferences and events. From launching their product to the gaming industry at the International Casino Exhibition in early February, launching their product to the Asian market at G2E Asia, and just recently announcing their industry first game development partner; Spike Games, FunFair is advancing very well, on track and ready for industry disruption.
For questions that you may have think I've missed, please refer to this updated FAQ on the FunFair website: https://funfair.io/frequently-asked-questions/#the-fun-token
TL;DR - Read^{thewholething}

Things were bound to turn nasty in the scandal between poker professional Phil Ivey and Atlantic City's Borgata Hotel Casino and Spa. The two parties refused to settle, after the poker player was accused of cheating as a result of taking advantage of a flaw in the deck of cards. Ivey claimed that he did nothing wrong and simply played the game, while paying attention to details and cashing in on his extraordinary power of observation. On the other hand, the casino officials are trying to convince the media and eventually the judge that the PokerStars Team Pro cheated. He was allegedly in cahoots with a female companion and used a trick to identify the high-value cards in the game of baccarat, therefore increasing his chances to win. This is not the first time that Phil Ivey is accused of wrongdoing by casinos and baccarat tables, with Crockfords Casino in London claiming refusing to pay almost $10 million. They invoke a similar scenario and claim that they were cheated by the poker professional, with that case being also under investigation. It is a bit surprising that despite all the publicity that these scandals receive, casinos are reluctant to prevent him from playing baccarat and only react when Ivey wins. Throughout the gaming community, players are not surprisingly taking his side, although there are some who accept the fact that Phil got an unfair edge over the casino. The poker player made it crystal clear that he admits no wrongdoing and accuses the casino of trying to get away with a clear violation of its own rules. Instead of contacting the Division of Gaming Enforcement they decided to allow him to play and only after he scored the big win, took action. The case is very sensitive and apparently Borgata has very few rock solid arguments to use against Ivey, which explains why Phil refused to settle. Obviously, the Missouri-based gaming card manufacturer Gemaco is the one to blame for the incident, because the product was faulty. It goes without saying that the land-based casino in Atlantic City will pursue this company for the damages caused. Meanwhile, they are trying to avoid the worst-case scenario in which they have to pay Phil Ivey a considerable amount. Only time will tell whether they will convince a judge or if the poker professional will take what he considers to be rightfully his.
from
via Casinoreviews

There is a City of Dreams in Macau and ever since it was created, this gambling hub kept growing and now attracts a record number of people every year. Most of the games played here are regular casino games such as roulette, baccarat, video poker, blackjack and of course, slots. Poker operators were equally interested in establishing a more permanent position here and PokerStars makes no exception. The company operates almost exclusively online, but more recently they decided to get some boots on the ground and get involved in other ways too. As a result, they run occasional tournaments in Macau and City of Dreams was naturally chosen as the venue to host these events. 2013 was the first year that Macau revenue exceeded the money made in Las Vegas and there are no reasons to expect anything to change in the upcoming years. This is why prominent entertainment companies have decided to invest massively in existing venues, while opening new ones in different places. Asia remains the continent of choice and the best proof is that City of Dreams Manila is poised to grow a lot in the upcoming months. Melco Crown Entertainment is one of the investors willing to spend a lot of money here and if their plan comes to fruition, the new attraction will surpass everything existing in the capital city of the Philippines. In order to maximize their chances to succeed, the investors shook hands with DreamWorks Animation SKG and the project goes by the name of DreamPlay. Obviously, the location of this venue suggests that gambling remains their top priority and this is the source of revenue that is expected to help these guys enjoy some nice return on investment. On the other hand, the project has very ambitious goals and plans on providing educational and entertainment on par with Disneyland. The partnership between Melco Crown Philippines and DreamWorks is expected to produce results as early as late 2014. Both parties involved are highly optimistic about the success of DreamPlay and hope to tap into the immense potential of the Philippines market. For the time being, there are no plans for online poker companies such as PokerStars to become more involved in City of Dreams Manila. The fact that they were very successful in running the tournaments in Macau makes it less far-fetched to attempt to host a similar event in Manila. With DreamWorks working together with Melco Crown on this joint venture, it is only fair to assume that City of Dreams Manila will gain even more popularity.
from
via Casinoreviews

The following post by Commissar_ is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7o2gtl
The original post's content was as follows:

FunFair. An in-depth analysis.
Intro.
FunFair is a decentralised gaming technology platform which uses the Ethereum blockchain, smart contracts, and proprietary state channels to deliver casino solutions with games that are fun, fast and fair.
FunFair is not a casino. Instead, FunFair will license its technology out to casino operators. This differentiates FunFair from the competition in the blockchain gambling sphere – being a casino carries with it risks and burdens stemming from statutory and regulatory hurdles. Being a licensing entity instead, provides legal safeguards and will enable a more widely used platform.
I’d like to touch on the many aspects of FunFair that makes it an extremely promising and undervalued project. However, I won’t be making any price projections. As always, do your own research. In this case, I’ve done a lot of it for you.
The market.
Online gambling is a large market: currently over 47.1 billion dollars, and projected to continue increasing. https://www.statista.com/statistics/270728/market-volume-of-online-gaming-worldwide/. However, this is not to say that the price of the FUN token should be compared to the market cap of internet gambling. FUN is not a measure of casino capital/wealth, it's an entirely new animal.
The problem and the solution.
Trust. Traditional online casinos rely on you trusting them to be fair. The chance of red coming up on roulette is 48.65%. How do you know your traditional online casino is giving you those odds? You don’t – you need to trust them. Most online casinos are incorporated in island microstates. Do those nations have online casino regulators? Do they possess the willingness, manpower, and expertise to audit online casinos?
FunFair puts the gambling on the blockchain so it’s trustless – you know you have a 48.65% chance of having red come up. It’s fair.
The team.
FunFair has their ground covered and bases loaded. With their team of 30+ professionals they are way ahead of the competition. You may know CEO Jez San, OBE, from his career track: Argonaut Games (founder), Star Fox (programmer), and PKR Poker (founder). He has been in the gaming industry for more than two decades, and has built valuable relationships along the way. Constantly engaging with the FunFair community through Telegram, Discord, and Reddit, it seems as though he leaves no engaging question unanswered. Alongside Jez as COO is David Greyling (https://www.linkedin.com/in/davidgreyling/), former International Director of William Hill, one of the world’s leading betting and gaming companies and one of the most trusted brands in the industry. (https://www.williamhillplc.com/about/). Recently, Stefan Kovach joined the team - Stef is an industry executive with a wealth of experience, having headed up the marketing functions of both PokerStars and bwin.party – two of the biggest brands in online gambling.
Further, FunFair is looking to expand – and fast. They expect to have a team of 50+ people in the not-so-distant future, as they are currently hiring business and marketing professionals. So, if you’re looking for an opportunity to showcase your expertise in these fields, try your shot at securing a position within the company! (https://www.funfair.io/careers) The FunFair team’s base of operations is in London, UK.
The platform.
FunFair presents its casino operators and players with a gaming opportunity never seen before:

• Decentralized, serverless
  
• Provably fair, blockchain-based
  
• Trust-less outcomes that can be witnessed on verifiable smart contracts
  
• Instant cashouts – FunFair does not hold your funds
  
• Accessible through web browser on desktop or mobile
  
• Fun games with an exciting user interface
  
• Casinos feel safer, with no risk of fraudulent charge-backs from player credit cards.
  
• Fast gameplay conducted through Fate Channels – the team’s custom version of State Channels. The Fate Channels developed by the FunFair team are superior technology. In very basic terms, Fate Channels are what supports the communication during a game session between the player and the casino. They provide a fast, low cost method for random number generation, starting gaming sessions, ending them and settling with smart contracts on the blockchain. This allows for secure, deterministic, fair gameplay. There is only one gas fee needed to start the game session. For an in-depth explanation that you won’t be disappointed in reading, please refer the the technical white paper here: https://funfair.io/wp-content/uploads/FunFair-Technical-White-Paper.pdf FunFair is preparing for mass adoption and has a working solution for Ethereum network congestion. Fate Channels.
  

For more discussion both technical and company related, have a look at both whitepapers: https://funfair.io/explore/whitepapers/
The games.
FunFair is pursuing a full suite of traditional casino games:

• Blackjack
  
• Baccarat
  
• Craps
  
• Roulette
  
• Slot machines (various types)
  
• Let It Ride
  
• Caribbean Stud
  
• 5-card Poker
  
• 3-card Poker
  
• And more to come
  

You can test all of these games right now at https://showcase.funfair.io/. Some are currently testable on the Ethereum testnet.
FunFair is one of the only projects in the cryptocurrency space that has a working product. They are set to launch in the beginning of Q2 of 2018.
What have they been up to? Are they on track?
Consistently ahead of schedule and on top of their roadmap in many ways, FunFair was a sponsor of DevCon 3 and had one of the most engaged-with booth setups. They connected and networked positively with many developers at the event. https://twitter.com/FunFairTech/status/926113230677856256
They’ve recently received the Malta iGaming award for “Best ICO of 2017” which was determined by a nomination panel of 5 industry experts, and a panel of 32 judges with many years of combined experience in gaming. The awards were hosted during Malta Gaming Week; a very large event attended by many business executives, authorities, and even local government: http://maltagamingweek.com/
They’ve been constantly updating their product showcase, and adhere to all feedback received by community members. Their new showcase was designed to “be able to cope with adding more games easily by the team + third parties, and also to be configurable by casino operators.” Some of their product update can be found here: https://funfair.io/awards-latest-product-update/
How does the token (FUN) derive value?
FunFair does not issue dividends or offer profit sharing – FunFair doesn't have much to share. The technology will be licensed to casino operators for almost nothing – itself a major draw for existing casino operators to adopt the FunFair platform. With a fixed supply, the value in FUN is derived from scarcity of the token in the marketplace. Scarcity comes from four sources:

• Casinos holding FUN as part of their bankroll (described more below);
  
• Players holding FUN and not cashing it out immediately after they play;
  
• Speculators (investors) holding FUN anticipating it will increase in value;
  
• Token burn: a small amount of FUN will be slowly destroyed over time. The exact amount has not been announced, though it will likely be quite small.
  

That first scarcity factor will be key, as casinos will need extremely large bankrolls of FUN to operate a large casino with multiple games, high max bets, and a large number of seats (allowing numerous people to play concurrently).
Right now, price has been set purely by speculators. As casinos open down the road, scarcity will ramp up --- Casinos will need to buy FUN, which will lead to players buying FUN which will lead to greater popularity of the platform causing more speculators/investors to buy FUN. Scarcity and utility are what drives price.
Plans for the future & the latest company update.
FunFair will be attending the ICE Totally Gaming Conference on February 6-8 (https://www.icetotallygaming.com/exhibitors/funfair-casino). This is a major business-to-business conference for the online gambling industry. The team plans to have the developmental side of the FunFair project done in time for the conference.
Tech completion in February will allow for the advancement in operations and partnerships, which will lead to live FunFair-licensed casinos going live in Q2 2018.
FunFair is in the process of acquiring their Remote Gambling Software License from the UK, which will enable them to license their technology to existing and regulated casino operators.
FunFair has steady operational costs covered for the entire year, as well as an 85,000 ETH reserve/storage for any and all upcoming costs.
An Updated Roadmap (December 20th, 2017)
(available here: https://funfair.io/company-update-december-2017/)

Q1:
In January we will be submitting to the UK Gambling Commission our application for a Remote Gambling Software License.
In February we will be attending ICE Gaming, an international B2B conferencing event, where we will be introducing the FunFair brand to the gaming industry.
By the end of March V1 of the FunFair blockchain casino nears completion. This release will allow for real FUN to be used on the Main Ethereum Network for the first time.
Q2:
Operator On-Boarding: Deploying the FunFair casin...