Many gambling entertainment operators offer to deposit and withdraw winnings via cryptocurrencies. However, this does not mean that they operate and maintain a full-fledged registry on the blockchain – a decentralized database from a chain of blocks. The use of such a registry has created a new niche in the gambling market.
- Disadvantages of conventional online casinos
- How blockchain helps to organize gambling
- On the advantages of online casinos on the blockchain
- Manual for beginners: how to go to play in online casinos on the blockchain
- Conclusion
The level of reliability is provided not by regulators, but by open source – each user can conduct an independent audit.
Disadvantages of conventional online casinos
The activity of online casinos is controlled by gambling commissions and local regulators. If the former mainly monitor the work of the operator itself, taking care of compliance with the principles of fair play, the latter are already restricting users. For example, online casinos are banned in Russia, so even if the site has a license from Curacao, customers have difficulties with deposit and withdrawal of money.
The recent situation with YuMoneu showed that the Central Bank can block transactions related to foreign gaming sites. Because of such decisions, not only companies suffer, but also individual customers who have difficulties in receiving their winnings. Assuming that one day online casinos will be legalized in Russia, users will face the following problems:
- Mandatory verification.Most legal casinos verify the identity of customers at the first withdrawal. This is a normal practice in the current realities, but ordinary players who want to withdraw money faster are not interested in it. Have to trust confidential information to the operator of gambling entertainment – the company’s secure servers can also be hacked.
- Limits.Enter and withdraw large sums through bank cards and payment systems is problematic. In the case of winning the jackpot, the user will have to find another way to get it.
- Processing of transfers in the casino.When depositing money is received instantly, but when withdrawing, operators often delay the payment. After making a withdrawal request, funds are deducted from the balance, but the transfer is created with a delay. This allows you to use the client’s money for several days.
How blockchain helps to organize gambling
The competitive environment forces operators to improve the quality of services. However, legal casinos are stymied by the rules of regulators and gambling commissions. Illegal operators can go beyond the established limits. Just because they don’t have a license doesn’t mean they can’t prove their integrity to players.
Blockchain is an open decentralized database where users can view all transactions. The exchange of cryptocurrency for chips and bets happens through smart contracts
Blockchain is an open decentralized database where users can view all transactions. Cryptocurrency is exchanged for chips and bets through smart contracts.
These are computer algorithms that keep track of obligations on the blockchain. Each bet is a separate deposit that is transferred to the smart contract address. In case of a win, the user instantly receives a payout. Thanks to open source, blockchain experts can audit and players can keep track of not only their own but also other people’s winnings.
Full-fledged gambling games are being created on blockchain. According to DappRadar, there are more than 1,000 such applications on the market. Some of them are full-fledged casinos on ETH, BTC, USDT, which provide access to different games.
All bets are recorded and are publicly available. This makes it possible to check the real percentage of refunds, rather than relying on audits by independent organizations or casino statements.
Which of these apps allows you to earn the most from cryptocurrency?
- Thundercore Hub
- EarnBet
- BetFury
- None of the above.
View results
On the benefits of online casinos on blockchain
Among the pros:
- Anonymity- to play, a user only needs to register or transfer money to a smart contract address. When creating a cryptocurrency wallet, the player does not need to provide documents, which allows you to maintain confidentiality.
- Transparency – all casino operations are in the public domain. This allows you to determine the real RTP and build new betting strategies. No legal casino puts data about all winnings in the public domain.
Manual for beginners: how to go to play in online casinos on the blockchain
If the user has never heard of bitcoin, he may have some difficulties. Cryptocurrency is a digital asset that has no physical analog. To use it, it is enough to create a wallet, but first it is better to find a suitable game.
Thundercore Hub is a simple mobile application
Serious Dice is the most popular game in this app. More than 15,000 people play it per day. The volume of bets exceeds $20 thousand. The game is something like craps, but the user bets on more or less than a given value – the parameters are set by the player himself. Serious Dice boasts a high RTP – 98.5%.
To participate, the user needs to create an appropriate wallet. Serious Dice operates on the Thundercore Hub blockchain. On iOS or Android you can install the mobile app of the same name, which allows you to store cryptocurrency, replenish your account and make bets in other games. Many of them are duels with other users.
| Jelly Squich | An analog of the popular Candy Crash game |
|---|---|
| Galaxy Blocks | Modernized version of Tetris |
| Word Search | Word Search game |
| Math Wars | Solve simple equations for speed |
After registering, users receive 2 TT – enough for several bets. Thundercore Hub has simple quests with rewards. In the future, the wallet can be replenished through cryptocurrency exchanges, exchangers or use the internal exchange.
EarnBet
To bet on the blockchain, you don’t necessarily need to install special applications. EarnBet offers a simple registration on the site and provides access to 5 gambling games:
- Dice.
- Blackjack.
- Baccarat.
- Crash – the payout multiplier increases with every second, and the user has to manage to withdraw the winnings before they fall.
- HiLo – a risk game from slots that has migrated to the blockchain. The user has to guess whether the next card will be higher or lower than the previous one.
EarnBet Casino offers a quick registration. Instead of a password, a 24-word phrase is given – it will be needed to regain access. After registration, the user will receive 1000 FUN – tokens for playing in demo mode. You can make a deposit in popular cryptocurrencies – Bitcoin, Ethereum, USDT and others.
BetFury
BetFury is a hybrid casino that includes blockchain gambling and slots from well-known providers: Endorphina, 1X2gaming, Playson, etc. Among the games using smart contracts are:
- Keno.
- Plinko.
- Circle – an analog of Wheel of Fortune.
- Miners – similar to the sapper from Windows.
- Coin Flip – heads and tails.
Conclusion
Such casinos show the practical usefulness of the blockchain. It is needed not only to create new cryptocurrencies, but also services whose honesty is not to be doubted. This opens up new opportunities for gambling operators. They no longer need to obtain licenses from regulators, and users are personally convinced of the high RTP – they can objectively assess the chances of winning.