Gambling blog

How Blockchain Technology Is Changing The Casino Business

Casinos are always ahead of the game by using new technology to gain a competitive advantage in one of the world most competitive sectors. The internet was the first major revolution in the industry which made it possible for gamblers to gamble without having to visit a land-based establishment or high street bookmakers. Things have changed a lot since the launch of the first online casino and now mobile phones are the most popular device to play gambling games. Now thanks to the blockchain and cryptocurrency the industry is getting a much-needed facelift which will greatly benefit players.

 

#1. Blockchain Gambling

Most online casino games run on a random number generated software which provides a fair platform for gamblers. The only problem is that greedy and rogue operators with extensive knowledge are able to manipulate these programs so that they are guaranteed to win by exploiting customers. The industry has been needed to be clean up of these bad casinos and thanks to the blockchain they are all about to be eliminated. Unlike RNG software the blockchain is open source and every transaction is completely transparent with no way of operators altering the outcome.

 

#2. Casino Profit Business Model

The business model that casinos online implement has not changed since they first launched. They have worked by using the house edge to produce profits which means that players have less of a chance of winning due to the casino’s requirement to make a profit via the house edge. New smart contract based casinos that run on the Ether network are changing the profit business model though. They are able to offer games that have a zero house edge and instead make their profits through the rise of their own crypto which is used to power the games.

 

#3. No Middle Man Required

The costs of starting up your own online casino along with the running costs are extremely high due to all the regulatory and payment requirements. Casinos that use smart contracts and run on the blockchain have created a solution to this by using the code protocol to carry out all the actions that human operators are currently required to do at online casinos. It means now it is possible for a gambling site to run autonomously which greatly reduces costs which are then passed onto the player via reduced house edge games and free bonuses.

 

#4. Player Privacy

One of the biggest concerns of gamblers when playing at online casinos is that their personal details could be exploited. When signing up to a traditional casino, players are required to enter all of their personal details including banking. If a site is not fully secure this can be problematic due to the possibility of hackers gaining access and using them to commit fraud. Blockchain casinos do not require any of these details as everything is done anonymously so they are far more secure than what is presently available.

 

Conclusion

The speed of development of blockchain based gambling games is on the rise and billions have been invested in the hope of creating a new business model that greatly improves the traditional methods. It is still early days but the signs are that this will become mainstream and the number one way to gambler within the next decade.

About the author

Sandy Platini

328 Comments

Click here to post a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • I leave a comment whenever I like a post on a website
    or I have something to add to the discussion. Usually
    it is caused by the sincerness communicated in the article I read.

    And on this post How Blockchain Technology Is Changing The Casino
    Business – Betting Guide And Review. I was actually moved enough to
    leave a leave a responsea response 😉 I do have a couple of questions for
    you if it’s okay. Is it simply me or do a few of these remarks come across as if they are written by brain dead folks?
    😛 And, if you are posting at other places, I would like
    to keep up with you. Would you make a list the complete urls of all your
    community pages like your Facebook page, twitter feed, or linkedin profile?

  • You really make it seem so easy with your presentation but I find this topic to be really something which I think I would
    never understand. It seems too complicated and very broad for me.

    I’m looking forward for your next post, I will try to get the hang of it!

  • Hi there! Quick question that’s totally off topic. Do you know how to
    make your site mobile friendly? My blog looks
    weird when browsing from my iphone 4. I’m trying to find a template
    or plugin that might be able to resolve this issue. If you have any recommendations, please share.

    With thanks!

  • After I originally left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox
    and now whenever a comment is added I get four emails with the
    same comment. Perhaps there is a means you are able to remove me from that service?
    Thanks a lot!

  • Everything said made a lot of sense. However,
    think on this, suppose you wrote a catchier title?

    I mean, I don’t wish to tell you how to run your website, but
    what if you added a title that grabbed people’s attention? I mean How Blockchain Technology Is Changing The Casino Business – Betting Guide And
    Review is a little plain. You might peek at Yahoo’s home page and watch how they create news titles to grab people to click.
    You might add a video or a pic or two to get people
    interested about what you’ve written. Just my opinion, it would bring your posts a
    little bit more interesting.

  • When someone writes an paragraph he/she maintains the image
    of a user in his/her brain that how a user can be aware of it.
    So that’s why this piece of writing is outstdanding. Thanks!

  • First of all I would like to say terrific blog! I had a quick
    question that I’d like to ask if you do not mind. I was
    curious to find out how you center yourself and clear your mind prior to writing.
    I’ve had difficulty clearing my mind in getting my thoughts
    out. I do take pleasure in writing however it just seems like the first
    10 to 15 minutes tend to be wasted simply just trying to figure out how
    to begin. Any suggestions or hints? Thanks!

  • Hi! I’m at work surfing around your blog from my new iphone 4!
    Just wanted to say I love reading your blog and look forward to all your posts!

    Keep up the fantastic work!

  • I am not sure where you are getting your information, but great topic.

    I needs to spend some time learning much more or
    understanding more. Thanks for magnificent info I was looking for this info for my mission.

  • I loved as much as you’ll receive carried out right here.
    The sketch is attractive, your authored material stylish. nonetheless, you command get got an impatience over that you
    wish be delivering the following. unwell unquestionably come
    more formerly again as exactly the same nearly very often inside case you shield this hike.

  • You really make it seem so easy together with your presentation but I in finding this topic to be
    actually one thing that I believe I would never understand.
    It seems too complicated and extremely broad for me.
    I’m taking a look ahead on your subsequent publish, I’ll try to get the
    hang of it!

  • Google

    That may be the end of this report. Right here you will locate some sites that we assume you will appreciate, just click the links.

Language