What is a blockchain casino and why do you need it?17 july 2019
If you are familiar with the gambling industry, then you know that jurisdictions, one by one, pull the plug on online casinos (not to speak of land-based gambling establishments). The payment channels are closed, the servers are exempted, and the already provided licenses are revoked. But the gambling market does not rest on laurels. On the contrary, it is growing rapidly. Just a few years ago, a new format appeared — a blockchain casino, which is a cut above all possible prohibitions, policies, and even hackers. So, let us get acquainted with this kind of the gambling establishment.
We would like to notice at once that Casino Market renders a full range of services on creation, customisation, and launch of gambling projects on the basis of a blockchain technology. And we will share our experience below.
Do you want to get an individual consultation on issues related to the blockchain casino? Contact us!
What do you know about the blockchain? This term is used now everywhere, even in stickers on lampposts. But what does it mean?
Imagine an account book. Each entry in it means that money was received or spent. And if we are looking at the whole page, we can put a value on, for example, the status of the company. But if we see only the last line, all financial flow until this point will remain under wraps. Including where the money came from, where they left, and who is responsible for this. There is also another way to conceal the financial flow: the forgery of previous lines.
So, the blockchain technology (its name in English was formed with the help of the combination of two words «block» and «chain», which can sound also like «a chain of blocks») guarantees that each block, figuratively speaking, a line in the account book, will remain unchanged, will not be deleted or hidden from an uninvolved spectator. Just imagine — the absolute transparency of all financial flows! It can be achieved easily: the whole chain, as soon as a new block is added, is copied to thousands of computers and is stored decentrally. And if someone tries to change one of the old blocks, this version of the chain will be rejected since it will not coincide with all other, identical, chains.
We hope that now you understand why more and more gamblers today choose casinos on the basis of the blockchain technology. Each user is sure that the game mechanics are set up in an honest and transparent way. And business owners, in turn, also maintain a high level of service because any person can check settings and the balance of a gambling platform.
The main advantages of the business dealing on the basis of the blockchain:
- Confidentiality is guaranteed. The platform can provide each user with the complete anonymity since no personal data is required for making payments in the cryptocurrency, except for a unique key.
- It is safer than in a bank. In a standard online casino, the administration can block the gambler's account, for example, when it sees a transaction in doubt. The blockchain-wallet can never be blocked.
- Less psychological reactance. For cryptocurrencies, very small transfers are allowed. For example, the bet can be only 0.0002 dollars, and gamblers are involved in the process deeper and deeper, without a fear of losing significant amounts of money. On the other hand, the website traffic is increasing, which also leads to higher profits.
- The absence of commissions. You can forget about 1% that needs to be paid to the bank!
- A blockchain casino can be opened in any country worldwide. Seriously. Even in those countries where gambling is banned, projects on the basis of the blockchain can safely exist and develop since they do not fall within any jurisdiction.
The main settlement currency in gambling establishments of this type is bitcoin. However, in the near future, other cryptocurrencies will certainly be available as well. Along with this, in some casinos, there is still an opportunity to bet using traditional currencies. Both ways of paying winnings to players work fine, and the very fact of the presence of an ability to play on the cryptocurrency significantly increases the level of loyalty and the attractiveness of the website.
Despite all the assurances of security, a blockchain technology still raises questions among many people. In most cases, it is because of the complexity of the technology. But we, as a team, which is always aware of all changes in the gambling market, have our own statistics. We see that those people who abandoned «grey» schemes of earning money and opened a blockchain casino have begun to earn, on average, 13% more.
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Contact us, and we will choose the option, which will be perfect for you.
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