Introducing: Crypto Online Gambling Platforms

The online gambling industry has enormously rise and continuously growing these days. With the help of the invention of smartphones, these advancements, including the world of gambling, are highly noticeable. In connection to this, the cryptocurrency also makes its way to be a part of this growing industry.

Bitcoin offers greater privacy and international access than that of the conventional payment mode in gambling.

Moreover, as part of the growing industry of online gambling and cryptocurrency, there is a growth of crypto platforms for gambling.

Different Gambling Platforms for Cryptocurrency

The following crypto gambling platforms allow you to wager the bitcoin and other assets as part of modern-day payment mode. Payment transactions under this method is fair and safe.

Fortune Jack

The oldest existing bitcoin casino, Fortune Jack has more than 1,500 games to offer. Aside from that, they have tons of BTC perks for new signed-up members.

1xBit

This cryptocurrency gambling platform has many more to offer. From high accessibility to numbers of games to the utilization of more than 50 various types of cryptocurrencies, you can digitally enjoy gambling with this platform.

bitStarz

The thing that bitStarz boasts for is its highly experience staffs in the world of online gambling. Because of that, this online cryptocurrency online gambling platform garnered the excellent support from most casinos online.

Playing Poker With Cryptocurrencies

Cryptocurrencies are intended as a means of payment. Can they ever replace traditional currencies? In rare cases, they already do this, but mostly in their own system on the Internet: for example on platforms on which you can play poker online (인싸포커) and use your own cryptocurrencies. Will you soon be playing Texas Holdem Poker and only betting Bitcoin or other cryptocurrencies: Is that the future?

Cryptocurrencies are more than an investment object

Cryptocurrencies are designed as digital means of payment on a blockchain basis. In simple terms, “blockchain” means: Every transaction with the currency is entered in an ever-growing list (blockchain). The list thus resembles a chain to which new links are constantly being added.

As a rule, the booking system is stored locally on many computers. It is designed in such a way that it always remains clear which version of the list is the current one. Decentralized storage is an important part of the security concept because it makes manipulation very difficult.

Playing poker with cryptocurrencies?

They claim that you can pay with a cryptocurrency in a great many places would be at least an exaggeration. But they do exist and there are not so few: bars, hotels, and shops that accept a cryptocurrency as a means of payment. And they are also sometimes accepted on digital platforms. One example is online poker platforms. At this point at the latest, however, you will have to ask yourself what benefits you get from playing poker online with a cryptocurrency instead of traditional money.

The advantages of cryptocurrency are above all relatively low fees for transactions, a high level of security, the possibility of easily entering a game anywhere in the world, and the anonymity of payments. The latter means that you don’t have to use any personal data at least when making payments in order to play a game of Texas Holdem Poker or Seven Card Stud on the Internet.

Another advantage is the lack of regulation for cryptocurrencies. But here you have to be careful: cryptocurrencies are still relatively young. Many states do not yet know exactly how to deal with them. But they are concerned with them. There is therefore uncertainty here as to which regulations they will develop and what exactly this will have consequences.

A separate currency for poker online

Some concepts for playing poker with cryptocurrencies go far beyond accepting cryptocurrencies as one of several possible payment methods. Some platforms on which you can play poker have switched to working with their completely own cryptocurrency. Such currencies have names like Breakout Coin or CoinPoker (CHP). Such platforms for poker online also name anonymity as well as fast payouts and transactions as advantages of the cryptocurrency. So far, the providers have tended to occupy niches. But they are by no means small and completely insignificant. And it will be interesting to follow their path further.

Is that the future?

It is currently difficult to imagine that cryptocurrencies in online poker will completely or at least almost completely replace the game of classic currencies (US dollars, euros). On the other hand, you see the start of a wide variety of projects behind which serious teams are behind and you think: something is happening. Something exciting.

Much may depend on how the discussion about cryptocurrencies develops in general. As long as they are primarily seen as an object of speculation, with which at best one can earn a lot of money in a short time due to rising prices, their acceptance as a means of payment is likely to remain limited even on online poker platforms.

On the other hand, something has started to move with cryptocurrencies, which could lead to a renewed discussion on a broader basis around fundamental questions: What is money actually? And what and who determines its value? And that definitely has the potential to change online poker forever. And not just online poker.

Blockchain Is Changing The Future Of Online Gambling

The online gambling industry is an industry that continues to grow every year. Despite the positive growth, the industry faces many important challenges. One of these challenges is optimizing user trust by providing more transparency about profits and losses. In addition, the market competition is fierce, and the profits of small businesses are decreasing.

Crypto Casinos: Making Gambling Honest With Blockchain

In recent years, “Bitcoin Casino” has become more and more popular. These casinos allow cryptocurrency trading, but the underlying gaming software is still a centralized model. As a result, some operators may be detrimental to players by not providing enough transparency about important issues like house margins and spending.

But this is not just doomed to fail. Technology keeps evolving and offers new opportunities as well. Although staff costs decrease as the use of chatbots increases, the biggest technical challenge facing online casinos today is blockchain.

Online casino games

The biggest advantage that blockchain offers in online gambling (situs judi online) is transparency. Instead of performing transactions in a black box, you can record transactions on a blockchain ledger. Users and casino operators can use digital tokens to take advantage of instant payments. This way you don’t have to share your sensitive bank information online.

There are already gambling sites that currently offer a blockchain platform, and anyone can easily open their own online casino. This is a complete turnkey solution. Operators simply need to add their own brand and introduce the casino to potential users. Game developers can also use the platform to release their games to a larger audience.

Such gambling sites are developed on the Ethereum blockchain and use the ERC-20 FUN token as the platform’s payment currency. Because the whole platform is decentralized where funds are treated as “smart contracts”. This means that these sites will not take over the interests of users or operators.

As soon as the operator begins getting players, they could receive commissions at a 10% percentage of commissions charged by other online casino platforms. Pay immediately. So operators no longer have to wait for the standard 30 or 60 days required by other platforms.

Sports betting

Another important growth market for the gaming industry is the sports betting market. As online gambling sites, there are sports betting sites that utilize the blockchain. The platform uses a model that is based on ‘social gambling’ so that users can bet on friends and other players instead of home.

They make use of blockchain technology to ensure transparency in the gambling process and related financial transactions.

By increasing confidence and profitability, these platforms help to open up new markets for the online gambling industry and promote further development of the industry.

Blockchain users are focused in online gambling

If you are a gaming club owner and not a gamer you know too well that playing at an old-style casino is always a very money-making trade. This industry has remained in the gray area between crime and legality. However, with the advent of the internet, the situation has changed. In no account casinos which have all the required gambling permits, it is 100 percent secure and ensures that with just a little luck the gambler can make a profit.

The difference between online and offline

The stories of casino owners placing magnets on roulette in their land-based gambling rooms are in the past. If you cheat players as a casino operator these days, the consequences or penalties are so serious that taking the risk is not worth at all. As an alternative, the modern online casino depends on the familiar house edge, which basically means that the online casino is more likely than the player to win in every game in the long run. In order to maximize the profit and keep the players in the game longer, some online casinos provide bonuses, which are intended for both existing and new customers.

Some theory combined with game practice in blockchain

The theory is very simple: the blockchain as an immutable and decentralized and system shows all transactions and behaviors of players and casinos. This means that, if interested, the player can easily check whether the game has been exploited or not. The decentralized arrangement of the blockchain stops casino owners from influencing data records. Another important feature is that a blockchain online casino can be used with cryptocurrency.

Cryptocurrencies make cross-border transactions easy and fast and add anonymity that many gamers really appreciate. The introduction of such intelligent systems in online gambling has brought about real changes. There is no possibility of fraud when operating games or an online casino based on such a system, as all games and payments, are transparent and automatic. The majority of these casinos utilize the Ethereum blockchain since it is the initial cryptocurrency to launch smart contracts.

Even though cryptocurrency provides online players more accessibility, it can be said that guaranteed fairness and transparency are still the greatest advantages of blockchain technology in an online casino. The use of blockchain makes the work of all operators and also players easier.

Blockchain in the World of Gambling

The blockchain technology is an internet-based accounting system that maintains files of online transactions. It operates by making use of the computer connections that lead to a decentralized system. Nowadays, there are lots of bitcoin gambling companies that use blockchain for an easier bet placement and cashing out.

Advantages of Blockchain Technology in the Gambling Industry

Actually, the introduction of the blockchain technology had incorporated numbers of benefits in the gambling world. And not only that, but it also serves as a big player in disrupting the defective concepts about technology. Below are some of the reasons why blockchain technology is beneficial for online gamblers:

Transparency

One of the functions of blockchain is to keep records of the transactions within the platform. With this, it is a transparent system letting you monitor your bet, your payout, the result of the game, and the number of your winnings.

Speed of transaction

The transaction using the blockchain technology is incomparably fast than the other online casinos that are not utilizing this kind of system. However, when it comes to the accuracy of the rate, it is actually the cryptocurrency which you will have to deal with.

The transaction speed of the blockchain technology is almost similar to the speed of light.

Anonymity

Blockchain technology also allows you to hide your own identity and keep it in private. Due to this, many online gamblers find online gambling a little bit secured.