Blockchain Technology Reshaping Casino Games: A Look at Crypto Gambling

Bitcoin GamblingBy Lars Holmstrom.

The online gambling industry has been supporting cryptocurrencies since the early days of Bitcoin. Back then, most people didn’t fully understand the power of Blockchain. Now, every industry is exploiting the technology.

Blockchain stores data in a decentralized, transparent ledger. It is secure, transparent, and immutable. This technology also features tools developers are using to reshape online casinos. Find out more below.

Crypto Casinos

These days, it seems like a new crypto casino opens every month. The explanation is that there’s a high demand for online casinos that accept Bitcoin as a means of payment.

Truth be told, crypto casinos don’t support Bitcoin alone. They also accept altcoins like Ethereum, Solana, Ripple, USDT, and Bitcoin Cash. Some of them even support meme coins like Shiba Inu, Pepe, and Dogecoin.

Are crypto casinos genuine and trustworthy? The short answer is that you can find a genuine and reliable crypto casino. All you need is to check for the right features.

Look at a casino’s license details. Choose a licensed site. Check its games, payment methods, bonuses, and website security features. Also, read more about its reputation from review sites.

Provably Fair Casino Games

Blockchain technology allows developers to create slot machines and virtual table games that are provably fair. These games work like standard casino games—based on pure chance.

However, the seed algorithm used to create winners in a game is generated and stored in the blockchain. Now, everything recorded on the blockchain can be accessed easily.

You can pick out a slot machine and generate the seed algorithm needed to trigger winning symbols. In doing so, you can’t be scared of gambling online. You’ll have trust in casino games knowing they’re 100% fair.

Conventional casino games don’t reveal their seed algorithms to the public. Software providers reveal the Return to Player (RTP) of specific games. But there’s no way for players to prove these games have the specified payout rate.

In all fairness, regulators like the UK Gambling Commission and the Malta Gaming Authority audit casino games for fairness. Also, some casinos invite independent auditors to audit games for fairness.

Crash Gambling Games

Online gambling developers are always looking for ideas to excite casino fans. The latest trend in the industry involves games of chance that challenge you to bet on a multiplier.

Take the Aviator game as an example. It lets you simulate flying a plane. It’s a simple game with a line graph as the background. The game also features a multiplier that increases while the plane is flying. If the plane crashes, the multiplier stops.

If you want to make money from this crypto game, your job is simple. Bet on a multiplier. For example, you could bet $2 on the multiplier hitting 2.5x before the plane crashes. If you’re correct, the game pays you 2.5x your stake.

Being a game of luck, there’s little you can do to increase your chances of winning. Your best shot is to find crash gambling games with the best payouts. A high payout means a game triggers winning symbols regularly.

Crypto Casino Bonuses

Online crypto casinos are incredibly generous with bonuses. You see, most casinos attract you with a small bonus worth $100 or $200 maximum. Crypto betting sites lure you with Bitcoin.

They can give you 1BTC as a bonus if you’re willing to deposit a similar amount. Think about it. One Bitcoin costs $30,000 at the time of writing. If bonus terms didn’t exist, you could spend a year gambling with your bonus only.

Unfortunately, every good bonus comes with terms and conditions. Wager requirements are the most important condition. They dictate the number of times you must roll over a bonus.

Choose a bonus with a small number of rollover times (40x or fewer). Also, consider the validity time, withdrawal limit, and game weighting. The rules should be friendly.

Another factor to consider is the number of bonuses you can claim at a casino. Far too many sites have amazing welcome bonuses but no loyalty bonuses. Without loyalty promotions, you’ll need to rely on your hard-earned cash for betting every time.

Peer-to-Peer Betting

Blockchain technology is reshaping every aspect of online gambling. That includes sports betting, which has always been centralized. Peer-to-peer betting eliminates bookmakers.

This means you bet on sports against a fellow gambler directly. Usually, you create a wager and your preferred terms. Let’s say you think England can defeat South Africa in an upcoming rugby match.

You can bet $10 on England to win. A fellow bettor could bet a similar amount on South Africa. If you win, you take your opponent’s money. Of course, you also receive your initial wager.

By eliminating an intermediary, peer-to-peer betting delivers more money to gamblers. There’s no bookie to take a cut from every bet. Also, if you lose, the money doesn’t enrich a sportsbook. It goes to a fellow gambler.

Some peer-to-peer sportsbooks allow bettors to create odds for games. If you bet $10 on a predictable match, someone could risk a lower amount to tempt you into agreeing on a bet. This ensures everyone who creates a bet has a chance at someone willing to place an opposite wager.

Borderless Gaming

Perhaps the biggest benefit of Blockchain technology is that it’s borderless. There’s no place in the world you can’t access crypto. All you need is an Internet-connected device and knowledge about how to buy Bitcoin.

Many casinos wouldn’t be supporting crypto if it were limited to a specific geographical area. Instead, crypto allows people to access online casinos no matter where they live.

Crypto’s decentralization is a boon for people who live in countries with no online casinos. It allows them to gamble through foreign casinos. Since it is privacy-oriented, crypto allows people to gamble without revealing it to others.

Another benefit of crypto is that it’s a lucrative payment method. It’s fast and has low fees. In fact, it’s cheaper than bank transactions and credit cards. It also supports flexible limits, allowing people with small and huge budgets to transact conveniently.

IMAGE CREDIT: Unsplash.com

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