Published on December 8th, 2018 | by Sunit Nandi0
Blockchain Is Disrupting Online Casino Industry
In the recent era, online gambling business has turned out to be one of the most successful industries that are expanding by leaps and bounds. Not only does the gambling business makes players attracted to it but the accessibility of a plethora of online sites offering ample games is another major factor that has made this particular sector even more worthwhile. And, it is mainly because of the advancement in technology that has led to the establishment of online casino sites. The online casinos are taken over by phone casinos making it easier for the people to play their favourite slot game anytime they wish.
However, people have witnessed a lot of states when these online gambling sites provide an unfair program for the players with around 1%-15% house edge plays. And you would be amazed to know that there exist thousands of online casinos that were closed down after getting caught with so many foul games. Now, after the constant reports investigated against online casinos, there has always been a need of a decentralized gambling system that would prohibit unnecessary exploitation of the players.
Fortunately, with the establishment of blockchain casinos in the current times, all these scams and dirty tactics imposed by the traditional online casinos have come to an end. Unlike traditional casinos that used to provide about 10% of house edge games, this specific blockchain gambling system doesn’t rely upon the housing edge games to make a profit.
Blockchain Casino to support a decentralized system
As blockchain casinos support decentralized system, there is no chance of the third party to get access to the confidential data and inappropriately control the games. With this, the entire games played over online casino gambling websites have turned more transparent and fine. Furthermore, you are not needed to worry about your funds kept in the system now as all your deposited funds are safe concerning blockchain smart contract.
And, it is just because of the strict terms and conditions implemented in the blockchain industry that have made it quite tough for online casino investors to engage in fraudulent activities.
What’s more? Unlike traditional online casino games where most of the details of your game weren’t exposed to the people, the blockchain online casino supports precision in the games. The entire information about your online gambling performance is publicized, making it safer, fair, and not to mention transparent.
Safe and anonymous transactions
Basically, online casinos would ask players to make all sorts of transactions through their debit/credit cards or Net banking making it compulsory for users to enter their confidential details. Though not all, some online gambling sites might not be safe to enter your sensitive data. Here, the blockchain casino has not only cut short the traditional casinos by simplifying the transaction procedure of users yet it guarantees secure as well as anonymous deposits. As you aren’t needed to enter your card details, a third party would never know the origin of your funds.
Easier transfer of winnings
In general, it often takes a long time to process your earnings to your bank account which makes the withdrawal a tedious procedure. Blockchain has successfully interrupted the traditional online casinos by providing users with easier accessibility of their winnings. Usually, the payout is made as soon as you win or within a short time frame.
This way, the blockchain gambling industry has disrupted traditional online casinos. The players are not only facilitated with a safe and transparent platform to invest their funds in but the easier accessibility of their winnings has played a vital role in boosting their morale.