Cryptocurrencies and decentralized technologies have a lot of applications in everyday life. One of the most popular areas in which the blockchain is being introduced is gambling: the majority of decentralized applications in large networks work in the field of gambling. We will understand how the blockchain changes this industry and find out the advantages of decentralized casinos over traditional ones.
Decentralized casinos
- Access to the game from anywhere in the world
- Residents of many countries cannot play in casinos because of their legislation.
- For example, access to poker rooms is very limited in the US. The players of several states can play only in local pools of licensed establishments.
- Blockchain solves these problems: due to cryptocurrency, anyone can play in any decentralized institution at its discretion, and the state does not have any necessary mechanisms to ban.
Quick withdrawals and deposits
Casinos built on the blockchain, often have instant money withdrawals and account replenishment. This significantly improves the usability of an online casino, especially for players who may need an urgent withdrawal from a deposit or those who are concerned about the safety of funds. Centralized operators often set a withdrawal period of several days, the
first withdrawal may take a lot of time.
Also, blockchain allows you to avoid possible problems with financial institutions. Cryptocurrency cannot be frozen by the bank during the withdrawal, and nobody can require confirmation of the source of money from the player. The policy of banks is constantly being tightened due to the laws on combating terrorism and money laundering, which will make blockchain casinos increasingly attractive.
Transaction anonymity
Fans of gambling on the Internet often pay attention to the protection of information about themselves: such entertainment is prohibited in some countries, but in others the access to gambling services is limited. Some players are afraid of problems with the law or simply don’t want everyone else to know about their hobby.
In this case, the blockchain comes to the rescue. It is information, which is not given to any third parties, including government or banks. Many decentralized casinos do not require user data transfer at all, the registration requires only the email address and wallet number. In traditional casinos, the player has to transfer a large amount of information about himself, including the name, bank account number, home address and telephone number. Also, this data must be confirmed for withdrawing money, which is a problem for a lot of people.
Transparency
Thanks to decentralized technologies, GClub on web built on the blockchain have transparent game algorithms that any client can familiarize with. It makes them are attractive to those players who think that traditional establishments work against customers. Even the most famous gambling operators are often blamed for it.
Good bonuses and jackpots.
Decentralized technologies make it possible to reduce the cost of maintaining the site of the institution, its servers, eliminate the need in licensing activities. Therefore, companies that own them may offer bonuses and larger jackpots. They also do not need to use intermediaries in financial transactions, which further reduces costs.
Is blockchain the future of gambling?
While there are not so many players in blockchain establishments, they have not become a familiar format for the general public. However, the situation may change over time: online gambling is becoming increasingly popular. The game industry develops innovative solutions, so you can count on the massive introduction of decentralized technologies in this area.