Edgeless Blockchain Casinos
Not many people know of the existence of edgeless casinos, however, sooner rather than later, such casinos will start popping everywhere. In short, in edgeless casinos, there are no house edges, an aspect that brings down the level of risk exposed to punters. Blockchain technology is the platform that powers these casinos, through its well-written gaming software. Smart Contracts are set up between the casino and players through a cryptographic code which promotes the following benefits…
- Transparency: The blockchain technology platform guarantees gamers that the online operator plays by the rules. Casinos no-longer withholds info about gambling algorithms thanks to Smart Contracts since they gain access to all the data through a public ledger.
- Stakes: Blockchain-based edgeless casinos only allow cryptocurrencies to use since they promote the exchange between punters and operators.
- Running Costs: Due to the low blockchain running costs, many players prefer playing in these casinos as opposed to casinos of old where withdrawals and deposits attract a huge payment processing fee.
- Peer-to-Peer Gambling: Smart Contracts make it easier for gamers to connect with other players so they can use a betting exchange and set up rules to govern their gameplay without violating the preset regulatory rules.
What’s The Purpose of Edgeless Casinos?
For most gamblers, they fail to realize that the casinos’ primary purpose is to generate profits for the operators. Traditional casinos create the advantage by setting crazy house edges tilted in their favor.
Thankfully, in edgeless casinos, this is eradicated, thus allowing gamers to take with them a handsome amount after winning. So you would ask, what are the benefits of setting up an edgeless casino, below we go through the things that both the investors and owners will achieve playing in an edgeless casino.
- Less Scrutiny and Lower Operational Costs: Fines set by gaming authorities are the reason huge gambling conglomerates set up a huge house edge.
- Enhanced Security: In as much as such fines can be avoided, following the strict rules prove difficult, especially when we factor in money laundering and fraud. Fortunately, blockchain technology ensures gambling platforms are secured and adhere to the set regulations, thus keeping authorities at bay.
- Fairness Promotes Growth: To remain on top, Edgeless casinos have the upper hand marketing themselves being fairer than the competition. By eliminating house edges in-game of chances such as roulette and poker, punters will flock these casinos more than they would go to traditional casinos.
It’s only in games of chance that the house edge in edgeless casinos is eliminated. However, in certain skill games such as blackjack, the operator sets up a 0.83% house edge that guarantees these casinos generate long term profits.
Worldwide Expansion
Current world events such as America under Trump, Brexit, and US-Iran tensions continue to contribute to the volatility in the global financial markets. Fiat currencies keep falling due to such pressures. For gambling platforms with operations in different jurisdictions, the volatility within the financial markets mostly impacts profits.
Bitcoin, alongside other cryptocurrencies, makes it easier for companies to trade through a single currency that doesn’t follow domestic and international currency volatility. Online gambling entities that result in crypto gambling will not suffer from such volatility, instead, they become more significant with punters flocking their platforms.
Final Thoughts
The casino world has been transformed for the better by the blockchain and this will provide players with an equal chance to win, instead of a guaranteed loss over time due to the house edge. It remains to be seen if edgeless casinos can take on traditional platforms but by providing gamblers with better odds, it should ensure that they dominate in the years to come.
