How The Blockchain Casino Games Ecosystem Works

One of the most profitable industries in the world is gambling and the huge profits available for owners of casinos has created massive innovation to attempt to become the leader in this field. Only a tiny percentage of gamblers are able to turn a profit due to the mathematical equations ensuring the winner is always the house. Blockchain casino games are changing this equation however and making it possible to that those that use the right strategy can finally walk away winners. On top of that crypto, tech is been used to stop criminal operators from stealing money from players which is a requirement that has been needed since the arrival of online casinos.

Casinos have been around for hundreds of years and in the early days of land-based models, it was a regular occurrence that operators would cheat. They used to tamper with games such as roulette by placing magnets under the table but in the modern world, this is no longer the case due to the harsh consequences of cheating by regulators. Instead, owners of these establishments rely on the house edge which in the math behind each game that guarantees a positive outcome over the long-term. Instead of attempting to manipulate the outcome they offer free giveaways such as drinks and food to attempt to keep the players at the table longer so that the house edge ensures a win for the casino.

Online casinos are not able to offer incentives such as drinks and food on the house to attempt to keep gamblers players. Instead, they offer bonuses such as free spins and large welcome bonus rewards. Many of these sites, however, have attached unfavorable terms in the small print to manipulate players out of their hard earned money along with the fact that it is easier for them to manipulate the outcome of games when playing web versions.

How Blockchain Casino Games Are Eliminating Fraud

There are two main factors that enable blockchain casinos to eliminate online gambling fraud. The first is the fact that they are decentralized which means the operator can not alter any of the set procedures along with touch the players crypto. The second is that the outcomes of the games are produced by the immutable public ledger which provides 100% transparency and trust. These two key features together make it impossible for the games to be rigged or any manipulation of funds to take place.

Smart Contracts Game Changer

All the new blockchain casino sites are powered by their own cryptocurrency which without would mean it is not possible for them to be decentralized gambling platforms. It makes transactions possible in all parts of the world along with zero free and instant transfers. Cryptos like Ethereum and EOS are providing the next generation of crypto that enables processes to take place which is not possible with Bitcoin. The main key feature they hold over BTC is the fact that smart contracts can be utilized.

Smart contract casino and gambling technology is a major revolution in the space as they enable the full automation of all the processes in a decentralized environment. They are pieces of code created by developers that can carry out human processes of verification and checks. It means that rather than employees having to verify bets, these contracts can find the information with 100% accuracy.

They have been utilized by blockchain gambling platforms such as Trueflip.io to power a brand new lottery game and are going to play a vital role in shaping the industry going forward. It is well worth taking advantage of the Trueflip bonus to see first hand how smart contract gaming works.

Final Thoughts

Blockchain gambling technology is progressing fast and now with a smart contract that is powered by ETH, EOS along with other cryptos the industry is improving for both gamblers and developers. Players can enjoy features such as anonymity, transparency, guaranteed fairness and even become part of the house by taking part in bankrolling opportunities. Developers can enjoy the benefits of full automation via smart contracts along with the massive cost saving that this tech provides. It is a win-win situation for all involved.