Should You Play At A Decentralized Casino

There are lots of different laws and regulations around the world that aim to control gambling activities. In many parts, it is illegal to gamble which has created a huge black market with gamblers placing bets on unlicensed platforms to get around any blocks or bans. The blockchain has also added a brand new element to the sector as it provides a way for gamblers to bet anonymously thanks to its decentralized nature.

What Is A Decentralized Casino

A decentralized casino using the blockchains distributed technology to create a ledger of all bets placed on the network. This makes the transactions completely secure and means that no one is able to tamper or alter them in any way. Instead of checks and balances carried out by a centralized authority the blockchain network confirms each transaction using smart contracts. These are a programmable contract that can carry out set operations such as checking winnings/losses and approving payouts.

How An Anonymous Casino Works

Due to decentralization, it means that blockchain casinos are able to offer anonymous gambling. It works by users downloading the platform’s application so that they can connect directly to the network. Instead of registering personal details, users are giving a unique wallet address or are able to connect their own wallet to the system so that they can make a deposit and withdraw winnings.

How Are Payments Made At Decentralized Casinos

When playing at a traditional centralized platform, all payment transactions are handled by human customer service personnel. Decentralized casinos are powered by crypto and do not require any third-party to process the payments as smart contracts handle these processes instead. These are programs that are able to carry out checks and balances on their own in accordance with a rule set programmed into the contract and make payments without any interference with 100% accuracy.

What Bonuses Are Available At Decentralized Casinos?

One of the best things about decentralized gambling platforms is that they are designed around rewarding the user. There are many different types of bonuses such as free crypto casino tokens for players when they sign up for a new account. A prime example of this is the 100 free CHIP welcome bonus currently on offer at Coin Poker.

You will find the typical promotions such as free spins, welcome sign up rewards, matched deposit bonuses, etc. Also what is completely unique to blockchain-based casinos is that users become shareholders as there is no centralized operator. It means that all that buy the casino currency will get a share of the profits, determined by the amount they own. It means that to get rewarded you do not need to gamble as you can simply sit back and enjoy regular dividend payments.

Are Decentralized Casinos Regulated?

Cryptocurrency has been advancing at an extremely fast rate which has led to governments along with regulators not been able to keep up with developments. There are lots of different regulations of cryptocurrency around the world so depending on where you are located will determine if you are legally allowed to gamble or not. 

Is It Worth Playing At A Decentralized Casino?

If you want to enjoy the advantages that decentralized casinos provide you should definitely try so you can see the latest developments in the space. You can play with no risk by using the free crypto token gambling giveaways or look out for airdrops from new blockchain casino platforms. There are many available with dividend programs along with zero house edge games which you will not find at any traditional online casino so read our reviews to find one that meets your requirements.

Final Thoughts

Currently, the online world is dominated by companies such as Google, Facebook, and Amazon which all have centralized business models. Decentralized platforms put the users in control without any third-party involvement so they are community-driven. With user privacy becoming a major concern along with technology companies exploiting users’ data against them, decentralization will put a stop to this, which is why it is becoming extremely popular.