Win Crypto Gambling
By employing blockchain technology, casinos can not only tackle challenges; they make the platform safe, secure, and fair. For starters, casinos that embrace this technology upload their financial documents on a blockchain ledger granting users access from anywhere in the world. The tech allows developers to create a custom blockchain-based wallet for gamblers. They also create unique casino tokens for their platforms.
Punters gambling in these casinos use the crypto tokens to cash in and cash out and later exchange the same via fiat or cryptocurrency of their choosing. In other words, a blockchain casino serves as a cryptocurrency casino.
Blockchain-based casinos use a combination of permission/access management KYC database with Smart Contracts. The latter serves as pre-programmed automated actions that take part in the blockchain platform. Smart Contracts enable employees to gain minimal, transparent, and secure access to gamers accounts. The process makes it easy for transactions to go seamlessly throughout the gaming process.
When a player borrows from another, the process is registered, transparent, and secured, the technology enables it to conduct the process through several clicks via a mobile app. Gamblers that desire to cash-in or cash-out scan a QR code that verifies transactions either through facial/fingerprint recognition on an employee’s smart device app. The recognition tech is part of the blockchain software.
Every aspect above is managed through Smart Contracts within seconds; however, it doesn’t need any human intervention to succeed. Every transaction and user identity gets saved automatically on the blockchain ledger that is open to the casino and its users.
Blockchain Gambling Benefits
The Rise Of Single Blockchain Casino
Plenty of brick & mortar casinos have an online presence today; unfortunately, they run the two entities separately. Case in point, if a gamer visits a land-based casino to play Baccarat and wishes to continue the game online, they’re unable because these separate entities don’t share data.
Players are forced to create multiple accounts in the separate entities although a single company runs them. The issue spirals to other different segments in this industry, such as the accounting department. Traditional casinos don’t have any software for their accounting, while the one used in online casinos is outdated. Blockchain technology helps solve this issue by transferring all the data from online and brick & mortar casinos to a blockchain ledger.
Gamers can access services and info through PC and smart devices. The technology can come with either a tokenized currency or cryptocurrency for facilitation. Smart Contracts ease management access at different points, making it easy for users to navigate the platform. In essence, a blockchain casino is a conduit between the physical and digital gambling worlds.
Blockchain-Powered Crypto Gambling
To guarantee responsible gambling, jurisdictions such as Macao, introduced daily gambling limits. Unfortunate, since both land-based and online casinos work separately, the law only works half-way. Once gamblers reach their limit in a brick & mortar casino, they can switch to the online space and continue.
Casinos that switch from traditional gambling platforms to blockchain solve the issue. When both casino platforms are integrated on a single blockchain ledger, it becomes possible to enforce the gambling limit policy. The time punters spend in the casino is logged into an only blockchain, and once they reach the limit, they’re locked out of all platforms.
For the land-based casino, doors can lockup automatically since they will be connected to the blockchain’s security system. Cameras will recognize players that have reached their limits and ensure that they are not allowed to gamble anymore.
The concept can be shared with the entire gambling industry in a particular jurisdiction after all operators agree to join the open blockchain ledger. Besides, blockchain gambling helps players limit their gambling. They can choose to self-set their gambling limits by pressing a button on the casino’s app. The money in their accounts gets frozen by Smart Contracts until the term lapses by the law. The funds cannot be accessed by anyone, not the player or the casino.
You Do Not Need To Gamble To Win At Crypto Casinos
Casinos make vast profits every month and the owners of these platforms have made billions of dollars over the years. Imagine if instead of the profits going to the owners, they when to all of the gamblers that take part. The good news is that this is now possible thanks to innovations in blockchains such as TRON. It is uniquely designed so that all those who purchase the developer’s proprietor token get a share of profits equal to the number of tokens they own. Make sure to check out our Tronext review online as it is one of the best for this type of dividend program.
Keep All Of The Winnings
If you have a big real money win at an online casino you will lose up to 5% of the profits in the financial transaction fee to withdraw money from most of the traditional casinos. Crypto gambling is different as no fees are attached so that means you will make more money. As well as saving money you will also get your winnings fast as cryptocurrency transactions show up instantly and are completed generally within 2 hours. They are also not applicable for taxes depending on which country you’re accessing from so make sure you check out the legislation where you reside.
If you want to win bigger, keep more of the winnings and have better odds, you need to start playing at crypto casinos instead of real money sites. There are many new ways to profit, such as blockchain community profit-sharing platforms and with plenty of free crypto tokens available when you sign up, make sure you visit our recommended reviewed cryptocurrency gambling websites.