Many gambling operators offer deposits and withdrawals of winnings via cryptocurrencies. However, this does not mean that they operate and keep full records on blockchain, a decentralised database made up of a chain of blocks. The use of such a registry has created a new niche in the gambling market. The level of reliability is not ensured by regulators, but by open source – each user can be independently audited.
Disadvantages of conventional online casinos
Online casinos are controlled by gambling commissions and local regulators. If the first ones mainly monitor the operation of the operator itself, taking care to comply with the principles of fair play, the latter ones already limit the users. For example, online casinos are banned in Russia, so even if a site has a license from Curacao, customers have difficulties with depositing and withdrawing money.
How blockchain helps organize gambling
The competitive environment is forcing operators to improve the quality of services. However, legal casinos are stymied by the rules of regulators and gambling commissions. Illegal operators can go beyond the established limits. If they do not have a license, it does not mean that they cannot prove their honesty to the players.
Blockchain is an open, decentralized database where users can view all transactions. The exchange of cryptocurrency for chips and bets takes place through smart contracts. These are computer algorithms that monitor commitments on the blockchain. Each bet is a separate deposit, which is transferred to the address of the smart contract. If the user wins, he receives an instant payout. Thanks to open source, blockchain experts can audit, and players can keep track of their winnings as well as those of others.
Full-fledged gambling games are being created on blockchain. According to DappRadar, there are more than 1,000 such apps on the market. Some of them are full-fledged casinos that provide access to a variety of games.
On the benefits of blockchain-based online casinos
Among the pluses:
- Anonymity – to play, the user only needs to register or transfer money to a smart contract address. When creating a cryptocurrency wallet, the player does not need to provide documents, which allows you to maintain confidentiality.
- Transparency – all casino transactions are in the public domain. This allows you to determine the real RTP and build new betting strategies. No legal casino puts data about all winnings in the public domain.
Tutorial for beginners: how to switch to play online casino on blockchain
If the user has never heard of bitcoin, he may have some difficulties. Cryptocurrency is a digital asset that has no physical counterpart. To use it, it is enough to create a wallet, but first it is better to find a suitable game.
Thundercore Hub – a simple mobile app
In this application, the most popular is Serious Dice. During the day it is played by more than 15,000 people. The volume of bets exceeds $20 thousand. The game reminds something of craps, only the user bets for more or less than the given value – the parameters are set by the player himself. Serious Dice boasts a high RTP – 98.5%.
To participate, the user needs to create an appropriate wallet. Serious Dice game runs on the Thundercore Hub blockchain. On iOS or Android you can install the mobile application with the same name, which allows you to store cryptocurrency, deposit and bet in other games. Many of them are duels with other users:
- Jelly Squich, an analogue of the popular game Candy Crash.
- Galaxy Blocks is an updated version of Tetris.
- Word Search – word search game.
- Math Wars – solve simple equations on speed.
After registration, the user receives 2 TT – enough for a few bets. Thundercore Hub has simple quests with rewards. In the future, the wallet can be replenished through cryptocurrency exchanges, exchangers or use internal exchange.