When we talk about casinos, we mention the traditional ones the most. They have been capturing most of the gambling industry for a long time. Nowadays, blockchain technology is becoming very popular and is changing the way people gamble. We will also see how the blockchain casino changes modern gambling. How will they do it? In this article, we will look at the most worth-mentioning aspects of blockchain casinos and how they will change modern gambling. We will be mainly talking about the characteristics, features, and specifics of this futuristic technology.
What Will Blockchain Technology Change In Gambling?
It is startling how the image of the 90’s casinos still shapes our perception of gambling. When we hear “casino,” we imagine long tables, the sound of coins, and shining lights. However, in the last two decades, the situation has changed a lot. Online casinos are becoming more and more popular in comparison with the land-based ones. Because of the hectic lifestyle, people want to play their favorite games from home. Nearly all types of smartphones, laptops, and tablets have access to online casino games. And it makes the competition very hard for land-based casinos.
However, the type of casinos we will talk about will surpass all of them in terms of popularity and security. According to some estimates, the market value of these casinos will rise to more than 100 billion dollars in 2024. This technology will bring transparency, and trust in the online gambling industry.
What Are The Main Problems With Traditional Casinos?
While talking about this promising technology, we will start by saying what is most appealing about it. Firstly, we have to mention that it can be fully transparent when it is necessary. And why is transparency so important? Because it is common to see some conflicts between players and the casinos. And that leads to a lack of trust between both parties.
Even in the most famous casinos, a lot of things are unknown to the players. They do not know what is behind the interface of the game. And in that process, there is a chance that casinos may deceive the players in the payouts. For example, in online slot games, the players only see what’s happening on the screen, and according to that, they know whether they have won or not.
The casino games should have at least 80 percent of bet pool returns. The number may be up to 99 percent in the casinos with high RTPs. However, some casinos do not follow these rules and pay back to the players minimal winning amounts. They try to get away with it only by changing the domain. After that, they start again by attracting a different group of players.
Another important factor about these casinos is the lack and delay of payments. The players are in an online casino for money. Other than joy and entertainment, they also want to earn more and more. But even if they win, they are having constant problems with receiving their payments as cash.
We can not say that every reputable casino has such problems. However, in some cases, the withdrawals take more than thirty days. Reputable casino websites should take care of such an issue and make sure their customers are happy. If such problems consistently occur, the players will leave the casino sooner or later. Blockchain casinos may solve all of the problems mentioned above.
We have mentioned that randomness is crucial in the casino business. Online casino providers try to look as transparent as possible and convince players of the slot machines’ randomness. It means everything is random, and every machine is equal in terms of winning. For example, some people may think that some slot machines bring more money, but that is a myth.
However, in some cases, casinos alter the RNG mechanism in their favor which prevents the players from winning large amounts of money. This makes the house better off while customers remain dissatisfied.
In advertising, it is common to see that companies try to brainwash people. While doing that, they give false advertisings to attract customers. In the case of casinos, you may see hundreds of bonus promises. But when it comes to after registration and login processes, you see none of them. Of course, top online casinos still take care of this issue as it directly affects their popularity. However, it remains an issue in traditional online casinos.
Blockchain Casino To Make All The Difference
Considering all the problems above, we can say that crypto casinos are the future of online gambling. And it is no surprise to see that more and more players log in to blockchain casinos. The popularity of cryptocurrencies increases quickly in the modern business world. It affects people’s opinions about the traditional casinos. The majority of the players prefer bitcoin casinos over traditional ones.
Accessibility to the game from other countries can be an issue in traditional casinos. It means, access to the casino can be unavailable in certain countries. Meanwhile, in blockchain casinos, people get free of that by having a chance to play it from anywhere outside the country. No matter where they travel, the players may easily play their favorite games.
Another essential feature of these casinos is the payment method. In traditional online casinos, it means a lot of issues. However, with bitcoin casinos, there is no problem with that: no transactional fees, no payout delays, no tiring waiting processes.
Finally, you get a fair amount of money you have won. There can be no problem with the laws and regulations of other countries. Bitcoin casino software takes it seriously when developing games. With traditional casinos, the case may be different. When you win money, because of other countries’ regulations, you may get less than you have won.
When it comes to the interests of the whole blockchain system, there is a lot to say. The system is unhackable, which is a feature that most casinos wish to have. Because of this unhackable and secure system, the popularity and the reputation of the casino may increase significantly.
Financial security is another crucial benefit of using these casinos. You may create your wallet, which is not a complicated process at all. You can do it even without giving any personal data of yours. Just an email and password may be enough to create it. And other than that, you have full control and responsibility for your account. There are no intermediaries in the process. And that contributes to the trust between the casino and players. The blockchain casino software functions at a high level to keep the faith of their players. And trust means loyalty and more costumers in marketing.
However, we have to mention that the casino business is in the transformation process. While the other fields adopt this futuristic technology quickly, the casino business is one step behind. And it is hard to say how fast the gambling industry will be all about blockchain casinos. However, one thing is sure: with all these opportunities, there is no way that players will not adore this technology.