Bitcoin Forum

Bitcoin and Blockchain applied to Online Gambling and Betting

The gambling and casino industry has been alert to the changes associated with modern technologies. Since its inception, it has relied on various inventions, whether a simple dice or a sophisticated blockchain betting platform. As advancements in technology speed up, the industry is transformed at a rapid pace as well to catch up with the reality of a highly digitalized world.

The key purpose of gambling is winning a prize in a game with uncertain results. It has become immensely popular in different societies as it makes people experience a broad spectrum of emotions. It is winning that triggers particularly addictive perceptions and keeps gamblers on the edge of their seats. Nowadays, gamblers don’t even have to take seats outside their houses because leading-edge technologies enable them to place bets and play odds online.

When looking back at the history of gambling, it is clear that people were interested in it before recorded history. Gambling houses emerged in the first millennium BC while the first casino started functioning in Venice in the 17th century. The first official bookmaking service dates from 1790 when Harry Ogden made a profit by offering players the opportunity to bet on horses. Later, new forms of gambling evolved. In 1961, the legalization of betting shops encouraged the spread of bookmaking firms. The launch of online poker websites and the approval of online casinos in the 1990s were major recent landmarks in the gambling and casino industry. In fact, they set a course for striking future developments in the industry, which wouldn’t happen without the use of the latest technologies.

Online Gambling

The successful incorporation of Internet technologies led to the launch of online casinos. Microgaming was the first software development company to expand the variety of online gambling games. The greater availability of those games required the improvements in safe online transactions that were promoted by Cryptologic. Online gambling has been constantly transforming and setting new, demanding standards. For example, modern online casinos are not only expected to be legal but also to be designed to encourage communication and interaction between players from around the world. In the 2000s, online gambling hit the jackpot, welcoming 8 million players. This number hasn’t decreased since then. Online gambling is a promising trend which will continue to build up momentum. Despite its rise, conventional brick and mortar casinos still attract gamblers. Although the atmosphere remains unchanged there, digital gambling machines are found in every traditional casino, proving technological impact is unavoidable.

Mobile Technology

In the last few years, mobile gaming has been on the rise. It ensued from the widespread use of mobile phones, which allow users to place bets on the go. Smartphones not only give access to online casino games, but they also create an opportunity to download apps designed to simplify user experiences and make gambling portable. Mobile technology increases the number of players who value the convenience coming from the ability to place bets quickly. Despite recently imposed regulations on online gambling, mobile casinos and apps are in great demand among users and generate the highest profits in the industry.

Virtual Reality

The future of online gambling lies in virtual reality. This technology is aimed at gamblers who still prefer brick and mortar casinos to online gambling. Of course, virtual reality gambling won’t leave other players indifferent. The first attempt to create a virtual reality casino was in 2016. Since then, developers have been working on the idea of true-to-life casinos which will provide users with vivid virtual experiences and quality animation. Today, SlotsMillion is the only provider of VR/3D online casino applications.

Blockchain-based Gambling Platforms

Blockchain technology has influenced different industries. So far, it is difficult to evaluate its current and future impact. The gambling and casino industry had no choice but to embark on the incorporation of blockchain. And developers who rely on it haven’t made a wrong decision because blockchain-based gambling platforms offer transparency and privacy for their clients. Blockchain casinos have been a solution for modern gamblers who value personal data or hate fraud and unreasonable regulations. Reliable online casinos and sportsbooks such as Bitbook, Bitstarz, and Fortune Jack were built as modern decentralized networks.

The gambling and casino industry has expanded much more dramatically than expected, making it a very profitable sector. There are more than 2.2 billion active online gamers. It is expected revenue from gambling will total $143.5 billion by 2020. Massive popularity results from the rise of various technologies. Undoubtedly, technological development has changed the industry, incorporating multi-player gaming, mobile casinos, casino apps, Internet poker rooms, virtual reality games, decentralized blockchain opportunities, and cryptocurrency transactions. It is evident that technologies have made gambling and betting more convenient for a wider audience by introducing secure, transparent, and user-friendly betting platforms.

Technological development accounts for the advantages of Bitbook.ag, a new online gambling and betting platform. Bitbook.ag is designed to provide clients with numerous licensed games and quality services. It allows gamblers to place their bets on both computers and mobile devices. Moreover, the platform has been built on blockchain, profoundly boosting its operation. Now, Bitbook.ag offers transparent transactions, automatically updated odds, personal privacy, and an unique token that also can be used on betting. It is not all, the team is eager to keep Bitbook.ag up to date and turn it into the leading 2.0 online betting and gambling platform.

Find out more about bitbook on www.bitbook.ag – the platform is already live and you can test their games with a free demo account!

Contact Email Address
info@bitbook.ag

Supporting Link
https://ico.bitbook.ag/en/

I will say one thing, if you start playing only then you can win a prize.

The launch is very OK and to have a working product is another great plus to the whole project because the gambling industry have witness a lot of success with the coming of cryptocurrency and that have made gambling a very easy task most especially the online gambling. I wish you guys success in your project.

Clearly, the blockchain is a technology for managing trust and reducing costs in all types of transactions

Of course, I watch all the developments excitedly. However, I think that gambling can be transferred to such comfortable areas, that people trust in a variety of ways and that they can increase their gambling addiction.
That's just a possibility, of course. What do you guys think about this?

The industry does need more scrutiny and transparency. Something blockchain will assist with immensely. Good on BitBook for getting the wheels in motion.

I disagree with bitcoin become partnership with gambling and betting, how ever many Moslem people in bitcoin trading or investing, its not good effect for bitcoin at the future if keep gambling and betting as bitcoin part.

indeed, many projects have the theme of gambling and betting. but I don't think it's all like that. only a few projects. so we can choose projects that are truly based on business

Be warned already by OP's red trust, no matter how good the project looks like but they have made a big mistake. Although they have admitted that they made a mistake but still it does not look like a professional team. They are new project but claiming themselves as the leading crypto sportsbook and casino, what a joke.

Well the name is also gambling is very high risk, but one of the advantages of gambling using the blockchain system is a transparent but anonymous system so everyone can know where the funds flow, so cheating here can be minimized.

Nobody could give trust to their team as it is already found scam and having fake teams.
What a questionable team members behind and it probably their intention's  is to generate money from gamblers and not giving the services they promise.
This is a huge impersonation and we never allow this one. 

This can be counted as a development, but most of time BTC is used for gambling or illegal business, although there are plenty of places where BTC can be more useful.  :-\
Most of the recent ICOs are related to gambling and interesting fact is that recently projects which reach soft cap are they.

maybe at that time you are too confident, while knowledge is not good, so if you feel it is like gambling, and you risk it. but I am sure with that experience, of course nowadays it is getting better, and not arbitrarily trading

this will look more effective than using a credit card. because I think using crypto will be easier and faster in processing the transaction.

This is common with majority of the gamblers, very few stay within the limits even after winning. Most people get into greed when they win and try to get back the lost fund when fails in the event. This keeps an user active on gambling, this seems to be the major factor affecting gambling even when it gets integrated through blockchain.

If this is your guinue opinion then you don't understand what bitcoin stands for, bitcoin is a currency so it can be used for every other thing your average fiat currency can be used for. In fact due to the fact bitcoin is digital is has a higher advantage as it can be used in for  online payment option and gambling sites utilizing it's potential is something to be proud of because it helps in the adoption of bitcoin as a valid currency..

I gues what blockchain does to them is to provide a payment system that allowed for decentralized transactions, like depositing and withdrawal of payments. The gambling industry has been on the increase lately and it operations on blockchain is making things easier for users and team.

Bitcoin did`nt partner with any gambling site,gambling site used it as part of their method when you want to deposit your money into their casino. Im not a racist, but more people trade bitcoin regardless of its race the livelier it will get.

Whats not good, is that the people who gambles a lot in the long run. What`s good is that with gamblers and traders the ecosystem of bitcoin is alive.

Blockchain totally fits in this type of fun service to people, since, it is incorruptible and offers audits in real time, where they show you the moves and the random reactions of the game. I think that Blockchain algorithms at the programming level are much safer than traditional casino programs.

In these cases according to a book of games, they always emphasize that the more technology exists and can be applied to the game, the sense of chance will take more strength and the game will be much cleaner, since it can not be manipulated by a third party. Following these recommendations, today there are many online pages where many players experience the same emotions as in a casino.

The additional advantage is, for those countries where the game is prohibited, through the blockchain technology, the game comes home, jumping all prhibition, being the blockchain technology pioneer in offering this type of utility.

Wasn't really expecting an advertisement topic on "economics" about a casino to be honest with you. If you would like to make an advertisement of your casino than open the topic on the gambling section, this is a place to talk about the "economics" of crypto and yeah even tough this topic could be considered economics after all it is still just pure advertisement with more words that's all.

Online gambling has been around for a long time now, even before bitcoin and blockchain started so bitcoin is not making online gambling it is just improving it, pokerstars and all that existed way before bitcoin did, hell even zynga poker which is played with "play money" has been around for longer than bitcoin yet people bought play money there so it could be considered real gambling. So bitcoin and blockchain is just here to make it a fair game and that is about it.

many people out there like and playing gambling, everyday, every night. and its easy to something go to this platform. and im sure if some platform going to here, it will explode in a short time.
gambling is a good advertise than other, because many people like it. but, the risk is double between crypto and gambling

I think because of the technology now that super high maybe they can do this but not all is for gambling. There's some projects in crypto that not related to online gambling that prove that bitcoin and blockchain is more on business than to gambling. Even our technology wil be always change.

Yes, it is true that Bitcoin is only a means of exchanging for gambling because it is very good after many banks have been dismissed for partnering with gambling but not all, I think it benefits both of them where they can use it for gambling so it will increase Bitcoin and gambling, it is not good in the eyes of some people, but first see who is playing there and how they anticipate every risk, the development of both will always live for the next few years maybe forever.