A Blockchain Casino Where Everyone is a Shareholder

[Synchronice]

Hey everyone,

I’ve been diving deep into the concept of decentralized blockchain casinos, and I wanted to get your thoughts on an idea that could disrupt the online gambling industry.

What if instead of just betting, everyone could be a part-owner of the casino itself? Here’s how it could work:

The platform operates on smart contracts, ensuring provably fair games.
Instead of profits going to a central operator, earnings are distributed among token holders (similar to staking rewards).
Transparency is maintained via on-chain records—no hidden house edge manipulation.
Investors/players can vote on platform decisions via a DAO (Decentralized Autonomous Organization).
I see potential in making gambling more community-driven, allowing players to share in the profits rather than just hoping to beat the house.

Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

Let’s discuss. 🚀

My question is, who will create the casino? It needs someone in marketing department, someone in development department (open-source? here ok), someone in affiliate department, someone in payment department, someone in customer support department. Who is going to take care of this? It can't be done in an open-source way. Okay, you can create the product but the rest? Open-source (community chosen) marketing manager? Sorry but I think it will be a mess. I think that when people talk about things like that, they only take in mind the one part of the idea and not the other part too.
The community wants gambling and they gamble. A few people want well-established casino and they do that part too. I think that the community and such a serious project can't coexist together.

[EarnOnVictor]

-snip-
Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

I've read a lot about gambling and game playing with different packages but this is unique if I would be sincere right now. Talking about the risk involved, well, this is a new prospect that has never been seen before, so that is an automatic risk itself.

Again, are you the one who would bear the initial cost while people later buy the token? If it is that way, people buying the token would have bought the majority of the risk from you, if not all, because by selling your token, you might have distributed your debt/liability to them and even make more money.

Now, the last risk is the guarantee of the success of the project. It's not all casinos that are successful, so are we sure this one too will be successful and our token valuable or worthless?

[mak013]

Hey everyone,

I’ve been diving deep into the concept of decentralized blockchain casinos, and I wanted to get your thoughts on an idea that could disrupt the online gambling industry.

What if instead of just betting, everyone could be a part-owner of the casino itself? Here’s how it could work:

The platform operates on smart contracts, ensuring provably fair games.
Instead of profits going to a central operator, earnings are distributed among token holders (similar to staking rewards).
Transparency is maintained via on-chain records—no hidden house edge manipulation.
Investors/players can vote on platform decisions via a DAO (Decentralized Autonomous Organization).
I see potential in making gambling more community-driven, allowing players to share in the profits rather than just hoping to beat the house.

Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

Let’s discuss. 🚀

The first problem i see is that it has no owner. When several people can change idea of development during the voting - it would be big fail.
Much better when you buy tokens or stock of the existing casino. They know what they do, what result they want to get and if it is ok for you - you can join.

[Fivestar4everMVP]

Hey everyone,

I’ve been diving deep into the concept of decentralized blockchain casinos, and I wanted to get your thoughts on an idea that could disrupt the online gambling industry.

What if instead of just betting, everyone could be a part-owner of the casino itself? Here’s how it could work:

The platform operates on smart contracts, ensuring provably fair games.
Instead of profits going to a central operator, earnings are distributed among token holders (similar to staking rewards).
Transparency is maintained via on-chain records—no hidden house edge manipulation.
Investors/players can vote on platform decisions via a DAO (Decentralized Autonomous Organization).
I see potential in making gambling more community-driven, allowing players to share in the profits rather than just hoping to beat the house.

Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

Let’s discuss. 🚀

There is a popular verse in the book of ecclesiastics which states that nothing is new under the sun, and going by what I know and can tell, the concept you brought is not new though it's actually a good concept, I personal have come across two of three centralized casinos where gamblers can invest in the casino's bankroll to become shareholders of the casino, which means that when ever a gambler loses money on the casino, part of the money that goes into the casinos bankroll also goes to the users who have investing in the bankroll depending or according to the proportion of their investment.

As much as this concept is not new, I must be honest and say that I've not actually the same concept in action on a decentralized casino.
So many building and implementing the idea on a decentralized casino would turn out to be a very good idea, the only downside I can see for now is that decentralized casinos still suffer from game limitations, that is, not all game providers offer their services to decentralized casinos.

[Zeus_xo]

Stop spamming by ChatGPT replies.

You deleted my genuine reply, that's what you did, clowns

[Zoomic]

Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

Let’s discuss. 🚀

To be honest, I am just getting to know about a model like this today. I am just curious, if everyone becomes shareholders who will obviously be expecting profits instead of being actual gamblers, how will the casinos make profits to distribute at intervals to these shareholders? I would understand this model to a reasonable extent if only a few selected gamblers were made shareholders.

I think this model is unrealistic and doesn’t catch my interest. Someone can put me through if I am not getting the whole thing right.

I wouldn’t call myself a gambler if I only showed interest in becoming a shareholder without the need to gamble. As a gambler, I also love active participation, only if this model guarantees that.

[Smartprofit]

In practice, it is very difficult to create a decentralized project. To create a successful Internet project, you need initial capital, and you also need a team of professionals who can do the work necessary to launch the project.

In a decentralized project, this may be a problem. There are very few people who are ready not just to discuss something, but are ready to perform specific actions or invest money in the project.

Yes, in the virtual space there is such an understandable project management tool as DAO. However, the weak link in any project is the human factor. People are very often lazy and do their job well. People consider their contribution to the project to be very large and significant, and the contribution of other people is small and insignificant.

Because of this, quarrels and discord may begin in the team. In practice, this happens often.

[stompix]

Hasn't anyone checked OP history?
https://bitcointalk.org/index.php?topic=5532780.msg65086113#msg65086113

He is here just shilling his token.

Why X Casino?
X Casino is aiming to disrupt the traditional gambling industry by using blockchain technology for full transparency and fairness. The goal is to let everyone—investors and players alike—take part in the profits and decisions

Now, what everyone with a functioning brain should ask themselves is who in the name of god could a casino make it profitable for both players and owners. Cause if the players put in $100 and draw $150 I'm so sure the extra $50 they take is not counted as profit for the casino.
So, in short, another vaporware project that will end just like the others.

[Lanatsa]

Hey everyone,

I’ve been diving deep into the concept of decentralized blockchain casinos, and I wanted to get your thoughts on an idea that could disrupt the online gambling industry.

What if instead of just betting, everyone could be a part-owner of the casino itself? Here’s how it could work:

The platform operates on smart contracts, ensuring provably fair games.
Instead of profits going to a central operator, earnings are distributed among token holders (similar to staking rewards).
Transparency is maintained via on-chain records—no hidden house edge manipulation.
Investors/players can vote on platform decisions via a DAO (Decentralized Autonomous Organization).
I see potential in making gambling more community-driven, allowing players to share in the profits rather than just hoping to beat the house.

Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

Let’s discuss. 🚀

My question is, who will create the casino? It needs someone in marketing department, someone in development department (open-source? here ok), someone in affiliate department, someone in payment department, someone in customer support department. Who is going to take care of this? It can't be done in an open-source way. Okay, you can create the product but the rest? Open-source (community chosen) marketing manager? Sorry but I think it will be a mess. I think that when people talk about things like that, they only take in mind the one part of the idea and not the other part too.
The community wants gambling and they gamble. A few people want well-established casino and they do that part too. I think that the community and such a serious project can't coexist together.

There are really things that it might sounds a good idea on which we know that being open source but we do know that it will really be having other factors or things on which needed up to consider.
Lets just skip out into the idea on having that blockchain casino on where everyone is a share holder, with that kind of idea then it will really be putting up that kind of questions in mind like;

1. How marketing would be done?
2. Who would be that making up that UI/UX integration?
3. How the profits be that be divided?
4. Who will be the ones will be playing if all will be a shareholder?
5. What will be the budget on creating one?

It might that sounds good but with these questions above on which i would say that this alone will really be that showing that these things couldnt be just that possible.
Lets just that let those people or business owners will really be making up these platforms for the people who do wants to have some fun and leisure.
It couldnt possibly exist on this case.

[robelneo]

Lets just skip out into the idea on having that blockchain casino on where everyone is a share holder, with that kind of idea then it will really be putting up that kind of questions in mind like;

1. How marketing would be done?
2. Who would be that making up that UI/UX integration?
3. How the profits be that be divided?
4. Who will be the ones will be playing if all will be a shareholder?
5. What will be the budget on creating one?

It might that sounds good but with these questions above on which i would say that this alone will really be that showing that these things couldnt be just that possible.

There will always be someone to put up all of these things and he will happen to have control of the smart contract since he will be the one to put up everything; he will have a big share of the profit, It will be surprising if he will not take a big share since putting up a smart contract, domain, hosting, and configuring the backend and the frontend of the platform cost money and a lot of effort.
The smart contract alone should be guarded and always audited; rugpulls can happen anytime if its not guarded. It looked like a good idea, but the implementation will be very different.

[mcdouglasx]

A decentralized casino with games based on blockchain would be a challenge. Not only is the idea of smart contracts the only thing, there are already lottery contracts, but adapting them to casino games would require more complex logic. Furthermore:

-how would the profits be distributed? Native casino tokens?
 
-What will make the network 100% fair? Proof of Fairness?

-Suppose each play should give you a profit, wouldn't this overwhelm the network with multiple microtransactions? Would you use sidechains or transaction aggregation, where several bets and payments are accumulated in a single transaction to minimize network impact?

The point is, this would be a gigantic technical challenge.

[Hispo]

Hasn't anyone checked OP history?
https://bitcointalk.org/index.php?topic=5532780.msg65086113#msg65086113

He is here just shilling his token.

Why X Casino?
X Casino is aiming to disrupt the traditional gambling industry by using blockchain technology for full transparency and fairness. The goal is to let everyone—investors and players alike—take part in the profits and decisions

Now, what everyone with a functioning brain should ask themselves is who in the name of god could a casino make it profitable for both players and owners. Cause if the players put in $100 and draw $150 I'm so sure the extra $50 they take is not counted as profit for the casino.
So, in short, another vaporware project that will end just like the others.

Thanks for pointing it out. I did not notice it...
Even though this project and the description he is giving indeed sounds strange and unrealistic, it would be okey if he refrained from further posting about this project on here and instead he did it in the alternative coin sections for the forum or even within the project development section of the forum. Nobody likes stealth shilling when comes to platforms like this one, specially when whoever is behind the project starts to promise to benefit both gamblers and owners of the bankroll...

Casinos running on the Blockchain are nothing new, by the way, it would be a matter of implementation and see whether they can get as much volume as traditional centralized casinos can, which I doubt it. People have already shown their preference for centralized and reliable/licensed providers.

[stompix]

!

Thanks for pointing it out. I did not notice it...
Even though this project and the description he is giving indeed sounds strange and unrealistic, it would be okey if he refrained from further posting about this project on here and instead he did it in the alternative coin sections for the forum or even within the project development section of the forum.

Because that thread got no traction and no attention whatsoever?
People around are just bored with the respective projects, no way you're going to launch a successful business like that anymore, times have changed and startups are not like in 2013 anymore when you could rise hell with a 100k bounty.

Also, it's just a bunch of words, and a token, like 1 million others...

Lets just skip out into the idea on having that blockchain casino on where everyone is a share holder, with that kind of idea then it will really be putting up that kind of questions in mind like;
~

Question 6, more important than the others
Why would players want to play on this type of casino anyhow?

[shield132]

Hey everyone,

I’ve been diving deep into the concept of decentralized blockchain casinos, and I wanted to get your thoughts on an idea that could disrupt the online gambling industry.

What if instead of just betting, everyone could be a part-owner of the casino itself? Here’s how it could work:

The platform operates on smart contracts, ensuring provably fair games.
Instead of profits going to a central operator, earnings are distributed among token holders (similar to staking rewards).
Transparency is maintained via on-chain records—no hidden house edge manipulation.
Investors/players can vote on platform decisions via a DAO (Decentralized Autonomous Organization).
I see potential in making gambling more community-driven, allowing players to share in the profits rather than just hoping to beat the house.

Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

Let’s discuss. 🚀

I remember that in 2016-2017, many crypto casinos wanted to offer people the ability to invest, for example, Bitsler wanted that but they didn't do it because they couldn't find a way that would solve the trust issue. Bitsler is a centralized crypto casino and in this case, the owner of the website can know the outcome of the dice bet before that happens, so it's not a good solution if you want to 100% ensure your customers that their invested money will profit fairly because there is a chance that casino owner lies and investors can go bankrupt.
OP can you show me an example of a casino that uses smart contracts to ensure provably fair games? I'll have a look at that and then I'll continue this conversation.

[Fivestar4everMVP]

Hasn't anyone checked OP history?
https://bitcointalk.org/index.php?topic=5532780.msg65086113#msg65086113

He is here just shilling his token.

Why X Casino?
X Casino is aiming to disrupt the traditional gambling industry by using blockchain technology for full transparency and fairness. The goal is to let everyone—investors and players alike—take part in the profits and decisions

Now, what everyone with a functioning brain should ask themselves is who in the name of god could a casino make it profitable for both players and owners. Cause if the players put in $100 and draw $150 I'm so sure the extra $50 they take is not counted as profit for the casino.
So, in short, another vaporware project that will end just like the others.

Well, I think the question should rather be if the op is capable of paying the price required for the success of the project which I highly doubt.
Said this because if actually the project will succeed and become big like the majority of the casinos we market on this forum though our signature ad space, I see no way keeping investors in the project happy; as well as players who won money is a big problem.

We all know that casinos make more profit than they loss, and casinos don't also all the time a gambler wins, this depends on the game the gambler played and won from, for example, casinos don't in reality, lose money when a gambler wins from a game provided by a third party game provider like a slot game, the loss is on the provider of the game while casinos still get their commission regardless of whether the game provider is in loss or profit.