Blockchain and Gambling

[goldkingcoiner]

I don't see how blockchain can be used to track all the inside transactions simply because there is not a single project that covers all three parts of the blockchain trilemma. For example, Ethereum is decentralized and secure, but it's not (yet) scalable. Solana is scalable, but it's not decentralized as we have seen few days ago when they suddenly decided to shut down the entire network. Once there is a blockchain that covers all three in the blockchain trilemma, then it can be used for tracking casino's inside transactions.

You don't have to solve all of them to use it on a casino, and it's impossible for a casino to have a decentralized bookkeeping since there has to be an owner in that casino but we can make the blockchain out of their control and make things public.

If the blockchain that a casino is using is not decentralized and one person (the casino owner) controls it, how is it different than a normal database where all the inside transactions are stored? Just like the owner of the casino can delete transaction from a database, he can delete transaction from a private blockchain. For example, if someone could delete an Ethereum transaction, what would I do with that transaction hash? Nothing, because it doesn't exist on the blockchain because someone deleted it.

Well as some people here already have mentioned quite eloquently, it seems more like they are using Blockchain in order to restore trust from their "clients" by putting everything on a public ledger, which is immutable. But then again, the problem with centralisation stays. So its back to us trusting them with our money and hoping they stay true to their word....

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[Wakate]

Moving back to the topic, gambling is already there before blockchain. The good for some and bad, maybe for some, are the fact that blockchain brings gambling much nearer to every gambler.

It has brought to gamblers easily because of blockchain. With this tech, everyone can easily understand many things not only about blockchain but as well as crypto.
The good thing about it is that it has given a lot of advantage not only with its feature but as well as additional knowledge.

Block chain is very easy for gamblers to use when gambling that normal Fiat that could be use for transactions and paying of bets.
Block chain has a lots of advantage for gamblers making it very easy to use.
Block chain is an additional tools in gambling effectively enhancing the consistent patronage of block chain in gambling.

[mv1986]

I don't see how blockchain can be used to track all the inside transactions simply because there is not a single project that covers all three parts of the blockchain trilemma. For example, Ethereum is decentralized and secure, but it's not (yet) scalable. Solana is scalable, but it's not decentralized as we have seen few days ago when they suddenly decided to shut down the entire network. Once there is a blockchain that covers all three in the blockchain trilemma, then it can be used for tracking casino's inside transactions.

You don't have to solve all of them to use it on a casino, and it's impossible for a casino to have a decentralized bookkeeping since there has to be an owner in that casino but we can make the blockchain out of their control and make things public.

If the blockchain that a casino is using is not decentralized and one person (the casino owner) controls it, how is it different than a normal database where all the inside transactions are stored? Just like the owner of the casino can delete transaction from a database, he can delete transaction from a private blockchain. For example, if someone could delete an Ethereum transaction, what would I do with that transaction hash? Nothing, because it doesn't exist on the blockchain because someone deleted it.

Well as some people here already have mentioned quite eloquently, it seems more like they are using Blockchain in order to restore trust from their "clients" by putting everything on a public ledger, which is immutable. But then again, the problem with centralisation stays. So its back to us trusting them with our money and hoping they stay true to their word....

I guess there are also some data privacy issues involved if they put everything on a blockchain. If they do that and at the same time are forced to collect KYC data at some point in time in the future, how would they protect your data from becoming public if for example a hack happens or any other way that leads to a data leak?

The centralisation issue will stay anyway as was mentioned before. I have never used Augur but if I understand correctly that would be one of the few (or the only one) possibility to gamble in a truly decentralized manner on sports betting events and so on?

[izsara]

Well, it's easy said than done tbh.

Gamblers at least the majority of them will gamble till they have lost it all and will do the same every time in the future. The thing with this is that the people don't always know that they are addicted and if you ask them they'll say they gamble a bit here and there but are serious... I have known a  few people in my local circle who're still addicts and no matter how I try to make them quiet it just doesn't work and I'm thinking of leaving their circle as a whole.

Honestly is never easy for a gambler to know or be aware of whether they had become an addict or not. There is this feelings of wanting to gamble more to increase the chances of winning more bets that can incur more money for the gambler but soonest we'll become an addict with having a sense of it cause of the pleasure we gain when gambling. Gambling is binded by forces that if not broken, it going to bring us closer to gambling for all our lives.

actually when they do that I think they realize and know that they are one of the many addicts that exist, because it is very predictable and very easy to find out.
but the problem is that they themselves do not admit that this is an addiction to gambling.
we must be able to distinguish between not realizing and not wanting to admit, because these are two different things.
what they are doing right now is they don't want to admit that they are gambling addicts and they always assume that what they do in gambling is normal for everyone to do.

[ethereumhunter]

Well, it's easy said than done tbh.

Gamblers at least the majority of them will gamble till they have lost it all and will do the same every time in the future. The thing with this is that the people don't always know that they are addicted and if you ask them they'll say they gamble a bit here and there but are serious... I have known a  few people in my local circle who're still addicts and no matter how I try to make them quiet it just doesn't work and I'm thinking of leaving their circle as a whole.

Honestly is never easy for a gambler to know or be aware of whether they had become an addict or not. There is this feelings of wanting to gamble more to increase the chances of winning more bets that can incur more money for the gambler but soonest we'll become an addict with having a sense of it cause of the pleasure we gain when gambling. Gambling is binded by forces that if not broken, it going to bring us closer to gambling for all our lives.

actually when they do that I think they realize and know that they are one of the many addicts that exist, because it is very predictable and very easy to find out.
but the problem is that they themselves do not admit that this is an addiction to gambling.
we must be able to distinguish between not realizing and not wanting to admit, because these are two different things.
what they are doing right now is they don't want to admit that they are gambling addicts and they always assume that what they do in gambling is normal for everyone to do.

People who have addicted to gambling will not admit that they are addicted instead saying that they are okay and still control their playing in gambling. Once that is the problem, it is hard for other people to come to them and tell the main problem because they already say everything is okay.

Gambling industries have evolved to a new thing that helps gamblers play using crypto that can make them play gambling anonymously. Maybe many gamblers are already using fiat to crypto to place their bet so they do not have to deposit into their bank accounts.

[Maestro75]

Of course, if you use cryptocurrency assets in gambling to prove any action becomes much easier, but as Beparanf said, not all casinos use blockchain directly in games because of the high cost of transactions and considerable time to confirm cryptocurrencies that negatively affects the gaming process. Therefore, there remains a very large area where even blockchain will not help to trace the player's actions and therefore protect his interests. It is very strange why this point was not discussed in the article.

Some of the casinos may not want to use the blockchain not because that it is expensive or slow to confirm transactions with it but because of the sharp practices they do in cheating players and lying that they have paid them while they have not. They know that every payment will be captured if they use the blockchain and can not lie about it. But without the blockchain they can manipulate the process. Casinos that are transparent will like the idea of using blockchain but those that are not will kick against it.

[blockman]

I think most of us here will not play on a site that is not popular, has no integrity, and not worth putting trust.

Most of us won't put ourselves at risk of gambling into a casino that has no reputation. Whether they're too pushy about the technology and they are very enthusiastic about it, no reputation means that they have to build their trust from the people.

If users still play there and there's a problem that happened on their account, that's their fault for trusting that site despite a good number of trusted casinos which we can found in the Gambling section.

We always see this case and these people are signing up and depositing that much that they can't afford to lose. And in the end, they ask the community with some help but we can't help them retrieve their funds unless the casino that tricked them will send it back.

[Kittygalore]

It has brought to gamblers easily because of blockchain. With this tech, everyone can easily understand many things not only about blockchain but as well as crypto.
The good thing about it is that it has given a lot of advantage not only with its feature but as well as additional knowledge.

But the fees are exorbitant though so it's not really the best one to use right now because of that. Maybe they can just stick to what they're using right now, it's not like what they're using is offensive or anything so why change right?

[gagux123]

Hmm, I did a succinct read on that article, I found it very interesting and I believe that everything has positive points and negative points.

The use of Blockchain in gambling will make things much more transparent and have more confidence and could be a positive thing, but on the other hand, a negative point is, not all casinos use blockchain, because of the high transaction costs and a long time for confirmation with cryptocurrencies.
This is will need to be well implemented to avoid some errors, including what I mentioned above.

[STT]

If the blockchain isnt ETH or BTC then the fees might be reasonable.   Any public ledger should be far harder to manipulate retrospectively so there is some worth to operating a public set of books like this, it increases confidence in the cash flow of the casino, winnings and returns.  Might help them get business but also investors who want to back their profitable turnover.

[3meek]

Moving back to the topic, gambling is already there before blockchain. The good for some and bad, maybe for some, are the fact that blockchain brings gambling much nearer to every gambler.

It has brought to gamblers easily because of blockchain. With this tech, everyone can easily understand many things not only about blockchain but as well as crypto.
The good thing about it is that it has given a lot of advantage not only with its feature but as well as additional knowledge.

I don't think crypto-casinos can help a gambler understand blockchain technology or teach cryptography! Many people use bitcoin with absolutely no understanding of blockchain... Just like we use the smartphone without understanding cellular frequencies and other mobile technology...
The point of a lot of gambling sites is not the technology, it's the variety of payment acceptance, that's all...

[AmoreJaz]

Moving back to the topic, gambling is already there before blockchain. The good for some and bad, maybe for some, are the fact that blockchain brings gambling much nearer to every gambler.

It has brought to gamblers easily because of blockchain. With this tech, everyone can easily understand many things not only about blockchain but as well as crypto.
The good thing about it is that it has given a lot of advantage not only with its feature but as well as additional knowledge.

I don't think crypto-casinos can help a gambler understand blockchain technology or teach cryptography! Many people use bitcoin with absolutely no understanding of blockchain... Just like we use the smartphone without understanding cellular frequencies and other mobile technology...
The point of a lot of gambling sites is not the technology, it's the variety of payment acceptance, that's all...

yes, it is not understanding the blockchain tech per se but maybe how gambling site works. like for example, it is now very easy to check the provable fairness of the casino. most sites have their own provable fairness verifiers. which addresses the transparency of your game. can we do that in traditional offline casinos that easy?
also, i do agree that you don't need to know the tech behind these cryptocurrencies in order to play, you just need to know how you can use those currencies, how to deposit or withdraw and how to convert your crypto to fiat.

[finaleshot2016]

Moving back to the topic, gambling is already there before blockchain. The good for some and bad, maybe for some, are the fact that blockchain brings gambling much nearer to every gambler.

It has brought to gamblers easily because of blockchain. With this tech, everyone can easily understand many things not only about blockchain but as well as crypto.
The good thing about it is that it has given a lot of advantage not only with its feature but as well as additional knowledge.

I don't think crypto-casinos can help a gambler understand blockchain technology or teach cryptography! Many people use bitcoin with absolutely no understanding of blockchain... Just like we use the smartphone without understanding cellular frequencies and other mobile technology...
The point of a lot of gambling sites is not the technology, it's the variety of payment acceptance, that's all...

But of course there is part of them that makes them curious about blockchain and searched even the definition of it and basic use of cryptocurrency. Do you think they will just buy bitcoin and use it for gambling without having an idea of what is bitcoin? Of course, even it's a little portion of knowledge at least they got a little idea of how and what the bitcoin and the blockchain technology behind it. Why would you risk your money on a network that you don't have any single idea about it? It's weird on your part because it's already a dangerous move for an individual who is clueless of how a transaction works.

[ReiMomo]

I just read the article. Using blockchain in gambling will solve conflicts between gambling operators and clients which will save more money from going to courts and etc. Blockchain's robust way will support to identify who is right and who is wrong. The tracking system will be a huge relief for both Gambling operators and clients to be frank.

Yes, really happy to read such good things between using blockchain in gambling platform.

[Lanatsa]

Moving back to the topic, gambling is already there before blockchain. The good for some and bad, maybe for some, are the fact that blockchain brings gambling much nearer to every gambler.

It has brought to gamblers easily because of blockchain. With this tech, everyone can easily understand many things not only about blockchain but as well as crypto.
The good thing about it is that it has given a lot of advantage not only with its feature but as well as additional knowledge.

I don't think crypto-casinos can help a gambler understand blockchain technology or teach cryptography! Many people use bitcoin with absolutely no understanding of blockchain... Just like we use the smartphone without understanding cellular frequencies and other mobile technology...
The point of a lot of gambling sites is not the technology, it's the variety of payment acceptance, that's all...

When it comes to technicality of things then this is something that everybody doesn't really know on how blockchain tech works but it isn't really necessary for us to know as long we do know the basics

and how it do works then it would be just enough but it would really be a plus if we do know something more but it isn't really that much needed if you do really intent to deal up with things

which do only need up some simple understanding or just the basics.