Blockchain and Gambling

[fiulpro]

So I recently read a very interesting article which actually defines about how blockchain is responsible for more responsible gambling.
https://www.gamblingnews.com/news/hashing-it-out-ep-11-blockchain-as-a-solution-for-more-responsible-gambling/

One of the attendees whom CoinGeek interviewed is Peter Higgins – a commercial mediator whose work is to solve disputes between gambling operators and clients. Higgins explained that sometimes these conflicts involve big sums of money and that his job is to prevent things from escalating to court where possible.

Speaking about blockchain, Higgins is quite optimistic about its use in solving such conflicts as their robust way of working will make it much easier to find out who is right and who is wrong.

“If you can have these ledgers in place that proves what was placed when with some different examples, in crude terms, it’s basically more evidence for the operator or for the client in that case,” Higgins explained.

- An essential method to solve conflicts in the long run which does mean that there will be less problems and we will have more proof in case of some dispute

Not only that it have immense potential account to the author, the knowledge, license, the compliance, data, gambling, approach safety it's all very well received with blockchain technology.

It can also be used to track a players journey apparently which I don't really understand about how it's under the privacy map.

Well the article was overall a good read, what do you think ?

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[qwertyup23]

“If you can have these ledgers in place that proves what was placed when with some different examples, in crude terms, it’s basically more evidence for the operator or for the client in that case,” Higgins explained.

Imagine, all of the transactions that took place will be visible in a public ledger where any disputes or conflicts arising from non-payment would be immediately solved. This may not only address the issue of lost funds for gamblers but this would introduce a new array of convenience for both the players and the online gambling website as well.

The article is indeed a good read as it explained the future of gambling and the application of the blockchain to the former. It opens a new window of opportunity of the future of gambling as a whole, in parallel with the blockchain and its application.

[Beparanf]

AFAIK, Most of the online gambling operator are using blockchain for all the transactions entering on there casino since payment method is in crypto and its all recorded if the dispute is about whether the user indeed deposit/withdraw the exact amount.

There's a lot of online casino that completely coded on blockchain. The only problem was the slow transaction speed whenever lots of player is playing at the same time. Blockchain is indeed the solution to gambling industry to solve trust issue, the only problem was the blockchain that will give the right TPS to run this tons of transaction for a short period of time.

[madnessteat]

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.

[Oshosondy]

I have been thinking about what type of problem in gambling can be easily solved using blockchain that might not affect privacy, but because the blockchain can be transparent, this can truly helps in solving many disputes between gambling companies and clients which are punters, all the data will be transparent and easy to track which will be available to the public rather than the ones existing for now.

It is also easy to make use of blockchain to track cryptocurrency transactions rather than the bank payment which can not be accessed by the public.

[Fortify]

So I recently read a very interesting article which actually defines about how blockchain is responsible for more responsible gambling.
https://www.gamblingnews.com/news/hashing-it-out-ep-11-blockchain-as-a-solution-for-more-responsible-gambling/

One of the attendees whom CoinGeek interviewed is Peter Higgins – a commercial mediator whose work is to solve disputes between gambling operators and clients. Higgins explained that sometimes these conflicts involve big sums of money and that his job is to prevent things from escalating to court where possible.

Speaking about blockchain, Higgins is quite optimistic about its use in solving such conflicts as their robust way of working will make it much easier to find out who is right and who is wrong.

“If you can have these ledgers in place that proves what was placed when with some different examples, in crude terms, it’s basically more evidence for the operator or for the client in that case,” Higgins explained.

- An essential method to solve conflicts in the long run which does mean that there will be less problems and we will have more proof in case of some dispute

Not only that it have immense potential account to the author, the knowledge, license, the compliance, data, gambling, approach safety it's all very well received with blockchain technology.

It can also be used to track a players journey apparently which I don't really understand about how it's under the privacy map.

Well the article was overall a good read, what do you think ?

It seems like a solution in search of a problem and has very niche uses that won't apply to the majority of small scale gamblers. His job is a "commercial mediator" and it sounds like he is so engrossed in his work that he overestimates the market for the product he has designed. Tracking how a bet was placed and how much is involved is really simple, basically the fundamental bedrock of how every existing casino operates already. The *only* place this is useful is with the insignificantly tiny portion of mega bets - where people are placing tens of thousands, or even millions, in which case they would get ultra VIP service from whatever gambling operation they are with already. Sounds like a redundant idea for a company in the current form.

[crzy]

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.

In case of any dispute, you still need to hire someone that is good in blockchain to collect any proof, and spend a lot of money paying your lawyers to fight for your money and of course, you need to know where that site is located if they have physical office or at least look for their license to know where you can file a case. Blockchain is a big help but in crypto industry, its rare to see someone filing a case even if they got scammed by any site.

[nelson4lov]

I have been thinking about what type of problem in gambling can be easily solved using blockchain that might not affect privacy, but because the blockchain can be transparent, this can truly helps in solving many disputes between gambling companies and clients which are punters, all the data will be transparent and easy to track which will be available to the public rather than the ones existing for now.

It is also easy to make use of blockchain to track cryptocurrency transactions rather than the bank payment which can not be accessed by the public.

+1.

At its core, blockchains are designed to be permissionless and trustless that means users no longer need to worry or bother to check the seeds or if its provably fair or not. For anyone worried about their privacy, I'm sure some sort of privacy layer can be built for people that want to enjoy the best of both worlds - get full transparency without risking exposure or privacy. Should be a huge win for the gambling community.

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.

The issue of cost for utilizing blockchain for projects like this shouldn't be much of a problem especially since there are plenty of layer 1 protocol available right now that have super cheap fees and near-instant finality. It used to be a problem in 2017/2028/2019 but I don't think it should be a cause for concern now.

[madnessteat]

The issue of cost for utilizing blockchain for projects like this shouldn't be much of a problem especially since there are plenty of layer 1 protocol available right now that have super cheap fees and near-instant finality. It used to be a problem in 2017/2028/2019 but I don't think it should be a cause for concern now.

Of course, nowadays there are cryptocurrencies with high transaction speed and low commissions, but can you give an example of at least a few casinos and cryptocurrencies used by them not for deposits but specifically for inside game transactions, each of which is displayed in the blockchain?

[blockman]

AFAIK, Most of the online gambling operator are using blockchain for all the transactions entering on there casino since payment method is in crypto and its all recorded if the dispute is about whether the user indeed deposit/withdraw the exact amount.

I agree. They have to adopt blockchain if the payment options they have are in different cryptocurrencies. That's already the standard of it and they're must better be called crypto casinos because it's all about crypto although there is also integration with fiat payments. But the thing is that they've focused more on payments and deposits in crypto.

In case of any dispute, you still need to hire someone that is good in blockchain to collect any proof

There are also established companies that have been focused on tracking transactions.

[STT]

The ideal would be for all transactions to be decentralized rather then reliant on any internal book keeping but for that to be true and not exclude the normal average bettor with modest bet amounts is the blockchain transaction must be very efficiently and cheaply done.   So far as I know for this moment thats mostly going to occur via alt coin maybe even proprietary blockchains and obviously I wouldn't really want that blockchain itself to be centralized either.   Its possible, I hope we get there but its good to hear of an arbiter in such disputes.

[dbc23]

Computational ledger using blockchain is immutable And would be a good tool in solving disputes between gambling operators and it's clients. This would save the stress of going to court over misunderstanding between this two parties. using blockchain would provide legitimate evidence for both the gambler and the operator

One interesting fact about blockchain is it's consensus mechanisms adopting this in gambling makes the system completely transparent

[Wexnident]

Well, it's not really responsible gambling per se, but rather just having it much easier in actually identifying who is right and wrong in an argument. Well, it does give a significant advantage over trying to actually resolve conflicts though since the blockchain isn't really controlled nor could be manipulated by a third party, hence making it much more transparent on who's right or wrong.

I'd reckon the journey part is simply something like match history or something similar. Nothing really new or rare, but it does guarantee that it's true though since it directly comes from the blockchain. The biggest advantage of using a blockchain imo after all, is it's transparency, so using that to display their public statistics shouldn't be a problem.

[cabron]

Wasn't there already a blockchain-based casino like betfury where transactions and bets are transparent because it's on the blockchain?

A 3rd party jury wouldn't really solve disputes in casinos as blockchain already solidifies its result, there are no disputes gonna happen there when all the data needed to solve are publicly visible. It's a question of fees in the blockchain, SOLANA would be a good blockchain for this but there are already projects the offer free like EOS. In fact, bethash.io is an example.

[ralle14]

If this was implemented on most sportsbooks I think it would reduce complaints, but most of the big issues i've seen revolves around VPNs or faking their identity. Then again it would be nice if having a blockchain could provide additional information to fix other betting issues like for example bookies that are accepting bets at wrong starting times and accepting bets at wrongly priced odds. Back then this was one of the problems i've faced and unfortunately there's nothing I could do since it's difficult to link starting times on certain events as they don't show their local time.

[Jackl87]

So I recently read a very interesting article which actually defines about how blockchain is responsible for more responsible gambling.
https://www.gamblingnews.com/news/hashing-it-out-ep-11-blockchain-as-a-solution-for-more-responsible-gambling/

The use of the blockchain could be really helpful in cases where proof is needed for an outcome of a bet or a gambling game, because with the help of the blockchain it is pretty easy to prove who is right and who is wrong. I don't think though that it will help to prove that an online casino is cheating in the first place. As far as i know slot machines for example need to have a minimum chance of winning in order to be allowed to use by the casinos. I am pretty sure that this is true for online casinos too.

[slackovic]

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.

[yazher]

They can track the record of the crypto gamblers depends if they don't use any third-party platform that will hide their past history transactions. I think we have more advanced features to track the transaction records nowadays since people won't stop developing some codes to do those things easier for them and with the time pass by until now, they successfully developed it into something convenient. so people who don't want to be tracked needs to study and update their method of hiding their transaction history because little they know, they already been tracked and their actions have already been recorded if they don't do anything today.

[danherbias07]

I'm glad the mediator is being honest about it. It's his job to help those who have disputes and this could ruin his profits but he thought about the good side of introducing the blockchain technology that will ease the difficulties of tracing back the transactions. Who would do that this days?
He could just keep his mouth shut and take as many disputes as he can from gamblers and yet he wanted a progressive way. Small problems could be directed to gambling platform support while he can focus on big amounts.

[Smartprofit]

So I recently read a very interesting article which actually defines about how blockchain is responsible for more responsible gambling.
https://www.gamblingnews.com/news/hashing-it-out-ep-11-blockchain-as-a-solution-for-more-responsible-gambling/

One of the attendees whom CoinGeek interviewed is Peter Higgins – a commercial mediator whose work is to solve disputes between gambling operators and clients. Higgins explained that sometimes these conflicts involve big sums of money and that his job is to prevent things from escalating to court where possible.

Speaking about blockchain, Higgins is quite optimistic about its use in solving such conflicts as their robust way of working will make it much easier to find out who is right and who is wrong.

“If you can have these ledgers in place that proves what was placed when with some different examples, in crude terms, it’s basically more evidence for the operator or for the client in that case,” Higgins explained.

- An essential method to solve conflicts in the long run which does mean that there will be less problems and we will have more proof in case of some dispute

Not only that it have immense potential account to the author, the knowledge, license, the compliance, data, gambling, approach safety it's all very well received with blockchain technology.

It can also be used to track a players journey apparently which I don't really understand about how it's under the privacy map.

Well the article was overall a good read, what do you think ?

Blockchain is the most efficient tool for working in an unreliable environment. 

This technology also has disadvantages.  First of all, it's poor performance. 

In addition, blockchain has proven itself well in large cross-border projects.  In these projects, the participants are not residents of one country, but residents of many countries that are located on different continents of the planet Earth. 

Therefore, based on this, blockchain can become an effective tool for preventing conflicts between online casinos and players.