Blockchain and Gambling

[Peanutswar]

Crypto gambling with the use of blockchain I guess is more quite effective because all of the transactions of the players are already credited with the blockchain which is more transparent for the user aware of having a took waiting time for the transaction to be a process. Also, we know how much secured with the use of blockchain technology I guess this kind of business adaptation might be applied not only with the gambling things too, sooner or later many people will appreciate the use of this.

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[Lucasgabd]

yes, its nice because open source code makes it possible to verify, in games that have a luck component or random distribution this is really important
it's interesting that it can get quite hard to make something truly random too
chainlink is working on solutions like that if I'm not wrong
and lots of applications on ethereum

Yeah.  Ethereum is definitely not suitable for gambling right now. 
Crazy commission for any transaction, and even more so if this smart contract immediately turns your winnings into a loss.  Unfortunately, I think this picture with Ethereum will continue for quite a long time, a year, maybe two.  And even when moving to the PoS, I suspect that it will still be large.  This is sad, because this blockchain is the most popular and well-known now.
 But I think gambling sites will gradually adapt and will use blockchains and tokens with small commissions

in reality that fact that ethereum fees are high and people pay it is bullish for price, supply x demand, there's people who are willing to use the network regardless of fees
but I get your point, for this the best solution would be using an L2 alternative chain, let's see if POS on eth 2.0 helps with the fees.

[madnessteat]

yes, its nice because open source code makes it possible to verify, in games that have a luck component or random distribution this is really important
it's interesting that it can get quite hard to make something truly random too
chainlink is working on solutions like that if I'm not wrong
and lots of applications on ethereum

Yeah.  Ethereum is definitely not suitable for gambling right now.  
Crazy commission for any transaction, and even more so if this smart contract immediately turns your winnings into a loss.  Unfortunately, I think this picture with Ethereum will continue for quite a long time, a year, maybe two.  And even when moving to the PoS, I suspect that it will still be large.  This is sad, because this blockchain is the most popular and well-known now.
 But I think gambling sites will gradually adapt and will use blockchains and tokens with small commissions

in reality that fact that ethereum fees are high and people pay it is bullish for price, supply x demand, there's people who are willing to use the network regardless of fees
but I get your point, for this the best solution would be using an L2 alternative chain, let's see if POS on eth 2.0 helps with the fees.

The L2 solutions designed to scale the ETH network are quite suitable for gambling activities if a person often gambles and has enough available funds to send from the mainnet ETH to Optimism or Arbitrum and keep them there.

I recently sent ETH to L2 solution Optimism - input commission was about $88 and output to the mainnet ETH was $92 with a recommended gas price of 55-70 gwei.

Commissions when sending ETH to L2 solution Arbitrum with the same gas price are 3-4 times less.

In my opinion it is much more convenient to use Solana network which has fast and inexpensive transactions.

[Theones]

~~

There's no perfect casinos, its just that Blockchain technology improves the system for a better services but it doesn't guaranteed a smooth run of the system so technically, we can always hear disputes and its very normal, what's normal is the team can't solve it at all. Blockchain is a big help for transparency and many gamblers prefer this now because they are afraid about the fairness of every gambling site, now with a help of blockchain at least we can check if the site is really fair or not.

If the project is on GitHub then there is possibility that one can check how much fair the gambling platform is. I don't think 100% fair casino is acceptable for owner since that will bring them both loss and profit in place of profit only.
Blockchain is about bringing transparency, in gambling the gamblers want transparency not the platform owners.

[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 ?

If you don't understand something, sometimes it is because the topic is super complex, however often times when people are trying to sell a product to you it is just marketing terminology meant to impress and confuse you at the same time. The blockchain has many different useful purposes, one of which is the very basis of its existence - tracking the movement of funds between accounts which is exactly what is being described here in different words. They are basically providing a non-service because the blockchain already offers the functionality they're describing if used properly. This is how many companies try to break into a market and make a name for themselves - pretending to offer a revolutionary new method of service but in actual fact changing very little.

[Zilon]

Disputes will always occur if there is centralized management in it. Many casinos eschew blockchain solutions on all aspects that are prone to conflict even though they offer transparency and fairness. As much as they set the company's terms and rules, some of the customers get inappropriate treatment like withdrawal not allowed, account lockout etc because they are considered to be violating written rules or based on casino's unilateral policies (after manual subjective research).

I strongly agree with you, in every centralized system there must always be this unsatisfied service rendered. It could either arise from the house not willing to pay a won slip or from the gambler who would want make claims to winnings that might go against the gambling policies and since this services can be easily manipulated policies could be made in favour of the company. Blockchain is just a perfect solution

[Johnyz]

Disputes will always occur if there is centralized management in it. Many casinos eschew blockchain solutions on all aspects that are prone to conflict even though they offer transparency and fairness. As much as they set the company's terms and rules, some of the customers get inappropriate treatment like withdrawal not allowed, account lockout etc because they are considered to be violating written rules or based on casino's unilateral policies (after manual subjective research).

I strongly agree with you, in every centralized system there must always be this unsatisfied service rendered. It could either arise from the house not willing to pay a won slip or from the gambler who would want make claims to winnings that might go against the gambling policies and since this services can be easily manipulated policies could be made in favour of the company. Blockchain is just a perfect solution

There are still some gambling site that works with Blockchain technology turns into a scam project because they don’t want to pay the gamblers so for me Blockchain still not a guaranteed but a good options especially to those serious gamblers. We need transparency in gambling, blockchain made it possible so I do agree that good gamblers should really improve their blockchain system.

[Rengga Jati]

There are still some gambling site that works with Blockchain technology turns into a scam project because they don’t want to pay the gamblers so for me Blockchain still not a guaranteed but a good options especially to those serious gamblers. We need transparency in gambling, blockchain made it possible so I do agree that good gamblers should really improve their blockchain system.

Yes exactly, using blockchain technology for gambling will not guarantee if the site is legit or not, scam or not.
But actually, it may serve better. At least, using blockchain technology makes it more advanced, transparent, fast, and has other positive sides. But once more, it doesn't guarantee the scam or legit.
However, we must not also only pay attention to the technology that is used or implemented (in this case, blockchain). There must be still several things to consider when choosing the gambling site.
And I personally will also consider the team, track record, license, and moreover, I will always choose the reputable gambling site, not the new one that is launched already. If the site is a new one but they have a good track record at least several months, I will start considering, moreover if there is no scam accusation about that.

[ultrloa]

Disputes will always occur if there is centralized management in it. Many casinos eschew blockchain solutions on all aspects that are prone to conflict even though they offer transparency and fairness. As much as they set the company's terms and rules, some of the customers get inappropriate treatment like withdrawal not allowed, account lockout etc because they are considered to be violating written rules or based on casino's unilateral policies (after manual subjective research).

I strongly agree with you, in every centralized system there must always be this unsatisfied service rendered. It could either arise from the house not willing to pay a won slip or from the gambler who would want make claims to winnings that might go against the gambling policies and since this services can be easily manipulated policies could be made in favour of the company. Blockchain is just a perfect solution

There are still some gambling site that works with Blockchain technology turns into a scam project because they don’t want to pay the gamblers so for me Blockchain still not a guaranteed but a good options especially to those serious gamblers. We need transparency in gambling, blockchain made it possible so I do agree that good gamblers should really improve their blockchain system.

Its just a matter of profitability and scammers use the current trend to accumulate costumer to be scam easily that's why eventhough there's blockchain involve on gambling we cannot guarantee any legitimacy of their project. And yeah we need transparency since this is one of important things needed to have by the dev's itself, for this we need to check which of those current blockchain based gambling site running good and transparent so that we can safely say that we are at lower risk investment or platform to play on.

[blockman]

I strongly agree with you, in every centralized system there must always be this unsatisfied service rendered. It could either arise from the house not willing to pay a won slip or from the gambler who would want make claims to winnings that might go against the gambling policies and since this services can be easily manipulated policies could be made in favour of the company.

Saw that happened in some casinos, even it's already proven to be a win by the gambler. They just don't want to give that prize that he deserved to win.

Blockchain is just a perfect solution

As said for the casinos that are mainly accepting cryptocurrencies. They seem to be said adopted blockchain already. But with such cases, they're mostly isolated cases and they will solve it as much as they can.

[LUCKMCFLY]

Disputes will always occur if there is centralized management in it. Many casinos eschew blockchain solutions on all aspects that are prone to conflict even though they offer transparency and fairness. As much as they set the company's terms and rules, some of the customers get inappropriate treatment like withdrawal not allowed, account lockout etc because they are considered to be violating written rules or based on casino's unilateral policies (after manual subjective research).

There's no perfect casinos, its just that Blockchain technology improves the system for a better services but it doesn't guaranteed a smooth run of the system so technically, we can always hear disputes and its very normal, what's normal is the team can't solve it at all. Blockchain is a big help for transparency and many gamblers prefer this now because they are afraid about the fairness of every gambling site, now with a help of blockchain at least we can check if the site is really fair or not.

In this I fully agree with your opinion, in the forum there are many cases where not only complaints or discussions are presented, even if it is supported by Blockchain technology, there will be failures. And although many are looking for how they can win in casinos, some are dedicated to seeing their vulnerabilities, sometimes they focus on the Welcome bonuses, for which, there are many who have many accounts and want to take advantage of the system , then in many ways there will always be flaws, the most common things are due to KYC requirements, then all this is combined and produces these types of vulnerabilities.

[slackovic]

well, we have descentralized exchanges working just fine, maybe its just a matter of time until we have a good descentralized casino
the good news is that if code is open source it will be verifiable so people can check if its really provably fair.

True. But with DEXes you will either use them on some centralized blockchain (like Binance Smart Chain) or you will pay high gas fees like on Uniswap. Would you pay $50 for a transaction fee just to place $10 bet? I don't think so. And if casino uses centralized blockchain like BSC, then users again have to trust that casino won't tamper with it's blockchain. That's why I'm saying that casinos need a Blockchain that is not yet developed (decentralized, secured and fast).

Large commissions take place only because of the huge demand from people and the technical impossibility of satisfying them cheaply (bandwidth does not allow). After ETH2 starts working or other blockchains like Cardano or Solana become popular, the cost of swaps and transactions will drop sharply and the work of decentralized services will be efficient. Therefore, one can hope that real decentralized casinos will appear.

Firstly, PLEASE don't put Solana and the word "decentralized" into the same sentence. For me, a decentralized blockchain can't be turned off just because "the big guys" made a decision. The days Solana was turned off because of some error is the day that I crossed it off my list. Btw, I did use Solana once to mint some NFT shit and guess what - it was so clogged during that minting, it reminded me of Ethereum. The only difference is that Ethereum works even if it's clogged (true, transaction fees are very high at that time, but it works) and Solana didn't work.

And secondly, I'm aware what is the reason for big transaction costs. I'm just saying that currently there is not one blockchain suitable to be used in casinos to track inside transactions. We can argue which project will be first to achieve security, scalability and decentralization but that's not the point of this topic.

[AicecreaME]

yes, its nice because open source code makes it possible to verify, in games that have a luck component or random distribution this is really important
it's interesting that it can get quite hard to make something truly random too
chainlink is working on solutions like that if I'm not wrong
and lots of applications on ethereum

Yeah.  Ethereum is definitely not suitable for gambling right now. 
Crazy commission for any transaction, and even more so if this smart contract immediately turns your winnings into a loss.  Unfortunately, I think this picture with Ethereum will continue for quite a long time, a year, maybe two.  And even when moving to the PoS, I suspect that it will still be large.  This is sad, because this blockchain is the most popular and well-known now.
 But I think gambling sites will gradually adapt and will use blockchains and tokens with small commissions

in reality that fact that ethereum fees are high and people pay it is bullish for price, supply x demand, there's people who are willing to use the network regardless of fees
but I get your point, for this the best solution would be using an L2 alternative chain, let's see if POS on eth 2.0 helps with the fees.

Ethereum gas fee is insane sometimes, so if you're not double checking every transaction you'd make in ethereum, you'll be surprise that the amount of ETH you transferred is smaller compared to the amount of gas fee on it, so yeah, I also agree with you guys. I thought that after the upgrade of Ethereum, it's fee is going to be smaller and accurate but I guess there's still bugs on it so we have to wait until they make ethereum network better for people to use it in gambling.

[KTChampions]

Large commissions take place only because of the huge demand from people and the technical impossibility of satisfying them cheaply (bandwidth does not allow). After ETH2 starts working or other blockchains like Cardano or Solana become popular, the cost of swaps and transactions will drop sharply and the work of decentralized services will be efficient. Therefore, one can hope that real decentralized casinos will appear.

Firstly, PLEASE don't put Solana and the word "decentralized" into the same sentence. For me, a decentralized blockchain can't be turned off just because "the big guys" made a decision. The days Solana was turned off because of some error is the day that I crossed it off my list. Btw, I did use Solana once to mint some NFT shit and guess what - it was so clogged during that minting, it reminded me of Ethereum. The only difference is that Ethereum works even if it's clogged (true, transaction fees are very high at that time, but it works) and Solana didn't work.

And secondly, I'm aware what is the reason for big transaction costs. I'm just saying that currently there is not one blockchain suitable to be used in casinos to track inside transactions. We can argue which project will be first to achieve security, scalability and decentralization but that's not the point of this topic.

No. First, you don't need to use a decentralized blockchain to create a decentralized application. Secondly, if Solana has any differences in decentralization from ETH or bitcoin, then they are minimal. As for the tracking of internal transactions in the casino, why do you want to see them if we are not talking about a system of provable fair?

[slackovic]

Large commissions take place only because of the huge demand from people and the technical impossibility of satisfying them cheaply (bandwidth does not allow). After ETH2 starts working or other blockchains like Cardano or Solana become popular, the cost of swaps and transactions will drop sharply and the work of decentralized services will be efficient. Therefore, one can hope that real decentralized casinos will appear.

Firstly, PLEASE don't put Solana and the word "decentralized" into the same sentence. For me, a decentralized blockchain can't be turned off just because "the big guys" made a decision. The days Solana was turned off because of some error is the day that I crossed it off my list. Btw, I did use Solana once to mint some NFT shit and guess what - it was so clogged during that minting, it reminded me of Ethereum. The only difference is that Ethereum works even if it's clogged (true, transaction fees are very high at that time, but it works) and Solana didn't work.

And secondly, I'm aware what is the reason for big transaction costs. I'm just saying that currently there is not one blockchain suitable to be used in casinos to track inside transactions. We can argue which project will be first to achieve security, scalability and decentralization but that's not the point of this topic.

No. First, you don't need to use a decentralized blockchain to create a decentralized application. Secondly, if Solana has any differences in decentralization from ETH or bitcoin, then they are minimal. As for the tracking of internal transactions in the casino, why do you want to see them if we are not talking about a system of provable fair?

How would you create a decentralized application on a centralized blockchain? For example, you create decentralized application like casino on your centralized blockchain and then what? The users of that decentralized application have to trust you that you won't tamper with the transactions. What's the point of that?

[KTChampions]

No. First, you don't need to use a decentralized blockchain to create a decentralized application. Secondly, if Solana has any differences in decentralization from ETH or bitcoin, then they are minimal. As for the tracking of internal transactions in the casino, why do you want to see them if we are not talking about a system of provable fair?

How would you create a decentralized application on a centralized blockchain? For example, you create decentralized application like casino on your centralized blockchain and then what? The users of that decentralized application have to trust you that you won't tamper with the transactions. What's the point of that?

Easily. Let's say I create an immutable smart contract and run it. The only danger that remains is interference from the "owner" of the blockchain. But such a danger exists even now in absolutely all large (in terms of market weight) blockchains, by the way, you did not answer the question why do you need to track internal transactions in a casino? I'm really curious.

[slackovic]

Easily. Let's say I create an immutable smart contract and run it. The only danger that remains is interference from the "owner" of the blockchain. But such a danger exists even now in absolutely all large (in terms of market weight) blockchains, by the way, you did not answer the question why do you need to track internal transactions in a casino? I'm really curious.

But that's the whole point of decentralization - so users don't have tu TRUST the owner of the centralized blockchain.

As for the tracking of internal transactions, here is one example (I won't go into too much detail because I'm on the phone and it's hard for me to type on it ). Recently I heard that the owner of one Internet casino spent customers deposit. Of course he thought that he won't be caught because his plan was to invest that money, earn interest and give that money backwhile keeping the interest for him. Use of decentralized blockchain to track inside transactions would have prevented that. If he had used centralized blockchain, he could have easily tamper with the transactions and nothing would change.

[KTChampions]

Easily. Let's say I create an immutable smart contract and run it. The only danger that remains is interference from the "owner" of the blockchain. But such a danger exists even now in absolutely all large (in terms of market weight) blockchains, by the way, you did not answer the question why do you need to track internal transactions in a casino? I'm really curious.

But that's the whole point of decentralization - so users don't have tu TRUST the owner of the centralized blockchain.

As for the tracking of internal transactions, here is one example (I won't go into too much detail because I'm on the phone and it's hard for me to type on it ). Recently I heard that the owner of one Internet casino spent customers deposit. Of course he thought that he won't be caught because his plan was to invest that money, earn interest and give that money backwhile keeping the interest for him. Use of decentralized blockchain to track inside transactions would have prevented that. If he had used centralized blockchain, he could have easily tamper with the transactions and nothing would change.

And what is violated in this case? Users will not trust anyone, and the owner does not take negative actions due to the fact that by these actions he will devalue his blockchain. This is the implementation of Satoshi's ideas.
As for your answer, it is incomprehensible to me - if the owner of the casino spent money, then this is not an internal transaction and in any blockchain (decentralized or not) it is clear that the funds have left the casino.

[pinggoki]

Implementation of the blockchain or similar technology on gambling firms and use-cases is definitely a great move considering how it would help not only for the privacy of the players but the transparency as well of each game. This makes for like what OP said a much more responsible gambling environment where gambling firms and players do not take advantage or exploit each other's weaknesses. Although I myself don't know how they would be integrating blockchain technology.

Crypto gambling with the use of blockchain I guess is more quite effective because all of the transactions of the players are already credited with the blockchain which is more transparent for the user aware of having a took waiting time for the transaction to be a process. Also, we know how much secured with the use of blockchain technology I guess this kind of business adaptation might be applied not only with the gambling things too, sooner or later many people will appreciate the use of this.

Totally agree with you. People want transparency more than anything especially in the gambling industry where things can get pretty blurry and shady at times. Blockchain being integrated makes up for a much more visible and friendly gambling experience for players as they wouldn't have a looming sense of doubt over the gambling firm. also makes it easier for proofs to be presented into court.

[robelneo]

There's no wonder the Cryptocurrency gambling industry is a growing industry, fully established online gambling casinos are now adopting and integrating Cryptocurrency, with Cryptocurrency every transaction is transparent if there's an allegation coming from players he can show the explorer details to prove his allegations.
With Cryptocurrency we can help weed out bad actors from the industry and only reputable and transparent gambling operators can remain.