Blockchain and Gambling

[slackovic]

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.

Just out of curiosity... Which blockchain would you use to track casino inside transactions? Remember, on popular casinos there are thousands transactions per second. Do you know any blockchain that can sustain that amount of scalability and still remain secure?

[DU18]

blockchain is now starting to penetrate all fields in the world including gambling, a few years ago, gamblers used traditional gambling methods to play and this usually required gamblers to disclose a lot of personal information like credit card and personal data, but nowadays with the advancement of technology, casinoare starting to adopt cryptocurrency as a bet and of course this will maintain the anonymity of its users, besides the positive effect of gambling with the blockchain system is securing player information as well as removing certain restrictions and also having faster transactions and ini my opinion, casino with blockchain systems have more security and validation than gambling at traditional casinos.

[Kong Hey Pakboy]

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.

[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.

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.

[paxmao]

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.

Perhaps the solution to this could be an innovative blockchain that could actually show proof of fairness without giving away the details of the games played, the payers, etc... something that could potentially give you enough confidence, yet still be acceptable for a commercial entity or for a community driven project anyway. Just like Monero shows proof of transaction but does not reveal anything else.

[South Park]

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.

Disputes over the client and a provider of a service will always exist but having tamper proof evidence that one side is right like what it can be done with the blockchain is a game changer, however as someone that at some point worked on the service industry doing something similar to this I can tell you there are many clients that do not care about the evidence at all and will want things to be changed even if there is a huge deal of evidence that demonstrates that it is not possible and they accepted those terms.

[iv4n]

Well, in my case Blockchain was responsible for even more gambling! Before Blockchain I didn't gamble so much, here and there... but with the Blockchain and discovering all those games that were available for me for crypto it's was like a new world for me!
+6 years and lasting! I don't believe there's a game in crypto I didn't try... I am probably registered in all representative crypto casinos!

In my case Blockchain was responsible for more gambling and more spending, but I guess for some people it's another way around! That just speaks what I always say, you can't generalize all the people and all situations, simply there are always exceptions!

[timerland]

Yeah, the immutability of smart contracts on the blockchain is certainly a plus when it comes to settling bets.

Also you could potentially host games that depend on outcomes randomly generated by the blockchain itself.

Chain-bet has a cool feature where you can bet on the last digit of block hashes. Certainly worth taking a lot at.

[Fundamentals Of]

Blockchain is definitely a great improvement in the gambling industry. With blockchain, not only are data publicly available for anybody who wishes to check, these data are also resistant to tampering. So blockchain gambling gives some assurance to the players that everything is fair and transparent.

Conflict settlement will be much easier when blockchain is utilized in gambling platforms. The future for blockchain gaming is much brighter.

[hello_good_sir]

Theoretically, yes.

But in reality I think that you're not going to see a lot of complicated applications of blockchain in gambling for a long while.

I do think that cryptocurrencies will be increasingly used as the medium through which people transact with centralized casinos, but I definitely don't see integrations of smart settlement contracts for wagers any time soon.

[slackovic]

Theoretically, yes.

But in reality I think that you're not going to see a lot of complicated applications of blockchain in gambling for a long while.

I do think that cryptocurrencies will be increasingly used as the medium through which people transact with centralized casinos, but I definitely don't see integrations of smart settlement contracts for wagers any time soon.

Why? Once a blockchain is ready (meaning it's fast, secured AND decentralized) I see it's implementation as proof that casino can give to it's clients that they can't and won't tamper with any transactions. I'm not saying casinos are doing that now but with the blockchain implementation clients won't have to trust casinos because everything will be publicly visible on a ledger.

[Hydrogen]

One of blockchains known roles is maintaining the data integrity of transactions in a public ledger. Recently there has been an explosion in blockchains being used to maintain the integrity of databases in games. And it seems gambling establishments are also using blockchains to record and maintain the data integrity of gambling records.

There could be additional roles for blockchain maintaining the data integrity of internet archives, public records and similar information.

What might be cool is if some of the calculations the casino game engine uses to determine a win or loss result were recorded in a blockchain to maintain the authenticity and fairness of the system. That could be a next level of "provably fair". Although it could also be dangerous for casinos to divulge that much information about their algorithm. Maybe it could be done with the RNG (random number generator) algorithm omitted.

That's an interesting point on it being listed under privacy. They could use a private blockchain rather than a publicly accessible one.

[zanezane]

Just make the stuff that needs to be protected accessible to the public but at the same time, obfuscate the data so it has some confidentiality in it to help protect the business, that's the solution that I see regarding this one.

[dothebeats]

There are some instances wherein the parties who are in the wrong still want to pursue their own versions of truth in courts, and will drag things even further just to make a point, or just to avoid paying lots of money for settlement. The blockchain being an immutable ledger is a good thing for settlements of disputes, as was conveyed in the article. While it offers a robust database that no one can literally try to wipe off, or change even just a small bit of data without having lots of resources at their disposal, it isn't enough of a tool to enforce some policies or settle some things out of courts. Additional measures should also be observed and introduced in order for bet settlements to go smoothly without a hitch, both for the bettor and the platform.

[Dragonfund]

One of the advantages of blockchain over other revolutionary record keeping systems, in my opinion, is that data cannot be changed or corrupted, which is why it has so many applications in many parts of the globe, including gambling.
You can't cheat in gambling because you have to follow a protocol, but it's very limited because it stores data about user activity in some cases. Casinos have a higher level of centralization because all information is controlled within the system.
Anything can happen, and the house may utilize data as a survey to improve the user experience, thus lowering the user's chances of winning.

[mu_enrico]

Coingeek? A well known BSV promoter. Not sure if it's legit or just a promotional article to promote their blockchain and Calvin Ayre's circle
Anyways, the concept is already used in provably fair, especially with on-chain betting on POS coins. True, there will be more evidence when the bet is recorded in a blockchain, but it depends on the blockchain integrity as well. Also, don't forget about garbage in garbage out, yes, the bet result can be recorded in the blockchain, but it doesn't mean that the results are fair. Even if the results are fair and whatever, I'd still play 3rd party slots if the games suck.

[alegotardo]

So I recently read a very interesting article which actually defines about how blockchain is responsible for more responsible gambling.

I thought that currently all cryptography-based gambling already use blockchain for transparent play verification by players.
Are there any sites that don't do this yet? If there is, I believe the risk of manipulation by the house is quite large, I wouldn't particularly play on it.
Breaking out of this cryptography niche a little, it would be great if in the future all gambling (even fiat-based ones) used blockchain for a more transparent verification of all bets, I believe this becomes a trend in the not-too-distant future.

[Desmong]

So I recently read a very interesting article which actually defines about how blockchain is responsible for more responsible gambling.

I thought that currently all cryptography-based gambling already use blockchain for transparent play verification by players.
Are there any sites that don't do this yet? If there is, I believe the risk of manipulation by the house is quite large, I wouldn't particularly play on it.
Breaking out of this cryptography niche a little, it would be great if in the future all gambling (even fiat-based ones) used blockchain for a more transparent verification of all bets, I believe this becomes a trend in the not-too-distant future.

With the way things are going now and the block chain network is expanding faster, very soon Fiat mode of gambling will be less and it will be easier for world to gamble at the same spot without any secrecy. Everything will be much transparent and the mode of depositing and withdrawal will be easier than using Fiat for gambling transactions which always take time for it to be done.

[Sihab76]

The gambling sector might not have been so easy without blockchain technology. One can participate in online gambling from different countries of the world through block-chain technology. Moreover, through blockchain It is easier to withdraw and deposit.

[perfect999]

The gambling sector might not have been so easy without blockchain technology. One can participate in online gambling from different countries of the world through block-chain technology. Moreover, through blockchain It is easier to withdraw and deposit.

Yes, this blockchain technology give some very good improvement in fairness and transparency now most of online casino going with this all with better confidence in both sides players and casino both have fair things to do on this sometime back most of the punters was facing some serious issues regarding deposit and withdraw but after adopting this they have very quick access with this all which bring some revolutionary changes for this industry.

Biggest advantage for members is now they don't need third parties for solving their issues' blockchain can do this all with fairness and this is going to be acceptable for both parities.