What is a web3 casino for you?

[Distinctin]

Lately we have seen a lot of online casinos that are considering themselves as Web3.0 but in reality it’s just a name, they don’t over a real Decentralized experience for players.
So i want to know from you what’s are all the features an online casino should have to be considered as web3.0 casino?

This is quite new to me, but I think the current setup is okay as long as we gamble on gambling sites that have a good reputation. That web3.0 casino, my question is, does it bring convenience to gamblers? Because I have heard a lot about decentralized casinos in the past, but people are still patronizing centralized casinos. So, probably that kind of concept does not attract the interest of gamblers.

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[LUCKMCFLY]

Well, technically they can catch us, and they can do it pretty easily and to be precise, the hunt down has already begun. I read in a post recently that the authorities are planning to regulate decentralized platforms since they operate without proper licensing and such and they will need to comply with the rules and regulations as well.

So maybe very soon, even decentralized platforms will start asking for KYC from their users or they won't be able to use the platforms or even connect their wallets since that is how decentralized platforms are used basically.

It is unfortunate to have to experience things like this because the platforms that are decentralized are the ones that many players who do not want to give their KYC take advantage of and it is incredible how they can dominate,so this means that there will come a time when governments will force the people who must say how much their Finances are in crypto and accordingly take out a value that they have to pay, something like a tax, and people who are believers in government systems will do it, then this is something that if they don't It stops and things will get out of control,and little by little the governments of the world will take control over the pocket of each person with the excuse of protecting them.

[Wiwo]

Currently, the world is adjusting to Web 2.0 which itself took some time while Web 3.0 is the future, but some of the promises that these new crypto gambling sites made related to it are silly and unrealistic in my opinion.

They definitely won't be 100% decentralised sites or anything since that isn't realistic at all, but they will offer more freedom to the players when compared to centralised casinos for sure.

Web 3.0 basically helps decrease dependence on centralised entities to some extent which is a big plus.

We are already getting more deep into this advanced technology and development with the use of AI, it's a situation where you feel the reality of virtual world in the present time, it has advanced many areas of the economy including the gambling and yet we are still warming up and have not arrived, enough with the rule of the centralized gover in our lives, I believe the technology will bring more of the good than the bad I the nearest future.

I agree with the fact that technology is involved and a lot of new developments alongside hypes are being introduced into the e-gaming industry with the metered verse and yet coupled with web3 decentralized finance that make gaming experience upgraded and also brought with it a lot of its disadvantages.

But then,  I can't possibly fortune out a way that AI will play any significant role in this direction and as a matter of fact,  AI gaming has not been successful as a project.

[Plaguedeath]

I define web 3.0 casino is a decentralized casino where you can gamble without need to create an account and made deposit, just connect your non custodial wallet to the site and you can start to gamble. But I see centralized casino is using this feature and they claimed if they are a decentralized casino, this is misleading. They have their own terms of service where they not accept some countries, asking KYC, etc.

[klidex]

I define web 3.0 casino is a decentralized casino where you can gamble without need to create an account and made deposit, just connect your non custodial wallet to the site and you can start to gamble. But I see centralized casino is using this feature and they claimed if they are a decentralized casino, this is misleading. They have their own terms of service where they not accept some countries, asking KYC, etc.

This is still a hot topic of discussion in some of the gambling worlds, that many casinos claim to be web 3 casinos but are not in accordance with the system used by web 3.
Here there are also some casinos that you mean like centralized casinos but have a direct wallet connection system for gambling but they still ask their customers for KYC when they want to withdraw funds.
Until now I still haven't found a casino that really purely uses the web 3 system.

[Beparanf]

I define web 3.0 casino is a decentralized casino where you can gamble without need to create an account and made deposit, just connect your non custodial wallet to the site and you can start to gamble. But I see centralized casino is using this feature and they claimed if they are a decentralized casino, this is misleading. They have their own terms of service where they not accept some countries, asking KYC, etc.

This is still a hot topic of discussion in some of the gambling worlds, that many casinos claim to be web 3 casinos but are not in accordance with the system used by web 3.
Here there are also some casinos that you mean like centralized casinos but have a direct wallet connection system for gambling but they still ask their customers for KYC when they want to withdraw funds.
Until now I still haven't found a casino that really purely uses the web 3 system.

Web 3.0 has different interpretation and one of it is the use of blockchain to store someone data. This is same idea when a casino allowed to create an account using metamask since the user have the full control of his metamask which he can use to login and logout.

I think most of us think a different layer of web3.0 which is the full decentralized part on all the process. Casino indeed using a web3.0 technology when they allow a web3 wallet to connect  but also it’s just partial since the web3 part stop after connecting the web3 wallet. The rest still the normal centralized casino but we can’t remove that they really have the web 3 technology.

[Oshosondy]

This is quite new to me, but I think the current setup is okay as long as we gamble on gambling sites that have a good reputation. That web3.0 casino, my question is, does it bring convenience to gamblers? Because I have heard a lot about decentralized casinos in the past, but people are still patronizing centralized casinos. So, probably that kind of concept does not attract the interest of gamblers.

The blockchain casino in the past were not the web3 types. I have little knowledge about those casinos because I started to know about bitcoin in 2019. But as I know, I think you can gamble with bitcoin in a way that transactions are done onchain instead of using a centralised gambling site account.

With web3, you can connect your wallet directly to the gambling site. But if the gambling site is trustworthy, because as you are connecting the wallet, untrustworthy gambling site can know much about your private key which makes the so called web3 to be dangerous. It is nothing more than just those called smart contract decentralised exchanges are connecting to people's noncustodial wallet.

So both centralised or the so called decentralised casinos have their ups and downs.

Centralised casinos are the most common this days, but people have to be careful by reading their terms of services just like on anything platform we want to register an account on. Making sure you are verified before depositing money if it requires KYC. And making sure you obey their rules. Also web3 casinos have terms of service too though, which people needs to read carefully.

I think if a centralised casino is well reputable and trustworthy, they are not bad going for, but neither web3 casinos that are reputed are bad too. What that most matters is excellent reputation.

[Mr. Magkaisa]

I define web 3.0 casino is a decentralized casino where you can gamble without need to create an account and made deposit, just connect your non custodial wallet to the site and you can start to gamble. But I see centralized casino is using this feature and they claimed if they are a decentralized casino, this is misleading. They have their own terms of service where they not accept some countries, asking KYC, etc.

This is still a hot topic of discussion in some of the gambling worlds, that many casinos claim to be web 3 casinos but are not in accordance with the system used by web 3.
Here there are also some casinos that you mean like centralized casinos but have a direct wallet connection system for gambling but they still ask their customers for KYC when they want to withdraw funds.
Until now I still haven't found a casino that really purely uses the web 3 system.

Web 3.0 has different interpretation and one of it is the use of blockchain to store someone data. This is same idea when a casino allowed to create an account using metamask since the user have the full control of his metamask which he can use to login and logout.

I think most of us think a different layer of web3.0 which is the full decentralized part on all the process. Casino indeed using a web3.0 technology when they allow a web3 wallet to connect  but also it’s just partial since the web3 part stop after connecting the web3 wallet. The rest still the normal centralized casino but we can’t remove that they really have the web 3 technology.

       -   Besides the fact that web3 does not ask for kyc from gamblers who play on their platform, it doesn't mean that there is no risk,
of course it is no different from regulated casinos that have risk.

So if I look at it, it seems useless because it's almost the same even though the casino is not web3. Because there is still that risk for both of them on the platform when you gamble. It just looks like a safer casino with web3 maybe just in that aspect.

[maydna]

I define web 3.0 casino is a decentralized casino where you can gamble without need to create an account and made deposit, just connect your non custodial wallet to the site and you can start to gamble. But I see centralized casino is using this feature and they claimed if they are a decentralized casino, this is misleading. They have their own terms of service where they not accept some countries, asking KYC, etc.

That's how it seems but don't forget that web 3.0 casinos can also ask you to do KYC later, so it will be no different from the centralized casinos we are used to. The government will not spare its scrutiny in monitoring every casino, be it centralized or decentralized, because, for the government, it is another source of income for the country, so they feel the need to keep a close eye on it. But until that time comes, we can still feel safe and don't need to do KYC, even in centralized casinos, because the casinos haven't implemented it for all their members.

[Hispo]

I define web 3.0 casino is a decentralized casino where you can gamble without need to create an account and made deposit, just connect your non custodial wallet to the site and you can start to gamble. But I see centralized casino is using this feature and they claimed if they are a decentralized casino, this is misleading. They have their own terms of service where they not accept some countries, asking KYC, etc.

That's how it seems but don't forget that web 3.0 casinos can also ask you to do KYC later, so it will be no different from the centralized casinos we are used to. The government will not spare its scrutiny in monitoring every casino, be it centralized or decentralized, because, for the government, it is another source of income for the country, so they feel the need to keep a close eye on it. But until that time comes, we can still feel safe and don't need to do KYC, even in centralized casinos, because the casinos haven't implemented it for all their members.

The concept of Know your client regulations and Web3 casinos are not compatible, because the concept of the Web3 itself (not only on casinos but also in any kind of service) is the fact users, clients and gamblers can identify themselves only by holding their personal keys.

I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users. 

The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.

[maydna]

I define web 3.0 casino is a decentralized casino where you can gamble without need to create an account and made deposit, just connect your non custodial wallet to the site and you can start to gamble. But I see centralized casino is using this feature and they claimed if they are a decentralized casino, this is misleading. They have their own terms of service where they not accept some countries, asking KYC, etc.

That's how it seems but don't forget that web 3.0 casinos can also ask you to do KYC later, so it will be no different from the centralized casinos we are used to. The government will not spare its scrutiny in monitoring every casino, be it centralized or decentralized, because, for the government, it is another source of income for the country, so they feel the need to keep a close eye on it. But until that time comes, we can still feel safe and don't need to do KYC, even in centralized casinos, because the casinos haven't implemented it for all their members.

The concept of Know your client regulations and Web3 casinos are not compatible, because the concept of the Web3 itself (not only on casinos but also in any kind of service) is the fact users, clients and gamblers can identify themselves only by holding their personal keys.

I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users. 

The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.

And that's what makes the government keep an eye on anything decentralized and tries to pressure it to come under government control. It seems the government is really worried about losing its power in the future so they are trying to anticipate it from now on.

And even though the casino is web3 based, which only uses a personal wallet to play gambling, it does not guarantee that users are completely safe by not doing KYC because the casino can still ask for it in the future. And that's because there is government pressure on its casinos.

[slapper]

I define web 3.0 casino is a decentralized casino where you can gamble without need to create an account and made deposit, just connect your non custodial wallet to the site and you can start to gamble. But I see centralized casino is using this feature and they claimed if they are a decentralized casino, this is misleading. They have their own terms of service where they not accept some countries, asking KYC, etc.

That's how it seems but don't forget that web 3.0 casinos can also ask you to do KYC later, so it will be no different from the centralized casinos we are used to. The government will not spare its scrutiny in monitoring every casino, be it centralized or decentralized, because, for the government, it is another source of income for the country, so they feel the need to keep a close eye on it. But until that time comes, we can still feel safe and don't need to do KYC, even in centralized casinos, because the casinos haven't implemented it for all their members.

The concept of Know your client regulations and Web3 casinos are not compatible, because the concept of the Web3 itself (not only on casinos but also in any kind of service) is the fact users, clients and gamblers can identify themselves only by holding their personal keys.

I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users. 

The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.

Well, well, well, we've got ourselves a pickle here, don't we? Web3, with its key-toting, identity-hiding charm and governments with their magnifying glasses and compliance checklists. A match made in...well, not heaven!

But let's put our thinking caps on. What if we have a decentralized autonomous organization (DAO) for KYC? A place where users get themselves verified voluntarily, their data stored as an encrypted hash on the blockchain. Need to get into a Web3 casino? Flash your hash! Of course, this would need a buy-in from users and a change in regulatory stances. Do we see it happening? That's the million-Bitcoin question!

[Eureka_07]

Lately we have seen a lot of online casinos that are considering themselves as Web3.0 but in reality it’s just a name, they don’t over a real Decentralized experience for players.
So i want to know from you what’s are all the features an online casino should have to be considered as web3.0 casino?

Web3 casinos should be those casinos that operate in a completely decentralized manner, of which, KYC would not be necessary. Their games should also be decentralized, meaning no 3rd party is involved unlike what we currently have. I am not sure of this, but I think the bet winnings should be automatically credited to the player's wallet (e.g., Metamask); no need for wallet deposits and withdrawals as it would mean that the coins are being handled by the casino... and that's not what web3.0 decentralization is.

So to me, Web 3.0 casinos are MAINLY about decentralization.

[Casdinyard]

No such thing as of now, every casino that advertises themselves as "web3" is just a sham way to scam people, especially those who are into the idea of Web3. With that being said it's a possibility in the future, but with the way things are going now you'd have better odds seeing the metaverse take foot and run amidst all odds than seeing the entirety of the internet be decentralized in one go, no such technology to support, no real life use-case so there's no interest in creating it, and the concept is a little novel, so it's still trying to take shape. I felt like I went off a tangent here but the basic concept of a web3 casino is a casino that is operating on web3, which mainly means that it's decentralized, or at least partly.

[blockman]

These web3 casinos know that Bitcoin gambling is top-notch and most popular in terms of crypto gambling. I know that they're mostly for dApps and smart contracts. But that should be of exception and they should support Bitcoin gambling.

So to me, Web 3.0 casinos are MAINLY about decentralization.

I agree but there have been developers that don't follow what's mainly for decentralization with the usage of this web3.0 casinos and related apps. They're the ones that are breaking what's believed to be on it instead of making the actual thing, they're just hiding in the dress of web 3.0 but later on will be found as centralized and nothing is different from the usual ones we've got.

[Desmong]

Lately we have seen a lot of online casinos that are considering themselves as Web3.0 but in reality it’s just a name, they don’t over a real Decentralized experience for players.
So i want to know from you what’s are all the features an online casino should have to be considered as web3.0 casino?

This is quite new to me, but I think the current setup is okay as long as we gamble on gambling sites that have a good reputation. That web3.0 casino, my question is, does it bring convenience to gamblers? Because I have heard a lot about decentralized casinos in the past, but people are still patronizing centralized casinos. So, probably that kind of concept does not attract the interest of gamblers.

I still don't understand why people are always after the latest in trending and want to follow them. Now casinos too want to catch the heard of customers that is why they are very interested in tagging themselves a web3 casinos and at the same time, they will keep asking there customers for KYC which is not the main reason for a casino being a web3 casinos. This is obviously and we need to stay away from this kind of lies from casinos like this.

[dezoel]

The concept of Know your client regulations and Web3 casinos are not compatible, because the concept of the Web3 itself (not only on casinos but also in any kind of service) is the fact users, clients and gamblers can identify themselves only by holding their personal keys.

I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users. 

The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.

Well, Bitcoin is another thing, it is a coin and not a platform or a website, and it is not really that hard for them to find the owners of a platform since it has a website and they can easily get the details of the person who registered the domain, etc. If they want, they can easily reach the decentralized platforms and regulate them.

For now, they are not attacking decentralized platforms but they are in the verge of doing that, so it won't be wrong to say that in near future, the authorities will start either regulating or shutting down decentralized platforms as well, including casinos, exchanges, and everything else.

[lixer]

We are already getting more deep into this advanced technology and development with the use of AI, it's a situation where you feel the reality of virtual world in the present time, it has advanced many areas of the economy including the gambling and yet we are still warming up and have not arrived, enough with the rule of the centralized gover in our lives, I believe the technology will bring more of the good than the bad I the nearest future.

I agree with the fact that technology is involved and a lot of new developments alongside hypes are being introduced into the e-gaming industry with the metered verse and yet coupled with web3 decentralized finance that make gaming experience upgraded and also brought with it a lot of its disadvantages.

But then,  I can't possibly fortune out a way that AI will play any significant role in this direction and as a matter of fact,  AI gaming has not been successful as a project.

Web 3.0 basically has nothing to do with Artificial Intelligence, both are different technologies developed to serve different purposes. Web 3.0 will bring decentralization to the web and allow users to experience the best experience when they are using a website that has been created utilizing web 3.0 technology, it also provides the user with privacy.

Artificial Intelligence on the other hand is a different ball game altogether, it has been developed to help people with their tasks and works by providing the best solutions available by searching and finding out about it in data available from the past.

[RILWAN]

To me, web3 casinos are nothing but another hype which needs close attention since often than none most Web 3 end up being more centralized than expected and this has affected the overall outcome of their services.

[Hispo]

The concept of Know your client regulations and Web3 casinos are not compatible, because the concept of the Web3 itself (not only on casinos but also in any kind of service) is the fact users, clients and gamblers can identify themselves only by holding their personal keys.

I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users. 

The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.

Well, Bitcoin is another thing, it is a coin and not a platform or a website, and it is not really that hard for them to find the owners of a platform since it has a website and they can easily get the details of the person who registered the domain, etc. If they want, they can easily reach the decentralized platforms and regulate them.

For now, they are not attacking decentralized platforms but they are in the verge of doing that, so it won't be wrong to say that in near future, the authorities will start either regulating or shutting down decentralized platforms as well, including casinos, exchanges, and everything else.

They are not doing it because the comparison between the volume of decentralized services and centralized ones. One just need to take a look at an approximated volume of a casino like Stake, which is the leader on the industry and the volume of a casino running on smart contracts. The difference is huge, same with exchanges and decentralized exchanges.

Since there is more money being moved on the centralized market, there is where the law enforcement is going to focus on. Simple and to the point, money chances to regulate and catch people breaking rules and laws.