Decentralized vs Centralized Gambling....Which do you prefer?

[Hypnosis00]

When decentralized gambling sites were introduced, we thought it would change the landscape of the gambling industry, but unfortunately, it didn't happen. Although there are already a lot of decentralized casinos now, they are not as popular as the centralized casinos, so in this battle, the centralized casinos win. The use of crypto in casinos now is more on the payment system only, and the promise of anonymous gambling is slowly fading since if a casino acquires a license, it will always have to comply with the regulators, which users must submit for KYC.

[temple]

Thanks to the inception of smart contracts, we can now enjoy decentralized gambling in a provably fair way. I've used a few gambling dApps in the past, and the experience was great. Except now that dApps charge high gas fees (on ETH) due to increased network congestion. But with L2 scaling solutions and alternative chains, this should no longer be a problem.

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks.

It is a question of friction and for as long as the decentralized gambling apps charge high fees and have no check and quick on- and off-ramp solutions, I think centralized versions will keep dominating.

Think about the need for L2 scaling solutions and how far we have come until now. It is not impressive what has been done so far. Barely anyone is using L2 solutions because they are still too cumbersome to set up. L2 solutions benefit from network effects the same way that BTC itself benefits from network effects. If not many people are using it, the growth of available L2 network solutions will be slowed down tremendously or fully stagnating.

In general, decentralized gambling is amazing although it is important to have a closer look at the oracle solutions that settles the bets. If you are talking about casino games where the RNG can be looked into and verified, then it is less of a problem. But when it comes to sports betting or any kind of betting where data needs to be fed into the smart contract in order to correctly settle the bet, oracles are needed.

Alternative chains could be a solution but that again means friction. If someone mostly uses BTC, but has to switch over to ETH or TRX, there is again friction involved.

[Abiky]

The fact that a game is built with a smart contract is not enough to call a casino decentralized because the guys who generate that smart contract are the ones who create the rules of the game and the ones who will get profit in the long run. I don't see what doesn't have of decentralized. I mean the community can't change the house edge, that would be a good example of how a decentralized project works.

For me, all of them are centralized, but they use different technologies to operate, that's all.

Some smart contracts are built this way. The developer can decide if he/she wants the profit to be transferred to his/her address, or remain on the contract itself (to pay for gas fees, etc). Decentralized gambling could have a future if governments start cracking down on centralized gambling sites (particularly those dealing with cryptocurrencies).

Gamblers will ultimately decide which kind of casino or gambling site is best for them. As long as gambling is done in a fair & responsible way, nothing else matters.

[Yatsan]

Decentralized is what I prefer to avoid big taxes and also, gambling is not totally allowed in my country which quite creates a barrier or limitation for gamblers to bet. But I do still play with centralized gambling sites in some games which are not available with web 3.0

If your question is between centralized or decentralized gambling, it is certain that more people will choose decentralization because it is based on openness.
In contrast to neutralization, it will definitely be regulated by the authorities or those who have complete control over the world of gambling.
But the problem is that few gambling players understand DeFi.

No guarantee that more people would do so. Of course if it is within this forum, there would be a larger number of people to choose decentralized gambling sites over the other option simply because we are 'aligned' with understanding in this technology. However, there would still be gamblers outside this forum to choose centralized platforms simply because for them it is more secured and more trustworthy given that those platforms are often registered. Same thing goes with the medium or mode of transactions. We may have different preferences, but bottomline is many people are into gambling activities. It could either be good or bad depending on the gambler him/herself, when it comes on how loss or profit will be taken accountability of.

[_act_]

No guarantee that more people would do so. Of course if it is within this forum, there would be a larger number of people to choose decentralized gambling sites over the other option simply because we are 'aligned' with understanding in this technology.

We should not call it decentralized but web3. Web3 has been used several times to defraud people that connects to a fake websites. That will make us see more fake gambling sites that clone a legit one just to deceive some people to connect to their site so that they can wipe their victims money and steal it. I prefer centralized gambling sites. People on this forum prefer centralized gambling sites as long as it is reputable.

[arjunmujay]

Decentralized is what I prefer to avoid big taxes and also, gambling is not totally allowed in my country which quite creates a barrier or limitation for gamblers to bet. But I do still play with centralized gambling sites in some games which are not available with web 3.0

If your question is between centralized or decentralized gambling, it is certain that more people will choose decentralization because it is based on openness.
In contrast to neutralization, it will definitely be regulated by the authorities or those who have complete control over the world of gambling.
But the problem is that few gambling players understand DeFi.

No guarantee that more people would do so. Of course if it is within this forum, there would be a larger number of people to choose decentralized gambling sites over the other option simply because we are 'aligned' with understanding in this technology. However, there would still be gamblers outside this forum to choose centralized platforms simply because for them it is more secured and more trustworthy given that those platforms are often registered. Same thing goes with the medium or mode of transactions. We may have different preferences, but bottomline is many people are into gambling activities. It could either be good or bad depending on the gambler him/herself, when it comes on how loss or profit will be taken accountability of.

It's true, gamblers out there who think they are still unfamiliar with the world of crypto or WEB3 will choose centralized gambling.
However, it could be that a few years later, when the world of technology continues to develop and from WEB 2 has started to shift to WEB3, you will definitely prefer decentralized gambling.
and because it is changing times, like it or not, casinos also have to keep up with the times and move there too to retain their gamblers.

[arjunmujay]

No guarantee that more people would do so. Of course if it is within this forum, there would be a larger number of people to choose decentralized gambling sites over the other option simply because we are 'aligned' with understanding in this technology.

We should not call it decentralized but web3. Web3 has been used several times to defraud people that connects to a fake websites. That will make us see more fake gambling sites that clone a legit one just to deceive some people to connect to their site so that they can wipe their victims money and steal it. I prefer centralized gambling sites. People on this forum prefer centralized gambling sites as long as it is reputable.

That's normal, the pros and cons will definitely still be there. never mind centralized or decentralized casinos.
Before many people knew about Bitcoin like this, many people avoided it because at that time Bitcoin was used by hackers to ask for ransom. and only used on the darkweb.
However, gradually, Bitcoin is becoming increasingly known and has even become a future investment instrument.

[Pumared]

The fact that a game is built with a smart contract is not enough to call a casino decentralized because the guys who generate that smart contract are the ones who create the rules of the game and the ones who will get profit in the long run. I don't see what doesn't have of decentralized. I mean the community can't change the house edge, that would be a good example of how a decentralized project works.

For me, all of them are centralized, but they use different technologies to operate, that's all.

I don't think it needs to be centralized in the sense that only the house wins. But it can be decentralized where it provides bets and has a low fixed rate and the events are paid according to the bettors themselves (without the house changing these odds). I think this would be an important step, as they would win not only in the number of people betting, but in the number of events as well.

[dansus021]

But with L2 scaling solutions and alternative chains, this should no longer be a problem. with layer 2 like Matic is totally fine since they are using their native token as a gas fee. But today L2 scaling let say Linea, Zk Sync and other like Arbitrum still occur a high fee in my opinion I recently claims a token for daily login in some airdrop the fee still at the rate 0.5-1$ I know that some people consider this as cheap than the regular L1 like ETH that can cost up to 10-15$ but if we accumulate that it could be a huge.

I still prefer Centralized Gambling with bunch of option of coin that decentralied with a huge fee

[Questat]

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks.

Based on the current situation, it doesn't seem like it's even close on replacing. Centralized casinos still dominate the gambling industry, not that people are not support DEX but they still prefer the traditional casinos as it's still simplier to use. If Decenralized casinos were to succeed, it has already dominated the crypto gambling space but it has not perform as expected, so we are not seeing our expectation now, I don't expect to see it in the future.

[goldkingcoiner]

Thanks to the inception of smart contracts, we can now enjoy decentralized gambling in a provably fair way. I've used a few gambling dApps in the past, and the experience was great. Except now that dApps charge high gas fees (on ETH) due to increased network congestion. But with L2 scaling solutions and alternative chains, this should no longer be a problem.

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks.

I would rather prefer decentralized gambling but not the green, immature tech version of it. There are also a lot of pitfalls that you have to watch out for, for example connecting your wallet to a scammer's fake service. But once the tech develops more, I think I would prefer it to a centralized platform that holds my money hostage. But to each his/her own. Some people claim that they would rather choose convenience and the illusion of security over decentralized freedom. 

[Solosanz]

The true decentralized casino offers you to gamble without need to access a centralized platform, but you can gamble by installing their casino and run it in your device. If you're need to access a centralized platform even though you can gamble without register an account, it's just a different way to gamble, not necessary decentralized.

Since both web 3.0 casino and centralized casino are same, it's not really different, but it seems centralized casino is safer because web 3.0 casino is full of scam.

[Slow death]

The fact that a game is built with a smart contract is not enough to call a casino decentralized because the guys who generate that smart contract are the ones who create the rules of the game and the ones who will get profit in the long run. I don't see what doesn't have of decentralized. I mean the community can't change the house edge, that would be a good example of how a decentralized project works.

For me, all of them are centralized, but they use different technologies to operate, that's all.

Some smart contracts are built this way. The developer can decide if he/she wants the profit to be transferred to his/her address, or remain on the contract itself (to pay for gas fees, etc). Decentralized gambling could have a future if governments start cracking down on centralized gambling sites (particularly those dealing with cryptocurrencies).

Gamblers will ultimately decide which kind of casino or gambling site is best for them. As long as gambling is done in a fair & responsible way, nothing else matters.

I remember that a few years ago people thought that they could fight against governments, they thought that governments did not cause fear and that therefore they could create financial services without worrying about things like licenses, kyc and money laundering. With this thought, many exchanges, mixers, icos, defi and crypto casinos emerged. but governments started to show their great terrifying power by learning the mixers and their creators and the dark web guys and to show the terrifying power that governments have, and that the courts when they judge these mixer owners, they impose prison sentences heavy, with few charges such as money laundering, operating an unlicensed website and then putting many years in prison without rights to freedoms so soon, they look like terrorists being tried

And the problem doesn't end there, as these are crimes committed on the internet, soon other countries will also introduce high prison sentences, so the person will be sentenced to prison in many countries, so the person will die in prison. This means that someone who wants to operate a casino must follow the laws, get a license, do KYC so that in the future they don't see their casino being seized by the government and the owner being arrested and left in prison until his death. Honestly, in my opinion, I advise all casino owners to respect the laws and not create anything that could lead to imprisonment, because it's not worth defying governments. and a fight in which the person loses

[Zadicar]

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks.

Based on the current situation, it doesn't seem like it's even close on replacing. Centralized casinos still dominate the gambling industry, not that people are not support DEX but they still prefer the traditional casinos as it's still simplier to use. If Decenralized casinos were to succeed, it has already dominated the crypto gambling space but it has not perform as expected, so we are not seeing our expectation now, I don't expect to see it in the future.

So for those who have been saying about decentralized casinos could replaced centralized ones. I would like to know about some list of names about those decentralized ones?
For sure only a few people do know about their existence since this market is really that been dominated by centralized casinos on which i do agree into those points above that
that when it comes to user interface and overall playability then i could say that centralized platforms are really that good looking and something you could
really be able to say that user experience is really that whole different on which i could say that its not that hassle.

[Cookdata]

When decentralized gambling sites were introduced, we thought it would change the landscape of the gambling industry, but unfortunately, it didn't happen. Although there are already a lot of decentralized casinos now, they are not as popular as the centralized casinos, so in this battle, the centralized casinos win. The use of crypto in casinos now is more on the payment system only, and the promise of anonymous gambling is slowly fading since if a casino acquires a license, it will always have to comply with the regulators, which users must submit for KYC.

There is this recent one I review last year November, the casino is still in Beta mode and not fully functional and what I saw in the casino is entirely different from the regular casino. If there is something unique that I love about the casino then it should be fairness through data feed from Chainlink, the casino can't cheat you and the house edge is usually small but it is not not light in operation like the regular casino and many games that we have in normal casinos are not there.

I'm addiction, the casino isn't patronized like the regular casino because they don't give bonus like centralized casino. To do the bonus thing, they have to freely create a smart contract with loaded wallet which is going to be another excess money for marketing but the centralized casino used numbers in their database and when gamblers play, they only worry to pay them from hot wallet if they win and with the condition attached, most often they lose these rewards. Centralized casino might not be the best but not as complicated as decentralized casinos.

[killerfrost]

The realm of online gambling has witnessed a fascinating evolution, with centralized platforms like traditional online casinos dominating the landscape for years. These platforms offer user-friendly interfaces, fast transaction speeds, and a familiar experience for players. However, concerns regarding fairness, transparency, and control over funds have persisted.

Enter decentralized gambling, powered by blockchain technology. This innovative approach promises enhanced transparency through verifiable randomness and public ledgers, increased security with self-custody of funds, and greater control for players. But decentralization comes with its own set of challenges, namely slower transaction speeds, potential for user error leading to irreversible consequences, and the evolving regulatory landscape surrounding blockchain technology.

[bittraffic]

The fact that a game is built with a smart contract is not enough to call a casino decentralized because the guys who generate that smart contract are the ones who create the rules of the game and the ones who will get profit in the long run. I don't see what doesn't have of decentralized. I mean the community can't change the house edge, that would be a good example of how a decentralized project works.

For me, all of them are centralized, but they use different technologies to operate, that's all.

Some smart contracts are built this way. The developer can decide if he/she wants the profit to be transferred to his/her address, or remain on the contract itself (to pay for gas fees, etc). Decentralized gambling could have a future if governments start cracking down on centralized gambling sites (particularly those dealing with cryptocurrencies).

Gamblers will ultimately decide which kind of casino or gambling site is best for them. As long as gambling is done in a fair & responsible way, nothing else matters.

There is trust involved in gambling to which platform. In a decentralized casino, the users are still up to trust the casino. Fair and responsible aren't enough for gamblers since they wanna know who is behind the casinos whether it's dex or cex.

They will still suspect whether the owner of the decentralized casino will scam them, although they are not depositing coins but we all have seen people connecting their wallets to a platform and their tokens are sent out.

[Abiky]

Decentralized is what I prefer to avoid big taxes and also, gambling is not totally allowed in my country which quite creates a barrier or limitation for gamblers to bet. But I do still play with centralized gambling sites in some games which are not available with web 3.0

That's the idea. To be able to gamble online regardless of government regulations and/or restrictions. Decentralized casinos don't require KYC, and are usually governed/managed by the rules embedded within smart contracts. A few of them don't collect profits for the creator of the contract (making them fair). I sure hope we get to see more decentralized gambling dApps that would make gamblers' lives easier. Particularly those living in restrictive countries such as China and Russia.

With the future set to be dominated by AI, the Blockchain, and Quantum Computing, I wouldn't be surprised if decentralized gambling replace (or becomes comparable to) their centralized counterparts in the long run. Just my thoughts

[Lanatsa]

The fact that a game is built with a smart contract is not enough to call a casino decentralized because the guys who generate that smart contract are the ones who create the rules of the game and the ones who will get profit in the long run. I don't see what doesn't have of decentralized. I mean the community can't change the house edge, that would be a good example of how a decentralized project works.

For me, all of them are centralized, but they use different technologies to operate, that's all.

Some smart contracts are built this way. The developer can decide if he/she wants the profit to be transferred to his/her address, or remain on the contract itself (to pay for gas fees, etc). Decentralized gambling could have a future if governments start cracking down on centralized gambling sites (particularly those dealing with cryptocurrencies).

Gamblers will ultimately decide which kind of casino or gambling site is best for them. As long as gambling is done in a fair & responsible way, nothing else matters.

There is trust involved in gambling to which platform. In a decentralized casino, the users are still up to trust the casino. Fair and responsible aren't enough for gamblers since they wanna know who is behind the casinos whether it's dex or cex.

They will still suspect whether the owner of the decentralized casino will scam them, although they are not depositing coins but we all have seen people connecting their wallets to a platform and their tokens are sent out.

There's always that particular risks that we would really be able to face on on which it would really be normal that we would really be having those doubts and hesitance on the time that
people would really be connecting out their wallets on a decentralized platform then this do still impose such risks if they dont know on the things that they doing and dealing with it.
We do know or been wary about those hacked wallets or funds on connecting it out into some random platforms. So far i havent seen one that involves a gambling site
but i dont see about for myself on touching up these places.

I do still prefer Centralized gambling although KYC could really be that a possible thing to be asked but it wont really be that an issue if you do really
havent done something stupid then there should be no problems. When it comes to threshold then you wont really be having no issues as well in regarding to this.

[Pumared]

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks.

Based on the current situation, it doesn't seem like it's even close on replacing. Centralized casinos still dominate the gambling industry, not that people are not support DEX but they still prefer the traditional casinos as it's still simplier to use. If Decenralized casinos were to succeed, it has already dominated the crypto gambling space but it has not perform as expected, so we are not seeing our expectation now, I don't expect to see it in the future.

Exactly, I think that centralized casinos will still reign for a long time because it is much more fun physically to be there. However, online is not left behind, as it brings ease and anywhere. So DEX needs a lot to be able to stand out from this.