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

[iv4n]

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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's the same as with trading... centralized apps are much faster and offer a lot more than decentralized ones. So I can say that I prefer decentralized, but I am more active in centralized casinos. There are not a lot of decentralized casinos around that can offer so many games (especially third-party games we love) that the majority of people love, so most of us turn to centralized casinos.

And I don't wish to be a "smart ass" here, but the term "decentralized" is being used too easily... lets not forget that decentralized means that "no single person or group has control over something". And most casinos around have a boss. So I think we need to wait a bit more to see a "really decentralized casino".

[carlfebz2]

...
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's the same as with trading... centralized apps are much faster and offer a lot more than decentralized ones. So I can say that I prefer decentralized, but I am more active in centralized casinos. There are not a lot of decentralized casinos around that can offer so many games (especially third-party games we love) that the majority of people love, so most of us turn to centralized casinos.

And I don't wish to be a "smart ass" here, but the term "decentralized" is being used too easily... lets not forget that decentralized means that "no single person or group has control over something". And most casinos around have a boss. So I think we need to wait a bit more to see a "really decentralized casino".

Totally understandable that majority would really be considering centralized casinos in the end of the day. Why? It all matters with the user experience on which we know that it is really that totally different
if we do speak or tend to compare out on the easiness and comfort on playing into these platforms then we can really say that we could really be having that good on on centralized ones. Also,
it is quiet evident when it comes to demand and recognition then these platforms are way more in demand compared to those decentralized on which we dont even see that much of those things
in the market as of this moment. Even if there's one existing then i wasnt aware if its really that getting those sufficient number of players.

For sure one of the reason on why dex casinos didnt flourish that much because of lacks of demand and recognition on which it would really be normal that
they would really be having that kind low number.

[South Park]

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 doubt decentralized gambling will replace the casinos that we have now, and this is because we do not really have a need for them, a decentralized currency like bitcoin was urgently needed as central banks and governments around the world cannot stop themselves from printing money, decentralized exchanges are needed so we can exchange our coins freely without the governments trying to get into our business over an over again, but centralized casinos are fine as they are, and a decentralized option is not different enough or offer sufficient advantages to replace them.

[Viscore]

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 doubt decentralized gambling will replace the casinos that we have now, and this is because we do not really have a need for them, a decentralized currency like bitcoin was urgently needed as central banks and governments around the world cannot stop themselves from printing money, decentralized exchanges are needed so we can exchange our coins freely without the governments trying to get into our business over an over again, but centralized casinos are fine as they are, and a decentralized option is not different enough or offer sufficient advantages to replace them.

Bitcoin is decentralized but it's slowly losing its decentralization as the government are intervening hard trying to control us. When bitcoin and altcoins were created, the idea of decentralized casino came as well, but it was not successful due to its complexity and people wants a simple one and that is what they usually do before the crypto exist. Now, casinos and exchanges are regulated, so bitcoin is just acting like a digital payment when we are gambling because eventually at the end of the day you will have to convert it to cash to enjoy it, unless you are living in a country where bitcoin is accepted everywhere.

[temple]

Do Layer-2 networks such as Base and Optimism ring a bell? ETH can already scale to millions of TPS. At least, using one of the aforementioned off-chain scaling solutions. On-chain speaking, you'd need to wait until gas fees decline to make your bet. With developers working hard to address ETH's scaling issues, you can feel confident fees won't stay high forever.

I've always wondered why a decentralized prediction market like Augur lost its luster. Even with the high fees, that wouldn't have stopped someone from creating a fork on another chain with lower fees (or L2 network). Decentralized gambling holds great promise to revolutionize the gambling industry. But with high fees and low popularity, it will only remain a niche for gamblers. I'm afraid centralized gambling will continue to dominate the industry for long. The future is unpredictable, so we can only hope for the best. 

Of course Layer-2 networks bell a ring, but I admit I am not familiar with those implementations when it comes to decentralized betting applications. You can see the same issues with the Lightning Network and how it is still too much to handle for most people. I am not talking about the Bitcoin geeks, they know what to do, how to set it up and where to use it. But if there is a platform that wants to offer truly decentralized gambling, it should be no extra work for any gambler to get started or otherwise I'd expect many people to just stick with their centralized platforms. I am all for technological progress, but people are lazy.


Hm good question, I wondered the same because I can see real value in such a network. Vitalik Buterin explained it so well on his website with the help of a concrete example and yes, prediction markets could be amazing as it is far more than just a poll where people don't have to care about their answers as they are not putting anything at risk.

I think it will depend on whether or not authorities are able to fully enforce KYC regulation. So far they don't and I have been using several platforms without ever providing any KYC data. But I am only playing with small stakes.

[Oilacris]

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 doubt decentralized gambling will replace the casinos that we have now, and this is because we do not really have a need for them, a decentralized currency like bitcoin was urgently needed as central banks and governments around the world cannot stop themselves from printing money, decentralized exchanges are needed so we can exchange our coins freely without the governments trying to get into our business over an over again, but centralized casinos are fine as they are, and a decentralized option is not different enough or offer sufficient advantages to replace them.

Bitcoin is decentralized but it's slowly losing its decentralization as the government are intervening hard trying to control us. When bitcoin and altcoins were created, the idea of decentralized casino came as well, but it was not successful due to its complexity and people wants a simple one and that is what they usually do before the crypto exist. Now, casinos and exchanges are regulated, so bitcoin is just acting like a digital payment when we are gambling because eventually at the end of the day you will have to convert it to cash to enjoy it, unless you are living in a country where bitcoin is accepted everywhere.

There's no such thing about having no change or being constant on which sooner or later the things we've been get used to would really be that bound to have such change.Based up on what you have
elaborated that decentralization was actually the main thing that we are really that preferring and it is one of the main reason on why this market had boomed up but just as expected as for government to do such involvement then this kind of decentralization do make up some switch up or making some gradual changes on which people doesnt really have an option but to bare up with those changes.
Well, we cant really be able to avoid to tell that it is really something that gives out much better user experience and accessibility but in exchange on the anonymity that we are preferring into.

[Webetcoins]

just like you, i also didn't find any problems when using centralized casinos that enforce kyc on their users. the service they offer is also secure and i rarely encounter serious problems related to privacy and the games i play. so because of this good experience, i don't think i want to switch to using a decentralized casino, but i wouldn't mind if i was offered to play at a decentralized casino, but just to try.

I believe it's not about having problems with casinos, some people just don't like verifying their identity because they say it's against their privacy and they don't want to show their identity even to a platform because they started using cryptocurrencies so they could stay anonymous and this contradicts with their beliefs of the cryptocurrency industry, and to be honest, I don't blame them because it isn't a pleasant thing for a lot of people.

However, I also believe that if the platform is trusted, and if there are no other options available, then one should go for it on a trusted and reputable platform so that they don't face any issues when they go for depositing or withdrawing funds while gambling.

[Pumared]

just like you, i also didn't find any problems when using centralized casinos that enforce kyc on their users. the service they offer is also secure and i rarely encounter serious problems related to privacy and the games i play. so because of this good experience, i don't think i want to switch to using a decentralized casino, but i wouldn't mind if i was offered to play at a decentralized casino, but just to try.

I believe it's not about having problems with casinos, some people just don't like verifying their identity because they say it's against their privacy and they don't want to show their identity even to a platform because they started using cryptocurrencies so they could stay anonymous and this contradicts with their beliefs of the cryptocurrency industry, and to be honest, I don't blame them because it isn't a pleasant thing for a lot of people.

However, I also believe that if the platform is trusted, and if there are no other options available, then one should go for it on a trusted and reputable platform so that they don't face any issues when they go for depositing or withdrawing funds while gambling.

Sometimes not liking KYC is because you just don't see the point in providing this information to press a few buttons and place bets. This is why I always like more free betting sites.

[Abiky]

Of course Layer-2 networks bell a ring, but I admit I am not familiar with those implementations when it comes to decentralized betting applications. You can see the same issues with the Lightning Network and how it is still too much to handle for most people. I am not talking about the Bitcoin geeks, they know what to do, how to set it up and where to use it. But if there is a platform that wants to offer truly decentralized gambling, it should be no extra work for any gambler to get started or otherwise I'd expect many people to just stick with their centralized platforms. I am all for technological progress, but people are lazy.


Hm good question, I wondered the same because I can see real value in such a network. Vitalik Buterin explained it so well on his website with the help of a concrete example and yes, prediction markets could be amazing as it is far more than just a poll where people don't have to care about their answers as they are not putting anything at risk.

I think it will depend on whether or not authorities are able to fully enforce KYC regulation. So far they don't and I have been using several platforms without ever providing any KYC data. But I am only playing with small stakes.

Was it always about pleasing the regulators? Bitcoin was created as the anti-thesis of Fiat (national currencies). Its creator was a libertarian and cypherpunk. So if developers are interested in making the crypto industry truly-decentralized, they should look for what's best for the people. Not the regulators.

I'm afraid it's already too late, especially when governments are deep in the craze. To make matters worse, most developers have publicly-known identities. It's easy to catch them if governments want to enforce regulatory action on so-called decentralized apps or blockchains. In the gambling industry, the number of truly-decentralized casinos are rare. I'm fine with that as long as people have the option to gamble without KYC. Expect centralized casinos to dominate the industry for as long as it lives.

[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 think most of these scaling solutions failed to address how to reduce the size of smart contract interactions, which is why even though the base fee is low, any interaction costs a lot of money. Another reason is simply because the demand is too high and most people are fine paying that much fee for them. If a platform can package an interaction without incurring any fee and then take the fee when the user finishes their activity, maybe we will see cheaper fees on platforms like DEXs, decentralized lending platforms, etc. The fact that new products go live once in a while, and while it is not yet mainstream, shows that the demand will likely stay as long as privacy-conscious people exist.

Yeah, I quite agree with you I have been playing for a long time with Decentralized Finance and tried a different bunch of Decentralized Apps before and smart contract approval is not my thing, to be honest, and I don't really like it. The problem for decentralized apps in my opinion is a bunch of approvals I mean some apps use different methods such as "Sign" but anything to do with tokens like USDC or USDT always needs approval from the user first.

I like the method when the sites combine two centralized and decentralized methods, examples like you directly swap deposit withdraw, and sign-up using a smart contract and your address but when it comes to playing the game you don't really need approval.

Tho Decentralized gambling will of course still here and layer 2 keep improving I hear that opBNB only costs you $0.0032 on a single transaction this might be a solution or maybe there will be a gas less chain in the future

[ethereumhunter]

Was it always about pleasing the regulators? Bitcoin was created as the anti-thesis of Fiat (national currencies). Its creator was a libertarian and cypherpunk. So if developers are interested in making the crypto industry truly-decentralized, they should look for what's best for the people. Not the regulators.

I'm afraid it's already too late, especially when governments are deep in the craze. To make matters worse, most developers have publicly-known identities. It's easy to catch them if governments want to enforce regulatory action on so-called decentralized apps or blockchains. In the gambling industry, the number of truly-decentralized casinos are rare. I'm fine with that as long as people have the option to gamble without KYC. Expect centralized casinos to dominate the industry for as long as it lives.

When crypto becomes more popular like now, it seems it's hard to finds where we can playing gambling without KYC. When we can get one casino that doesn't apply KYC too strict, that's just beginning because when the casino grows and becomes popular, the government will takes on their eyes to that casino and will ask them to used KYC for their members. That's why we can only follow what's the rules for every casino and if we don't comfortable with the rules, we can try to search for the other casino.

Make sure you can playing gambling at the trusted casino, popular, have a good reputations so you don't have to worry if something bad happens. The governments now searching for the crypto business and trying to controls them so crypto business can just follow their rules.

[Pumared]

Was it always about pleasing the regulators? Bitcoin was created as the anti-thesis of Fiat (national currencies). Its creator was a libertarian and cypherpunk. So if developers are interested in making the crypto industry truly-decentralized, they should look for what's best for the people. Not the regulators.

I'm afraid it's already too late, especially when governments are deep in the craze. To make matters worse, most developers have publicly-known identities. It's easy to catch them if governments want to enforce regulatory action on so-called decentralized apps or blockchains. In the gambling industry, the number of truly-decentralized casinos are rare. I'm fine with that as long as people have the option to gamble without KYC. Expect centralized casinos to dominate the industry for as long as it lives.

When crypto becomes more popular like now, it seems it's hard to finds where we can playing gambling without KYC. When we can get one casino that doesn't apply KYC too strict, that's just beginning because when the casino grows and becomes popular, the government will takes on their eyes to that casino and will ask them to used KYC for their members. That's why we can only follow what's the rules for every casino and if we don't comfortable with the rules, we can try to search for the other casino.

Make sure you can playing gambling at the trusted casino, popular, have a good reputations so you don't have to worry if something bad happens. The governments now searching for the crypto business and trying to controls them so crypto business can just follow their rules.

I believe the opposite, the more people who join betting in general, the easier the process will be. Because you will want to have as many good things as possible there, so you need to make it easier for them to enter.

[Abiky]

When crypto becomes more popular like now, it seems it's hard to finds where we can playing gambling without KYC. When we can get one casino that doesn't apply KYC too strict, that's just beginning because when the casino grows and becomes popular, the government will takes on their eyes to that casino and will ask them to used KYC for their members. That's why we can only follow what's the rules for every casino and if we don't comfortable with the rules, we can try to search for the other casino.

Make sure you can playing gambling at the trusted casino, popular, have a good reputations so you don't have to worry if something bad happens. The governments now searching for the crypto business and trying to controls them so crypto business can just follow their rules.

It's no surprising that governments got its hands tied in all things crypto. Strong regulations forced most online casino operators to comply with KYC/AML standards. But rules don't apply to decentralized casinos. Especially if the creator is anonymous. The gambling dApp can't send profits to its creator for this to work.

With no one to hold accountable for, gamblers can place their bets in a decentralized casino without the need for KYC. I know it's hard for this to become a reality. But not impossible. Considering that centralized casinos still dominate the gambling industry, we should expect decentralized alternatives to become a niche to gamblers. At least, people have a choice.

[Huppercase]

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.

The answer is simple, people want things to be free and that's more reason why you see that despite the emergence of decentralized exchanges, people still preferred centralized exchanges. The only time you see people using decentralized exchange is when they know they can benefits from it like when meme coins were trending, lots of people tend to use decentralized exchanges just like the Solana reach highest volume on it's Dex this year and that's as a result of meme demand.

Casino are not different from this, Ethereum been the most popular is going to be a failure because of the high fees, you can't imagine wagering a game and then you are required to pay $10 for a fee to interact with a smart contract. People will lose interest unless there is something unique about the casino. I'm not sure whether even me I will do such kind of transaction for gambling, imagine wagering multiple times when you have only $100 for playing that session.

[Pumared]

When crypto becomes more popular like now, it seems it's hard to finds where we can playing gambling without KYC. When we can get one casino that doesn't apply KYC too strict, that's just beginning because when the casino grows and becomes popular, the government will takes on their eyes to that casino and will ask them to used KYC for their members. That's why we can only follow what's the rules for every casino and if we don't comfortable with the rules, we can try to search for the other casino.

Make sure you can playing gambling at the trusted casino, popular, have a good reputations so you don't have to worry if something bad happens. The governments now searching for the crypto business and trying to controls them so crypto business can just follow their rules.

It's no surprising that governments got its hands tied in all things crypto. Strong regulations forced most online casino operators to comply with KYC/AML standards. But rules don't apply to decentralized casinos. Especially if the creator is anonymous. The gambling dApp can't send profits to its creator for this to work.

The bad thing about the decentralized casino will be that it will only practically accept crypto. So, a good and innovative idea would be a p2p casino that accepts fiat and crypto, where the entire process is facilitated, thus allowing more people to have access to betting.

[joniboini]

The bad thing about the decentralized casino will be that it will only practically accept crypto. So, a good and innovative idea would be a p2p casino that accepts fiat and crypto, where the entire process is facilitated, thus allowing more people to have access to betting.

If you're talking about fiat money and not stablecoin, wouldn't that mean the government will likely step in and force them to implement KYC? Even if the casino somehow found a payment gateway that doesn't follow regulatory rules, or allows anonymous users to deposit fiat, wouldn't that be very risky for the players since there is a chance they will need to do KYC if some troubles pop up? I see this happens with some "decentralized" swap platforms, I believe it will happen with casinos or other platforms if they intend to use fiat directly. Besides, if the goal is privacy, I don't think this downside is a deal breaker for them. CMIIW.

[Hispo]

When crypto becomes more popular like now, it seems it's hard to finds where we can playing gambling without KYC. When we can get one casino that doesn't apply KYC too strict, that's just beginning because when the casino grows and becomes popular, the government will takes on their eyes to that casino and will ask them to used KYC for their members. That's why we can only follow what's the rules for every casino and if we don't comfortable with the rules, we can try to search for the other casino.

Make sure you can playing gambling at the trusted casino, popular, have a good reputations so you don't have to worry if something bad happens. The governments now searching for the crypto business and trying to controls them so crypto business can just follow their rules.

It's no surprising that governments got its hands tied in all things crypto. Strong regulations forced most online casino operators to comply with KYC/AML standards. But rules don't apply to decentralized casinos. Especially if the creator is anonymous. The gambling dApp can't send profits to its creator for this to work.

The bad thing about the decentralized casino will be that it will only practically accept crypto. So, a good and innovative idea would be a p2p casino that accepts fiat and crypto, where the entire process is facilitated, thus allowing more people to have access to betting.

Though I am not sure how a decentralized casino could accept deposits in FiAT in a practical way. Because most of the FIAT payment processors and banks are obviously centralized systems where people is supposed to trust their money in, unlike with cryptocurrency wallets and smarth contracts, which allow people to verify code and have a personal set of cryptographic keys.
Since we are talking about accepting Fiat for deposits and wager in online casinos, I am almost sure those who are interested into using Fiat will be enjoy enough to simply use stablecoins as a substitute for bank deposits.  You know, originally stablecoins were supposed to be a way for traders to access liquidity in the market and convert their Bitcoin and alternative currencies into a pegged token, but since their introduction those tokens have evolved into a pseudo-decentralized payments methods.

In the end, stablecoins are a solution for those casinos which try to be as decentralized as possible. It would be weird to sign up on a casino which is supposedly decentralized and yet, asks us to make bank transfers with Fiat.

[bettercrypto]

Of course, I will be lucky enough to win; that's why winning in gambling is also unpredictable. Which is usually where the majority of gamblers lose.
But nowadays, most gamblers who play are on centralized gambling platforms.

Also, the reputable gambling ones are mostly centralized-based platforms, and if there is a reputable casino that is Dex, there is also one, honestly speaking.
And I also think that majority of the players are also playing on centralized gambling casino.

[Abiky]

The answer is simple, people want things to be free and that's more reason why you see that despite the emergence of decentralized exchanges, people still preferred centralized exchanges. The only time you see people using decentralized exchange is when they know they can benefits from it like when meme coins were trending, lots of people tend to use decentralized exchanges just like the Solana reach highest volume on it's Dex this year and that's as a result of meme demand.

Casino are not different from this, Ethereum been the most popular is going to be a failure because of the high fees, you can't imagine wagering a game and then you are required to pay $10 for a fee to interact with a smart contract. People will lose interest unless there is something unique about the casino. I'm not sure whether even me I will do such kind of transaction for gambling, imagine wagering multiple times when you have only $100 for playing that session.

I understand people want to save as much money as possible. That's where Layer-2 scaling solutions come in. Gambling dApps can stay decentralized and cost-effective by operating on an L2 network of their choosing. Only developers of smart contracts can decide whenever they'd want to keep running their dApp on the main Blockchain or a separate, off-chain (L2) scaling solution. This is only the beginning. So, I'm confident gambling dApps will rival their centralized counterparts in the future. The sky is the limit to how far decentralized gambling will go.

It's hard to believe centralized casinos will go away after being on the industry for decades. They will remain the dominant force of the gambling industry due to their high liquidity, greater accessibility, and better user experience. The future is unpredictable, so we can only hope for the best.

[Pumared]

The bad thing about the decentralized casino will be that it will only practically accept crypto. So, a good and innovative idea would be a p2p casino that accepts fiat and crypto, where the entire process is facilitated, thus allowing more people to have access to betting.

If you're talking about fiat money and not stablecoin, wouldn't that mean the government will likely step in and force them to implement KYC? Even if the casino somehow found a payment gateway that doesn't follow regulatory rules, or allows anonymous users to deposit fiat, wouldn't that be very risky for the players since there is a chance they will need to do KYC if some troubles pop up? I see this happens with some "decentralized" swap platforms, I believe it will happen with casinos or other platforms if they intend to use fiat directly. Besides, if the goal is privacy, I don't think this downside is a deal breaker for them. CMIIW.

I believe the point here would be P2P. The platform would have P2P to take fiat currencies and exchange them for crypto. Some p2p will not report anyone because it is not advantageous. So in my view, the platform would intermediate this fiat p2p and would also accept crypto for games, etc.