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

[Aniel Jay]

It depends on individual preferences and priorities. Decentralized gambling offers greater anonymity and potentially lower fees, while centralized gambling may provide more regulatory oversight and security measures. So I prefer Decentralized gambling.

[carlfebz2]

It depends on individual preferences and priorities. Decentralized gambling offers greater anonymity and potentially lower fees, while centralized gambling may provide more regulatory oversight and security measures. So I prefer Decentralized gambling.

I dont believe much about having that less fees because everything would really be that depending on the network. I've seen back in the past on having that Decentralized lotto on which in every bet you would be make then you would really be needing to push up a transaction on which means that it would really be costly if you do make transactions back and forth.Whereas, you would really be able to avoid all of these things on the time that you would be making use of centralized ones. Yes, it would really be totally opposing about decentralization on which this is something that we must really be tending to adopt or choose
but we cant really be able to deny that when it comes to comfort and accessibility or overall experience then nothing beats out on dealing up with those centralized casinos on which i could say that
this is something more better.

[Pumared]

It depends on individual preferences and priorities. Decentralized gambling offers greater anonymity and potentially lower fees, while centralized gambling may provide more regulatory oversight and security measures. So I prefer Decentralized gambling.

Indeed, the possibility of a centralized bookmaker is much greater, as it involves more cryptos and fiats. However, decentralization will be limited to cryptos and their processes.

[bluebit25]

Previously, I used to play offline more commonly, but when crypto became more popular, I started looking for some decentralized services to experience. Although in terms of scale, they are still too small compared to the market share of gambling, but for personal purposes, I think it meets the needs.

There are a few familiar names in the crypto space in terms of gambling, but they have never become a major force, and there are still some legal constraints that still exist, so there is promise in this field lots of exploitation potential.

[Wexnident]

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I'd say people care more about the reputation of the casino themselves and pretty much most of your average gamblers are pretty far into the KYC thing so I don't think gambling dApps have that much of an allure to them. At most, it'd be pretty equal with regular crypto at casinos and at that point, you'd mostly rely on their reputation to see which of the two types is better of which I'd assume centralized casinos would be voted above the other by quite the margin.

Ofc that's only at this point in time. Things might change really, especially if you consider how dApps can be the alternative for players in countries where gambling is banned/illegal.

[Z_MBFM]

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I'd say people care more about the reputation of the casino themselves and pretty much most of your average gamblers are pretty far into the KYC thing so I don't think gambling dApps have that much of an allure to them. At most, it'd be pretty equal with regular crypto at casinos and at that point, you'd mostly rely on their reputation to see which of the two types is better of which I'd assume centralized casinos would be voted above the other by quite the margin.

Ofc that's only at this point in time. Things might change really, especially if you consider how dApps can be the alternative for players in countries where gambling is banned/illegal.

Yes reputation is the most important thing, gambling site is centralized or decentralized it is not a big issue. Because doing KYC on a reputable site is not a problem, but on a new site, even if you give a chance to gamble without kyc, there is a lot of risk. there will be no problem of creating an account on the decentralized casino site because the site can be used only by connecting a wallet from the Dapp. But still I don't like it. Centralized exchange seems comfortable enough to me. so I am not thinking about decentralized casino sites now.

[LUCKMCFLY]

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.

Well, always being able to enter a Gambling platform with a system that accepts fiat and crypto money is something that is great, generally things that are done like that can mean a lot to some people, but that can mean doing things with less money and from wallet to wallet, in the case of fiat money, it can be understood with deposits and transfers between their banks, so that can be a better way to see things, but as long as it is done in a decentralized way, The benefits of Decentralized casinos are many, but if they stick to doing things like that, centralized casinos will always have their advantages, faster support, but the bad thing is the constant case of mandatory KYC, that is the most Uncomfortable thing about this, For that reason I think that the decentralized casinos will begin to float a little more, well at least that's what I can guess.

[Heartilly]

I prefer centralized gambling but it doesn't mean I'm not open to playing on decentralized gambling too.

Most crypto-gamblers want anonymity as to why they switch or prefer to play with crypto-gambling but maybe it's just me that I'm not comfortable gambling my money to a platform that I don't even know who's the person or team running behind it. I also want a gambling platform that is legit and follows the regulations. But if I saw an interesting bonus and promotion on a said decentralized gambling platform, there are big chance that I will test the water there.

[Pumared]

I prefer centralized gambling but it doesn't mean I'm not open to playing on decentralized gambling too.

Most crypto-gamblers want anonymity as to why they switch or prefer to play with crypto-gambling but maybe it's just me that I'm not comfortable gambling my money to a platform that I don't even know who's the person or team running behind it. I also want a gambling platform that is legit and follows the regulations. But if I saw an interesting bonus and promotion on a said decentralized gambling platform, there are big chance that I will test the water there.

In my view, decentralized betting houses need to have something different besides cryptos and anonymity so that they can attract customers.

[Abiky]

I'd say people care more about the reputation of the casino themselves and pretty much most of your average gamblers are pretty far into the KYC thing so I don't think gambling dApps have that much of an allure to them. At most, it'd be pretty equal with regular crypto at casinos and at that point, you'd mostly rely on their reputation to see which of the two types is better of which I'd assume centralized casinos would be voted above the other by quite the margin.

Ofc that's only at this point in time. Things might change really, especially if you consider how dApps can be the alternative for players in countries where gambling is banned/illegal.

The world is heading into automation and full digitalization of everything. AI, Blockchain, and Quantum Computing will become part of our lives in the future. This means we will rely less on middlemen, and more on decentralized protocols/technologies. We could have some sort of "hybrid" casino where there's no central operator involved, but the dApp itself complies with KYC/AML and accumulates profits for its creator (the developer of the contract). There will be a radical transformation of the gambling industry as we know it. Perhaps, it will take decades before we'll be able to witness such a thing. At least, the idea is there. Making it a reality is another story.

I'd expect decentralized gambling dApps to improve to a point where it becomes cost-effective to gamble on them (low fees) without delays (near-instant transactions). For now, centralized gambling will continue to dominate the industry.

[Pumared]

I'd say people care more about the reputation of the casino themselves and pretty much most of your average gamblers are pretty far into the KYC thing so I don't think gambling dApps have that much of an allure to them. At most, it'd be pretty equal with regular crypto at casinos and at that point, you'd mostly rely on their reputation to see which of the two types is better of which I'd assume centralized casinos would be voted above the other by quite the margin.

Ofc that's only at this point in time. Things might change really, especially if you consider how dApps can be the alternative for players in countries where gambling is banned/illegal.

The world is heading into automation and full digitalization of everything. AI, Blockchain, and Quantum Computing will become part of our lives in the future. This means we will rely less on middlemen, and more on decentralized protocols/technologies. We could have some sort of "hybrid" casino where there's no central operator involved, but the dApp itself complies with KYC/AML and accumulates profits for its creator (the developer of the contract). There will be a radical transformation of the gambling industry as we know it. Perhaps, it will take decades before we'll be able to witness such a thing. At least, the idea is there. Making it a reality is another story.

I'd expect decentralized gambling dApps to improve to a point where it becomes cost-effective to gamble on them (low fees) without delays (near-instant transactions). For now, centralized gambling will continue to dominate the industry.

I agree that there will be automation, it's a fact.  However, a hybrid casino is an idea that I have been talking about here.  Centralized companies will need to adapt to this, as will decentralized companies, both focused on capturing and facilitating customers.

[noormcs5]

It depends on individual preferences and priorities. Decentralized gambling offers greater anonymity and potentially lower fees, while centralized gambling may provide more regulatory oversight and security measures. So I prefer Decentralized gambling.

Do we have any good decentralized gambling options with us ? Even if they exist their fee will be much much higher as compared to the centralized gambling platforms. I think the gambling industry is yet to adopt and admit the decentralized nature of gambling and also the gambler's mindset needs to be shifted from the centralized trusted gambling platforms to the decentralized ones.

A lot of work needs to be done in Web 3.0 and its integration into the gambling industry. Until we get some solid good projects I will prefer centralized gambling and not take risks with the new decentralized platforms.

[Aniel Jay]

Let's get at how they operate first. Decentralized gambling offers greater anonymity and potential transparency, while centralized gambling may provide more oversight and security measures. The choice depends on individual priorities and preferences. At the moment I'm rooting for decentralised gambling.

[OgNasty]

I think decentralization is important and removes a lot of risk from a poor operator.  However, there are some times when you want to be able to blame an operator.  For example, if a decentralized casino gets hacked and all the funds stolen, you have no recourse at all.  However, if a centralized service gets hacked and all the funds stolen, you can still sue them or hope that they have the funds in reserve to be able to make everyone whole again.  Not saying that ever happens, but occasionally you see an exchange pay back hacked funds to users over time.  So there are advantages and disadvantages to both.

[goinmerry]

I think decentralization is important and removes a lot of risk from a poor operator.  However, there are some times when you want to be able to blame an operator.  For example, if a decentralized casino gets hacked and all the funds stolen, you have no recourse at all.  However, if a centralized service gets hacked and all the funds stolen, you can still sue them or hope that they have the funds in reserve to be able to make everyone whole again.  Not saying that ever happens, but occasionally you see an exchange pay back hacked funds to users over time.  So there are advantages and disadvantages to both.

I even mentioned before that in the incident of hacking and scamming where the involved casino is running anonymously (decentralized), their users will seek assistance from the authorities which leaves the question of how the case can be filed if the operators are hidden. The investigation can't also be started since where it is supposed to be should start.

These decentralized gambling platforms can also run away smoothly without being tracked. I know there's a contract to be executed so the bets are always secured but there are lots of things to do to initiate the trick of scamming.

It's good to be decentralized but I can't apply that to my gambling-related activity.

[Nwada001]

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.

Many people only like to use casinos that have already made a name for themselves so that they can rest assured that their money is safe with them and that they can handle any form of win that they get from the casino.
 
Aside from the reputation, decentralised casinos always have much fewer games compared to centralised casinos, as their programme might not allow them to add much or require them to do a lot of work in order to do that.
 
A few web3 casinos that I have tried before were all designed for a specific network, either for Ethereum, BSC, Polygon, or the Solona blockchain. It's only very few of them that have multiple smart contract connections, which could also add to the reason why most of them are not getting the kind of attention they might need.

[passwordnow]

We are for decentralization but as for these decentralized gambling, it's not all convenient at all. You have to connect your wallets here and there and if you keep logged in, there's a chance that someone might exploit the backdoor and you can potentially lose your funds. The convenience that the centralized gambling offers is totally what the people likes and that's the same for the exchanges that even if we don't like it that much but we have an assurance that we can do it there easier. Both has its pros and cons, I'd love to support decentralized gambling but with such platforms, developers need to maintain them and they have no difference from the operators of the centralized casinos. It's quite confusing isn't it? but there will always be the centralized authority that should control the ins and outs of the gambling operation of a platform. Because whether we like it or not, at the end of the day, it's going to be our preference and if you've got some good experience doing it on decentralized gambling then that's good as you preferred to do it there.

[iv4n]

I prefer centralized gambling but it doesn't mean I'm not open to playing on decentralized gambling too.

Most crypto-gamblers want anonymity as to why they switch or prefer to play with crypto-gambling but maybe it's just me that I'm not comfortable gambling my money to a platform that I don't even know who's the person or team running behind it. I also want a gambling platform that is legit and follows the regulations. But if I saw an interesting bonus and promotion on a said decentralized gambling platform, there are big chance that I will test the water there.

In my view, decentralized betting houses need to have something different besides cryptos and anonymity so that they can attract customers.

They need more markets... like with exchanges, centralized services have many more offers than decentralized ones, which rely on p2p. So even thou we all know that decentralized services offer anonymity and better security we still favor centralized exchanges and casinos, because we have more offers. At least that's my opinion based on my experience in the past years.

There is a lot of talk about decentralization, and many services use the word for their self-promotion, but it seems to me that many do not know what the word actually means.

[Antotena]

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.

There is no way this is going to work in the marketing aspect even if it work in technical aspect. People prefer what is simple and easy to use. Let's even say that this concept can work in with casino sportsbets since you don't need to interact that much with smart contracts but how about casino games, this will work but to be honest is going to discourage a lot of gamblers, it's not going to be like a new concept they are not used to and the disadvantage of this is that, if they don't understand it, they will move to another casino that will be more easy than this one.

If we look at it from another angle, the government might not approve many casinos because of this decentralized aspect of it, some countries are very sensitive when it comes to anything that has to do with blockchain and decentralization and AML requirements, that's like prole will not be gambling without need for registration and that's will not make some gambling platform become approve by the government.

[OceanBit]

I personally uses both for different transactions. They have their own advantages and disadvantages. For quick and low costs transactions, I prefer centralized, while for trust and transparency, I prefer decentralized platforms. The choice depends on individuals preferences and priorities.