A Blockchain Casino Where Everyone is a Shareholder

[XprojectCSX]

Hey everyone,

I’ve been diving deep into the concept of decentralized blockchain casinos, and I wanted to get your thoughts on an idea that could disrupt the online gambling industry.

What if instead of just betting, everyone could be a part-owner of the casino itself? Here’s how it could work:

The platform operates on smart contracts, ensuring provably fair games.
Instead of profits going to a central operator, earnings are distributed among token holders (similar to staking rewards).
Transparency is maintained via on-chain records—no hidden house edge manipulation.
Investors/players can vote on platform decisions via a DAO (Decentralized Autonomous Organization).
I see potential in making gambling more community-driven, allowing players to share in the profits rather than just hoping to beat the house.

Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

Let’s discuss. 🚀

[Zeus_xo]

Hey,

I think I've seen one or two attempts trying to achieve what you are suggesting. I've personally started doing some research some time ago on this GambleFi landscape and found two:

https://ridotto.io/
https://betfin.io/

Ridotto, seems kinda dead, I've tried to login with wallet and place some bets, but markets were not showing any odds after log-in, haven't studied as closely yet.

Betfin, only 3+1 games are live. Stakers are effectively casino owners. Staking contract for 80 weeks. Two pools Conservative (Player to player games, casino charges 3,6% with revenue accounting cycle every 7 days ) and Dynamic (backing so far 1 game, which is roulette, accounting cycle every 28 days). Pretty much all information on gitbook https://betfin.gitbook.io/betfin-public

I've staked my BET tokens on June 2024 with Conservative pool yielding 19% so far and Dynamic 49% so far. After 80 weeks my unlock date in Dec 2025, let's see.

Happy to learn about more similar project.

[EluguHcman]

Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

Let’s discuss. 🚀

I don't find this any unique because even at the existing casinos are there with partnership and shareholders of the Casino platform so there is just no interesting spice of yours.

I guess you should take the vision up to be executed by yourself so you can make all the money yourself but be sure your casino sites is genuine with good offers and services.
I think I am more comfortable being a gambler than being a Casino owner. Lol.

[DiMarxist]

I don't know if others have seen, personally, I have not seen anyone who came here to asked for questions to develop a casino and after gotten the advice and instructions from the forum. No casino development and nothing come out but those people are still active here in the forum advertising for other casinos instead of developing theirs as they came here with.
And I have not seen a decentralized casino talk less of blockchain casino. Op you would develop it and launched it to the internet and come here for reviews and other promotional. Anything decentralized and blockchain should be secretive. And not looking for other opinions. You want to develop a casino with public opinion.

[Agbamoni]

Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

Let’s discuss. 🚀

Most of the community based projects has always been a lie. In the end the power and profits is not giving to the community. The community begins to beg for the benefit of all the efforts and patine they have had since the start of the project. Mate people are no fool anymore, this wont work in gambling.

Everyone wants to see their profit sent directly to their account. They are not interest in owning a shares because they dont have access to the community funds. The project owners can run away with the funds and everything the gamblers have done with all be a wasted efforts.

Unless you can assure me that there is a way where the funds can be controlled and managed by the community and not the project owners?

[boyptc]

Instead of profits going to a central operator, earnings are distributed among token holders (similar to staking rewards).

There are plenty of established casinos here that have the same business model as yours. It's not the first time that we've seen the same.

And aside from that, there is another model that make gamblers and investors invest to the bankroll of a casino that they think they'll profit with.

You can continue with that idea of yours and see how it will go for you. But I don't think that someone who's got no reputation built just yet will be able to attract as your share<token>holders.

[NewCryptocasinos]

It would be interesting to see a decentralized casino being born here at Bitcointalk.org. A casino own by the community members.

I would buy the token

[Zeus_xo]

I think you are missing the point here re betfin. I've been in gambling industry more than 20 years and I think this time Betfin founders are out for some big success and I try to write few bullet points below:

- established casino owner getting all the casino profits, non of the gamblers can turn into it's casino owners
- betfin and it's affiliate/ aka network marketing goes into unlimited depth all on-chain tracked & irreversible
- from the network they pay in binary matching structure 8% out of 1% every stake again into unlimited depth

I think betfin founders nailed few elements which I think are pre-determinated for success.
- Gaming/gambling
- Dex ownership among all the stakers
- magic of crypto & smart contracts ...being able to create it's own coin that powers the whole eco-system
- network marketing with 49% float of all coins dedicated for network

Just if you look into tokenomics, this project is so clever made. 18% goes to founders locked for 3 years + 5 years vesting that's total 8 years until founders can get out. Now do the math current price 0.0023$ x 140,000,000,000 = 322 mil USD ... project is 10 months old and haven't even properly been launched, imagine price of the coin goes 3x to 0.0069$ then founders sits on 966 mil USD.

I've never seen more clever casino "based" project merged with network marketing.

Then watch this ... bf.casino ... they are out for stir up the landscape. bc.game that's basically where bf.casino is heading to with having the already existing and circulating or staked BET token being plugged into + all other coin deposit methods perhaps fiat .... coins like BC Token or Rollbit Coin does pretty much nothing.

You guys keep staking BET before this rocket fly.

Instead of profits going to a central operator, earnings are distributed among token holders (similar to staking rewards).

There are plenty of established casinos here that have the same business model as yours. It's not the first time that we've seen the same.

And aside from that, there is another model that make gamblers and investors invest to the bankroll of a casino that they think they'll profit with.

You can continue with that idea of yours and see how it will go for you. But I don't think that someone who's got no reputation built just yet will be able to attract as your share<token>holders.

I'm very sorry but you are as well like your friend here missing the point.

- Profits from staking goes to your wallet every 7 days from Conservative pool and 28 days from Dynamic pool. Smart contract is irreversible & audited by Certik. Devs can't change that, it's set in stone. So what saying is exactly what is happening on betfin "Everyone wants to see their profit sent directly to their account."

- there is auditor company certifying the smart contracts, which proves the all rules are being executed by smart contracts as advertised.

Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

Let’s discuss. 🚀

Most of the community based projects has always been a lie. In the end the power and profits is not giving to the community. The community begins to beg for the benefit of all the efforts and patine they have had since the start of the project. Mate people are no fool anymore, this wont work in gambling.

Everyone wants to see their profit sent directly to their account. They are not interest in owning a shares because they dont have access to the community funds. The project owners can run away with the funds and everything the gamblers have done with all be a wasted efforts.

Unless you can assure me that there is a way where the funds can be controlled and managed by the community and not the project owners?

Man you missing the point again here, it's actually funny, let me help you.

Imagine this. Betfin has no central entity such a company aka casino owners. UBO's (Ultimate Beneficial Owners) are in this case anonymous wallets spread around the globe who are getting paid casino revenues. This effectively is something you can't regulate, betfin can have stakers and players in every country, because hardly any regulator can chase currently over 14k stakers aka casino owners, who provided just wallet number.

"Anything decentralized and blockchain should be secretive" well you have U.S. President secretly launching his meme coin into his supporters and not telling anyone, just only he posted about it on his Twitter, but pssst it should be secretive.

I don't know if others have seen, personally, don't have not seen anyone who came here to asked for questions to develop a casino and after gotten the advice and instructions from the forum. No casino development and nothing come out but those people are still active here in the forum advertising for other casinos instead of developing theirs as they came here with.
And I have not seen a decentralized casino talk less of blockchain casino. Op you would develop it and launched it to the internet and come here for reviews and other promotional. Anything decentralized and blockchain should be secretive. And not looking for other opinions. You want to develop a casino with public opinion.

Sure man why not. You can get betfin white label aka Partners contract starting 12,000 USD without needed any licence, any company registration or formation, no paper work, no KYC. All you need is Polygon wallet to sign smart contract with, Polygon node servis and your domain.

Here you go https://betfin.gitbook.io/betfin-public/for-partners/faq-and-terms/partner-tariff-terms

It would be interesting to see a decentralized casino being born here at Bitcointalk.org. A casino own by the community members.

I would buy the token

[alani123]

To say that everyone is going to be a shareholder is an exaggeration. Maybe some shares could be distributed to the early players, but shares have to be scarce and limited. If the supply keeps growing then there's going to be inflation and the token will lose its value.

So while an interesting idea, you can't just keep distributing shares. And the other problem is, how are you going to keep players playing?
Unless the value proposition is there for the player ad well, then the casino isn't going to do well between the completion. Because for instance already the several centralized casinos have a large crowd of followers and some have even their own token too.

The decentralization to the contrary is a barrier to easy entry and moreso even adds extra fees etc. So in the end it's hard to compete and many decentralized platforms have already come and go due to these reasons.

[Zeus_xo]

If you open betfin.io and click on Tokenomics, you'll find out there will be on ever 777,777,777,777 BET tokens created.

Not everyone wanna be casino shareholder you are right! You can be gardener, waiter, chef, fireman whatever.

Supply is limited and the certain rules are also in play, that has implications on the rewards that comes from network that is the backbone of the whole betfin ecosystem, which creates demand for the coin, that will result in price going up.

How are you keep players playing? Well, globally there is millions of gamblers who can't stop playing, that's why Las Vegas and online casinos still making their living.

Centralized casinos is not why are we talking on this forum. Large crowd is because the burned zillions on marketing etc. Betfin do not need to burn zillions, they let it's users to spread the idea and actually offer business proposition against loosing money in casino like degenerates, by staking and creating network = because it's invitation only, if you wanna stake.

Here is invitation link to Betfin Academy with video tutorials explaining everything https://betfin.network/academy/new?ref=25798RS

Without invite of an existing member you can't stake, you can just play as a player.

To say that everyone is going to be a shareholder is an exaggeration. Maybe some shares could be distributed to the early players, but shares have to be scarce and limited. If the supply keeps growing then there's going to be inflation and the token will lose its value.

So while an interesting idea, you can't just keep distributing shares. And the other problem is, how are you going to keep players playing?
Unless the value proposition is there for the player ad well, then the casino isn't going to do well between the completion. Because for instance already the several centralized casinos have a large crowd of followers and some have even their own token too.

The decentralization to the contrary is a barrier to easy entry and moreso even adds extra fees etc. So in the end it's hard to compete and many decentralized platforms have already come and go due to these reasons.

[boyptc]

~snip~

You guys keep staking BET before this rocket fly.

I assume you're also OP that have made this thread. It's okay if this token of yours fly and skyrockets while I'm left behind.

Then, I'd be more than happy to see that you're raking in profits with your token then. No hurt feelings if I've missed the train.

But due to my past bad experiences, I'm not yet ready to take part of these casino tokens. I might just go invest directly into a bankroll than a casino token. Although I am not blind and recognizes that some of these casino tokens have been profitable.

[Zeus_xo]

No I'm not OP. I was searching if internet has recognized terms like 'decentralized casino ownership' and Google sent me to this thread, so I registered on this forum and joined conversation.

~snip~

You guys keep staking BET before this rocket fly.

I assume you're also OP that have made this thread. It's okay if this token of yours fly and skyrockets while I'm left behind.

Then, I'd be more than happy to see that you're raking in profits with your token then. No hurt feelings if I've missed the train.

But due to my past bad experiences, I'm not yet ready to take part of these casino tokens. I might just go invest directly into a bankroll than a casino token. Although I am not blind and recognizes that some of these casino tokens have been profitable.

[DiMarxist]

No I'm not OP. I was searching if internet has recognized terms like 'decentralized casino ownership' and Google sent me to this thread, so I registered on this forum and joined conversation.

~snip~

You guys keep staking BET before this rocket fly.

I assume you're also OP that have made this thread. It's okay if this token of yours fly and skyrockets while I'm left behind.

Then, I'd be more than happy to see that you're raking in profits with your token then. No hurt feelings if I've missed the train.

But due to my past bad experiences, I'm not yet ready to take part of these casino tokens. I might just go invest directly into a bankroll than a casino token. Although I am not blind and recognizes that some of these casino tokens have been profitable.

But your responses are not an internet researcher but clearly as a co founder or a worker to the Op of the thread. Since you have answered what the Op would answered. He has to let it be. The Op would have said something about the above comments but you answered all for him. Also answer his mind too. Or are you omnipresent in for the Op? Guy this is clear indication and nothing to denied.
What others thought is the same with me and I was also about to ask you if you are the alt to the Op when I saw this reply here so I don't have to asked again.

[boyptc]

No I'm not OP. I was searching if internet has recognized terms like 'decentralized casino ownership' and Google sent me to this thread, so I registered on this forum and joined conversation.

I assume you're also OP that have made this thread. It's okay if this token of yours fly and skyrockets while I'm left behind.

Then, I'd be more than happy to see that you're raking in profits with your token then. No hurt feelings if I've missed the train.

But due to my past bad experiences, I'm not yet ready to take part of these casino tokens. I might just go invest directly into a bankroll than a casino token. Although I am not blind and recognizes that some of these casino tokens have been profitable.

Okay, welcome to the forum then.

It's a good coincidence that you've ended up here while there are some discussions about the topic that you're looking for.

But your responses are not an internet researcher but clearly as a co founder of work to the Op of the thread

You're right about that.

But it's okay, let's give him the benefit of the doubt so that there could be more to this discussion. And let's see how OP will react as there have been some examples already given by zeus.

[Hispo]

I have indeed read about this concept of using Blockchain and smart contract technology to develop decentralized applications which could effectively make casinos provably fair and allow anyone to invest in their bankroll without going through so much problem, it would be quite similar to liquidity pools of those we can find on Defi protocols like Uniswap.
Though, as it stands for now, people seem to prefer to gamble and invest in centralized crypto casinos which have a long track record of liquidity and reliability, instead of venturing on those decentralized casinos (which could be very tempting targets for hackers).
I would not mind to participate in one of them with little money which I know I could afford to lose, it could be an appealing experience.

There is still a long way ahead before those kinds of casinos and betting platforms become popular on the internet and people understand how to use their private cryptographic keys to gamble and connect the decentralized applications.

[OgNasty]

I think this is the dream for many gamblers.  I haven't seen a casino do this right though.  It would probably take a massive effort to code some sort of completely defi casino that worked with shareholders so there is no single point of failure and everyone earns from the casino's profits.  Someone is probably working on it and I'm sure it will be a thing, but might take a while.  Casinos aren't exactly looking to reinvent the wheel or share profits with their customers.  I'm sure it will happen at some point though and will probably be a monster if it's truly decentralized.

[AmoreJaz]

I think this is the dream for many gamblers.  I haven't seen a casino do this right though.  It would probably take a massive effort to code some sort of completely defi casino that worked with shareholders so there is no single point of failure and everyone earns from the casino's profits.  Someone is probably working on it and I'm sure it will be a thing, but might take a while.  Casinos aren't exactly looking to reinvent the wheel or share profits with their customers.  I'm sure it will happen at some point though and will probably be a monster if it's truly decentralized.

That's the dilemma in setting-up this kind of casino because how would you know that it is totally decentralized? Of course, the people behind the set-up of the domain name itself have the control of what may happen to the site itself. I don't think it will be totally decentralized because at some point, someone needs to manage the site. Hence, the concept is not really new, but the implementation is quite challenging. The idea is great, but surely, there will be few individuals who will still have the full control of what's going on in the entirety of the business.

[Zeus_xo]

I'm simply one of the stakers in the eco-system so I'm biased towards betfin and to make it work. Such system would not be possible to run without introducing network marketing as backbone of the whole ecosystem. Let me share you few videos that explains the basics:

1# Introduction to Betfin https://youtu.be/dGUBODLXsyw?si=Jr0Ccu_S2SVIIEnG

2# Staking https://youtu.be/qtEQFoNi1F0?si=u6Cr2eEBn6WTCanS

3# Betfin Affiliate https://youtu.be/M_2BKrRmFw8?si=kbuKEnHw3b6nzXS8

4# Join the game https://youtu.be/wR23L4XOXfA?si=PJqo2ANS7S3zF1do

To understand our innovative eco-system, please visit Betfin Academy (ideally on Desktop) via following invitation link, that allows you to mint your own NFT access pass: https://betfin.network/academy/new?ref=25798RS   

Without staking, is not possible to invite others. Affiliate bonuses comes from other staking their coins to replicate the same economical behavior.  have same rules as everyone else in the eco-system.

The mind blowing feature for me personally is this binary matching bonus, explained here. https://betfin.gitbook.io/betfin-public/affiliate-manual/affiliate-explanation/binary-tree-and-matching-bonus/binary-matching-example

[dansus021]

A Blockchain Casino Where Everyone is a Shareholder

well that could work here at the crypto space there is shareholder like system called DAO that can refer to a Decentralized Autonomous Organization and of the function of DAO is DAOs use smart contracts to automate tasks like distributing funds, enforcing rules, and managing governance.

So in theory it just like the stock work in real life. if there is casino that created their own token there is probability that you can direct the company future, including profit sharing and etc by using proposal and submitted in web like snapshot if the other community agree then proposal is approved just same like general Meeting of Shareholders

[viljy]

Hey everyone,

I’ve been diving deep into the concept of decentralized blockchain casinos, and I wanted to get your thoughts on an idea that could disrupt the online gambling industry.

What if instead of just betting, everyone could be a part-owner of the casino itself? Here’s how it could work:

The platform operates on smart contracts, ensuring provably fair games.
Instead of profits going to a central operator, earnings are distributed among token holders (similar to staking rewards).
Transparency is maintained via on-chain records—no hidden house edge manipulation.
Investors/players can vote on platform decisions via a DAO (Decentralized Autonomous Organization).
I see potential in making gambling more community-driven, allowing players to share in the profits rather than just hoping to beat the house.

Would you be interested in such a model? What are the biggest risks and challenges you see in this approach? Looking forward to hearing your thoughts!

Let’s discuss. 🚀

Well, I'm definitely attracted to such an idea for a casino, where the casino operates on a smart contract. If you can create such a casino, I would definitely like to play there, as well as buy tokens from this casino. A casino without a human factor in its management and operation hypothetically seems to be quite reliable.