Blockchain technology in casinos
Blockchain technology is now already used in many gambling establishments. More often than not, they offer the simplest games and do not appeal to experienced gamblers. However, gradually, reputable online casinos are starting to implement blockchain to protect their visitors. So it is important to know how to choose the right ones for your pastime.
How blockchain casinos work
Blockchain in casinos works in the following way: the establishment uses smart contracts to keep records of transactions on the blockchain. The tokens in this case are used as a counterpart to the chips.
In the process of visiting such a casino, the player deposits money, and the smart contract translates the deposit into tokens, and then credits the tokens to his personal account. It is worth realising that visiting a blockchain casino is just as safe as visiting a standard club. Establishments obtain licenses, without which they cannot open a bank account or use slot machines. Clubs are monitored by regulators, who can revoke a license if management begins to cheat visitors.
Interestingly, some regulators cooperate with blockchain module manufacturers. This simplifies scrutiny, as all blockchain casino activity is available in real time.
How blockchain protects casino visitors
Blockchain makes the entire gaming experience completely transparent and recorded in a public registry. All of this data is easy to verify and cannot be changed by the casino.
The main benefits of blockchain in casinos
Although blockchain technology is still unfamiliar to the general public, it has certain advantages in casinos. Among them, the following are worth highlighting:
- Shows the casino balance. All payments are made via a smart contract. It has its own address on the blockchain and players can always see the club balance as well as the payout history. All this information is publicly available and can be used to judge the reliability of the casino.
- Ensures fair play. Regulators initially check the fairness of casino games. They make a large number of bets and determine the payout percentage of each slot. In this case, cheating is completely eliminated. All bets made are recorded in a blockchain, and the veracity of the specified percentage of payout can be verified in person.
- No cheating of casino affiliates. Affiliates attract visitors to the casino and receive a percentage for this. Some clubs try to cheat affiliates with a percentage, but in case of blockchain this is excluded. After all, all statistics are recorded in a public registry and are easily verified.
How to choose a blockchain casino
Some online casinos simply start accepting cryptocurrency deposits and convince visitors that they are now operating on blockchain. However, this is not the case at all. It is important to know how to choose a blockchain casino.
Licensed by
All casinos can only conduct gambling activities if they have a license, which is issued by the regulator. Without it, no gambling establishment can function properly. A licence enables you to open a bank account, receive games from providers and, quite simply, run your own website.
Licence information can usually be found at the bottom of the club’s homepage. Establishments without a licence should beware. The regulator can block them at any time, and all customers will lose their money.
Security of personal data
A reliable casino does not allow underage visitors and those in whose countries gambling is prohibited. To ensure this, the institution asks players for personal information. All this information should be securely protected in the future. Therefore, it is necessary to make sure that the blockchain casino has an SSL certificate.
