On Monday, we asked you what you thought is most important to the success of a crypto casino. Taking just one pick from ‘trustworthiness', ‘technology', ‘leadership team' and ‘marketing is a crude method with each being so interlinked. You could argue that you can't have trust without a strong management base, and how do people know about good tech if it's not marketed well. But we were still curious, and so went there anyway. And fortunately, there's a been a clear winner: ‘Trustworthiness', with 45% of the votes.
Trust by technology?
Trust, casinos and blockchain go hand-in-hand, although I'm sure many of our featured projects refer to their technology as the sometimes misunderstood label of ‘trustless'. We've seen a boom in crypto gambling projects because trust has been gradually eroded away in the fiat sector. Increasingly, online casinos are taking players for fools with slow payments, rigged odds and poor customer service. The house has lost the trust that it once had, and players aren't standing for it.
Fortunately, trust has now been returned to igaming with the emergence of blockchain technology, coupled with a new approach from projects who put trust and transparency as a priority when engaging with partners and their communities.
Projects such as FunFair Technologies have arguably been the loudest in championing this new desire for ‘trust', and it's paid off with the success of its CasinoFair brand. They've built a platform where every element of the casino experience must deliver a fair deal to the player, without compromise. Likewise, provably fair games that deliver trust through innate randomness have been huge hits at casinos such as TrueFlip and FortuneJack.
It ties in nicely that ‘technology' comes in a firm second in our poll with 28.8% of the vote. We have talked about trust from a tech and communications standpoint, and it's the former that sets blockchain casinos apart from their fiat counterparts. Anyone can talk a good game and open themselves up to interrogation, but only crypto casinos can open their game mechanics on the blockchain.
Private gaming server technology does not deliver trust, but open ledgers do. Players can now see that what they just bet on was as it should have been, not what the house said it to be. This is a major step forward in returning peace of mind to the average gambler across a number of betting verticals.
Last but not least
‘Leadership team' came in the bronze medal spot, well clear of ‘marketing' with almost double its votes. We've certainly seen some leadership teams sell projects to investors on the back of their names alone in other sectors of cryptocurrency commerce, but in gambling circles, most have let the tech do the talking. It would appear that our audience sees a strong management base as necessary, but perhaps they prefer the back office approach, as opposed to seeing a project as a CEO's plaything.
it did surprise us to some extent that marketing bottomed out in our poll, particularly seeing the success of WINk and other TRON casinos in recent months. Surely without a good marketing reach and no active users, crypto casinos are effectively worthless. But then again, the decentralised community has always had its own methods of marketing that tend to lean towards word of mouth and personal research. With advertising still heavily restricted for the crypto casino sector, this is potentially why it came in last.
The current demographic of crypto casino players have gone above and beyond in finding a next-gen casino, whereas the everyday player, the one that crypto casinos hope to reach when mass adoption comes, still hasn't been roped in. It would be interesting to see how this poll replays in a couple of years when marketing teams' hands are less tied and casino brands can penetrate a much larger audience in the mainstream.
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We'd like to thank those who voted in the poll this week. For those interested, we'll continue running a weekly poll every Monday, so follow us on Twitter and have your say about all things crypto casino.