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Best provably fair decentralized casinos

Centralised casinos are by and far the most popular form of gambling entertainment across the globe, with easy access across a booming mobile sector and thousands of brands available to suit each player’s needs.

However, in recent years, there has been a major shift in opinion towards these once reputable casinos, with players losing trust in the way they are run, the way they treat their users and the fairness of the games on-site.

With the ascendancy of blockchain technology, a viable alternative to the traditional online casino has come to the fore: decentralised, provably fair casinos.

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Best provably fair decentralized casinos

Centralised casinos are by and far the most popular form of gambling entertainment across the globe, with easy access across a booming mobile sector and thousands of brands available to suit each player’s needs.

However, in recent years, there has been a major shift in opinion towards these once reputable casinos, with players losing trust in the way they are run, the way they treat their users and the fairness of the games on-site.

With the ascendancy of blockchain technology, a viable alternative to the traditional online casino has come to the fore: decentralised, provably fair casinos.

This term is a broad one, with decentralised casinos each having their own specific benefits but across the board, they tend to stand for independence, fairness, and player power.

Many new brands, such as CasinoFair, EOSBet and WINk.org, have gone live in the last couple of years, all looking to target a new breed of player; the early adopters in the blockchain community, and those who have lost faith in the traditional gaming environment due to a lack of transparency and ongoing questions about their integrity.

Why play at decentralised casinos?

Provable fairness

Arguably the key element that crosses all decentralised casinos is that of provable fairness. Traditional casinos have used this term for some time, generally incorrectly. What they claim is that when you play one of their casino games, whether it be roulette or a video slot, the gaming events you witness are correct. This, they argue, is provable because they are regulated, audited and have secure, cheatproof servers.

This doesn’t quite stack up on scrutiny. The major flaw in this is that all gaming events that happen between the player and a house occur in the house-owned server, which is private and opaque. The player must trust what the casino is offering and accept that if they lose or win, that was random. However, there have been too many occurrences of bad actor casinos in recent years who manipulate this backend in their favour, altering advertised payouts, tweaking results or operating exit scams.

Even regulated, audited casinos have been prone to this, and yes, the majority of igaming operations are acting appropriately, but can you be sure that yours is?

What decentralised casinos offer is a blockchain-based solution to this. When gaming with these, players witness true provable fairness that goes well beyond what traditional casinos offer. Provable fairness is integrated into the very core of the product with transparency at every step of the way.

Decentralised casinos operate on a visible blockchain, ensuring every gaming action, including stake size, payout and game code, is available to the player to check. The nature of these blockchains, such as Tron and Ethereum, have such wide user bases and consensus protocols that no one actor can cheat the system, meaning you, the player has the peace of mind to gamble fairly and with enjoyment.

Brands such as CasinoFair and CryptoCasino deliver this throughout their platform with what they call Guaranteed Fair technology. With every spin of the wheel or roll of a dice, players are prompted to check what they’ve just seen is just as it should have been in-game. There is no need to trust a casino’s licence or strength of brand, instead players can see for themselves, on a publicly transparent, consensus-run blockchain, that what they see is what they get.

Guaranteed payouts

Another gripe that continues to tarnish centralised casinos is their inability to pay out quickly and accurately.

If you were to win at a land-based casino, the house would immediately return your cash over the table. Online, however, these same brands often struggle to return player funds within a couple of days and even then, wins can be disputed by the house. Many casinos have also been found to lack sufficient funds to payout potential wins and large jackpots, a seemingly fundamental requirement of a functional, fair casino.

How decentralised casinos solve this issue is firstly, by using cryptocurrency as its gambling token. Whether this is TRX, ETH, EOS or proprietary casino tokens such as FUN, using crypto as a gambling chip bypasses much of the transaction cost and lag that comes with centralised payment solutions, which require third party involvement and the costs associated.

Decentralised casino transactions tend to be played directly between the player’s crypto wallet and the house, rather than providing the house with direct custody of funds through deposits and the like. This prevents exit scams, delayed payments and means that at the end of a bet or gaming session – whether you win or lose – your funds will be returned instantly by a blockchain transaction.

CasinoFair goes one step further and uses state channel technology to escrow the player and house funds during a gaming event, ensuring the house can cover all potential winnings. This may sound fundamental, but too often it is ignored by today’s igaming operations.

New gaming experiences

As well as the fairness that decentralised casinos deliver, the casino experience itself also has many benefits over more traditional offerings. Blockchain adopters tend to be of a more youthful demographic and don’t correlate directly with the average global casino player. That’s why many decentralised brands build their values around these millennial demands and tend to involve a more social, progressive offering.

Casinos such as WINk.org champion community engagement to give the usual gaming experience an extra layer. Being able to discuss recent wins, losses and runs of form, live, with other online players ensures every bet feels that little bit more important and special, and we’re starting to see many other casinos include similar tools.

Likewise, decentralised casinos disproportionately offer gamification tools such as player ranks, unlocks and bankroll bonuses through greater wagering. The bragging rights that come with these fit with the social element that the new blockchain player enjoys and differentiates significantly from the solo experience found on traditional sites.

Future gaming classics

The likes of roulette, blackjack and slots still play the same as they would elsewhere, albeit with the added benefit of fairness and secure payments, but decentralised casinos are also leading the way in producing their own in-house games, many of which are first of their kinds.

All or nothing ‘To the Moon’ titles, where players hold their nerve in the hunt for massive wins have become popular across a number of casinos. Dice games based on the higher-lower concept are fairly common and other wheel of fortune-inspired titles have also become widespread at decentralised casinos.

Instant game outcomes seem to be the common denominator across these titles, with players looking for fast, exciting bet options, and having tried many different versions ourselves, they certainly deliver the thrills that casino players tend to look for.

What blockchain do they use?

Decentralised casinos aren’t specific to an individual blockchain. Instead, different casinos have looked to specific blockchain’s strengths to suit their own operations.

TRON casinos such as WINk and TronVegas have used that blockchain to provide the real-time, instant gaming experience that they believe is most important, whereas the likes of CasinoFair and Edgeless look to Ethereum to deliver greater security and smart-contract functionality. EOS is also an incredibly popular platform for blockchain gaming, and numerous brands such as Dice and EOSBet have seen success of late.

Other blockchains are also suitable to decentralised casino gaming, and some casinos have either forked off existing blockchains or developed their own to suit their specific requirements.

Decentralised casino bonuses

As with any quality casino, decentralised casinos also offer generous bonuses and sign up offers. These can be free crypto on registration, leaderboard competitions, turnover bonuses and various jackpot pools. Unique to crypto and decentralised casinos is also the ability to mine while gaming, as casinos such as WINk offer with its proprietary crypto WIN.

Is it safe and legal to gamble with decentralised casinos?

The majority of these casinos have terms and conditions which prohibit gaming to those under certain ages and in those territories where gambling is banned, while more progressive brands have looked to take decentralised gaming to the mainstream by seeking out gambling licences from reputable regulators.

Many leading casinos in the sector will have Curacao licences and this is generally regarded as a solid foundation for a trustworthy casino with integrity and a transparent team behind it.

It should be noted that many regulators are yet to catch up with this kind of gambling and therefore, have not legislated for it just yet, but tier one licensers such as the Malta Gaming Association and the Isle of Man GSC have made significant strides in doing so.

How popular are they?

Very popular rapidly growing. The top three TRON gambling dapps have turned over more than the equivalent of $50m in the last seven days alone, at time of writing, and the top five ETH dapps have seen more than 60,000 transactions over the same period. It’s clear there is a demand for provably fair gaming on the blockchain and as these casinos continue to improve their offerings and disillusionment continues with traditional casinos, this fast-paced growth looks set to continue.

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WHAT IS BITCOIN?

Bitcoin (₿) is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries. Read more here.

IS IT LEGAL?

Because of bitcoin's decentralized nature and its trading on online exchanges located in many countries, regulation of bitcoin has been difficult. The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. Regulations and bans that apply to bitcoin probably extend to similar cryptocurrency systems. Read more here.

IS IT SAFE?

Bitcoin uses the digital signature concept along with Elliptic Curve Digital Signature Algorithm based on blockchain technology which is used to verify the transactions using digital signatures. Each investor or trader in the Bitcoin network has one or more search addresses with a respective pair of a public and private key based on their wallets. No transaction is ever deleted and will ever be deleted. Some things you need to know.

HOW DO I GET IT?

Free bitcoin wallets are available for all major operating systems and devices to serve a variety of your needs. For example, you can install an app on your mobile device for everyday use or you can have a wallet only for online payments on your computer. In any case, choosing a wallet is easy and can be done in minutes. Further reading.
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