Decentralized apps are able to fulfill all sorts of functions and serve many purposes, just like traditional software.
One popular example is gambling, with dApps popping up all over the place to offer games of chance to willing crypto converts.
So how do gambling dApps differ from standard casino applications, and what are the benefits of using them? Come with us as we journey into this brave new world of betting.
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The selling points of blockchain-based gambling
The main thing which sets casinos that accept Ethereum apart from their mainstream counterparts is that they use the blockchain to underpin every aspect of how they function.
That means not only are deposits and withdrawals processed using cryptocurrencies, but the games themselves are based on this very same tech. So as well as placing wagers and receiving payouts in crypto assets, you can enjoy a raft of other advantages as a customer as well.
A good example of this is the transparency with which the games operate. Outcomes are recorded to the blockchain, so you can easily go back and review what happened to satisfy yourself that it was fair. This might even be a factor that’s relevant from a casino security point of view, since player manipulation is preventable.
There’s also the convenience of being able to quickly add or remove funds from your blockchain casino account, without needing to wait for payments to be processed by centralized infrastructures, or worrying about paying extra fees for the privilege of accessing your own assets.
Better still, certain gambling apps in this space even reward loyal players with crypto, so long as they keep their account active and show an interest in the community. So if you were worried about missing out on perks and bonuses, don’t worry, they’re present and correct in this category of casino as well!
Lastly, there’s the way in which gambling dApps are weighted in terms of odds. The house edge is kept as narrow as possible, meaning players receive more generous payouts, since the blockchain casinos aren’t having to deal with the same sky-high overheads as their old-school competitors.
The experiences available
Where there is a lot more overlap between gambling dApps and traditional casino sites is in terms of the games you can play and the wagers you can place. From table games to slots, and on to sports betting and beyond, fans of gambling will feel right at home here.
There are also unique trends in this space, such as dice games, which are not exactly new, but have nevertheless achieved a certain high status in gambling dApps that isn’t seen elsewhere. It should be no surprise that millions of people have already jumped onboard the decentralized gambling bandwagon because of all of these reasons.
Additional considerations for players to keep in mind
If you’re wondering about the anonymity of gambling dApps, this is definitely achievable with a certain selection of services that are up and running at the moment.
While you’d normally expect to create an account and add payment card details to an online casino, blockchain-based apps can simply accept transactions from your chosen crypto wallet, and pay any winnings directly back out to the original address.
This is not universally the case, and there are some positives to playing with sites that let you have a specific account. However, for those who want to bet in complete privacy, it’s a no-brainer.
Pick out a reputable and popular gambling dApp, select a game to play and you can get into the action very quickly.
You should still be aware of the risks associated with placing bets, and have a budget to avoid getting into financial dire straits. With a responsible head on your shoulders, this is a fun and fair form of entertainment.