How Bitcoin is Revolutionising Online Gambling



We'll look at this in further detail in this article, and look ahead to a new model for virtual casinos in the future.

The Creation of Fair, Open and Transparent Gaming

Ethereum is the latest blockchain-powered technology to hit the marketplace, and one that has benefited from the trials and tribulations faced by Bitcoin during the last decade. As the result, this represents a trusted technology, and one that has a potentially significant application in the world of online gambling.

Ethereum is currently at the centre of plans to revolutionise online casino gameplay, in a way that decentralizes ownership of platforms and drives a more transparent proposition for players.

Firstly, Ethereum could well underpin an underlying DAO (Decentralized Autonomous Organisation) for online casinos, which would establish an autonomous and regulated entity that would be impervious to tampering. This is in process now, and it would instantly created a more transparent platform and an even playing field for both players and operators alike.

Beyond this, there is an even more exciting innovation involving Ethereum at play here. More specifically, this technology could potentially be deployed to remove the traditional house edge from online casino operators, creating a totally open and fair experience for players regardless of the game that they played. Concept casinos like EdgeLess.io are fully embracing this technology, establishing a 'zero' house edge that does away with arguably unfair house rules and any suspicions relating to the underlying coding of specific websites.

This would also refine mechanisms such as random number generators (RNGs), which create individual outcomes in games such as roulette, poker and blackjack. These have occasionally come under question as they are governed by operators and centralized authorities, which is at odds with the type of transparent experience that consumers crave in the digital age.

The Bottom Line – A Revolutionary New Casino Platform

Despite considerable improvements in regulations and online security, there's no doubt that online casinos remain part of a low-industry. The development of zero house edge casinos and transparent gambling experiences could well change this, revolutionising the space and fully unleashing its earning potential.

This technology will take time to apply, however, so for now regulators are looking to create greater transparency for online gamblers with a series of incremental measures. These include clarifying promotional offer and allowing players access to instant withdrawals at any given time, while also leveraging Bitcoin to create low-cost and ultimately convenient transactions across the board.
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