@ks.shilovKirill

Blockchain enthusiast developer and writer. My telegram: ksshilov

Gambling has always been a polarizing topic, and online gambling has only made opinions flare even stronger on both sides of the fence. One side fears that websites are not being entirely honest and could be cheating customers, while the other side believes that the convenience of online gambling may cause those who are borderline addicts to tip into a downward spiral of debt.

The beauty of this situation is that both sides (and many more) will find comfort in the techniques being implemented in the online gambling world thanks to blockchain technology. Through the utilization of decentralized, blockchain-based technology, the gambling industry will be able to transform into a fair, transparent, and safe environment for all.

From fancy casinos to spending a night with friends playing cards, onlineslot machines, and everything between, gambling finds its way into ourlives. Humans have been gambling for thousands of years and they show no signs of stopping anytime soon.

Yet even with this clear interest in gambling, there are still many people who find the entire practice despicable.

Gambling has a bad reputation, and youll often hear people say the house always wins. This statement is referring to two different ideas: the first being that the house always has the best odds of winning, and second, that anyone who gambles risks far more than the establishment they bet against.

Blockchain technology is very new and exciting. Although it feels like it could be a possible cure-all for the iGaming industry, will it be able to provide games with the same ease and entertainment that the current online websites do? There is a certain merit to using cryptocurrencies for an online gambling website, but after the initial awe wears off manyusers may want to revert to traditional gambling websites. But even in the event that this scenario comes to pass, there are still several reasons why the iGaming industry should work hard to keep itself decentralized:

Blockchain technology isnt magic, of course, and it cant automatically fix the iGaming industry. But what it can do instead is create a healthy ecosystem of decentralized nodes that support specific online gambling websites, prevent the need for sensitive customer information through the use of smart contracts, allow for greater profits since the house will more often have the same odds as the players, and make money through various means instead of strictly through players losing. This change in mentality throughout the industry has the potential to lead toseveral positive changes, particularly the change of total transparency; the rules, how much information is being collected (and for what), and exactly what the winning numbers/cards/slot chances are.

But are all of these changes positive? At first glance, there appears to bea few negative outcomes in regards to blockchain implementation, like forcing users to learn how to use cryptocurrency wallets and deal in cryptocurrency. The games themselves may be altered if they are run through smart contracts since the third party element will be removed, but even with the small shifts in the way the underlying architecture ofthe games function, the enjoyment will remain the same. Think of it more in the sense of playing cards with your friends instead of playing cards at a casino. In some cases the level of excitement and enjoyment may grow alongside larger jackpots, faster payouts, and an all around more transparent gambling experience.

Decentralized iGaming platforms will certainly be a great option for gamblers seeking to experience blockchain-based alternatives for a number of reasons. Gambling on a decentralized platform is far safer foruser data since customers dont have to send in their credit card information, personal address, or other sensitive data. Specifically, Luckchemy will also offer far larger percentages of jackpots than modernlotteries, and with everything being traced through smart contracts andblockchains, customers can rest assured knowing that they are being given fair odds in their gambling endeavors.

Blockchain enthusiast developer and writer. My telegram: ksshilov

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Can Crypto Technology Expand Interest in the Real Money Gambling Industry? - hackernoon.com