While creating casino projects, operators come across the question of whether it is worthy to start a decentralized gambling app. Slotegrator presents the list of the main advantages and drawbacks of gambling DApps for both players and operators.
Gambling DApps for Players
- Anonymity. When players want to join a decentralized gambling app, they don’t have to register and provide their personal information, including the name, email address, and bank account. In DApps, gamblers play using the unique address of their crypto wallets, that are not connected with their identity, so it is impossible to trace the wallet’s owner.
- Fast transactions. Cryptocurrency transactions don’t have to be processed by third parties such as financial institutions and banks, as they are made directly to gambling platforms. No third parties involvement significantly reduces the time required for the transaction to be completed. More than that, the transaction fees are lower than in traditional casinos as well.
- Transparency and fairness. One of the main benefits of decentralization is transparency, as all the information can be accessed by any network participant. It means that players can always check all data about game rules and payouts, as well as make sure that the casino works entirely fair.
- High volatility. The most significant disadvantage that may prevent some players from gambling in blockchain casinos is the volatility of cryptocurrencies that make them unstable. As the cost of cryptocurrencies is fluctuating, it is possible that the price of winnings drops and players are left with the amount much less than they expected.
Gambling DApps for Operators
- New loyalty program. In gambling DApps, there is a possibility to distribute tokens among players. The mechanism can differ depending on operators’ wishes. For instance, they can distribute tokens to players for gambling on the platform or for depositing a certain amount of money. Then, these tokens can be withdrawn to crypto wallets or be used within a platform to unlock some features. Such wealth distribution will attract new gamblers to the platform and keep the existing ones interested.
- Wider audience. Operators of decentralized gambling platforms get a possibility to attract players from countries where gambling is not fully permitted. For instance, some countries don’t really prohibit gambling but still don’t allow financial institutions to proceed transactions to gambling sites. Therefore, citizens of these countries can’t make deposits and gamble. In this case, they can use cryptocurrencies that are sent directly to blockchain gambling platforms.
- New gamblers. Apart from expanding the operation to more countries, gambling DApps have all chances to attract new types of players that favor blockchain technology and cryptography. Blockchain and crypto enthusiasts support the decentralized technology and often try to be engaged in any kind of activities that involve blockchain. This way, gambling DApps operators may attract users who have no previous experience in gambling but who love blockchain and innovative technologies.
- Fewer games. As blockchain technology is still developing, gambling DApps keep improving as well. However, at this point, not every online casino game developer supports the decentralized technology and can provide its games to the blockchain-based casino. Therefore, decentralized casinos usually offer fewer slots and games than traditional gambling platforms.
- Old school gamblers. It is important to remember that there are still old school players not familiar with decentralized technology much and willing to only make deposits in fiat money. Therefore, these types of players are unlikely to join the decentralized casino and will probably stick to classics and traditional platforms.
Having a closer look at gambling DApps, we can see that decentralized casinos provide more advantages than drawbacks and have the potential to solve the main casino industry problems and improve the sphere.