The Role of Blockchain Technology in Ensuring Fair Play at Online Casinos

In the case of internet gaming, transparency is a prerequisite to ensure fair play between players. Blockchain enables players to verify the outcomes of games and the accuracy of transactions; distrust between players is replaced by trust between all the casino’s users.

And all that data is stored on secured records on blockchain platforms, which makes not only betting but also compliance with anti-money laundering and anti-money laundering checks (AML/KYC) more easily managed, alongside making it easier for gambling players to get access from anywhere in the world.

Provably fair gambling

However, one of the most innovative features of blockchain technology is provably fair games whereby the players can make sure that the results in casino games such as dice rolls and wheel spins are really random and fair. The provably fair process uses the server seed and the client seed, and then a random number is generated depending on these two seeds, which translates into the outcome of the game, be it a dice roll or a wheel spin. The users can try to check if they have been cheated or not since they know the client and server seeds, which determine the results.

Moreover, virtually no one can manipulate the data via Blockchain ledger as every transaction that took place is being recorded and the results of a casino game are visible to every player like a computerised lottery machine. Therefore, it builds customer confidence and helps attract a loyal group of players.

Many of its games are provably fair, backed by blockchain technology, and BGaming is considered a leading provider of provably fair casino games. It includes a huge games catalogue, enabling linkage to rewards programs, and encourages loyalty by often analysing feedback. Novel titles are regularly created, and its customer support helps players understand how to connect to wallets and check game outcomes.

Bonuses

As the world’s newest and most secure database, blockchain technology ensures that casinos operating on the blockchain cannot swindle players, cheat them, or scam them of their money. The underlying concept is that this immutable ledger makes it virtually impossible for casinos to tamper with the data in real time or change previous transactions, essentially making the system incorruptible. This enforces the transparency and fairness of the game for each and every player. Furthermore, it eliminates certain problems that players might face by giving them pseudonymous wallet addresses and protecting their personal information and funds from hackers who steal accounts and passwords.

In particular, the distributed nature of blockchain technology eliminates the proverbial single point of failure – a hacker would need to control most of the nodes on the blockchain to manipulate game results, or steal users’ data, thus players could no longer be cheated or fleeced by third-party agencies, and they could trust each other more easily.

Playing on a blockchain-based platform means that these players can verify the fairness of games through cryptographic algorithms, and access information about the game’s fairness that has never before been available to them – without relying on the discretion of a third party such as a casino. Cryptocurrency also enables players to send winnings to each other with a degree of privacy and security unattainable with cash or credit cards.

Payment options

As much as we’d love to be treated as gods at online casinos, blockchain technology ensures that we’re mere mortals. Still, for players there are plenty of advantages to using blockchain technology. It guarantees a safer, faster, and more transparent gaming experience, and it reduces costs for both the casino and players while making compliance and regulation faster and less costly.

Blockchain transactions are encrypted and linked to each other in a block pattern, making it far more difficult for hackers to infiltrate than a consumer identity system that is often based on pin numbers. They are also quicker, as fees and delays characteristic of traditional banking arrangements can be reduced.

Thanks to the technology known as provably fair, players on online casinos can check at any time the result of every game using a cryptograhic algorithm, so neither the operator nor the player is able to manipulate it, something which drastically improves the level of transparency with respect to traditional casinos, and cuts down the risk of player-house disputes. Secure payments eliminate the need for third-party intermediaries, speed up transactions, and save on costs; coupled with the borderless nature of the internet, they allow players anywhere in the world to move their money freely, without being charged currency exchange rates, or even cut off by their government.

Security

The incorruptible ledger of blockchain technology reduces corruption for online casinos, and provides a guarantee of secure transactions for customers. These cryptographic hashes also allow any player to verify that the games and transactions are fair. But again, blockchain uses up ward-breaking amounts of energy for its operations – a terrible waste for green concerns.

This trust has to be earned, which is one of the reasons why online gambling has always suffered from a problem of fraud. This is where blockchain comes in, as making the records of bets immutable prevents people from tampering with the data. This means that the results are not merely accurate – they are undeniable. When we factor in that the information is encoded and stored across a network, rather than in a single server, it also offers greater protection from identity theft.

The blockchain technology allows cross-platform play and cross-game playability of tokens and non-fungible tokens (NFTs), as well as the ability to create digital assets that can be sold or traded. (Integrating blockchain into existing systems should also be considered.) It will need careful thought by developers creating products that offer in-play purchases, integration with wallets and private keys and paying for gas. The UX should be easy.