If you've arrived at blackjack pal, you're probably a fan of Blackjack. What's not to like? According to a abc news 5 article , experts say Blackjack gives you the best odds of winning of any casino game. Although this is probably the case too for online blackjack, a lot of people simple don't trust the websites that offer it! Things like game cheating and credit card fraud are a few examples of player concerns.
In recent years a few solutions have been created to solve this player trust problem. In 2017, live-dealer Blackjack became widespread among the online casinos. Here a real dealer is physically recorded while you play the game. You see them shuffle, take your virtual bets and deal your cards. In theory, this should create the same level of game transparency as a brick and mortar casino.
There's also in recent years, been another revolutionary solution to the player trust problem. Decentralized casinos and cryptocurrencies like Bitcoin. If you need an in depth introduction to blockchain and cryptocurrency, check out our previous article . Let's now take a look closer at this new form of payment.
The first cryptocurrency Bitcoin was introduced to the world in a 2008 whitepaper and was inspired by the global financial crisis of that year. It is a peer-to-peer version of electronic cash that doesn't require a third party banking system to implement it.
All internet financial transaction before Bitcoin relied almost exclusively on third party corporations to handle payments. This is the same problem that conventional online casinos have. This third party approach is adequate in most situations but has the weakness of being trust based. A credit card transaction is reversible, so an online casino has to collect information you players in case of fraud. The player now has to trust the online casino with their credit card details and personal identity. Online casinos have a lot of security vulnerabilities to worry about. The larger more reputable sites would be some of the most protected on the internet. The smaller ones have the same risks but lower budgets for handling them. Here’s a few things they need to do:
They need to ensure player funds are secure.
They need to ensure their game software and servers aren’t compromised. For example, attackers could change the random number generators on games to influence results.
They need to catch players cheating. For example, card counters or automated poker bots.
They need to protect their players data. Competitors want to know who’s playing on other sites, so they can acquire them. Some sites need to verify identity and age of players for government regulation and this also needs to be protected.
They have to protect themselves against the usual cyber attacks like denial of service etc.
Can you be sure that an online casino has not cut corners somewhere and is vulnerable? Bitcoin and decentralized casinos offer a technological solution for players looking for freedom and greater privacy. You can eliminate the need of a traditional online casino to use your credit card to process deposits and withdrawals, thus creating a paper trail that's easily monitored and tracked. You can also eliminate the need for traditional casinos to store your identity data.
One of the great benefits of Bitcoins is the ability to place bets from every corner of the globe. This is especially convenient when accessing casinos from countries that place restrictions on gambling. Bitcoin enables clients to have full access to their accounts for withdrawals from anywhere in the world.
Like we mentioned previously, casinos that accept Bitcoin also eliminate the need for the casino to have access to your credit or debit card information. Thus there's no need to fill out online forms or provide personal details that could be shared or sold to unknown parties outside of the casino.
Another significant benefit of depositing with bitcoin is the fact that there are few if any fees involved. You won't have to worry about the expensive deposit or withdrawal costs that you'd typically encounter at a traditional casino. This is due to the fact that Bitcoin casinos don't have to utilize payment services or banking institutions, thus keeping every transaction as cheap as possible.
If you're interested in learning more about bitcoin transacting casinos, check out our Bitcoin Blackjack page .
One of the drawbacks of traditional casinos is the fact that they conceal information from players. This includes your potential winnings.
Because of this, they've developed a reputation for using tricks for giving the house an added advantage over the gamblers. This is obviously unethical and unscrupulous.
Decentralized casinos, on the other hand, have eliminated the possibility of these shady tricks by providing total transparency. All bets are actually recorded on an online blockchain, so players can go back and verify the casino hasn't been cheating them. This results in legit odds and the eradication of any potential scams.
Remember just because a casino accepts cryptocurrency, doesn't mean it is decentralized. Some just use it as method to accept payments. If this is the case, you still need to research the website to make sure it has a good reputation with players.
Also, not all decentralized casinos are safe. The first known decentralized gambling game Satoshi Dice, has received a number of player accusations of shady activity. We list a few decentralized sites on our TRON Blackjack and EOS Blackjack pages but always do you due diligence before signing up.
The freedom to gamble anywhere in the world anonymously is an amazing benefit of the new decentralized technology. As you can see, they provide a more secure environment for your money without interfering with our ability to have a great time. Also, decentralized gambling sites take transparency to the next level. There's no more need to trust the site if it's verifiable through a blockchain. Good luck at the blackjack tables!