Top Blockchain Gambling Projects
Why the blockchain
A lot has been said about the blockchain, but what’s all the hype around it?
It’s all about the blockchain ideals and how they fit the gambling industry: the anonymity of a public ledger, and the security for funds and the player identity. It’s all in the blockchain and nowhere else.
Instant payouts, higher winnings, and full transparency.
The decentralized nature of cryptocurrencies, combined with smart contracts have given this new blockchain gambling industry the possibility to offer fair and transparent services, something that has been near impossible to achieve with traditional online gambling sites.
The FunFair project aims the creation of efficient casino operators on the blockchain, using the FUN tokens as a currency for those casinos, cutting in this way costs for both players and operators.
Game developers also benefit from FunFair in the sense their games serve a wider audience, just any FunFair casino. The baseline for FunFair also aims to solve security issues over sending money on unsecure networks, as the Ethereum platform where FunFair is based guarantees secure, fast transactions and data protection.
The promise of FunFair is a fast start in the casino business to any operator and a solid player base, in a transparent gaming experience powered by smart contracts in a decentralized platform.
Edgeless is a casino on the blockchain that aims to address the issue of the house edge in the games, to level the gambling field. It has already a working product where the house edge has been eliminated, unlike most online casinos where it’s a value between 1 and 15%, depending on the type of game being played.
The edges disappear and the fees are reduced as well. A common feature to all gambling blockchain projects is transparency, which is easily seen by anyone that wishes to analyze the Ethereum smart contract where Edgeless runs.
The EDG token gives 0% edge to the operator, there are no bank fees or hidden charges and deposits and withdrawals are instant, so there’s no need to wait for days to collect our winnings.
MobileGo dedicates it’s activity to video gaming, offering (or promising to offer) three products: virtual content marketplace, peer to peer matches and e-sports mobile tournaments. The project has a company created in 2016 in Serbia called GameCredits.
The purchase of in-game items from other players in the blockchain (the marketplace) would eliminate scams and allow the transactions to happen in a safe place. Bypassing the Apple Store and Google Play would also reduce fees to values superior to 60%.
The peer to peer betting in matches is made possible with the MobileGo tokens, which also enable tournaments with prizes and rewards, and the inclusion of other industries like streaming or advertising.
Top Blockchain Gambling Projects – Part 2
On a previous article we have covered some of the main blockchain gambling projects: FunFair, Edgeless and MobileGo, but there are several others that might not be as developed, but that can have more potential and surpass these 3 in a near future. Let’s take a look at a few more projects.
CasinoCoin is a project that started in September 2017 with the aim to promote security and fairness in online gaming. The CasinoCoin Foundation has DraftKings and iGaming Ideas as advisors, so they are well backed up with expertise from the gambling industry.
CasinoCoin lives uses Ripple, a blockchain based technology, promising a transparent and secure experience to the consumers and operators using cryptocurrencies, but mostly to regulators, with the aim to solve slow transactions and complicated registration processes, replacing these by smart contracts.
Simply put, CasinoCoin is a currency, a money transferring system that reduces payment fees, a big incentive for any business or user, and that is also equipped with anti-money laundering technology, making online gambling safer.
Wagerr token presents itself as a sportsbook of the future. It’s supposed to reduce fees and work on any platform or mobile devices. But the main purpose with Wagerr is to solve the risk that those making sport bets take with bookie manipulation, identity issues or interferences in regulation.
The smart contracts from Wagerr solve the problems with bookkeepers and identity problems, but there another plus. The more one uses Wagerr, the token gets eliminated from the blockchain, which means the less supply drives the price and demand up, being a deflationary currency and increasing the value of those holding it.
Somewhat similarly to Wagerr, also UniKoin Gold operates as a cryptocurrency for the sports industry. Unikoin is a wagering system for e-sports that exists since 2014, even if only recently the blockchain was added to the project.
Tournament wagering and peer to peer betting is available through the smart contracts from Unikoin, which is a E-sportsbook that aims to increase these services that have little market representation.
There are several other gambling projects on the blockchain, like for example Peerplays, a concept specialized in blockchain betting and to eliminate the possibilities of the 51% attack to control the chain, by having a computational power that makes possible over 10.00 transactions per second.
NoLimitCoin is another project that tries to enter the market of Fantasy Sports, a huge and growing market these days. The project is divided into the cryptocurrency NLC2 and a betting interface: cryptofantasysports, and has the goal of conquering space in this centralized market.
Slow banking and verification processes, and an almost monopoly that Draftkings and Fanduel have on the market is something NoLimitCoin wants to address. Lower fees and fair play, meaning no computer generated teams, will make Fantasy Sports a fair and more accessible game again.
DecentBet, a profit sharing program, CoinPoker or Ethroll are other blockchain gambling projects, among many more, that promise to make a revolution in the online gambling scene, which is silently happening right in front of our eyes.
Top Blockchain Gambling Projects – Part 3
FunFair, Edgeless MobileGo, CasinoCoin, Wagerr, Unikoin Gold, Peerplays and NoLimitCoin were some online blockchain projects we have already commented previously, so this time we are taking a brief look on some other interesting projects that are being built or adopting the blockchain technology.
DecentBet is a platform where users are a part of a program to share profits on a quarterly basis. The project was created in 2017 and each shareholder will get an equal share of the profits. On the existing online gambling platforms profits just go to a few, and this is something DecentBet wants to do differently.
DBET generated an Ethereum model used both for gambling and profit sharing, where lower fees and auditable records are available, making it more transparent and fair.
CoinPoker is a new cryptocurrency exclusively for poker, aiming a more private and fair poker system, but also offering lower fees. The CHP (chips) cryptocurrency will enable the player to play poker games with anyone in the world, with the safety of Ethereum and its low fees and fast to instant deposits and withdrawals.
Wait, we might have left the best to the end, there are no country limitations, so just about anyone in the world with a connection to the internet can play, regardless from where they are located.
This is the cryptocurrency for those who love dice play and betting on the outcome. The success of this project might be on its simplicity as all it takes to play is to select odds and roll. The bets are made with DICE tokens and the payouts depend on the number or wins.
The house edge is just 1%, and the remaining profits generated by the platform is distributed by DICE token holders. Not having a sign-up process is also a plus, as well as the open source code, creating evidence for the history of bets and fairness of the game.
CHIPS is the Bitpoker token, a platform for cryptocurrency gambling with low fees and transaction times. CHIPS is based on Bitcoin and uses the Lightning Network to allow fast transactions.
With minimal fees and fast transaction times Bitpoker solves the biggest problems currently existing on most online casinos, and aims to attract Bitcoin casinos that wish a secure and fast transaction model.
Ethorse is betting out of the box, as it doesn’t cover online casino games, sportsbooks or E-sports. Ethorse is all about betting on the cryptocurrency price movements, it’s about betting on the right horse or crypto and win Ethereum while doing it, considering the right bet is made.
The HORSE token is transparent, and no one controls the payouts or the race. A fair algorithm and blockchain payments via Metamask get bookies and other costly elements out of the way.
Bithorse is definitely a new concept, but CoinPoker promises to bring a breath of fresh air into the online poker world. All in all, these projects bring something new to online gambling and promise to boost the industry to new heights.
Top Blockchain Gambling Projects – Part 4
There are many new blockchain gambling projects, which just shows the strength and the disruptive capacity this new technology has. Each new project sees gambling in a different way and tries to solve an existing problem or create a new need for the players.
Surely not all of them will succeed, but some of them might be the new stages for world class online gambling sites in a near future. Let’s take a look on a few more blockchain gambling projects.
BitDice is a project in the Bitcoin blockchain and has the ambitious goal to be a hub for cryptocurrency gambling. It was established in 2014, and the several cryptocurrencies accepted, instant payouts and a good amount of games make it an appealing destination for the online gamblers.
BitDice is not just about crypto payments and entertainment, but also security, having an address lock function, email authorization and 2-factor authentication, among other tools. At the moment Bitcoin, Litecoin, Ethereum and Dogecoin are accepted, but fiat payments will also be accepted soon.
BitDice still adds to this mix rewards and bonuses, something fairly common at the regular online casino, but not on the blockchain casinos. So, anyone playing here can expect coin-back and level-up reward to keep everything more interesting.
TFL is a token that exists in the Ethereum blockchain, and it’s a blockchain lottery system available worldwide. The rewards are distributed equally among the winners, based on how many entries they have.
“The Biggest Jackpot on the Planet” is given out daily. Ticket sales end at 19:00 and the draw happens at 20:00 UTC. Being on a public ledger makes this process transparent and impossible to be rigged, like happens with many lotteries.
A lottery where is no need to identify winners, no geographical restrictions and no taxes reflects perfectly the new online gambling paradigm on the blockchain.
DAO Casino is another project on Ethereum and uses the BET coin. The goal of DAO casino is to become the main cryptocurrency for casinos on the internet, so it has an ambitious goal. The project just started in 2017 and aims to tackle payment failures, account seizure and high fees.
By simply using the blockchain all those problems are gone reducing the risk to zero. Foul play is also a concept that doesn’t exist, as random number generators make the games provably fair, something that can be verified on the network data.
Breakout is project that has its own blockchain and the company it’s based in Costa Rica. The Breakout Chain is a global transaction system with very low fees. The Breakout Coin (BRK) is the main currency, but they also have the BRX and the SIS tokens.
Each of the three tokens has a different purpose and solution for the gambling industry. BRK is the payment method that not only is fast and with low fees, but also anonymous, while BRX refers to the proof-of-stake and SIS to the proof-of-work, being therefore an hybrid coin that adds security to gambling sites.
We presented today another four projects that add value to the online gambling industry, providing more security and transparency as well as innovative features to the industry. A lot to wait for in the near term online gambling future.
Top Blockchain Gambling Projects – Part 5
We have given an overview of quite a few gambling blockchain projects, and quite a few more are still to be seen. Some are directly related to online gambling in a more traditional fashion, while others are completely disruptive in the way they approach the gambling activity.
Let’s take a look at some of these projects.
The vSlice token was launched in 2016 as an online gambling currency on Ethereum, using smart contracts that provide speed and security to their users. The goal of vSlice, which works together with vDice, it to give stability to the many times overloaded servers from high volume casinos.
The vDice technology can handle thousands of transactions per second, which means more uptime and more reliable sites. vDice is also a place where developers can host their dApps, being a reliable location for developers to showcase their apps to the public.
Monster Byte Inc
Monster Byte is a project in the Bitcoin blockchain and had a ICO with a worth of 1 million dollars. Monster Byte Inc is proprietor of several gaming sites which use MBI, the token of the project, as currency.
Slots, Poker and Blackjack are some of the games available at those online casinos, but Monster Byte wants to expand to sports betting and other casino gaming. Apart from expanding their gambling offer, solving issues like credit card fraud is also a priority, and implementing a cryptocurrency certainly addresses that.
Cryptocurrencies not only verifies all payments, but also eliminate the fees from credit card companies, not to mention security issues, long withdrawal times and dubious gaming practices that some sites have.
It’s reassuring to know that deposits and withdrawals take as long as blockchain confirmation, which usually is just some minutes, and no kind of identification is required. All of the stated above can be verified by anyone in the open source code.
Apart from all the blockchain gambling projects we have covered there are many still left to analyze. Billionaire Token (XBL) is an investment project that features games like Billionaire Hold’em, Cee-lo DICE without a bank and Billionaire Raffle & Burner. The layout of the page is appealing and definitely invites for a go.
Ethbet is another site where it’s possible to gamble, in this particular case a provably fair dice game where the house has no edge, and everything happens on the Ethereum blockchain. The site has a sober presentation, it’s still a beta version, and the native token is EBET. Metamask is necessary to play.
Roulette Token allows the European Roulette fans to play the game, which uses a transparent code and it’s based on smart contracts.
What is important to retain from all the projects we have reviewed is that the fun and the entertainment are still are there, even a good level of innovation maybe, but what’s disruptive about online blockchain gambling is the speed of transaction, the lack of fees, instant payouts, and the transparency of the code.
These are the reasons that will elevate blockchain gambling above the existing online model that offers limited protection and fairness.