Crypto casino games are evolving. Now there are even casinos in the metaverse. Things move fast in the field of online gambling. We will talk to you about this next time with more details.
The metaverse called Decentraland now hosts the Holy Temple casino. This land, at 42 plots, has one of the largest enclosures in the virtual world. Launched by a company called Metaskins, the casino hopes to become a destination for gaming, partying and entertainment. Games include metaverse lottery and many card games, including blackjack. There are also treasure hunts that allow players to earn tokens. It can be used in other games. Players can bet against each other or against the house.
To play, you need to buy native MANA tokens. Come in here.
This is not the only casino in the metaverse. In other iterations, you can not only bet, but you can also buy land inside some casinos. If a high-paying blackjack table is on your property, you get a share of the profits.
Cryptocurrency casino games are booming everywhere
An incredible range of online crypto casino games have emerged in recent years. Some of these are rugpull scams, where bettors hand over money and never see it again.
Some are legal, but, as always, the odds of winning are slim and often the player doesn’t take home their winnings.
But maybe it’s not all dangerous and scam-filled. New types of crypto casino games are coming to light. They use blockchain and Web3 to gain the trust of their audience.
Web3 Crypto Casino Games
The idea that anything related to cryptocurrencies will make betting more secure seems crazy. However, the development of the decentralized blockchain-based technology Web3 is promising.
The platforms were created to allow users to own their own data, rather than handing it over to companies. Blockchain allows this to be done in an open, trustless, decentralized and transparent environment. This will solve many problems on Web2 platforms.
Although gambling is completely legal in many places, people continue to put billions of dollars in unregulated offshore areas.
So players are easy targets for bad actors. However, these sites can disappear overnight, along with the players’ cryptocurrencies.
Blockchain bets
Carlos Liang is the CEO of Divvy.bet, a betting site that uses blockchain. According to Carlos Liang, “users of blockchain-based betting platforms do not need to worry about malicious individuals. Each transaction is managed by a smart contract, an immutable, self-contained program that operates under the terms agreed to by the user”.
According to Mr. Liang, instead of handing over the cryptocurrency to a third party, players only need to connect their own crypto wallet to the protocol. “By removing intermediaries in this way, we get a better and smoother user experience. No more transmission of private data, no more excessive withdrawal fees, no more worries about manipulation of spreads by sports betting companies”.
Platforms like Divvy.bet that use Web3 protocols give users full transparency about the betting pools they use. This allows players to manage their risk more effectively.
According to Liang, “You can see your bankroll, control it closely once the bets are settled, and know that there is enough money in the house to pay you. This is a huge improvement over traditional sports betting platforms, which are effectively a black box in terms of how your funds are used and how much liquidity is available”.
Other Blockchain Betting Sites
Another crypto blockchain betting site is Betswap.gg built on the Polygon blockchain. It is a decentralized peer-to-peer sports exchange, and uses a native token, $BSGG. The company says it has changed the traditional betting model to create a betting exchange where users bet with each other instead of against the platform.
“Participants can choose to be a punter or bookmaker, with Betswap.gg offering a transparent betting model with no hidden fees and minimal gas fees. Betswap.gg does not require the users go through a tedious onboarding process. All you have to do is connect your wallet, and within minutes you can start betting. Betswap.gg does not take custody of user funds at all which time, allowing players to place individual bets directly from their wallets and withdraw their winnings smoothly, safely and instantly.
Crypto casino games and influencers
With the rise of crypto casino gaming sites, influencers are being paid to play games and livestreaming for their audience. However, what you find buried deep in the rejection is that these influencers receive the money they bet, in addition to receiving huge payments for streaming content.
Max Maher runs a channel with almost a million subscribers. He said: “Many streamers regularly post warnings about the dangers of gambling. However, streamers are paid an absurd amount just to play on these sites. Streamers usually earn the money they play with – unlike other users who play with their own money. This of course encourages streamers to be more carefree in the game.
A Youtuber claimed anonymously on Maher’s site that he was paid a million per month to stream casino games. According to Maher, streamers gave in to the temptation and agreed to the contracts, even if they felt morally conflicted.
It is always up to the audience to make responsible decisions. However, these streams reach children, especially on platforms like Amazon-owned Twitch, which are full of children. This platform, however, has started cracking down on unauthorized gambling sites.
But if you like gambling and want to gamble online, there are millions of options available to you using a search engine.
Or you can simply trade cryptocurrencies in a bear market. This is a bet in itself.
Disclaimer
All information on our website is published in good faith and for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.