Bitcoin Slot Games: The Future of Gambling?
Bitcoin is a digital currency that was first introduced in 2009 as open-source software. Since then it has taken off and become more popular as people realize its benefits and potential. People now use it to buy things internationally bypassing exchange rates and transaction fees, but can we use it for casino games?
It is an interesting concept that could revolutionize gambling as we know it. With the security of the blockchain software as well as lower transaction fees than those offered by credit card casinos, it could be a viable alternative.
The Concept of Crypto Casino Explained
So with these basics decided, let’s talk about what this would look like in practice. There are some provisos that need to be accepted before we go into any detail on the games themselves:
- The casino cannot deal itself a winning hand; instead it must just provide the platform for individuals to play with one another. And if you’re searching for a decent and trustworthy site with lots of crypto games and betting options, I bet Casino N1 will be the best place to push your luck.
- The casino cannot have a house edge that favors the player or the dealer. This is not sustainable without an ability to cheat or with unfair rules, which do not respect the blockchain software behind all of this.
- The games cannot be rigged in any way, players must have faith that they are playing on an even platform.
- Properties of the games are fixed, you cannot choose your own cards or dice to make it more interesting.
- The interface that these games would have depends on how they are played. If done in person then there needs to be some kind of software where the player can choose their options and send them over for verification before playing. If done via a website or mobile device then a simple pick and click interface would suffice, the software conveying the results.
Bitcoin Slot Games: What Makes Them Special?
Bitcoin slot machines are much like traditional slot machine games, except bitcoin slots are played with bitcoin. As more bitcoin casinos turn to crypto payment methods, bitcoin slot machine games will become more common as it is the preferred method of crypto gambling. The only requirement for bitcoin slots players is a crypto wallet where they can deposit their crypto assets and play games. Because bitcoin is a decentralized currency, there are no boundaries to bitcoin gambling.
The bitcoin protocol provides a cryptographic hash for every bitcoin transaction that is irreversible and anonymous. Bitcoin offers the potential for any computer literate person to be their own bank as well as have complete control of their transactions. It makes bitcoin a great currency for slot machine games.
Crypto slot games are growing in popularity. More and more bitcoin casinos are turning to bitcoin payment methods as a way of increasing bitcoin transactions and furthering the ease with which bitcoin can be used for gambling at an online casino. There are bitcoin slot machines, bitcoin video poker games, bitcoin roulette, bitcoin blackjack, and bitcoin baccarat. Bitcoin slot machines are very similar to traditional slot machine games; the only difference is bitcoin slots are played with crypto rather than fiat currency (i.e., dollars or pounds). As more bitcoin casinos turn to bitcoin payment methods, slot machine games will become even more common, as bitcoin is the preferred method of crypto gambling.
In order to play bitcoin slots, the player only needs a crypto wallet in which they can deposit coins and begin playing. The ease of bitcoin slots lies in the fact that there are no boundaries to crypto gambling.
The Most Popular Bitcoin Games
So here are our proposed games:
The standard poker rooms would not be able to offer their usual services because of point 2 above. So instead we could look at other forms of poker such as Egyptian or Three Card. These are all games of chance, but there is no house edge offered to the casino. This means that it would be impossible for them to make a profit out of this form of the game.
Again, because of point 2 this game cannot be player vs dealer. There needs to be at least one other player in most cases. There would be no house edge offered so the casino cannot profit from it.
This is a game of pure chance, so it is easy to implement on the blockchain without any unfair advantage being provided to the player or the dealer. Players would pick their bets and they would be locked into the transaction once they have submitted the final result.
It is easy to implement in this manner and there are no unfair advantages that could be exploited by anybody. As with other casino games, this one would require at least one other player in order for the game to take place.
Bitcoin slots are the future of gambling. More and more bitcoin casinos are turning to bitcoin slot games as a way to increase bitcoin transactions and further the ease with which bitcoin can be used for online casino gaming.
So what do you think? Could this be the future of gambling? Or are there too many obstacles to overcome for this type of thing to ever work realistically?