Crypto casino games are booming. Now there are even casinos in the metaverse. Things move fast in online gambling. We will talk to you about that next with more details.
The metaverse called Decentraland now hosts the Holy Temple casino. This property, on 42 plots, will have one of the largest enclosures in the virtual world. Launched by a company called Metaskins, the casino hopes to be a destination for gaming, parties and entertainment. Games include a metaverse lottery and several card games, including blackjack. There will also be treasure hunts that allow players to earn tokens. These can then be used for other games. Players can bet against each other or against the house.
To play, you need to buy the original MANA token. Enter here.
It’s not the only casino in the metaverse. In other iterations, not only can you bet, but you can also buy land inside certain casinos. If a high-paying blackjack table is on your lot, you get a share of the profits.
Cryptocurrency casino games are booming everywhere
An amazing variety of online crypto casino games have emerged in recent years. Some of them are rugpull scams where players hand over money and never see it again.
Others are legal, but as always the odds of winning are slim and usually the player does not take home their winnings.
But it might not all be so risky and scam-infested. New types of crypto casino games are coming to light. They use blockchain and Web3 to gain trust from their audience.
Web3 Crypto Casino Games
The idea that anything related to cryptocurrencies can make betting safer may seem crazy. Still, the development of decentralized blockchain-based Web3 technology is going well.
Platforms are being created to allow users to own their own data instead of handing it over to companies. Blockchain makes it possible to do this in an open, trustless, decentralized and transparent environment. This can solve many of the problems with Web2 platforms.
Although gambling is completely legal in many places, people continue to place billions of dollars on unregulated offshore sites.
Players are therefore easy targets for bad actors. However, these pages can disappear overnight along with the players’ cryptocurrencies.
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 governed by a smart contract, an immutable, self-contained program that operates under terms agreed upon by the user”.
According to Mr. Liang, instead of leaving the cryptocurrency to a third party, players only need to connect their own crypto wallet to the protocol. “By removing the middlemen in this way, we achieve a much improved and smoother user experience. There is no more transfer of private data, no more exorbitant withdrawal fees, no more worries about manipulation of spreads by sports betting companies”.
Platforms like Divvy.bet, which 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’ll be able to see your bankroll, have full control over it when bets are settled, and know there’s enough money in the house to pay you. This is a big improvement over traditional sports betting platforms which are effectively a black box in terms of how your funds are spent and how much liquidity is available”.
Other Blockchain Betting Sites
Another crypto blockchain betting site is Betswap.gg which is 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 reworked the traditional betting model to create a betting exchange where users bet against each other rather than against the platform.
“Participants can choose to be players or bookmakers, with Betswap.gg offering a transparent betting model with no hidden fees and minimal gas charges. Betswap.gg does not require users to 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 over users’ funds at any point, allowing players to place individual bets directly from their wallets and withdraw their winnings seamlessly, securely and instantly.”
Crypto casino games and influencers
With the rise of crypto casino gaming sites, influencers are paid to play the games and do live streaming for their audience. However, what you will find buried deep in the disclaimer is that these influencers received the money they wagered in addition to receiving huge payouts for streaming the content.
Max Maher runs a channel with almost a million subscribers. He says: “Many streamers regularly post warnings about the dangers of gambling. But streamers are paid absurd sums just to play on these sites. Streamers often receive the money they play with – unlike other users who play with their own money . This of course encourages streamers to be more ruthless in the game.”
A YouTuber anonymously said on Maher’s page that he was paid a million a month to stream casino games. According to Maher, streamers give in to temptation and agree to contracts even when they feel morally conflicted.
It is always up to the viewers to make responsible decisions. However, these streams reach children, especially on platforms like Amazon-owned Twitch, which are teeming with children. However, this platform has started cracking down on unauthorized gambling sites.
But if you love to play and want to play online, there are millions of options available to you by using a search engine.
Or you can just trade cryptocurrencies in a bear market. That’s a bet in itself.
All information on our website is published in good faith and for general information purposes only. Any action taken by the reader based on information found on our website is entirely at the reader’s own risk.