We jump into the topic of crypto casinos, the blockchain, and provably fair reporting to learn if we have finally found an answer to whether casino game results can be trusted.
A recent case study by leading iGaming software supplier and aggregator Slotegrator praised the impact of provably fair game providers on the online casino and sports betting sectors. Join us as we delve into their reasoning and investigate why online gamblers should consider increasing the number of provably fair games they play.
Playing your favourite casino games or betting on your local sports team from the comfort of your home or on your mobile device while travelling is undoubtedly the best way to gamble.
Then consider zero travel or accommodation fees, the option to play in multiple currencies, and the ability to change venues with the click of a button, and there is no way land-based gambling can compete with the online experience.
The one area where there has been some room for pushback in the online space is the need for more interpersonal connection. All transactions are done in a menu; when your team wins, you cheer alone, and should the dice fall in your favour, there is no one to high-five. The online gambling industry's response to this has been catered for to some degree by live casino games. Here punters can interact with the croupier, chat with other players, and enjoy unique entertainment games like Crazy Time or Monopoly Live.
The other glaring vacancy is the ability to see the outcome of a game in real-time. When you play blackjack, you can watch the dealer handle the cards, and the result of the hand is tangible. When the outcome of each game is simply a reconfiguration of pixels on a screen, there can be room for doubt, especially if you find yourself on a cold streak.
Online gamblers need to "see" the results of their games in an environment or format that builds trust.
With online gambling being such a technology-focused industry, it was clear that the solution to this problem would have to be developed within the tech space – and that is where the blockchain comes into play.
What we already have in place at any online casino is using cryptography (the practice of securing data using coded entries) to protect your personal, banking, and gaming data when transacting online. Anytime you use a website that uses Secure Socket Layer (SSL) encryption (signified by the lock icon next to the website address), you can rest assured that the site is actively protecting your information.
The next step is the most important one, the invention of the blockchain. While most newsfeeds that feature blockchain-related content tend to focus on the rise and fall of cryptocurrency prices and, to some degree, the crazy money people are spending on NFT artworks, the security and transparency benefits of the platform are underpraised.
Crypto casinos offer players the ultimate combination of secured data transfers while simultaneously hosting the transfers in a nearly unhackable environment.
With the security of online gambling and data bedded down, we can now address the problem we raised earlier – online players need the transparency of outcomes that land-based gambling offers.
The solution is what is known as Provably Fair Report or Provably Fair Gambling.
In its simplest form, any casino game hosted on the blockchain will allow you to view the outcome of said game as recorded on the blockchain. These games will utilise the following tech to ensure a truly random game that pays out in accordance with the advertised return to player (RTP) ratio:
We now have a fair casino game result that is not manipulated by any outside party. We also know that the data has been securely transmitted, avoiding any question of its legitimacy. And finally, it is hosted on the blockchain, which inscribes each action (or game result) into its structure, ensuring it cannot be altered or amended once recorded.
Crypto casinos offer players a reporting tab called “Provably Fair”, which allows them to access any game played on their account, using a specific hash, to review the game's outcome as it was written onto the blockchain.
This unprecedented level of transparency and access to gaming data was not available until the creation of the blockchain and speaks volumes about the security and trustworthiness of gaming sites that choose to host their business on this incredible new technology.
As an online gambler in 2023, here are several reasons why you need to learn more about the blockchain and how it can serve your gaming needs:
If you want to expand your online gambling repertoire, we recommend visiting our Bitcoin casino section for more information.
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