What are dApp Casinos: A Detailed Guide To Best dApp Casinos in 2020
dApp casino – A detailed guide to what are dApp casinos empowered by blockchain technology.
The modern world is powered with innovative technologies that are changing the landscape of how we live, work, and now even playing. From education to energy, blockchain technology innovation can revolutionize multiple sectors through its decentralization protocol. The emerging technology has the potential to also transform the online casino and gambling industry. While the online gambling industry is exponentially rising since the past few years, the onset of blockchain and cryptocurrencies can offer significant advantages to its functionalities and inherent protocols.
In this article, we take a look at what are dApp casinos, what are the advantages of decentralized casinos in comparison to online casinos, and what are the best dApp casinos of 2020.
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What are dApp Casinos?
Decentralized applications, also referred to as dApps, are open-source applications developed on a decentralized blockchain network. Since they are decentralized, there is no central authority and are completely secured through cryptographic protocols.
But, what are dApp casinos? Are they similar to land-based casinos? Well, no. A dApp casino is similar to an online casino but with the added advantages enabled through blockchain technology as well as cryptocurrency tokens. The online gambling industry is increasingly shifting towards decentralized applications in the online gaming industry. The dApp games are built on a blockchain platform like Ethereum or EOS.
The global gambling market, worth nearly $450 billion in 2018, is starting to implement decentralized applications to allow players to have a fair and transparent experience in the online gambling industry.
Advantages of dApp Casinos In Online Gambling
The online gambling market has taken off to new heights in the past few years. A report predicts that the online gambling market will rise with a CAGR of 11% during 2018-2022. Moreover, the latest trend of gambling with bitcoin offers it a new direction. The decentralized landscape offers significant advantages boosting the overall growth of the online gambling industry.
Let’s look at the advantages of dApp casinos with blockchain and cryptocurrencies.
In many countries to date, online gaming is yet to be legalized. In some cases, even banks do not support transactions that are to and from gambling sites. A blockchain-based casino provides an alternative to all these cases. Transactions are facilitated by cryptocurrency tokens like Bitcoin. As transactions made from bitcoin are anonymous, players can freely engage in gambling with bitcoin on a decentralized casino without the fear of the government overlooking or waiting for bank approvals.
Unlike traditional online gambling platforms, there is no need to go for lengthy KYC procedures for verifying your identity. Instead, players in the online gambling arena generally enjoy the privacy feature offered by gambling websites.
The decentralized applications enable cryptographic protocols so as to offer optimum security of transactions. These cryptocurrency transactions are relatively secure as compared to our current traditional methods. Players do not have to fill any credit or debit card information on the platform.
- Negligible Fees
Another significant advantage of online gambling with dApp casino is the zero or negligible fees that players have to pay. Transactions can instantly be transferred to and from a player’s wallet with almost negligible transaction fees.
- Instant Payouts
Withdrawals in online gambling can be frustrating as it may take days or even weeks to clear. Players receive the confirmed payout amount weeks later. While with dApp online casino, players can receive instant transaction confirmation as well as instant deposits into their wallets.
Normal Online Casinos VS dApp Casinos
These are some of the primary advantages of a dApp casino in comparison to traditional models. In addition to all the above benefits, using blockchain innovation also helps in creating a fair and transparent experience in comparison to normal online casinos. Let’s take a look!
1. Provably Fair
The current fiat-based online gambling is highly complex and opaque. Players need to rely on and trust the service providers for displaying the correct results. However, with the onset of bitcoin, a new method of a provably fair casino has been introduced.
The provably fair method is unique solely to decentralized casinos. It is a technology that makes it impossible for a player or the gaming provider to cheat. With a blockchain-enabled cryptographic hash function and seeds, the results can be individually vetted by the user. Information about the bet, results, and outcomes are stored on the transparent public ledger of bitcoin.
This tool of provably fair gambling is only limited to decentralized casinos that use cryptocurrencies as a payment method. Even the land-based casinos or fiat-based online gambling are not susceptible to this tool of fair vetting.
2. Automated by Smart Contracts
A smart contract is a technological innovation in the blockchain and decentralized application ecosystem. These contracts are written in the form of codes and are automatically executed whenever a pre-defined condition is triggered. The interactions within a dApp are automated through smart contracts.
In a normal online casino, a centralized provider of the service controls a player’s money and game results. It is possible that this service provider may run away with players’ money since the control rests in their hands. In a dApp casino, no centralized service provider or any third-party has the control over a player’s funds. Instead, all the transactions are processed through a smart contract code that runs on the decentralized application. Any exchange of money between the game and the player is through the decentralized application.
Land-based casinos or online casinos have one thing in common- the house always has an upper hand. Even the player has to give a percentage of his profits as a house-edge to the casino. In most of the normal casinos, the percentage of house-edge is vague and unfair.
But with dApp casinos, the house edge is usually low, and also the percentage is clearly specified. The payouts are also directly transferred to a player’s cryptocurrency wallet.
Best dApp Casinos
In the last 3 years, the number of platforms offering decentralized gaming applications has increased. Different games based on decentralized blockchain networks like Ethereum or EOS have been developed.
Now, over the years different kinds of gambling platforms have emerged. Moreover, the online bitcoin gambling industry has evolved a number of games and bets. Amidst multiple platforms each serving different games, bonuses, and features how do you find the best dApp casino that suits all your requirements? On DApp casino, we have combined and reviewed some of the best dApp casinos existing in the market.
Although it started with offering simple games, a dApp casino now offers a number of popular games for a player to indulge in.
dApp Dice Games
dApp dice game involves drawing up a random dice number with the bet of it being above or below the selected threshold. This is the simplest type of online betting based on blockchain. The games also incorporate the option of provably fair algorithms.
dApp Crash Games
dApp crash games are becoming increasingly popular among players. This game features a bitcoin curve that increases and can crash down at any point. The key is to encash the bet before the curve crashes.
The prominent card games include poker and blackjack. Players can either choose to play with other players or with the gambling operator. Many platforms of online poker now include the option of playing with bitcoin.
dApp Roulette Games
Much like land-based casinos, jackpot wheels in online gambling includes a player spinning the wheel. It is purely based on luck and the virtual wheel produces the desired ‘Jackpot’.
dApp Sports Bets
dApp sports betting sites allow players to bet on not only the major sports events of big sports but also niche sports or e-games. Furthermore, betting is not limited to winning or losing hands but also score predictions above or below a general threshold.
EOS and Ethereum Casino dApps
In order to develop decentralized applications for the gaming sector, there are two widely used platforms namely Ethereum and EOS. Developers leverage the open-source blockchain network of these platforms to build dApps and smart contracts.
Ethereum is the most popular platform for decentralized applications within all sectors. Moreover, in 2019, almost half of the dApps built on the Ethereum blockchain were for gaming applications. Over the years, EOS and another platform called TRON are the most used networks for building gambling dApps.
dApp Casino Bonus and Affiliation
In order to promote games on their casinos, service providers have come up with attractive casino bonuses and affiliation links. There are various kinds of dApp casino bonuses offered including
- Bonus upon registration- A player receives a certain amount of tokens upon registration that they can use it for playing games on the dApp casino.
- No-deposit bonus- These are offered either in the form of free spins or free cash bonus that a player can use it for playing different games on the dApp website.
Affiliate programs have now occupied a place in almost any industry. Specifically for online gambling, it is even better. Moreover, they are an effective way of earning extra bucks along with monthly winnings. A player can even enjoy playing their favorite games with the extra money generated through affiliation.
Affiliation is a tool for online casino sites to take their product to a wider audience. It has become an effective marketing tool and hence service providers offer attractive commission to join their affiliate programs.
The most fundamental mode of affiliation, as provided by a number of service providers, is through an affiliate link. You will receive your link once you sign up on the affiliation program. You can start posting this link on different forums or your social media platforms. You can also refer this link to your friends and contacts. When any user signs up and makes a payment through your link, you will earn a commission. The more people joining through your link, the higher the commission you get to make.
In this article, we have covered what are dApp casinos and what are the significant advantages of dApp gaming casinos in comparison to the traditional gambling infrastructure. The overall decentralized gaming ecosystem is likely to boost owing to the popularity of blockchain and cryptocurrencies.
The whole market of cryptocurrency is maturing. Moreover, industries are finding significant advantages with blockchain and crypto as compared to traditional methods. The oncoming of dApp casinos in the online gambling industry has entirely changed its landscape. Additionally, it has driven value into the industry by introducing methods of provably fair algorithms, house-edge, easy payouts, and attractive bonuses.
The impact of decentralized applications based on the blockchain along with cryptocurrencies in this sector is huge. Overall, with the increasing relevance of dApp casinos as well as online gambling, the pair seems like a ‘match made in heaven’.