LACK OF TRUST (TO THE SYSTEM)
Lack of game process understanding, lack of proves of fair-dealing and transparency, not transparent formulas of combinations drawn and winner determination algorithms leading to the lack of user’s trust.
LIMITATIONS ON DEPOSITS AND WITHDRAWALS
Traditional online casinos are regulated by the law of money laundering andlegalization (AML & KYC). The most of the online casinos and poker rooms use regular currencies that obey the law of the processing centers that withdraw pricy fees and taxes for payment processing, currency conversion and other operations. The market average commission for cash in is 8% ofthe deposit sum, and cash out – starting from 2%.
COMMERCIAL EXPLOIT OF FROZEN FUNDS
As a rule, all players’ deposits are stored on the account of the traditionalcasinos. So that, casinos have access to all money paid by players and can commercially exploit them. Deposits are profitable for casinos, as these institutions have the possibility to function as credit organization.
CENTRALIZED SYSTEM OF THE RANDOM NUMBER GENERATORCasinos are always paid off not depending on clients’ win or loss. This is
how it works: the base of the mechanism is the random number generator.
Potentially, this system can be controlled from the outside, i.e. the one with
the access to a server or programming code is able to directly influence
game results.
SPECIAL SKILLS AND EXPERIENCE REQUIREDAverage players or novice without any defined game strategy are more likely
to be at a high risk of loss. In the traditional poker rooms 80% of players
become planktons for 20% of whales.
VULNARABILITY AND SECURITYCurrently, casinos store their data in centralized servers and, though
the latest encryption technologies in place help keep such data safe, the
information still isn’t impregnable. In fact, several cases of hacking have
been recorded in the past three years. Online casinos are attractive targets
for hackers as a large sum of money flows through them and hacking them
could be very lucrative.
Thank you for sharing all this information, it will help us a lot in understanding what are the advantages of Dicegame that don't have the existing online games today.
You're welcome this is all based on whitepaper
SLOW VERIFICATIONIf to speak about games using fiat currency, we can notice, that the user has
to provide lots of personal data to be registered for a game. Vetting personal
information, a single case at a time slows down the process of setting up
accounts and playing casino games.
HIGH COMMISSIONS AND SLOW TRANSACTION SPEEDSThe world doesn't stop developing, so online casinos start implementing all
algorithms using blockchain technology. But, here we cannot but identify
some actual problems. Such online casinos in its majority use Ethereum
blockchain as the base of all mechanisms. Thus, we can observe high
commissions for each call to smart contract and low speed of transactions.
Reference:
https://dicegame.io/pdf/Whitepaper.pdf