Blockchain and Gambling - page 2. | Bitcointalksearch.org

slackovic

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Quote from: Alisha-k on October 02, 2021, 07:56:31 AM

Quote from: harizen on October 02, 2021, 06:12:06 AM

Quote from: slackovic on October 02, 2021, 02:58:18 AM

If internal transactions would be registered on a blockchain, everything would be publicly visible.

And for a reputable site, I don't think they will have to go through cheating the balance for the sake of scamming users.

This is for reputable sites how about sites with no reputation to protect, no integrity to secure. We are all aware of various gambling sites having regular disputes with their clients on regular basis. Most times it could be error in their database structure and in some other case it could be a deliberate act from the gambling room. Blockchain has a lot to do in here since trust issues arise daily

That's what I'm talking about. Imagine that you deposit 1 BTC to some casino or betting website and one day you want to withdraw and it says that you can withdraw only 0.5 BTC. What can you do about it? You can never know where did 0.5 BTC go because internal transactions are not public. If every user would have a wallet and if every transaction would be recorded on a blockchain, everything would be publicly visible.

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Quote from: goinmerry on October 02, 2021, 08:00:02 AM

Quote from: Alisha-k on October 02, 2021, 07:56:31 AM

This is for reputable sites how about sites with no reputation to protect, no integrity to secure. We are all aware of various gambling sites having regular disputes with their clients on regular basis. Most times it could be error in their database structure and in some other case it could be a deliberate act from the gambling room. Blockchain has a lot to do in here since trust issues arise daily

I think most of us here will not play on a site that is not popular, has no integrity, and not worth putting trust.

If users still play there and there's a problem that happened on their account, that's their fault for trusting that site despite a good number of trusted casinos which we can found in the Gambling section.

I think so too and by now there is a sufficiently large number of online casinos offering gambling with cryptos on their websites. Most of them are very cooperative and some of them aren't even asking for KYC, yet they pay promptly.

A blockchain wouldn't change much if behind that blockchain is a fraudulent business anyway. Stick to the best guns we have in the industry and that will also put pressure on newcoming casinos in a way that they have to prove themselves first in order to get players' attention.

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Quote from: Alisha-k on October 02, 2021, 07:56:31 AM

This is for reputable sites how about sites with no reputation to protect, no integrity to secure. We are all aware of various gambling sites having regular disputes with their clients on regular basis. Most times it could be error in their database structure and in some other case it could be a deliberate act from the gambling room. Blockchain has a lot to do in here since trust issues arise daily

I think most of us here will not play on a site that is not popular, has no integrity, and not worth putting trust.

If users still play there and there's a problem that happened on their account, that's their fault for trusting that site despite a good number of trusted casinos which we can found in the Gambling section.

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Quote from: harizen on October 02, 2021, 06:12:06 AM

Quote from: slackovic on October 02, 2021, 02:58:18 AM

If internal transactions would be registered on a blockchain, everything would be publicly visible.

And for a reputable site, I don't think they will have to go through cheating the balance for the sake of scamming users.

This is for reputable sites how about sites with no reputation to protect, no integrity to secure. We are all aware of various gambling sites having regular disputes with their clients on regular basis. Most times it could be error in their database structure and in some other case it could be a deliberate act from the gambling room. Blockchain has a lot to do in here since trust issues arise daily

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Quote from: slackovic on October 02, 2021, 02:58:18 AM

If internal transactions would be registered on a blockchain, everything would be publicly visible.

It's not necessary for me as long as our account will show us the correct balance. I mean our deposit addresses are controlled by the site anyways, does it have a bearing if we will see it on the blockchain just to confirm that our account is having a legit balance when doing an internal transaction? Internal transactions will also be visible on our transaction history on that site.

And for a reputable site, I don't think they will have to go through cheating the balance for the sake of scamming users.

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Quote from: slackovic on October 02, 2021, 02:58:18 AM

I mean any activity that's not deposit or withdraw. When you deposit your money, you don't know that it's really on your wallet because all you see is a number on a website. The owner of the betting site can take your deposit and do with it what ever he wants and you wouldn't know that your money is gone until you want to withdraw it. If internal transactions would be registered on a blockchain, everything would be publicly visible.

I'm not saying that betting sites are doing that, but you never know until you try to withdraw your money. That's why you have to trust that no one will "play" with your money. If internal transactions would be registered on a public blockchain, no trust would be needed.

But given the fact that gamblers replenish their balance through the blockchain wallets where the casino stores the cryptocurrency are known, if you are interested, you can track them. But is it really that important to you? Are you playing for millions of dollars and it is important for you to be confident in the solvency of the casino at such a high level?

slackovic

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Quote from: agustina2 on October 02, 2021, 02:43:45 AM

Quote from: slackovic on October 01, 2021, 08:07:32 AM

I misread what you wrote. I thought that betting web sites are using blockchain for internal transactions. That's why I was so surprised. I know about provable fairness system with casinos.

By internal transactions, do you mean transferring funds between accounts on that site? There's no blockchain involved there as that initiated by executing a contract. It was used on exchanges like Binance that's why you won't see any transaction hash for internal transactions.

Stake also have internal transfers between their users. No need to transfers funds via blockchain.

I mean any activity that's not deposit or withdraw. When you deposit your money, you don't know that it's really on your wallet because all you see is a number on a website. The owner of the betting site can take your deposit and do with it what ever he wants and you wouldn't know that your money is gone until you want to withdraw it. If internal transactions would be registered on a blockchain, everything would be publicly visible.

I'm not saying that betting sites are doing that, but you never know until you try to withdraw your money. That's why you have to trust that no one will "play" with your money. If internal transactions would be registered on a public blockchain, no trust would be needed.

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Quote from: slackovic on October 01, 2021, 08:07:32 AM

I misread what you wrote. I thought that betting web sites are using blockchain for internal transactions. That's why I was so surprised. I know about provable fairness system with casinos.

By internal transactions, do you mean transferring funds between accounts on that site? There's no blockchain involved there as that initiated by executing a contract. It was used on exchanges like Binance that's why you won't see any transaction hash for internal transactions.

Stake also have internal transfers between their users. No need to transfers funds via blockchain.

slackovic

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Quote from: KTChampions on October 01, 2021, 07:34:08 AM

Quote from: slackovic on October 01, 2021, 02:10:06 AM

Quote from: KTChampions on September 30, 2021, 05:18:59 PM

The article clearly states in what sense they understand responsible gambling, its entire content is quite unambiguous. The conflict between the consumer and the institution is a very hot topic, and in gambling, the blockchain really made a breakthrough in solving this issue. Once there were niches in gamling for scammers both from the casino and from the player (who claimed, for example, that they made a bet of $ 500 and their winnings were stolen, although in fact they made a bet of 5 cents), but with the start of using the blockchain these niches have disappeared since everything is now transparent and easily verifiable. So we can say that gambling in such conditions has become more responsible.

There are casinos that already use blockchain? I didn't know that. Do you know any example and which blockchain they use? I'm really curious because I thought that there is no blockchain that is decentralized, scalable and secure.

Most casinos (which are related to cryptocurrencies) now use a provable fairness system that directly uses the blockchain, you can read more for example here: https://www.provably.com/ By the way, there you can see links to casinos that use this system, plus reviews of these casinos, choose yourself, do not forget about DYOR.

I misread what you wrote. I thought that betting web sites are using blockchain for internal transactions. That's why I was so surprised. I know about provable fairness system with casinos.

KTChampions

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Quote from: slackovic on October 01, 2021, 02:10:06 AM

Quote from: KTChampions on September 30, 2021, 05:18:59 PM

The article clearly states in what sense they understand responsible gambling, its entire content is quite unambiguous. The conflict between the consumer and the institution is a very hot topic, and in gambling, the blockchain really made a breakthrough in solving this issue. Once there were niches in gamling for scammers both from the casino and from the player (who claimed, for example, that they made a bet of $ 500 and their winnings were stolen, although in fact they made a bet of 5 cents), but with the start of using the blockchain these niches have disappeared since everything is now transparent and easily verifiable. So we can say that gambling in such conditions has become more responsible.

There are casinos that already use blockchain? I didn't know that. Do you know any example and which blockchain they use? I'm really curious because I thought that there is no blockchain that is decentralized, scalable and secure.

Most casinos (which are related to cryptocurrencies) now use a provable fairness system that directly uses the blockchain, you can read more for example here: https://www.provably.com/ By the way, there you can see links to casinos that use this system, plus reviews of these casinos, choose yourself, do not forget about DYOR.

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Quote from: Beparanf on September 20, 2021, 02:01:27 PM

There's a lot of online casino that completely coded on blockchain. The only problem was the slow transaction speed whenever lots of player is playing at the same time. Blockchain is indeed the solution to gambling industry to solve trust issue, the only problem was the blockchain that will give the right TPS to run this tons of transaction for a short period of time.

I would note that there is a problem of low transaction speed, but it is not the only one now. Over the past year, the even more frustrating issue of increasing transaction fees has been added. For example, in Ethereum, they have become so large that they immediately make it impossible to play for players from countries with a low standard of living, for example, from India. $ 30-50 per smart contract transaction, for some Indians this can be a whole month's earnings.
Well, how can you play here Huh

? Yes, just absolutely nothing! Cry

Of course, other blockchains are starting to be used, but all of them are also gradually increasing commissions.
This is a problem that only technology in the future can solve.

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Quote from: fiulpro on September 20, 2021, 01:16:08 PM

So I recently read a very interesting article which actually defines about how blockchain is responsible for more responsible gambling.
https://www.gamblingnews.com/news/hashing-it-out-ep-11-blockchain-as-a-solution-for-more-responsible-gambling/

Quote

One of the attendees whom CoinGeek interviewed is Peter Higgins – a commercial mediator whose work is to solve disputes between gambling operators and clients. Higgins explained that sometimes these conflicts involve big sums of money and that his job is to prevent things from escalating to court where possible.

Speaking about blockchain, Higgins is quite optimistic about its use in solving such conflicts as their robust way of working will make it much easier to find out who is right and who is wrong.

“If you can have these ledgers in place that proves what was placed when with some different examples, in crude terms, it’s basically more evidence for the operator or for the client in that case,” Higgins explained.

- An essential method to solve conflicts in the long run which does mean that there will be less problems and we will have more proof in case of some dispute

Not only that it have immense potential account to the author, the knowledge, license, the compliance, data, gambling, approach safety it's all very well received with blockchain technology.

It can also be used to track a players journey apparently which I don't really understand about how it's under the privacy map.

Well the article was overall a good read, what do you think ?

It certainly made gambling more accessible to many people. For example in my country, paying in the foreign casinos is forbidden. Before crypto, the only way to access them was via credit cards and lots of people paid fines because cc moves are as you know are easily traceable.

After crypto, it became almost impossible to know where you play send whom you send you money to and there are far more many online casinos thanks to the crypto. The business is literally booming.

God bless crypto.

slackovic

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Quote from: KTChampions on September 30, 2021, 05:18:59 PM

The article clearly states in what sense they understand responsible gambling, its entire content is quite unambiguous. The conflict between the consumer and the institution is a very hot topic, and in gambling, the blockchain really made a breakthrough in solving this issue. Once there were niches in gamling for scammers both from the casino and from the player (who claimed, for example, that they made a bet of $ 500 and their winnings were stolen, although in fact they made a bet of 5 cents), but with the start of using the blockchain these niches have disappeared since everything is now transparent and easily verifiable. So we can say that gambling in such conditions has become more responsible.

There are casinos that already use blockchain? I didn't know that. Do you know any example and which blockchain they use? I'm really curious because I thought that there is no blockchain that is decentralized, scalable and secure.

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Quote from: AmoreJaz on September 26, 2021, 03:20:01 PM

Quote from: South Park on September 26, 2021, 01:38:54 PM

While this is very sad at the same time we can be satisfied with the knowledge that casinos are not going to last long, people in this market are very susceptible to any wrongdoing from casinos as they know that they cannot really get their coins back unless the casino is honest, so once one of those issues appears and it can be proven the player is on the right and not the casino and they still decide to not give back the money then the community as a whole will avoid such casino from now on.

this is why it is very important to check the background of the casino, in terms of reviews/feedbacks, check if those are legit. because some of them are just trolling to ruin the image of the casino. in this forum, we can always check the trust summary of the casino rep/admin, for those who are still new to this. if they have gotten legit negative feedback from reputable member, then think twice of sending money to that casino. in time, we will know if the casino will always treat their players in fair manner or not.

This is something that I always do, after all there have been accusations against some casinos that were completely unfounded and it was obvious that it was an attempt by a third party to try to lower the image the community had of such casino, however the trust and the flag system we have in the forum is a pretty good indicator about the chances of a casino scamming you, so if the casino has been around for a long time and they have a good reputation then the chances you will be scammed are low.

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Quote from: davis196 on September 30, 2021, 02:48:38 AM

The title says that blockchain can help for more responsible gambling,but the article is about solving conflicts between the gamblers and the casinos.
In my opinion,responsible gambling means trying to fight gambling addiction among the gamblers.
This has nothing to do with the conflicts that occur between gamblers and casinos.
I know that the blockchain technology can make online gambling more transparent and reduce the scams.
What I don't know is how implementing blockchain technology will reduce gambling addiction and make the gamblers more responsible. Sad

The article clearly states in what sense they understand responsible gambling, its entire content is quite unambiguous. The conflict between the consumer and the institution is a very hot topic, and in gambling, the blockchain really made a breakthrough in solving this issue. Once there were niches in gamling for scammers both from the casino and from the player (who claimed, for example, that they made a bet of $ 500 and their winnings were stolen, although in fact they made a bet of 5 cents), but with the start of using the blockchain these niches have disappeared since everything is now transparent and easily verifiable. So we can say that gambling in such conditions has become more responsible.

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Quote from: AmoreJaz on September 30, 2021, 04:53:26 PM

Quote from: worldofcoins on September 30, 2021, 02:10:05 PM

Quote from: davis196 on September 30, 2021, 02:48:38 AM

The title says that blockchain can help for more responsible gambling,but the article is about solving conflicts between the gamblers and the casinos.
In my opinion,responsible gambling means trying to fight gambling addiction among the gamblers.
This has nothing to do with the conflicts that occur between gamblers and casinos.
I know that the blockchain technology can make online gambling more transparent and reduce the scams.
What I don't know is how implementing blockchain technology will reduce gambling addiction and make the gamblers more responsible. Sad

Well, it's easy said than done tbh.

Gamblers at least the majority of them will gamble till they have lost it all and will do the same every time in the future. The thing with this is that the people don't always know that they are addicted and if you ask them they'll say they gamble a bit here and there but are serious... I have known a few people in my local circle who're still addicts and no matter how I try to make them quiet it just doesn't work and I'm thinking of leaving their circle as a whole.

blockchain technology definitely will not be responsible in the reduction of gambling addiction. it will aid in transparency and honesty from the casino operations. but addiction is a different story. blockchain tech will aid in the fast resolution of disputes between the casino and the player, as they can easily track the activities of the player and check where it went wrong. now, it is even easier to check the provable fairness of the system by using the provable verifiers. the job of those handling disputes will be much easier if the casino is running via blockchain tech.

Don't know on why they are tagging blockchain technology into gambling addiction which doesn't really make any sense because they are really totally different because addiction is something a personal

problem which had been caused by the players motives and perception about gambling which turns out to be bad.Blockchain is what make things more interesting where it do really make things possible

and transparent which simply means it has nothing to do about emotional or events in life on a particular user.

AmoreJaz

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Quote from: worldofcoins on September 30, 2021, 02:10:05 PM

Quote from: davis196 on September 30, 2021, 02:48:38 AM

The title says that blockchain can help for more responsible gambling,but the article is about solving conflicts between the gamblers and the casinos.
In my opinion,responsible gambling means trying to fight gambling addiction among the gamblers.
This has nothing to do with the conflicts that occur between gamblers and casinos.
I know that the blockchain technology can make online gambling more transparent and reduce the scams.
What I don't know is how implementing blockchain technology will reduce gambling addiction and make the gamblers more responsible. Sad

Well, it's easy said than done tbh.

Gamblers at least the majority of them will gamble till they have lost it all and will do the same every time in the future. The thing with this is that the people don't always know that they are addicted and if you ask them they'll say they gamble a bit here and there but are serious... I have known a few people in my local circle who're still addicts and no matter how I try to make them quiet it just doesn't work and I'm thinking of leaving their circle as a whole.

blockchain technology definitely will not be responsible in the reduction of gambling addiction. it will aid in transparency and honesty from the casino operations. but addiction is a different story. blockchain tech will aid in the fast resolution of disputes between the casino and the player, as they can easily track the activities of the player and check where it went wrong. now, it is even easier to check the provable fairness of the system by using the provable verifiers. the job of those handling disputes will be much easier if the casino is running via blockchain tech.

worldofcoins

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Quote from: davis196 on September 30, 2021, 02:48:38 AM

The title says that blockchain can help for more responsible gambling,but the article is about solving conflicts between the gamblers and the casinos.
In my opinion,responsible gambling means trying to fight gambling addiction among the gamblers.
This has nothing to do with the conflicts that occur between gamblers and casinos.
I know that the blockchain technology can make online gambling more transparent and reduce the scams.
What I don't know is how implementing blockchain technology will reduce gambling addiction and make the gamblers more responsible. Sad

Well, it's easy said than done tbh.

Gamblers at least the majority of them will gamble till they have lost it all and will do the same every time in the future. The thing with this is that the people don't always know that they are addicted and if you ask them they'll say they gamble a bit here and there but are serious... I have known a few people in my local circle who're still addicts and no matter how I try to make them quiet it just doesn't work and I'm thinking of leaving their circle as a whole.

Davidvictorson

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Livecasino.io

The fact that blockchain can be used to track a player's journey to show the markers, the indicators of gambling-related harm and promote responsible gambling is absolutely amazing. However, there are complicated disputes between gambling operators and clients that would definitely end up in court. Like the case of Mr Andrew Green who played a game called 'Frankie Dettori's Magic Seven Blackjack' on Betfred’s mobile casino app. Mr Green also played on a side bet feature within the game. At the end of Mr Green’s gaming session had won £1,722,500.24 as shown by the app. However, the operator would not give him his winnings because according to them, there was a fault in the game.

https://www.cms-lawnow.com/ealerts/2021/04/what-the-high-court-summary-judgment-in-the-green-v-betfred-case-means-for-gambling-operators

AicecreaME

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Quote from: goinmerry on September 29, 2021, 07:41:39 PM

Quote from: Fivestar4everMVP on September 29, 2021, 06:49:39 PM

Thank God for the power of blockchain, everyone who is well involved in crypto knows that nothing in terms of transaction is hidden when it comes to blockchain technology, blockchain has made alot of different types of transactions easier to track including those in the gambling world, issues arising from gambling operators and client can easily be resolved with the evidence proven with in blockchain, personally, I no longer play with operators where crypto isn't accepted as a form of payment, cus crypto is not only easier to transact with, but also safes more in transaction fees, problems arising between operators and clients can easily be resolved, except the transactions isn't blockchain based.

I don't see that as a good feature of blockchain when it comes to gambling. The reason we play in crypto-gambling is to be anonymous, not to be tracked by anyone. Blockchain is good for other features but not as a tracking device for gambling transactions.

With the centralization now slowly coming to crypt-gambling, we might not enjoy soon the benefits of playing in crypto-gambling as KYC will be mandated and it's easy for operators now to know where our crypto is transacting to.

Blockchain transactions can be track but it has only limitations, like it could only shows where country do you live but not your name and how do you earn your money. Besides, let's say they could really trace all of it, your name, address, your whereabouts, then why be afraid if you're not doing anything wrong, right? Also not everyone in the crypto world has the time to trace all of the cryptocurrency users just to become a stalker.

Topic: Blockchain and Gambling - page 2. (Read 893 times)