Decentralized vs Centralized Gambling....Which do you prefer? - page 3.

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Quote from: Questat on March 28, 2024, 03:14:05 AM

it's easier said than done. All the factors are there that a decentralized casino with its system in place will be able to disrupt the centralized casinos. However, the biggest factor that would hindrance that from happening is "regulation", crypto was less or not regulated when it was first created but along the way as it gets more popular, the government came to intervent, so I don't see a decentralized casino would be popular as the government will only make it centralized to comply with the law.

You are absolutely right. I saw one decentralized crypto casino on service board asking for a review from people to give their opinion about the casino, the job was were done and I just check the casino when u saw this thread and guess what, the number of users that joined since I last visit are not up to 100, this means that customers are not coming, and when I also check the smart contract execution on both ETH and Matic, there weren't much going on, people are not playing.

In today crypto adoption, people are ready to give up their privacy for some little fantasy of the casino and ignore the bigger picture. Decentralized remains the best alternative but even the casino are not building on that, how many decentralized casino has a good user interface like Duelbit, like Stake and other popular casino that dominate the crypto space.

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Quote from: 348Judah on March 28, 2024, 12:34:01 PM

Quote from: Abiky on March 01, 2024, 05:25:51 PM

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks.

Very possible since what the gamblers mostly want is to have their privacy in gambling as well as have no issues on anything that may pertains the use of KYC which i believe will not be a concern with the use of a decentralized gambling platform, although we have some already but maybe due to their low in numbers and the reason being that gamblers don't want to risk making their deposits with such because of fear of what may turns after, many have been consistent with the use of the centralized ones.

As of this moment we do still have platforms that we can really be able to play without having the worry about those kind of KYC because it would really be something that not compulsory but rather it would really be just that simply asked on the time that you have done something wrong or something that they would really be needing up some verification.Its always been written up on the terms and conditions on which it would really be just that depending on how you would really be having those kind of impressions. If you dont like on dealing up with these kind of sites then it would be your choice.

There are some platforms that having some lite KYC on which asking some basic information like Roobet as far as i remember. Tons had made out some bad impressions to it
but looking into it on where people or gamblers do really just simply accept it out gradually.

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Quote from: Pumared on March 26, 2024, 12:46:54 PM

Quote from: Abiky on March 26, 2024, 07:50:30 AM

Quote from: Wexnident on March 22, 2024, 10:45:20 PM

I'd say people care more about the reputation of the casino themselves and pretty much most of your average gamblers are pretty far into the KYC thing so I don't think gambling dApps have that much of an allure to them. At most, it'd be pretty equal with regular crypto at casinos and at that point, you'd mostly rely on their reputation to see which of the two types is better of which I'd assume centralized casinos would be voted above the other by quite the margin.

Ofc that's only at this point in time. Things might change really, especially if you consider how dApps can be the alternative for players in countries where gambling is banned/illegal.

The world is heading into automation and full digitalization of everything. AI, Blockchain, and Quantum Computing will become part of our lives in the future. This means we will rely less on middlemen, and more on decentralized protocols/technologies. We could have some sort of "hybrid" casino where there's no central operator involved, but the dApp itself complies with KYC/AML and accumulates profits for its creator (the developer of the contract). There will be a radical transformation of the gambling industry as we know it. Perhaps, it will take decades before we'll be able to witness such a thing. At least, the idea is there. Making it a reality is another story.

I'd expect decentralized gambling dApps to improve to a point where it becomes cost-effective to gamble on them (low fees) without delays (near-instant transactions). For now, centralized gambling will continue to dominate the industry. Cheesy

I agree that there will be automation, it's a fact. However, a hybrid casino is an idea that I have been talking about here. Centralized companies will need to adapt to this, as will decentralized companies, both focused on capturing and facilitating customers.

The concept of a hybrid casino is gaining popularity as it fills the gap between traditional centralized casinos and growing decentralized casinos. This novel technique combines the finest features of both models, providing consumers with a more comprehensive and versatile gaming experience.
Although, the one side, hybrid casinos can offer the stability, security, and reliability of centralized platforms. Users accustomed with traditional gaming platforms may feel more at ease knowing that the platform's operations are overseen by a centralized body.
On the other hand, hybrid casinos can also take advantage of decentralization's advantages, like enhanced accessibility, privacy, and transparency. Users can benefit from increased trust in the platform's impartiality and the privacy of their personal information by leveraging blockchain technology and smart contracts. Decentralized systems also make gambling more convenient by enabling users to visit the casino from any location with an internet connection.

348Judah

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Quote from: Abiky on March 01, 2024, 05:25:51 PM

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks.

Very possible since what the gamblers mostly want is to have their privacy in gambling as well as have no issues on anything that may pertains the use of KYC which i believe will not be a concern with the use of a decentralized gambling platform, although we have some already but maybe due to their low in numbers and the reason being that gamblers don't want to risk making their deposits with such because of fear of what may turns after, many have been consistent with the use of the centralized ones.

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Quote from: Questat on March 28, 2024, 03:14:05 AM

Quote from: Abiky on March 27, 2024, 09:48:57 PM

Quote from: Pumared on March 26, 2024, 12:46:54 PM

I agree that there will be automation, it's a fact. However, a hybrid casino is an idea that I have been talking about here. Centralized companies will need to adapt to this, as will decentralized companies, both focused on capturing and facilitating customers.

I think you mean "decentralized organizations". There's no such thing as a "decentralized company". If it's a company, it wouldn't be decentralized anymore. I see a future where decentralized casinos are governed by a DAO (Decentralized Autonomous Organization) where shareholders dictate the future direction/path of the project. Profits can be either distributed between holders of the DAO's token, or the creator of the contract himself. The possibilities are endless.

Centralized casinos in their current state will become obsolete as advancements in technology will radically transform the gambling industry. This is only the beginning. With Blockchains getting faster and cheaper than ever, we should expect UX for gambling dApps to improve 1000%. Cheesy

it's easier said than done. All the factors are there that a decentralized casino with its system in place will be able to disrupt the centralized casinos. However, the biggest factor that would hindrance that from happening is "regulation", crypto was less or not regulated when it was first created but along the way as it gets more popular, the government came to intervent, so I don't see a decentralized casino would be popular as the government will only make it centralized to comply with the law.

Actually there are still some dex casinos that we've been having on this market today it is really just that it cant really be able to get on the some recognition in compared into those centralized ones.
We've seen some on-chain kind of gaming which is really that totally decentralized but it turns out that these games arent something that brings out some interested on most gamblers. It would be seen it something in talks about on the demand because people would be flocking out into those places on which they could bet out instantly without needing to wait or spending up some transaction fees on dealing up with decentralized gaming. Yes, having the control is a plus but when it do comes into a time that you would really be needing up to have that kind of hassle then no shocking that people would just simply jump.

Yes remembering the days where these casinos arent asking KYC but on the time that they do have that licenses then KYC is been applied. Some become that mandatory
and some do only ask out if something that you do commit out some violation.

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Quote from: Zigabel on March 27, 2024, 02:37:53 AM

Quote from: Abiky on March 01, 2024, 05:25:51 PM

Thanks to the inception of smart contracts, we can now enjoy decentralized gambling in a provably fair way. I've used a few gambling dApps in the past, and the experience was great. Except now that dApps charge high gas fees (on ETH) due to increased network congestion. But with L2 scaling solutions and alternative chains, this should no longer be a problem.

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks.

I prefer decentralized because of its flexibility and freedom with which it comes, so I basically don't really get to want to use a dapps that charge's such high fee that sometimes I might have to first recover the gas fee before start thinking of making profit and that alone sometimes could be Messy around the mind of the gambler because imagine winning on a bet only to discover it's just recovery yet and you will still have to win again before you can start thinking of been in profit but with the decentralized you get to change ur dApps from the ETH chain to such which has a considerable low fee that can be affordable.

The only difference may actually be in security that one may have over the other but then it's still not a big deal if the gambler is able to getting to manage his account well enough to not getting their account exposed and loosing their funds.

You will only have this freedom from dapps on a network with a low transaction rate. Therefore, we can say that one of the points to take into consideration is the network used

Questat

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Quote from: Abiky on March 27, 2024, 09:48:57 PM

Quote from: Pumared on March 26, 2024, 12:46:54 PM

I agree that there will be automation, it's a fact. However, a hybrid casino is an idea that I have been talking about here. Centralized companies will need to adapt to this, as will decentralized companies, both focused on capturing and facilitating customers.

I think you mean "decentralized organizations". There's no such thing as a "decentralized company". If it's a company, it wouldn't be decentralized anymore. I see a future where decentralized casinos are governed by a DAO (Decentralized Autonomous Organization) where shareholders dictate the future direction/path of the project. Profits can be either distributed between holders of the DAO's token, or the creator of the contract himself. The possibilities are endless.

Centralized casinos in their current state will become obsolete as advancements in technology will radically transform the gambling industry. This is only the beginning. With Blockchains getting faster and cheaper than ever, we should expect UX for gambling dApps to improve 1000%. Cheesy

it's easier said than done. All the factors are there that a decentralized casino with its system in place will be able to disrupt the centralized casinos. However, the biggest factor that would hindrance that from happening is "regulation", crypto was less or not regulated when it was first created but along the way as it gets more popular, the government came to intervent, so I don't see a decentralized casino would be popular as the government will only make it centralized to comply with the law.

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Quote from: Abiky on March 01, 2024, 05:25:51 PM

Quote

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks.

I have no problem to each of them bro, I can play centralized and I can also play in decentralized ,I have no problem at any chance because i can provide my KYC but of course with the legit and those trustworthy gambling site .
so with that i have nothing to choose .

Abiky

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Quote from: Pumared on March 26, 2024, 12:46:54 PM

I agree that there will be automation, it's a fact. However, a hybrid casino is an idea that I have been talking about here. Centralized companies will need to adapt to this, as will decentralized companies, both focused on capturing and facilitating customers.

I think you mean "decentralized organizations". There's no such thing as a "decentralized company". If it's a company, it wouldn't be decentralized anymore. I see a future where decentralized casinos are governed by a DAO (Decentralized Autonomous Organization) where shareholders dictate the future direction/path of the project. Profits can be either distributed between holders of the DAO's token, or the creator of the contract himself. The possibilities are endless.

Centralized casinos in their current state will become obsolete as advancements in technology will radically transform the gambling industry. This is only the beginning. With Blockchains getting faster and cheaper than ever, we should expect UX for gambling dApps to improve 1000%. Cheesy

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Quote from: Abiky on March 01, 2024, 05:25:51 PM

Thanks to the inception of smart contracts, we can now enjoy decentralized gambling in a provably fair way. I've used a few gambling dApps in the past, and the experience was great. Except now that dApps charge high gas fees (on ETH) due to increased network congestion. But with L2 scaling solutions and alternative chains, this should no longer be a problem.

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks.

I prefer decentralized because of its flexibility and freedom with which it comes, so I basically don't really get to want to use a dapps that charge's such high fee that sometimes I might have to first recover the gas fee before start thinking of making profit and that alone sometimes could be Messy around the mind of the gambler because imagine winning on a bet only to discover it's just recovery yet and you will still have to win again before you can start thinking of been in profit but with the decentralized you get to change ur dApps from the ETH chain to such which has a considerable low fee that can be affordable.

The only difference may actually be in security that one may have over the other but then it's still not a big deal if the gambler is able to getting to manage his account well enough to not getting their account exposed and loosing their funds.

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Quote from: Aniel Jay on March 22, 2024, 02:20:42 PM

It depends on individual preferences and priorities. Decentralized gambling offers greater anonymity and potentially lower fees, while centralized gambling may provide more regulatory oversight and security measures. So I prefer Decentralized gambling.

Potential lower fees are not true, its not as if Bitcoin transaction fee is very high like when Ordinals was new, the decentralised gambling will still offer a lower fee, thats not possible, it will always depend on the crypto network you choose to use.

Also I want to know a name of the decentralised gambling platform that you know or used to, because I still don't believe that one exist.

I believe that all gambling platforms are centralized, they don't have to ask for KYC instantly, few of them will pretend as if they don't even need KYC but when its time for you to withdraw some money, you will see their true color.

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I personally uses both for different transactions. They have their own advantages and disadvantages. For quick and low costs transactions, I prefer centralized, while for trust and transparency, I prefer decentralized platforms. The choice depends on individuals preferences and priorities.

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Quote from: Abiky on March 01, 2024, 05:25:51 PM

Thanks to the inception of smart contracts, we can now enjoy decentralized gambling in a provably fair way. I've used a few gambling dApps in the past, and the experience was great. Except now that dApps charge high gas fees (on ETH) due to increased network congestion. But with L2 scaling solutions and alternative chains, this should no longer be a problem.

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks.

There is no way this is going to work in the marketing aspect even if it work in technical aspect. People prefer what is simple and easy to use. Let's even say that this concept can work in with casino sportsbets since you don't need to interact that much with smart contracts but how about casino games, this will work but to be honest is going to discourage a lot of gamblers, it's not going to be like a new concept they are not used to and the disadvantage of this is that, if they don't understand it, they will move to another casino that will be more easy than this one.

If we look at it from another angle, the government might not approve many casinos because of this decentralized aspect of it, some countries are very sensitive when it comes to anything that has to do with blockchain and decentralization and AML requirements, that's like prole will not be gambling without need for registration and that's will not make some gambling platform become approve by the government.

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Quote from: Pumared on March 25, 2024, 11:10:58 AM

Quote from: Heartilly on March 24, 2024, 03:15:36 PM

I prefer centralized gambling but it doesn't mean I'm not open to playing on decentralized gambling too.

Most crypto-gamblers want anonymity as to why they switch or prefer to play with crypto-gambling but maybe it's just me that I'm not comfortable gambling my money to a platform that I don't even know who's the person or team running behind it. I also want a gambling platform that is legit and follows the regulations. But if I saw an interesting bonus and promotion on a said decentralized gambling platform, there are big chance that I will test the water there.

In my view, decentralized betting houses need to have something different besides cryptos and anonymity so that they can attract customers.

They need more markets... like with exchanges, centralized services have many more offers than decentralized ones, which rely on p2p. So even thou we all know that decentralized services offer anonymity and better security we still favor centralized exchanges and casinos, because we have more offers. At least that's my opinion based on my experience in the past years.

There is a lot of talk about decentralization, and many services use the word for their self-promotion, but it seems to me that many do not know what the word actually means.

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We are for decentralization but as for these decentralized gambling, it's not all convenient at all. You have to connect your wallets here and there and if you keep logged in, there's a chance that someone might exploit the backdoor and you can potentially lose your funds. The convenience that the centralized gambling offers is totally what the people likes and that's the same for the exchanges that even if we don't like it that much but we have an assurance that we can do it there easier. Both has its pros and cons, I'd love to support decentralized gambling but with such platforms, developers need to maintain them and they have no difference from the operators of the centralized casinos. It's quite confusing isn't it? but there will always be the centralized authority that should control the ins and outs of the gambling operation of a platform. Because whether we like it or not, at the end of the day, it's going to be our preference and if you've got some good experience doing it on decentralized gambling then that's good as you preferred to do it there.

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Quote from: bettercrypto on March 21, 2024, 12:57:13 PM

Of course, I will be lucky enough to win; that's why winning in gambling is also unpredictable. Which is usually where the majority of gamblers lose.
But nowadays, most gamblers who play are on centralized gambling platforms.

Also, the reputable gambling ones are mostly centralized-based platforms, and if there is a reputable casino that is Dex, there is also one, honestly speaking.
And I also think that majority of the players are also playing on centralized gambling casino.

Many people only like to use casinos that have already made a name for themselves so that they can rest assured that their money is safe with them and that they can handle any form of win that they get from the casino.

Aside from the reputation, decentralised casinos always have much fewer games compared to centralised casinos, as their programme might not allow them to add much or require them to do a lot of work in order to do that.

A few web3 casinos that I have tried before were all designed for a specific network, either for Ethereum, BSC, Polygon, or the Solona blockchain. It's only very few of them that have multiple smart contract connections, which could also add to the reason why most of them are not getting the kind of attention they might need.

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Quote from: OgNasty on March 26, 2024, 01:07:21 PM

I think decentralization is important and removes a lot of risk from a poor operator. However, there are some times when you want to be able to blame an operator. For example, if a decentralized casino gets hacked and all the funds stolen, you have no recourse at all. However, if a centralized service gets hacked and all the funds stolen, you can still sue them or hope that they have the funds in reserve to be able to make everyone whole again. Not saying that ever happens, but occasionally you see an exchange pay back hacked funds to users over time. So there are advantages and disadvantages to both.

I even mentioned before that in the incident of hacking and scamming where the involved casino is running anonymously (decentralized), their users will seek assistance from the authorities which leaves the question of how the case can be filed if the operators are hidden. The investigation can't also be started since where it is supposed to be should start.

These decentralized gambling platforms can also run away smoothly without being tracked. I know there's a contract to be executed so the bets are always secured but there are lots of things to do to initiate the trick of scamming.

It's good to be decentralized but I can't apply that to my gambling-related activity.

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I think decentralization is important and removes a lot of risk from a poor operator. However, there are some times when you want to be able to blame an operator. For example, if a decentralized casino gets hacked and all the funds stolen, you have no recourse at all. However, if a centralized service gets hacked and all the funds stolen, you can still sue them or hope that they have the funds in reserve to be able to make everyone whole again. Not saying that ever happens, but occasionally you see an exchange pay back hacked funds to users over time. So there are advantages and disadvantages to both.

Aniel Jay

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Let's get at how they operate first. Decentralized gambling offers greater anonymity and potential transparency, while centralized gambling may provide more oversight and security measures. The choice depends on individual priorities and preferences. At the moment I'm rooting for decentralised gambling.

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Quote from: Aniel Jay on March 22, 2024, 02:20:42 PM

It depends on individual preferences and priorities. Decentralized gambling offers greater anonymity and potentially lower fees, while centralized gambling may provide more regulatory oversight and security measures. So I prefer Decentralized gambling.

Do we have any good decentralized gambling options with us ? Even if they exist their fee will be much much higher as compared to the centralized gambling platforms. I think the gambling industry is yet to adopt and admit the decentralized nature of gambling and also the gambler's mindset needs to be shifted from the centralized trusted gambling platforms to the decentralized ones.

A lot of work needs to be done in Web 3.0 and its integration into the gambling industry. Until we get some solid good projects I will prefer centralized gambling and not take risks with the new decentralized platforms.

Topic: Decentralized vs Centralized Gambling....Which do you prefer? - page 3. (Read 1440 times)