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Topic: Decentralized vs Centralized Gambling....Which do you prefer? - page 4. (Read 1440 times)

hero member
Activity: 1316
Merit: 407
🌀 Cosmic Casino
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.
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
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
hero member
Activity: 1316
Merit: 407
🌀 Cosmic Casino
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.
sr. member
Activity: 697
Merit: 253
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.
legendary
Activity: 2632
Merit: 1883
Leading Crypto Sports Betting & Casino Platform
The bad thing about the decentralized casino will be that it will only practically accept crypto. So, a good and innovative idea would be a p2p casino that accepts fiat and crypto, where the entire process is facilitated, thus allowing more people to have access to betting.
If you're talking about fiat money and not stablecoin, wouldn't that mean the government will likely step in and force them to implement KYC? Even if the casino somehow found a payment gateway that doesn't follow regulatory rules, or allows anonymous users to deposit fiat, wouldn't that be very risky for the players since there is a chance they will need to do KYC if some troubles pop up? I see this happens with some "decentralized" swap platforms, I believe it will happen with casinos or other platforms if they intend to use fiat directly. Besides, if the goal is privacy, I don't think this downside is a deal breaker for them. CMIIW.


I believe the point here would be P2P. The platform would have P2P to take fiat currencies and exchange them for crypto. Some p2p will not report anyone because it is not advantageous. So in my view, the platform would intermediate this fiat p2p and would also accept crypto for games, etc.
Well, always being able to enter a Gambling platform with a system that accepts fiat and crypto money is something that is great, generally things that are done like that can mean a lot to some people, but that can mean doing things with less money and from wallet to wallet, in the case of fiat money, it can be understood with deposits and transfers between their banks, so that can be a better way to see things, but as long as it is done in a decentralized way, The benefits of Decentralized casinos are many, but if they stick to doing things like that, centralized casinos will always have their advantages, faster support, but the bad thing is the constant case of mandatory KYC, that is the most Uncomfortable thing about this, For that reason I think that the decentralized casinos will begin to float a little more, well at least that's what I can guess.
sr. member
Activity: 546
Merit: 309
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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.
Yes reputation is the most important thing, gambling site is centralized or decentralized it is not a big issue. Because doing KYC on a reputable site is not a problem, but on a new site, even if you give a chance to gamble without kyc, there is a lot of risk. there will be no problem of creating an account on the decentralized casino site because the site can be used only by connecting a wallet from the Dapp. But still I don't like it. Centralized exchange seems comfortable enough to me. so I am not thinking about decentralized casino sites now.
hero member
Activity: 2702
Merit: 672
I don't request loans~
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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.
sr. member
Activity: 1708
Merit: 295
https://bitlist.co
Previously, I used to play offline more commonly, but when crypto became more popular, I started looking for some decentralized services to experience. Although in terms of scale, they are still too small compared to the market share of gambling, but for personal purposes, I think it meets the needs.

There are a few familiar names in the crypto space in terms of gambling, but they have never become a major force, and there are still some legal constraints that still exist, so there is promise in this field lots of exploitation potential.
hero member
Activity: 1316
Merit: 407
🌀 Cosmic Casino
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.

Indeed, the possibility of a centralized bookmaker is much greater, as it involves more cryptos and fiats. However, decentralization will be limited to cryptos and their processes.
hero member
Activity: 2926
Merit: 722
DGbet.fun - Crypto Sportsbook
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.
I dont believe much about having that less fees because everything would really be that depending on the network. I've seen back in the past on having that Decentralized lotto on which in every bet you would be make then you would really be needing to push up a transaction on which means that it would really be costly if you do make transactions back and forth.Whereas, you would really be able to avoid all of these things on the time that you would be making use of centralized ones. Yes, it would really be totally opposing about decentralization on which this is something that we must really be tending to adopt or choose
but we cant really be able to deny that when it comes to comfort and accessibility or overall experience then nothing beats out on dealing up with those centralized casinos on which i could say that
this is something more better.
jr. member
Activity: 65
Merit: 2
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.
hero member
Activity: 1316
Merit: 407
🌀 Cosmic Casino
The bad thing about the decentralized casino will be that it will only practically accept crypto. So, a good and innovative idea would be a p2p casino that accepts fiat and crypto, where the entire process is facilitated, thus allowing more people to have access to betting.
If you're talking about fiat money and not stablecoin, wouldn't that mean the government will likely step in and force them to implement KYC? Even if the casino somehow found a payment gateway that doesn't follow regulatory rules, or allows anonymous users to deposit fiat, wouldn't that be very risky for the players since there is a chance they will need to do KYC if some troubles pop up? I see this happens with some "decentralized" swap platforms, I believe it will happen with casinos or other platforms if they intend to use fiat directly. Besides, if the goal is privacy, I don't think this downside is a deal breaker for them. CMIIW.


I believe the point here would be P2P. The platform would have P2P to take fiat currencies and exchange them for crypto. Some p2p will not report anyone because it is not advantageous. So in my view, the platform would intermediate this fiat p2p and would also accept crypto for games, etc.
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
The answer is simple, people want things to be free and that's more reason why you see that despite the emergence of decentralized exchanges, people still preferred centralized exchanges. The only time you see people using decentralized exchange is when they know they can benefits from it like when meme coins were trending, lots of people tend to use decentralized exchanges just like the Solana reach highest volume on it's Dex this year and that's as a result of meme demand.

Casino are not different from this, Ethereum been the most popular is going to be a failure because of the high fees, you can't imagine wagering a game and then you are required to pay $10 for a fee to interact with a smart contract. People will lose interest unless there is something unique about the casino. I'm not sure whether even me I will do such kind of transaction for gambling, imagine wagering multiple times when you have only $100 for playing that session.

I understand people want to save as much money as possible. That's where Layer-2 scaling solutions come in. Gambling dApps can stay decentralized and cost-effective by operating on an L2 network of their choosing. Only developers of smart contracts can decide whenever they'd want to keep running their dApp on the main Blockchain or a separate, off-chain (L2) scaling solution. This is only the beginning. So, I'm confident gambling dApps will rival their centralized counterparts in the future. The sky is the limit to how far decentralized gambling will go.

It's hard to believe centralized casinos will go away after being on the industry for decades. They will remain the dominant force of the gambling industry due to their high liquidity, greater accessibility, and better user experience. The future is unpredictable, so we can only hope for the best. Grin
sr. member
Activity: 1498
Merit: 271
DGbet.fun - Crypto Sportsbook
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.

legendary
Activity: 1162
Merit: 2025
Leading Crypto Sports Betting & Casino Platform
When crypto becomes more popular like now, it seems it's hard to finds where we can playing gambling without KYC. When we can get one casino that doesn't apply KYC too strict, that's just beginning because when the casino grows and becomes popular, the government will takes on their eyes to that casino and will ask them to used KYC for their members. That's why we can only follow what's the rules for every casino and if we don't comfortable with the rules, we can try to search for the other casino.

Make sure you can playing gambling at the trusted casino, popular, have a good reputations so you don't have to worry if something bad happens. The governments now searching for the crypto business and trying to controls them so crypto business can just follow their rules.

It's no surprising that governments got its hands tied in all things crypto. Strong regulations forced most online casino operators to comply with KYC/AML standards. But rules don't apply to decentralized casinos. Especially if the creator is anonymous. The gambling dApp can't send profits to its creator for this to work.


The bad thing about the decentralized casino will be that it will only practically accept crypto. So, a good and innovative idea would be a p2p casino that accepts fiat and crypto, where the entire process is facilitated, thus allowing more people to have access to betting.

Though I am not sure how a decentralized casino could accept deposits in FiAT in a practical way. Because most of the FIAT payment processors and banks are obviously centralized systems where people is supposed to trust their money in, unlike with cryptocurrency wallets and smarth contracts, which allow people to verify code and have a personal set of cryptographic keys.
Since we are talking about accepting Fiat for deposits and wager in online casinos, I am almost sure those who are interested into using Fiat will be enjoy enough to simply use stablecoins as a substitute for bank deposits.  You know, originally stablecoins were supposed to be a way for traders to access liquidity in the market and convert their Bitcoin and alternative currencies into a pegged token, but since their introduction those tokens have evolved into a pseudo-decentralized payments methods.

In the end, stablecoins are a solution for those casinos which try to be as decentralized as possible. It would be weird to sign up on a casino which is supposedly decentralized and yet, asks us to make bank transfers with Fiat.
legendary
Activity: 2170
Merit: 1789
The bad thing about the decentralized casino will be that it will only practically accept crypto. So, a good and innovative idea would be a p2p casino that accepts fiat and crypto, where the entire process is facilitated, thus allowing more people to have access to betting.
If you're talking about fiat money and not stablecoin, wouldn't that mean the government will likely step in and force them to implement KYC? Even if the casino somehow found a payment gateway that doesn't follow regulatory rules, or allows anonymous users to deposit fiat, wouldn't that be very risky for the players since there is a chance they will need to do KYC if some troubles pop up? I see this happens with some "decentralized" swap platforms, I believe it will happen with casinos or other platforms if they intend to use fiat directly. Besides, if the goal is privacy, I don't think this downside is a deal breaker for them. CMIIW.
hero member
Activity: 1316
Merit: 407
🌀 Cosmic Casino
When crypto becomes more popular like now, it seems it's hard to finds where we can playing gambling without KYC. When we can get one casino that doesn't apply KYC too strict, that's just beginning because when the casino grows and becomes popular, the government will takes on their eyes to that casino and will ask them to used KYC for their members. That's why we can only follow what's the rules for every casino and if we don't comfortable with the rules, we can try to search for the other casino.

Make sure you can playing gambling at the trusted casino, popular, have a good reputations so you don't have to worry if something bad happens. The governments now searching for the crypto business and trying to controls them so crypto business can just follow their rules.

It's no surprising that governments got its hands tied in all things crypto. Strong regulations forced most online casino operators to comply with KYC/AML standards. But rules don't apply to decentralized casinos. Especially if the creator is anonymous. The gambling dApp can't send profits to its creator for this to work.


The bad thing about the decentralized casino will be that it will only practically accept crypto. So, a good and innovative idea would be a p2p casino that accepts fiat and crypto, where the entire process is facilitated, thus allowing more people to have access to betting.
hero member
Activity: 952
Merit: 552
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. Smiley

The answer is simple, people want things to be free and that's more reason why you see that despite the emergence of decentralized exchanges, people still preferred centralized exchanges. The only time you see people using decentralized exchange is when they know they can benefits from it like when meme coins were trending, lots of people tend to use decentralized exchanges just like the Solana reach highest volume on it's Dex this year and that's as a result of meme demand.

Casino are not different from this, Ethereum been the most popular is going to be a failure because of the high fees, you can't imagine wagering a game and then you are required to pay $10 for a fee to interact with a smart contract. People will lose interest unless there is something unique about the casino. I'm not sure whether even me I will do such kind of transaction for gambling, imagine wagering multiple times when you have only $100 for playing that session.
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
When crypto becomes more popular like now, it seems it's hard to finds where we can playing gambling without KYC. When we can get one casino that doesn't apply KYC too strict, that's just beginning because when the casino grows and becomes popular, the government will takes on their eyes to that casino and will ask them to used KYC for their members. That's why we can only follow what's the rules for every casino and if we don't comfortable with the rules, we can try to search for the other casino.

Make sure you can playing gambling at the trusted casino, popular, have a good reputations so you don't have to worry if something bad happens. The governments now searching for the crypto business and trying to controls them so crypto business can just follow their rules.

It's no surprising that governments got its hands tied in all things crypto. Strong regulations forced most online casino operators to comply with KYC/AML standards. But rules don't apply to decentralized casinos. Especially if the creator is anonymous. The gambling dApp can't send profits to its creator for this to work.

With no one to hold accountable for, gamblers can place their bets in a decentralized casino without the need for KYC. I know it's hard for this to become a reality. But not impossible. Considering that centralized casinos still dominate the gambling industry, we should expect decentralized alternatives to become a niche to gamblers. At least, people have a choice. Cheesy
hero member
Activity: 1316
Merit: 407
🌀 Cosmic Casino
Was it always about pleasing the regulators? Bitcoin was created as the anti-thesis of Fiat (national currencies). Its creator was a libertarian and cypherpunk. So if developers are interested in making the crypto industry truly-decentralized, they should look for what's best for the people. Not the regulators.

I'm afraid it's already too late, especially when governments are deep in the craze. To make matters worse, most developers have publicly-known identities. It's easy to catch them if governments want to enforce regulatory action on so-called decentralized apps or blockchains. In the gambling industry, the number of truly-decentralized casinos are rare. I'm fine with that as long as people have the option to gamble without KYC. Expect centralized casinos to dominate the industry for as long as it lives. Cheesy
When crypto becomes more popular like now, it seems it's hard to finds where we can playing gambling without KYC. When we can get one casino that doesn't apply KYC too strict, that's just beginning because when the casino grows and becomes popular, the government will takes on their eyes to that casino and will ask them to used KYC for their members. That's why we can only follow what's the rules for every casino and if we don't comfortable with the rules, we can try to search for the other casino.

Make sure you can playing gambling at the trusted casino, popular, have a good reputations so you don't have to worry if something bad happens. The governments now searching for the crypto business and trying to controls them so crypto business can just follow their rules.


I believe the opposite, the more people who join betting in general, the easier the process will be. Because you will want to have as many good things as possible there, so you need to make it easier for them to enter.
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