Topic: Decentralized vs Centralized Gambling....Which do you prefer? - page 8. (Read 1424 times)

Call me crazy or something else, the truth is why would anyone want to create a decentralized gambling platform anyway? It makes no sense to me because I will like to ask the person what they are hiding from, running a casino isn't a currency like Bitcoin, that decentralized idea isn't just adding up for me.

Even if any decentralized gambling platform exists, there is no need for me to use them, it's gambling, something everyone does, something the government are in full support with, something that it's also located offline and people do it from time to time, why the need for decentralization in this space?

I will be suspicious of any online gambling platform that are decentralized, they might be ruining some illegal things behind the scene, there is no need to go decentralized if all their existence is all about giving gamblers good services that they deserve, why decentralization?

Personally, I have never found truly satisfactory projects in a decentralized environment. Very often I have seen a series of defects that are difficult to overcome (e.g. very high volatility, limited market depth, insufficient volumes)

It's a long shot and I don't think it will happen, based on how the gambling community adopted the centralized gambling more than the decentralized platform.

Some of the causes are :

 *These decentralized platforms are smart contract-based, and gamblers have second thoughts about connecting their wallets to a platform that is not audited by
    reputable smart contract auditors like Certik.

* Centralized platforms are more regulated and compliant and they have more games since the majority of gaming software caters to centralized exchange

* Because of the anonymous nature of decentralized platforms, it lack regulations that could exploited abused, and used by cyber criminals.

Of course, between centralized gambling and decentralized gambling, decentralized gambling is more acceptable.  Centralized gambling must have all the control systems with the third party where the user cannot do anything if he wants, on the other hand decentalized gambling must allow the user to participate in gambling using the Dapp at his own will.
However, if centralized gambling withdrawal and deposit fees are lower than decentralized gambling, then surely users will pay more attention to centralized gambling and want to use it.

Most people don't care with decentralization, similar to Bitcoin, all they care is the money.

The true decentralized casino won't give you any benefit, except you gamble using their native token because they can do anything they like if they have full control over the token.

In centralized casino, they can give many promotions e.g. rakeback, odds boost, bonus buy, welcome bonus, etc.

For me, decentralized gambling is new... I didn't know it yet.

Can you share information about this? What platforms have you been using? The most "decentralized" I went to was Polymarket.

This issue of decentralized betting is very interesting and opens up a range of options for those looking for privacy.

I don't prefer any, I mean if I can enjoy and take advantage of both centralized and decentralized gambling then why not? As gamblers we shouldn't distinguished any unless you are really that old school and prefer the traditional way and so doesn't want to play dApps as you are not that comfortable.

Might be good if you have a poll? So that we can gauge as what the players are looking into right now.

But in any case, again, I don't see anyone replacing, it's the same market after-all, and you have to think why they are a lot of gambling platforms today? it's because of the huge billion that they can take in and so there are plenty for everyone here.

Wait, wait...

What is a decentralized gambling? Are they not casinos that relies on cryptocurrency transactions instead of the old traditional way? Now how is this decentralized? Because almost all online casinos are accepting USDT, Tron, and many centralized crypto coins, the only decentralized one is Bitcoin, can we really say that they are true decentralized? I don't think so.

To me every online casinos are centralized, having crypto payment option doesn't make them decentralized, they are all regulated and that's why we use them, and been regulated means they have all legal papers in place, no government can go after them for illegal operation, this makes them 100% centralized.

If you are looking for a real decentralized casino, they will operate anonymous and illegally, as a casino you need to be registered, if not, it's been run illegally, it's not safe to have your money gambling on such places, this is not Bitcoin, Always remember that.

Does anyone know any good decentralized casinos? I don't know. I only know a few and they don't have good UI/UX design and also they don't have good games, it's very boring to play on decentralized casinos because there are only dice and similar games and you miss the fun of slots, poker, live roulette, live blackjack and etc...
Centralized casinos, like Bitsler, Stake, Roobet, Duelbits and many more, offer you a very thrilling experience with very beautiful and elegant UI/UX design, with lots of features, tons of games and etc. It's very hard to beat centralized gambling these days.

There is smart contract risks available on the decentralized way of gambling and there is none on the centralized way of gambling, they are both good but centralised ones will always be peoples favourite, just send your bitcoin or Tron to a casino account and have some fun, viola.

I know about decentralized gambling platforms but I don't use them, been decentralised as a casino doesn't sit well with me, just because I don't see any reason why I will want to use them, it's like trying to cover something that's not needed to be covered.

I know that experience is the most important thing here, and if any casino or gambling platform can deliver this very neatly then nothing else matters, something as easy as centralized gambling platform just suits my need, no need for getting things more complicated.

If a decentralized casino still needs to register and obey their local registration, and at any given time they can freeze somebody's account I'd think they are still a centralized casino. I second the opinion that using a smart contract doesn't necessarily mean you're a dex, especially if those smart contracts can be changed and the law of the game can be edited without any verification from an outside party. I guess this doesn't really apply if you're betting on football or any kind of sport that doesn't use math to decide which one wins the game. Other than that though, it is difficult to prove if something is fair which is the key to a decentralized casino IMO. Other than that, the ability to register or delete an account should be counted as factors that decide whether we can call it a decentralized one or not.

As for fees, I think it will likely solve itself with the existence of layer 2 and other scalability solutions on ETH or other chains. They can also improve how smart contract calculation works to reduce the fees and so on. It is a bit weird that fees are a major turn-off for most people, I guess they don't think the trade-off between privacy, security, and reliability is worth it right now. CMIIW.

Even to date many people still prefer physical casinos. Decentralised casinos would attract its customers and get its market share. There will always be people who will be loyal to centralised casinos and will never use decentralised ones. Therefore, both of them will operate side by and none will replace any.

I have never gambled on a decentralised casino but it will be nice to try them. But I am concerned about how they are controlled. Almost all centralised casinos have to operate under a license which gives gamblers some level of confidence in the gambling firm. Sometimes these licences show to a large extent that these casinos can be called to order by the licensor if they derail from the provisions of the licence. I am wondering which agency guides the operation of these decentralised casinos. 

It's like asking someone "What fruits do you prefer? Apples or Bananas?" or "What kind of girls do you prefer? Brunettes or blondes?"
Why not both? I think that decentralized gambling is the future, mostly because the gamblers won't have to deal with KYC and all the sneaky casino tricks, that block them from withdrawing their profits(somebody might even call it "scams"). Centralized gambling is still way more convenient than decentralized gambling, but I'm sure that this will change soon. Several years ago, some people were thinking that ETH will beat BTC because of the low transaction fees and low confirmation time. I wonder what do they think about the Ethereum blockchain right now.

I think the trend of Decentralizated using Blockchain will be the future trend. Not only the gambling sector, but every other financial and economic sector will also shift to this trend. We can see how the Defi trend has grown strongly in recent years, and it could replace banks in the future in certain aspects. I also really like participating in games or gambling on decentralizated platforms, especially on Ethereum's L2, which both ensures safety and security and has very cheap fees. Compared to centralized gambling services, it clearly has many outstanding advantages such as we can manage our own money, everything will be more transparent, and unnecessary intermediary costs will be eliminated.

People always want someone to blame when there is a failure in the system and if they want support about the network, they wanna talk to someone about which centralized platform is their choice. 

There may still be support in the decentralized gambling platform but all they can tell is how the system works. I'm not sure if they could even give your money back if there ever was a loss due to the system failure. But I'm sure they could track the causes and will give you tips not to do it again.

But are the decentralized casinos more fair than the centralized ones?

I read about this the other day: after the Merge, now comes the Surge, the second phase in the new roadmap.

I've never tried decentralised gambling on Ethereum because of the fear to pay high fees. I tried a few DApps in other blockchain like ICX with very low fees and I think that achieving that in the Ethereum network can be a game changer. After the successful case of use to fund new projects (the ICO fever) we might see a second surge (never better said) with DApps, especially for gambling.

The fact that a game is built with a smart contract is not enough to call a casino decentralized because the guys who generate that smart contract are the ones who create the rules of the game and the ones who will get profit in the long run. I don't see what doesn't have of decentralized. I mean the community can't change the house edge, that would be a good example of how a decentralized project works.

For me, all of them are centralized, but they use different technologies to operate, that's all.

I believe that the decentralized market can bring more possibilities for games, etc. But nothing that centralization cannot also bring. The important thing is that it is healthy for everyone. But in my view, decentralization still has a long way to go to reach centralization.

You can always verify the smart contract's code to determine if it's safe. That's assuming you have some level of technical knowledge (particularly in programming). If you don't, you'd need to make sure smart contracts were audited by a reputable security company before launch. I know decentralized gambling is far from perfect, but it's a good alternative for those living in countries where online gambling is illegal.

As far as I know, gambling dApps don't require KYC. However, you can get flagged or traced by the government within the Blockchain itself. That's because most blockchain networks with smart contract capabilities don't have built-in privacy features. I'm talking about Ethereum, BNB, Solana, and the likes. Maybe developers will solve this by making use of ZKPs (Zero Knowledge Proofs)? Until then, centralized gambling would be the preferred choice of many gamblers. Just my thoughts

For now, I believe I prefer to gamble in centralized casinos which have been able to accumulate a very good reputation through the years, they also have managed to accumulate a very good liquidity so there is no problem with withdrawals whatsoever. I am not completely closed to the idea of decentralized casinos or decentralized gambling platforms, but I believe there is still many things to do for those casinos run by smart contracts to become a very reliable alternative when compared to centralized or classic casinos. One of the main issues I have with decentralized casinos is how they could be vulnerable to hacks, in the same way Decentralized finance protocols have been vulnerable before, the same thing could happen to those casinos, hackers are always looking for mistakes or weak points in the code left behind by programers; when comes to big centralized casinos with enough liquidity, one can assume they have much of their budget dedicated to cyber security and even if some hacking happens, their volume of bets/gaming would allow them to refund their gamblers easily.

Some people could argue that decentralized casinos are better because one could see the code running the games, however, casinos like Stake already have ways to check the provably fairness of their games using our seed.
In the future, I expect to see some more appealing options to gamble in a decentralized way, until then I will stick close to what I already know and has worked for me.