Topic: Do the Bitcoin casinos are based on blockchain? - page 3. (Read 922 times)

Bitcoin casino are simply that you are transacting with bitcoin to the casino site, account or something, it might not be decentralized because it can be monitored and its outcome can be manipulated.

Provably fair was created because of some people think that they are being cheated by the gambling site. We have different verifiers in order to verify that the dice that you rolled was not cheated.

You can try and check the verifier here if you feel aggrieved https://dicesites.com/.

You should understand the different between Bitcoin casinos and blockchain casinos.

Bitcoin casinos are betting sites that accept Bitcoin, simple as that. Just because a site accepts BTC doesn't mean the transactions (payments and withdrawals) are decentralized.

Blockchain casinos, on the other hand, are betting sites whose payments/withdrawals are done wallet-to-wallet. And those which we call "dApp casinos" which run based on smart contracts are those that now revolutionize online betting in a fully decentralized manner.

I don't think so bitcoin casino's are not operated on the blockchain and the name is not in any way related to bitcoin other then acceptance of bitcoin as a form of payment on the platform I gues bitcoin casino is the same as the old paper faint casino.

As of now there isn't much bitcoin casinos on the blockchain technology. Everything is developed on the common scripts with their own house edge preferences. Recent days there were more focus towards the development of bitcoin casinos on blockchain platform, as suggested it'll provide next level of transparency to the users.

Bitcoin casinos not so based on blockchain but  blockchain technology will bring a new level of transparency and fairness to the gambling sites or industries.Now many gambling sites use their own way to mdeposit and withdrawa.   

There are very few online casinos right now that uses blockchain tech though I hope more will arise. It's because blockchain casinos are a lot better than traditional casinos in terms of transparency, information security, operational costs, and accessibility. Traditional casinos have many hidden tricks that gamblers are unaware of. Also, many casinos take gamblers' personal informatioin and these include but are not limited to debit&credit card details that can leaked when not secured 100% but with blockchain, these data is secured more safely. Plus, the operational of online casinos are a lot lower than traditional casinos.

In short, blockchain casinos are therefore safer, easier and better than traditional online casinos.

Can't they make use of blockchain tech for the transparancy of the game?

Most online casinos I know just use cryptocurrency as payment from e wallet.

There are also ones that basically roll the dice according the last digits and all that but that is pretty old school. I remember satoshidice on its very earliest days where you have to send money to a wallet specifically for the % of odds you want to bet on and you got it back with profit depending on what the hash was for that transaction.

Literally, the hash for your sent transaction was the result of the bet as well, easiest way to check if you win or not, simpler times. Of course, that required for you to send money and receive money which was both heavy on fee and wait times each time you bet compared to less than a second it takes now when its off-chain but its was still more trustworthy that way, you didn't had to do seed checking and all that. I miss the good old days.

If I get you right, I think for now you can only play casinos using crypto currency as form of payment though we have few casinos that are based on blockchain technology but most of the ones I have got myself engaged in so far only offer crypto as means of payment just like the normal traditional currencies.

Some casinos are using block's hash as references as it will not be manipulated by casino hence it will be open to check for anyone for proving fairness. Other than this I am not sure about in how other ways, a casino may make use of blockchain like storing some gambler or gambling related data which is never need to be fortified by anyone like that.

Its great to have this plinko back again but it seems that luckyb.it is not that active anymore compare to the current time. I saw many big winners coming from that site and it is pretty good to keep that up to date. But due to the support team, I do not think they have a good management of their thread so the only player that play there are the old player. They can't gather a new one

There are not many on-chain games left, the only i know about is luckyb.it, it was and is a great gambling site just that their minimum bet raised considerably since the worth of fees nowadays.

Having a decentralized transaction is way better than fiat casino which is visible. I agree, EOS was a good platform and it can verify all of the transaction in the blockchain. It all depends on the transaction, so if I were you, I'll choose the better one.

It is not really THAT complicated, a fiat casino is the one that takes fiat and not accept crypto, the crypto one is the one that takes crypto but not fiat, the blockchain one takes crypto but also run by blockchain itself without actually relying on a websites coding. So all in all its pretty clear distinction between all of them.

Here, if we have to talk about what "based on blockchain" means either it means something like eosbet where it is purely based on blockchain without a central organization changing whatever they want whenever they want and just let it run on blockchain technology or basically almost all decent dice websites that run on their own servers but makes sure they have provably fair which could be checked with blockchain technology to prove people casino is not scamming them.

A lot has been partially mentioned by other members, but I want to make a summary and add something new as well. There are different kinds of casinos. Some are just accepting payments in cryptocurrencies, so they are not based on blockchain. Other Bitcoin casinos have a provably fair algorithm which as far as I understand requires a blockchain to work, since it used cryptographic hash: https://bitcoinchaser.com/provably-fair-gambling/. There are also Ethereum-based casinos that operate on smart contracts and can also be counted as blockchain-based ones. There one can be 100% sure that the payments will be made in case of winning, because they will be performed automatically by the contract.

I guess that sportsbook is directbet since they're the only popular sportsbook that was constantly sending transactions in and out on every bet.

We can verify our bets on stake but they don't run on blockchain though if i'm wrong with what i've said then we should be able to check each bet through the blockchain.

Majority of the casinos are not based on Blockchain. i.e every results of your bets are determined using random tools. Cryptos are used for payment. But, there are casinos which works on chain ie every rolls placed through their smart contracts on the blockchain. So, the bets are provably fair. EOS and Tron based dApps offer decentralized gambling. Recently EOSbet started Bitcoin wagering on their blockchain.

There's some confusion as to how a casino becomes a bitcoin casino, a fiat casino, or even a blockchain casino.

To simplify things, we can look at this matter this way:

1. Originally, the industry had fiat money-only casinos (which means only USD, EUR, etc. are accepted)

2. When Bitcoin entered the scene, the industry started to have Bitcoin-accepting casinos (which accepts BTC, ETH, etc. but still follow KYC/AML and do not run on the blockchain)

3. When Bitcoin became popular, fiat money-only casinos/betting sites started to accept cryptocurrencies as a payment method, thereby creating a new type: hybrid casinos (accept both USD, etc. and BTC, etc., still follow KYC/AML, and do not run on the blockchain)

4. Then there are online casinos that accept cryptos and offer provably fair, proprietary on-chain games (e.g. dice, table games). Many regard this type as the real Bitcoin casino or aptly called crypto casino that run on blockchain

Keep in mind also that not all online casinos that offer provably fair games accept crypto and/or run on the blockchain.
BGaming, for example, is a game developer whose games are provably fair. But you'll find BGaming titles in casinos with KYC, etc. Yet, those casinos are not on the blockchain.

To go back to OP's question: not all the casinos we call 'bitcoin casinos' are based or run on blockchain.


Hope this helps,
BestBitcoinCasino.com

That is why Eos and Tron based casinos are getting popular now and this adds to Eos popularity in the market, I have participated in one Eos campaign about gambling and I'd like how they make the betting very transparent soon we will see a lot of EOS based casinos but still people want to get paid in Bitcoin.