At the end, it depends on the promotion, bonus, etc., since why would we want to play there if there are already many freebies in our regular casinos.
Topic: First decentralized Gambling Platform? - page 2. (Read 348 times)
I think it's another DEX softscam, as it is still centralized. You know the casino needs license and stuff, or they'll get deleted by the regulator, especially if they take bets from US citizens. But that's when the casino gets big enough (just like Binance's case). Well, at least if it uses smart contracts, we can be certain that the winnings will be paid (no withdrawal problem), assumed if it won't get hacked tho
At the end, it depends on the promotion, bonus, etc., since why would we want to play there if there are already many freebies in our regular casinos.
At the end, it depends on the promotion, bonus, etc., since why would we want to play there if there are already many freebies in our regular casinos.
I recently came across this news where BetDEX apparently made a public statement about how they would be launching *world's first decentralized Gambling Platform*
What do you think the whole hype is about, how would they be any different from the already existing gambling platforms working with Bitcoins and other cryptocurrencies?
What do you think the whole hype is about, how would they be any different from the already existing gambling platforms working with Bitcoins and other cryptocurrencies?
Gambling as a whole and especially online gambling are booming quite a bit since some time now and they got another massive push with the covid pandemic because people simply need something to do. So it is no big surprise, that we see a lot of new casinos coming up that try to get a piece of that big cake.
The claim of being the first decentralized casinos does not sound bad in times where cryptos are also pretty big in the media, but as a User you will not notice if the casino is decentralized or not.
The whole idea behind "decentralized" platforms is ...
1. Increased security ( A centralized platform is a easy target for DDoS attacks and hacks)
2. Freedom - Governments cannot take it down easily.
3. No Centralized control (A corrupt entity cannot influence decisions)
So is this "decentralized gaming platform" really decentralized if the owners are known and also the location of their operation? Can they be taken down? (yes) ...are they really free? (no)
1. Increased security ( A centralized platform is a easy target for DDoS attacks and hacks)
2. Freedom - Governments cannot take it down easily.
3. No Centralized control (A corrupt entity cannot influence decisions)
So is this "decentralized gaming platform" really decentralized if the owners are known and also the location of their operation? Can they be taken down? (yes) ...are they really free? (no)
With all these crypto gambling websites in our hands, I think that this isn't a big deal any longer, I mean what new could they offer in this established sector of cryptospace? If it's not that impactful, I think that we're going to see anything new or revolutionary. I might even go on extreme to say that this is just another kind of gambling platform no more, no less.
agreeing here , Gambling sites/flatform coming here and there almost everyday (Specially this end quarter) they are offering the same while others gives different .What we must understand here is in the end of the day this is still gambling and what they are offering is Losing money more than earning , so dealing with this is very risky no matter what, either centralized or Decentralized .
With all these crypto gambling websites in our hands, I think that this isn't a big deal any longer, I mean what new could they offer in this established sector of cryptospace? If it's not that impactful, I think that we're going to see anything new or revolutionary. I might even go on extreme to say that this is just another kind of gambling platform no more, no less.
The decentralized gambling platform on top of the Solana network is indeed quite eye-catching. This innovation may create new breakthroughs but I don't fully understand how they operate the gambling site that they will build early next year. Regardless of the innovation, in the future there will probably be more gambling that will follow the innovation much more optimally. It only takes good achievement and good judgment when gambling built on blockchain can make something different.
From the word "First decentralized gambling platform" I am personally amaze how these people had come up the idea of implementing it the earlier next year because I do think that implementing it may take a quite a long while, I didn't know how this might work but I find it interesting and exciting as a gambler. However, what's most eye-catching in the information that was shared was the project is built on top of Solana, this may not be gambling related but I think this will be a big breakthrough for Solana blockchain.
Interesting, it's something that could definitely pique interest but could also cause a pretty big backlash imo since it is one of the first to do so. I do want to see how they're going to implement a decentralized platform though, and how it's going to generally affect the experience of its users since if it doesn't really make that much change, it'd probably just die down and well, be a normal gambling platform that most know, even with its label containing the word "decentralized". Hope for the best for them though.
The decentralized gambling platform on top of the Solana network is indeed quite eye-catching. This innovation may create new breakthroughs but I don't fully understand how they operate the gambling site that they will build early next year. Regardless of the innovation, in the future there will probably be more gambling that will follow the innovation much more optimally. It only takes good achievement and good judgment when gambling built on blockchain can make something different.
Well, I see the launchment of BetDex decentralized casino is scheduled for 2022, but there is also XFUN (decentralized) Casino, from the same developers of FreeBitco.in, which is scheduled to be launched by the end of this year, featuring fully decentralized peer to peer sportsbook, casino games, social games and financial trading games.
There is going to be a lot of competition on this field and the most prepared, innovative and generous casino will prevail, for sure. However, if this category of casino is going to overcome the traditional ones that is another story which only time can tell.
There is going to be a lot of competition on this field and the most prepared, innovative and generous casino will prevail, for sure. However, if this category of casino is going to overcome the traditional ones that is another story which only time can tell.
They are not just very innovative these days but they also have funds, it's amazing to see they didn't even do an ICO. This is a race to more adoption to the decentralized platforms in many fields in crypto such as gambling and exchanges. If they have funds, they can engage in marketing also to compete with the centralized casinos which will really make all these fun. Maybe we will really see which will be preferred by users.
Well, I see the launchment of BetDex decentralized casino is scheduled for 2022, but there is also XFUN (decentralized) Casino, from the same developers of FreeBitco.in, which is scheduled to be launched by the end of this year, featuring fully decentralized peer to peer sportsbook, casino games, social games and financial trading games.
There is going to be a lot of competition on this field and the most prepared, innovative and generous casino will prevail, for sure. However, if this category of casino is going to overcome the traditional ones that is another story which only time can tell.
There is going to be a lot of competition on this field and the most prepared, innovative and generous casino will prevail, for sure. However, if this category of casino is going to overcome the traditional ones that is another story which only time can tell.
I recently came across this news where BetDEX apparently made a public statement about how they would be launching *world's first decentralized Gambling Platform*
Few things to note:
Integrating sports betting with blockchain technology.
They are going to launch it in early 2022.
This would be based in Scotland.
A quote from the article:
-They are even allowing third parties to build innovations and applications on the top of the platform.
**It's largest ever seeded investment by any uk startup**
Source: https://www.gamblinginsider.com/news/13914/betdex-raise-21m-to-launch-first-decentralised-betting-platform
What do you think the whole hype is about, how would they be any different from the already existing gambling platforms working with Bitcoins and other cryptocurrencies?
Few things to note:
Integrating sports betting with blockchain technology.
They are going to launch it in early 2022.
This would be based in Scotland.
A quote from the article:
Quote
The trio will offer a fully decentralised protocol built on the public blockchain, Solana, providing customers with fast and low-cost trades. It will allow third parties to build their own innovations and applications on top of the platform
-They are even allowing third parties to build innovations and applications on the top of the platform.
**It's largest ever seeded investment by any uk startup**
Source: https://www.gamblinginsider.com/news/13914/betdex-raise-21m-to-launch-first-decentralised-betting-platform
What do you think the whole hype is about, how would they be any different from the already existing gambling platforms working with Bitcoins and other cryptocurrencies?
If we are talking decentralized then you can look at wagerr. The downside is you can only use wagerr as you essentially bet against the chain. If you win the blockchain mints new coins and if you lose those coins are burned. Honestly it's pretty revolutionary yet no one knows about it. Technology works and by nature total supply should continually shrink.
how would they be any different from the already existing gambling platforms working with Bitcoins and other cryptocurrencies?
Much of the US gambling market was bought out and consolidated by wall street investors around 2018.
Significant shifts in the gambling industry have occurred as a result. Its much more common now for sportsbooks and casinos to ban gamblers who win.
Winning gamblers are a niche market who are not being catered to. They might succeed in attracting a significant portion of the market who are banned on other platforms for having won a bet or two.
If the decentralized apps their platform supports can be developed around a shared sportsbook codebase with its own api that could be yet another innovation with potential.
They are not the first decentralized gambling but they are looking forward to being the most popular ‘world’s first decentralized betting platform’, combining sports betting with blockchain technology, with 21 million dollar funding they have to do it and for new players that only play in centralized gambling this is something new.
Quote
“..... we will successfully compete against incumbents with a markedly superior product and low fees, which is now possible with the advent of the blockchain technology. Winners will always be welcome on our protocol.”
we'll have to see this first and see if there will be no flaws in the operation. 
So it hasn't been launched and they are looking for funds to launch it? Others over here have stated there are already decentralized gambling platform, so them claiming to be the first is somewhat misleading. Maybe they meant something else, but if they really claiming to be the first one, then no one should trust them. Even decentralized projects can scam people. And I don't think anyone would want to use a decentralized gambling platform and I don't think any government would be happy to see one. All I can think of is how easy things would be for money launderers.
For now, most decentralised platforms built for a variety of purposes such as trading, lending, etc... have not gotten a level of professionalism as the ones that are actually run by a company or similar entity. It is a sad truth, but when something belongs to everyone, no-one in particular seems to take enough care of it. Let's see how the promises of low fees, decentralisation and innovation materialise, yet I am not expecting a revolution there.
This would be based in Scotland.
So from that point we can state that this gambling site will not be decentralized
EU laws very strict to gambling activity in term of license, KYC, promoting ads etc. They will not allow any nonKYC or decentralized solutions on their territory. So I'm sure that such service before allowing you to do a bet on a decentralized site will ask you a KYC procedure
I think that is a misleading statement. They are not the first.
Seems like another project that has nothing but vaporware but has managed to get a bunch of funding.
I highly doubt that they will be able to disrupt the market. Many have tried, but the casino industry is just as much about the publicity and market as it is with the actual product.
Seems like another project that has nothing but vaporware but has managed to get a bunch of funding.
I highly doubt that they will be able to disrupt the market. Many have tried, but the casino industry is just as much about the publicity and market as it is with the actual product.
I recently came across this news where BetDEX apparently made a public statement about how they would be launching *world's first decentralized Gambling Platform*
Few things to note:
Integrating sports betting with blockchain technology.
They are going to launch it in early 2022.
This would be based in Scotland.
A quote from the article:
-They are even allowing third parties to build innovations and applications on the top of the platform.
**It's largest ever seeded investment by any uk startup**
Source: https://www.gamblinginsider.com/news/13914/betdex-raise-21m-to-launch-first-decentralised-betting-platform
What do you think the whole hype is about, how would they be any different from the already existing gambling platforms working with Bitcoins and other cryptocurrencies?
Few things to note:
Integrating sports betting with blockchain technology.
They are going to launch it in early 2022.
This would be based in Scotland.
A quote from the article:
Quote
The trio will offer a fully decentralised protocol built on the public blockchain, Solana, providing customers with fast and low-cost trades. It will allow third parties to build their own innovations and applications on top of the platform
-They are even allowing third parties to build innovations and applications on the top of the platform.
**It's largest ever seeded investment by any uk startup**
Source: https://www.gamblinginsider.com/news/13914/betdex-raise-21m-to-launch-first-decentralised-betting-platform
What do you think the whole hype is about, how would they be any different from the already existing gambling platforms working with Bitcoins and other cryptocurrencies?
Cool and congratulations on raising so much funding for the project. However, I don't see anything special. We will see what the final product will be, but in my opinion it will not be too different from other casinos built on the blockchain.
I'm pretty sure that there has been quite a few decentralized crypto casinos already, including prediction markets.
Augur is probably the best example of this.
While this is certainly a noble cause, what matters is if they can actually attract revenue to the blockchain. I doubt this will happen just because of the fact that people prefer the convenience of centralized alternatives right now.
Augur is probably the best example of this.
While this is certainly a noble cause, what matters is if they can actually attract revenue to the blockchain. I doubt this will happen just because of the fact that people prefer the convenience of centralized alternatives right now.
Exactly, EOSBet, etc. have also come into existence in the past.
Very dishonest for them to claim that they are the first mover when they clearly are not.
But hey, you gotta do what you need to do in order to secure that $20m+ funding right? Who is even investing in this stuff, lol.
They are definitely not the first decentralized gambling platform. I am certain, some forum users here already encountered several of these decentralized gambling platforms. But yes, to attract investors, they need to impress them that they are the first but they are not. With their good funding, let us see if they can truly attract gamblers. Because as of right now, centralized casinos are preferred by most players, even if there are several benefits using a decentralized one.
I'm pretty sure that there has been quite a few decentralized crypto casinos already, including prediction markets.
Augur is probably the best example of this.
While this is certainly a noble cause, what matters is if they can actually attract revenue to the blockchain. I doubt this will happen just because of the fact that people prefer the convenience of centralized alternatives right now.
Augur is probably the best example of this.
While this is certainly a noble cause, what matters is if they can actually attract revenue to the blockchain. I doubt this will happen just because of the fact that people prefer the convenience of centralized alternatives right now.
Weren't the casinos like Satoshidice and a few others in past were decentralized?
Surely they were regulated by any government aside from their server which was located in Europe if I'm not wrong.
And what about those sites that used to allow users to place bets on blockchain block's ending letter.
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