Back to the main subject, I have a question: can anyone give a clear definition of what is exactly a web3 casino? I read all the of the above replies and it seems that we are arguing about something that we don't even know what it is!
As per my experience, any casino which allows logging in via metamask or any other wallet that supports walletconnect, claims it is a web3 casino. Is this right?
Topic: What is a web3 casino for you? - page 2. (Read 1201 times)
Many are tossing the term "web3" around like a hot trend, but they're missing the technical nuts and bolts that make it a real web3 gig. And just being decentralized isn't the full story.
A legit web3 casino would be working with blockchain tech, smart contracts, and tokens to make a secure, totally transparent gaming space. But let's be clear, just 'cause these features aren't there doesn't mean a casino is dodgy. Many long-standing online casinos run fair games and keep things secure without these tech goodes.
The main headache web3 casinos are dealing with is getting past all the rules and red tape. Because web3 is all about being anonymous and decentralized, it's tough to square this with the tight KYC rules governments set. It's a tough nut to crack and the industry's got its work cut out as it keeps moving forward.
There basically aren't a lot of decentralized gambling platforms around at the moment that calls themselves web3 casinos, but as you said, it seems like the trend will die even before it is properly utilized by both businesses and players because governments will barely allow any platform to operate without complying with their rules and regulations.A legit web3 casino would be working with blockchain tech, smart contracts, and tokens to make a secure, totally transparent gaming space. But let's be clear, just 'cause these features aren't there doesn't mean a casino is dodgy. Many long-standing online casinos run fair games and keep things secure without these tech goodes.
The main headache web3 casinos are dealing with is getting past all the rules and red tape. Because web3 is all about being anonymous and decentralized, it's tough to square this with the tight KYC rules governments set. It's a tough nut to crack and the industry's got its work cut out as it keeps moving forward.
And if web3 or decentralized platforms deny their proposals for doing KYC or sharing users' data with them, they will most probably just make them shut down their services in certain jurisdictions which will be an issue for the casinos.
You're right much casinos uses web3 word just for promoting but there are currently very few web3 casinos available and which are actually web3 casinos. Simply adopting decentralization is not enough to consider a website as a web3 casino and we all know it’s very challenging to build a successful and gain all that trust. Because web3 It should incorporate specific characteristics and technologies such as smart contracts and tokenization in addition to decentralization.
For me finding a casino with these web3 features isn’t my very priority as long as it’s trustworthy. Since a web3 casino has many challenges as it's important for a casino to follow the government regulations to obtain a license and one of their rules is customer verification which is the opposite of decentralization and web3.
Many are tossing the term "web3" around like a hot trend, but they're missing the technical nuts and bolts that make it a real web3 gig. And just being decentralized isn't the full story.For me finding a casino with these web3 features isn’t my very priority as long as it’s trustworthy. Since a web3 casino has many challenges as it's important for a casino to follow the government regulations to obtain a license and one of their rules is customer verification which is the opposite of decentralization and web3.
A legit web3 casino would be working with blockchain tech, smart contracts, and tokens to make a secure, totally transparent gaming space. But let's be clear, just 'cause these features aren't there doesn't mean a casino is dodgy. Many long-standing online casinos run fair games and keep things secure without these tech goodes.
The main headache web3 casinos are dealing with is getting past all the rules and red tape. Because web3 is all about being anonymous and decentralized, it's tough to square this with the tight KYC rules governments set. It's a tough nut to crack and the industry's got its work cut out as it keeps moving forward.
Are you sure Uniswap actually helps the governments to black list addresses that easily? Because I would have not expected to hear something like that from the leading decentralized exchange of the market.
Besides, if we talk about centralization on decision making, as far as I know their uni token is also supposed to work as a governance token, which allows holders to have power on the direction the protocol is supposed to be going, I would catch my attention the voters had not revolted on the blacklisting practices, unless they have come to agree with it for the sake of the existence of Uniswap in the long term.
And it would be strange if the leaders of this project did not do this because it is very large, well-known among cryptocurrency lovers and, of course, it is simply impossible that in such matters it would maintain the confidentiality of the client database. If the leadership suddenly decided not to obey the demand of the authorities, I think it would cease to be the leadership no later than 2 days after the refusal to give information.
In general, now all large organizations in the field of crypto with US jurisdiction are under the control of the authorities. And this control will only tighten. I do not even doubt. But at the same time, talk about the independence of business will certainly continue. This is done so that crypto organizations and startups do not run away together and en masse from the USA to other jurisdictions. There are after all Hong Kong, Singapore, Malta, Switzerland and so on.
The concept of Know your client regulations and Web3 casinos are not compatible, because the concept of the Web3 itself (not only on casinos but also in any kind of service) is the fact users, clients and gamblers can identify themselves only by holding their personal keys.
I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users.
The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.
Uniswap wasn't a good example as its very much helping governments by blacklisting addresses, so i think those governments doesn't mind Uniswap doing what it's doing as long it's helping them out. I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users.
The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.
This however raises the question of how much decentralization there needs to be. Uniswap for example has centralized around the founder. It's debatable if it's a good thing that someone is going to be accountable if something goes wrong.
Are you sure Uniswap actually helps the governments to black list addresses that easily? Because I would have not expected to hear something like that from the leading decentralized exchange of the market.
Besides, if we talk about centralization on decision making, as far as I know their uni token is also supposed to work as a governance token, which allows holders to have power on the direction the protocol is supposed to be going, I would catch my attention the voters had not revolted on the blacklisting practices, unless they have come to agree with it for the sake of the existence of Uniswap in the long term.
You're right much casinos uses web3 word just for promoting but there are currently very few web3 casinos available and which are actually web3 casinos. Simply adopting decentralization is not enough to consider a website as a web3 casino and we all know it’s very challenging to build a successful and gain all that trust. Because web3 It should incorporate specific characteristics and technologies such as smart contracts and tokenization in addition to decentralization.
For me finding a casino with these web3 features isn’t my very priority as long as it’s trustworthy. Since a web3 casino has many challenges as it's important for a casino to follow the government regulations to obtain a license and one of their rules is customer verification which is the opposite of decentralization and web3.
For me finding a casino with these web3 features isn’t my very priority as long as it’s trustworthy. Since a web3 casino has many challenges as it's important for a casino to follow the government regulations to obtain a license and one of their rules is customer verification which is the opposite of decentralization and web3.
The concept of Know your client regulations and Web3 casinos are not compatible, because the concept of the Web3 itself (not only on casinos but also in any kind of service) is the fact users, clients and gamblers can identify themselves only by holding their personal keys.
I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users.
The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.
Uniswap wasn't a good example as its very much helping governments by blacklisting addresses, so i think those governments doesn't mind Uniswap doing what it's doing as long it's helping them out. I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users.
The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.
This however raises the question of how much decentralization there needs to be. Uniswap for example has centralized around the founder. It's debatable if it's a good thing that someone is going to be accountable if something goes wrong.
Many projects now, especially cryptocurrency projects are now switching to web3 since that is the latest trend in the market. There are companies that are operating on web2 but now, they have seen good reasons why they need to switch to web3 since it has wonderful features and utility than the previous web2 that we all know about. I will not be to surprise if I start seeing games and cryptocurrency casinos taghing themselves as a web3 casinos.
The major things is advancing there technology to the latest one with friendly features that users would love to get hold of with getting lost to an extend. We are soon going to see more about web3 which is advancing with great speed.
The major things is advancing there technology to the latest one with friendly features that users would love to get hold of with getting lost to an extend. We are soon going to see more about web3 which is advancing with great speed.
I still don't understand why people are always after the latest in trending and want to follow them. Now casinos too want to catch the heard of customers that is why they are very interested in tagging themselves a web3 casinos and at the same time, they will keep asking there customers for KYC which is not the main reason for a casino being a web3 casinos. This is obviously and we need to stay away from this kind of lies from casinos like this.
Even if it is politically incorrect to say so, many people are just sheep following a shepherd wherever they go, and this is a tendency which has increased dramatically during the previous decade with the advent of social media.Now the new generations are not only obsessed with the idea of following someone or something, but they also want to gain followers, so a great deal of their lives is spent on thinking about the current trends and the upcoming ones, and if anything I think this tendency will get even worse.
Actually in this case someone will judge based on each individual's opinion like you are not interested in web3 casinos but there are a large number of especially anonymous gamblers who use web3 casinos more than other casinos.
Because truly web-based casinos do not require KYC which makes anonymous gamblers more comfortable.
Because truly web-based casinos do not require KYC which makes anonymous gamblers more comfortable.
Well, Bitcoin is another thing, it is a coin and not a platform or a website, and it is not really that hard for them to find the owners of a platform since it has a website and they can easily get the details of the person who registered the domain, etc. If they want, they can easily reach the decentralized platforms and regulate them.
For now, they are not attacking decentralized platforms but they are in the verge of doing that, so it won't be wrong to say that in near future, the authorities will start either regulating or shutting down decentralized platforms as well, including casinos, exchanges, and everything else.
For now, they are not attacking decentralized platforms but they are in the verge of doing that, so it won't be wrong to say that in near future, the authorities will start either regulating or shutting down decentralized platforms as well, including casinos, exchanges, and everything else.
They are not doing it because the comparison between the volume of decentralized services and centralized ones. One just need to take a look at an approximated volume of a casino like Stake, which is the leader on the industry and the volume of a casino running on smart contracts. The difference is huge, same with exchanges and decentralized exchanges.
Since there is more money being moved on the centralized market, there is where the law enforcement is going to focus on. Simple and to the point, money chances to regulate and catch people breaking rules and laws.
As soon as decentralized casinos start coming out upfront and start getting significant success and volume as you said, the authorities will surely start taking action and try their best to regulate them in any way they can.
I still don't understand why people are always after the latest in trending and want to follow them. Now casinos too want to catch the heard of customers that is why they are very interested in tagging themselves a web3 casinos and at the same time, they will keep asking there customers for KYC which is not the main reason for a casino being a web3 casinos. This is obviously and we need to stay away from this kind of lies from casinos like this.
Even if it is politically incorrect to say so, many people are just sheep following a shepherd wherever they go, and this is a tendency which has increased dramatically during the previous decade with the advent of social media.Now the new generations are not only obsessed with the idea of following someone or something, but they also want to gain followers, so a great deal of their lives is spent on thinking about the current trends and the upcoming ones, and if anything I think this tendency will get even worse.
I still don't understand why people are always after the latest in trending and want to follow them. Now casinos too want to catch the heard of customers that is why they are very interested in tagging themselves a web3 casinos and at the same time, they will keep asking there customers for KYC which is not the main reason for a casino being a web3 casinos. This is obviously and we need to stay away from this kind of lies from casinos like this.
Even if it is politically incorrect to say so, many people are just sheep following a shepherd wherever they go, and this is a tendency which has increased dramatically during the previous decade with the advent of social media.Now the new generations are not only obsessed with the idea of following someone or something, but they also want to gain followers, so a great deal of their lives is spent on thinking about the current trends and the upcoming ones, and if anything I think this tendency will get even worse.
The concept of Know your client regulations and Web3 casinos are not compatible, because the concept of the Web3 itself (not only on casinos but also in any kind of service) is the fact users, clients and gamblers can identify themselves only by holding their personal keys.
I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users.
The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.
Well, Bitcoin is another thing, it is a coin and not a platform or a website, and it is not really that hard for them to find the owners of a platform since it has a website and they can easily get the details of the person who registered the domain, etc. If they want, they can easily reach the decentralized platforms and regulate them.I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users.
The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.
For now, they are not attacking decentralized platforms but they are in the verge of doing that, so it won't be wrong to say that in near future, the authorities will start either regulating or shutting down decentralized platforms as well, including casinos, exchanges, and everything else.
They are not doing it because the comparison between the volume of decentralized services and centralized ones. One just need to take a look at an approximated volume of a casino like Stake, which is the leader on the industry and the volume of a casino running on smart contracts. The difference is huge, same with exchanges and decentralized exchanges.
Since there is more money being moved on the centralized market, there is where the law enforcement is going to focus on. Simple and to the point, money chances to regulate and catch people breaking rules and laws.
To me, web3 casinos are nothing but another hype which needs close attention since often than none most Web 3 end up being more centralized than expected and this has affected the overall outcome of their services.
We are already getting more deep into this advanced technology and development with the use of AI, it's a situation where you feel the reality of virtual world in the present time, it has advanced many areas of the economy including the gambling and yet we are still warming up and have not arrived, enough with the rule of the centralized gover in our lives, I believe the technology will bring more of the good than the bad I the nearest future.
I agree with the fact that technology is involved and a lot of new developments alongside hypes are being introduced into the e-gaming industry with the metered verse and yet coupled with web3 decentralized finance that make gaming experience upgraded and also brought with it a lot of its disadvantages. But then, I can't possibly fortune out a way that AI will play any significant role in this direction and as a matter of fact, AI gaming has not been successful as a project.
Artificial Intelligence on the other hand is a different ball game altogether, it has been developed to help people with their tasks and works by providing the best solutions available by searching and finding out about it in data available from the past.
The concept of Know your client regulations and Web3 casinos are not compatible, because the concept of the Web3 itself (not only on casinos but also in any kind of service) is the fact users, clients and gamblers can identify themselves only by holding their personal keys.
I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users.
The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.
Well, Bitcoin is another thing, it is a coin and not a platform or a website, and it is not really that hard for them to find the owners of a platform since it has a website and they can easily get the details of the person who registered the domain, etc. If they want, they can easily reach the decentralized platforms and regulate them.I agree with you that governments wont like the idea of such services to become popular, but they already do not like the existence of Decentralized exchanges like Uniswap and there still is, accumulating volume and number of users.
The decentralization makes it harder for centralized entities to attack providers. Bitcoin is a good example of it.
For now, they are not attacking decentralized platforms but they are in the verge of doing that, so it won't be wrong to say that in near future, the authorities will start either regulating or shutting down decentralized platforms as well, including casinos, exchanges, and everything else.
Lately we have seen a lot of online casinos that are considering themselves as Web3.0 but in reality it’s just a name, they don’t over a real Decentralized experience for players.
So i want to know from you what’s are all the features an online casino should have to be considered as web3.0 casino?
So i want to know from you what’s are all the features an online casino should have to be considered as web3.0 casino?
This is quite new to me, but I think the current setup is okay as long as we gamble on gambling sites that have a good reputation. That web3.0 casino, my question is, does it bring convenience to gamblers? Because I have heard a lot about decentralized casinos in the past, but people are still patronizing centralized casinos. So, probably that kind of concept does not attract the interest of gamblers.
These web3 casinos know that Bitcoin gambling is top-notch and most popular in terms of crypto gambling. I know that they're mostly for dApps and smart contracts. But that should be of exception and they should support Bitcoin gambling.
So to me, Web 3.0 casinos are MAINLY about decentralization.
I agree but there have been developers that don't follow what's mainly for decentralization with the usage of this web3.0 casinos and related apps. They're the ones that are breaking what's believed to be on it instead of making the actual thing, they're just hiding in the dress of web 3.0 but later on will be found as centralized and nothing is different from the usual ones we've got. 
No such thing as of now, every casino that advertises themselves as "web3" is just a sham way to scam people, especially those who are into the idea of Web3. With that being said it's a possibility in the future, but with the way things are going now you'd have better odds seeing the metaverse take foot and run amidst all odds than seeing the entirety of the internet be decentralized in one go, no such technology to support, no real life use-case so there's no interest in creating it, and the concept is a little novel, so it's still trying to take shape. I felt like I went off a tangent here but the basic concept of a web3 casino is a casino that is operating on web3, which mainly means that it's decentralized, or at least partly.
Lately we have seen a lot of online casinos that are considering themselves as Web3.0 but in reality it’s just a name, they don’t over a real Decentralized experience for players.
So i want to know from you what’s are all the features an online casino should have to be considered as web3.0 casino?
Web3 casinos should be those casinos that operate in a completely decentralized manner, of which, KYC would not be necessary. Their games should also be decentralized, meaning no 3rd party is involved unlike what we currently have. I am not sure of this, but I think the bet winnings should be automatically credited to the player's wallet (e.g., Metamask); no need for wallet deposits and withdrawals as it would mean that the coins are being handled by the casino... and that's not what web3.0 decentralization is. So i want to know from you what’s are all the features an online casino should have to be considered as web3.0 casino?
So to me, Web 3.0 casinos are MAINLY about decentralization.
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