Topic: What is a web3 casino for you? - page 7. (Read 1201 times)

web3 casino will be like any other casino.  There is no need to register an account and deposit any crypto to the casino site separately. this is one of the advantages of Web3 Casino.  Here any gambler has to connect his personal wallet and play gambling.  But one disadvantage here is that if someone connects the wallet to a scam site then his wallet will be at a high risk of being hacked, so if you give one, as Web3 Casino will make our gambling easier, it will put us at high risk, so I personally am not very interested in Web3 Casino.

I remember some of its title so I finally found that thread you are talking about in the page 3 of this board. Here it is > https://bitcointalksearch.org/topic/a-way-to-attract-new-users-or-a-misunderstanding-5427484 . Web 3's are not new but it's surprising that their numbers are still low and they are not yet popular.

Maybe because gamblers don't like them and they still prefer the common casinos that we see nowadays but a real web 3 casino must be decentralized because other web 3 platforms are like that too. If there is a casino that promise to be a web 3 but then ask for a KYC or have a sign up process, those are only fake. I wouldn't trust casinos like that even if they are not a scam because who knows, maybe it is only easy for them to do it later on, as it's easy for them to lie.

I think most gamblers are don't care with Web 3.0 or decentralization/privacy, that's why they don't mind to submit their KYC on the casino.

There are many cons of decentralized casinos:
1. They worried if they have connected their wallet to the casino, their coins will be gone because we had seen so many people lose their coins due to connecting their wallet.
2. Promotions, rakeback, VIP ranks are limited or not implemented by the casino.
3. They feel more comfortable to gamble through login their account than connecting their wallet.
4. They have thought the casino will not last long since the casino will need to follow the regulations and it will ruin the decentralization.

I never tried it yet, because as I know that type of site is not supported Bitcoin for deposit. But, if I compare it to like the altcoin decentralization exchange maybe the difference is not far away. we can check the hash if the site is really Decentralized, if not, there is not time to linger there.

The biggest thing to tell the difference between them (Decentralized and centralized) gambling sites is a deposit and withdrawal, there is no difference when we play on the game, let's not get into a trap with this, skill and your lucks is an important thing in gambling, even use Decentralized and centralized gambling.

Web3 Casinos, are the casinos that run on blockchains.  Most probably decentralized and needs the non-custodial wallet to be connected in order to play the games.


The reason for this is that it is expensive to play since every activity needs to be written and confirmed on the blockchain.  We all know every transaction on Blockchain specially the transfer of funds needs a transaction fee.  Imagine rolling 3k times and having to pay to the blockchain that many times.  It is kinda troublesome and expensive.  A player may not lose on the game but obviously, most of the player's profit will go to the transaction fee.

Decentralized casinos are still having a hard time to attract more players, though there’s a lot of projects already that is being owned by the community though its hard to choose for a good project as most of them have the same concept. If the site is not being honest about their real technology, then that’s a red flag for me better to look for alternatives, decentralized platform are still a big concern when it comes to casinos especially with their fairness.

^That is definitely right, it may be hard for them to hunt down because they are decentralized and operate on the blockchain which means that the casinos operate on a decentralized network, and the games and transactions are executed on a distributed network of nodes and servers, rather than on a centralized server. But they still operate within the legal process of the jurisdiction in which they are based. As with any other type of gambling operation. Web3 casinos are still subject to legal and regulatory processes, which can limit their ability to move their operations to a new location. Many jurisdictions have laws that prohibit or regulate online gambling, and operators must comply with these laws if they want to avoid legal penalties or regulatory action.

You are absolutely correct, shutting down a decentralized casino can only be possible if the entire blockchain which the casino is built upon is shut down, and shutting down a blockchain, like we know so far is close to impossible, if it was, I believe the government, due to their hate for bitcoin, would have moved to shutting down the bitcoin blockchain.

Regulators can only succeed in shutting down a casino built on the blockchain, only if the casino is not a completely decentralized casino, like we've seen with some casinos, claiming to be web 3 based, where as in real sense, they are just web 3 like, not web 3 based.

You make a valid point. However, there is one key difference between decentralized and centralized casinos that should not be overlooked. Decentralized casinos operate on blockchain technology, which provides an added layer of security.

Therefore, the authorities will have a much harder time hunting them or shut them down. The operators of these casinos can easily move their servers to a new location and continue operations as usual. This is not something that traditional casinos can do.

When it comes into a business which does involved huge money in terms of incoming and outgoing then it would be understandable that government would really be coming after neither you would really be having a crypto based gambling platform or into those typical casinos that we do know or we do have today. I dont know on how it looks like about having that web3 is totally decentralized on the said way because if we do really see that there's still that authority or someone who does have the control which it is impossible for these platforms or owners on wont to be searched out. Gambling up illegally on the sense that
you are going against centralization.

In general, decentralization and anonymity does really matters but we know that when it comes to platforms or businesses then people would really be that confident on dealing up  with platforms or companies which does have some license because anonymity and decentralization isnt everything. People does really have that likings of feeling of being secured which means that in speaking with casinos online
then people would usually be seeking for those who do have license but well having a license isnt a solid indication that you are dealing with a legit casino or platform.
You should really be digging deeper if we do speak about making some verification if you are dealing with a legit site or not.

If you are able to connect your wallet and play then that’s decentralized and probably a web3 site. If you are doubting the site you’re playing with then better to stay away, just look for a real web3 site and you wont regret it. Though I still prefer a centralized site where they have a legitimate license to operate, for me Web3 is still new and still needs a lot of improvements, I don’t want to adopt yet for now.

Did you actually refer to freebitco.in as a casino? If yes, then you should know that it is actually not a casino but a faucet from its origin, it started adding more and more features later on when it got a pretty high user base, the only gambling game that they have or have always had is a dice game which they always had in their website.

And you are surely right that a web3 casino is supposed to have a wallet connecting option for players to connect their wallets and play directly without having to register on the website which makes betting on-chain available.

A decentralized casino and a centralized casino without a license are basically operating the same way, without paying any taxes and running off the radar and that is the reason why usually see authorities hunting down some casinos that are unregistered and unregulated, so decentralized casinos are probably going to get targeted too.

And you are totally right that most of the time, the name of web3 is just used for marketing purposes since it is among the trends that are circulating within the crypto community these days. From personal experience, I've only witnessed 1 decentralized casino in my life, it was announced on this forum though I don't remember the name, it must still be there.

There is actually a topic which I believe was discuss here some time ago where the op was asking if casinos that claim to be web 3.0 projects, are really Web 3.0 or just using the title as a form of advertisement.

Majority of those who commented said that, as of now, web 3.0 casino are very few in number, and are not popular yet, so clearly, most of the casino claiming to be web 3.0 based are nothing but using that to promote their casinos and Win more new customers over.

Web 3.0 equals complete decentralization, even games in a web 3.0 casino should be hosted on-chain, and not on a server controlled by people, if the games listed on the casino are not hosted on-chain through smart contracts, then it simply means that such a casino is not a true web 3.0 casino.

For me, web3.0 casinos are the ones where you can connect the decentralized wallet and play, as well as play with deposits and the centralized system, I don't know if I'm wrong, but web3 casinos are promoting them a lot as if it were the saint Grail, the truth is that I still trust the old casinos like freebitcoin, in duelbits which I consider to be very good, for me all this is happening as a fad, where everyone wants to interact in order to have good results, but I prefer that casinos integrate web3 to see how it goes, but the old ones.

As long as we can choose the right casino web3 by doing research, we will not end up losing or experiencing fraud. Only trusted web3-based casinos that we can use to play gambling and want to avoid registration as we have done so far. But we also have to be careful how we use the wallet we connect to the casino because there is no guarantee a hacker can't get into our wallet and take all of our money. That's why we must use a different wallet to connect to the web3 casino to avoid hacking.

While the government is likely to tighten and supervise the existing casinos, especially popular casinos, so they can know the flow of funds in them, the government does that because they can't find out who the crypto users are behind every gambling account in casinos. Hence, they try to suppress all businesses that use crypto so that account owners want to do KYC.

Any casino that claimed to be decentralized are running the business at its own risk, no casino should claim to be decentralized unless they are operating off the radar or in a country where decentralization is all that matters to them, FED forbid running an unregistered casino and the penalty is very severe.

The web3 name is just an attracting strategy, I have not seen any one casino that's truly decentralized or fully functioning on the web3, many new casinos are looking for a more effective way to attract many gamblers and they have to use what is presently trending in the world today, which is web3, metaverse and gaming and AI.

Any casino owner will proudly do the same today.

Yeah, my guys wanted to use the Web3.0 keyword as well, it's a trendy little thing, but we voted against it in the end since Coinslotty is not a Web3.0 project.

In my eyes, if it's built on the blockchain, it's a Web3.0 project. Having just a crypto payment processor is not enough to justify that word and use it in your marketing campaigns.

We must always be careful in using the web3 casino and don't let any negligence that could harm us in the future. For wallets that will be used to connect to the casino, we can use a secondary wallet to better protect what we have in our original wallet. .
Creating a secondary wallet is very easy, so we don't need to worry, friend.

Yes, that is what is happening now that the government is getting deeper into the gambling industry so that it will eliminate more of the original characteristics of crypto casinos in today's era.
It's really a pity if all forms of cryptocurrency bases are always under excessive supervision by the government.