Topic: What is a web3 casino for you? - page 8. (Read 1201 times)

You are not getting it right at all, but I understand what you are talking about too, because the so called web3 is not actually decentralized as it ought to be decentralized and also how it can become very centralized in the future. You are right about that, but you should not consider all gambling sites that involves crypto to be called web3 because some casinos are very centralized in a way that gamblers need to deposit into their casino addresses where the casinos have control over the coins, unlike web3 casinos.

I agree, the main feature of a WEB3 casino is that it allows gamblers to connect their noncustodial wallets to a gambling site in a way that payments are settled on the blockchain. However, the government's intervention and regulations on the online casino industry make it difficult for a truly decentralized web3 casino to exist. Currently, it is more like a buzzword, which casino operators use as a marketing tool to hook new players and stay ahead of the competition.

However, it is not impossible to create a fully decentralized casino. There are several platforms in development right now, if I'm not mistaken, which will allow users to play games on the blockchain without any third-party interference. But, these platforms are still in their infancy and have a long way to go before they can be used by the general public.

Web3 is the supposed next-generation technology of the World Wide Web, it's now much anticipated but the project might not have begun yet. It's still a work in progress and needs to be patiently waited before any ascertained conclusions should be made about it. My studies indicate some conflicting ideas about the initiative from experts and how a fake decentralization could be promised through it.

Gambling or no gambling, it promises to help in more privacy but I believe time will tell about it rather than believing something in anticipation.

It's the same way as connecting your wallet to a platform and all your funds are been wiped off, what is decentralization in this? Any platform can do this today if the dev decides to do it this way, this is not any decentralization, imagine saying that Bitcoin is not decentralized because there is no way to connect your Bitcoin wallet to the Bitcoin website.

Connecting your wallet for swap or trade on any platform is not a form of decentralization, let's stop deceiving ourselves, you can run a code and make this running in minutes.

I have my own view on how web3 is being termed so you clearly have misunderstood it as well. You probably have not read that "Decentralization isn't likely to be achieved on a casino" statement of mine. Web3 is just a term and real soon even casinos would just jump to web4 or something, those are just to hype the crowd. So, for me, it doesn't matter.

web3 casinos are not necessarily decentralized. For a casino to be decentralized it would need to:
- Have an open source front-end that can interact with the smart contract and can be deployed by anyone (that way if the main interface goes down, anyone can make a mirror with ease)
- Would not store or require login information in order to interact with it (connect your web3 wallet to use)
- Have a smart contract that is the backbone of its payment processing and possibly also its game operation.

Most casinos promoting that they are "web3" casinos only offer the ability to connect a wallet, some use smart contracts for payment processing. Most are not using smart contracts for game operation and are not usually open source in a way where anyone can fork the front-end and connect it to the smart contract.

Most casinos write down the rules on their ToS page, but there may be some things they don't include, such as the minimum amount we can use or withdraw not to do KYC. We have to look for this through the support service because usually, the support service will tell us about it. And maybe there is much more that we should know before deciding to join the casino. So regardless of the form of the casino, whether it's really web3 or not web3, the rules will look the same and we have to be active to find out the other rules. People tend to choose casinos that are not web3 because they can contact the support service if there is a problem or they can visit the ANN thread of the casino to ask for answers.

Indeed, web3-based casinos are easy to use because we don't need to register as usual. But that's precisely why we must be more careful not to connect our personal wallet to the casino carelessly and ensure that the personal wallet we use is specifically for playing gambling.

I don't think too much about the issue of decentralization or centralization because I see the government's involvement is getting deeper so I see it as the same thing. Whatever the type of casino, it will not escape government supervision so the government can ask for verification from the casino and all of its members.

I'm still going to claim that "web3" is just a word companies are using to make their site seem like it's "in the times". Not that im denying web3 exists, I guess we just don't have a solid reference for one yet, so most people, probably including me as well, can't really judge as to whether a site is web3 or not so I just judge them all as not being one. It also doesnt help how most casinos that claim their using web3 doesn't really look or feel any different from what regular websites use.

I'm guessing a big site needs to show what web3 is all about before we're even able to realize what it really is imo.

Unfortunately, there are many casinos that claim to be Web 3.0 but in reality, they are fooling the gamblers and are not the Web 3 ones.

A real Web 3.0 gambling casino will not have the Username / Password feature to access the gambling site. You will connect your wallet such as a meta mask with the casino and then gamble on the site. This makes the gambling site decentralized. Another way to identify a Web 3 casino is that you never need to deposit the funds in the casino as the funds remain in your own wallet while you gamble on that casino. If you deposit money on any site, it is not as per the standards of Web 3.0

I would have to agree with you on that part. Obviously, there are no "real" decentralized gambling casinos which could be considered true web3 casinos right now (or at least none that I happen to know of). Most casinos who claim to be web3 are just saying that for the purpose of marketing. They want to make it seem like they are something they are not, in order to gain a step ahead of the "regular casino" competition.

As long as they have a say of what happens to your funds or as long as there is any kind of centralized authority system which has any kind of control over the gamblers accounts and/or their funds, they should not be calling themselves "decentralized".

^ Web 3 casino websites not only focus on decentralization. In fact, there are four major concepts before we can call a casino it is a web 3 features such as using Smart contracts, a provably fair system, accepting a variety of coins or having its own token, and last but not the least interoperability. This is should be interoperable with other decentralized applications (dApps) and blockchain platforms, allowing for seamless integration and compatibility with the wider blockchain ecosystem.

There are a few casinos that call themselves Web3.0, for example Moonbet.io and alpha.casino. And from my understanding, they think that since they support metamask, it's already a web3.0 casino. But the problem is that Metamask Wallet doesn't support Bitcoin from Bitcoin blockchain, you can only store wrapped bitcoin or other ERC-20 tokens.
MetaMask Scandal: The Crypto Wallet Cut Off Access To Venezuelan Users. - But is this Metamask actually decentralized? If they can suspend their service in my country or exclusively for me or block me, then what's the point?

The people who will be deceived the most are those who have a hyped idea about the web3 and have not settled down to really think and research it out, to understand what it really is.

A fully decentralized web3 casino will surely attract fraudsters, terrorist possibly and assist money launderers to avoid the government, which is something that will not be permitted by the government.

It is difficult to imagine a fully decentralized web3 casino.

What are the casinos that claim to be web3 casinos but actually aren't? I can only remember 1 casino that claimed they are a web3 casino and are decentralized and they actually were since you can just connect your wallet with their website and place your bets directly from your wallet by accepting the transactions every time you place a bet.

A casino that says they are utilizing web3 while they are not decentralized and require you to create an account and deposit assets to be able to gamble is simply lying and is only using the term for free promotion.

A web3 casino should be fully decentralized which is the ultimate feature of a Web 3 casino since all payments are settled within the blockchain and players need to connect their wallet to the casino before the play, it makes sense in the form of the true spirit of decentralization, but that has not been the case with all the so-called web 3 casino we have around because the claim to be web 3 by name but remains centralized in operations.
So to most of us, the recent Web 3 campaign is just hype that will fade away with time if any true development is not done.

There are currently (like you said) several online casinos claiming to be decentralized, in other words, web 3.0, and if I am to make a reference, I would reference owl.games, this is a casino I've played of for atleast, some months, the casino though have some web 3.0 features, but in real sense, its not completely a web 3.0 casino..

For me, a web  3.0 casino does not have to have a deposit or withdrawal feature, as the casino is directly connected to the wallet, it can safely and securely withdraw from the wallet and also deposit into the wallet, games on web 3.0 casino should be hosted on the blockchain itself, if it's not, then it's not a complete decentralized casino..
There are so many other features, but the two I've mentioned are the major for me..

MY POV: On-chain gambling but the different you connect the wallet.

In regular on-chain gambling, you are set up the bet and send the payment. Always like that not connected anything, and send the payment with your wallet without connected to the site. IMO, i more like it traditional way like this.

Just to avoid, my wallet got hacked, drain or other.

Web3 involves decentralization and the blockchain but how many gambling platforms are really using this web3? Last time I checked they are very limited and most online casinos on this forum aren't web3 gambling platforms.

A true web3 gambling platform will have to run on the blockchain and have tokens, with few features that will benefits decentralization and the blockchain, it can be a gaming/gambling niche, security, and true decentralization practice, today such a thing does not exist. Not the top reputable gambling platforms that we all know.

Most casinos aren't because they don't understand and don't have experience about decentralization with web3 , in fact they understand that it's just that they are taking advantage of the trend that is currently popular to attract many new gamblers to come to test their casino, but again it's not much of a community of novice gamblers who are interested because of web3

Gamblers just come to play regardless of whether the site supports web 3 or not, as long as they play no documents are requested and complete KYC gamblers will be happier because decentralization gives gamblers the freedom to play anonymously, but still it is difficult to make decentralized casinos last long , As far as I know, the possible web 3 feature is how to access a casino account by simply connecting your wallet, so you don't need any e-mail or documents, then play casino through a smart contract. that's all i know a little

I actually percieved it as a more diversed web than what we are used to. It involves different chains and platforms which works under 3.0. So it is indeed like a typical gambling website just covering different chains when it comes on payment and transactions, which on the other hand, makes it modern. No other trait would require an existing online platform to be a web 3.0, other than being a wider network, I guess. Quite self- explanatory but since it involves decentralization and blockchains, its biggest advantage is avoiding taxes on each transaction which could be more beneficial for players especially those who bet huge amount and are winning big time as well. Whether sec and other orgs would allow it or not, for sure there will be this bases for them to balance things out fair for consumers, the law itself, and capitalists or owners of these platforms.