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Ukraine New iGaming Format: Bitcoin Casinos and Blockchain Technologies
Crypto gambling platforms are one of the most encouraging trends in 2022.
The wide use of decentralised technologies has made it possible to repeatedly increase the security of gaming platforms and significantly expand sales markets. In the last year alone, the volume of cryptocurrency bets has grown from $3.39 billion to $6.71 billion (according to statistics from Dapp.com).
Smart Money experts explain how to run a Bitcoin casino in the new realities and the benefits of such an investment.
Operation of Decentralised Technologies
Blockchain tools were primarily developed for the production of cryptocurrency, but gradually penetrated almost all areas of the IT industry, including gambling.
The solution is a continued digital sequence consisting of separate information blocks. The service works based on automated algorithms and can form endless sequences of blocks. Moreover, the information encrypted in the code elements can be viewed but not changed.
| Specifications and Capabilities of the Blockchain Technology | |
| Lack of a unified control centre | There is no centralised management of operations in the system: elements of the program code are stored by each of the users participating in the formation of the Blockchain |
| Clarity of algorithms | Members of the system can track and view any of the generated blocks. Open access to information flows ensures maximum reliability, safety and transparency of operations |
| Confidentiality | To gain access to program blocks, it is enough to have a special access key. Random values are used to generate a password, and personal information of clients is not requested |
| Block immutability | Private code components are not subject to modification. Any attempt to change the saved data is automatically rejected |
| Automated work without intermediaries | Blocks are formed by default: it is impossible to intervene in the process, reverse or interrupt it. Intermediaries are not involved in the operation of the system. The Blockchain technologies provide a high response speed, regardless of the volume of external requests |
Bitcoin Casino: Benefits and Perspectives
Such technologies are one of the most convenient and secure alternatives to any other IT tools for opening gaming projects. Launching a crypto casino allows solving many problems of the traditional slot machines including:
- risk of personal data leakage;
- geographic restrictions on visiting online services;
- large time intervals for the processing of payment applications;
- fixed game limits;
- high commissions and taxes on winnings;
- the risk of interruption, cancellation of transactions and blocking of wallets.
Here is a list of benefits of working with decentralised gambling platforms:
Responsible Gaming
All information about the conditions of the session and the features of generating the outcome is in the public domain. Clients of the institution have constant unlimited access to the history of transactions and data on the technical characteristics of the system.
Anonymity
Blockchain casinos provide open access to games for money without mandatory registration and disclosure of personal data. To make a deposit and receive a win, the user only needs to indicate the number of the electronic wallet.
Service Distribution Area
Blockchain solutions do not have a unified control system and are available to players from anywhere in the world. A Bitcoin casino operator can accept all types of traffic and work with an audience from states where gambling is prohibited.
Small Commissions
Decentralised services work without intermediaries (banks or electronic payment systems), so there is no need to pay commissions for using the platform and taxes on winnings.
Casino operators may charge a certain fee for access to gaming systems, but they are less effective than similar commissions for transfers in fiat currency.
Low Rates
Crypto casinos are great for working with any type of audience:
- cautious users who do not like to risk large sums;
- VIP clients playing for big money;
- professional gamblers who regularly replenish the balance by fixed amounts.
The minimum bet threshold is $0.001. The size and frequency of deposits and withdrawals of winnings are not limited. The user also can order the transfer of both the full amount and the payment split.
How to Launch a Blockchain Start-up
The process of opening a decentralised gaming system is similar to releasing traditional slot machine sites. The operator can:
- start a franchise business;
- work under the White Label program;
- download the script of the gaming site;
- develop a project from scratch;
- complete the purchase of a turnkey Bitcoin casino.
In the latter case, the investor receives a functional technical base, a large selection of content and comprehensive support from the seller such as:
- assistance in the development of design and platform interface;
- recommendations on the choice of jurisdiction for lawful business;
- round-the-clock technical support;
- debugging the system and prompt elimination of technical failures;
- setting up payment instruments and reports.
The main difference from traditional casino sites is the implementation of decentralised technologies into the functionality of the project.
Blockchain tools can be used in many ways:
- Organisation of a full-scale gaming infrastructure. Blockchain technologies are used to implement all components of the project: controlling financial flows, tracking player activity, and ensuring the safety of the institution. In this case, all participants in the system remain anonymous.
- Alternative game mechanics. Decentralised services can be used as a safer and more dependable alternative to traditional number generation systems. The technology guarantees a clear result: the history of the circulation is in the public domain, and it is technically impossible to influence the results.
- Support for cryptocurrency transactions. The task of the program is to assure payments in digital units. Bitcoin casino software can be used in conjunction with any other payment modules.
The Smart Money team offers ready-made gaming projects and a range of services for business optimisation.
The entrepreneur may order such options:
- remote administration of gambling products of any format;
- development of specialised mobile applications;
- introduction of bonus programs;
- connection to partner services;
- the creation of exclusive HTML5 content;
- full-scale marketing support.
The Main Things about Decentralised iGaming Services
Blockchain technologies allow operators to increase the business quality and improve the security of wagering services many times over.
Running decentralised apps provides entrepreneurs with the following benefits:
- Unlimited markets. Bitcoin casino owners can receive traffic from all over the world, including territories where gambling is prohibited.
- Security guarantees. It is impossible to influence the result of the draw: any attempt to correct the result is automatically rejected by the system.
- Confidentiality. There is no mandatory registration of new users in the crypto casino. To conclude a transaction and withdraw money, it is enough to imply the number of the electronic wallet. No other personal data is requested.
- Payment speed. Financial transactions within the system are instant. The service guarantees an immediate response, regardless of the frequency and regularity of requests, the volume of simultaneous appeals or the amount of the transfer.
To buy a Bitcoin casino at Smart Money, operators can fill out an application and send it to the firm’s managers.
We guarantee the highest quality of services and offer advanced solutions for entering the international market.
Such gambling products of the latest generation are available:
- live content;
- browser games in HTML5 format;
- mobile entertainment;
- lotteries and instant draws;
- social casinos;
- products with 3D and VR elements.
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