Blockchain has substantially revolutionised the era of gambling. Casinos emerged in 1638 to breathe life in the presumed heart and soul of gambling, and have been proactive from way back. The ‘The house always wins’ winning ideology has been overpowering ever since, leading to the emanation of online gaming and betting platforms in the market.
The online casinos have come up with a new version of gambling with maximum advantage to its players, offering to play and bet while being regulated by a blockchain. Bethereum Limited, Edgeless and Funfair are online betting platforms based on blockchain, and have succeeded in reducing the house edge to the minimum while liberating the perimeters of physical casinos.
What online casinos do?
- Pool your money and keep it stored till you bet or gamble on the platform. The more money you deposit, the higher would be the bonus.
- While you bet in physical casinos and spin the roulette, you are shown up a resultant number generated through randomness built in their system automatically, so do online casinos have a Pseudo Random Number Generator (PRNG) to generate a long stream of numbers with the help of an algorithm.
The house continued to administer and conquer till online casino market avengers bucked up to wipe out the imbalance created by house involvement in casinos. The idea to wipe out the involvement of house to the roots through online casinos has given such platforms an edge over their physical counterparts by-
- No house edge– The casino business has a more wider and significant share in market capital, yet to go. ‘The house always wins”, a biased statement reflects the unimaginable advantages that the house has been earning from each gambling partner. To return to a fair player vs. player gambling experience where players are the ultimate winners, YOUnited has come up with a house-less blockchain domain where a player always wins.
- Fair dealings, provable winnings and basal penalty– The internalization of blockchain makes it a fair process with every action being recorded on-chain. Odds are provable as blockchain is being used to verify the winnings and to ensure that rewards are being paid respectively.
Cashbet and Funfair, blockchain based online casinos who still don’t use this technology to its full extent, and calculate the returns at a rate that is again opportune to the house with an advantage of 1-5%. On the other side, YOUnited is the first house-less platform with no house to gain advantage, with just a cut of 1% as blockchain fee out of the winnings at the end of the game. This serves as their sole earning mechanism. The fee is paid through UNTD coins, YOUnited’s own currency.
YOUnited is empowering the players through a fair gaming and betting experience, where the blockchain technology is completely replacing the house role. Rules of all games, random number generator and all of the transactions are based on blockchain. Gambling has been lacking social synergy with players relying their trust on the house which brought along handy losses. This is the driving force behind YOUnited as they stride to restore the trust of players in their fellow players and create new winning experience in online space where players can compete against each other.
And the graph goes up with the need to hop on blockchain based gambling. Whether it is an absolutely new gaming experience based on player vs. player offered by YOUnited, you can invest your money by infusing trust, which will be braced through inherent blockchain gambling.