If you’re reading this you’ve probably already realized how popular online gambling has become. Over the past fifteen years, online gambling has become an increasingly sizeable part of the total gambling industry. Online gambling has grown from a global market size of $20 billion in 2009 to $37 billion in 2015 and is projected to reach $60 billion by 2020. This is no surprise as online gambling is much more convenient. There is no need to leave your house. You can literally gamble in your pajamas.
There’s a number of reasons why blockchain improves on the current online “centralized” gambling experience……
It’s provably fair.
Blockchain enables complete transparency of transactions as all records are kept on a digital ledger which is stored on the blockchain for all to see. This means there is no way for casino owners to manipulate results.
Have you ever wanted to own a slot machine?
Well, now you literally can! One of the most exciting aspects of blockchain technology is the ability for businesses to share their profits with users.
To give you an example, a popular decentralized application (dApp) running on the EOS blockchain named DICE has a token economic model that rewards users every single time they bet on one of their Casino games with a certain amount of DICE tokens. Users can then stake their DICE tokens on the DICE platform which then entitles them to a percentage of the house profits!
Your odds of winning are improved.
We all know that “the house always wins” but exactly how much is the house winning? One of the main problems with online gambling is users have no idea what is happening behind closed doors, no idea what the house edge of a particular gambling game is set to. Blockchain is here to change that. With increased transparency, online casino owners become more accountable which forces them to set fair and competitive house edges.
Sparked your interest?
When you start to weigh up the clear advantages blockchain online gambling platforms have over their centralized counterparts it seems ludicrous to even consider choosing the latter of the two.
And for the first time the EOS blockchain allows decentralized gambling applications like dice.one to run just as fast and seamless as their centralized counterparts. This is revolutionary and obviously the future of online gambling.
To start using the DICE platform you will need an EOS account. There are a few steps to progress through, but we think it’s well worth the effort to own part of a casino!
First step is to create an EOS account here.
Second step is to download Scatter, a wallet to store your EOS and sign transactions on the blockchain.
Third and final step is to sign up on an exchange so you can fund your EOS account and start using the DICE platform!
We recommend Coinbase for ease of use, but there are many well known exchanges to choose from as listed below.
Coinbase also has a great learn to earn program where you can earn up to $10 USD just from learning about EOS, the most used blockchain on the planet.
If you have any trouble with the above steps there’s a great helpful community to help you on the DICE and EOS New York telegram channels.
Disclaimer. Please only gamble what you’re willing to lose. EOSwriter does not endorse any content or product on this page. While we aim at providing you with all the important information we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as investment advice.