The world gambling market breaks records every year, exceeding its own previous volumes, and hard-selling ads somehow manage to find their place in people’s lives, expanding its coverage and increasing its revenues despite all kinds of prohibitions imposed by governments.
Gambling is special, because people get in the game knowingly, understanding that there’s a risk of loss and hoping to somehow win their battle against a casino and come out rich. Unfortunately, there’s been no time in the course of history that such games gained trust because of “fair-play” — they were simply not giving players enough information of how won funds are distributed and what the game looks like from the inside. At the same time, trust is the most expensive thing in this industry, because if a game is fair, people are more willing to play.
Besides the lack of trust, many market players that say rewards are guaranteed do not really care how (and if) the winner really gets it. And even if a player accepted all their conditions and consciously takes the risk, they’re face to face with the problem of depositing funds to their cards and a variety of other difficulties.
For example, there are junkets in Macau. Those are special tables millions of dollars are lost at daily, available to the rich only. But even they, with all their millions, can not just come and start playing. To play at such a table, one will need to have many millions of dollars “right here, right now”, and it’s hard to transfer such amounts over the border, so they will have to hire dedicated companies in Hong Kong that can transfer funds directly to a junket for a fee.
Blockchain may change the dishonest approach to treating players once and for all. Players will just buy coins of the casino and take part in the game, knowing any and all transactions are transparent, and any won funds are distributed with use of a smart contract containing an algorithm. In this model, no administrator that can change the logic of the game or interrupt a payment is needed. The program is executed at multiple network nodes and is literally unstoppable. Any interested party can access the code and see the game is fair. Today, one of the most effective solutions in the gambling field is Rasmart, a platform that allows to implement all the mentioned functions and change the gambling world once and for all.
LINKS:
Website: http://rasmart.io/?utm_source=medium&utm_medium=article
Whitepaper: https://rasmart.io/doc/WhitePaper.pdf
Telegram: https://t.me/rasmart_chat
Twitter: https://twitter.com/rasmart_io