The Best Ethereum Gambling DApps for 2023
Amit S., Heera S., Charles P., Sarah O., Thomas P.
The fresh look of Stake.com combined with a huge variety of decentralized proprietary games and cryptographic security is what makes this Ethereum and altcoin casino worth your while.
Since the introduction of the world’s first online casino in the mid-1990’s, the industry has been fraught with regulatory tightening. Measures such as customer due diligence controls and enhanced player protections have been good in one sense, however many believe that it has hindered the industry’s ability to transition in to the era of digitalization. However, the growth of cryptocurrencies and more importantly – their underlying blockchain protocol, has created a range of opportunities for new and exciting gambling streams. Although the technology is still in its infancy, there are a variety of interesting Ethereum Casino DApps to consider.
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5 Best Ethereum Gambling DApps
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1. Stake Casino
Stake.com is an online casino that specializes exclusively in decentralized casino games. The website was launched as recently as 2017 and is backed by the same team behind Primedice. Stake.com make some rather bold claims, promoting themselves as the “most fair and transparent online casino in the universe”.
To ensure that Stake.com justify their claims of being a transparent casino, each and every gaming outcome can be independently verified by provably fair technology. This allows Stake.com to prove to its players that the outcome of each game is out of their control, and cannot be manipulated internally in any manner.
Arguably one of the best features of the crypto casino platform is the lighting quick transactional speeds. Deposits are ordinarily confirmed within 10 minutes, and withdrawals most commonly reach a player’s wallet within 24 hours – however often sooner. This could not be more dissimilar from the methods employed by traditional fiat casinos, insofar that players have to submit countless amounts of documents before their request is processed. Even then, players will often have to wait days, if not weeks for their funds to reach their account.
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Intro to Decentralized gambling
Decentralized Ethereum Casino Games
When Bitcoin was first launched in 2009, it was with the sole purpose of providing a decentralized financial system with no central point of control. However, the founders behind Ethereum – the number two cryptocurrency in terms of market capitalization, wanted to take things beyond just monetary transactions. As a result, their blockchain allows people from anywhere in the world to create and enter in to smart contract agreement.
This technology could potentially revolutionize the online gaming industry as it would allow both the player and backer to engage in Ethereum Casino DApps without needing a third party. An example of this is the sports betting sector. Once the player has selected their bet, the terms of the agreement are then installed within the smart contract.
An underlying protocol known as an ‘Oracle’ is then able to independently scan thousands of trusted sources and determine the result. There can be no act of malpractice from either party of the funds are subsequently locked in to an immutable escrow that cannot be manipulated. Therefore, there can be only two outcomes. If the player is successful the winnings are automatically released to their wallet in a matter of seconds. On the contrary, if the bet is unsuccessful, the funds are released to the backer.
What is a DApp?
In the purest sense of the word, a DApp is an application where the backend code runs on a decentralized peer-to-peer network. More often than not, the term DApp is used in relation to Ethereum’s Smart Contracts, since these contracts run on the global Ethereum network, which is obviously decentralized.
The user interface or the front-end can be run on any server, while making calls to the back-end. When talking about a Ethereum gambling DApp, this means that the front-end can be developed like any other app. However, the backend, or the internal workings of a casino are ran on a decentralized network. So payouts, the random number generator, the algorithms of the slots, etc – all of these are coded within the contracts which run on the network.
Since the technology is still somewhat in its infancy, and it takes time to develop an entire casino, the offerings are somewhat limited at the moment. Most of the available Ethereum Casino DApps are bare-bones dice bots and simple games where you can wager on a 50/50 situation. Although big leaps are being made by developers like FunFair, Edgeless, and others, for now we mostly have to make do with some fun but simple games like Etheroll.
It’s obviously not all gloom and doom, there are some great operators that offer their casino DApp at the moment while always improving. Also the rise of many new tokens that make application development much easier will pave the way for fantastic new casinos that can truly revolutionize the gambling business.
Ethereum Gambling DApps
An additional piece of technology that was initially made possible by the creation of Ethereum is a decentralized application – otherwise known as a dApp. A casino built on top of a dApp works in a similar way to the current fundamentals of an online casino, however there are some key differences. Firstly, a dApp is decentralized, meaning that it has no central point of control. Essentially for changes to be made to the network, the majority of the Ethereum (or whichever cryptocurrency it is) must reach consensus.
As a result, an online casino could potentially function without an actual operator. Instead, players have the opportunity to transact directly with the gaming provider. For example, if one were to play roulette through a decentralized casino games, the smart contract would ensure that each and every gaming outcome was true and fair, which would then feed to the interface of the Ethereum Casino DApp. At the end of each roulette spin, the player would automatically receive their winnings or alternatively, the funds would be released to the bankroller.
A critic might argue why such a transition is required. Ultimately, the underlying blockchain technology ensures that each and every gaming outcome can be independently verified for its legitimacy. Moreover, as each outcome is cryptographically generated, it is beyond impossible for backers to amend, alter or change the outcome of a game. In the long-term, it is highly feasible that major operators will be a thing of the past. Instead, by combining both smart contract and Ethereum Casino DApp technologies, practically any gaming developer can set up shop in a trust-less environment.