Blockchain casino game terminals have launched
SmartPlay has announced the launch of their SmartBox gambling machines powered by Ethereum smart contracts. The SmartBox has been labelled the world’s first Ethereum-based gambling machine and promises users ‘provably fair’ gambling.
The machine also offers players the chance to receive unlimited bonuses, not only from the bets they make, but also from all subsequent bets made by other players. The SmartBox is based on the software mechanics of SmartPlay’s product, SmartRoulette which raised a whopping $1,000,000 in ICO funding at the beginning of 2017.
The emergence of crypto gambling
Gambling with cryptocurrencies has been around since 2012 when SatoshiDice, a Bitcoin gambling site, first emerged on the scene.
Over the last five years, the acceptance of gambling with cryptocurrencies has grown quickly and a number of online casinos now offer players the chance to deposit and withdraw balances using cryptocurrencies.
The increased acceptance of cryptocurrencies by online casinos has also challenged regular ‘brick and mortar’ casinos to start to embrace the opportunities that are provided by cryptocurrencies and blockchain technology.
Smart contracts provide a completely new solution to the gambling industry with algorithms used to create traditional slot machine processes. Of course, smart contracts cannot be changed and once on the blockchain as it guarantees the permanence of the data and the game code.
Such features are incredibly attractive for players who have been unconvinced with the integrity of online casinos and feel much happier gambling with games that cannot be tampered with. As the SmartBox is powered by Ethereum smart contracts, players will be able to see how the result of each bet is generated. The game process and random number generation are completely transparent and the SmartBox achieves complete immutability and random result generation.
Outlook for SmartBoxes
It is expected that the production of these SmartPlay’s gambling machines will become a real breakthrough in the gambling market. The company are planning to launch a mass production of their blockchain machines and go on to conclude a number of agreements with a number of casino’s around the world.
Undoubtedly, the introduction of such a novelty in traditional gambling establishments will attract a number of new visitors. But ultimately, much will obviously hinge upon whether they prove to be popular with players and profitable for casino operators.
SmartPlay unveiled a demonstration model at the Blockchain & Bitcoin conference on 15 November and pre-orders can now be made on the Smartplay website.
Prices start at $4,000.
Check out their website, here.