Blockchain’s innovative technology characteristics make it a useful infrastructure used by many different industries. It has been adopted and used by healthcare, supply chain and government institutions, but it is also the infrastructure itself when it comes to banking and finance with the growth and maturity of cryptocurrency exchanges and trading. With the transparency and decentralization of this technology, blockchain might soon become the most appropriate fit for the casino industry too.
Has gambling come full circle?
Gambling and casinos have changed much over the years. As brick and mortar venues, they are places that would seek to inspire players into staying longer, gambling more. Even the sound of coins tumbling out of a slot machine are manufactured to encourage players to gamble more and for longer.
But that image is only part of the greater story of gambling. Its origins, from the ancient civilisations of China and Rome were primarily focussed on the interaction between players; for instance, one player taking money off another. And this notion of players winning off another was the story up until the 19th century when gambling houses sprang up around Europe. Casinos became the place to game and wager money and that situation remained until digital casinos sprang up.
Blockchain in the room
Bitcoin is a much talked about and hyped topic, but the technology underpinning it has the potential to build solutions that have a pertinent application to the gaming industry. We’re not just talking about how bitcoins might be accepted at casinos or on slot machines, but in solutions that can make the gaming industry more transparent, fair and user-led.
While digital casinos have evolved and become a bigger part of the industry than even brick and mortar places, online gambling has evolved from multiplayer poker to betting exchanges, demonstrating that a huge part of the industry has returned to the player versus player interaction.
Blockchain’s role in this can instantly be seen as making the games themselves fairer, with every spin or turn of the card tracked through blockchain with each recorded in the blockchain providing further verification of fairness.
Can games like blackjack be improved with blockchain?
Gaming is fun when gaming is perceived to be fair and there are always newer games coming out that try to change the status quo of traditional games and offering more chances for players. Take Blackjack Perfect Pairs online from Kitty Bingo, transforming the standard game of blackjack and offering even more interaction with side bets and instant and separate wins regardless of the outcome of the final cards.
But what if it went one step further?
Take blockchain technology one step further and it isn’t just about fairness and traceability, but also with social interaction, player versus player features and minimizing the house edge. Blockchain also has key adaptability in ensuring payouts and deposits are smoother and quicker too.
Ultimately, the pinnacle of this would be a casino that has no edge, taking only small payments from player deposits. But in table games like roulette, baccarat or blackjack, replicating the social environment of a community table isn’t always possible or preferred by players. Many of them still seek out more entertaining ways in which traditional games are presented with the ability to swap and change games at a moment’s notice. All much easier online than in a casino.
But the way blockchain has worked for other industries, as well as pushing into the arena through revolutionizing the way bitcoin can be used to deposit and withdraw, will also be true for increasing the way the games themselves are viewed as more fair, more social and reducing the edge for players, without whom, there would be no industry.