All Lotteries Are Rigged? Let True Flip’s Blockchain-Based Draws Change Your Mind
January 16, 2019
True Flip is a decentralized platform that aims to offer blockchain-based international lotteries that are honest, transparent, fair, and exciting.
The recurring problem in the online gambling industry involves the lack of trust among participants: casino operators, game developers, affiliates, and players. As a casino player, you would have doubts before signing up with a betting site. What if your funds are not credited or, worse, stolen? What if you do not receive the promised bonuses?
Third-party companies usually come in to lessen your worries. But there comes another problem—hidden fees and higher charges. Sometimes you have no choice but to accept that you would rather pay higher fees in one casino than register with an untrustworthy one.
Luckily, decentralized platforms are making things more reliable for all parties involved in online casinos. One of these platforms is DAO.Casino. Know more about the solution the protocol provides in this review.
DAO.Casino aims to solve common issues in traditional online casino gaming by removing the need for trust among participants. By building a protocol on the Ethereum network, the decentralized platform will automate transactions among industry participants so that there is no need to bring in a third-party company to validate payments, game fairness, and more.
In addition, DAO.Casino hopes to minimize overheads for casino operators, eventually giving players, game developers, and affiliates higher payouts. With an absence of an intermediary, online casino participants get their funds complete. Moreover, the automation of transactions allows payouts to be credited instantly without the need for them to be processed. This is a stark difference from payment providers like Mastercard, Neteller, and PayPal that usually subject withdrawals to processing periods before crediting them to the user.
The platform of DAO.Casino aspires to be an “all-in-one destination” for operators who want to run decentralized gaming hubs. Casinos powered by the protocol are equipped with tools that will help make gaming sessions fuss-free and more fun. Here are the features you can expect when you play in a DAO.Casino gaming hub:
Signing up with a DAO.Casino betting site will bring you to your account page. This section of the casino does more than give you a way to deposit and withdraw your funds. In fact, you can analyze your gaming sessions and get a detailed breakdown of your profits.
DAO.Casino gaming hubs boast a wide selection of games created by different kinds of developers across the world. These titles usually include casino staples like baccarat, poker, and slot games as well as specialty games like keno and scratch cards. All these titles are provably fair, with results recorded on the blockchain.
The casinos running under this platform use BET tokens as a sub-currency for games. It is easy to convert your fiat and crypto coins to this token on trusted exchanges. Plus, all transactions are instant, spanning just a few minutes. You can then check the records of said transactions on the public ledger.
Transactions on DAO.Casino, however, still require fees as gas cost in order for the platform to run. But you can be sure that the fees are lower compared with the charges in traditional online casinos. Moreover, the platform promises that it does not charge hidden fees.
DAO.Casino gives you the choice to be a bankroller, or someone that provides BET tokens to the bankroll of the game. By doing so, you can help the game operate for more players to stake their funds on. You then receive BET tokens as a reward for backing the game’s bankroll.
Participants in the online casino space—operators, developers, players, and affiliates—usually find it hard to trust each other given that they had to rely on third parties to fulfill transactions for a higher price. This is no longer the case on betting sites running on the DAO.Casino platform. With automated and instant transactions the platform providers, participants can simply act on their own without asking for check and balances from other parties.