Blockchain technology brings new life to affiliate marketing--a fact that the iGaming industry must finally acknowledge and fully adapt to.
There is no secret to how blockchain technology has and continues to transform various sectors, from making mundane processes efficient to ensuring a safer environment for both users and businesses.
With blockchain’s integration into the world of affiliate marketing, it is clear how blockchain or decentralized affiliate networks like Attrace RefToken, and Blockverse have made waves in their fields, providing a levelled-up system and experience overall.
And this is the exact reason why the iGaming industry should step up its game and adopt blockchain technology for affiliate tracking.
Advantages of using blockchain casino affiliate platforms
To be fair, there are some casinos and platforms that have already jumped into the idea of utilizing blockchain technology for affiliate marketing. Brands like CasinoFair and Fairspin are some examples of blockchain casinos that offer a decentralized affiliate program.
But while there are the pioneers, more brands must follow soon, and these are the reasons how blockchain will transform the casino affiliate marketing world:
Provide real-time commission payments and reports.
Getting paid on time every month is the standard for the current casino affiliate programs, but blockchain technology enables decentralized affiliate programs to pay their affiliates not just on time but in real time.
With the real-time commission payment set-up, affiliates would no longer have to wait for the promised payday, as well as hope that no external or internal factors would delay payment transfers.
One major reason why affiliates must wait seemingly forever to receive their payments is the very structure of the traditional casino affiliate programs. In such a set-up, there is what we call the middleman that connects the casino to the affiliates. Oftentimes, online casino sites use a third-party affiliate program provider that manages all the processes related to affiliate marketing. Some casinos, on the other hand, manage their affiliates in-house, but are still unable to promise prompt payments, even more so real-time payments.
Similarly, with blockchain technology, production and dissemination of affiliate reports would be just as efficient. Blockchain affiliate programs allow users to efficiently manage their earnings among others. Clearly, this would prevent instances where affiliates would lose access to their reports due to some system errors or upgrades, just as what recently experienced by 10CRIC affiliates.
Guarantee zero negative carryovers.
The mere fact that affiliates will be paid in real-time means that there is no room for the zero negative carryover policy to take effect. This removes the burden from casino affiliates who fail to reach their target for the month.
With a decentralized affiliate program, not only will affiliates receive their payments right away, but they will also receive them directly in their accounts without deductions.
Ensure security, no frauds, and no shaving.
Casino security is one major aspect that earns the trust of both players and affiliates, but ensuring a fraud-free system that goes against stats shaving is a major win for everyone.
Blockchain affiliate programs operate in a trustless environment bound by smart contracts, thereby making all transactions available and transparent. Not only does this mean that you can get a clear overview of your performance, but you can also be sure that the program is not putting you at a disadvantage.
For instance, you can easily spot whether or not the affiliate program is guilty of stats shaving. Case in point: Videoslots, which was accused in 2019 of ‘massively shaving affiliates’ by retroactively reducing affiliate deals.
According to Nate’s post at Casinomeister on February 5, 2019, Videoslots was guilty of not paying their affiliates (which could be prevented by adopting blockchain affiliate programs) and of shaving affiliates of their monthly commissions:
“Videoslots advertises the amount of revenue you can receive, but according to the Audit, these figures are massively misstated and misleading.”
The post further showed that affiliates would receive only a fraction of the advertised revenue share commission, such as:
25% = 3.08%
30% = 3.70%
35% = 4.32%
40% = 4.93%
45% = 5.55%
Blockchain technology, specifically smart contracts, is the perfect answer to stats shaving. How? Smart contracts would adhere to the agreed deal between you and the program, then blockchain’s transparency would allow you to be on top of your stats, as well as receive your payments in real-time.
Why BSV blockchain is perfect for decentralized affiliate marketing
Bitcoin SV blockchain is the best choice of technology to power businesses and enterprises, and in our case, decentralized affiliate programs and networks. Bitcoin SV is founded on four pillars: stability, scalability, security, and safe instant transactions–all of which are essential to make a BSV blockchain-powered affiliate program work perfectly.
Bitcoin SV can handle scale, and is in fact now capable of processing up to 1,000 transactions per second, following the release of Version 1.0.7 this month. With the BSV blockchain’s ability to support 1,000 transactions per second, it becomes the only blockchain capable of handling transactions in the iGaming industry. But that does not end there, because there are plans for Bitcoin SV to further scale in the future.
On top of that, it is able to provide stability to businesses and enterprises, while ensuring a secure environment that can ensure affiliates that they will get paid in real-time and be assured of transparent affiliate tracking.
Meanwhile, if you’re in Europe or North America, check out the upcoming blockchain conferences in 2021 that you can go to while observing strict healthy and safety protocols. You can also check out the benefits of Curv, Technest, and Unbound solutions in the gaming world.
Follow BestBitcoinCasino.com on Twitter for the latest news and developments in crypto and blockchain gaming.
If you’re interested in getting an updated 2021 list of all Bitcoin casino reviews for this market, check out the casino review section.