Legacy Online Casinos are Yesterday. The Future Belongs to The Open Casino Project
Thanks to the emergence of distributed ledger technology, the age of classic online casinos are nearing its end.
In its place could be The Open Casino Project (TOCP), an ambitious undertaking by Bet It All that aims to use blockchain technology in creating a platform fair to all players, game developers, bookmakers, and other parties in the iGaming industry.
Online casino players are edging closer to experiencing a number of advantages in playing on TCOP’s blockchain-powered platform, which they could not enjoy on usual online gaming hubs.
Based on the project’s roadmap, the platform’s Alpha game engine is scheduled for January 2019, only a month away. Meanwhile, The Online Casino Project is projected to be fully open source at the third quarter of next year.
Meanwhile, here are three of the many the benefits players will love in a TCOP online casino:
1| Player Funds Can be Moved in a Snap
In online casinos using fiat currencies, transactions need to go through various checks of the gaming hub and the involved financial institutions like banks. These procedures cause the usual two-day wait players need to endure before loading and emptying their accounts.
Thanks to TCOP’s native crypto, Bet It All tokens (BIAT), all transactions on a TCOP platform occur on the blockchain. Because of that, deposits and withdrawals are significantly faster than those of fiat’s.
2| Registration Made Easy
Betting on most online casinos would require players to submit documents one after the other, which could be time-consuming for most. At the same time, these data—stored by the hub on a server—could fall on the hands of those with malicious intent.
A TCOP online casino, however, will give players more time to play. To enjoy some games on a TCOP platform, players do not need to submit their personal information. This means their data would not be at risk of being stolen. However, this is only possible if regulatory bodies do not require strict identification processes in the future.
3| Transparent Structure Ensuring Fair Games
While most online casinos broadcast the odds and Return-to-Player (RTP) of their games, players do not have the means to verify if the numbers are accurate or not. This leads them to blindly trusting the online casino’s words instead.
That will end when online casinos embrace TOCP. Because they are open-sourced and blockchain-based, games on a TCOP platform can be analyzed whether they are fair or not. With this transparency, software proved to be uneven will be weeded out by the players themselves.
While The Online Casino Project is not yet live, players are invited to play first on Bet It All Casino, an online casino where customers can spin slot titles like Secrets of the Atlantis, Creature from the Black Lagoon, and Gonzo’s Quest.