From Metaverse Casinos to Blockchain Games

Crypto casino games are on the rise. There are even casinos in the metaverse. Things move fast in online gambling. We break it down for you.

The metaverse called Decentraland is now home to the Holy Temple Casino. The 42-parcel property will have one of the largest footprints in the virtual world. Launched by a company called Metaskins, the casino hopes to be a destination for gaming, parties and entertainment. Games include a metaverse lottery and card games including blackjack. In addition, there will be scavenger hunts, which can earn players tokens which they can then use for more games. Players can bet against each other or against the house. To play, you need to buy the original token, MANA. Enter here.

This is not the only metaverse casino. In some other iterations, you can not only bet, you can also buy land in some casinos. If a high-paying blackjack table is on your land, you get a share of the profits.

Crypto Casino games are popping up everywhere

An astonishing variety of online crypto casino games have emerged in recent years. Some of these have been rug pulls, where punters hand over money and never see it again.

Others are legal, but as always the odds are stacked against the player and the profit goes to the house. In this way, gambling must be seen only as entertainment, where you can pay a lot to be “entertained”.

But it may not all be risky and scam-infested. New types of cryptocasino games are making themselves known. These use blockchain and Web3 to gain public trust.

Web3 Crypto casino games

The idea that anything to do with crypto can make betting safer may seem crazy. However, the development of decentralized blockchain-based Web3 technology is moving forward.

Platforms are being created that allow users to own their own data and assets, instead of handing them over to companies. The blockchain does this in an environment that is open, trustless, decentralized and transparent. This can solve many of the problems with Web2 platforms.

Despite the fact that gambling is completely legal in many places, people still spend billions of dollars on unregulated offshore sites.

This leaves players as sitting ducks for bad actors. Such sites can disappear overnight, along with players’ crypto.

Blockchain games

Carlos Liang is the CEO of Divvy.bet, a betting site that uses the blockchain. Liang says: “Users of blockchain-based betting platforms have no bad guys to worry about. Each transaction is governed by a smart contract, an immutable, autonomous program that operates according to the terms agreed upon by the user.”

Liang says that instead of handing over crypto to a third party, all players need to do is connect their own crypto wallet to the protocol. “Cutting out the middleman in this way leads to a vastly improved, more frictionless user experience. There is no more disclosure of private data, no more exorbitant withdrawal fees, no more worry about manipulation of spreads by sportsbook companies.”

Platforms like Divvy.bet that use Web3 protocols give users full transparency about the game pots they use. This enables players to manage their risks more effectively.

Says Liang: “You’ll be able to see your money, have full control over it when bets are settled, and know there’s enough money in the house to pay you out. It’s a big improvement on traditional sports betting platforms, which are effectively a black box in terms of how your funds are spent and how much liquidity is available.”

Other Blockchain Gaming Sites

Another blockchain crypto betting site is Betswap.gg which is built on the Polygon blockchain. It is a peer-to-peer decentralized sports trading exchange, and uses a native token, $BSGG. The company says it has reworked the traditional betting model to create a betting exchange where users bet against each other rather than against the platform.

“Participants can choose to be a better or a bookmaker, with Betswap.gg offering a transparent betting model with no hidden fees and minimal gas fees. Betswap.gg does not require users to go through a tedious onboarding process. All you have to do is connect wallet, and within minutes you can start betting.Betswap.gg does not take custody of users’ funds at any time, allowing players to place individual bets directly from their wallet and withdraw their winnings seamlessly, safely and instantly.

Crypto casino games and influencers

As crypto casino gaming sites have emerged, influencers are paid to play the games and live stream to their audience. What you’ll find buried deep in the disclaimer, however, is that these influencers have gotten their money’s worth, in addition to getting huge payouts for streaming their content.

Max Maher runs a channel with almost one million subscribers. He says: “Many streamers regularly give disclaimers when they talk about the dangers of gambling. However, streamers are paid absurd amounts of money just to play games on these sites. Streamers often get the money they gamble with – they don’t gamble with their own money. This of course motivates the streamers to be more ruthless in the game.”

A Youtuber has anonymously said on Maher’s page that he gets paid a million a month to stream casino games. Maher says streamers fall into temptation and take the deals regardless of how morally conflicted they may feel about it.

It is still the job of the viewers to make responsible decisions. However, these streams reach children, especially on platforms such as Amazon-owned Twitch, which is full of children. However, the platform has started cracking down on unlicensed gambling sites.

But if you like a gamble and you want to play online, you’re one search engine query away from millions of options.

Or you can just stick to trading crypto in a bear market. That is a chance in itself.

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Disclaimer

All information on our website is published in good faith and for general information purposes only. Any action the reader takes on the information contained on our website is strictly at their own risk.