Gambling in the blockchain world

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Gambling in the blockchain world
« on: November 20, 2019, 02:56:59 PM »

Written by “makarid”

KYC, Confiscation, Restriction, AML are the most popular words in today’s gambling industry. Every year more and more regulations been created for and by the governments in order to get a bigger piece of the gambling pie. They are doing that in collaboration with the bookmakers at the expense of the player. As you all know, more and more countries restrict, forbid, or tax any gambling-related activity. Because of that, the player is getting worse and worse odds in order to bet on his/her favourite team. I believe that this is irrational, and all people must have access to fast and restriction-free gambling.

With the help of blockchain technology, we are one step close to achieving this restriction-less future.

Read full article here: https://arbusers.com/portal/gambling-in-the-blockchain-world/

Feel free to post your comments.
« Last Edit: November 20, 2019, 03:32:43 PM by arbusers » Logged
tomkruiz
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Re: Gambling in the blockchain world
« Reply #1 on: November 20, 2019, 06:30:16 PM »

Great article and great potential in blockchain technology. However, as I have previously stated in the other thread, I don't feel like we're there yet, as cryptocurrencies are highly volatile. Moreover, I remember a situation from around two years ago, when the Ethereum network was renedered completely useless by a silly game called "CryptoKitties". You can read more on that here: https://www.bbc.com/news/technology-42237162. Now imagine being unable to place a bet in a timely manner due to a network congestion...
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testez
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Re: Gambling in the blockchain world
« Reply #2 on: November 20, 2019, 06:58:56 PM »

the tech is here to stay, gambling companies already testing the waters.Lots of basic gambling daps already running on various blockchains, but dont be naive to think everything is going to be superdupernice for us.
whats not regulated today can be very easily regulated tomorrow.
why would you assume that betting companies will leave all the control and edges they have over the player base just to jump on the new nerdish thingy called blockchain.
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ilovethisforum
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Re: Gambling in the blockchain world
« Reply #3 on: November 20, 2019, 11:52:52 PM »

Great article and great potential in blockchain technology. However, as I have previously stated in the other thread, I don't feel like we're there yet, as cryptocurrencies are highly volatile. Moreover, I remember a situation from around two years ago, when the Ethereum network was renedered completely useless by a silly game called "CryptoKitties". You can read more on that here: https://www.bbc.com/news/technology-42237162. Now imagine being unable to place a bet in a timely manner due to a network congestion...

Scalability is indeed the number one problem that developers are working on. Two years is a long time in blockchain industry. Ethereum will upgrade their network in a new Proof of Stake algorithm with new scalability capabilities. We do not know if it will be better, but they are doing their best on improving the network. More that 3000 people are developing just on the Ethereum network itself. I believe in 1-2 years from now these problems will be fixed, at part.
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ilovethisforum
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Re: Gambling in the blockchain world
« Reply #4 on: November 21, 2019, 12:05:52 AM »

the tech is here to stay, gambling companies already testing the waters.Lots of basic gambling daps already running on various blockchains, but dont be naive to think everything is going to be superdupernice for us.
whats not regulated today can be very easily regulated tomorrow.
why would you assume that betting companies will leave all the control and edges they have over the player base just to jump on the new nerdish thingy called blockchain.

We are not talking about the traditional bookies here. With this tech you can be the bookie. You can provide liquidity in the market with the help of bots and get a spread because of that. You need no licence and it will not needed at least in the next 10 years. It isn't easy for governments to regulate this king of software-network. Take Facebook for example, the company is 10 years old or more but government is trying to regulate it in the last year. They can do it much easier because Facebook is a company with real address and legal status, but still they don't. Now imagine to try and regulate a network of people which are using a cryptocurrency in order to transact themselves, which is decentralized and cannot be confiscated, they do not have an address and neither legal status. In reality the network is a bunch of computers that talked to each other, please try and regulate that. Of course it will not "destroy" the traditional bookies or stop the way that we are doing business. It is just another way to bet on sports without worry of closing your account,confiscate your money, send them your selfies and all these ridiculous staff that we are obliged to do,in order to place a bet.
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Trevorr
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Re: Gambling in the blockchain world
« Reply #5 on: November 21, 2019, 04:52:58 PM »

I think it won't help the average guy from here. Only big very sofisticated guys could profit from it. There would be really big competition and much smart money on networks like that. You need money from bad punters. You need traditional bookies where you can get easy money. In highly competitive networks it would be tough. It's like try to make money in online poker now. When you competite face to face to other person it's much more challenging.
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campeones
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Re: Gambling in the blockchain world
« Reply #6 on: November 21, 2019, 05:17:27 PM »

I think it won't help the average guy from here. Only big very sofisticated guys could profit from it. There would be really big competition and much smart money on networks like that. You need money from bad punters. You need traditional bookies where you can get easy money. In highly competitive networks it would be tough. It's like try to make money in online poker now. When you competite face to face to other person it's much more challenging.

You are absolutely wrong here.
Do you think all cloudbet players are sophisticated guys? Absolutely not. Some of them might be sharks but there is a huge pool of small fishes who are playing there for their own reasons.
If you search in arbusers and elsewhere you will find at least 10 BTC bookmakers that can be listed as reliable. Of course, you can find unreliable too, but let's stay with these 10 reliable books. From my own experience and from what many traders are saying, lines move much slower in these BTC bookmakers. That proves that the average player there is not so sophisticated compared to the traditional clever bettors who will bet in bet365 and willhill with the help of RebelBetting and BetBurger.
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Trevorr
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Re: Gambling in the blockchain world
« Reply #7 on: November 21, 2019, 05:34:00 PM »

I think it won't help the average guy from here. Only big very sofisticated guys could profit from it. There would be really big competition and much smart money on networks like that. You need money from bad punters. You need traditional bookies where you can get easy money. In highly competitive networks it would be tough. It's like try to make money in online poker now. When you competite face to face to other person it's much more challenging.

You are absolutely wrong here.
Do you think all cloudbet players are sophisticated guys? Absolutely not. Some of them might be sharks but there is a huge pool of small fishes who are playing there for their own reasons.
If you search in arbusers and elsewhere you will find at least 10 BTC bookmakers that can be listed as reliable. Of course, you can find unreliable too, but let's stay with these 10 reliable books. From my own experience and from what many traders are saying, lines move much slower in these BTC bookmakers. That proves that the average player there is not so sophisticated compared to the traditional clever bettors who will bet in bet365 and willhill with the help of RebelBetting and BetBurger.
I think he is not talking about BTC bookies, but about some BTC exchange technology, where you create market with others.
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ilovethisforum
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Re: Gambling in the blockchain world
« Reply #8 on: November 22, 2019, 05:55:08 PM »

I think it won't help the average guy from here. Only big very sofisticated guys could profit from it. There would be really big competition and much smart money on networks like that. You need money from bad punters. You need traditional bookies where you can get easy money. In highly competitive networks it would be tough. It's like try to make money in online poker now. When you competite face to face to other person it's much more challenging.

The average guy will get helped because the odds will be much better for him if he will bet from the bookie pro app for example. He will just need to download the android or iOS version on his phone and he could bet without any documents or verifications. Of course this is not an easy transition, because they will need to buy bitcoin first. I also believe that the competition will be hard and many big players will come to get a piece of the pie. Competition is a double edge sword, but it is inevitable in any market. Let the best win.
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Wolfie
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Re: Gambling in the blockchain world
« Reply #9 on: November 23, 2019, 09:19:17 AM »

With passing of time bitcoin will be more accessible. Lighting network has already put fast transactions. If bitcoin bookies start using lightning than deposit and withdrawals will be instant. With this system people can bet with smart contracts without depositing to btc exchange at all.
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JamesMiller
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Re: Gambling in the blockchain world
« Reply #10 on: April 03, 2020, 12:21:26 PM »

I’m not much for online gambling personally, but I’d love to invest in this industry. The online gambling industry is huge and I think Blockchain could really bring both transparency and trust back to it
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he kang
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he kang

Re: Gambling in the blockchain world
« Reply #11 on: April 14, 2020, 12:40:38 PM »

really cool,I think,in the future
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