The number of use cases of blockchain technology in the betting and gaming world has boomed in the last few years. It’s become a part of pretty much every vertical going, from land-based casinos all the way to African lotteries.
So, with the industry reaching a level of maturity where we can accurately judge the success of decentralised tech in different situations, we wanted to know, from what you know and have seen, which is the best-placed vertical to use blockchain tech?
We split the options into the broad categories of casino, sports betting, poker and lottery to keep it simple, and the response has been great, with a clear winner coming from it.
The casino vertical dominated the polling, taking 74.2% of the vote. And it’s pretty clear why this came out on top with so many live, functioning projects using blockchain technology in various capacities.
Crypto for speed
At the payments level, the likes of Bitcasino and Cloudbet have become market leaders in providing a premium casino experience, while using cryptocurrency payments to speed up transactions and provide more security. mBit Casino went one step further and dropped all cash payments altogether, making a huge vote of confidence in crypto.
In terms of blockchain’s benefits for provable fairness, Ethereum-powered FunFair has delivered a first-rate platform that guarantees transparency in gaming events, as well as in payouts. Its partner brand CasinoFair has also seen players fly through the door after recent improvements to its wallet and user experience.
Other projects, including CasinoCoin and TRON-based WINk have also shown how decentralised technology can benefit players in different ways. The former is supplying a holistic platform and payments mechanism for the igaming industry, while the latter has leant on the popularity of the TRON network to create one of the biggest gambling communities around.
Blockchain lotteries going global
Lottery is well-known and well-loved in almost every country around the world. And now blockchain has joined the game and is having its own impact.
Coming in second in our poll with just over 11% of the vote, blockchain lottery projects may be less developed than their casino counterparts, but they’re no less ambitious. The first blockchain-based lottery ticket was sold in Africa in 2019. Another project, Quanta has continued to bolster its own operations, and Chinese companies are looking at their own decentralised lottery solutions.
More to come from sportsbook and poker
Coming in third and fourth in our poll were poker, and then sports betting. Despite them bottoming out our vote, we’d argue this is only due to the popularity of casino as a blockchain vertical rather than their own shortcomings.
Companies such as Virtue Poker have leveraged blockchain tech to solve traditional issues with the fairness of online shuffling using a P2P mechanism. This has attracted partners including major pro players, including Phil Ivey, so it’s clear they’re onto something.
In sports betting, we’ve seen the likes of Wagerr prove how decentralised betting can work, while the likes of SportX and exbet.io are delivering pioneering exchange platforms for the crypto space.
Watch this space
It’s clear that the casino vertical is the most obvious use case for blockchain tech. It’s live, it works and it arguably has less complications to overcome with it dealing with RNGs as opposed to PvP and real-life events.
However, the industry is changing at a rapid pace and who knows what projects are coming over the horizon, providing solutions for existing traditional gaming issues, or bringing brand new betting verticals of their own. What we do know is that it’s an exciting time to be in the decentralised gambling space, and we can’t wait for how it plays out in the coming years.
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Thanks to those who voted on our poll last week. For those interested, we’ll continue running a weekly poll every Monday, so follow us on Twitter and stay up to date on all things blockchain and crypto casino.
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