Blockchain

Blockchain casino: the future of online gambling or a short-term trend?

Published

2 years ago

April 4, 2022

Reading Time: 3 minutes

The cryptocurrency market has experienced tremendous growth in recent years. As blockchain technology advances, there are more and more options for its application — and iGaming is at the top of the list.

Compared to fiat currencies, cryptocurrency turnover is still low. However, if we analyze the Google trends data for the query “bitcoin casino,” a steady growing interest in the topic can be seen. There are a few factors that contribute to the popularization of the iGaming trend.

The iGaming industry is always on the cutting edge of innovation. But what impact have cryptocurrencies and blockchain technologies had on the evolution of the industry, are these changes positive, and how will the industry develop in the near future?

Representatives from Slotegrator, which has been developing software for the gambling business for more than 10 years, have addressed some of these issues.

How do blockchain casinos work?
Blockchain technology provides a high level of encryption. Every transaction is added to the ledger, which is an immutable block of data, and verified by a decentralized blockchain network. Transactions take place directly between crypto-wallets, prohibiting the involvement of a third party, so it minimizes the possibility of fraud and eliminates the need to pay a commission for the transfer.

While national currencies are backed by a state, cryptocurrencies are supported by a decentralized ledger that records every transaction. The ledger is distributed over a large database with a million copies. This has a few consequences: firstly, anyone who has access to the network can verify the transaction; secondly, the history of a bitcoin cannot be faked. Any attempt to falsify a single block will affect every block in the network. The transparency and security of decentralized public records are a huge selling point for many players.
In crypto casinos, blockchain technology is used at the development stage, allowing automated payments using smart contracts. But opening a purely blockchain casino could restrict operators to those games that are also developed on the basis of blockchain technologies. On the other hand, more and more gambling sites are accepting payments in cryptocurrencies alongside existing fiat currencies. This gives them the opportunity to reach a wider audience.

Slotegrator’s Bitcoin Casino is an innovative type of gambling platform with integrated cryptocurrencies that guarantee high transaction speed and secure payments.

Why do players and operators like crypto casinos?
There are plenty of reasons why operators are opening crypto casinos — and why players are flocking to them.

Operators see the value in crypto casinos because cryptocurrencies are secure, transparent, and popular with their target audience. Players are drawn to crypto casinos by the security and transparency as well, but they also value the speed, anonymity, and decentralization.

Furthermore, crypto casinos often feature smart contracts, which automate payments, and provable fairness, which automatically verifies the results of a game. For many players, this definitely creates a heightened sense of trust.

Withdrawal speed is also important for players. Most payment methods involve a third party, like a bank or a payment service provider. This means that when players request a withdrawal, it can take hours or even days. Cryptocurrency withdrawals, however, occur wallet-to-wallet, and sometimes take just minutes to register.

Are there any disadvantages to crypto casinos?
Crypto casinos are still a relatively new phenomenon, so as of yet, there is very little legislation — in any market — that explicitly applies to them.

Gambling regulations usually focus on the following areas:

• Operator transparency
• Anti-money laundering (AML)
• Combating the financing of terrorism (CFT)
• Fraud deterrence
• Responsible gambling

However, due to the increased anonymity that cryptocurrencies promise (the address of the wallet is stored in the blockchain, but not the name or email address of the holder) governments could potentially see cryptocurrency gambling as an avenue for illicit funding and move to introduce more legislation in the future. For now, however, that doesn’t seem likely to happen anytime soon.

Another potential downside is the volatility of the currency. The spikes and dives in the price of Bitcoin, Ethereum, and others have kept investors’ hearts in their throats in recent years. Fluctuations in price could add an element of unpredictability to operators’ balance sheets.

Overall, however, the advantages of a bitcoin casinos far outweigh any potential disadvantages.

What are the projections for the future?
Considering the prevalence of cryptocurrencies, we can expect the number of new blockchain casinos to keep rising. Gambling platforms, as a rule, follow the preferences of their users in all respects: the diversity of gambling content and its providers, the quality of service, compatibility with mobile devices, the bonus system, and so on. Due to the regulation of gambling activities in different countries, payment methods are a key factor in attracting and retention of players.

The future of iGaming clearly includes the trend towards the adoption of bitcoin as a means of payment and deposit. So, the demand for blockchain casino development will be relevant in the long term.

Blockchain

HIPTHER Announces Major Expansion into Fintech, Blockchain, and AI, Reinforcing Its Position as a Diverse Industry News Leader

Published

4 months ago

January 9, 2024

George Miller

hipther-announces-major-expansion-into-fintech,-blockchain,-and-ai,-reinforcing-its-position-as-a-diverse-industry-news-leader

Reading Time: < 1 minute

Building on its established success in the gambling and iGaming sectors, HIPTHER Agency is excited to announce a significant expansion of its editorial focus into three dynamic industries: fintech, blockchain, and artificial intelligence. This strategic move is part of HIPTHER’s ongoing commitment to providing comprehensive, in-depth coverage across a spectrum of industries, including virtual reality, esports, and official global government releases.

Focused Expansion for a Diverse Audience

The expansion into fintech, blockchain, and AI represents HIPTHER’s dedication to staying at the forefront of technological and financial advancements. By integrating these sectors into the HIPTHER .com platform, the agency offers its audience a rich, diverse content experience, positioning itself as a one-stop destination for insights across these cutting-edge fields.

Enhanced Digital Presence and Accessibility

Complementing this expansion, HIPTHER continues to enhance its digital footprint. The agency’s Android app has already established a strong user base, and with the anticipation of an iOS app in 2024, HIPTHER is set to broaden its reach and accessibility. The agency’s social media channels are also being rebranded to reflect this expanded focus, ensuring a cohesive and comprehensive digital experience.

Unwavering Commitment to Quality and Insight

HIPTHER, known for its high-quality content in the gambling industry, extends this commitment to its new sectors. The agency’s team of experts and seasoned journalists is dedicated to delivering insightful, accurate, and timely information, catering to the needs of a diverse, global audience.

Zoltan Tundik, Co-Founder and Head of Business at HIPTHER, states, “Our expansion into fintech, blockchain, and AI is a natural progression of our mission to provide diverse, in-depth industry news. We’re excited to bring our expertise and quality content to these vibrant sectors, while continuing to serve our existing audiences with the coverage they trust.”

For more information, please visit HIPTHER.com

Blockchain

Empowering Women in Web3: Polish Blockchain Association’s Exciting Initiative

Published

4 months ago

December 18, 2023

George Miller

empowering-women-in-web3:-polish-blockchain-association’s-exciting-initiative

Reading Time: 2 minutes

Hipther proudly announces the commendable initiative by the Polish Blockchain Association: the “Top Women of Web3, Central and Eastern Europe edition.” This groundbreaking effort aims to spotlight and celebrate the outstanding contributions of women shaping the Web3 landscape in Poland and the broader Central and Eastern European region.

Diversity as a Driving Force

Recognizing the transformative power of diversity, the Polish Blockchain Association acknowledges the invaluable impact women are making in the Web3 and blockchain industry. Despite these significant contributions, women remain underrepresented in the public sphere of the industry, particularly at conferences, webinars, and other events. The initiative seeks to address this imbalance and bring more visibility to the achievements of female colleagues in the region.

Nominate Outstanding Women

If you share this commitment to fostering diversity and inclusivity, we invite you to participate in this empowering initiative. Nominate outstanding women who have had a direct impact on the Web3 space over the past year. Whether it’s yourself or a colleague, we want to hear about the remarkable women shaping the industry in Central and Eastern Europe!

To nominate, simply visit the nomination page. The deadline for submissions is December 31, 2023, and the winners will be announced in January 2024.

Recognition and Rewards

The Polish Blockchain Association will select 20 outstanding profiles from the nominations, and the winners will be featured in a special report. This report will not only be published by the association but, subject to consent, will also be made available to conference and event organizers. This initiative aims to increase the visibility of women in core industry events as speakers and contributors. Additionally, winners will receive free tickets or discounts to attend the next year’s Tech of Tomorrow Conference, organized by the Polish Blockchain Association on September 19-20, 2024.

Inspire the Next Generation

By showcasing the diverse talent in the Web3 space, we aspire to inspire the next generation of leaders. Join the Polish Blockchain Association in supporting and recognizing the women who are driving innovation and excellence in the blockchain and Web3 industry.

Hipther is proud to stand alongside our Strategic Partners, the Polish Blockchain Association, in communicating this impactful initiative. Let’s work together to create a more inclusive future for the world of technology!

The Polish Blockchain Association is a non-profit organization fostering knowledge and experience exchange in the area of blockchain technology. Their mission is to connect experts, developers, enterprises and tech enthusiasts, and serve as a collaboration-enabling platform for the whole Polish and global blockchain community. Under the scope of this mission, they have joined forces with Hipther as Strategic Partners for the most impactful GameTech in-person gathering in CEE, the Prague Gaming & TECH Summit.

Blockchain

Oddin.gg Teams Up with Betswap: Pioneering a Hybrid Esports Betting Experience with Advanced iFrame Tech!

Published

6 months ago

October 19, 2023

Gaspar Incze

oddin.gg-teams-up-with-betswap:-pioneering-a-hybrid-esports-betting-experience-with-advanced-iframe-tech!

Reading Time: 2 minutes

Oddin.gg has announced an exciting new partnership with Betswap, a leading destination for sports and casino enthusiasts. This collaboration aims to enhance the esports betting experience for Betswap and its user community by utilizing Oddin’s advanced iFrame
technology.

The first blockchain based exchange rate platform Betswap emerges as a groundbreaking platform that seamlessly blends the worlds of sports betting, casinos, and esports. Pioneering a novel approach, it’s both a decentralized and centralized hybrid, allowing users to experience the best of both worlds. The incorporation of the Oddin’s iFrame functionality extends Betswap’s reach to capture the attention and engagement of esports enthusiasts, gamers, and bettors alike.

Marek Suchar, Managing Director and Co-founder at Oddin.gg, says: “We are absolutely thrilled to announce our partnership with Betswap.gg, where we are harnessing Oddin’s sophisticated iFrame technology to enhance the esports betting experience. Together, Oddin.gg
and Betswap.gg stand ready to adapt swiftly to the dynamic changes introduced by CS2, showcasing our commitment to providing comprehensive coverage of the inaugural official CS2 matches. We stand at the vanguard of technical innovation with our esports betting solution, and we are honored to collaborate with a similarly pioneering technological firm that is actively exploring new horizons in the realms of blockchain and web 3.0 technology.”

Thawfeek Ameen, CMO at Betswap, comments: “In partnership with Oddin.gg, Betswap is thrilled to announce the integration of their avant-garde iFrame solution into our platform. Having meticulously prepared together, we’re poised to seamlessly navigate the pivotal transition to Counter Strike 2. This groundbreaking addition is set to redefine the esports betting landscape, taking our platform to unprecedented heights and providing our users with a superior esports betting experience. Beyond just functional enhancements, this collaboration is aimed at boosting engagement and attracting the new generation of esports enthusiasts. Our partnership with Oddin.gg perfectly encapsulates our unwavering commitment to excellence, further cementing our position in the rapidly expanding global arena.”