What is an online casino platform?
Before diving into the nuts-and-bolts of currencies, the basic purpose of the casino platform is to present a package of gaming software that allows players to gamble on your website. This involves player registration, and a portal for them to sign-up, deposit funds, play, and withdraw.
It’s important not to confuse the workings of the platform with the gambling packages. Casinos must provide a range of games for players to gamble on. These games are usually sourced from major software developers who have developed online slot games and other gambling tools. The casino’s gaming platform integrates the functions of players’ funds management with the front-end gaming interface, so that players can stake bets in the game of their choice.
What is a Crypto Gaming platform?
The only difference between a conventional online casino gaming platform and the new crypto gaming platform is that players can now do the movements of their funds outside of the banking system, not with credit cards and wire transfers, which are visible both to banks and to the authorities. They can stake units of cryptocurrency that they hold in their casino account, exactly as before when they were staking dollars, pounds or euros. The front-end gambling software needs only to recognize that the stake has a different denomination (say one bitcoin, rather than one dollar). All other functions are exactly the same – bets are deducted from the player’s account when wagered, and winnings are credited back to the account, all in the same unit of cryptocurrency.
How is crypto gaming different from fiat currency gaming?
The most important difference between ordinary currency and cryptocurrency is that all cryptocurrencies are built on blockchain technology, and they are completely outside the supervision of the regular banking system. So a blockchain gaming platform allows people who may otherwise be prevented from gambling with ordinary currencies to enjoy the same activities as other gamblers. The most important thing that gambling with crypto on a blockchain gaming platform brings is complete anonymity. Deposits, bets and winnings cannot be tracked back to the gaming site’s customers.
What is the most popular crypto gaming platform?
Bitcoin is by far the most important and widely known of all cryptocurrencies. The majority of new crypto gaming platforms either started out as Bitcoin gaming platforms and have since spread out to accommodate other cryptos as well as ordinary currencies, or have remained as purely Bitcoin gaming platforms because that is where the market demand remains.
