You may have tried your luck at casinos, playing poker, blackjack, or enjoying the slot machines. You aren’t alone, with millions of people spending money enjoying these games as well! In fact, casinos were one of the popular types of entertainment before the Internet and computers came along.
Regardless, casinos and gambling continue having a wide audience, loving the thrill of the winnings! As the global gambling market continues to reach billions of dollars in value, it will only continue growing no matter the time.
Speaking of the popularity of the Internet, crypto casinos are also further growing! The same goes with blockchain casinos, which are a small part of the market but developing well.
But what is the difference between a crypto casino and a blockchain casino? This article will talk about what these are and how they differ from one another.
What is a Crypto Casino?
Cryptocurrency casinos are based on online platforms, accepting cryptocurrency payment methods. These are known for operating on popular cryptocurrencies like Bitcoin, Ethereum, among others.
Think of it as your typical regular casino, whether online or physical, though its unique feature is that they accept fiat and digital currencies.
What is a Blockchain Casino?
Blockchain casinos operate just like your typical casino, but they run on blockchain entirely, thanks to blockchain technology. Digital systems would be created, recording information on everything related to gambling transactions. These platforms have extreme security measures for all transactional data, so it is impossible to try hacking or cheating into the online casino.
Think of it as an online casino with digital ledgers of transactions, which would distribute to a network of nodes.
Differences Between Crypto and Blockchain Casinos
Now that you know what a crypto casino and blockchain casino are, how do they differ?
They do perform similarly, but there are two major differences that set them apart:
Crypto casinos have a ton of casino games available for players to enjoy. From the slots to the typical table games, you’ll find what you usually play in a regular casino.
With blockchain casinos, they actually have a limited selection. Furthermore, the games and rules would be controlled by game providers and/or crypto casinos. This is what determines players’ payouts.
With blockchain casinos, there is no control over the payouts, making it challenging to back up the win rates that many crypto casinos would claim.
Transparency is what keeps cryptocurrency transactions alive, a major contributor to its popularity. Experts in the gambling industry believe that such currencies from digital casino transactions reflect one of the highest transparency levels.
Blockchain casinos are better in this sense compared to crypto casinos, as all transactions are transparent and visible. All players have the ability to monitor their deposits, earnings, and withdrawals from the blockchain system. This system can’t be hacked into or cheated on.
Blockchain casinos make their systems even more transparent for their players by offering accurate information on the casino operations and payments. Players can check if blockchain casinos have paid their players correctly, based on offers and/or promotions coming with big (or small) monetary winnings.
As for crypto casinos, the transparency levels would surpass the payment flow inside and outside casinos. They accept fiat currencies like US dollars and Euros, so this makes it technically difficult to offer full visibility and transparency on transactional data.
That said, we can see that blockchain casinos are a more trustworthy option compared to crypto casinos. They have a system that doesn’t only remain transparent but also eliminates the risk of any cheating. However, crypto casinos would keep players engaged even more so than blockchain casinos.
Similarities Between Crypto and Blockchain Casinos
How about what makes them so similar?
Well, besides the differences mentioned above, crypto and blockchain casinos are actually pretty much the same. They operate online and attract people through digital means, not having any physical establishment in many countries.
The casino regulations for these digital casinos are still being worked on, with some countries considering them illegal. But as these platforms continue to grow, such regulations may change over time.
That said, there are a few players that gamble online and find their way around these rules and laws.
For instance, in Sweden, both land-based and web-based gambling is legal but controlled by the Svenska Spel. However, it is possible to play at a casino without any registration, with people looking into casino utan registrering methods and the like.
Besides this, one other similarity is that both types of casinos would accept cryptocurrency as valid payment methods. Crypto casinos can accept fiat and cryptocurrencies, though blockchain casinos only accept crypto transactions. Furthermore, these types of casinos have the same gaming variations, operating such games under standard rules that are set by each country’s casino regulatory authorities.
You can learn more about such gambling regulations from the author, Dominic Andreasson, who discusses the gambling industry in detail. You can view his profile here.
Which is Better?
Crypto casinos are more popular compared to blockchain casinos. As mentioned, there is better player engagement, providing a fun platform for gambling, lotteries, and playing games. This type of digital casino offers a host of advantages that make them more sought-after, such as:
- All player information and identities are undisclosed, with all strategic data hidden from any competitor.
- They offer a wide variety and selection of casino games, which increases the engagement rate.
- There are NO fees on crypto transactions. These casinos actually help their players earn without gaining a commission from it.
- All transactions players make are free and unlimited.
But, of course, we can’t downplay the advantages of blockchain casinos, which feature dApps and codes for fair and transparent gambling experiences. If you are wary about your safety and privacy and want the assurance of fair play, then blockchain casinos are the best choice, though it may be repetitive with a limited variety of games.
Wrapping It Up
Hopefully, you received more insight into the digital casino industry. Get to learn more about this area, whether you plan on investing in the business or playing the games!
Founder Dinis Guarda
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