Esports Betting / Discover How to Harness the Power of Blockchain Casino in 2024

Discover How to Harness the Power of Blockchain Casino in 2024

Last Updated on 14/02/2024
Fact checked by: Alyx Tzamantanis

Blockchain casinos offer you a fairer and more secure way of gambling thanks to cutting-edge technology that effectively lets you cut out the middleman. Moreover, if you are looking to bet big, then the blockchain is your friend.

On top of all that, there are other perks of using online casinos powered by the same technology behind Bitcoin, Ethereum and other cryptos. For instance, the games are becoming more high-tech, immersive and engaging – often with user-influenced outcomes that your run-of-the-mill casino simply can’t offer.

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Blockchain online casinos - Key takeaways

  • Your funds are more secure as you don’t have to go through a third party.
  • The casino blockchain is transparent, as anyone can view it.
  • None of your details are made public, so your privacy is protected.
  • The odds and fairness of the games are better
  • Blockchain technology is always evolving to produce a better experience.

Introduction to blockchain - A brief history

The blockchain that we know and love today was first launched in 2009, having been coded a year prior. It was invented by an anonymous inventor who worked under the pseudonym Satoshi Nakamoto. However, the concept on which the modern idea of the blockchain was based was actually introduced years earlier (in 1991) by a pair of computer scientists and soon-to-be cryptographers, Stuart Haber and W. Scott Stornetta.

The first blockchain was launched alongside the world’s first cryptocurrency, bitcoin, and is effectively just a massive digital ledger. More than that, it is a complex and secure transaction recording system that is impossible to hack or steal from.

At the same time, it is also decentralised, and everyone on the ledger has access to all transactional records. However, the records contain no personal or financial details through which the individuals or groups involved in the transactions can be traced.

Effectively, this makes the blockchain both extremely transparent and private at the same time. This is something of an oxymoron, but it’s what makes this technology so special.

Benefits of Blockchain casino sites

The main benefits of blockchain betting sites are to be found in the privacy, security and speed of the technology. When using a blockchain casino, you can place your bet directly from your wallet to the game. This completely bypasses the need to deposit and store money on the casino site itself, which is where the biggest risk of theft comes when gambling online.

In addition to being much safer, there are also fewer limits applied, meaning that larger bets are accepted. Moreover, the operator doesn’t have to pay anything to any payment providers. This means that they have lower overheads, which in turn means more value on your odds and fairer games.

Pros and Cons of blockchain casinos

blockchain casinos
Blockchain casinos: Pros & Cons
  • Fairer games
  • More security
  • Anonymity and privacy
  • Higher limits
  • More value
  • Less market regulation
  • Small transaction fees

How We Ranked the Best Blockchain Casinos

Pretty much all blockchain and NFT casinos in 2024 offer the benefits and perks that we detailed above. Therefore, in order to rate and rank the best ones, our experts here at Strafe have dug a little deeper and looked at the overall gaming experience.

One of the outside advantages of blockchain casino software that we haven’t yet mentioned is the fact that it affords faster game development and ingenuity. You will therefore find unique games on a blockchain site that you might not find at your average casino. But that is just one of the things that we look at when ranking and rating the best crypto casinos here at Strafe.

Overall, we focus on the following categories as part of our review process:

  • Bonuses and promotions
  • Usability, look and feel of the site
  • Payment process
  • Customer service
  • Rewards
  • Products - casino, sportsbook, esports etc.

How to find the best blockchain casino sites

One of the few disadvantages of blockchain crypto casinos is that the market is largely unregulated. You therefore need to be sure that you are using a reputable and trustworthy operator.

And the best way to find reputable operators is by using the reviews here at Strafe. As said above, our experts provide fair and honest reviews following a lengthy and detailed testing process.

While we have ranked the overall best blockchain online casinos and crypto sports betting apps, we also encourage you to consider your own personal taste. That’s why our comparison tool has been designed to help you find an operator with strengths in the areas that matter to you the most.

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What are the main advantages of using the blockchain for online casino games?

We have already spoken about the main benefits of using a blockchain casino over a traditional one. However, below, you can find a little bit more detail about the three main advantages:

Security, transparency and fairness

The blockchain is virtually impossible to hack and none of your details are made available online. However, everyone on the ledger can still view all transactions, making blockchain casino games fairer.

Value and odds

A byproduct of the transparency is fairness, which already encourages operators to offer better value and odds. On top of that, blockchain betting sites have lower overheads, meaning higher odds, better bonuses and bigger betting limits.

Innovative technology

Blockchain technology is constantly evolving, meaning that casinos can offer a more immersive, innovative and social gaming experience. For example, provably fair games like Dice and Crash are becoming more widely available.

How to sign up to an online casino on the blockchain

  1. Open an account by heading to the site and entering the required information. In most cases, you will be required to provide far less than you would with a regular operator.
  1. Verify your account using the link in the email that you should receive once you have confirmed your online account application.
  1. You can now fund your blockchain casino account using your cryptocurrency of choice. If you don’t yet own crypto, you will first need to open a wallet and buy some.
  1. That’s it - you can now start playing crypto gambling games and making use of all the possibilities that your site of choice has to offer.

Future of blockchain casinos

The future is never certain, and past trends have shown that to certainly be true in relation to crypto. However, financial experts have predicted a massive future for the blockchain, as it could fulfil its massive potential to revolutionise global markets and businesses.

Of course, to look at the future of the blockchain application in the online casino world, we have to turn our heads to the use of crypto for day-to-day transactions. Current trends in igaming suggest that more and more users are turning to crypto and the blockchain. Moreover, crypto casinos are gradually becoming more readily accepted by the ‘mainstream’ online gambling community.

Overall, the future looks bright for blockchain gambling.

Strafe’s verdict on blockchain casino sites

To quickly round up our thoughts, the advantages of blockchain gambling are massive. Not just in number, but in unmatchable quality – a fiat currency gambling site will never be able to offer safer or faster transactions. The only major downside is the lack of licensed operators; however, you can overcome this by using one of the legit and recommended operators by our experts here at Strafe.

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Blockchain casino FAQ

⏳ How long do Blockchain deposits & withdrawals take?

Blockchain deposits and withdrawals at crypto betting sites in 2024 are much faster on the whole than they can ever possibly be with a fiat currency like USD. However, the processing times do differ between cryptocurrencies. More information can be found in this article on our website.

🎰How do blockchain casinos work?

When it comes to using a casino with blockchain, you should actually find the whole process to be quite simple. However, we have gone the extra mile for you by asking our experts to explain the inner workings for you in detail here at Strafe. However, there’s no need to worry about tech and crypto jargon here – it’s all been laid out for you in plain and simple English.

The answer to this question largely depends on two things. First of all, where you are located, and secondly, what site you are using. All of the information that you need to know about the bitcoin betting legislation where you are can be found on our website. Additionally, we only recommend legit operators that can legally be accessed in your location.

🏆 What is the best blockchain casino?

If you want to find the best bitcoin and crypto casinos available, then we recommend that you make use of the reviews at Strafe.com. The blockchain gambling experts here have tested out and reviewed all of the best and most legit operators. As well as a detailed written review, you can also find an overall rating for each site.

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