Provably Fair Gambling: How it Makes Crypto Gambling Fair
Gamblers have to depend on casinos to be transparent and unbiased. But how can players trust something they cannot verify? After all, an impeccable reputation doesn't guarantee that the casino doesn't exploit players. Thankfully, there’s a solution, and it’s called provably fair gambling.
The provably fair technology ensures crypto games are fair. So, what lies behind this technology, and how does it improve transparency?
What are provably fair games in simple terms?
Provably fair games use blockchain-based algorithms to help players verify that there’s no cheating in their games. This technology is often found in online casinos that allow gambling with cryptocurrency, whose players tend to choose online casinos with provably fair to ensure the games they play are transparent.
The technology behind provably fair online gambling
Provably fair online gambling has many implementations, but the basics are essentially the same everywhere. The algorithm generates and sends each player hashed game results before they place their bets. After the round is over, the players can unhash the file and compare it with the results they got.
The technology relies on three elements to generate the results:
- Server seed — a variable provided by the server (in this case — a blockchain casino)
- Client seed — customizable variable created by the client side (the gambler’s browser or application)
- Nonce — a random number that increases by one every round
Now, let’s see how these variables interact with each other in provably fair bitcoin games.
- The casino's server collects the client seed from the user. The players can customize the client seed to ensure the provably fair casino can’t predict it.
- The provably fair algorithm combines client seed, a server seed, and nonce to generate results. At the same time, the algorithm encrypts the data with a hash algorithm that turns it into a set of numbers and characters.
- The casino passes the hashed file to players. At this point, each participant has an encrypted file containing the round's outcome.
- The nonce number increases with each round. This ensures that the results of provably fair crypto games are random.
- Players receive an unhashed file at the end of the gambling session. Players can then use free tools to convert encrypted data into a readable format and compare it with the results on the website.
In short, provably fair ensures that casinos can't tamper with outcomes. And now, let's see how it enhances the user experience.
Advantages of provably fair crypto-games
Provably fair crypto gaming comes with a wealth of benefits. They include:
- Transparency — Players get the results of each round beforehand and can easily verify outcomes after the session. There’s no way for the casino to modify outcomes without being detected.
- Higher returns — Casinos with a greater advantage over players have lower return to player rates (the money received for each dollar spent). But given that provably fair casinos can’t cheat, their games give gamblers a higher chance to win.
- Instant payouts — Reliable crypto gambling platforms with provably fair often use smart contracts to transfer funds. So, players can receive their money immediately instead of waiting days for their funds to be processed.
- Anonymity — Decentralized provably fair BTC casinos support anonymous betting; people don't have to prove their identity to deposit or withdraw money. This also helps people worldwide to play regardless of their local regulations.
While provably fair technology seems excellent for players, it's not perfected yet.
Are there any drawbacks to BTC provably fair games?
There are still some potential disadvantages people might face with provably fair, as follows:
- Websites that advertise themselves as provably fair online casinos may rig their games. However, the technology ensures users can easily verify the results of each session. The players just have to check that the files they get before and after the game have the same hash, which is possible with free online converters.
- Provably fair platforms allow gambling with cryptocurrency, which is undoubtedly a volatile financial asset (that can fluctuate in value by more than 10% a day). Thankfully, reliable casinos have instantaneous fund transfers. So, gamblers who aren’t into HODLing can trade their Bitcoin, Ethereum, and other cryptos into widely accepted fiat currency.
- The technology is still relatively new and has a long road to becoming an industry standard. Because of that, it’s hard to find provably fair games with eye-catching designs.
- Betting with crypto seems complicated to the uninitiated. That’s why people should look for a convenient platform with built-in exchange services to easily trade regular currency for crypto and vice versa.
Although these issues are all easily solvable, it’s still essential to know about them.
Try a transparent Bitcoin casino that uses provably fair technology
Provably fair gambling gives players something most casinos try to avoid — a fair chance of winning. They also use blockchain and smart contracts to eliminate payment delays and make gambling anonymous. And why should anyone settle for anything less?
Sportbet.one is a decentralized platform with an extensive library of provably fair games. Anyone who likes the idea of anonymity, low fees, and fair odds can sign up to start betting in minutes.