The connectivity of internet had paved the way for the online entertainment of legal betting via online casinos. Although the concept became extremely popular, some unethical player corrupted the whole industry inducing greed, lust, and corruption there. Late payment, no payment, unscrupulous handling etc. became the recurring problem of online betting industry and playing with casinos. Besides scam, delay in payment, the problem in withdrawal, manual error in making payments etc. made the whole online casino gaming a non-transparent industry, the smart casino is the new-age concept of playing the fair betting game with authenticity, secrecy, and complete reliability.
Smart contract casinos are monitored by blockchain technology: a smart contract is scripted as a unique code. It executes robotically when some pre-fixed conditions are met. When a casino runs on smart contract agreement it keeps no space for human error or delayed payment, etc. because that specific code is unchallengeable in the blockchain.
Smart contracts, at their existing condition, are inadequate to determine concerned outcomes which hardly require any manual intervention i.e. a smart contract cannot read an individual’s judgment. However it’s not a big fix for the casino business, as winning and losing a betting game can easily be computed; if a roulette ball stands on red, any player put his bet on that red, it will be mechanically paid. There is a wide range of advantages to processing bets through a smart contract:
Advantages of casinos on a smart contract
There are different advantages of playing bet via smart contract. These are:
- No formality of deposit/withdrawals: bets are reimbursed directly to contracts and winning bets are paid without delay to the player’s wallet address without any involvement of middlemen
- It is Auditable: contract code is openly auditable upon the blockchain
- It is Low cost: the price of running a smart contract casino is comparatively low, and these savings are shared with the online players via a low house-edge
Presently, smart contracts are typically connected to the Ethereum blockchain – especially with the Ethereum Virtual Machine (EVM), which stands for its reliability.
Before you find out a casino that runs on smart contract, you need to verify its reliability and performance. It is always wise to join a smart casino that users and authentic reviewers are rating high. Without checking the service rating and rating for reliability, it can be frustrating to join an online smart casino.