How Bitcoin Will Revolutionise Gambling [Infographic]

admin Bitcoin, Bitcoin Casino Reviews, Bitcoin Casinos, Infographics, MOBILE CASINO, Provably Fair 0 Comments

Bitcoin is going to change the world of online gambling, and it’s already on its way. The forecasts claim Bitcoin will change online gambling forever! If you want the inside track on just how the world’s most popular virtual currency is going to affect the way you bet, then this infographic – created by our friends at BitcoinSportsBooks and NeoMam Studios – will give you the lowdown. “It’s time for gamblers to cash in their chips and start mining their Bitcoins because cryptocurrency is about to make conventional money a spent force in gambling,” says the blog post at BitcoinSportsBooks. The infographic (click to enlarge) focuses on the main advantages of Bitcoin (low transaction costs, transparency, Instant Payouts ) for gambling from the perspective of online casinos, affiliates, and gamers. Check it below to learn more and tell us your thoughts in the comments below.

Provably Fair: A Fair Game?

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“Provably fair” is a term you’ll see at most bitcoin/crypto casinos. A game can be called provably fair, if the results of it are generated by both a client (clientseed) and a server part (serverseed), allowing you to verify the outcome, checking the house results. At least, that is the theory. But there are ways a casino can manipulate your bets depending on the implementation. There are many variations of provably fair solutions. In this article we will have a look at the past and current implementations, on and off blockchain seed generation, and some of the pitfalls of “provably fair” implementations. When is provably fair compromised? When the client knows the serverseed and vice-versa (knowing the result before the bet) When the client does not know the hashed serverseed before betting (because of the editing of the serverseed during the bet) Abuse of the serverseed variables, for example: betId (frontrunning certain bets of larger volume over lesser bets) Sneaky editing of the clientseed for favourable outcomes (1,l,I and 0,O substitution in combination with an ambiguous font) ‘random’ disconnection bugs (the server can decide not to reply to the results, but silently returns the funds used for that bet. So …