Earlier today I was in discussion with a friend about the rise of online casinos and online gambling market. According to Coherent Market Insights the online gambling and betting market is expected to surpass $123.4b by 2026. It's pretty crazy how people have been lining up to try their hand at online gambling in recent times.
According to a report published by ‘Sports betting Dime’ in January 2019, sports betting is expected to grow majorly in Asia Pacific region. Macau and Hong Kong are two of the most prominent sports betting and revenue generating countries in the world. High economic growth of the region will provide disposable income for leisure activities, thereby boosting the online gambling and betting market growth.
Improved security for online transaction will increase digital transactions, worldwide. It will also motivate companies to offer better, faster and cost-effective ways to transfer money. Many banks across the globe did not allow users to use their account or card for gambling.
For offering best service to gamblers, many payment methods such as NETeller, PayPal casino, visa casino, zimpler, and skrill casino are used at casinos or used for online betting. Neteller is one of the most popular payment method, which is used at online casinos. This payment transfer method is fast, safe, and it can be used anywhere.
There are no dearth of online gaming platform itself but many online forums are have seen reports of users complaining of issues while using these platforms.
Some of the issues that i've heard about is mostly around payment issues where users report the online casino account not being credited or withdrawals not being processed properly, consistent and efficiency of platform's customer support, legal issues due to geographical limitations, integrity of the results of the casino games-hard to believe the authenticity of the result sometimes as well as fraud in some cases.
However, I've not faced these as I haven't tried this beyond a couple of small games where one doesn't need to put their money.
I'm just curious if you are aware of any blockchain enabled gambling platforms that are doing well or online gambling platforms utilising blockchain tech and cryptocurrencies with a sizeable audience.
If not which regular online gambling platforms do you use for any sports betting or gambling needs? What are the major issues you are faced? Which online gambling or betting platform or online casino would you recommend to a friend? Lemme know in the comments below.
The global online gambling and betting market is projected to witness a CAGR of 11.4% during the forecast period (2018 – 2026), owing to increasing adoption of internet devices, globally
According to Coherent Market Insights’ analysis, the online gambling and betting market is expected to show a growth rate of 14% during the forecast period in Asia Pacific region. The growth drivers include huge population, relaxation of laws, increasing participation of wagers, and availability of a huge number of gambling and betting websites with attractive offers.
Many countries or regions are legalizing online gambling and betting, owing to increase in tax revenue, employment generation, and encourages tourists to visit country. Sikkim became the first Indian state to legalize internet gambling.
The Sikkim Regulation of Gambling Act was established in 2005 to authorize the government to allow individual gambling houses. There are three games in Sikkim Gambling Law: Sports Betting, Casino, and Lottery.
Major players operating in the global online gambling and betting market include 888 Holdings, GVC Holdings, Kindred Group, Paddy Power, Betfair, William Hill, Bet365, Stars Group, Draft Kings, Betsson, and BetAmerica
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Ive invested in some for dividends and such. Dont really enjoy gambling as the house always wins. What I would like to see more of is fantasy gambling using crypto like no limit coin.
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I am expecting to a shift through the blockchain based, decentralized gambling platforms like Faireum or Tokenroll in the near future. Online gambling has too many problems and the solutions are provided from blockchain.
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Ive invested in some for dividends and such. Dont really enjoy gambling as the house always wins. What I would like to see more of is fantasy gambling using crypto like no limit coin.
Tournament style gambline via holdem would be interesting as well.
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I have played online casino and betting via a frnd in UK ☺️
The real fun of gambling is at the Casino, colorful and lively all night ☺️☺️
I also play options in trading, a bigger gambling of 10x profit/loss
Of all have lost in options in Trading 😁😁
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Yea there are lots if scammers in that industry. Thats why blockchain gambling has become so popular, your winnings are paid right away and the sites are provably fair.
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How do we know that the site are provably fair ?
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With cryptographic proofs. Check out magic dice, they do it on steem ans have described well how it works.
So u get paid right away, they cant cheat. Why would u ever use a real casino any more???
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Agree in the case of blockchain backed betting apps. I was wondering how does this work in the case of traditional apps. ie, I have never used them but always wondered whether the results are rigged or not.
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Lost many satoshis in 999dice
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I play poker online on America’s cardroom. I’ve been enjoying it a lot as well. Thank goodness I can withdraw in crypto, otherwise getting my money back would take a while. Take care!👋😁
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Never yet
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Most of them are selfish, I don’t play because they’re what they are; game of luck!
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Interesting informational article 👍👏
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It’s not actually gambling but I like to put my money in Dream11. It’s a fantasy team game and needs a lot of brain to put into to create a good team. You should check it out if you like seeing sports.
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Great article!
For the problems memtioned in the artilce, blockchain can offer decentralized way to slove them.
I'm Joey from a blockchain project : SEER
SEER is a public blockchain focusing on prediction markets and sport events crowdfunding. BiBi, the mobile wallet of SEER, is the sample Dapp to demonstrate how prediction Dapps work on SEER. SEER welcomes teams or influential individuals to initiate their own token on SEER blockchain. For good partners, there will be blockchain technical team to develop the Dapp for them, as well as listing their token on SEER's in-built decentralized exchange for free.
Official Website: https://www.seer.best
Official Web Wallet: https://wallet.seer.best
Official Mobile Wallet: https://download.seer.best
Official Telegram Group: https://t.me/Seer_English_Group
We are now looking for Dapp partners, if you are interested in the cooperation, please contact me on Telegram. My Telegram username is @joeyatseer
Best Regards,
Joey
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Online gambling on a blockchain is definetely more secure than with out. Playing something like Dice is fine online or poker against real people. However I don't like Blackjack online and prefer that than a casino. The best thing about online casinos are you can sometimes earn dividend stakes. The worst thing is it makes gambling an even more antisocial activity.
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