Imagine being able to play a casino game and stake your wager at no disadvantage to you. Imagine being able to see your bets where they are stored in the blockchain and being able to track the records.
In this article, we will seek to answer the question of why you should play at a blockchain casino with no house edge. We will also seek to properly explain each term so that it is clear to you.
What is the house edge?
The house edge refers to the mathematical advantage that the casino house has over the gamblers when they place a bet. Simply put, when you place a wager on, say, a roulette, the house has a certain percentage of returns in the long run. This assures them that you will not win. Well, you can win once, but in the long run, the casino house makes a bigger profit.
This house edge is what keeps the casino running. It is what the staff is paid with, it is what helps the owner record profits (big profits).
What is a blockchain casino?
Before we try to explain what blockchain casinos are, allow me to first show you what a blockchain is and what edgeless blockchain casinos do and offer to you.
What is blockchain
Blockchain is a transaction recording system that ensures safety, security, and accuracy to its users. What this means is that when you perform a transaction it is stored as a block in a chain of several other transactions. Each block can be traced directly to its transaction source.
Blockchains are controlled by nobody. This makes it totally safe and free from hackers. You don’t get to worry about whether somebody is someday going to move all of your cryptocurrencies to their own account.
What is a blockchain casino with no house edge?
With the previous explanations on what house edge and blockchain are, we can easily understand what a blockchain casino with no house edge is and does. A blockchain casino like Bspin.io typically offers gamblers a safe and very secure way of placing their bets online. Every bet placed is stored as a transaction block between you and the casino in the blockchain.
What the edgeless blockchain casino does is that they give you a 50-50 chance of winning, as opposed to the usual 80-20, or sometimes 90-10 which puts you in a position of constant loss.
You may wonder, “Why do that, is it good for business?” Well, the casino wants you to win, and as a long term advantage, have money stored in cryptocurrencies that appreciate over time. When you eventually win, they would have made some profit (like interest) on the appreciation of the crypto.
Why should you play at a blockchain casino with no house edge?
We are going to look into some of the amazing benefits of playing at a blockchain casino with zero edge.
- You have a 50-50 chance: casinos with a house edge actually run the business by putting themselves at a lower risk of loss and you at a higher risk. With this 50-50 chance, you’re actually just tossing a coin with the house. If it falls on your part, you win and if it falls on theirs, you lose.
- A higher winning chance: since you’re now playing at a percentage higher than just 20 or 10 percent, there is a bigger chance that when you spin the roulette, for example, you will be able to win. This greatly reduces your disadvantage and chances of losing.
- Cash-out all your funds: unlike with traditional casinos where you have to leave a percentage of your funds with the casino, you can actually cash-out fully here. The house doesn’t hold any part of your money, it is completely yours for the taking whenever you decide.
- Value appreciation: do you remember when I mentioned that your currency gets to appreciate when it is stored in cryptocurrencies? Well yes, if you store your funds (for a deposit, or your winnings) in cryptocurrencies, you could get a 10% increase or, also possible, a 10% reduction in just one day. It is a win-win situation because hardly does it ever depreciate.
- You would have your personal cryptocurrency wallet: you may not know the importance of this until in the later future when the traditional currencies of the world begin to constantly depreciate against cryptocurrencies. You would have a solid financial control having your money stored up in a cryptocurrency wallet. In order to be able to bet with the blockchain casino of your choice, you would need a blockchain wallet that helps you stake your bets.
You must always remember that your funds are not only secure with blockchain casinos but they also have the potential of turning into real crypto investments.
Blockchain casinos with no house edge place you at a 50-50 chance unlike the traditional casinos and this offers you a 50% winning chance. You’re sure that with good luck on your side you can bring the money home.
Remember, however, that there may be downsides to this. For example, your cryptocurrencies could depreciate at some points. As mentioned earlier, there is a higher chance that it wouldn’t, it is just better to know that it actually could.
It is also possible that the casino may be ripping you off by dragging you in with the knowledge that there is no house edge. This is why it is strongly advised that you play with a blockchain casino that has been tested and trusted to have a great reputation.