When playing casino games online, knowing the games are fair is extremely important. Casino games are not designed to make everyone a winner, and the odds are never in favor of the player, but the games must always play fairly. Online casinos must obtain a license from a regulator to operate in many countries, and the regulating body will often check to ensure the games are fair, but thanks to the introduction of cryptocurrency, we have a new way to prove gaming in casinos is fair.
Provably Fair Gaming
For many online gamers, the brand Provably Fair Gaming is likely to be new, but they are making waves in the online casino world. When playing casino games, the outcome should always be random, such as a spin of the reels when playing a slot game. Provably Fair Gaming has developed an algorithm that uses the blockchain to ensure every action when playing an online casino game is as random as possible. It is possible for all players to check the fairness of their gaming using the blockchain, which stores every transaction and cannot be altered in any way. There are several casinos using the algorithm, including Stake and Luckydays.
Pros of Provably Fair Gaming
The main advantage of Provably Fair Gaming is you can check the results of all your wagers, and the outcome cannot be changed. This means there can be no backtracking from the casino if you land a big win because the results will be available to view. There is no need for a provably fair casino to undergo the auditing that is required for a regular online casino. As highlighted above, regular online casinos must be licensed and regulated, and that means the regulator must always keep a check on the casino to ensure the games are fair. Provably Fair Gaming is great for those who do not want to sign-up and provide personal and financial information when playing online casino games. A provably fair casino does not require this information, and you can play anonymously. There are often lower fees at crypto-based online casinos because transactions do not cost as much.
Cons of Provably Fair Gaming
For many people, buying cryptocurrency is something new, and it is not easy to get started. To play at a provably fair casino, you must use cryptocurrency, and there are several steps to take before you can start playing. You must purchase crypto, set up a crypto wallet, and be prepared to trade crypto. When owning and using cryptocurrency, the value of the currency can change at any time. You must only look at 2022 to see what can happen to cryptocurrency if the market starts to fall. There are many cryptocurrencies available to buy, and knowing which one to obtain takes time. They each come with their own pros and cons, and it can be a steep learning curve.
So, there are many advantages to playing at casinos with Provably Fair Gaming, but you must have a sound understanding of the crypto market before you can begin.
