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Has Blockchain Succeeded in Reshaping Online Poker?

Posted on April 4, 2024 by Kelley N.

Online poker tournaments will seemingly be the next big thing in the gambling industry to be transformed by blockchain technology. In fact, in some ways, this is already happening.

It is easy to see how we got here. First, the widespread use of collusion and cheating has been an issue in online poker events for quite some time. Blockchain technology’s immutability and transparency make it ideal for addressing these concerns directly. It is possible to record every transaction and move made during games, which guarantees a fair playing field that is free from manipulation. Furthermore, due to its decentralized nature, blockchain greatly reduces the likelihood of theft or mismanagement, increasing the security of player funds.

Today, a major shift has occurred with the implementation of smart contracts into poker tournaments. The rules and compensation are automatically determined and enforced by these self-executing contracts, which have conditions encoded straight into code.

But it is not just the tournaments and money that blockchain technology is protecting. Privacy concerns have long plagued online poker players, who are sometimes compelled to provide personal details on more conventional sites. Blockchain technology presents an elegant solution to this problem. By limiting player identification to their wallet addresses alone, poker operators can prevent fraud and identity theft while also protecting players’ privacy.

Expanded Horizons

The use of blockchain in poker is not all about fixing issues though. This is especially true in 2024 when more people than ever are aware of it in one way or the other. Blockchain technology opens the door to a world without borders, where anyone may participate regardless of their location, banking status, or currency limits, in contrast to more traditional platforms.

Furthermore, it may serve as a platform for international events, uniting players from many cultural backgrounds and promoting poker potentially as a game of skill. Not only does this improve the game as a whole, but it also opens up great possibilities for gamers all over the globe to band together and compete.

Looking Ahead

Crypto and blockchain technology seem to have limitless future applications in the poker industry. An increasing number of online poker sites are accepting digital currencies as a key payment option, giving players more freedom and safety in their financial dealings, thanks to the widespread acceptance of cryptocurrencies. Even more so, as blockchain technology evolves, new and fascinating gaming platforms and features will emerge, giving online poker players even more to look forward to.

PokerFi.Finance to Unite Crypto and Poker Users

Posted on October 4, 2021October 3, 2021 by Kelley N.

The utilization of crypto and related technologies in the world of gambling is not an entirely new thing. Still, there is so much to be discovered in the sector. New entrants debut innovative technologies and products regularly and this is what keeps it going. For poker players, it is now more apparent than ever that crypto is a huge part of the industry.

As part of an ambitious plan to further unite poker players and crypto enthusiasts, PokerFi.Finance has come up with an innovative approach for financial transactions in live and online poker. The main goal of this is to bring more awareness about crypto to poker players. It further provides this group of people with an incredible system through which they can earn some passive income. This should further give more people more reason to be a part of it.

How It Works

PokerFi.Finance which is also referred to as Poker Finance token is essentially a digital currency. It is linked to BEP-20 on the Binance Smart Chain and is built on a foundation of three ideas. That is to improve Decentralized Finance (DeFi), offer great poker games and deliver a deflationary system.

The deflationary nature of the system will likely be the most eye-catching thing for many people. That is because it means that the token holders will be able to earn in dollars with dividends and they will not have to sell their coins to make that possible. As for the actual figures, PokerFi.Finance token holders will have the chance to earn a 6 percent fee for every transaction. A 3 percent share is automatically distributed every 12 hours to everyone with over 35,000 coins in their token wallets.

More Perks

When it comes to actual poker gaming, the users of the PokerFi.Finance platform also have a lot to look forward to. The players will get the chance to rake back up to 70 percent of their spend on the site. This is paid out weekly in $BUSD. In addition to that, the side features an amazing loyalty program. Referred to as the PointFi rewards program, it is made to cater to all users with accounts on the site. Once registered, the players get 1FP for every $1 wagered.

The total rake of the site will contribute to growing the value of the PokerFi.Finance token. 2 percent of the total rake is dedicated to that goal. Players still can get to reap the benefits of this too. Qualifying players will receive a 5 percent share of the total rake.

Online Gambling Rise Continues Amid Surge in Crypto Activity

Posted on March 4, 2021March 3, 2021 by Kelley N.

The past couple of years or so have been monumental to the growth of arguably two of the most important sectors in the world right now. Crypto and gambling have both proven that they are here to stay time and again but we would understand if you are still skeptical. Speculations and predictions seem to be all the buzz but one undeniable thing is the significant effect the two sectors are having on each other and the rest of the world.

Several digital currencies have over the past couple of months been enjoying new streaks of popularity. Bitcoin, for instance, has recently reached record highs of over $50,000, something that nearly no one saw coming. Its price is however not the only thing that we are interested in – these price surges have been one of the main drivers of the growth in popularity that bitcoin and other cryptocurrencies have been enjoying lately.

As it turns out, it is not just individuals that are jumping on the bandwagon. Several institutional investors have begun to take the sector very seriously which goes to show just how big of a ripple effect the price surges have had on the global economy.

Still, very few industries have benefited from the crypto boom as much as gaming and entertainment companies. Gambling has long been one of the most popular sectors and with its stakeholders showing a lot of enthusiasm when it comes to adopting new technologies, its utilization of crypto and blockchain technologies was always bound to happen.

Big Promises

When cryptocurrencies first became a thing, no one would have imagined that these tokens along with the related technologies would have such wide-ranging use-cases. Gambling companies, however, seized the opportunity as many of the things that the crypto was promising would be immensely beneficial to their businesses.

Perhaps the most notable aspects of crypto that have been pushing its adoption in gambling are decentralization, transparency, and safety. In essence, they have created what can only be described as an online gamblers’ heaven where the games are provably fair, the transactions are cheap and fast, and the user data is completed protected.

Now, not all gaming companies have been quick to make some of these changes especially considering how volatile the crypto market often gets. Still, it is very important to acknowledge just how far we have come and how close we are to finally achieving the dream of a whole new financial system. One that is not only safe but also fair and reliable.

The World of Crypto and Poker in 2020 And Beyond

Posted on January 4, 2020January 3, 2020 by Kelley N.

Poker remains to be one of the most popular games on the planet and this is set to be the case for a very long time. No other games come even close to offering the thrill and excitement that poker offers its customers. Now, things are about to get even better thanks to the entry and subsequent integration of crypto technology.

While digital currencies and the associated technologies are still seen as novelties by many people, they have evolved tremendously over the years to become among the most popular topics on the planet. A revolution in the way that we perform transactions is imminent and one of the industries that will benefit will be the gambling industry. This is because the sector was among the very first ones to adopt crypto technologies in a bid to improve service delivery. The gaming industry has capitalized on the benefits that can be derived from the use of bitcoin and other cryptocurrencies as well as supporting technologies such as the blockchain and smart contracts.

How Will It Impact Online Poker?

Already, there are a decent number of online poker operators that are utilizing digital currencies. These companies are now essentially proof of concept for the benefits of using crypto for banking. Some of the most marketed benefits include security, safety, speed, flexibility, and even anonymity. Decentralization plays a huge part in this and it ties in very well with the accessibility that online poker operators are working hard to keep offering.

The shift towards online poker operations that support crypto payments has already begun albeit on a rather small scale – it is picking up the pace though. Digital currencies may have grown tremendously popular but there has been a bit of a slowdown in terms of mainstream rollout. The gaming industry does not seem to be suffering from the same problem since it is known for being very experimental as an early adopter of technologies.

Giving Users Full Control

At the end of the day, this seems to be the most important factor for many online poker players. By eliminating the middleman, online poker operators will allow the users to have more control over how they spend their money. Speed, safety and security are the core consideration in this case. A number of projects were already in the pipeline by the time 2019 was coming to an end with more set to come into play this year. There are lots of crypto-powered online poker sites available right now. You might want to get acquainted with them as soon as possible. Why? They are the future.

Pbet to Redefine Gambling with Its Blockchain Solution

Posted on August 4, 2019August 2, 2019 by Kelley N.

Its been over a decade since the blockchain, as we know it, came to be. In that period, technology has proven that it is a useful tool for a vast range of applications beyond digital currencies and one of the sectors that have embraced it is the gambling industry. It has been said on more than one instance that the very dynamic blockchain technology is set to completely redefine the gaming industry – this is already happening.

Pbet, a rising crypto-powered gambling platform is one of the companies that is championing the quest to “blockchainize” the gambling industry. That said, it is easy to see that the casino is much more than a mere cryptocurrency casino. The gaming company has come up with a complete blockchain-based crypto-based gaming platform that is set to spark up a revolution of sorts in the gambling industry. In essence, with the new platform, Pbet is addressing some of the most user-oriented concerns when it comes to online gambling – these are fairness, transparency, safety, and security as well as affordability.

Pbet’s innovative and revolutionary idea is a blockchain crypto-based Unified Gaming Platform and its intended to create a convergence between land-based casinos and online gambling sites. All this will be added while combining both the players, the casinos and the Pbet platform itself with each set to benefit from added value.

“We are driven by the mission to combine all 3 pillars- physical casinos, players and Pbet- through our disruptive blockchain crypto-based Omnichannel Gaming platform business model. Our state-of-the-art platform is strategically designed to benefit both the players and casinos through blockchain technology”, stated a Pbet spokesperson.

The Perks

To begin with, Pbet’s new blockchain solution is set to give the players even more reason to trust the gaming platform and this will be achieved through the transparency of information. This will help to address trust issues which have always been a major concern for players across all major online gaming platform despite the operator’s efforts to address the issues.

Fairness aside, players have also complained about the slow nature of the payments at the casinos as well as the high transaction fees that they are charged. Pbet’s gaming platform will be addressing this issue by introducing a payment solution that will fix both of these problems – it will be fast, reliable and very affordable. Considering the tremendous improvements that have been made to blockchain technology, the users can expect near-instant transactions speeds.

Moreover, Pbet has also recently announced its Omni-Channel Pbet Reward Club. This will assist its partner casino to benefit from hospitality sectors in order to provide freebies which are meant to assist with player acquisition and retention.

A Review of Blockchain Poker: Is This It?

Posted on June 4, 2019June 1, 2019 by Kelley N.

Online gambling has been around for a very long time now but the level of innovation in the sector puts many other industries to shame. This is mostly because the gambling industry has shown time and time again that it is more than willing to try out new and risky ideas in a bid to appeal to the newer generation of players while at the same time cashing in on new gaming verticals.

Some of the areas where online poker and online casinos have been focusing on in the past couple of years include digital currencies and blockchain technology. At this point in time, it would be an understatement to say that the blockchain has had its fair share of success with online gambling. In fact, the technology has solved so many issues that previously plagued online gambling activities – these include such aspects as biased gameplay, unfairness by some operators, lag timings and even slow transactions, all of which have now been improved significantly.

That said, more and more blockchain-powered gaming applications are beginning to rise and Blockchain Poker is one of the more interesting ones that players will come across on the internet. Not only is this online platform a great place to try out your luck at gambling but it is also a near-perfect version of the older generation of online casinos. In other words, it delivers on some very vital promises. For instance, all the transactions are secured, not biased in any way and are very secure.

What It Offers

Transaction speeds aside, Blockchain Poker gives poker players the opportunity to play using bitcoin (BTC), Bitcoin SV (BSV) and Bitcoin Cash (BCH). In essences, the blockchain-powered online gambling platform was “built to be a fun, easy way to help get more people using Bitcoin (BTC), Bitcoin Cash (BCH), and Bitcoin SV (BSV)!”

Unsurprisingly, while this platform is geared towards giving poker players the convenience of playing on an improved version of an online gambling site, the aim of the project is to facilitate further growth of the crypto community and ecosystem. What better way to do this than by showing people just how useful blockchain applications can be?

More Features

One of the most notable features that Blockchain Poker offers is the ability to instantly enter into No-Limit Texas Hold’em cash games or tournament using bitcoin. For these games, anonymity is guaranteed since the players are not required to sign up. The platform further award free satoshis to new players.

Moreover, Blockchain Poker also offers some very lucrative rake caps and rake backs thus giving the players a better chance to build their bankroll.

DAO.Casino to Build Gambling 3.0 Blockchain with MixBytes

Posted on May 4, 2019May 2, 2019 by Kelley N.

DAO.Casino, a renowned blockchain-based gambling protocol has recently announced its plans to develop their own blockchain which will become the heart of the DAO.Casino ecosystem. The protocol is will be partnering with MixBytes in order to develop a unified solution for building the so-called gambling 3.0 blockchain network.

Why Now?

The adoption of blockchain and digital currencies has been in the rise over the past few months, a situation that, in a way, proves that the crypto market is moving past the bearish trends of 2018 that almost completely ruined the crypto markets. To that effect, there have been a plethora of investments into the decentralized ledger technology (DLT) space with the number of start-up growing almost exponentially – this was mostly thanks to the enthusiasm of venture capitalists who have invested no less than $5 million.

Now, there are a number of different industries that have come under the wings of the innovative DLTs and this has created even more optimism in as far as the future of DLTs is concerned. As expected, online gambling is one of the industries that have welcomed the new technology with a number of crypto- and blockchain-based virtual gambling platforms mushrooming on a regular basis. This is not surprising especially because of how open and welcoming the online gaming industry is to new and innovative technologies.

It, therefore, goes without saying that there has never been a better time for various industries to capitalize on and expand various blockchain applications.

DAO.Casino’s and Mixbytes’ Plans

The partnership between the two companies is now primarily meant to address some of the biggest challenges that currently face the online gaming industry – these issues include the lack of trust and doubts regarding the security of funds and the DLT applications offer solutions by bringing transparency which, in turn, eliminates the possibility of any form of manipulation.

By partnering with MixBytes, DAO.Casino will now have access to resources such as more high-level experts taking part in the “creation of a brighter future for the gambling industry”. As per the terms of the partnership agreement, MixBytes will be providing DAO.Casino with thorough “consulting and collaborate to create the DAO.Casino Blockchain, featuring all the necessary technologies to ensure the future prosperity of decentralized gambling, as finality, random number generator, high throughput, low latency and more.”

Blockchain technology continues to take center-stage in a number of global business and these kinds of developments do not show any signs of slowing down anytime so. For companies like MixBytes and DAO.Casino that have already realized the potential of such applications, it might be much easier to get to the mainstream market when the time is right and these applications finally blow up in the mainstream market.

SwC Poker: The World’s First True Bitcoin-Only Poker Game

Posted on March 4, 2019March 3, 2019 by Kelley N.

As much as the crypto buzz may have dwindled a little over the last few months, there are still tons of innovative ideas being floated around and implemented in a bid to get both blockchain and digital currencies to be massively adopted. The use-cases have grown immensely but there is still a lot to be done in order to propel further growth which means that the industry needs all the help it can get. Fortunately, one of the industries that have been taking the concept of bitcoin and blockchain very seriously has been the gambling industry.

However, despite all the innovations in the crypto-gambling scene, most operators have been forced to keep one foot out of the fold – even though several online gambling websites have integrated crypto onto their platforms, very few of them have completely tokenized their services. Now, SwC Poker is changing the narrative by becoming the very first gambling service provider to go all in on bitcoin gambling with the tag line “No Banking, Only Bitcoin”.

Bitcoin 3.0

Launched in March 2015 following the shutdown of SealsWithClubs over some ethical issues, SwC Poker builds upon its predecessor’s ethos as well as data which included usernames and krill amounts. This basically means that some of the things that the site focuses on are anonymity, fast cashouts, and, of course, significantly low rakes. The concept of decentralization is also very important to the internet-based organization which has its server geographically distributed across the US hence its popularity among crypto enthusiasts and online poker players.

Moreover, in November last year, the company relaunched the amazing “Bitcoin Poker 3.0” and since then its customers have been treated to one of the most stable online poker experiences. Regardless of whichever device or operating system you may be using, the poker experience will be nothing short of exceptional.

Not only is the site now accessible from virtually anywhere in the world, but is also much easier to register on it and begin playing. As expected, in addition to a robust web-based client, the online poker platform also offers the users the luxury of downloading platform-specific software and apps – the experience is, fortunately, streamlined across all of the devices.

To register, all that is required is an email address but even though the site puts a lot of emphasis on anonymity, it also offers two-factor authentication for some important actions like making withdrawal or logging in.

Some of the other features that players should look forward to including 24/7 freerolls, a number of lucrative tournaments as well as the recently introduced Bad Beat Jackpot – the latter is a no-limit hold’em cash game that builds a jackpot fund using the normal rake amounts.

Is BTC Gambling Still a Lucrative Investment Opportunity?

Posted on February 4, 2019February 2, 2019 by Kelley N.

Bitcoin and digital currencies, in general, have become quite appealing as business prospects which was not the case just a couple of months back. Despite recent declines in the overall value of most digital currencies, the crypto industry is on a rather consistent upward trend. In many ways, the industry has seemingly gotten to the point where it can be said to be ripe for investment and exploration – a number of these are already underway. This is especially true for the gambling industry which is among the very first industries to adopt various crypto-related innovations. If history is anything is to go by, then this is a sign that crypto will be vital in the quest to boost returns for the gaming industry.

What 2019 Has in Store

Well, according to a number of experts, 2019 is going to be the year of next level application of bitcoin, and other digital currencies, in the gambling market. These projections mainly rely on the trends and forecasts for both markets that indicate several extensive changes that will come into effect by the second quarter of the year. This steady growth trend is expected to go on for the next two years with the areas expected to see the most changes being mobile gaming, sports betting and live online gaming.

Online casinos and online poker operators stand to reap the most from the integration of crypto technology and mainstream consumer technology. The trends indicated by these projections and forecasts are going to peak in 2019 which means that we might actually get to see fully-fledged applications taking advantage of the untapped potential of the crypto market. That said, it is safe to conclude that despite the ups and downs of the cryptocurrency space, it was always bound to rise above all that.

Blockchain Poker Tournaments

Last year we got to see the very first blockchain poker tournament that highlighted the three-day World Crypto Conference and was hosted by Las Vegas-based Aria casino. The tournament brought together live poker action that was powered by blockchain technology, making it the first to show off the full potential of blockchain and crypto technology in the gambling space. Poker players should expect more of these in 2019.

Prior to the inaugural blockchain poker tournament, there were already a number of established online poker brands including Virtue Poker that were already using decentralized smart contracts to manage their data. Even though the technology is still far from being perfected, players have grown to love the idea of their data and gaming application being managed by decentralized platforms primarily because the technology helps in reducing the possibility of site fixing and the use of poker bots.

Crypto Mining Businesses in Japan and China Close Up Shop

Posted on January 4, 2019January 3, 2019 by Kelley N.

The world of crypto had its fair share of lows in 2018 and, even though it did not seem like it at the time, the effects of the year-long bear market of the last year affected much more than the prices of the digital currencies. Some of the worst-hit sectors were those that had a direct link to crypto, that is, related businesses such as large-scale mining businesses suffered greatly. This was primarily because the crypto market was beginning to become less appealing to some of the largest firms in the world and they began to slowly pull the plug on what were once some of the most lucrative operations in the industry.

China’s Bitmain to Pull the Plug

Crypto mining giant, Bitmain was once considered a titan in the digital currency mining business, not just in China but in the whole world as well. In fact, the company controlled close to 80 percent of all the hardware that was used in the generation of new digital currencies. Well, not anymore. The company is no longer as highly regarded as it was a short while back and there are even reports that it is planning to lay off between 50 and 80 percent of its staff. This is despite the fact Bitmain controls some of the largest mining pools on the planet and is the leading supplier of the mining equipment, both of which gave it significant control over the bitcoin and Bitcoin Cash networks.

Unfortunately, as the prices of the digital currencies continued to dwindle in 2018 and the level of difficulty in minting new digital coins remained high, there was a significant drop in profitability. As a result, a number of companies including Bitmain have chosen to exit the large-scale cryptocurrency mining business which is no longer viable since the cost of hardware and power is much higher than the value of the digital currencies that are mined.

The Situation in Japan

According to Japanese media, GMO, one of the country’s retail giants, is pulling out of the bitcoin mining hardware industry in Japan citing increased pressure on the profitability of the business due to increased hash rates and mining competition. The move, as it turns out, reportedly cost GMO a whopping 25 billion Yen. Despite exiting the crypto mining hardware business, GMO will still continue to mine and also plans to launch a cryptocurrency exchange in the near future.

Japanese e-commerce company DMM is also reportedly leaving the business through the closure of its crypto mining firm in Kanazawa. As expected, the company also cited declining profits as the main reason for the move. The company now intends to focus on its crypto exchange platform that has already achieved full regulatory and license status in Japan.

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Tag: blockchain