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Gambling 10 Sep 2018

How Blockchain Will Disrupt Gambling

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Home Gambling How Blockchain Will Disrupt Gambling

Gambling with Crypto is More Fun


The symbiosis between crypto and gambling can only get stronger--we live now in a world of mass adoption of blockchain. As the likes of J.P Morgan get into the space of zero-fee stock trading apps to compete with the likes of Robinhood, the Microsoft-backed Bakkt project will take digital assets and cryptocurrency holdings to the next level.


In 2018, it’s very clear gaming and gambling have very bright futures indeed. Blockchain technology is gradually creeping into every industry and, in the coming years, its presence will be felt like never before. However many analysts believe it could make its big breakthroughs in particular in the realm of gaming, in-game assets, and gambling. It’s only human nature that we spend time where there is an aspect of entertainment and rewards.


Blockchain is Ideal for Online Casinos


The use case for Blockchain is especially attractive for Casinos. It’s simple. Blockchain can provide customer experiences that are private, cheap, legal and accessible while enabling the likes of Bitcoin and Ethereum to have even more applications.


Blockchain can also provide more trust in Casinos and transparency for customers. A Casino that integrates crypto might is also seen as more progressive and adaptive to new technology, than one that does not. Blockchain can give consumers more insight into how a Casino operates and make it impossible for “the house always wins” to be true by any form of manipulation or setup. So blockchain integration in a Casino removes some of the pain points for consumers to fully enjoy activities at Casinos. Online Casinos that are blockchain based will have an advantage over those that are not.


FortuneJack is Rising to the Occasion


In our endeavor to provide you with educational material here at FortuneJack, we are launching FortuneJack Reads which will be a collection of articles published on our blog concerning recent big topics in the crypto world. Improved trust and reduced fraud means blockchain-based Casinos are more trustworthy.


While Bitcoin was not the first cryptocurrency in history, it was the first one to provide a decentralized structure. At FortuneJack we currently accept 8 kinds of cryptocurrencies:


  • Bitcoin
  • Litecoin
  • Dodgecoin
  • Ethereum
  • ZCash
  • Dash
  • BitcoinCash
  • Monero


Winning Bitcoin might turn out to be even more fulfilling than winning a fiat currency. This is also because the price of cryptocurrencies, after its latest drop in 2018, is likely to go up in the future. Blockchain is making it easier for consumers as they seek new, convenient and fun opportunities to play.


Blockchain is Disrupting How We Play


Blockchain’s infrastructure is itself inherently tamper proof. The distributed ledger makes it an impossible task to manipulate anything in the system. So your winnings and rewards are easily and automatically calculated via smart contracts. FortuneJack will also have a number of cool leaderboards where bonus rewards are given out. With special promotions we’ll incentivize new ways of playing.


Blockchain as a new foundational technology means the Casino industry can be reinvigorated with the crypto movement. As more Millennials and young people embrace crypto, it will just become part of the new norm of how payments and interactions take place online. The gambling industry, like the gaming industry, could be part of the bridge to how a new set of digital assets emerges that makes blockchain become the new normal.


For the gambling enthusiast, the player, the anonymity of the exchange that blockchain affords is unusually appealing. Also the added speed of processing, security of the data and transparency of the system are huge selling points. Blockchain is without a doubt, disrupting gambling. Playing with cryptocurrency is even more enjoyable for many people. Just as ICOs, crypto funds and new altcoins come into being faster and faster; gambling needs to feel more trustworthy again and the mass crypto adoption we are witnessing all over the world, means blockchain is here to stay.


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