Blockchain's Potential to Redesign the Online Gambling Sector
Robert Dowling, Chief Commercial Officer for Ganapati Malta examines the effect of blockchain on the online gambling industry, the potentials, and how you can (strategically) embrace it.
Bookmaker accepts most crypto-currencies
Dowling notes that sportsbooks have had to become decentralised, a result of dealing with government agencies in order to run from most jurisdictions, the online casinos have not.
“Without the connection of online casinos to any sort of (perceived) “trusted” institution, like the government, players feel much less safe and their data, more exposed,” he writes in his piece at Gambling Insider.
Blockchain, Dowling claims, solves this problem for the online casinos.
"Transparency for brands within the iGaming industry is, single handedly, the biggest benefit awarded by blockchain technology; given encryption and security (via smart contracts) are put in place, the ability for an iGaming brand to connect directly to the player, in an open environment, establishes immediate trust (and isn’t this the biggest challenge we face within the industry?). From a complete technological perspective, this trust can also be maintained across various systems, furthering the already obvious benefits. If we want to look at this one factor in a completely straight and simple way, we could say that the improved trust factor initiated by blockchain technology solves the (ultimately) biggest challenge: growth. Improved process creates more games, a more seamless, trusted experience, and thus, more players. A scary (and large) move to make, but in the end, you’re just keeping it simple. "
- Gilbert Horowitz, Gambling911.com
