Post
Topic
Board Gambling discussion
Re: Many cryptocurrencies — how important is that for you in casinos?
by
webtricks
on 27/04/2020, 15:34:21 UTC
Hi guys!

Still playing with bitcoins? Or have you switched to TRON or Ripple?
Anyway, every crypto has its own benefits but how important is it for you to have a variety of different cryptos to play in casinos?


On-site gaming currency should be independent of deposit/withdrawal currency. For example, casino should maintain the balance of players in chips. The value of chips shall be pegged to one of the cryptocurrency (let say 1 BTC = 100M chips) and floating rate of such cryptocurrency shall be used to maintain the exchange rate for other currencies.

This mechanism have many benefits:

  • Many players have reported problem in using bitcoin due to its high price. They are confused in using decimal values and sometimes bet 10 times more than the expected. Even using mBTC or uBTC don't help because they don't understand the conversation rate (Mathematics you know!
  • Using different cryptocurrencies offer ease to players but at the same time segregates the game matches in multiplayer gaming. Using common gaming currency solves this problem.
  • It eases the accounting of casino as owner can easily maintain the accounts and statements when all profit/loss are measured in common denomination i.e. chips.