Post
Topic
Board Gambling
Re: 🐺WOLF.BET - Advanced Dice Game 🎲 Sportsbook 🏟️ Slots 🎰
by
shield132
on 26/10/2021, 22:44:46 UTC
I'm not surprised that some casinos doesn't want to have an inside exchanger. It's risky and takes efforts.

Will make a very simple, even childish example, why I wouldn't implement an exchanger if I would be a casino owner  Grin

Two players came. Player A made a deposit of 0.01 btc, player B made a deposit of 0.01 btc, and both decided to exchange it to xrp for playing. At that time price I (casino) credited to their balances, let's say, 500 xrp each.

Player A had a nice run, made his balance to 3000 xrp and now wants to withdraw it. Where the heck I should get these from, if there weren't any xrp deposited? How much of each coin should I hold "just in case"?
While player B didn't win or lose much, and now wants to exchange his same 500 xrp back to btc and withdraw it. Problem is - prices changed, and now it's worth not 0.01 btc, but 0.012 btc. So I didn't earn from him any, but still need to pay extra from my own pocket?

Ofc sometimes it works in otherwise direction, but still - risk is too big.
Logically, casinos shouldn't come with their own exchanges. In fact, casinos have a lot of partners and service providers when it comes to different games. For example, casinos have an agreement with live casino suppliers like Evolution for Live Blackjack, Roulette, Baccarat and other live games. They have an agreement with betting providers who will make odds for their sportsbook. They have an agreement with slots service providers to implement slot games on their website. Do you see? Not all the things come out directly from casino. In fact, it's a big house of different kinds of agreements. That's why they don't run their own exchanges, it's just impossible to keep the reserves always filled in different altcoins if you aren't already an exchange (and it can be financially very unprofitable). They just partner with exchanges and that's all, they get all in one - smooth service and good rates from exchanges.