What Does “Provably Fair” Mean For Crypto Casinos?

Home » What Does “Provably Fair” Mean For Crypto Casinos?

If you’re new to crypto casino gambling, you must have come across the term “provably fair.” This is a common technology that’s used when referring to certain games at these online casinos. However, if you’re not familiar with what it means, we have prepared this simple but detailed guide for you.

What Is Provably Fair Gambling?

Provably fair gambling simply means playing at an online casino that has provably fair games. To put it simply, a “provably fair” algorithm is one that can independently verify the fairness of games at a gambling site. Games like Slots, Blackjack, Poker, and lots more are available on most online sites and thanks to this, players don’t have to worry about the online casino taking advantage of them.

How Provably Fair Gambling Works

Now that you know the provably definition, you need to understand how it works. First, note that there are three components to provably fair:

  • The server seed – a value that the site provides
  • Client seed — a value supplied by and modifiable by the user’s web browser.
  • Cryptographic nonce – a number that increases proportionally to a player’s stakes

Before the game round begins, the online casino generates a random “seed” number. In order to protect the privacy of those who bet, the number is hashed and delivered to the bettor in advance of each wager or game. The purpose of the hash function is to convert a long string of data into a shorter one.

Afterward, the bettor’s browser will then produce a seed at random. Once both seeds are in place, they interact to determine the outcome of the wager. There’s also will begin at 0 or 1 depending on the Bitcoin gambling site. It will grow with each wager you make. The seeds and nonce are used by the algorithm to determine the game’s fairness.

After playing at the online casino, the player will receive the client seed in its unencrypted form so they can check the game’s integrity. On-site verification services allow gamblers to double-check the final results before cashing in. To check if the value generated by the game matches the value produced by the unhashed seeds, just input the value generated by the seeds.

Pros of playing at provably fair bitcoin casinos

Bitcoin gambling comes with a few benefits which could include mouth-watering offers and promotions. Some we will explain in the following sections.

Playing casino games at a bitcoin casino

Quicker transactions

One of the perks of gambling at Bitcoin casinos is the speed of transactions. Thanks to the blockchain, crypto payments are processed quickly. As a result, deposits reflect in your gambling account within a few minutes after a successful payment. Likewise, withdrawals from a Bitcoin gambling site take only a few hours to arrive in your crypto wallet.

Safety of funds

All transactions players make with these virtual currencies are recorded on the blockchain, which is a public ledger. This ledger is made up of nodes (users and servers) that ensure your funds are secure. Plus, if you use a secure wallet, no third party can access your assets without your consent.

Privacy and security

When gambling with bitcoin and other virtual currencies, you don’t have to reveal any financial information to the operator. All you need when making transactions is your crypto wallet address. This makes it impossible for even scam operators to use your details to access your cryptocurrencies.

Clarity and transparency

Thanks to this provably fair technology, players can even be more certain of a game’s fairness. Plus, the best crypto casinos have clear privacy that reveals to a player what they do with their information. Bitcoin casinos also have strict rules in place to ensure that their players gamble safely.

Cons of playing at bitcoin casinos

Despite the advantages of playing provably fair casino games, there are also a few downsides you should note. The following are the pros of playing at bitcoin casinos:

Bitcoin Volatility

One of the major disadvantages of using Bitcoin to gamble online is its price fluctuation. Even small changes in the market or external factors can have a big effect on the value of these assets. As a result, you make more profit from your gambling sessions when the prize is stable than when it falls.

A new form of currency

Bitcoin and other virtual currencies are still new and have yet to prove their worth to many individuals. That’s why many businesses are yet to support them as a payment method, and online casinos are no exception. Many gambling sites prefer accepting fiat currencies to crypto as a result of this.

Is bitcoin gambling legal?

The legality of Bitcoin casino and gambling has always been questioned by players who intend to use these assets to play online. Here are the points you should note about these virtual currencies:

Neither legal nor prohibited

In general, Bitcoin gaming is not governed by any legislation. Officially, it is neither permitted nor forbidden. However, more nations are embracing Bitcoin and considering how to regulate cryptocurrencies and blockchain-based services.

Even still, Bitcoin is not considered a legitimate form of money by most governments. If Bitcoin is not a “real” currency, then it is exempt from the rules that apply to traditional (fiat) cash.

No third-party authentication

Bitcoin operates on the blockchain, a decentralized, distributed, and secure transaction ledger database that’s accessible to all nodes in the network. It logs and stores each transaction that takes place within the network. Therefore, it eliminates the need for “trusted” third parties, like when dealing with fiat currencies. This is one of the reasons why transactions at crypto casinos are faster.

Blockchain technology

Transparent sharing of information via Blockchain technology

As already noted, blockchain technology is at the heart of Bitcoin gambling. One of the key elements of the blockchain is the distributed ledger. The ledger is a shared, immutable database that can be accessed by everyone in the network. This records transactions only once, avoiding the redundancy that plagues businesses using fiat currency.

Another element of the blockchain is unchangeable records. Once a transaction has been recorded in the shared ledger, no other participant can alter or delete it. If an error is found in a transaction record, another transaction must be entered to undo it. Then, all parties can see both transactions.

Higher RTP percentage

The return-to-player percentage is an essential part of playing at crypto casinos. This percentage depicts how much a player stands to gain or lose in the long run.

For regular slot games, it is recommended that they have an RTP of at least 96%. However, provably fair games at Bitcoin casinos have an RTP of up to 99%. Thus, players stand to gain more in the long run from playing these games.

Are Provably Fair Games Always Legit?

A provably fair game at a bitcoin casino can be legit or not. There are, indeed, legitimate and verifiable casinos that offer provably fair titles. You can gamble with cryptocurrency with peace of mind when you play these games.

However, there are still sites out there that advertise “provably fair” games that are actually manipulated. These crooks are well aware of how much time and effort it takes to learn the ins and outs of the Provably Fair protocol. Therefore, they make some little adjustments that will not be seen by the average consumer.

As a result, you should always verify that the provably fair game you found on the site you chose is legit. Check out the game developer’s website to learn more about the titles they offer.

Before playing these games, you should be certain that the online casino in question is also safe. The best way to be sure of this is by checking if the operator has a license. This certificate shows that it operates according to the gambling rules of the regulatory body.

Checking for a license is simple. Many operators place this information in the footer of their websites so that it is easily accessible. You can also check if the license is still valid by looking up the casino’s license number on the website of the governing body.  

In addition to checking the license, read the terms and conditions of a crypto casino before signing up. Many players fail to do this and end up signing up on a scam site or a platform with unreasonable terms. If you’re not comfortable with the operator’s conditions, look for a better alternative. 

Can You Hack Provably Fair Casino Games

In a provably fair casino, even the most skilled players will have no chance of cheating or hacking the system. One of the reasons is that there’s currently no machine that’s quick enough to decipher the hash code and reveal the winning hands to the player.

Second, the blockchain, where information is kept and shared between nodes, is at the heart of provably fair casinos. If a single node spots suspect behavior, the rest of the network is alerted, and the offending user is promptly removed from the ledger.

Third, bitcoin casino sites have put in place security measures to keep their customers’ personal and financial information safe. Even if you were a brilliant hacker, you would hardly be able to get past their defenses. Provably fair gaming sites use robust encryption for all sensitive data, including user registration, deposit and withdrawal information, and customer support communications.

Common Questions About Provably Fair Gambling Systems

Are there any fake provably fair sites?

Crypto casinos that offer provably fair games are safe, provided they are licensed by a regulatory body. A license shows that it operates according to the criteria laid down by a regulatory authority. Plus, you won’t be revealing any financial information, so your funds are safe.

I’m not tech-savvy. Can I still use these sites?

You can enjoy bitcoin gambling even if you’re not tech-savvy. The best operators build their sites to be simple and well organized, so navigation is a breeze. Furthermore, the best of these provably fair casino sites are mobile-compatible, which allows you to enjoy their offerings even on the go.

What are fair spins? Do these involve provably fair gambling?

When playing these provably fair titles, you can be certain that every spin is fair. This is thanks to the algorithm that lets you verify the game’s fairness.

One Reply to “What Does “Provably Fair” Mean For Crypto Casinos?”

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright (C) 2023 Bet999. All Rights Reserved.