Provably Fair Bitcoin Casinos
Online Bitcoin casinos provide players with the opportunity to play on secure platforms, use a trusted payment system, play provably fair games and make fast withdrawals and cashouts. The casinos use the provably fair algorithm, a code based on the blockchain technology, to achieve the features listed. This algorithm ensures that every game offered by the casino is totally fair. This has made provably fair bitcoin casinos the safest gaming option in the online gambling industry.
In this guide, you will read the complete details about provably fair casinos and also get a listing of the best provably fair bitcoin casinos in the world.
List Of Best Provably Fair Bitcoin Casinos 2022
What are Provably Fair Bitcoin Casinos?
Provably fair casinos are the future of gaming and gambling. Every online casino that isn’t provably fair will certainly lose all its customers and eventually close shop. Likewise, do not trust every betting site you encounter; almost all of them are not provably fair. They are in business to manipulate the outcome of your bets and the game’s outcome.
To forestall such manipulation, the bitcoin gambling world has come up with terms like ‘Provably Fair,’ which allows players to verify their bets to ensure that they are not being cheated.
Provably fair system and gaming are terminologies unique to the online cryptocurrency casino industry. This industry gives players access to full transparency. All the wagering outcomes are verifiable on the blockchain technology. This gives players the assurance that they are fair and correct.
Cryptocurrencies, especially bitcoin, make use of a crypto algorithm featuring hash functions, which are almost impenetrable and extremely difficult to crack. The blockchain technology is 100% immutable and transparent. Every transaction made through this technology is verifiable on a public ledger that is almost impossible to hack. In addition, the blockchain technology code implies that there’s no need for human interference, so all forms of human errors are eliminated.
Provably fair bitcoin casinos depend solely on the blockchain technology, ensuring that every wager outcomes are accurate. Players also have access to verify the correctness of the result of their gameplay. This makes them feel secure playing at a trustworthy casino.
To play provably fair casino games, you can choose any bitcoin online casino in our top brand listing:
- Fun88 casino
- Jeetplay casino
- Spin casino
- Leovegas casino
- Betway Casino
Understand the Working of Provably Fair Casinos
The workings of bitcoin casinos are a bit complicated, particularly for persons who have little knowledge about cryptocurrencies and bitcoin. To fully understand how provably fair casinos work, we will be examining the following variables:
1. Hashing
- Cryptographic nonce
2. Seed
- Server seed
- Client seed
Hashing
The hash algorithm processes the input of data & outputs a long random numbers and letters. Data of any length and size can be processed into a hashing algorithm. The given output usually has the same length. The most secure and popular hashing algorithm is the SHA-256. Hashing algorithms are popularly known for password security. In other words, you cannot determine the password, i.e., input from the hash 1.e., output. The hashing algorithms are perfect for measuring input changes. Furthermore, hashing changes a long data string to a short string. The randomness of the server seed and hashing makes it difficult for operators to tamper with the crypto.
Seeds
Provably fair bitcoin casinos usually provide players with a client seed and a server seed. These seeds give you verification access. The seeds added to a nonce (unknown number, usually the bet number of the player) are hashed for validation. A verifier will verify the hashes of the combination. This verifier will then match the combination against the expected hash. The hashes may or may not match. If they match, it means that the randomness was not tampered with and that the game was fair.
Pick Provably Fair Bitcoin Casino Site
Before choosing a provably fair casino, certain factors should be considered. These factors are explained below.
Blockchain Technology
The blockchain technology powers provably fair games and casinos, which in turn ensures transparency. This technology is also the brain behind the different cryptocurrencies that we have today, and it makes bitcoin casinos accountable to players on how they operate. The blockchain ledger is another method used by provably fair casinos to assure their players of transparency. Players who need verification of their transactions have access to this ledger.
Also, with the blockchain technology codes, everything is unchangeable and fixed. This means that casino operators will find it very difficult to reverse it to favour themselves.
Higher Return to Player Percentage (RTP)
This is an important factor in the gambling career of any player. RTP determines the percentage that accrues to a player after winning a game. The RTP is usually up to 99 percent for provably fair games and not 97% or lower, given by regular casinos. For example, the RTP of BTC lottery games in some casinos is up to 99.5%.
No Third-party Authentication
Almost every regular casinos have gone through auditing by third-party authenticators or other testing labs. But, because of the blockchain technology utilized by bitcoin casinos, third-party auditing and authentication are eliminated. The elimination of third-party auditors means that bitcoin casino players using the provably fair method are their auditors. This is the highest level of gaming transparency.
Low House Edge
Provably fair casinos usually operate at a low cost. So they set a low house edge compared to regular online casinos. This surely increases the profitability of players.
Promotions
Bitcoin casino promotions are unique and one of a kind. Crypto casinos have lots of perks that ensure a thrilling gaming experience for players.
Why Choose to Play Provably Fair Bitcoin Casinos?
The benefits of playing at provably fair casinos are numerous. Below are some of the pros of provably fair gambling:
Quicker Transactions
Getting lucky is not an everyday thing; however, you may get lucky and win lots of cash sooner than you think. But you may require more than luck to cash out your winnings when wagering at regular online casinos.
Many online casinos take up to 7 working days to process your withdrawals and transfer your funds into your bank account. Some casinos even claim that there are discrepancies in your winnings. This is because they claim to see faults in the way you played the games. But when playing at provably fair casinos, it doesn’t take up to 24 hours to process your withdrawals.
With the introduction of bitcoin casinos, there is a positive change in the methods of transaction. This is a radical change from the ways traditional casinos were making transactions. Financial transactions when gambling has never been this fast. Whether you are sending or receiving payments, it takes a matter of minutes to process.
All that is required of you to enjoy this swift transaction process is to link your crypto wallet with your casino account.
Safety of Funds
When playing at an online casino, you will be required to enter your credit or debit card details to complete your transactions. Everyone knows this payment method to be risky, bearing in mind the increase in cyber threats, especially when it concerns financial transactions. For example, the casino site may store your details and give them to a third party for several reasons, or a hacker might gain access to your account, syphon your money and steal your details for criminal acts.
But when you play at bitcoin casinos, such threats are eliminated. Just connect your casino account with your crypto wallet, and you are safe to play.
Security and Privacy
Many online game players prefer anonymity when playing their favourite games. This preference is well understood. But before playing at any online casino, you are required to complete a form, providing your details and clear other legal terms and conditions. Sometimes, you will be asked to complete a customer (KYC). The process is usually long, and you may lose interest and will to play in the long run.
However, when playing at online bitcoin casinos, all you need is a bitcoin wallet address and your email account. Once you are able to provide these data, you can immediately embark on your gaming adventure.
Transparency and Clarity
The saying, “house always wins’ is one that is true when playing at traditional online casinos with a house edge. Unfortunately, due to the fact that these online casinos use private networks, there is little you can do when the casino decides to swindle you of your hard-earned money.
But when playing at esports bitcoin casino powered by blockchain technology, you will be given a transparent record of your transactions. This serves as a guarantee that the casino cannot cheat you.
Provably Fair Bitcoin Casinos vs. Other Bitcoin Casinos
What are the differences/similarities between a provably fair casino and other bitcoin casinos? The differences between provably fair casinos and other bitcoin casinos are usually misunderstood and overlooked. Below are the major differences/similarities between both casinos.
Provably Fair Bitcoin Casinos
- Provably fair casinos use smart contracts and blockchain technology to ensure that their games are fair.
- Because of the blockchain technology, provably fair casinos accept payments in BTC and other cryptos.
- Probably fair casinos provide seeds and process games through complicated equations to get results.
- Probably fair casino offers games whose transparency can be verified.
- Players can verify the outcome of games via a public ledger that displays every probably fair game outcome.
Other Bitcoin Casinos
- The blockchain technology does not power Bitcoin casinos. So it is difficult to verify that their games are fair.
- Bitcoin casinos are online casinos that accept crypto deposits and payouts. When playing bitcoin casino with live dealers, you can deposit BTC or other cryptos and place your wagers using your BTC.
- Bitcoin casinos use a PRNG algorithm to determine the outcome of every bet.
- The transparency of games offered by other bitcoin casinos cannot be verified.
- At bitcoin casinos, game providers hide their PRNG equations, making it impossible for players to verify the outcome of games.
Frequently Asked Questions
Can I hack provably fair casino games?
Although the games offered by provably fair casinos are secure and safe, they can still be tampered with by humans. For example, if casinos publicize the games’ algorithm, players can hack and interfere with the workings of the games.
Are bitcoin casinos fair?
Most bitcoin casinos are fair and trustworthy. They give players access to verify the fairness and transparency of games. In addition, provably fair games are developed to improve players’ experience with seamless gameplay and increased variety.
Are there minimum deposit requirements at probably fair bitcoin casinos?
Yes. Some casinos require you to deposit a minimum amount of bitcoin to begin your gambling adventure with them.
Conclusion
In the online gaming world, provably fair bitcoin casinos are the new entrants, and they have created a unique niche for themselves. These casinos are increasing in popularity by the day. More fun-seeking players are trooping into these casinos to take advantage of the numerous benefits they have on offer.