Online casinos have been on the rise lately, solidifying their dominance with millions of users flocking in daily. According to gambling market growth analysis by various firms, the casino market is expected to attain a value of 480 billion dollars in 2025, with major growth expected on cryptocurrency-based gambling platforms.
Crypto casinos provide a wide variety of opportunities to engage in and offer fast low-cost transactions with global accessibility, bypassing the issues of regulations associated with fiat counterparts. Despite the benefits, the lack of thorough oversight by an authority and the complexity of blockchain technology demand the players to do their own research to ensure a fair gaming experience.
While new gamblers arrive in the niche to satisfy their gaming urge and earn exponential returns, the number of scammers looking for opportunities to bait them has also increased. This article provides a guide to verifying the fairness of a crypto casino by detailing the signs of both legitimate and scam platforms.
Signs Of A Scam Crypto Casino
With scammers inventing innovative ideas to loot our funds, it is hard to identify fraudulent platforms pretending to be legit crypto casinos. Statistics say that there are more fake crypto casinos than real ones. However, we can find common signs of these scams to an extent that can help us check whether we are dealing with a trustworthy platform or a fake website.
- No Provably Fair: The provably fair system allows the users to verify the fairness and randomness of a platform using a series of cryptographic codes and mathematical algorithms. If a crypto casino is not providing a provably fair system, then there is a high probability for it to be a scam.
- No Secure Payment: Safe crypto casinos always use blockchain-based transparent payment methods that can be verified by anyone. Fake ones usually offer strange payment methods that lack traceability and transparency, making it easier for them to steal our funds.
- Deceptive Interface: Shady crypto casinos have deceptive interfaces filled with fake testimonials and exaggerated claims. They usually are filled with low-quality applications and poor designs. Also, they have vague terms and conditions deliberately written to confuse the users.
- Poor Reviews: Before engaging with the platform, users should access online casino communities and trusted experts to review the genuineness. Generally, scams will be accompanied by negative reviews complaining about unfair games, payout delay issues, or disappearing funds.
What Makes A Crypto Casino Legitimate?
Apart from a provably fair system, legit crypto casinos usually offer security, transparency, privacy, and extremely user-friendly interfaces. Popular platforms incorporate industry-standard encryption methods and Two-Factor Authentication (2FA) for extra protection. They also have clear terms and conditions that are understandable to every participant and 24/7 support through live chat or audio calls.
An important factor is that legit crypto casinos offer a wide variety of games curated after extensive research. They facilitate smooth deposits and transparent payouts without any hidden charges or criteria. In some jurisdictions, such as the US states where online gambling is legal, the authorities provide licenses to legit online casinos. Thus, you can also check the authenticity of a platform by verifying its license.
How To Check If A Crypto Casino Is Fair?
Doing basic web research to learn what others are saying about a specific crypto casino is obviously the basic step to take while enquiring the fairness. Additionally, doing thorough research on your own will help. Here are the things to note while researching:
Fair Play Policies:
To ensure the randomness of the results while playing, legit casinos incorporate fair play algorithms. You can check the About section and policies of the platforms to verify it.
Secure Transactions:
Whether it is an in-game transaction or the withdrawal procedure, look for fairness by checking whether they use globally renowned payment widgets. Also, if they charge additional fees for any of these processes, reconsider using the platforms.
Customer Support:
Legit crypto casinos have instant customer support to ensure a smooth gaming experience. You can also clarify doubts regarding the legitimacy through this communication.
Third-Party Audit:
Fair casinos are regularly audited by various reputed international organizations to confirm there is no foul play. You can verify the trustworthiness by accessing renowned auditing organizations such as eCOGRA (eCommerce and Online Gaming Regulation and Assurance) and TST (Technical Systems Testing).
Final Thoughts
Verifying the genuineness of a crypto casino platform is a mandatory step to avoid losing your hard-earned funds. If you feel like a platform is trustworthy, it is also important to double-check the parameters. Additionally, various gaming websites provide blacklists of crypto casinos doing malpractices, and it is worth checking out those lists. Finally, always do your own research to survive the crypto casino realm.