Blockchain Secures A$2B in Betting
Blockchain technology has significantly evolved over the past couple of years. The platforms have collectively secured billions of AUD, aiming to transform the gambling industry. This shift came on as more punters sought faster and transparent transactions, with all the security.
Blockchain-based betting sites have already surpassed A$2 billion after betting on elections and other notable events. This rise in the popularity of gambling led to the annual revenue massively growing, reaching billions in Australia and worldwide.
The explosive growth shows great potential for platforms such as king-johnnie-aus.com, as they are gradually adopting blockchain technology. In this article, you will find out about what this means for punters and how it will revolutionize betting.
What Does This Mean for Punters
With this milestone surpassed, users can expect more casinos to adopt the decentralised system. For punters, this could mean the following:
- No More Middle-Men. This reduces withdrawal processes, as the funds no longer have to pass through so many approval processes.
- Clear Transactions. Every payout, bet, or contract gets stored permanently. Players can access it whenever they want.
- Transparent Odds. Since betting odds can’t be manipulated by a centralized operator, the bets are more transparent than ever. This is thanks to the Provably Fair technology.
- Anonymity: Decentralized systems let punters bet through a Web3 wallet while also using a pseudonym. This benefits players keen on privacy or those living in highly regulated areas.
Blockchain reaching this threshold also means punters get access to more than just pokies and sports betting.
Users can bet on cryptocurrency prices, election results, pop culture events, and even scientific discoveries. This gives them better control and a broader range of options.
This growth in volume suggests that the blockchain infrastructure is becoming increasingly accepting of gambling. To this day, up to A$2 billion has already been invested in the iGaming protocol, which suggests a steady streak.
Growing Need for Speed and Trust
Standard, centralized platforms used for betting can be frustrating. They can adjust odds without prior notice, and they delay payouts to no end. This frequently happens when punters use unreliable casinos that can’t be tracked.
Blockchain feeds on the user’s need for trust and speed and offers great transparency. It is one of the reasons why crypto casinos hit about $81B (about 126 AUD) in 2024. Each transaction is recorded permanently and verified, and gamblers no longer have to pass difficult systems.
This is particularly promising for areas with strict gambling regulations. Migration to a decentralized system offers better access with fewer geographic restrictions. This lets punters access their bets and earnings whenever they want, without worrying that their wins will be restricted.
How King Johnnie Casino Will Respond
At this point, we can assume the following with the rise of blockchain-based gambling.
First, we will likely see more casinos use a hybrid model. These will combine traditional structures with decentralised elements, and gamers will be allowed to choose which option they want to use.
We will also see more casinos that operate in regulated markets switching to blockchain licenses. The elements of these licenses are for security purposes and can include smart contract audits or staking limits. Some jurisdictions, such as Curacao Gaming (the one covering King Johnnie Casino), are already drafting a framework to control the area.
Bookmakers and banks alike can refine their ways of operation once they integrate blockchain. For bettors, this means protection against identity theft and fraud. Self-executing smart contracts will also lead to fewer risks of manipulation once the framework is implemented.
Blockchain securing A$2 billion in betting is good news for every category of player out there. It shows significant adoption of a secure and faster, decentralised system, which creates trust. With time, punters can expect Provably Fair outcomes at every corner, faster payouts, and access to a diverse market.
Disclaimer: This is a paid post and should not be treated as news/advice. LiveBitcoinNews is not responsible for any loss or damage resulting from the content, products, or services referenced in this press release.
The post How Blockchain Securing A$2B Can Change the Future of Betting appeared first on Live Bitcoin News.