If you’re a person involved in the gaming and online betting industry, it’s hard to imagine you haven’t heard of blockchain. Wrapping one’s head around exactly what blockchain is can be challenging. Although, once one understands the technology, recognizing the benefits of the blockchain for the gaming industry becomes remarkably easy.
The online gambling industry is always looking for technological innovation, and the integration of blockchain gaming is no exception. When operators began to offer betting services online, it was a cutting-edge revolution. Since then, the industry has only been on an upwards trajectory, and continues to gain traction in the daily lives of many.
The advent of blockchain technology — and its integration into the online gambling and gaming industry — has paved the way for companies like GAMBL, a blockchain platform built specifically for the industry.
Blockchain Technology in Gaming
Blockchain technology comes with many benefits, including robust digital security, traceability, transparency, affordability, and improved efficiency. Much of this can be attributed to the decentralization at the center of blockchain’s function.
In more traditional (i.e., centralized) industries, operators continue to hold control over users’ data and funds. With blockchain gaming, however, users are able to control their own funds, winning payouts are guaranteed, data is private, and services are fair.
Betting on GAMBL
GAMBL is bringing many benefits to the market for bettors, operators, and investors. Since its inception, gambling and betting have been a central behavior of the online gaming industry. By working on the blockchain, GAMBL makes online betting safer, more secure, and removes the issues that come with a centralized governing agency.
GAMBL founders Jason Tauriello and Mario Fiorini bring a combined 35 years of experience in the gaming industry to the table. Neither is a stranger to the benefits of blockchain technology. Both founders are committed to bringing a platform to the industry that is, first and foremost, by the people and for the people. The platform offers sportsbook, betting, casino, lottery, and poker services — all popular online gambling activities — combined in one user-friendly app.
The integration of decentralized blockchain technology allows GAMBL to bring some exciting advantages to the world of online gambling. For starters, blockchain’s distributed ledgers allow for safer and more secure betting for users in any location. There is also an increase in transparency and cost savings, leading to greater profitability for users that they are sure to prefer over the old, centralized platforms.
“Users can retain control of their own funds and bet without limitation or restriction. Decentralization also removes all geographical barriers, meaning that it is possible for a gaming blockchain to access a global market and tap into an industry whose total size can only be estimated,” explains Tauriello.
GAMBL prides itself on its intuitive UI and global accessibility. These features open the door for users new to blockchain-based platforms, allowing them to dip their toes into the waters and find comfort with this new frontier before fully diving in.
Creating a Deflationary Economy
The GAMBL coin seeks to remain deflationary, meaning as use of the coin increases, the supply decreases. GAMBL builds this deflationary economy through the destruction of gaming profits. This deflation creates a provably fair, safe, and secure gambling platform, preventing over-flooding of the market with their coin, and subsequently increasing its value as a result. GAMBL rewards users in lieu of profits in standing with their “by the people, for the people” approach.
Sports betting is a form of entertainment as old as Roman gladiatorial games and the Olympics. It’s a well-established industry, and one that still grows in popularity and participation year by year. Billions of dollars are gambled every year worldwide. Innovations in the gambling industry that stand to give players more ways to win, maintain and use their winnings, and stay secure while doing so are bound to disrupt this established industry. GAMBL has emerged as one of these leading disruptors, changing the face of a well-loved online pastime and bringing control back to the people.