Things to Know About Provably Fair Gambling

Things to Know about Provably Fair Gambling
Things to Know About Provably Fair Gambling

Everyone wants to play at fair, trustworthy online gambling sites. As you might expect, with this being specific to Bitcoin, it doesn’t need to rely on a third party, it makes games totally transparent. It also makes use of advanced cryptography to ensure game outcomes haven’t been tampered with. This is where the provably fair method comes into play. You can verify the results for yourself in real-time.

But what exactly is provably fair gambling? How does it work? How and why does it make Bitcoin gambling so transparent? Let’s explore all of that here.

As it is evident, the ramifications of provably fair gambling are revolutionary.

What Is Provably Fair Gambling?

What Is Provably Fair Gambling?
What Is Provably Fair Gambling?

It is a process where a player can verify that the outcomes of games have been fair in real-time. In this, he makes use of three types of technologies:

  • Random Number Generators
  • Hashing
  • Seed Generators

If it has made your head spin, don’t worry. We’re going to show you what each of these three things means.

1. Random Number Generators

This technology generates millions (sometimes billions) of numbers per second and determine game outcomes.

2. Hashing

It is all about the transformation of a longer string of data into a shorter string. In the context of provably fair gambling, when a seed number is hashed, it is encrypted. For all practical purposes, the cryptographic hashes used at Bitcoin gambling sites are nearly unbreakable. This says you can be sure they haven’t been tampered with.

3. Seed Generators

This forms the numbers which are fed into algorithms, which in turn ascertains outcomes. In this system, players get to add a seed number, ensuring the casino isn’t in control of the outcome.

How Provably Fair Gambling Works

How Provably Fair Gambling Works
How Provably Fair Gambling Works

Having an idea about the above concept, it is time now to describe step by step how provably fair gambling systems work.

  • The gambling site develops a seed number which is then hashed and sent to the player.
  • The player adds his or her own seed.
  • The bet plays out, and the outcome is determined.
  • When the bet has played out, the player receives the seed used in the bet.
  • The player can then verify the bet. If any interference has occurred, the hash function would not be verified, and the player would know.

The Problems this system Solves and Doesn’t Solve

The Problems this system Solves and Doesn’t Solve
The Problems this system Solves and Doesn’t Solve

Much like Bitcoin itself, provably fair solutions work on the problem of trust. You no longer require a middleman or third party to verify that a casino’s algorithm is fair. Since you have intervened in the process of a game outcome by providing a seed that changes something, the casino is no longer fully in control.

However, while provably fair gambling enables you to verify that game outcomes are truly random and haven’t been interfered with, there are several problems it does not solve.

1. Withdrawal Restrictions

This is another way a casino can put the screws on you. You can win fair and square, yet the casino can make it tough to withdraw and/or can apply excessive withdrawal fees.

The only way to find out if a casino plays fair when it comes to withdrawals is to either visit the site and read through the terms and conditions or check out our trusted Bitcoin gambling site reviews. Withdrawal fees are covered, wherever they apply.

2. Terrible Odds

This system ensures that the outcome of a game is random in that the algorithm isn’t fixed or interfered with. However, it can do nothing about the underlying calculations of a given game.

One of the keys to winning more often is to know about the house edge of each game. If you choose a game like keno, which has terrible odds, you can expect to lose most of the time. If you choose a game like blackjack, which has a house edge of as little as 0.5% in some cases, you have an improved chance.

Do not forget – provably fair gambling cannot change the algorithm of casino games. It can’t improve your odds of winning. It can only ensure you don’t get cheated.

3. Stolen/Sold Details

If someone hacks the casino and steals your details, provably fair gambling can’t do anything in this. You might think that casinos with this level of experience in cryptography would be immune to this type of breach, but that’s not always the case.

It’s still important to select a safe, secure Bitcoin gambling site. Again, reviews can help you do that.

Advantages of Provably Fair Gambling

Provably fair gambling, also known as provable fairness, has gained popularity due to several advantages it offers over traditional online casinos. Here are the main benefits of playing at provably fair sites:

You Can Check Your Own Bet Results

One of the key advantages of provably fair gambling is the ability for players to independently check and verify their own bet results. Unlike traditional online casinos, where the fairness of the games is controlled internally by the site and its software providers, provably fair sites empower players to personally verify the integrity of their bets. This level of transparency allows players to have complete confidence in the fairness of the games they are playing, as they can scrutinize and confirm the randomness of the outcomes themselves. By being able to check their own bet results, players have an inherent advantage over regular online casinos that do not provide such a verification process.

Elimination of Third-Party Auditing

Provably fair gaming eliminates the need for third-party auditors or testing labs. While respected testing agencies like eCOGRA and iTech Labs ensure fair gaming at traditional online casinos, not all licensing authorities require auditing. This leaves room for potentially unscrupulous operators to offer illegitimate games. With provably fair casinos, players can act as their own auditors, independently verifying the fairness of the games without relying on external certifications.

Familiar Casino Experience

Provably fair casinos offer a familiar and comprehensive gambling experience similar to traditional online casinos. Players can enjoy bonuses, quality games, VIP programs, and reliable customer support. Welcome bonuses, often provided in cryptocurrency, allow players to kickstart their gaming with additional funds. The game quality at provably fair sites has significantly improved, providing graphics and features comparable to traditional games. VIP programs offer various rewards such as cashback, free spins, and gifts, while customer support ensures that players receive assistance whenever needed.

Higher Return-to-Player (RTP)

RTP refers to the percentage of wagered money that a casino game pays back to players over time. Provably fair casinos generally offer higher RTP rates compared to traditional online casinos. While the average online slots may have a payback ranging from 95% to 96%, provably fair slots can provide up to 99% RTP. Similarly, blackjack games at provably fair casinos often offer around 99.5% payback. These higher RTP rates provide players with better long-term odds of winning, increasing their chances of profitability.

Limitations of Provably Fair Gambling

  1. Game Quality and Design: While some provably fair casinos have improved their game offerings in terms of graphics and features, there are still platforms that offer rudimentary games with low-quality graphics and basic gameplay. This can detract from the overall gaming experience, especially for players who value visual appeal and immersive gameplay.
  2. Exclusive Use of Cryptocurrency: Provably fair casinos typically require players to deposit and withdraw using cryptocurrencies. This can be a drawback for gamblers who are not familiar with or comfortable using digital currencies. The process of acquiring and transferring cryptocurrencies can be complex and time-consuming, especially for those accustomed to traditional payment methods like credit cards or eWallets.
  3. Understanding Crypto Denominations: Another consideration is the need to master the value of each cryptocurrency and its corresponding denominations. Unlike traditional currencies, cryptocurrencies often lack named denominations, which can make it challenging for players to accurately assess the amount they are betting. Converting crypto amounts to fiat values requires extra effort and can lead to confusion, particularly when dealing with multiple cryptocurrencies.
  4. Volatility of Cryptocurrencies: Cryptocurrencies are known for their price volatility. The fluctuating value of cryptocurrencies can pose a risk to a player’s bankroll. Market fluctuations can result in significant changes to the value of funds held in cryptocurrency, potentially leading to unexpected gains or losses. This level of uncertainty may be unsettling for players who prefer a more stable currency and wish to avoid the additional risk associated with market fluctuations.
  5. Limited Availability of Traditional Currency Options: Provably fair casinos often focus exclusively on cryptocurrencies, which means players may have limited or no access to traditional currency options such as USD, EUR, or GBP. This can be a drawback for players who prefer the convenience and familiarity of wagering with their local currency.

Provably Fair Slots

Provably fair slots are one of the most popular games offered at provably fair gambling sites. These digital slot machines operate on the same principles as traditional slots found in brick-and-mortar casinos or online gambling platforms. However, what sets provably fair slots apart is the ability for players to independently verify the fairness of each spin.

Provably fair slots use cryptographic algorithms to ensure that the outcomes are truly random and cannot be manipulated by the casino or players. Players can check the randomness of the results by using the provided tools and verifying the hash value and seed used to generate the outcome. This transparency and verification process provides players with peace of mind and confidence in the fairness of the game.

Provably Fair Poker

Provably fair poker brings the popular card game to the provably fair gambling realm. Players can enjoy various versions of poker, including Texas Hold’em, Omaha, and Stud, knowing that the outcomes are genuinely random and unbiased.

In provably fair poker, players can verify the fairness of the game through the use of cryptographic proofs. The deck of cards used is typically shuffled using a provably fair algorithm, ensuring that the deal is random and cannot be manipulated. Players can verify the fairness of the shuffle and the distribution of cards, adding an extra layer of transparency and trust to the game.

Provably Fair Dice Games

Dice games have been a staple in the gambling world for centuries, and provably fair dice games bring this classic form of gambling into the digital age. These games typically involve players betting on the outcome of a roll or series of rolls of a set of dice.

With provably fair dice games, players can verify the fairness of the rolls by examining the cryptographic proofs provided. The seed and hash values used to determine the outcome of each roll can be independently checked, ensuring that the results are genuinely random and not tampered with by the casino.

The transparency and verification offered by provably fair dice games give players confidence in the fairness of the game and allow them to make informed betting decisions based on their own analysis.

How to Verify Fairness in Provably Fair Gambling Games

To verify fairness in provably fair games, you need to understand a few cryptographic basics. There are three components involved in determining the outcome of each game round: the server seed, the client seed, and the nonce.

  1. Server seed: Before starting the game, the casino provides you with an encrypted hash of the server seed. This hash contains the entire game, making it impossible for the casino to change the outcome. As the hash is encrypted, you cannot calculate the results of the upcoming rounds.
  2. Client seed: As a player, your browser generates a client seed. This seed is important because it allows you to check the secret seed after the game round concludes.
  3. Game Round: The game round takes place using the client seed. Once it finishes, the casino reveals the original seed.
  4. Verification: To verify fairness, you can use a third-party calculator like Xorbin. By generating the SHA256 hash of the server seed through Xorbin, you can compare it with the provided server seed. If the generated hash matches the server seed, it confirms that the casino has not tampered with your bet.

Additionally, it is recommended to adjust the client seed before starting the game. This ensures that the casino does not know the client seed in advance, adding an extra layer of security to the verification process.

How to Pick the Right Provably Fair Gambling Site

How to Pick the Right Provably Fair Gambling Site
How to Pick the Right Provably Fair Gambling Site

There are lots of provably fair sites out there. So, which one should you pick? We’ve written in-depth “how to pick a casino” guides elsewhere on this site, but there are some things which are unique and specific to provably fair sites which we’ll cover here. Of course, the “common sense” things that apply when selecting any gambling sites apply here, too.

Remember, just because a site claims to be “provably fair” doesn’t mean it is. You’ll still want to get the opinion of experts before signing up.

1. Look That It Accepts Your Preferred Cryptocurrencies

This is a no-brainer, but as nowadays everybody has their “preferred” cryptocurrency, it’s worth taking some time to out to which cryptos the site you’re considering offers.

For example, there are provably fair sitesthath only accept Bitcoin, whereas there are others that accept Litecoin, Ethereum, and some other cryptos.

2. Check That It’s 100% Safe

Sloppy security will be punished at any casino, but it will be discovered and exploited in no time at all when it comes to the Bitcoin community. In case you hadn’t realized, some of the people who are involved in this space have some seriously advanced computer skills, and some of them have bad intentions.

There are sites that offer high-security solutions to give you peace of mind. Like, some offer multi-signature cold storage. It means your crypto is stored on a hardware wallet, offline, and approval from multiple key holders is required to access funds.

That’s the kind of security you need to see when it comes to provably fair casino sites.

3. Check That It Offers the Services You Want

There are some sites that are provably fair casinos, some which offer provably fair sports betting, some which are lotto-based sites, and the rest offers a mix of gambling services.

Which site is right for you really depends on what you’re looking for as a player. We can’t tell exactly what you want, but we can tell you exactly what each site offers. We do so in our reviews.

4. Check That It’s Truly Transparent

Transparency is a trait we like in all gambling sites, especially when it comes to provably fair ones.

There are sites that list every bet placed in real-time, time-stamped, with usernames (if the user has chosen to share this, bets odds, bet amounts, and profits all updating on the blockchain as games and sporting events unfold.

There are also sites that publish their game source codes for the Bitcoin community to inspect and check out. While everyday players won’t necessarily understand this code, it does go a long way to proving that these sites are open, honest, and fair. You can be sure someone, somewhere, would spot anything suspicious in the code and expose it.

Other Unique Features It Offers

Other Unique Features It Offers
Other Unique Features It Offers

Provably fair gambling sites often deliver unique features that regular casinos don’t. These tend to cater to the specific needs of crypto-players.

For instance, some sites offer enhanced privacy features such as coin selection algorithms. This includes an added element of privacy to your gambling activities.

You will also come across sites that allow you to “be the bankroll” and increase your Bitcoin slowly but surely. Some of them even publish the overall house edge, allowing you to invest your Bitcoin for consistent returns.

Other cool features you will find while reviewing provably fair sites include automated betting, the ability to program “hotkeys” to perform casino functions automatically (such as hitting or standing in blackjack), and social functions like the ability to chat with other players, betting leader boards, and forums to explain the ins and outs of how a site works.

All of these “small things” can make a big difference in your overall betting experience. Take the time out to discover what each site offers before picking one.

Bonuses and Promotions it offers

Bonuses and Promotions it offers
Bonuses and Promotions it offers

Not every such site offers bonuses and promotions. Some of them do, though. You’ll find cashback bonuses, daily rewards, loyalty bonuses, and all sorts of bonuses at the best provably fair betting sites.

However, not every site offers bonuses. You’ll have to find the sites which offer precisely what you want. Remember to always check the terms and conditions of bonuses offered.

Conclusion

Provably fair gambling has revolutionized the online gaming industry, bringing transparency and fairness to players. By leveraging cryptographic algorithms and blockchain technology, provably fair systems provide verifiable proof of the integrity of game outcomes.

This not only enhances trust between players and operators but also promotes a more enjoyable and secure gambling experience. Understanding the principles behind provably fair gambling empowers players to make informed decisions and ensures they can enjoy their favourite games with confidence.

As this innovative concept continues to evolve, provably fair gambling is poised to shape the future of online gaming, setting new standards for fairness and transparency.

Mamta Sharma

Mamta is a spirited writer hailing from Wellington, bringing a youthful zest to the world of digital content. Merging her love for narrative with an eye for detail, Ella crafts stories that resonate and engage the modern reader.