Provably Fair Gambling [What you need to know]

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 transparent. It also uses advanced cryptography to ensure game outcomes aren’t 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 this has made your head spin, don’t worry. We’ll explain what each of these three things means.

1. Random Number Generators

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

2. Hashing

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

3. Seed Generators

This forms the numbers fed into algorithms, which in turn ascertain 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 Works

In essence, provably fair gambling uses cryptographic functions to ensure the randomness of game outcomes. Here’s a simplified breakdown of the process:

  1. Seed Generation: The casino generates a secret “server seed” and shares a hash (think of it as a scrambled version) with you.
  2. Your Contribution: You, the player, add your “client seed” to the mix.
  3. Game Play: The game runs its course and determines the outcome.
  4. Verification: After the game, the casino reveals the original server seed. You can then use a tool like Xorbin (or other provably fair calculators) to compare the hash with the generated seed and your client seed. If everything matches, it mathematically proves the game wasn’t tampered with.

Remember, provably fair gambling doesn’t guarantee you’ll win, but it ensures the house edge is fair and the game isn’t rigged.

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, provably fair solutions work on the trust problem. 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, it does not solve several problems.

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 can apply excessive withdrawal fees.

The only way to determine if a casino plays fair regarding withdrawals is to 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 key to winning more often is knowing 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 that 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 help. You might think that casinos with this level of cryptography experience would be immune to this breach, but that’s not always true.

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 its advantages over traditional online casinos. Here are the main benefits of playing at provably fair sites:

You Can Check Your Bet Results

One key advantage of provably fair gambling is the ability for players to check and verify their bet results independently. 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 verify the integrity of their bets personally.

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 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. In contrast, 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 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 rewards such as cashback, free spins, and gifts, while customer support ensures players receive assistance whenever needed.

Higher Return-to-Player (RTP)

RTP refers to the percentage of wagered money 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 offer around 99.5% payback at provably fair casinos.

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 regarding graphics and features, some platforms still 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 unfamiliar with or comfortable using digital currencies. 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, making it challenging for players to assess the amount they are betting accurately. 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. Their fluctuating value 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 among the most popular games at provably fair gambling sites. These digital slot machines operate on the same principles as traditional slots in brick-and-mortar casinos or online gambling platforms. However, players’ ability to verify each spin’s fairness independently sets provably fair slots apart.

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 game’s fairness.

Provably Fair Poker

Provably fair poker brings the popular card game to the provably fair gambling. 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 game’s fairness through cryptographic proofs. The deck of cards is typically shuffled using a provably fair algorithm, ensuring the deal is random and cannot be manipulated. Players can verify the shuffle’s fairness and the cards’ distribution, adding 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 game’s fairness and allow them to make informed betting decisions based on their analysis.

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 that 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 nowadays, everybody has their “preferred” cryptocurrency, so it’s worth taking some time to find out which cryptos the site you’re considering offers.

For example, some provably fair sites only accept Bitcoin, whereas others accept Litecoin, Ethereum, and other cryptos.

2. Check That It’s 100% Safe

Sloppy security will be punished at any casino, but it will be discovered and exploited quickly in the Bitcoin community. In case you hadn’t realized, some people involved in this space have seriously advanced computer skills, and some have bad intentions.

Some sites offer high-security solutions to give you peace of mind. Like, some offer multi-signature cold storage. This means your crypto is stored in 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 regarding provably fair casino sites.

3. Check That It Offers the Services You Want

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

Which site is right for you depends on what you’re looking for as a player. We can’t tell you 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.

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

Some sites publish their game source codes for the Bitcoin community to inspect and check out. While everyday players won’t necessarily understand this code, it goes 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, which add an extra element of privacy to gambling activities.

You will also come across sites that allow you to “be the bankroll” and increase your Bitcoin slowly but surely. Some 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.

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

Final Thoughts

As someone who enjoys online gaming, I believe introducing provably fair gambling has been a game-changer. It uses cryptographic algorithms and blockchain technology to bring transparency and fairness and allows us players to verify the integrity of games.

This has boosted my trust in gaming platforms and the industry’s future.

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.