A vast majority of people worldwide have gambled online, and the reason is simple: it’s fun and entertaining. But there is a part of this process that is hardly fun or entertaining, banking.

The Legacy System - Fiat Currency

The Banking options available at nearly every online casino are both slow and expensive, a major blow in an experience that is supposed to be fun and seamless. Payouts via Bank Wires, eWallets, or Carrier Checks often take days to weeks to receive, and that's only after your payout has been approved.

Along with this, we have to add the fees that are not gentle, taking the margin of profit from the player and reducing the actual win. As the odds usually favor the casinos, any reduction in winnings is always a disappointment.

The painful process of waiting for your winnings to arrive turn this experience from fun to stressful. But that all quickly changes when using the blockchain, and depositing with Bitcoin, or any other cryptocurrency for that matter.

Banking 2.0 - Using Cryptocurrency

Using crypto solves, without any doubts, the banking issues presented above, and this is something already live in the majority of traditional online casinos. Sometime between 2017 and 2018 nearly all online casinos started accepting Bitcoin for both deposits and withdrawals. This makes deposits, along with payouts nearly free and instant once approved. As crypto uses a distributed ledger (The Blockchain), making withdrawals nearly instant and a fraction of the cost charged by banks, it only made sense that players started searching for bitcoin casinos. Basically, this cuts out any third parties involved in taking profits, gets your winnings in your hand instantly, and has zero downside for those who already hold crypto. 

Review of WINk.org (Full Blockchain, Smart-Contract Casino) 

The Blockchain - Beyond Banking

Currently there are two types of ‘Bitcoin casinos’. There are the traditional online casinos that have been around for 10+ years. If you have played at any online casino recently, there is a good chance that casino now also accepts deposit by Bitcoin, along with credit cards. Then there are full blockchain casinos. These are online casinos that actually ran on the blockchain, and have no third party employees, as everything is automated by code called smart-contracts. Smart-contracts control everything including game play and odds, making each game provably fair. This means verifiable game fairness, something that was next to impossible with traditional online casinos. Smart contracts also control deposits and withdrawals. The biggest benefit to this is, you won’t even have to wait for approval before your withdrawal request is approved, you simply click withdrawal and the funds are instantly back in your crypto wallet.

There are currently several full blockchain casinos available for players in the form of Dapps. The word "Dapp" simply refers to decentralized applications. At the time of this writing WINk.org is currently one of the top Dapps available in terms of volume. WINk offers players access to all the traditional table games, and slots, that you would expect to find in a normal online casino, as well as a full poker room and sportsbook. At this time they also accept deposit (and instant withdrawal) via BTC, BNB, TRX, USDT,  and several other top crypto coins. 

By using smart-contracts, the latest in blockchain technology, online casinos are now able to deliver online gaming that's fast, fun, and provably fair by providing a permanent, distributed, and decentralized ledger that anyone can access for a detailed, and public record of transactions. Enforcing the instant payout of winnings, and game fairness, while eliminating many of the complaints that where once associated with online gambling.

In Summary - Life Made Easier

Going back to where we started it’s important to keep in mind that people gamble because they want to have fun, and be entertained.

A major improvement on the payment methods, which have become nearly instant and basically without fees, along with verifiable game fairness, will certainly contribute and allow the player to focus on playing, and less on the worrisome questions that many have had in the past.

It’s with no surprise that it’s easy to anticipate a big change on the online gambling industry. A change possibly as big as the one that lead to the creation of online gambling, back when only brick and mortar casinos existed, as the blockchain and smart-contracts take gambling to the next level.

The next level of simplicity, entertainment, and fairness. But also in terms of access to markets previously unreachable, or simply giving access to the millions of unbanked users that can now interact using cryptocurrencies.