Poll results: Blockchain casinos destined to remain a niche product
Respondents to this week’s poll unconvinced by concepts like Funfair.io
Blockchain casinos are destined to remain a niche product for the foreseeable future, according to a slim majority of voters on this week’s poll.
A little over 56% of respondents said the concept wouldn’t hit the mainstream, with concerns centring on the regulation of anonymous cryptocurrencies like Bitcoin, and whether customers would ever be willing to transfer their cash into such a format.
That said, approximately 44% of voters could see a future for the concept, with proponents suggesting it is simply fairer than traditional online casinos.
A decentralised RNG, for instance, allows all parties to track wins and losses, including affiliates who are no longer in the dark about what they are owed.
Likewise, player funds are kept in their own wallets rather than the site’s, ensuring funds are safe should a firm go under.
The unique wallet process also means deposits and withdrawals happen in minutes rather than an industry standard of two to three days.
Indeed Jez San’s new blockchain casino FunFair.io raised $26m in around four hours last week with investment from major institutions and a second, larger raise planned for later this year, suggesting there is an appetite for this type of platform among investors.