Best GambleFi Platforms 2023
GambleFi platforms combine the powers of blockchain, Web3, and decentralization to transform the way users interact with gambling sites. In this article, we explore the unique features of GambleFi by exploring what sets them apart from traditional gambling sites and list the best gamblefi platforms of 2023
Best GambleFi Platforms 2023 | What are the Unique Features of GambleFi?
Decentralized casinos, or GambleFi platforms, eliminate the need for intermediaries, ensuring direct interaction between users and the platform from their web3 wallet allowing users to maintain full control over their assets, minimizing the risk of casino mismanagement. Authentication in GambleFi platforms relies on public addresses tied to users’ Web3 wallets, offering a more secure and private method than traditional username/password authentication.
Another key advantage of GambleFi platforms is their accessibility. These platforms remove geographical and country restrictions, enabling anyone with a compatible wallet and internet connection to participate in the gaming experience, regardless of their location. This inclusivity empowers players worldwide to enjoy a seamless gaming experience free from the limitations imposed by traditional casinos, which often face licensing and operational constraints.
GambleFi platforms also eliminate the need for Know Your Customer (KYC) procedures and other time-consuming verification processes. This enables users to enjoy a frictionless and privacy-focused gaming experience without the hassle of providing extensive personal information.
Provably fair games are another standout feature of GambleFi platforms. These games use cryptographic algorithms to ensure randomness and transparency, enabling both the casino and the player to independently verify the game’s fairness without relying on third-party audits. This level of trust and security is crucial for maintaining a fair gaming environment, highly valued by players who want to ensure they’re not being cheated.
Decentralized casinos also offer an innovative approach to revenue sharing, allowing players to invest in and own a portion of the casino’s native tokens. As token holders, users can share in the platform’s profits and earn passive income through profit-sharing mechanisms. This unprecedented level of player engagement democratizes the online gambling landscape and fosters a thriving ecosystem where players actively promote and support the growth of decentralized casinos.
What are the best GambleFi Projects of 2023?
ZKasino
ZKasino is a fully decentralized On-Chain Casino that leverages ZK-Rollups technology, a Layer 2 scaling solution on Ethereum that allows for unlimited scalability while maintaining optimal decentralization and security. The platform embraces a trustless, no-KYC approach and offers a low house edge. ZKasino ensures transparent winning probabilities using Chainlink’s VRF (Verifiable Random Functions), enabling result verification directly within the smart contract. This guarantees that every spin is entirely fair and random, providing players with a trustworthy gaming experience. Authentication is directly via your Web3 Wallet, and so far the games that are offered are Dice, Plinko, Video Poker, Slots, Mines, Rock Paper Scissors and Coin Flip, with many more to be added.
ZKasino is growing at an exponential rate, with total wagers reaching 150,000,000$+
BlockchainBets
Initially a memecoin, Blockchain Bets has evolved into a comprehensive decentralized gaming platform offering sports betting and online casino experiences, Their goal is to become the largest decentralized, cross-chain compatible, KYC-free betting platform that is accessible worldwide without any geographical restrictions..
Fully web3 compatible, the platform enables direct authentication and interaction through users’ wallets, with instant payouts upon request, eliminating middleman intervention. They offer distinctive features such as allowing users to become part-owners through staking its token, the platform also guarantees maximum transparency and security for their users.
JustBet
JustBet, a web3 casino, allows users to place bets directly from their wallet without KYC verification. As a peer-to-peer gambling platform, it offers provably fair games and enables users to become the house by providing liquidity. The platform uses $WINR as its native currency and supports multiple cryptocurrencies. JustBet is currently in beta and features games like Coin Flip, Range, Rock Paper Scissors, and more. Notable features include One Click Betting (OCB), which streamlines the betting process, and customizable bets. JustBet operates without centralized owners, solely relying on smart contracts for transactions. While suitable for anonymous gambling, its ability to accommodate high rollers depends on liquidity in the vaults.
Earnbet
Earnbet.io is the first-ever ‘semi’ decentralized casino and the original pioneer in the GambleFi space. Although small in size, this decentralized casino offers a limited but engaging selection of provably fair games, such as Dice, BlackJack, Baccarat, Crash, Hi-Lo and Jackpot. It is not web3 compatible, in the sense that you do not authenticate yourself with your wallet but instead you get access to a recovery phrase that controls the full ownership of your account. Withdrawals require manual approval which is a bit of a turn-off.
You earn $BET Tokens every time you place a bet, in which you can stake and get a reduced house edge and part of the casino profit distributed to stakers.
DO NOT LOSE YOUR RECOVERY SEED PHRASE
