JustBet Casino Review – Bitgamble
JustBet is a web3 casino that allows you to place bets directly from your wallet without engaging in any type of KYC verification, signing up is as simple as connecting your web3 wallet. It is a peer-to-peer gambling platform that enables anyone to become the house by providing liquidity and earn a share of the casino’s profits in return.
JustBet casino offers an innovative decentralized platform that only lists casino games that are all provably fair.
JustBet casino uses the $WINR token as its native currency which is a yield-bearing token that can be staked to earn rewards or mint NFTs, but they support multiple other cryptocurrencies that can be used to play such as wBTC, wETH, DAI.
The platform has been designed to be both aesthetically pleasing and functional, it uses a dark theme with a clean and organized layout that makes it easy to navigate, it is currently accessible by desktop and should be available on mobile in the meantime.
JustBet Casino Games & Features
JustBet casino is currently in its beta stage, operating on a test-net and featuring a limited game selection. However, the platform hosts exclusive, provably fair games such as Coin Flip, Range, Rock Paper Scissors, Plinko, Moon, Lottery, Dice, Slots, and Wheel. Additional titles such as Poker, Roulette, Blackjack, Video Poker, and Mines are also in the works…
To provide users with greater control over their bets, JustBet offers customization options such as multiple betting, stop gain, and stop loss.
A decentralized casino is great in theory but in practice the user experience could be annoying due to the need for wallet confirmations for every action. To address this issue, JustBet has integrated One Click Betting (OCB), a mechanism that eliminates the need for users to interact with their wallet each time they place a bet, significantly reducing the time required to complete transactions.
As a newly introduced decentralized casino that is still in Beta, JustBet casino does not currently have any deposit bonuses, or weekly rewards to its players.
However, players have the opportunity to earn cashback in coins every time they place a bet on the platform. Additionally, they can earn casino revenue by providing liquidity, stake $WINR/vWINR for rewards, mint NFTs and get access to exclusive bonuses and perks, or participate in the Jackpot feature.
Players can earn additional rewards by staking their $WINR or $vWINR (coin that you get when placing when bets, can be converted to $WINR), rewards are in the form of $WLP
- LP Provider (Become the House)
Liquidity providers are the backbone of JustBet. Each transaction occurs between a liquidity vault and the player, with no middleman or provider involved. All transactions take place on immutable smart contracts on the blockchain. In return liquidity providers are rewarded generously. You can deposit $DAI, $wETH, and $wBTC and receive an index token called $WLP.
- Liquidity providers are entitled to vWINR emissions.
- The price of WLP appreciates as the gamblers lose.
- WLP holders are distributed additional WLP collected through the fees.
- NFTs Reward
JustBet rewards players with NFTs during promotions and competitions on the platform. Additionally, players might receive NFT rewards based on their achievements on the platform. You can also mint NFTs with $WINR from your profile page (Coming Soon).
NFTs come in different forms, such as minting boosters that come in various rarities and provide a boost to your $vWINR earnings. You will also find loot boxes, scratch cards, and badges, with each having their own perks
- Jackpot Reward
The jackpot reward is split into two. Players who achieve the highest volume of bets in the weekly leader board competitions will share half the jackpot reward while the other half is rewarded with a random bet.
JustBet Casino Analysis
JustBet is an innovative decentralized casino that rebranded in 2023. It is developed by $WINR Labs and operates in a trustless environment where there are no centralized owners. JustBet is just an interface to a set of smart contracts, similar to Uniswap but for the gambling industry. Transactions take place solely between the liquidity pool and the player, with no middlemen involved, and all operations occur on immutable smart contracts on-chain.
JustBet hosts a multitude of interesting features such as allowing the player to become the house by providing liquidity, earning passive income by staking $WINR and $vWINR and much more, which reflects the essence of Web3, where the power is given to the user instead of a centralized entity.
There are no KYC verifications or requirements of any kind, making it a fantastic option for those who wish to gamble anonymously. The implementation of OCB (One-Click-Betting) is well thought! as the experience would have been ruined if the user has to manually confirm on their web3 wallet each action that they make. Additionally, the ability to customize bets is another feature that adds value to the user. We are excited to see how NFTs will be integrated, as NFT utilities in crypto casinos are expected to grow bigger.
JustBet is currently in beta, and we are excited to monitor its progress. As there is currently no leading decentralized casino, we hope that JustBet will become the first to establish itself in the world of GambleFi.
Due to its reliance on liquidity providers and not on House capital, it is uncertain whether JustBet will be suitable for high rollers, as large bets would depend on the amount of liquidity in the vaults. Additionally, since it operates solely on smart contracts, there is no possibility of the house allowing someone to bet more than it can payout, Smart contracts prevent this from occurring, which is a good feature to prevent liquidity overflow.
To start betting on JustBet, you are required to have a web3 wallet and add Arbitrum in your networks — Once setup you can easily connect and start betting on JustBet. Unlike other casinos, you can simultaneously bet and swap coins on JustBet. For example, you can place a bet with wETH to win DAI. However, it is crucial to keep enough ETH in your wallet to cover gas fees.
You can still join their public sale which is held on the 11th of March, if there are remaining $WINR from the previous stage that is reserved to WL holders.