Blockchain technology is revolutionizing different industries worldwide, and the gambling sector is no exception. Since the first cryptocurrency, Bitcoin, was launched more than ten years ago by Satoshi Nakamoto, modern blockchain networks have been developed to overcome the shortcomings of the Bitcoin protocol. For instance, smart contract platforms such as Ethereum were created to allow developers to build decentralized applications (DApps) that solve real-world problems.
- What Are Decentralized Applications (DApps)?
- Crypto Gambling DApp Explained: How Does it Work?
- Pros and Cons of Using Dapps for Gambling
- How to Get Started with Gambling DApps
- Best DApps Casino List: Top 10 Gambling DApps 2022
What Are Decentralized Applications (DApps)?
Decentralized applications, or DApps for short, are applications that run on a blockchain. DApps are similar to traditional apps (apps built on centralized networks). However, DApps offer more features and freedom because they operate on decentralized, open-source networks. These applications are executed through smart contracts, requiring a cryptographic token (crypto) to function.
The concept was first introduced by Ethereum’s founder Vitalik Buterin and his colleagues in 2013. Today, Ethereum is the leading platform for DApps, even though many other blockchain platforms have smart contract capabilities.
Although DApps are mostly used in personal finance, the concept has gone beyond financial services. Today, DApps are utilized in property registers, social media, portable personal records, voting, digital rights, digital collectibles (NFTs), gambling, and anything you can imagine.
Crypto Gambling DApp Explained: How Does it Work?
Using DApp for gambling is fast becoming popular among modern players. This is because of the many benefits they derive from DApps compared to online crypto casinos. But what is the difference between DApps and online casino websites?
DApps Vs. Online Casinos
Since decentralized applications are programs built on a blockchain, crypto gambling DApps are blockchain-based betting platforms. On the other hand, online crypto casinos are built on centralized servers.
Each decentralized application has backend codes known as smart contracts. A smart contract is a set of rules stored and distributed on a blockchain for all to see and communicate with. Once the smart contract has been deployed on a chain, no central authority can force it to change. Interestingly, as a user, you only need a non-custodial crypto wallet to interact with a decentralized application.
Blockchain casinos are built the same way, meaning game outcomes cannot be manipulated, unlike crypto casinos controlled by a central authority. In other words, casino DApps are 100% trustless and accessible with just a crypto wallet. This means that players don’t have to worry about sharing personal data, transparency, and game outcome manipulation.
Pros and Cons of Using Dapps for Gambling
Trustless/Transparency Games in DApp casinos are provably fair, meaning you can verify the game outcome using a third-party platform. This is because gambling DApps are designed with smart contracts that guarantee the set rules can never be changed, thus eliminating the need for trust.
Decentralized A decentralized application is a program that runs on a blockchain, keeping permanent track of the state of all network participants. In DApp casinos, users vote on decisions affecting the platform through a concept known as blockchain governance. Blockchain governance is a system designed to manage and implement changes to a blockchain platform. As such, no one has the authority to make independent changes to the backend code of any blockchain casino.
Fast Payouts Cryptocurrency is the default payment method for DApp casinos, meaning withdrawals are processed through crypto. Hence, this automatically means faster transactions than regular online casinos that accept bank transfers and other traditional payment methods. Interestingly, blockchain casinos generally do not require you to deposit funds. Instead, you need to fund your crypto wallet, connect it to the DApp, and start betting.
No Restrictions Since DApp casinos are built on decentralized networks, anyone can use them without restrictions. You can also use VPNs to access blockchain casinos. The same cannot be said for regular gambling websites that prohibit users from some countries.
Enhanced Privacy DApp casinos provide enhanced privacy because they don’t require KYC. As mentioned earlier, a funded non-custodial crypto wallet is all you need to start using a blockchain-based casino. Crypto wallets are pseudonymous and do not require your personal information. This means you can wager on your favorite games without worrying about your identity getting leaked.
Transactions are Irreversible Blockchain transactions are impossible to reverse. Once a smart contract has been signed, it is validated and permanently added to the blockchain, which becomes a problem when mistakes are made. Sending crypto to the wrong wallet address can lead to a permanent loss of funds.
Crypto is Volatile You need to have some funds in crypto before you can use a DApp casino. And since the crypto market is very volatile, you can make or lose money as prices fluctuate. It isn’t uncommon to see a token gain over 50% or plummet to zero within minutes.
Complex Interface Some decentralized applications have complex user interfaces, unlike traditional apps. This makes it difficult for non-tech-savvy people to appreciate DApps fully. Nonetheless, modern DApp casinos are taking user experience into consideration and constantly looking for ways to improve their UI/UX.
Regulations Unlike regular crypto casinos, most DApps are not regulated by the government. This makes it difficult to take legal action against the team behind the platform.
How to Get Started with Gambling DApps
There are some things you must consider before getting started with gambling DApps. Let’s go through them in this section:
Select a Blockchain for Your DApp Casino
The first step in getting started with DApp gambling is selecting your preferred blockchain. As mentioned earlier, there are multiple blockchains for decentralized applications. However, not all blockchains are built the same - some are faster and cheaper than others.
For instance, the Ethereum blockchain remains the undefeated champion for decentralized applications, but the network fee is quite expensive compared to blockchain platforms. Because of this, networks such as BNB Chain, TRON, and ThunderCore are more preferred for DApp gambling.
If you’re unsure which blockchain network to use, you can explore multiple options and decide later. Interestingly, some gambling DApps are interoperable, supporting different blockchains.
Find the Right DApp Casino
Once you have picked one or two blockchain networks, the next step is finding the right DApp casino to use. This article lists the ten (10) best gambling DApps for 2022, so feel free to make your pick.
Install a Non-Custodial Crypto Wallet
Crypto wallets are your gateway to DApp casinos. Before choosing a wallet for your blockchain betting, check the interface options of the wallet. In other words, check if the crypto wallet is available on mobile, desktop, and browser extensions. It’s best to use a wallet that supports multiple interfaces. This allows you to access DApp betting platforms from different devices.
Keep in mind that not all crypto wallets allow you to connect to the world of decentralized applications. In addition, some wallets that offer DApp browsers only support selected blockchains. Some of the best wallets for DApp gambling are MetaMask, Coinbase Wallet, Trust Wallet, Phantom, and ENJIN.
Best DApps Casino List: Top 10 Gambling DApps 2022
Some crypto betting platforms claim they are DApp casinos, even though they are not. So how do you identify a blockchain casino?
DApp casinos must meet the following criteria:
- A DApp casino must be open-source, user-controlled, with no third-party intervention
- It must be decentralized, with all data stored on a public blockchain
- It must require a cryptographic token to function
- A DApp casino must have provably fair games
- A blockchain casino must support web3 wallets.
With that said, here are the top 10 gambling DApps in 2022.
Dicether is a leading DApp gambling platform on the Ethereum network. The blockchain betting app allows users to play dice, wheel, keno, and other games using cryptocurrencies. All the games on Dicether are provably fair, so you can always verify the outcome of the games. You can also converse with other players using the chat feature.
Dicether does not require users’ email, passwords, or other personal information. You can start playing by connecting your crypto wallet.
Degen was launched in 2017, making it one of the oldest gambling DApp on the internet. The platform was initially called SportCrypt before rebranding to Degens. As a casino DApp, players can bet on games without geographical or KYC restrictions.
Sx.Bets is the largest Polygon-based sports betting DApp by user and transaction volume. Earlier this year, the casino recorded 1,000,000 unique bets worth $170 million.
Players can bet on over 20 different sports across the major leagues using USDC and ETH. The casino offers lucrative bonuses, including a welcome bonus of up to $1000. Sx.Bets also hosts weekly tournaments with prize pools of up to $50,000.
Bapbet is a popular cross-chain betting DApp. The platform supports TRX, USDT, EOS, BTC, ETH, and other crypto assets. Users can play games such as Lucky777, Blackjack, Bullfights, and Texas Holdem. Interestingly, about 70% of the casino’s profits are redistributed to users who hold BAP, the native cryptocurrency of the Bapbet DApp casino.
BetSwirl is a blockchain-based gaming platform that promises fair play and a fun experience for all users. Its storytelling, public interaction, and user-friendly design make it one of the best community-driven casinos on Polygon.
PRDT.finance is a decentralized, cross-chain prediction platform based on BNB Chain. Unlike other DApp casinos, PRDT rewards users for predicting the prices of crypto assets. In other words, users bet on crypto prices instead of betting on casino games like BlackJack. Predictions on PRDT are conducted in a decentralized method through different APIs such as Chainlink oracle, Binance, and Kucoin. The DApp has been audited by leading smart contract auditing firm Certik.
Wink is another DApp casino built on the TRON blockchain. The platform combines gaming and blockchain expertise to eliminate user registrations, unfavorable house edges, and poor user experience.
Wink is a trustless, permissionless, and high-performance DApp casino with an extensive collection of games. You can bet on sports events, casino games, and live dealers.
Sportbet.one is a gambling DApp designed for sports fans. The sportsbook is built on the EOS blockchain and does not require users to sign up, verify their identity, or deposit funds.
With Sportbet.one, players can enjoy anonymous betting, transparency, and instant payouts. In addition, users can earn passive income by staking SBET, the platform’s native cryptocurrency.
OwlDAO is a multi-chain decentralized autonomous organization (DAO) launched in 2021. Since then, the platform has become one of the best DApp casinos on the internet. OwlDAO combines over 30 of the world’s leading game providers into a blockchain-based engine. You can access thousands of sports events and casino games by simply connecting your wallet.
Aside from providing games to users, OwlDAO provides tools for other projects to build their casinos on the blockchain.
The team behind OwlDAO designed TTCasino. The gambling DApp is built on the Thundercore network, with over 3,000 games available to users. The platform also supports sporting events, and players can create tournaments using the PVP poker feature.