Blockchain Turning the Gambling Industry Upside Down

Apr 21, 2018 at 10:35 // News
Guest Author
Blockchain to transform gambling industry

The Gamblica platform will be offering wide range of gambling activities: roulette and slot machines, poker room, sports betting – all running on completely transparent and secure smart contract system.

The online gambling market is growing approximately 9% per year. If you want numbers, it's about $5bn annually. For a market that big, the quality of services provided is surprisingly low.

The industry is facing several critical problems, which hinder the development of the market. One of them is fraudulent behavior by some operators, undermining the credibility of the entire market. Each time one plays at an online casino, they have that lingering murky feeling called "my slot machine might be rigged". And often it really is the case: players do get cheated. Another problem worth mentioning is the risk of having one's account blocked after they win a jackpot and want to withdraw their prize money.

So, what if there was a decentralized and provably fair gambling platform, where the operator has no access to the user’s account and every game’s history can be verified at any time? That would be lovely: putting the player in charge. That’s exactly why a team of aspirational managers and developers, who happened to love gambling and have 15+ years experience in the industry, decided to build Gamblica.

Gamblica offers a blockchain-based online gambling platform designed to solve the industry’s problems related to fraud, high fees, and personal data protection.

The Gamblica team believes blockchain to be one of their biggest advantages. It gives them an unprecedented access to worldwide markets and allows lightning fast, frictionless, and hack-proof transactions. And the best part — no one can cheat. It is physically impossible to defraud players when using distributed ledger technology. Nice touch — Gamblica’s White Paper is translated into 9 languages.

The reason why most fair blockchain casinos fail is that they try to target dodgy casino operators, who are not interested in losing profits. Gamblica aims at designing a product for the end user, and that makes a real difference.

As it often happens, one of the best things about Gamblica is buried deep in smart contracts and arcane cryptographic theories. No one, literally not one person, can compromise the game's outcome. Gamblica’s unique RNG requires several parameters to generate a random number. Each of those parameters is independent of others; some are generated by Ethereum blockchain. When they all come together in the project’s RSA PRNG algorithm, the game's security becomes virtually impenetrable.

The only way to access the platform and purchase our services is Gamblica’s utility token — GMBC. The rest is simple: the platform grows, so does GMBC.

If you feel that’s exactly what you were looking for, the one thing you may want to know is their bonus schedule. Gamblica had been offering a 50% bonus during the first stage of the token sale: now contributors still have a chance to get GMBCs with a 32% bonus. The bonus, however, gradually decreases and will hit 0% in the last stage of the crowdsale. So, the earlier you participate, the bigger bonus you get.

What you need to participate is create your personal account on Gamblica’s website and go through the KYC procedure. It’s neither scary nor difficult; the team has even prepared a step by step guide on how to buy GMBCs.

One can purchase GBMC tokens by transferring BTC/ETH directly to their personal account. All bonuses will be awarded automatically. After the token sale, GMBCs can be transferred to the participant’s external ERC-20 compatible Ethereum wallet.

Disclaimer. This article is paid and provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. CoinIdol shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services mentioned in this article.

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