Transparency has always been one of the major concerns of players who gamble online, especially now that there’s an estimated 1.4 million fake websites created every month, according to a recent SuperData Research study.
Most players rely on other peoples’ reviews of online gambling websites to determine the reliability of a platform. However, reviews on websites can be exaggerated and, most of the time, reek of bias.
To address the issue on transparency, many gambling operators are now trying to harness blockchain and integrate it into their products. Blockchain, the technology underpinning cryptocurrency, provides the transparency that both operators and players are seeking.
“We think it provides an interesting technology to provide a layer of transparency to the player. All of our results are encrypted in blockchain and then, as a player plays blockchain baccarat, the results are revealed in blockchain,” Ebet.com CEO Evan Spytma told CalvinAyre.com.
Founded in 2012, Ebet.com provides the online gambling industry with the latest games including Sic-bo, Dragon Tiger, baccarat, roulette, and blockchain baccarat. Blockchain Baccarat allows players to place bets anytime, anywhere, and play over 5,000 hands at any time. In creating the product, Spytma considered the fact that many players tend to sit and wait for a trend to develop while playing baccarat.
“As an operator, that’s time wasted. What we’ve thought is we can actually have a player bet on any one of over 5,000 hands at any time. They can analyze over 100 hundred tables and then place their bets on any hand and they would be the only player to place a bet on that hand,” Spytma said. “We’ve had a huge amount of interest in the product. People are asking for exclusives already. We already know that the demand is high for it and we’re really happy about that.”