Companies in the gambling industry are starting to realize the benefits of Bitcoin SV for deposits and withdrawals. Still, payments are just scratching the potential of all that Bitcoin SV can do for the iGaming industry.
Content providers are starting to build their slots on the BSV blockchain. In an always competitive yet shrinking number of providers, building slots on the blockchain could be the difference-maker for new and existing providers looking to crack the market.
Here are seven reasons why slots providers should build their titles on the Bitcoin SV.
Provably fair gaming
The term provably fair gaming has been floating around for 7 or 8 years now, and we further explain it here, but in short, it creates improves trust between the operator and the player by removing the need to trust each other.
Putting the game transaction data onchain, where both sides have access to the results of the game, players are less likely to complain about the fairness of the games when they can see the data rather than their memory of their most recent bad run.
Increase trust and visibility will result in stronger loyalty between the players and your titles.
We like to make a lot of money with our titles, but saving time and money is also very good for your company’s bottom line.
The gaming data has an audit trail recorded on the BSV blockchain. It reduces the financial burden of meeting strict regulatory compliance since all the data recorded is immutable and public. As mentioned here, even though the data is public, it remains hidden in plain sight. It can be shared directly with regulators or other third parties at your discretion.
Scripting games as transactions on Bitcoin SV means that these games can be replayed independently -by a third party or the players- for vetting. Putting these game events on-chain through the distributed model is more cost-effective than storing everything in a centralized client-server model with your company or with the slots operators offering your titles.
Building slots onchain with Bitcoin SV will allow content providers to use smart contracts to handle cross operator progressive jackpots or contests.
The smart contract will handle the collection of entries, and the jackpots’ payment or contest wins across your networks of games without the need for human intervention. The auditable trail will ensure no player or operator gamed the system.
Cryptographic security underlying the Bitcoin SV platform means we can safely transact bets without fear of theft or loss of privacy due to the pseudonymous nature of transactions.
Bitcoin SV is the only public blockchain that can provably scale and currently can accommodate millions of transactions per second. It allows game developers to create more complex game logic to provide a more entertaining gaming experience.
The Immutable gameplay data generated and stored on the BSV blockchain is invaluable data for operators to analyze player behaviours and betting patterns which will allow you to improve player experience and offer better marketing solutions.
Low transaction fees of Bitcoin SV mean that players can enjoy games with the added benefits listed above. Providers can enjoy the cost savings per transaction over other technologies that are slower and larger multiples more expensive to transact.
If you want to learn more about building game titles on Bitcoin SV, please consult our Bitcoin SV resource directory.