Poker is a game with a history of more than a century which has seen a massive resurgence in the digital age. Millions of players from all over the world are sitting around virtual tables playing virtual pots, not to mention those playing poker as a sport – Match Poker, that is.
The online poker industry is massive, estimated to grow by billion each year until the decade’s end. And while the game remains its traditional self, the platforms on which the games themselves are played are continuously evolving, making online poker games more accessible, more secure, and more reliable with each iteration.
The latest innovation embraced by the world of poker is blockchain. Aside from the obvious benefit – making transactions cheaper, faster, and more reliable – it also has the potential to make playing online poker a much safer and more secure experience.
Is blockchain-based online poker better?
The answer to this question depends on which part of a “traditional” and blockchain-based online poker outlet you compare. The game itself is the same – then again, it is just an interface that translates the data transfer in the background into checks, calls and raises.
The advantages of blockchain-based poker are more of the “under the hood” type.
Access
Except for the jurisdictions where it’s explicitly banned, cryptocurrency can be used pretty much everywhere in the world. This eliminates one of the obstacles poker players have at fiat outlets: certain payment methods are simply not available, and this sometimes makes operators simply avoid offering their services in certain territories.
A blockchain-based poker outlet with a crypto-based payment system simply doesn’t have this limitation, making it available for everyone.
Speed and cost
Usually, the iGaming industry relies on two types of payment methods: bank-based ones like cards and bank transfers, and digital wallets. The former type is relatively cheap but slow, while the latter is instant but pretty expensive.
Crypto payments in poker have the best of both worlds, so to say: the transfers are processed instantly, and the cost is minimal, making it the most advantageous payment method for players.
Safety and Security
Finally, let’s not forget about what makes blockchain the technology of the future: its safety and security. The very fact that every single transaction is stored in a distributed ledger, provides an effective system to verify every transaction, thus preventing fraud.
Is blockchain poker the future?
As blockchain begins to be used in more and more online services and gains wide acceptance – and recognition, crypto poker will most likely also spread at least as fast as its fiat counterpart. There are already dozens of crypto poker brands out there, with more emerging as we speak.
Sooner rather than later, the biggest names in the poker game industry will also embrace cryptocurrency in one way or another, making it as widely available as bank card payments are today.
DISCLAIMER
This article is for informational purpose and may contain links to external websites which we have no control over. Users are advised to make proper research before making any financial decisions.
About Author
- I am a content writer with over 5 years of experience in content writing. I created well researched content related to finance, cryptocurrency, stocks and metaverse. My skillset allows me to produce high-quality content that is engaging and informative. I am excited to continue providing valuable information to my readers.
Latest entries
- Personal FinanceApril 20, 2024How Fintech Is Transforming Personal Finance in Canada
- CryptocurrencyApril 20, 2024Crypto-Curious? A Beginner’s Guide to Cryptocurrency Investments and Risks
- Personal FinanceMarch 6, 2024Building a Strong Financial Foundation: Steps to Take in Your 20s and 30s
- CryptocurrencyMarch 6, 2024The Rise of Cryptocurrency Ransomware: Strategies for Retrieval and Prevention
