Bitcoin gambling presents gamers with a number of unique attractions. Among those benefits is a movement known as provably fair games.
All regulated online casinos are required to submit to a stringent series of checks and balances in order to game and then maintain their gambling licenses. While gamers can rest assured that the games they play are likely fair, there is no real verification to ensure that.
The concept known as provably fair is one that could revolutionize the industry as a whole. What exactly is it and how does it work?
Online casinos that declare their games to be provably fair use cryptographic technology, thus allowing customers to verify that each bet that is placed is provably fair. bitZino is believed to be the first bitcoin casino to put the system into place in 2012. Forbes reports that bitZino officially launched in June 2012 with a Provably Fair button that allowed gamers to immediately and independently verify a shuffle's authenticity. One of the most unique aspects about bitZino's radically new approach is that not only did they claim that their games were fair, they invited players to verify it and provided the means for doing so.
Due to the fact that members of the bitcoin community tend to be well versed in the idea of cryptography, their practical understanding of the provably fair system is increased, Forbes.com noted. Consequently, this type of system eliminates the need for a third-party verification authority, such as eCommerce and Online Gaming Regulation and Assurance or Association of Players, Casinos, and Webmasters. As a result of the difficulties sometimes associated with licensing bitcoin-only casinos, the concept of provably fair gaming has replaced many of the more traditional methods for verification. Since it was first introduced by bitZino in 2012, provably fair gaming has come to be used by almost all bitcoin casinos.
Through the use of cryptographic technology, bitcoin casino customers are able to confirm that the hash presented to them by the casino is valid and random. Hashes are strings that are comprised of a series of alphanumeric characters.
The goal of this method is to ensure that neither the casino nor the player have any control regarding the outcome of a wager. Cryptographic technology has functions to make it virtually impossible for the original data from the hash to be derived or for two data strings containing the same hash to be identified. These hashes are vital to proving the fairness of bitcoin casino games.
No single algorithm or formula exists for provable fairness. Results for different types of games, such as slots, cards, or table games, are calculated in different manners. Each bitcoin casino may also utilize its own unique method for determining results. Regardless, all methods are based on decks of cards. This is true for slots as well as roulette games. In some instances, it is possible for players to cut the deck that is being used by simply changing the seed based on a specific hash.
Provably fair poker is also possible using a cryptographic technology known as mental poker. Using this approach, mental poker is a type of theoretical casino game that makes it possible for gamers to play games of poker long distance. Through this method, cards can be dealt to players in a way so that none of the players or the operator is able to see one another's cards.
As the concept of provably fair games has become more popular, an increasing number of Bitcoin casinos have opted to prove that their games actually are provably fair. Methods may vary among casinos, but they typically involve allowing customers to verify that the wagers were provably fair after they have actually concluded. A provably fair verifier box is typically located on almost all bitcoin casinos. By simply entering the client seed and the server seed, gamers can verify each individual bet.
By offering a fast and effective way for gamers to verify that they are not being cheated, provably fair has rapidly grown in popularity. To date, a vast majority of bitcoin casinos have adopted the provably fair approach, although there are still some stragglers that have opted not to participate.
Gamers considering the use of provably fair casinos may find it helpful to seek out the site's explanation of provably fairness. It is also a good idea to determine how results for that particular bitcoin casino are calculated. As a new approach that has not been previously available, provably fair bitcoin games, offer gamers the unique opportunity to ensure that they are not being cheated while verifying the honesty of a gaming site.
As bitcoins continue to grow in popularity and become more accepted in mainstream use, provably fair bitcoin casino games are likely to become more important to the industry.