How One Player Won 1.79 BTC from a Blockchain Casino, and Why Dapps Can’t Compete

27 Feb 2020

The rise of decentralized applications has been notable. One of the very first use cases of decentralized applications were gambling dApps. These let players gamble on specific games based on blockchain randomizers.

In theory, this means players can go on the Ethereum, TRON or EOS blockchain to look into the code of the smart contract behind their decentralized gambling application, to verify whether they’re getting a fair result or not. The experience beats that of a classic casino, where honesty and transparency may be lacking.

Decentralized gambling applications use smart contracts to determine how their games work and who wins. This means that while the necessary transparency is there, the excitement associated with gambling in a casino isn’t: the games offered on these platforms can often be dull and unattractive to those trying to spend quality time gambling.

As a result, the user experience is often less-than-stellar. Adding to that, these dApps don’t offer basic promotional bonuses to players, significantly limiting their bankroll and potential to earn on the platform.

Bonus Packages Matter

If you’ve ever played on an online casino, you know it’s common for these platforms to offer basic promotional bonuses. These bonuses can be free spins, deposit bonuses, or cashback.

For example, a Fairspin player deposited $410 in BTC but lost everything. Happily for him, he got a 100% deposit bonus and continued to play. Next thing we know, a single $50 bet in the “Book of Gold” game brought a winning of $17,549. A lucky player withdrew 1,79 BTC the next day, which can be proved with a relevant transaction in a blockchain network.

As transactions are recorded on an immutable ledger, the withdrawal can easily be verified and if any dispute were to arise, there’s irrefutable evidence there to solve it. Fairspin is a perfect example of a blockchain-based casino offering its players classic games and bonus packages, bringing in the best of both worlds.

Fairspin lets users play well-known slots, roulettes, and poker games while enjoying generous bonus packages. It has its own Ethereum smart contracts that can be audited by its users, while all transactions are disclosed and can be easily verified via an Ethereum blockchain explorer.

Fairspin Players Won Over 55,500 ETH

Fairspin was created in late 2018, and during the course of 2019 it awarded its players over 46,500 ETH ($12.5 million at press time) with the biggest win in a single bet being of 54 ether. As of now, the number reached to 55,500 ETH and keeps growing. Most importantly, the platform shows the current percentage of winnings in every game it offers

The casino was nominated in the Rising Star category for the prestigious EGR Operator Awards and SBC Awards. Along with its partners Trueplay and eGaming Curaçao, Fairspin runs a provably fair gambling platform that guarantees full transparency and doesn’t allow for gaming data to be altered in any way.

Players can easily verify the platform’s house edge and the balance held in its wallets, where the prizes come from. Fairspin is available in various languages, including English, Spanish, Portuguese, German, Russian, and Japanese. Players can deposit funds using fiat currencies or top coins (bitcoin, ether, USDT, etc.).

The deposits are converted into its native TPLAY token. The platform offers players responsible gaming measures and a cashback bonus for those being hit by bad luck. It is currently over 600 games on its platform.

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