The precise origin of gambling is unknown, but games of chance are historically evident in many societies. The first famous European gambling house was Ridotto, established in Venice in 1638. In American history, early gambling establishments were known as saloons, where like minded people could gather for drinks and cards. Today, entire cities have dedicated their existence to people wanting to try their luck against the house. Especially popular today is the online casino market.
Within this market is the online casino and gambling market, a fast growing sector. According to Statista, an online statistics portal, the sector was worth US $24.73b in 2009, and is predicted to exceed US$56b by 2018. Due to the rapid growth of the Internet community and the expansion of infrastructure, online casinos have gained a fairly large market share. However, this industry faces two main problems: honesty and confidentiality. Since many online casinos do not provide full transparency to their customers, the lack of transparency creates a barrier between service providers and players. In addition, online casinos of the “traditional style” require players to register an account and confirm their identity, and use either their credit cards, bank accounts, or other payment services to make transactions in currencies.
Because of the above-mentioned problems, B2B and B2C can remain only a story, and they will be replaced by the blockchain, the only question is when and how this will happen. B2B and B2C are ripe for innovation, such as the use of smart contracts based on blockchain. The uniqueness of smart contracts is that they automatically perform the bulk of the company’s business process: the contract itself takes care of purchase orders; it knows the precise number of units required, at what time, and where; the blockchain-based smart contract guarantees the best conditions and the maximum return from the game process for the user.
Solutions like these, which do away with multiple intermediaries — financial intermediaries, internal approvers, purchasing agents, goods-verifiers and so on — provide a result that can not be achieved in a traditional casino — the absence of third parties, faster gameplay with full transparency at each stage of the transaction, as well as its provably fair. Players can check how random numbers are generated, compare past results, how much and at what rate a particular user received. In addition, taking advantage of the Ethereum network can significantly reduce the cost of each game.
The innovative project SmartPlay.Tech brings online casino to a new level by introducing blockchain technology and taking advantage of Ethereum smart contracts, thus ensuring transparency of transactions, sustainable fairness of the game, and complete confidentiality for the player. A unique feature of the B2C solution is the payment of loyalty rewards to each player who keeps a certain number of RouletteToken (RLT) tokens on the personal ethereum wallet, so each player becomes a partner of the casino and owns its share. In the B2B sector the SmartPlay.Tech offers the production of the world’s first blockchain gambling machines — SmartBox. For today, the classic roulette SmartRoulette.io is implemented on the machine. Pre-order at a special price is available on the SmartPlay.tech website.