Online gambling has forever changed in the beginnings of the 2010’s once the provably fair algorithm was introduced to the public. To keep things short, the provably fair algorithm is an ingenious piece of code that allows players to verify if the casino that they’re playing their favorite games on is legitimate, fair and square.
1. Provably fair casinos are not safe
This is one of the most common beliefs when it comes to provably fair casinos. When you enter a casino that’s provably fair you’re not only getting the safety that the algorithm ensures for the games but also you’re assured by the system that whatever you do on the site, you’re on a safe portal that takes care of your privacy and personal details. Some casinos are even anonymous especially for those users who are extremely private. Most serious casinos, although are on the blockchain, are regulated by international boards or governments that take gambling laws seriously.
2. Provably fair casinos are only available with Bitcoin
Another misunderstanding about casinos that operate provably fair games is that they’re only available with Bitcoin. While this is somewhat true, most blockchain-based casinos are also offering other methods of banking. There are two main types of provably fair casinos based on the banking methods: there’s the Bitcoin and cryptocurrency casinos that accept only Bitcoin and other virtual assets like Litecoin, Ethereum and so on, and then there’s the Bitcoin and fiat currency places. These places are letting you play with rather Bitcoins or normal currency like USD, Euros or Russian Rubles.
3. Provably fair casinos are only offering basic security
People fear that the overall security the provably fair casinos are offering is under the one from the regular places. This is entirely wrong. Not only provably fair casinos offer the ultimate security, they’re many times better at ensuring a safe gambling medium. Encryption is set at the highest level, with the 256 bit type enabled across the board. Also, many sites are offering two-factor authentication, meaning you will need to add a password as well as a phone number when you register. Every time you log on, you will get an SMS message on your phone with a code, ensuring nobody but yourself can access your virtual account.
4. Provably fair casinos are not fair
This misconception is the base of anti-provably fair propaganda in the online. Traditional casino giants claim that provably fair algorithms are simple pieces of code that don’t actually do much and can still be cheated by the manager of a certain casino. In reality, provably fair casinos are as fair as they can be, basically showing players the outcomes of their hands in a secure, correct manner. You cannot cheat a session on a provably fair game simply because the outcomes are generated before the start of the set session.
5. Provably fair casinos have little games in their libraries
While this is true on some occasions, many provably fair casinos are offering tons upon tons of games on their sites. Many casinos based on the blockchain come with hundreds of games at the time. Regardless if you’re looking for slots, table games like roulette, baccarat or blackjack, video poker or dice, you will find every single game you can think off on the provably fair casinos on the web. It really is just a matter of searching for your favorite games and making sure they’re all in the same place.
6. Provably fair casinos have boring designs
Most traditional casinos invest in their designs and are spending millions of dollars to make sure their portals are as incentive as possible on the visual aspect of things. In the meantime, most casinos based on the provably fair algorithm are run by teams of 2 to 5 persons as most of them are start-ups. Still, the claim that these casinos have boring designs is unbiased. The fact of the matter is most players that try one of these casinos at least once will never go back to the traditional ones. And yes, one aspect of it is the clean, modern and simple design these places are coming with.
7. Provably fair casinos are scams
While the traditional online casinos are sometimes making the headlines with a cheating story where people are getting scammed out of their minds while playing on these sites, there hasn’t been at least one story about a scam happening on a provably fair casino. This is because the nature of the algorithm and the blockchain itself makes it impossible for both the administrators and the players to cheat the system or the other players. Scams are basically impossible on the blockchain, as the entire network is public and secured by its users directly.
8. Provably fair casinos are slow
The blockchain is one of the fastest new technologies on the planet. While normal banking usually takes up to a week to manifest, like you were to have some money transferred to your account from a win, on the blockchain you’ll usually get your Bitcoin in a matter of minutes. The time it takes the network to verify and accept your transaction can grow if you’re expecting a larger sum of virtual coins, but it never goes over 24 hours no matter where you’re playing.
9. Provably fair casinos don’t work in some countries
Based on the national laws of a certain country, some provably fair casinos might not work where you live. Still, as most casinos that run on the blockchain offer a level of privacy unmatched by traditional casinos, you can most certainly be sure many more provably fair casinos will be available to you in your country than normal, government-regulated ones. Again, it’s just a matter of searching and finding the casino that works best for you regarding laws and regulations.
10. Provably fair casinos are just on the blockchain
While it’s true that most provably fair casinos are on the blockchain nowadays, as the blockchain is the one network that can support the algorithm and ensure its good workings, some casinos that use the provably fair algorithm are actually outside the network, These casinos are trying to implement the algorithm on the regular web, allowing players to test these games and see for themselves the benefits of playing a game which you can later test for fairness.
11. Provably fair casinos charge high fees
One of the most spread false claims about the provably fair casinos is there’s a lot of fees players need to pay in order to enjoy these safe, fair games. In reality, there’s barely any fee you have to pay as a player. The house edge on the provably fair casinos is one of the smallest in the industry, always set at about 1%. The deposits and withdrawals fees are also virtually nonexistent on most online casinos on the blockchain.