The blockchain technology is now attracting a host of online gambling companies to move the gaming and casino scenes with provably fair game mechanics.
These companies aim to take advantage of the underlying transparency and security features of blockchain, the distributed LEDGER technology, which makes back-end game mechanics impossible.
Honestly, gambling is more fun when a feeling of losing your money is out of your way. Blockchain is the latest technology to be adopted in poker. Experts believe the technology has what it takes to eliminate this feeling with less vulnerability to attacks.
How Blockchain Poker Works
As we all know, the Poker game involves a binder for every participant in a game. The binder gets many pages when several rounds are done among the same players.
Introducing the concept of blockchain Into the game, the binder becomes a shared ledger of the token records, each page in the binder becomes a block. The linking of the pages (block) on a player's binder forms a chain, thus the blockchain. The blockchain concept flows even better when the system uses a digital currency such as bitcoin.
Benefits of Blockchain Poker
The following are the benefits of blockchain-based gambling systems.
- Trusted Network – A decentralized platform maintains trusted transactions without relying on a central authority
- Free and fair game - Blockchain makes the poker systems transparent thus providing a level ground for all players
- Anonymity – Making your transactions anonymous helps in safeguarding your gains from hackers and online cons
- Easy to verify – Every move made on a blockchain network can be traced to its inception. This makes investigations and accounting easy
- Valuable rewards – Users of Blockchain-based platforms are rewarded with tokens which are in most cases valuable than other forms of rewards
- Fast and Cheaper Transactions – A Bank would mostly take two working days to process a withdraw or deposit request. Cryptocurrency requests are however exchanged in a peer-to-peer model, eliminating central entities, therefore, ensuring instant processing of requests
Pitfalls of Blockchain Poker
Resource intensive – Blockchain systems require high computing and electricity power. The technology has to be implemented on advanced computers and servers, making it expensive.
Complexity - Blockchain is a complex technology, and integrating it into a Poker system introduces potential issues with novice players.
Limited options - Currently, the blockchain poker sites are few, and those interested in the unique features of blockchain in poker are limited in options.
Volatility – Poker platforms also succumb to the volatility woes of cryptocurrencies. For example, players can't tell the real value of their earnings from playing poker.
Getting Started with Blockchain Poker
Follow these steps to start playing on Blockchain Poker:
- Choose a crypto wallet - To start playing on Blockchain Poker, you need to have a crypto wallet. A crypto wallet is an online "pocket" where players store their stake and receive payments. An ideal wallet is secure, accessible, and supports multiple currencies.
- Acquire coins – After choosing a wallet, you will need to acquire a currency that you'll use to stake. There are several ways to acquire these currencies: from your Poker platform, a broker, or peer-to-peer exchanges.
- Send the coins to your Poker account and start playing – The final step is sending the purchased coins to your account by following the guiding prompts. At this point, you can now participate in games.
Altbet.io Blockchain Poker Platform
Poker is among the eight provably fair custom-made games on Altbet. Other games include Dice, Coin Flip, Penalty, Roulette, Crash, Slots, and Lotto. More work has been put on the poker platform in the last few months to make the platform more user friendly, including redesigning the platform to make it more efficient.
Features of Altbet Poker Platform
1. Poker Texas Hold 'em
Poker Texas Hold 'em is among the most popular poker games.
Altbet Texas Hold 'em allows up to 10 players to be seated at a table. A standard 52 card deck of playing cards is used during each hand, and a single deck is reshuffled upon the completion of each hand by our, provably fair, random system."
Altbet team has added more features in 2020, such as Player statistics (fold stats from pre-flop, flop, turn and river | raise frequency | total hands played | avg winning | biggest pot won | best hand), 1/2, x2, POT, ALL IN buttons. The Altbet development team also made improvements to the chat window, and the server to make the process faster.
2. Poker Texas Russian Roulette
Texas Rusiian Roulette is an action-packed cash game variant that sets pulses racing. Think of Texas Rusiian Roulette in the same way as the push or FOLD tables that some real money online poker sites offer, although there is a little twist. First, auto top-up and auto rebuy are set to be permanently on, ensuring everyone has a full-stack at all times. Second, the only action you can perform pre-flop is to tolimp in (call) or fold, meaning players often enter the hand with less than stellar holdings. Finally, once the flop is dealt, all you can do is push all-in or fold, which creates some massive posts.
Poker Texas Russian Roulette is still under development and will be available shortly after Poker tournament release.
3. Poker Tournaments
Apart from Texas Hold 'em, Altbet has two types of poker tournaments which will be soon available:
- Turbo Cash - daily tournaments for players with ABET prizes
- Super Sunday - weekly tournaments for players, every Sunday with ABET & BTC prizes
Both Poker tournaments are in the final stage of development and will be actively promoted in next few weeks.
Conclusion
Blockchain is the technology the world has been waiting for. It's use cases in various industries like finance and supply chain are too much to comprehend. In it's the latest move, the technology seems to be spreading into our normal life, and innovators in the gambling industry are now tapping into its features to help shape the industry.
Altbet.io is leading a revolution that will see gambling and betting take a better form. Their poker platform integrates blockchain technology to create a more secure and fairground for gamers. The platform's user-friendly interface is the best in the industry as far as blockchain poker is concerned.
