FunFair vs Bitcoin Casinos
Why the best crypto gambling sites are FunFair Powered
Despite the high interest in online gaming and an evolution of gambling towards a more modern front, in line with the virtualisation of other aspects of modern life, user trust in this platform has been reportedly on the decline. The platforms fail to deliver on transparency in games and definitive player protection through the use of fair technology. The high interest in online gaming makes the development of a fair platform through which players can enjoy fair games a necessary advancement (1).
In 2017, global online revenues contributed to more than 10% of all gaming revenues, with projections made for this market value to increase by 50% in the next 4 years. The prevalence of mobile gaming over traditional gaming is so stark that interest in these platforms remains high while that of the rival ventures continues to drop. But these models are still too problematic for gamers. Real money casinos feature a lot of security concerns, potentially unfair technologies and a high cost of playing with Bitcoin. Bitcoin gambling sites are too untrustworthy for users, with very few Bitcoin casinos offering a way to verify the technology. While the best Bitcoin casinos offer some protection for their users, there have been too many cases of fraudulent blockchain ventures taking advantage of unsuspecting gamblers.
FunFair has achieved a fair and decentralised gaming platform that enables players to verify the legitimacy of games before deciding to play. It is based on high security protocols that combine with the fair technology to present a user-friendly experience that makes it safer and fairer than even the best Bitcoin gambling sites available.
What is FunFair?
Funfair launched a secure and transparent online gaming platform that offers a range of casino games for interested users. FunFair hoped to make a fair platform to alleviate the shortfalls of real money and Bitcoin casinos, which saw user trust levels in the services offered by these platforms significantly decline. The delivery combines he positive features of blockchain and Fate Channel technologies for a fair variety of card, slot, table and dice games, allowing players real and fair variety in their online gaming fields of interest (1) (2).
The brand’s focus on providing a comprehensive gaming selection with fair games has resulted in the development of engaging numbers, which will have players entertained throughout their session. While the challenges that may face all other crypto-casinos due to the lack of Ethereum infrastructure will still impact Funfair, the brand’s innovativeness and desire to improve has led to the development of a leading casino platform (3).
Through the use of a specific crypto currency, FunFair coin (FUN), the platform has enabled the development of a superior gaming environment to other blockchain gambling options such as Bitcoin casinos. Even the best Bitcoin casinos do not feature the security and transparency of this casino platform (6). The players, developers and operators both operate with this crypto currency on the platform. It is based on a state-channel technology, which develops smart contracts for emerging values. The decentralized nature of contracts, continuous gaming experience and transparent code, as well as the low operational costs helps the platform facilitate a great environment for users.
Is there value in FunFair?
FunFair is way ahead of many crypto currency competitors, in that it has already set out to achieve the goals listed in its whitepaper efficiently. FunFair features great technology to facilitate a safe and fair online gaming experience, which is not offered by other blockchain casinos. The addition of an Ethereum protocol makes it easy to set up a FunFair powered casino, which will also be low cost to operate and develop (2) (3). Here are the top reasons why you should consider gaming with FunFair.
Easier set up and operation for casinos
With the turnkey solution, you will be able to set up your in weeks. While you may have been required to take up months in registering and developing your Bitcoin casino, the FunFair platform allows you to take a significantly shorter amount of time. The turnkey solution also facilitates instantaneous transactions, which improves the convenience of game play. With this feature, your FunFair powered casino will be able to provide efficient services and maintain reliability with players.
Improved speed of service delivery
Players can access your platform easily, and will be able to engage in seamless and hassle free gambling because the platform is designed to facilitate high speeds. This platform will be conveniently paced whether during the sign up and verification process or during game play. It will allow you to access services on demand, thanks to the proprietary Fate Channels Technology that is based on state channel technology (2). The reduced possibility of delays whether in depositing or withdrawing funds or during the provision of services allows players to receive services as they need them. The platform will enable you to game online for hours without waiting for your funds and requests to be processed.
Unlike Bitcoin gambling, FunFair can guarantee improved efficiency for both casinos and players (7). As a player, you would be able to increase your access to services and reduce unnecessary wait times when you are gaming online. It could help you keep playing for hours. For casino owners, the low operation costs involved in maintaining a FunFair powered casino will ensure you can offer efficient services and develop your portfolio to cater for more players.
FunFair ensures the security of players and their funds while they engage in gaming. The use of smart contract technology ensures that casinos can meet payouts, regardless of the amount of winnings. The funds are accessed almost instantaneously after the contract has been completed. The existence of a smart contract provides security for players during the gaming process. They are assured that all winnings will be met, as well as being guaranteed of the safety of their wallets. FunFair casinos require no deposits, with players able to make real-time ad on-demand plays with available funds in their wallets. The use of these tokens also eliminates the need to share sensitive financial information, which can destabilize player security in the event of an attack. All contracts will also be secured against possible interference from either the operator or player.
FunFair games are the most fair
Even the best Bitcoin casinos cannot compete with FunFair casinos in this regard. While blockchain casinos operate in suspicious ways, with users unable to verify the fairness of any games they engage in (7), FunFair allows for verification of the fairness of every game. The transparency involved ensures players get exact value for their plays, which is not generally offered by Bitcoin video casinos. The use of smart contracts facilitates fairness and allows players and casinos to engage in even and unbiased gaming.
Use of FUN tokens
Your casino will run smoothly because all services and games are powered by the same currency. Users will play through FUN tokens, which can be used for more seamless transactions. Since no traditional financing options are allowed on the platform, users will not run the risk of their accounts being exploited by malicious attackers. Tokens reduce any compatibility problems that you could have due to a variety of payment methods. It also reduces the risk of declined deposits, which may affect user interest and ability to engage in online games with your casino (6).
Can FunFair address the flaws of Bitcoin casinos?
FunFair has been developed as a fair and transparent platform, which is set to offer users a fast, efficient and user-friendly online gaming platform that provides great entertainment and fair games. While real money and btc gambling sites may address some aspects of gaming, they generally fall short in providing a comprehensive package that ensures an ideal gaming environment for all users (1).
Funfair features its own high quality 3D games that are built to web and mobile interface standards, as well as additional games from outside developers. The platform features a modern blockchain-based state channel technology, which allows for real time transaction between the operator and player while consuming far less gas (4). The platform is designed as a solution to the flaws of current online gaming platform. But can FunFair help to make online gaming fair?
Growing concerns over the integrity of Bitcoin casinos
The rise in consumer mistrust levels in the fairness of games and the integrity of different real money and Bitcoin casinos is a common feature of this type of games. Since their inception, users have not been too trusting of these gaming platforms. Despite the continued interest in these platforms, the large number of high profile cases of cheating, a consistent lack of transparency in the software used for games and opaque cash out processes that may increase the risk of fraud have shaped perception against online gaming.
Blockchain gaming can be fair (9). With FunFair, players can verify gaming software and the fairness of a specific game. The platform allows players to verify that a game has been carried out according to the greed set of rules and without any external interference, which guarantees users’ trust in the sanctity of the process. While only the best Bitcoin casinos may offer this feature, FunFair even guarantees cheat proof games by ensuring players can verify their games.
Insecurity of funds
The nature of transaction of funds in Bitcoin gambling should make users uneasy about engaging in these games. All current casinos will require players to deposit some amount of money into the casino’s reserve before taking part in their games. In the event of insolvency, your funds may not be completely protected. You generally have no guarantee that your money is safe even before you have considered playing in Bitcoin casinos. The anonymous nature and the limited options in recovering your resources make Bitcoin gaming potentially dangerous for players. Some malicious platforms may even take advantage of this to siphon user funds.
FunFair removes this problem by enabling players game online with direct access to funding from their wallets (4). You will not have to deposit any money and risk losing your stake. The system is also designed to guarantee payouts in the event of wins, regardless of how much winnings the player may have accrued. Both parties in a game will have amounts deducted from their wallets and held until the fulfilment of a smart contract escrow, which works in real time. Once the game has been determined, the funds are credited to the winner’s wallet. You will always have access to your resources on this platform, which reduces the likelihood that a malicious casino can take advantage of your interest to steal your heard earned funds.
A faster and more reliable interface
Many jurisdictions under which blockchain and online casinos fall require that users complete a verification process before they can play (9). These usually feature very lengthy verification processes, with some Bitcoin casinos offering no guarantee of completion of process once your funds have been deposited. Many users have even complained of a failure of conversion with these casinos, whereby the transfer of funds is not completed which locks out the player. In many circumstances, this leads to single logins and a large number of unsatisfied players.
You will still be required to verify your age and identity on FunFair, although this will be through a one time process. You will be able to obtain a FunPass, which allows you access to all casinos powered by the platform. By using FUN tokens in your games, you will not need to register any traditional modes of payment, which will increase your overall security levels. Since no middleman institution is involved in your transaction, you will not run a risk of failed deposits. You will also incur far fewer expenses through transaction charges.
Fast and guaranteed payouts for players
Even the best Bitcoin casino games offer no guarantee over payouts. Since the money is already deposited into their wallet, how sure can a player be that they will not stand to lose out on potentially large winnings should the btc casino refuse to pay out? The process has been improved through internal control measures by these casinos to verify and approve payouts in order to reduce fraud. However, since these casinos operate without sufficient reserve to meet any wins, the cash out process is usually complicated and sluggish, with the risk of a decline. online and blockchain casinos do not face physical checks to determine their amounts in reserve much like traditional casinos, which makes them more likely to be unable to meet your cash out.
The structure of FunFair enables guaranteed payouts every time, regardless of the value of your winnings. The model features a smart contract protocol which requires both players and the casino can meet the terms of every stake. This guarantees your payout in the event of a win, with funds released as soon as the contract is completed. The oversight system built into the platform enables free and fun game play for players without any worry of potential problems during payout (2).
FunFair circumvents the high cost of operating online casinos
Many Bitcoin casinos lack the quality to compete with traditional casinos because of the high cost and complex nature of opening and operating an online casino. The long setup and licensing process, high initial outlay and a large number of operational needs makes it difficult for a sufficient number of casinos to operate online. They will require massive staffing needs, as well as enough resources to successfully offer games over a long time.
On the contrary, launching a FunFair powered casino can take only a few weeks instead of the usual lengthy process. The platform is associated with a far lower cost for startups, due to its decentralised nature in an otherwise centralised industry. The use of a native crypto currency, smart contract escrow and fraud prevention mechanisms facilitate the development of an unbeatable gaming platform The reduction of the role of human employees contribute to the authenticity of FunFair powered crypto currency casinos.
Existing casinos are not optimised for modern players
Casinos are increasingly offering promotions and bonuses to attract customers because more and more players are shying away from blockchain gaming due to the potential risks involved. Even though there has been a consistent increase in the value of online gaming, the risks associated with it work to push players away from considering gaming on the platforms. These Bitcoin video casinos are neither fun nor friendly, with insecure and unstable platforms based on unverifiable technology. In order to survive in a competitive field, online casinos are looking to attract new players. They will offer promotions and bonuses, but these usually target new players. For more experienced and loyal players, only few such bonuses may be available. When it comes to Bitcoin casinos, players have to wait for long verification times, which can affect their ability to increase the size of their wallet by playing online.
While Bitcoin’s introduction was met with a widespread lack of knowledge from potential players, the new crypto-savvy player has a specific standard in terms of quality. Bitcoin casinos are limited in their ability to offer efficient and seamless gaming, which impacts the quality of games on offer. FunFair makes use of the latest developments in crypto-technology to ensure high quality and variety of games offered. Unlike Bitcoin casinos, FunFair also allows for more transparency, player protection and security.
Great partnerships and affiliate programs
Casino gaming is a popular avenue for revenue by gaming affiliates who develop technology that is designed to help shape or improve these games. Due to the high demands of operating a blockchain casino, many brands have been forced to commit to super affiliates, which have threatened smaller affiliate models. This limits the ability of Bitcoin casinos to take up new and innovative options which may facilitate better game play and a more enjoyable user experience. It is a major reason why Bitcoin casinos have incorporated so few updates despite the leaps achieved in blockchain technology.
FunFair’s affiliate network offers the opportunity for development of partnerships, which allows for greater improvisation and innovation. Unlike traditionally in-house game developer options taken up by most casinos, FunFair features a marketplace for real money casino games. The variety offered to players is based on the platform’s commitment to variety, which is further enhanced by the dedication to affiliate programs. The ability to harness affiliate skill and technology has helped to improve the interface and operation of the FunFair platform, allowing for better game play.
FunFair offers efficient regulation
Casino regulation revolves around the provision of fair games, and a mandate to prevent illegal activities. Bitcoin casinos depend on a biased operator who may not have the interests of the players at hand. The use of regulatory measures such as reliance on third party operators could increase their vulnerability to attacks and data loss, with the increased risk of exploitation making them unsafe gaming platforms.
FunFair combines multiple autonomous regulatory measures to ensure a fair and safe gaming platform for interested players. The platform guarantees fair and verifiable games, with both players and operators setting up a contract in escrow before any gaming can occur. The funpass, which requires verification and the detailed Know Your Customer standard, helps to facilitate the safety and security of the platform for players.
How does FunFair Work?
The platform combines an Ethereum protocol for smart contracts with modified state channel technology and the use of a universal, user friendly and secure token. These factors combine to facilitate real-time gaming, which is exclusive to the platform. While Bitcoin casinos offer more efficiency than normal casinos, they cannot compete with FunFair powered casinos because they are neither as efficient nor as secure and transparent. But how do FunFair powered casinos work?
When playing on Bitcoin casinos, you will need to make a deposit into your account to play. These casinos will usually offer players the ability to make a wallet with them before verifying their account. After creating your wallet, you will be required to fund it through a bank or wire transfer that exchanges Bitcoin for money or value. Once you have deposited funds into your wallet and verified your account, you will be eligible to start playing (8).
However, this usually take some time before the transaction is entered into the Bitcoin blockchain ledger, which means that you could have to wait until your request became authentic before playing. For users interested in making big wagers, Bitcoin gambling would require sufficient set up time because the transaction would need to be processed by the blockchain over a lengthy amount of time. After the funds reflect on your wallet, you will be eligible to play Bitcoin poker, Bitcoin roulette , Bitcoin dice and other Bitcoin games in your casino of choice. After your online gaming, you may be forced to make a withdrawal request and wait for it to be processed before the funds are sent to your wallet or account, depending on the terms of payment (8).
Like Bitcoin casinos, FunFair powered casinos offer instantaneous deposits. Regardless of the amount you want to wager with, the transaction will reflect instantly and allow you to play as you please. It is currently developed solely for crypto-enabled browsers such as MetaMask, but can also support regular browsers with an integrated plugins. The platform features many games and innovative new additions, which ensure users sufficient variety. Unlike Bitcoin casinos, users will only be required to register and verify their account once before accessing any casino on the platform.
When players enter a game, the value of the wager is sent to a Fate Channel smart contract to allow them to play. The subsequent payout value of their wager is also attached to this contract from the casino, ensuring that players can access their wins instantly. Both these amounts are held in escrow until the contract is complete, with the appropriate funds sent to the winner. FunFair is superior to blockchain in that it offers the ability to determine and execute wagers, payouts, developer rewards, affiliate revenue and network fees in real time, which ensures transparency and security for all transactions.
Is the FUN token better for gaming than Bitcoin?
There are about 17 billion FUN tokens, which are already pre-mined and feature a cap in number. They are located in the Ethereum blockchain, with no new coins set to be released. It powers all services offered on the platform, including payouts to players, licensing fees, betting stakes and compensation to stakeholders. Fun is designed to provide a secure and verifiable medium for exchange in online game play without the additional hassles involved through transacting via a third party middle man such as a banking institution.
Fun can be acquired on the gaming platform for use in games, or through a number of third party sources such as third party owners and indexed crypto currency exchanges. FunFair can be acquired through both decentralized and centralized exchanges, with players allowed to find means that suit them most.
FUN tokens may be used for a number of functions, including purchasing in-game credits for use on casino games available through the platform. They can also be used by operators to finance the casino operations, including covering payouts, accepting wagers and paying platform licensing fees. Affiliated parties such as game developers and marketers are paid in FUN, which may also apply to any other fees involved on the platform. FUN may also offer in-game purchases and freemium bonuses, and has been projected for future use in physical purchases. But are these tokens any better than Bitcoin?
They are faster
When playing casino games online, such as Bitcoin poker, you may be required to make more than one transaction. The slow verification times could affect your efficiency and ability to play, which may cause a bad user experience. Have you have taken up Bitcoin gambling before? You may have noticed and dreaded these lengthy wait times. Unlike Bitcoin gamin, FUN offers the ideal blockchain gaming currency because it is instantaneous.
They are decentralized and frictionless
The reduced number of transactions on the FunFair platform, which are based on the seamless nature that is supported by the use of the FUN token, reduces the level of risk that may be raised by third party affiliates. You will not suffer any loss of funds that may arise from counterparty risk because the tokens are designed for a singular and definitive transaction. These tokens are more efficient than Bitcoin and other crypto currency options that may be used for gaming because of the reduced number of transactions involved. You will be guaranteed an optimum user experience when playing in FunFair powered casinos.
They are transparent
The ownership of FUN tokens is authentic and can be verified through a secure transaction ledger. Even though owners may remain anonymous, the ledger allows efficient reporting and auditing of the ownership of any tokens. The Ethereum blockchain, smart contracts and know your customer policy helps to reduce the likelihood of fraud, allowing FunFair powered casinos to necessitate fewer checks. The result of this use of a transparent crypto currency helps to increase the efficiency of game play.
They are certain
Btc gambling is still risky for players because the crypto currency is very volatile. The dramatic changes that this crypto coin has undergone over any time period in the past four years is further testament to the potential downfalls of using an unsecure crypto currency for gaming. Will your winnings from Bitcoin roulette still hold the same value tomorrow? While FUN tokens cannot guarantee price changes as a result of market factors, they have a distinct certainty that is based on their limited production. Unlike Bitcoin, no more FUN tokens can ever be mined. There is also a large number of FUN tokens in cold storage, which helps to maintain price according to the forces of demand and supply.
They are secure
FUN tokens are developed according to Fate Channel technology, which includes smart contracts. During gaming, your funds are protected in their use by this mechanism. Any wager involving FUN tokens will feature both your stake and winnings being held in escrow until the contract is complete. Neither the player no operator can interfere with the game or access funds until they have earned them through contract fruition. In the event of an external hack, the casino will still be protected from loss because the FUN tokens can only be accessed through the Fate Channel. Even hackers will have to play to win FUN tokens. Bitcoin casinos cannot offer this type of security, with players forced to deposit funds into a centralised wallet that is not protected from external influence.
Does the FunFair protocol offer more value for all parties than Bitcoin?
The proprietary FunFair protocol and platform are designed to improve on the shortfalls offered by online and Bitcoin gaming. The potential for benefit across the board sets it apart from other gaming platforms, which are increasingly offering little value for different stakeholders. Here are some of the top benefits of FunFair for all parties involved.
Less than 40% of players believe that online and Bitcoin casinos are trustworthy and fair. Most platforms will require players deposit funds and undergo a rigorous registration and verification process, which might require sensitive financial and personal information. These factors contribute to an unhealthy and opaque gaming environment, making the Bitcoin gamble extremely high risk.
FunFair offers a fair, transparent and secure gaming platform (5). FunFair powered casinos offer verifiable services that guarantee their fairness. The reduced friction during registration and verification, as well as the reduced role of third party middlemen in any transaction makes the platform secure and convenient for players.
FunFair guarantees payouts for players regardless of insolvency or security status, with payouts made after every contract is completed. Players can also verify the transparency and fairness of games. These games are also designed to improve user experience, with the increased variety and seamless game play guaranteed to make gaming on the platform more enjoyable.
For casino operators
The rise in taxes and other operational costs, as well as the spike in competition has made online and blockchain casinos too expensive to run and manage. Operators will be faced with significant staffing needs, which can reduce profitability. Operators who do not already have a significant market hold must develop innovative and unique products that meet the standards of gaming and social responsibility. This has limited the options available in terms of trustworthy, new online and Bitcoin casinos.
Operators are set to benefit from the increased interest in crypto currency and blockchain technology. The increased awareness over Bitcoin has resulted in a spike in information on other crypto currencies, with new players taking an interest in FunFair. The reduced demands of opening a casino and the lower operation costs involved have made it easier for operators to come up with exciting options for players. The casinos offer fair, secure and transparent gaming based off the unique FunFair protocol and platform. The use of decentralized smart contracts allows for increased efficiency and reduces the need for verification over every transaction. Casino owners will benefit from the lower risks of a successful external attack, which should ensure a more secure environment for all parties.
For affiliates and partners
FunFair powered casinos are easy to set up and operate, which allows affiliates to play an operator role as well. Affiliates will benefit from the new audience of players, as well as the enhanced security and automation levels that make FunFair powered gaming enjoyable and transparent. The reduced likelihood of human error which is facilitated by blockchain technology will ensure better security for affiliates, who could find value in the reduced cost of reporting.
For crypto developers
Crypto developers can work with FunFair casinos to develop their abilities and earn FUN. The platform provides crypto developers access to global proprietors in crypto gaming, which should help increase their portfolio. Unlike online casino Bitcoin gambling, Funfair does not restrict developer functions to an in-house role. Instead, these functions are delegated to developers who are tasked with making fair games. The potential payout in FUN and growth of reputation could help build their reputation in gaming.
FunFair’s leading standards on transparency and fairness are likely to influence how online and blockchain are regulated. The safety and security offered by the platform, including tools such as the KYC index that can help verify a player’s age, source of funds and identity will help reduce the likelihood that this platform will facilitate criminal activity. It represents the new standard for a common problem, with Bitcoin casinos regularly accused of abetting criminal activity, with these platforms incapable of verifying user details.
How do the risks raised by the FunFair platform compare to that of Bitcoin casinos?
As FUN is a relatively new crypto currency, there may be some risks surrounding its purchase and use. However, these are no different from any crypto currency option available, including Bitcoin. It is highly dependent on the adoption and use of blockchain technology, which may be impacted y government regulation. The maintenance and development of software on the Ethereum network could also impact the performance of fun, as well as changes to consumer preferences. There are a few factors which may influence the market price of fun, which could also shape the nature of value for players and other stakeholders.
Bitcoin gambling offers all these risks as well, with the additional lack of transparency or security (10). Did you know that Bitcoin casinos may remain unregulated under certain jurisdictions? Many casinos will opt against licensing in favor of cost saving measures. These casinos may not guarantee the transparency of your wager, and offer no accountability measure. Bitcoin is increasingly becoming popular online and around the world, but it has not yet been accepted as a currency option. This means that players will have a hard time finding Bitcoin-supporting casinos, or be forced to incur charges that may increase the cost of gambling.
Bitcoin withdrawals can be tedious, which may affect your ability to receive your funds. The verification and authentication process by casinos will usually take a large amount of time, with many casinos opting for a manual process. The lengthy recording times could also affect your ability to withdraw or deposit funds instantly, which can limit your game play.
Like FUN, Bitcoin is a volatile crypto currency. It has undergone significant and dramatic changes in price for a long amount of time, which eliminates it as an ideal and valuable option for gaming. Will your Bitcoin have the same value tomorrow? Chances are high that they will not. The risk raised by other factors surrounding Bitcoin gambling makes Bitcoin casinos a less viable option than FunFair powered casinos.