Solving The Issues Of Centralized Online Casinos
In this section, we will clarify the issues that centralized online casinos have and how Promise Token is solving these major issues using decentralization and web3 technology.
A huge portion of current online casinos is centralized, which poses a problem for many. Because many users have already had the bad experience of being cheated by centralized online casinos in various ways. This includes cases such as keeping won earnings from gambling, manipulated games and the like.
Promise has made it its mission to provide decentralized solutions and offer its own transparent and fair online casino.
Many online casinos defraud right after a user has deposited money into their account. They do this by urging the user to deposit money, such as with a time-limited bonus. After this money is deposited, they don’t let you play with the deposited amount. Because often the amount is as small as $20-$50, many gamblers just give up and move on to another casino site, while the casino scams get away with it.
Since Promise Online Casino is completely decentralized, it is impossible by any means to relieve users of their hard-saved and earned funds. This is impossible because the smart contract being played with is, firstly, transparently visible in the blockchain, and secondly, Promise does not keep any of these funds, as they are sent directly to the smart contract.
Also, many online casinos manipulate their gambling games and make their users lose on purpose. This happens when they realize that a high amount has been wagered, or that the first games are always won to give the feeling that winning money is very easy and let the player lose almost exclusively after that.
Decentralization does not make manipulated games possible. Since each game has its own smart contract, this is also visible to all. This means that all functions and features of a Promise Casino game are transparently visible online, making manipulated games impossible.
It has often happened that users are cheated out of their identity data. This happens very quickly through ransomware, phishing or similar methods, or that the real casino owners pass on or sell the data of their players. It has also happened that casinos copy and misuse the registered credit card details.
Since Promise Online Casino is completely decentralized, it is not even necessary to reveal any information about your identity. Matter of fact, all players at Promise Online Casino are completely anonymous, as there is no account creation or credit card deposit. However, our players can still voluntarily share their email addresses and Telegram username to be kept informed of any updates.
Many gamblers are familiar with the fact that their winnings are suddenly frozen during payout and can no longer be withdrawn, especially if they have won a jackpot or similar. Victims contact the support and often receive either no response at all or delayed responses. In order to get your money back, a lot of effort has to be put into it, often a lawyer has to be called in, but this attempt fails for most of them because the license is located in countries where you don't have a lot of legal power to fight against such cases.
Another great advantage of a decentralized online casino is that the above mentioned payout refuses are not possible. This is because every time you win at Promise, the amount won is automatically credited by the smart contract to the connected wallet or the wallet you made a deposit with. This means that it is impossible to have any power over the funds of our users, since everything runs through the smart contract.