Gambling and Gaming

Smart Contract

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What is a Gambling Smart Contract

A gambling smart contract is an agreement to engage in a gamble. In a gambling smart contract two parties wager something, especially money, for a chance to win a prize or an amount. Gambling smart contracts can enforce terms related to legal gambling activities where gambling is legal.

Key Features

  • Store partial

    identity information on the blockchain

  • Complete verification

    automatically

  • Monetise

    specific personal information

  • Merge with other

    smart contracts

Overview

The Internet is full of offers to play online slot machines or to check out new virtual gambling rooms. When you play for free, you don’t care too much whether you win or lose. But when you play for money, you start thinking about payments and ways of getting your winnings.

If a virtual casino adopts smart contracts, you would have no reason to worry: whenever you win you get your reward, whenever you lose you can’t fool the system and keep your money.Gambling becomes transparent and honest. The same algorithm applies to any paid computer game and e-sports.