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THEDEFIPLUG
@thedefiplug
๐‹๐ž๐ญโ€™๐ฌ ๐ญ๐š๐ฅ๐ค ๐†๐š๐ฆ๐›๐ฅ๐ž๐…๐ข ๐ข๐ง ๐š ๐ฆ๐ข๐ง๐ฎ๐ญ๐ž๐Ÿ‘‡ ๐†๐š๐ฆ๐›๐ฅ๐ž๐…๐ข is a decentralized online gambling platform that uses blockchain technology to run
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THEDEFIPLUG
@thedefiplug
โ™Ÿ๏ธ๐“๐ก๐ž ๐ง๐š๐ซ๐ซ๐š๐ญ๐ข๐ฏ๐ž & ๐ข๐๐ž๐š ๐ข๐ง ๐œ๐ซ๐ฒ๐ฉ๐ญ๐จ The idea is that blockchain technology and cryptocurrencies can be used to create more transparent, fair and efficient gambling platforms since itโ€™s decentralized
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THEDEFIPLUG
@thedefiplug
โ™Ÿ๏ธ๐“๐ซ๐š๐๐ข๐ญ๐ข๐จ๐ง๐š๐ฅ ๐œ๐š๐ฌ๐ข๐ง๐จ๐ฌ Theyโ€™re often criticized for being opaque & unfair, with players having little to no way to verify the fairness of the games or the integrity of the operators
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THEDEFIPLUG
@thedefiplug
โ™Ÿ๏ธ๐๐ฅ๐จ๐œ๐ค๐œ๐ก๐š๐ข๐ง ๐ฌ๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ Blockchain technology can address these concerns with the traditional casinos by providing a transparent and immutable record of all gambling transactionsโ€” players can be sure that their bets are being placed fairly
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THEDEFIPLUG
@thedefiplug
โ™Ÿ๏ธ๐‚๐š๐ญ๐š๐ฅ๐ฒ๐ฌ๐ญ๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ง๐š๐ซ๐ซ๐š๐ญ๐ข๐ฏ๐ž โฌโฌโฌ
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THEDEFIPLUG
@thedefiplug
โžฌ ๐—ง๐—ฟ๐—ฎ๐—ป๐˜€๐—ฝ๐—ฎ๐—ฟ๐—ฒ๐—ป๐—ฐ๐˜† ๐—ฎ๐—ป๐—ฑ ๐˜€๐—ฒ๐—ฐ๐˜‚๐—ฟ๐—ถ๐˜๐˜† ๐—ผ๐—ณ ๐——๐—ฒ๐—™๐—ถ DeFi is built on blockchain technology, which is a transparent and secure way to record transactions
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THEDEFIPLUG
@thedefiplug
โžฌ ๐—ง๐—ต๐—ฒ ๐—ฝ๐—ผ๐˜๐—ฒ๐—ป๐˜๐—ถ๐—ฎ๐—น ๐—ณ๐—ผ๐—ฟ ๐—ฑ๐—ถ๐˜€๐—ถ๐—ป๐˜๐—ฒ๐—ฟ๐—บ๐—ฒ๐—ฑ๐—ถ๐—ฎ๐˜๐—ถ๐—ผ๐—ป DeFi can be used to create decentralized casinos that are not subject to the same regulations as traditional casinosโ€” could lead to lower fees
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THEDEFIPLUG
@thedefiplug
โžฌ ๐—ง๐—ต๐—ฒ ๐—ด๐—น๐—ผ๐—ฏ๐—ฎ๐—น ๐—ฟ๐—ฒ๐—ฎ๐—ฐ๐—ต ๐—ผ๐—ณ ๐——๐—ฒ๐—™๐—ถ DeFi is not limited by geographical borders, which means that it can be accessed by people all over the world.
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THEDEFIPLUG
@thedefiplug
โ™Ÿ๏ธ๐๐ซ๐จ๐›๐ฅ๐ž๐ฆ๐ฌ ๐†๐š๐ฆ๐›๐ฅ๐ž๐…๐ข ๐ฌ๐จ๐ฅ๐ฏ๐ž๐ฌ Crypto-based innovation tends to take proven solution and slap a shiny โ€œdecentralizedโ€ sticker on it. That is the case for GambleFi as well.
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THEDEFIPLUG
@thedefiplug
โžฌ ๐—ฅ๐—ฒ๐—ฏ๐—ฎ๐˜๐—ฒ ๐˜€๐˜†๐˜€๐˜๐—ฒ๐—บ This is one of the main innovative features of GambleFi, this rebate system generates a certain amount of turnover, this is a good advantage for players, similar rakeback and loyalty programs exists for traditional casinos too.
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THEDEFIPLUG
@thedefiplug
โžฌ ๐—ง๐—ฟ๐—ฎ๐—ป๐˜€๐—ฝ๐—ฎ๐—ฟ๐—ฒ๐—ป๐—ฐ๐˜† GambleFi leverages decentralized protocols and smart contracts to ensure fairness
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THEDEFIPLUG
@thedefiplug
โ™Ÿ๏ธ ๐‚๐ก๐š๐ฅ๐ฅ๐ž๐ง๐ ๐ž๐ฌ ๐†๐š๐ฆ๐›๐ฅ๐ž๐…๐ข ๐Ÿ๐š๐œ๐ž๐ฌ โžฌ ๐—ž๐—ฌ๐—– ๐—ฉ๐—ฒ๐—ฟ๐—ถ๐—ณ๐—ถ๐—ฐ๐—ฎ๐˜๐—ถ๐—ผ๐—ป Casinos may ask for unreasonable strict KYC documentation. Some times casinos outright refuses to process big withdrawals under false pretext
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THEDEFIPLUG
@thedefiplug
โžฌ ๐—Ÿ๐—ถ๐—บ๐—ถ๐˜๐—ฒ๐—ฑ ๐—ฏ๐—ฒ๐˜๐˜๐—ถ๐—ป๐—ด ๐—ผ๐—ฝ๐˜๐—ถ๐—ผ๐—ป๐˜€ Another problem is that casinos and especially sportsbook, do not offer the variety players seek. Just like how CEX do not offer all altcoins, bookies donโ€™t offer all sports and leagues a player will bet on
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THEDEFIPLUG
@thedefiplug
โžฌ ๐—ฆ๐˜๐—ฎ๐—ธ๐—ถ๐—ป๐—ด ๐—น๐—ถ๐—บ๐—ถ๐˜๐˜€ Players might have their staking limit reduced and their wagers severely limited if theyโ€™re listed as โ€œwinning playersโ€ that is, their winning rate is high
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THEDEFIPLUG
@thedefiplug
โžฌ ๐—Ÿ๐—ฎ๐—ฐ๐—ธ๐—น๐˜‚๐˜€๐˜๐—ฒ๐—ฟ ๐—ฐ๐˜‚๐˜€๐˜๐—ผ๐—บ๐—ฒ๐—ฟ ๐˜€๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ Having a poor customer service can lead to unresolved problems that can be unnerving for players. That can spread a bad look on the entire industry
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