THEDEFIPLUG on Warpcast

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𝐋𝐞𝐭’𝐬 𝐭𝐚𝐥𝐤 𝐆𝐚𝐦𝐛𝐥𝐞𝐅𝐢 𝐢𝐧 𝐚 𝐦𝐢𝐧𝐮𝐭𝐞👇 𝐆𝐚𝐦𝐛𝐥𝐞𝐅𝐢 is a decentralized online gambling platform that uses blockchain technology to run

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♟️𝐓𝐡𝐞 𝐧𝐚𝐫𝐫𝐚𝐭𝐢𝐯𝐞 & 𝐢𝐝𝐞𝐚 𝐢𝐧 𝐜𝐫𝐲𝐩𝐭𝐨 The idea is that blockchain technology and cryptocurrencies can be used to create more transparent, fair and efficient gambling platforms since it’s decentralized

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♟️𝐓𝐫𝐚𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐜𝐚𝐬𝐢𝐧𝐨𝐬 They’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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♟️𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 Blockchain technology can address these concerns with the traditional casinos by providing a transparent and immutable record of all gambling transactions— players can be sure that their bets are being placed fairly

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♟️𝐂𝐚𝐭𝐚𝐥𝐲𝐬𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐧𝐚𝐫𝐫𝐚𝐭𝐢𝐯𝐞 ⏬⏬⏬

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➬ 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗮𝗻𝗱 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗼𝗳 𝗗𝗲𝗙𝗶 DeFi is built on blockchain technology, which is a transparent and secure way to record transactions

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➬ 𝗧𝗵𝗲 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹 𝗳𝗼𝗿 𝗱𝗶𝘀𝗶𝗻𝘁𝗲𝗿𝗺𝗲𝗱𝗶𝗮𝘁𝗶𝗼𝗻 DeFi can be used to create decentralized casinos that are not subject to the same regulations as traditional casinos— could lead to lower fees

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➬ 𝗧𝗵𝗲 𝗴𝗹𝗼𝗯𝗮𝗹 𝗿𝗲𝗮𝗰𝗵 𝗼𝗳 𝗗𝗲𝗙𝗶 DeFi is not limited by geographical borders, which means that it can be accessed by people all over the world.

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♟️𝐏𝐫𝐨𝐛𝐥𝐞𝐦𝐬 𝐆𝐚𝐦𝐛𝐥𝐞𝐅𝐢 𝐬𝐨𝐥𝐯𝐞𝐬 Crypto-based innovation tends to take proven solution and slap a shiny “decentralized” sticker on it. That is the case for GambleFi as well.

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➬ 𝗥𝗲𝗯𝗮𝘁𝗲 𝘀𝘆𝘀𝘁𝗲𝗺 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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➬ 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 GambleFi leverages decentralized protocols and smart contracts to ensure fairness

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♟️ 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐆𝐚𝐦𝐛𝐥𝐞𝐅𝐢 𝐟𝐚𝐜𝐞𝐬 ➬ 𝗞𝗬𝗖 𝗩𝗲𝗿𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 Casinos may ask for unreasonable strict KYC documentation. Some times casinos outright refuses to process big withdrawals under false pretext

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➬ 𝗟𝗶𝗺𝗶𝘁𝗲𝗱 𝗯𝗲𝘁𝘁𝗶𝗻𝗴 𝗼𝗽𝘁𝗶𝗼𝗻𝘀 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 don’t offer all sports and leagues a player will bet on

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➬ 𝗦𝘁𝗮𝗸𝗶𝗻𝗴 𝗹𝗶𝗺𝗶𝘁𝘀 Players might have their staking limit reduced and their wagers severely limited if they’re listed as “winning players” that is, their winning rate is high

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➬ 𝗟𝗮𝗰𝗸𝗹𝘂𝘀𝘁𝗲𝗿 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝘀𝗲𝗿𝘃𝗶𝗰𝗲 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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♟️ 𝐒𝐨𝐦𝐞 𝐭𝐢𝐩 𝐟𝐨𝐫 𝐠𝐚𝐦𝐛𝐥𝐢𝐧𝐠 𝐫𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐥𝐲 𝐰𝐢𝐭𝐡 𝐜𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 ➬ Only gamble with money that you can afford to lose ➬ Set a budget & stick to it ➬ Don't chase your losses

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➬ Take breaks if you're losing ➬ Don't gamble when you're under the influence of alcohol or drugs ➬ Get help if you have a gambling addiction

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Thank you for reading Don’t forget to follow for more Follow a good crypto educator @alexwacy

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