Crypto and Poker

Poker.

A game of gambling, strategy, and skill. A card game of bluffing that’s only fun when you can see the other players…right?

Wrong!

Physical proximity might have been an important part of the game in the 19th century, but that was before the internet. Gambling laws can vary from state to state, playing for real money is mostly illegal in the US. The same goes for internet gambling, but many states and countries still allow it. A quick Google search yields thousands of sites — some legit looking, others more shady, and all with the allure of cold hard cash.

But like anything on the internet, it’s buyer beware.

Basically, poker sites only care about one thing: making money.

Your computer gets a virus and your online account get hacked? Too bad.

Player privacy is compromised? Sucks to be you.

Bots unfairly winning every hand? Better luck next time.

Not to mention all the processing fees, rake or commission, and lack of incentive and a player may start to wonder why they’re spending their time and money on online poker.

Poker playing doesn’t come cheap — according to an article on Deadspin.com in order to make $60K, you need to play tournaments with a combined buy-in of $240,000. Nearly a quarter of a million dollars of buy-ins each year in order to make what is a little above average income in the US.

If only there was a decentralized system that ensured security, privacy, and transparency.

Oh wait, there is: Blockchain.

Crypto Poker Club sees there has been no real improvement in online poker since the early 2000’s, and now they’re doing something about it. They built a platform on the Ethereum network with the goal of improving the game experience for players.

Using blockchain tech, crypto poker has improved the game by increasing security, eliminating withdrawal; and processing fees, and implementing a new shuffling system that is guaranteed to always be fair.

In 2017, one poker website reported over $800 million in revenue. Nothing to sneer at. Now just imagine that, but with blockchain powering it. Crypto poker could be HUGE.

Crypto poker is just one example of blockchain powered games. There are loads of new ways that developers are using the technology, from in-game achievement rewards to storing gameplay on a verified ledger. Basically, blockchain is allowing players more opportunities to collaborate, create, profit, and grow. Plus, developers can make games they never thought possible.

But gaming is a $100 billion industry worldwide. How will anything ever change that?!

Well, like any innovation, industries must adapt as new technologies are invented. Blockchain gaming is not looking to compete with the pre-existing gaming space, instead the gaming industry will have to incorporate blockchain in order to stay relevant in the 21st century.

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Interested in a Crypto Poker Party? Email us at laura@teamglasses.com