On-Chain Gambling

Introduction

Human nature and gambling have been linked together as far as history goes back. Pick any time period, and there is evidence of humans wagering on games in one way or another. Whether it was betting on your favorite gladiator in the Colosseum or strolling into a Vegas casino and playing the slots, history has proven that humans love to gamble. In modern society, there are more and more ways for humans to get their gambling fix. Traditionally, humans would have to go to the casino or racetrack to place their bets, but technology has significantly lowered the barriers of entry so that the average person can find a multitude of things to gamble on from the comfort of their couch with just a phone and an internet connection. The next wave of gambling mania may be fueled using blockchain technology with on-chain sports betting, Web3 eSports, crypto casinos, ultra-high leverage trading, and unique crypto experiences.

Different Types of Gambling

Two large umbrellas encapsulate the various gambling games: games of skill and games of chance. There is certainly a grey area between the two, and arguments can be made for both sides for some games, but the general consensus is outlined below.

Skill Games