Web3 Casino Software Providers
Today, the term Web3 isn’t limited to the blockchain space, or even with industries closely aligned with blockchain and crypto. In fact, chances are that no matter what industry you work in, you’ve almost certainly heard something about Web3 and the way it will disrupt your business, your profession, and seemingly all of humanity in the years to come. To a certain extent it’s true. Web3 has the potential to disrupt and transform seemingly every industry. The online casino and iGaming industries are no different. In this article, we’ll explore the way that Web3 casino software providers are harnessing the power of Web3 to create an entirely new iGaming experience.
What are Web3 casino software providers?
To start, Web3 casino software providers such as Lion Gaming are companies that develop and maintain software for decentralized online casinos and sportsbooks. These software applications operate on the decentralized web, or Web3, and use blockchain technology to facilitate secure and transparent online gambling. However, it’s important to note that a truly decentralized experience in the iGaming space is difficult to achieve. For example, the odds feeds used for sports betting may come from a centralized odds feed provider, such as Sportradar for example. The same holds true with online casino games as well. They come from centralized third-party providers such as Pragmatic, Evolution, and Microgaming to name a few.
However, just because some components of the Web3 online casino experience aren’t entirely decentralized, it doesn’t mean that all the benefits of Web3 iGaming experiences are completely eliminated for players.
For a complete guide on how to choose online casino software providers, check out our article here!
Fairness and transparency
One of the main benefits of Web3 casino software is that it enables more fairness and transparency in iGaming. The decentralized nature of Web3 casinos means that there is less opportunity for manipulation or fraud on behalf of both the player and operator. This means that users can have confidence that the games they are playing are fair and that the odds of winning are not stacked against them. It also provides peace of mind to operators as they can be assured that players won’t fraudulently chargeback any losses they experience from wagering on your website.
Web3 casino software essentially eliminates the need to establish trust between player and operator, as payouts and winnings are automatically assured via the use of smart contracts. A Web3 online casino will typically allow the public to view the smart contracts that are used to facilitate wagers, adding to the transparency of the operation.
Another advantage of Web3 online casino software is that it offers players more security and anonymity. Since DApps normally do not require users to create an account or provide personal information, theoretically they can participate in online gambling without revealing their identity. This notion might be particularly appealing to users in countries where online gambling is illegal. However, it’s important to note that online gaming regulations and compliance requirements are still applicable to Web3 online casino and sportsbook operators. Things like Know Your Customer (KYC) and anti-money laundering (AML) procedures must be in place for anyone who wants to run a legitimate iGaming operation – Web3 or not. For more on gaming licenses, we encourage you to check out our article titled, Gaming Licenses: What iGaming Operator Need To Know.
What does Web3 casino software include?
In addition to on-chain wagering, Web3 casino software comes with all of the standard offerings as traditional white label online casino software. With a provider like Lion Gaming, your Web3 online casino offering includes secure payment gateways, advanced back office tools, CRM systems, Player Account Management (PAM) software, bonus systems, affiliate management, email marketing, multi-level agent systems, and of course all the games that iGaming players expect from any online casino operation. Some Web3 casino software, such as the one provided by Lion Gaming, also offer a sportsbook.
How can you use Web3 casino software?
To use Web3 casino software, users typically need to have a digital wallet that supports the cryptocurrency used by the DApp. This wallet allows users to store and manage their funds, as well as place bets and withdraw winnings. Some of the most popular digital wallets include Metamask, Trust Wallet, and WalletConnect to name a few.
How much does Web3 casino software cost?
Most online casino software providers charge operators a flat upfront fee, followed by a share of monthly gross gaming revenue or net gaming revenue. To learn more about the difference between the two, check out our article titled, Breaking Down GGR and NGR.
The upfront fee can also vary depending on the level of customization an operator wants for their website. Most iGaming platform companies offer their partners a limited amount of design templates to choose from. They completely neglect the importance of customization in iGaming. When working with Lion Gaming, providing an exceptional experience to your players is important to us. That’s why we offer complete and total customization of your Web3 casino.
To start your own Web3 casino using Lion Gaming’s Web3 casino software, contact Lion Gaming today and learn how we can bring your vision of a next-generation iGaming experience to life.