The word fairness rarely goes with the word betting. But, BetConstruct, a notable gaming & sports software authority are one of a few companies managing to merge those words. How? By developing Fasttoken, a full-feature betting solution built on Ethereum.
What Is BetConstruct?
BetConstruct provides gaming and sports betting suites to their clients. They offer a wide range of products, including game software (like poker, skill games, virtual sports), casino software, VR casino, and others.
They are a respectable company, always seeking to improve their business with the help of technology. This was demonstrated by them attending the recent Malta Blockchain Summit.
At the summit, BetConstruct presented the an Ethereum-powered betting and wagering system. The suite is simple, transparent and secure, boasting various games and betting options.
What Is Fasttoken?
Fasttoken is a decentralized gambling and wagering suite. It runs on Ethereum blockchain technology and offers a more balanced and transparent (and therefore enjoyable) experience.
Fasttoken is one of the first betting systems to provide both gaming and wagering options via the blockchain. Users can enjoy traditional casino games (slots, poker, casino), but this time in a much fairer environment.
They can also place bets on a vast array of sporting events, from traditional sports to E-sports. In fact, users can place bets on any event supported by the platform operator. This means that users will have much more wagering and betting options than in traditional industry.
House Edge And Neutral Random Number Generator
In traditional gambling, "the house always wins." Well not always, but it has a significant advantage over the player (1-15%). Naturally, the bigger the edge, the chances of player winning the wager decrease.
Fasttoken is built on Ethereum, which automatically increases transparency. Anyone can audit the systems, and the house edge often remains below 1%. On some occasions, the house has no advantage over the player.
Another big issue with traditional online betting and wagering suits is the so-called Random Number Generator (RNG). In most occasions, the RNG isn't random at all and is often pre-programmed with a specific algorithm. What's worse, these RNG programs aren't available to the public, which raises the suspicion that they are rigged.
Fasttoken runs their RNG live on the blockchain and without any pre-programmed algorithms. The generator fetches numbers from both the player and the casino, ensuring that no-one can predict the outcome.
On Freedom, Decentralization, And Transparency
Funds flow freely with no mediators. Everything runs on and through the blockchain and is therefore anonymous, but transparent. All actions are stored on the blockchain and can be checked by all parties involved.
Most importantly, smart contracts ensure that all processes are independent and unbiased. These smart contracts control the movement of all funds, ensuring that there's no cheating, fraud or centralized control.