In 2016 alone, online gambling generated over $44 billion in revenue, most of the revenue coming from mobile devices. With a projected 5 billion mobile devices and rapid increase in mobile gaming adoption rate, the gambling industry is projected to be worth well over $80 billion by year 2022 and that is for official numbers, we expect a large underground bigger market.
Online gambling industry does come with many challenges. Main challenges being consumer fears of not getting paid or being cheated during game play. Since its inception, online gambling has gone through several dubious practices in 2008 and 2011 specifically around world of online poker.
Traditional online casinos are under constant scrutiny for running off with player’s funds or installing “God Mode” features which allows inside players to see other people’s cards or manipulate the game outcomes in their own favors.
This brings us to an exciting opportunity of emergent blockchain technology that address all of the consumer concerns and makes online gambling transparent, safe and secure.
Introducing Unilot Platform
Unilot is a next-generation, Blockchain and Peer 2 Peer based gaming platform which brings power of transparency and accountability of blockchain technology while permanently resolving “not getting paid” concerns.
To address concerns of player payouts, Unilot utilizes Escrow through Smart Contracts to avoid funds handling, all of the funds sit safely in escrow and funds get distributed upon completion of each game.
Unilot solved the issue of “God Mode” by introducing an innovative approach to using Peer 2 Peer communication and Mental Poker Algorithm which allows Players involved in games that require card decks, to shuffle cards cryptographically without having Unilot systems having a preview of what the deck is.
Unilot gaming platform will offer games like Lottery, Poker, Auction, Bingo and betting.
What makes Unilot unique is that unlike traditional online gambling platforms, it will offer Unilot players ability to setup their own private games and act like a “house” by specifying what their cut of the winning is. For example, Unilot users will be able to easily setup their own private poker tournaments with push of a button and without needing to be tech savvy. This will allow players to generate their own income without having to setup any special equipment or go through all the headaches of white labeling and source code customization.
