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crypto casino rant in 30 seconds
streamers are fake betting, every streamer hitting 5000x wins every stream claiming raw deals. bloomberg article today hits on this but can't prove it. players collectively know something is fishy with streaming casino deals. and yes streamers are making 50% on affiliate player losses too.
anjouan license is fake - the govt has publicly said they have no idea who's issuing them. curacao isn't much better, trying to fix legitimacy issues but both are worthless rubber stamps.
provably fair is mostly a scam. there are some exceptions that actually implement true provably fair but most casinos slap the label on and have no idea what it means.
casinos will find any excuse not to pay you out if you win big. kyc, vpn, multi accounts - pick your poison. some smarter ones know they have to pay or it becomes a PR nightmare at scale. but all are selectively using this trick, just some more than others.
blockchain casinos are mostly a scam so far. the ux isn't good enough, and the one that kind of executed decent UX turned out to be sketchy scam. mainly used as marketing right now, a way to hide the grift under a technical hood. even more concerning because it feeds off the technical incompetence of players.
casino review sites all get paid 50% of player losses through affiliate deals. there's no truth out there on what's good and what's not. highest paying casino gets pushed regardless of quality.
show me the incentives and i'll show you the outcome.
combine it all together and you have a shitshow of an industry. even if you wanted to be a fair operator running a fair casino you can't compete with all of the above. the loop ensures it - biz model relies on every element. player acquisition from streamers and review sites, small house edges so you either rig games or don't pay out players at every opportunity.
someone has to start calling it what it is