🎲🎲🎲GAMBLICA - blockchain per gambling platform

Introduction

Modern trends, the development of the entertainment industry, income growth in
developing countries, and mass mobile device adoption have a positive efect on
the gambling industry, both traditional and online.

The global gambling and betting market is currently experiencing rapid growth.
The gambling industry grew at a CAGR of 9% over the past seven years, which is 3
times faster than the global GDP.

The industry shows such an impressive growth rate mostly thanks to the
development of information technology.
The growth of the Internet allowed
hundreds of millions of people worldwide to play casino games and place bets on
their favorite sports teams without having to leave their homes. The evolution of
mobile devices gave people the freedom to play from virtually anywhere they can
get an internet connection. The spread of new technologies and the development
of super-fast mobile broadband led to the evolution of the online gambling
industry, in particular the online casino and sports betting market.

These high growth rates can be explained by the advantages online gambling
business has over traditional one. Online casinos and sports betting sites have
much lower operating and transaction costs than traditional gambling
establishments. Running an online gambling business means gaining access to
audiences worldwide, which is a simple and cost-efective way to attract new
clients.

Despite the positive outlook, the online gambling industry is facing several
problems, which hinder the development of the market. One of them is fraudulent
behavior by some operators, which undermines the credibility of the entire market.

Players are afraid of fraud on the part of online gaming platforms: such as hacked
or inappropriate random number generators; and this, to a large extent, causes a
slow-down in the market's user growth.

Another problem worth mentioning is the
risk of having one's account blocked afer winning a jackpot and the subsequent
withdrawal of funds. Many countries restrict online gambling, so banks there have
the right to block the player's account and confscate the winnings afer the
transfer.

Common Issues in the Online
Gambling Industry

Despite the impressive growth of the online gambling market, allowing users to
play casino and bet online, and the rapid growth of its revenue, the entire industry
is facing a great number of problems that are critical when choosing a game
operator.

One of them is fraudulent behavior by some operators, which undermines the
credibility of the whole market. This, in turn, makes it difcult for new players to
enter the market because of the complex and expensive process of building good a
reputation - the most important asset in the online gambling market.

Both sports bettors and gamblers are afraid of fraud on the part of online gaming
platforms: such as rigged random number generators, account blocking or
problems with receiving payouts. These factors are disruptive for the ecology of
the industry and cause a slow-down in its user growth. Many countries restrict
online gambling and betting due to regulatory and tax-related issues, so banks
there retain the right to block the player's account and confscate the winnings
afer the transfer.

The problems of credibility and information asymmetry hinder the process of
scaling and make entering foreign markets very difcult for online casinos.

Promoting the brand that does not have any track record or international
recognition requires huge investments to compete with well-known online
gambling operators.

Processing international payments is also very important for an online casino
business, which is associated with a lot of bureaucratic, tax and transaction costs.

All these trends hinder the development of the online casino industry and makes

the overseas expansion more difcult for online gaming operators.

Challenges for Gamblers and Sports Bettors

• Players cannot verify the RNG algorithm of an online casino game or that of 
cards distribution in the poker room
Players cannot verify whether the distribution of the prize fund is correct and 
fair/the distribution of cards to the poker players is random.

• Online gambling operators do not guarantee the player's account would not be 
blocked
The operator can terminate the player's account and freeze the funds at their 
sole discretion. In case of an unfair decision, the player's rights are not 
protected since there is no supervisory authority. Online casino operators usually 
buy their licenses in developing countries.

• Problems while making deposits and withdrawals
Transferring funds to the player's account can ofen take up to several days. 
Besides, the available methods are costly and involve additional fees and 
commissions caused by an insufcient level of the fnancial system globalization 
in the feld of small international payments.

• Poor personal data protection
If the server of an online casino/betting site gets hacked, it can lead to loss the 
loss of such personal data as client credit card numbers and other sensitive 
information, which can result in additional costs and threaten the credibility of 

the entire industry.

Challenges for Online Casino Operators

• A lack of trust in a platform caused by its poor reputation
The problems of credibility and information asymmetry hinder the process of 
scaling and make attracting new international clients very difcult for online 
casinos. Promoting the brand that has no track record or international 
recognition requires huge investments to compete with well-known online 
gambling operators. 

• High transaction costs and inefciency of international payments
Serving overseas clients may be complicated by transaction costs associated 
with the specifc features of the player's country banking system, commissions, 
fees, and time frames for international money transfers.

• The complexity of scaling a business and expanding into new markets
Product localization and the process of entering a new market involve costs 
related to adapting services to comply with local legislation, the red tape of 

setting up a legal entity, and procedures for processing fnancial transaction.

Market Overview

The global gambling market is currently experiencing rapid growth. According 
to the PricewaterhouseCoopers survey, the gambling industry grew at a CAGR of 

9% over the past seven years, which is 3 times faster than the global GDP.

Global gambling industry revenues are growing rapidly, 

totaling $ 217 billion, according to the PwC estimate.

       Global gambling industry revenue (US$ bn.)

          Source: PricewaterhouseCoopers LLP, Wilkofsky Gruen AssociatesSource:

This trend is expected to continue until 2021, which is supported by such global 
trends as the development and penetration of new information technologies, 
economic growth in developing countries, the rise in real income, the easing of 
online gambling and betting regulations in a number of countries.

The growth of the Internet allowed hundreds of millions of people worldwide 
to play casino games, place bets on their favourite sports teams, and play 
poker without having to leave their homes. The evolution of mobile devices 
gave people the freedom to bet from virtually anywhere they can get an 

internet connection.

Gamblica Technology Overview

The main advantage of our casino is the transparency of random number 
generation system, which can assure players of the fairness of a game's outcome. 
A random number is calculated by the RSA cryptographic algorithm, based on one-
way hash functions. To generate a random number, several parameters are used as 
input data for the function. This multi-factor model is much more reliable than 
single-factor models used in similar projects, due to the increased security of the 

protocol against being compromised by the third party.

First RNG = F (Hash of the 6th block from the end, Hash of the GMBC player transaction input block)

Subsequent RNG = P (Hash of the 6th block from the end, Previous RNG)

Why Blockchain? 

Given the novelty of the technology, developing a blockchain project is not an easy 
task from a technical point of view. However, afer analyzing similar projects, we 
agreed that there was a need for a distributed ledger, acting as an external 
guarantor providing guarantees for the player. 

The fact that digital tokens will be used for all transactions within the platform is 
not going to be a problem for users – they will be able to convert fat money to 

tokens through the payment gateways integrated into the platform.

THE ECOSYSTEM WE ARE DEVELOPING RELIES HEAVILY ON TRUST AND INFORMATION SYMMETRY – 

ALL ITS PARTICIPANTS KNOW THAT EVERY CALCULATION IS FAIR.

FAST AND CHEAP
TRANSACTIONS
CRYPTOCURRENCY ELIMINATES THE RED TAPE, REDUCES THE FEES AND PROCESSING TIMES,
AND ENSURES HIGH LEVELS OF INTERNATIONAL LIQUIDITY
GLOBALIZATION
A BLOCKCHAIN-BASED SYSTEM IS UNIVERSAL AND IS IDEAL FOR ANY COUNTRY, SO THERE 
IS NO NEED IN MODIFYING THE PROGRAM FOR EVERY REGION OR IN ADOPTING 
SPECIFIC PAYMENT METHODS
TRANSPARENCY
THE USE OF A DECENTRALIZED SYSTEM ELIMINATES THE RISK OF FRAUD ON THE PART OF 
CASINOS, THE RISK FOR AN ACCOUNT GETTING BLOCKED, AND PROBLEMS 
WITH WITHDRAWING FUNDS
SCALABILITY BLOCKHAIN-BASED SYSTEMS HAVE NO BORDERS AND ARE SCALABLE. THE ONLY LIMITS 

ARE IMPOSED BY ETHEREUM TRANSACTION THROUGHPUT.

BLOCKCHAIN SIGNIFICANTLY REDUCES INFRASTRUCTURE COSTS

Project Advantages

Thanks to the integration of Blockchain technology into the operating model of an 
international online gambling operator, as well as to our considerable experience in 
the gambling industry, our platform has a number of advantages, helping to 
address such issues as the lack of credibility and information asymmetry, enables 
players worldwide to bet with no fear of having their account blocked or being 

prosecuted by tax authorities.

Why choose Gamblica?

• No fnancial borders or hidden transaction fees
The use of cryptocurrency for transactions within the system and the 
integration of the internal token minimizes time spent on bureaucratic 
procedures, reduces the fees and processing times for transferring funds to the 
client's account, ensures high levels of liquidity, and enables the operator to 
transfer money worldwide 

• Excellent management
The team of experienced professionals with outstanding track record in 
managing real traditional gambling projects. A combination of experience and 
skills results in efective management. 

• Decentralized system, guaranteed payouts
The use of a decentralized system eliminates the risk for an account getting 
blocked and funds frozen, and reduces processing times of withdrawal 
requests. 

• The ability to check the fairness of the casino and verify the next played card
The openness of blockchain and the publicity of its transactions allows the 
creation of a system in which each player can verify the fairness of the platform. 

• Scalability and potential to attract new customers
Online casinos allow to attract more players with no extra costs while 
blockchain gives the freedom to develop without borders and accept payments 
worldwide. The only limits are imposed by Ethereum Transaction Throughput. 

• Users can bet with no minimum frst game deposit and have the option of 
testing the system
Thanks to the use of in-game tokens and reduced transaction costs, users can 
make a deposit with no minimum deposit, which helps to attract wider audience 
and provide players from anywhere in the world with the opportunity to place a 
bet on the platform. (A total of 1.6 billion people gambling at some point 

during any given year).

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AUTHOR :Alfian2015