DeFi Gambling

At more than $270 billion, the global gambling industry is one of the largest. The online betting industry takes up about $60 billion, with gamblers interacting on different online platforms. One of the main drivers for growth in this sector is the quick uptake of emerging technologies. Although crypto appeared like a joke, in the beginning, gamblers didn’t give a second thought about trying it out. Bitcoin casinos like Cloudbet started operating as early as 2013 when traditional investors still felt crypto was going nowhere. DeFi is just coming in, and the impact is already overwhelming. It has received fast acceptance among bettors, yet this is just the onset. On the other hand, developers are leaving no stone unturned when it comes to delivering unique products with a natural solution for the bettors. We brought you a quick analysis of DeFi gambling. Read with us.

DeFi Gambling dappGambl
DeFi Gambling dappGambl

What is DeFi Gambling?

Education about DeFi and the cryptocurrency sector, in general, is still low among the masses. Developers focus on coding and put almost zero effort into teaching ordinary investors about their products.

DeFi’s primary goal is to bring financial services to everyone without restrictions. Banking is a core part of it, as it even seeks to replace traditional banking. Users own DeFi accounts that serve all banking functions like conventional bank accounts. The difference is that DeFi accounts can be opened in minutes and anonymously. They are also non-regulated and give the user up to 100% control of funds. DeFi users can save, invest, and take loans just like traditional banking. The difference; DeFi is decentralized, fast, and more efficient.

Blockchain-built applications (dApps) such as Compound and DAO connect lenders and borrowers peer-to-peer. This means that anyone can lend and earn interest or borrow. The products available are way superior to the standard saving accounts when it comes to saving. DeFi users earn high interest in their saving accounts since no third parties and monopolies exploit them. Gambling utilizes DeFi just like casinos have bank accounts. Therefore gambling is the tip of the horn in DeFi. Of course, there are numerous unique DeFi-built gaming and gambling products, but they still make a drop in the ocean of the entire decentralized finance industry.

How DeFi Matters to Crypto Gamblers?

Crypto gamblers have been the most disadvantaged. Some governments like China have banned banks from dealing in crypto. With DeFi, crypto gamblers are at liberty to transact and move any amount of money with zero limitations. When it comes to betting, DeFi has introduced new levels of fairness. It’s hosted on the blockchain and runs without external third-party interventions. Blockchain technology is immutable, transparent, and safe, creating a sterile gambling environment with limited fraud and gameplay manipulation risks. A trustless gambling ecosystem is what DeFi brings. Let’s not forget the volatility risk that crypto gamblers face.

Digital coins are hardly stable. Players would be forced to take in huge losses whenever their portfolio tanked. DeFi gives them an alternative to hold their funds in staking or liquidy pools and earn interest which could cover losses if prices plummet. On the other hand, they gain even higher profits if prices remain stable. Players can also hold their funds in stable coins such as USDT and swap between different cryptocurrencies instantly at meagre fees. Anyone who has interacted with products like Augur will agree that innovation is perhaps the biggest reward of DeFi to crypto gamblers. Augur promises to lead bettors to a risk-free gambling future. Imagine a wagering platform that refunds your stake when you don’t win?

Popular Defi Gambling Websites
  1. Summary

    We’ve not found the right words to describe this hot casino, but we can’t delay this review any further. Let’s call it the ‘Las Vegas’ of DeFi. Built on the Binance Smart Chain (BSC) network, HunnyPlay aims to be the most engaging and innovative gaming and gambling platform. The site is developing into what we can describe as an unparalleled ecosystem for the DeFi community. For gamblers, this means top-notch security and fast payments.

    Accepted Currencies
    BNB-icon TETHER-icon
    Main Features
    • 24/7 Support
    • Fast Payments
    Blockchain tron logo
    Customer Support
    Email Live chat
  2. Recommended by our Experts
    BC.Game Casino BC.Game Casino Review
    • Personalised bonus offer
    • Provably Fair Games
    • Low House Edge

    BC.Game casino website will immediately catch your interest because it has a wheel of fortune that offers daily prizes of up to 1 BTC. Exceptional deposit and no deposit bonuses are the crown jewel of its promotions. Additionally, it offers several excellent casino games, including ones whose fairness can be verified. In this review, we shall go over the Games, Bonuses, and Promos provided by the casino.

    Accepted Currencies
    bch-icon bitcoin-icon dogecoin-icon eos-icon ethereum-icon litecoin-icon tether-icon tron-icon usdc-icon xrp-icon ada-icon dot-icon bnb-icon zcash-icon monero-icon xlm-icon
    Main Features
    • Personalised bonus offer
    • Provably Fair Games
    • Low House Edge
    Blockchain tron logo
    Customer Support
    Email Live chat
    Curaçao (CGCB)

Types of DeFi Gambling

As already mentioned, DeFi is wide. There are different types of gambling in it, ranging from crypto casinos, sports betting and poker to new and unique gambling products like yield farms.

DeFi Sports Betting

DeFi sports betting is facilitated by blockchain technology. It employs intelligent contracts to eliminate third-party bookmakers. Bettors lock in their wagers, and the intelligent contracts automatically validate results and pay the winner. Players connect a Web3 wallet to the betting platform to fund their accounts before placing bets. Winnings are automatically sent back to the gambler’s Web3 wallet. and are perfect examples of gambling platforms for DeFi sports betting. With LunaFi, anyone can become the house.

DeFi Poker

You’ll never go back to classic poker once you interact with DeFi gambling dApps. The former is always tagged with a huge house edge and unattractive return to player percentages. Decentralized poker wins because it takes away power from the house by distributing profits fairly among key participants. Platforms like Coinpoker give players a 15% profit share directly and distribute additional amounts through bonuses and promos. There is also increased transparency and privacy with this kind of gambling.

DeFi Slots

DeFi slots allow players to participate in profit sharing of the house. Gamblers purchase NFTs representing ownership, and these grant them automatic rights to earn passive income whenever the casino distributes profits. Players can re-invest these profits, stake them or channel the funds towards liquidity pools to make more profits.

Yield Farms

Yield farming is a method of maximizing crypto gains in DeFi. There’s stable and degen yield farming. Stable yield farming is more of an investment with calculated risks and low returns. Degen yield farming, on the other hand, is pure gambling, a zero-sum game where you either win big or nuke your funds. They start as hyped-up projects paying investors as high as 3% per hour and end up attracting massive funds. Normally investors put their money in the platform’s native token, whose prices rapidly rise. Early investors can rake in 100x within days to weeks and start selling their tokens to cash in profits. This causes prices to stop moving up. A panic wave hits the later investors, causing them to sell all their tokens\ and eventually, the price goes to almost zero. The word “degen” comes from degenerates, and that’s because these products are like a rising hot air balloon. They must burst at a high altitude. Degen products hardly have a real project backing them. They thrive on hype and operate as pump and dump. This is the riskiest form of DeFi crypto gambling.

How DeFi Will Change Gambling?

The introduction of blockchain into gambling is a sure bet for transparency. This is a step ahead in creating a safe and trustless betting industry. Decentralization dethrones greedy operators by introducing fair profit sharing for all. But the biggest impact of DeFi to gambling will be improved user experience and new innovations. DeFi is constantly evolving, and programmers are finding new methods to incorporate additional benefits for players to maximize their returns. For example, BetDemand gives out rewards to winning sports bettors without anyone losing. Gamblers whose bets turned out wrongly get a refund of their money with staking interest. So, in the end, everyone is a winner.

Chipz, an Ethereum-based platform, is another innovative DeFi product riding on blockchain technology to give bettors a unique gambling experience. It offers them a one-stop platform to bet on any random occurrence, including sports, politics, and entertainment. Users can also become bookmakers by creating their own sport and allowing bettors to participate and earn staking fees. All of these are possible through the power of smart contracts, and there are no third parties or regulatory authorities involved.


DeFi gambling is set to keep growing. The crypto community seems to be backing it strongly due to the numerous benefits. Risk-free gambling with zero losers, lower betting fees, staking, and yield farming are just a few benefits of DeFi gambling. The flip side is that the lack of regulation leaves room for uncontrolled hype. This has led to the rise of risky investments such as degen farms. It’s undeniable that DeFi is exciting. Like traditional gambling, a rule of the thumb is to only direct a portion of your risk capital towards DeFi gambling.

Eugene Abungana
Written by Eugene Abungana verified symbol Investment Analyst, Financial Analyst, and Institutional Trader
167 Articles

Eugene is a crypto and iGaming writer, with a passion for sharing the latest trends and developments in the industry. His fascination with cryptocurrency started in 2014 when he first discovered Bitcoin. He has since expanded his knowledge and experience through education, trading, gaming, and working with different experts. My goal is to offer unbiased and accurate information while promoting ethical and responsible gambling practices.

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Reviewed and Fact Checked by Vlad Hategan , NFT Gaming Specialist