We’re living in the world of crypto, and with that comes newer forms of entertainment and new ways to spend. We grew up in the era of cryptocurrency being solely used in the financial sector, but it’s pretty evident that this global currency is now widely adopted everywhere, and there are many, many coins available! And one phenomenon that is taking over the entertainment scene is cryptocurrency casinos.
If you’re an OG casino goer, but are new to the world of crypto casinos, there isn’t much difference other than the fact that there are different payouts and you’ll be using a different currency. It’s always worth checking out price caps and things before you jump in… but let’s look at the myths that tend to surround this area.
If you have ever spun a slot machine online or placed a bet, then you’ll be well-versed in the many questionable statements that are thrown around the web. Some may promise that “hot” slots are seconds away from paying out huge wins, while others are saying that provably fair games are guaranteed wins – spoiler alert, do not always listen to them.
Yes, there are certain tactics that you can pick up along the way to secure more chances at winning, but there definitely aren’t any tells that will see you through to guaranteed success. If there was, then where would all the fun be?
There are tons of myths about crypto casinos, and listening to the wrong ones can damage your overall strategy – so let’s cut down all the noise, and see what’s actually true and what’s just hopeful thinking. Ready to spend your crypto wisely? Read on.
Myth #1 – Provably fair means guaranteed wins
Let’s start with the biggest one we’ve heard thrown about in the recent times. We do agree that provably fair games mean guaranteed transparency, but that does not mean guaranteed win.
Let’s discuss.
Provably fair technology lets you verify your game results and double-check that they were not tampered with. For instance, if you were playing on the crypto slots or blackjack tables, then there are ways for newer casinos to track every move in the backend of the servers. They use cryptographic hashing to guarantee fairness, so neither the casino nor the player can alter the result. When you’re spinning on crypto slots, therefore, you know that nothing is affecting the odds, and you can guarantee that – a nice feeling, for sure!
However, fair does not mean favorable: let’s get that straight. RNGs will still rule the overall game, meaning that every spin, roll, or card is based on pure luck.
🔍 The truth: Provably fair games are just there to give you as the player peace of mind. Not to guarantee that you will win.
Myth #2 – Higher volatility means better payouts
Potentially.
If you’re a player who runs after the high volatility slots, then you may be convinced that you’re more likely to get bigger payouts. This is partially true, as these games can offer bigger wins, but they also provide long dry spells.
Volatility is known as variance, and it refers to how often a game pays out and how large those wins may be.
High volatility slots = rare but big payouts.
Low volatility slots = frequent but smaller wins.
Neither of these two outcomes is better than the other; it all whittles down to your individual bankroll, and whether you play the long game or the short one.
If you are a player who is in it for the long run and can hold on to get the results, then yes, high volatility may be for you. But if you’re a gamer who needs action now and cannot wait, low volatility is the option you should go for.
🔍 The truth: High volatility doesn’t mean better; it just means bigger risks coupled with chances for larger rewards. You have to think about what your end goal is and if it’s worth hanging on for the long haul.
Myth #3: You should keep chasing a win that’s due
First, no win is “due” to any player – it’s all based on luck.
The idea that you should chase a win is based on a classic gambler’s fallacy, as some gamers think that if a specific machine hasn’t paid out in a while, then it’s due a win.
This could be somewhat true in the older days if you look at the physical slot machines, but we now live in a world of technological advances. Today, machines online are all using RNGs, and every single spin that you take is completely independent of one another.
Games such as slots, roulette, and many other RNG-based games do not have a memory, so don’t know what their last output was. Even if a jackpot hasn’t happened in a few hours, it doesn’t mean that it will pay out soon. It’s always a fresh start, with a fresh spin.
On the plus side, this is highly rewarding and exciting. Even if you have just won big on the online slots, there’s a chance that it can still keep happening. And that’s exactly where the joy of chasing the win truly comes alive.
🔍 The truth: In summary, there is no such thing as a win that is deserved or “due.” No game owes its player anything, and it doesn’t matter how long you have been playing.
See? It really isn’t that deep and myths are myths for a reason. The world of the casino is fun solely because you don’t know what’s next! Here’s to continually chasing the wins and ignoring the myths for the foreseeable future.