Metaverse Casinos – Metaverse Gambling in 2023
Nowadays, companies like Meta, Decentraland, and even Microsoft are looking to take over the relatively new virtual space known as the metaverse. Online casino operators are also looking to be part of this new world – and so, in this article, we list the best metaverse casinos in 2023 and explore what the metaverse is in more detail.
- What Is the Metaverse?
- What Are Metaverse Casinos?
- How Do Metaverse Casinos Work?
- Top 5 Benefits of Metaverse Casinos
- Metaverse Casinos vs. Traditional Online Casinos
- Metaverse Casinos vs VR Casinos
- Decentraland Casinos
- VRChat: The Most Popular Metaverse Online?
- Other Metaverse Casinos Currently Available or in Development
- An Overview of Ongoing Metaverse Casino Projects 2023
- Types of Casinos in the Metaverse
- Summary: The Future of Metaverse Casinos
- Best Metaverse Casinos FAQs
What Is the Metaverse?
First of all: there is no such thing as the metaverse, as there are several competing designs. As for the word itself, which has become a bit of a in tech, business and finance, it has a fuzzy definition that may depend on the ambitions of people using it.
The term ‘metaverse' was coined by Neal Stephenson in his dystopian sci-fi 1992 novel Snow Crash. In his story, the Metaverse is a VR-world that works as a planet-wide market, with virtual ownership and interaction between avatars. Users in this world inhabit 3D avatars that can take the appearance of whatever their owner chooses and can use virtual currencies to buy virtual properties or items.
- Virtual (or augmented) reality
- Virtual ownership and currency
- Interaction with other avatars
Most concepts for metaverses see it as a graphically-rich space, which could be a place to play games, have meetings, shop, socialise, exhibit art (NFTs?), or even go to a casino. The idea is to feel, to some degree, as if you were really there.
Of course, there are already smaller metaverses or spaces with similar functions; plenty of video games let you control an avatar in a virtual space and interact with other users.
The concept harkens back to 2004’s Second Life platform, and games like World of Warcraft or even Fortnite have plenty of these elements. Thus, the idea is not that revolutionary.
Still, venture capitalists such as Matthew Ball and tech giants such as Marc Zuckerberg think that the metaverse may be a new watershed moment, similar to the advent of the internet or smartphone technology. Some are even calling it Web 3.0.
While some companies – namely Meta and Microsoft – are looking to create their own metaverse, others are hoping for a more decentralised space, full of cryptocurrencies and NFTs. However, for any metaverse to be graphically appealing, it would need a lot of computing power, so it is not clear which servers would host a decentralised virtual world.
What Are Metaverse Casinos?
As the name implies, a metaverse casino is any casino you can access via the metaverse. You put on your 3D goggles or VR headset, choose an avatar, buy some virtual currency, and enter a virtual casino, where you can play slots, table games, and whatever a casino has to offer.
In the metaverse, you should be able to win real or virtual currency, and the experience should feel extremely similar to visiting a real casino – only you're playing at a decentralised casino on the blockchain instead.
Metaverse Gambling Options
While we do not know what gambling options will be available in the metaverse yet, it will probably be the full spectrum of games you could find at a regular or online casino. That include slots, some type of 3D live casino, table games like roulette or blackjack in VR, and even sports betting.
In fact, one of the biggest gambling companies in the world, Entain (the company behind brands like Coral, Ladbrokes, bwin, Sportingbet, Eurobet, among others) is now investing 100 million pounds in developing gambling apps with NFTs, VR, and augmented reality.
How Do Metaverse Casinos Work?
You can think of metaverse casinos as a combination of online gambling sites and brick-and-mortar casinos. As we mentioned previously, they provide the advantages and variety of online casinos in an alternative universe that users can inhabit using wearable virtual reality headsets.
As you might imagine, the best metaverse casinos require the use of innovative technologies, such as blockchain, artificial intelligence, 3D reconstruction, and AR & VR, thus resulting in an immersive and hyper-realistic gambling experience.
Hosts for such casinos – for example, Metaverse Casino Manager – not only offer support for dApps (decentralised applications), but also allow operators to host their own domain. The Metaverse Casino Manager also supports an advanced API that enables developers to create apps for a metaverse casino platform.
Instead of the casino owning the dApps created by developers, they're simply uploaded to the blockchain. As a result, dApps cannot be removed without approval from developers. This makes metaverse casinos unique in the sense that they can provide games built by other users.
What To Expect at Metaverse Casinos
When you sign up for an account at a metaverse casino, you use an avatar to explore a virtual world. Like this, you have the ability to move around and communicate with other such avatars, making for a highly realistic and interactive experience.
In general, metaverse casinos do not accept fiat currencies. Instead, like you would at the best Ethereum casinos, you will have to convert your fiat into one of the supported cryptocurrencies and deposit funds via a crypto wallet.
Top 5 Benefits of Metaverse Casinos
Metaverse casinos are popular because of their innovative features and benefits. Let's take a closer look at the top 5 benefits below.
1. Top-Notch Security
One of the main benefits of these innovative casinos is that they can offer an extremely high level of security. This is all due to the fact that data and transactions are stored on a decentralised ledger that can’t be tampered with.
While all transactions are visible on the blockchain, you don't have to disclose any personal information. This means you can remain essentially anonymous – or pseudonymous, if you want to be pedantic about it.
2. Immersive Gaming Experience
The metaverse provides a hyper-realistic online casino experience. Consequently, you will feel like you are in a real casino venue where you can interact with your environment in ways that are unheard of at traditional online casinos.
3. Win Crypto and NFTs
While playing casino games in the metaverse, you can win crypto and NFTs. These prizes hold real value and can be traded in the real world.
4. Lightning-Fast Transactions
A major benefit to playing at metaverse casinos is the fact that transactions are incredibly quick and efficient. Most transactions are processed in seconds, and the average cost is very low compared to traditional online casinos. This is all because there is no third party needed to verify or process transactions.
5. 100% Provably Fair Games
At traditional online casinos, the legitimacy of a casino and its games is verified by third parties. With metaverse casinos, legitimacy can be shown through the provably fair system. Built on the blockchain, provably fair games use cryptographic algorithms which guarantee that outcomes can’t be manipulated. These can then be independently verified by the user, meaning there’s no need for players to rely on third-party verifiers.
Metaverse Casinos vs. Traditional Online Casinos
While traditional online casinos do a great job at embodying and replicating land-based venues, metaverse casinos take this one step further by allowing players to literally inhabit a gambling space in the same way they would at these physical establishments.
As we touched upon above, this is achieved through virtual reality headsets and a whole lot of software, ultimately leading to a more immersive gaming experience!
Metaverse Casinos vs VR Casinos
A lot of people think that metaverse casinos and VR casinos are the same — but they're not. In fact, despite the similarities, they're quite different. For example, VR casinos simply offer games compatible with VR headsets.
On the other hand, metaverse casinos are dedicated to recreating entire casino venues in a digital space. This allows players to interact with each other and explore a virtual environment together.
Another difference between VR and metaverse casinos is that VR casinos do not allow users to create anything new. What does this mean, exactly?
Well, all games in VR casinos are created by someone else (the game developer). In contrast, at some metaverse casinos, players can create their own content (e.g. games) that they can launch in an existing metaverse like Decentraland or Sandbox.
When all is said and done, the only real similarity between VR and metaverse casinos is that both require a VR headset.
So far, the only real successful metaverse casino has been in Decentraland – a browser-based metaverse, launched in February 2021. It is run by its users via the non-profit Decentraland Foundation, which is set to have an entire casino district known as Vegas City. Although decentralised gambling still has a ways to go until mainstream adoption, let's take a look at what's in store:
In September 2021, Decentraland launched Decentral Games, which they used to power the first metaverse casino: ICE Poker. The latter was released in October of the same year, with its success having skyrocketed since then.
This free-to-play poker game now has around 6,000 users daily, and you may find 1,000 playing poker at any given moment. In just three months, the casino has raked in $7.5 million in cryptocurrencies, and is responsible for 30% of Decentraland’s daily users.
The Cryptocurrencies of Decentraland and ICE Poker
Ice Poker and Decentraland run on several crypto tokens:
- Ether (ETH), a well-known cryptocurrency
- ICE, the in-game currency of ICE Poker
- DG, a governance token that governs the Decentral Games treasury
- xDG, or staked DG, which represents ownership and voting rights in the Decentraland DAO
Decentraland runs on 4 major tokens: ETH, ICE, DG and xDG.
How ICE Poker Works
ICE Poker is certainly not your average poker room. To play here, you will need complete the following steps:
1. Connect Your Wallet
To start off with, you'll need install and connect the MetaMask wallet. This is powered bt the Ethereum blockchain, which also functions as a virtual (anonymous) ID, encrypted with a unique passphrase. In the case of ICE Poker and Decentraland, you can use Ethereum (ETH), Decentral Games (DG), Decentral Games (ICE), and Decentral Games Governance (xDG).
2. Get an ICE Wearable
To play at ICE Poker, you will need some clothes – no, you cannot play naked! You may choose between purchasing these clothes as NFTs or renting them. If you own any of these NFTs, you can even rent them out, allowing you to earn in the process.
3. Create a DCL Account
Create your Decentraland avatar and equip it with NFT wearables.
4. Play and Earn
Once you have your account and something to wear, it is time to start earning. You can earn ICE and DG in a number of ways:
- Check in daily and complete three challenges.
- Compete for daily leaderboards and win based on chip winnings.
- Delegate your NFT wearables to other players for a share of the revenue.
- Mint new NFT wearables to sell on the market place.
- Collect ultra-rare DG Diamond Hands wearables.
- Mine ICE to sell to other players (needed in order to mint rare NFT wearables).
- Score on the top of the monthly leaderboard to earn DG.
One of the pioneers in video and arcade games, Atari is moving forward to develop its own crypto casino in Vegas City, where players will be able to use exclusive video-game-related wearables, as well as win money.
The casino primarily offers a selection of table games and slots, like the ones that you can find at traditional online casinos. So, if you're looking to enjoy casino classics like poker, roulette, baccarat, blackjack, you should check out Atari’s gaming venue in Decentraland. When you visit the virtual casino venue, you can test your luck by facing ball-shaped robot dealers.
Other Casinos in Decentraland’s Vegas City
Atari and ICE Poker are not the only companies looking for a slice of Vegas City. This February, Kings Entertainment Group (owner of brands like LottoKings and WinTrillions), announced that it has purchased a URL and has acquired virtual real estate in Vegas City.
VRChat: The Most Popular Metaverse Online?
Released in 2020, VRChat was initially a social VR application that allowed users to create and share their own content in a virtual world. Since then, it has developed into something much bigger. Although VRChat doesn't call itself a metaverse platform, it does offer all of the best metaverse features.
Not only can you create an avatar and interact with people worldwide, but you can also build virtual worlds and invite people to them. Because of this, it has become known by many as the best metaverse online! And since you can meet up with other users within the platform and play games together (like Poker), it is by far one of the leading contenders in the burgeoning metaverse casino space.
Other Metaverse Casinos Currently Available or in Development
While Decentraland has taken the lead in terms of metaverse casinos, there are plenty of rivals looking to create their own virtual casino spaces.
If you're looking to bet on sports and casino games in the metaverse, you may want to consider SandVegas Casino. Created by SandVegas Casino Club, this metaverse casino is hosted in The Sandbox – one of the leading metaverse NFT projects. Not only can you play the latest and greatest slots and live casino games, but you can also place bets on popular sports and leagues.
There is also speculation that Metahero will have casinos as well, though there is not much available info yet.
An Overview of Ongoing Metaverse Casino Projects 2023
|ICE Poker||Decentraland||ice.decentral.games||ICE, ETH, DG, xDG|
Zamsino – A New Upcoming Metaverse Casino Project in 2023
Zamsino, one of the world's biggest iGaming portals, has announced its plans to build Zamsino Crypto Casino Metaverse. Set to launch in 2023, this upcoming blockchain-based virtual casino metaverse project is expected to change how token-based metaverse casinos work. Thanks to the in-game editor, it will be the first project of its kind to allow users to build and monetise their own slots and table games within the metaverse.
Built on the Ethereum blockchain, users will be able to use various cryptos for direct deposits. For example, the casino will support cryptocurrencies such as SOL, ESDC, WBTC, and, of course, ETH. All winnings from slots and table games will be paid in the native (TBA) token and then swapped immediately to ETH on the Uniswap cryptocurrency exchange. This will give users the option to then trade ETH for any of the other supported cryptocurrencies.
Types of Casinos in the Metaverse
While we have discussed the several new casino projects in various metaverses, it is definitely worth considering what types of metaverse casinos we can expect in the future.
Crypto Casinos in the Metaverse
Many of the existing metaverse casino projects are crypto casinos that run on their own native currencies, along with ETH, though exchanging your fiat currencies or BTC for them should not be a problem.
NFT Casinos in the Metaverse
For most people, NFTs and NFT casinos are a bit of a murky and poorly understood topic. However, in terms of the metaverse and its casinos, the most common use for an NFT is a type of ownership token, which will grant you some type of revenue share.
Decentralised casino games are gambling DAPPS (decentralised apps). It is not yet clear how this would relate to the metaverse, as while most casinos accept decentralised currencies, the apps and casinos are not decentralised – rather, they are run by the casino owners.
Licensed Casinos in the Metaverse
In our opinion, for metaverse gambling to truly take off, it would need to have licensed casinos. If in a few years having a VR or augmented reality headset becomes as commonplace as owning a smartphone is now, we can be sure that most established casino companies will either cash in on the trend and develop their own mini-metaverses, or obtain real estate in certain existing VR spaces.
Most likely, you will be able (or even obliged) to use regular fiat currencies while you play your favourite slots and table games in a virtual space.
Summary: The Future of Metaverse Casinos
As Microsoft and Meta rush to develop their own metaverses, smaller crypto/NFT projects are springing up. Whether these casino NFTs are a good investment is unclear at this point. In order for any casino (even a Bitcoin casino) not to be blocked in most jurisdictions, it will need proper licensing, and it is still not known under which authorities these casinos will operate.
What we do know, however, is that metaverse gambling is certainly going to be one of the hot topics for the next few years in the world of online gambling!
Best Metaverse Casinos FAQs
Yes- in fact, there are several metaverse casinos already being established. Some of these include Atari Casino, ICE Poker, Metahero Casino, and SandVegas Casino Club.
So far, there are few true metaverse gambling options. While ICE poker is available in Decentraland, it is not a true gambling or poker game. Players can win ICE tokens by scoring on the leaderboard, but there is no player-to-player cash transfer.
This is a murky issue. So far, there are no licensed metaverse gambling sites; however, real metaverse gambling is still a work in progress. We assume that the same rules that governing bodies (such as the UKGC, MGC or Curaçao) apply to regular online casinos will also apply to any metaverse casinos that wish to offer their games legally.
Crypto tokens such as ICE, ETH, DG, xDG, SAND or $HERO can be exchanged for fiat currencies on various exchanges. Of course, there may be licensed, real-money casinos in the future.
So far there are plans for metaverse casinos in Decentraland, Sandbox, and Metahero. However, we assume that in the future, licensed casinos will either buy real estate in popular metaverses or create their own mini ones. Major companies such as Entain and Kings Entertainment Group are investing heavily in metaverse concepts.