You may not have ever heard the term before but “provably fair” casinos are becoming more interesting to online gamers. Let’s face it, online players can be skeptical about getting ripped off at an online casino. This is reasonable since it is theoretically very easy for an online casino to make sure you lose. But, the Bitcoin community, yes, the same community that loosened the noose from online banking, has a solution, “Provably fair”. Provably fair is a tool that enables you to verify each result and make sure you are not being cheated!
Although there are several executions of the provably fair method, the most common one is calculated by the following variables: Serverseed - provided by the gambling site, Clientseed, provided by your browser and adjusted by you, and Nonce, a number that increases with each bet you make. Provably fair is best described as an algorithm which can be analyzed and verified for fairness on the part of the service operator.
Most simply put, you would place bets on games offered by the service operator. The service operator will publish a method for verifying each transaction in the game. Once a game has been played, you can use these algorithms to test the game's response. This process would eliminate the need for third-party verification and auditing.
