The Casino Industry Needs Innovation
Venice, Italy — 1638: With the stroke of a quill dipped in ink, the first modern casino entered the world via the Palazzo Dandolo, or more specifically its Ridotto wing. Literally called “The Private Room,” it was here that the common Venetian first became acquainted with the levity and euphoria of lottery and card-based gaming.
Fast forward four hundred years, and little has changed; yes, casinos now exist across the globe, and on the internet as well, but the practice itself has seen little to no innovation. In fact, if anything, the state of gaming has suffered, not gotten better. Corporate game makers now contaminate gaming with tricks and gimmicks meant to bend fortune in their favor and unfairly separate patrons from their funds. With opaque winning odds, exploitation abounds, and so the weary steer clear of gaming altogether, associating it with shady business practices, if not outright scamming.
The situation has never been more dire, which is exactly why the industry is in need of a new start, a second Ridotto, from which gaming can be reimagined to more purely recapture its original allure.
Bringing Full Transparency to Classic Games
Ridotto’s flagship casino product will revolutionize the casino industry by replacing centralized greed, and intentional ambiguity with transparency, fairness, decentralization, and user anonymity.
From a games perspective, this means that Ridotto will utilize the blockchain to bring the user much-needed peace of mind. Through Charli3’s verified randomness and openly available game metric data, the community will have complete assurance that the odds are not, in fact, stacked against them. Ridotto’s backend algorithm will be public for all games the community knows and loves, including Blackjack, Poker, Slots, Roulette, Craps, Baccarat, Bingo, and all manner of different lotteries.
A Casino Fit for Web 3.0: Liberated and Deconstructed Gaming
By having available real-time game metric data, such as win/loss ratios, Ridotto will be free to innovate casino games beyond traditionally held notions of what it means to gamble.
Gaming is defined as “the practice of risking money or other stakes in a game or bet to achieve a desired result.”
Traditionally, this has limited gaming to games with universally known and verifiable risk probabilities. For instance, classic card games are pretty much synonymous with gaming, not only because they are fun, but because they are grounded in the verified randomness that comes from standard card deck statistical probability. In other words, because everyone knows the probability of drawing an Ace or any other card when they play Blackjack, the game has the needed internal structure to facilitate gaming.
The magic of Ridotto is that its verifiable metrics enable Ridotto to totally reimagine casino gaming, and offer all manner of unheard of gamified risks. Instead of limiting casino games to relying on card deck probability, Ridotto can branch out into a brand new sector of gaming that combines challenge with risk and reward. Any pay-to-play game in which most users lose — due to a combination of luck and skill — will qualify as a Ridotto casino game.
For instance, imagine an intensely challenging Angry Birds style game in which only 40% of users win and earn funds, while 60% lose — for simplicity at the exact same rate. This game would be able to offer 20% APY to liquidity providers, and thereby incentive their bankrolling of the game, while simultaneously rewarding successful users with a generous payday.
NFT Based and DeFi Casino Games
Ridotto believes that a decentralized casino can only really be considered decentralized if it fully embraces the technology at all levels of its protocol. This means integrating both competitive NFT & DeFi based games.
This may seem purposefully vague, but for now only a tease can be offered. More information on specific games will be rolled out as their pieces come more fully together.
Ridotto’s Decentralized Liquidity Pools Enable a Community Bankrolled Casino
Speaking of liquidity providers, in stark contrast to every other casino, in which profits are enjoyed by the few, Ridotto is a genuinely decentralized, community-driven protocol. 100% of generated revenue will go straight to Ridotto’s community of liquidity providers. Importantly, the distribution will include all cryptocurrencies gambled on the platform, not just the RDT token.
In order to give bankrollers as much agency as possible, they will have access to many different pools, indexed by risk and reward.
The many liquidity pools can be generalized into five categories, relating to their game type:
- Croupier games, or games managed by a dealer like Poker and Blackjack
- No Loss Lottery
From most rewarding to least, the more risk bankrollers assume in funding Ridotto casino games, the more rewards they will potentially earn. Whether through transaction fees or through the “House’s Edge,” all gains go to the community of liquidity providers.
In order to maximize the amount of funds available to the platform, users will be able to bankroll the casino through the Ridotto platform, as well as through several key partners such as wallets and decentralized exchanges.
Ridotto is the very first cross-chain gaming and lottery protocol based on complete transparency, anonymity, security, and fairness. Built on Cardano, our approach is to provide an open protocol driven by the community, where users can play, build, and even bankroll casino games, thus earning generous liquidity. Ridotto’s overarching goal is to elevate the user to the role of “house,” thereby offering a fully scalable alternative to centralized online gaming.
Beyond our vibrant flagship casino, we will unleash retail ingenuity by giving users the decentralized infrastructure to experiment and evolve the gaming ecosystem, much like the App Store did for mobile gaming.