DAO.casino is a protocol defining interactions between untrusted participants in the context of online gambling industry. This includes two levels: game level - player’s trust in a particular casino operator in the context of the game (provably fair gambling) and a business model level: i.e. game developer doesn’t have to trust casino operator to get rewarded. In short: all participants that are needed for the system to function don’t have to trust each other in order to cooperate.
Online gambling takes 10% of total legal turnover in the world gambling business , while the trusted third party - online casinos - remain a black box for players and the market remains hard to enter for the game developers. "We propose a decentralised public system for gambling industry - DAO.Casino. DAO.Casino consists of a) an automated value distribution protocol acting as an mechanism of incentives and expressed in a system of Ethereum contracts b) a system that is capable of providing equally unpredictable pseudorandom numbers for the games. We show how applying cryptoeconomics and implementing such system on Ethereum can solve some common issues in traditional online gambling industry through removing the need of trust ( i.e. automating crucial elements of online gambling industry that usually require trust reduce a risk of fraud and enable a new more sustainable business model to evolve), and also can minimise overheads for casino operators which allows higher payouts for the players and game developers to monetise their work. Auditability and cryptographic verifiability of Ethereum powered software potentially makes certification process for gambling games easier."