Bitcoin Forum

I just published a new blog post on how Bitcoin is changing online gambling (https://thebitcoinstrip.com/blog/how-bitcoin-is-changing-online-gambling.html) and it got me thinking: will Bitcoin casinos overtake regular casinos in the future?

With Bitcoin on the rise (over $650/BTC now!) and at least 3 BTC being wagered per minute across crypto-casinos (that's about $3 million per day) and the countless benefits that cryptography brings to gambling, I think it will. Bitcoin is the perfect companion for online gambling, bringing instant transactions and trustless fairness to an industry where the norm is slow deposits/withdrawals and offshore shady companies.

What do you guys think?

I think it depends on the gambling market. Gambling is not able to experience rapid growth when there is no demand from gamblers, because that makes them successful and are successful because of the growing number of gambler. I think, if the price is higher then the bitcoin gambling can ride. But will experience a problem in security

Well it depends, but it is more probably to happen like that, due to being anonymous of gamblers. If all gamblers will know about the provably fair of online casinos, it will really boom!

I think it's a great possibility since you can stay anonymous and there is a less hassle for someone to register and play using bitcoins.

I think this will not happen. The main reason being that gambling casinos generate a lot of revenue for the government through taxes and all. So it will be such that a lot of governments or states will rather start allowing casinos to register and be regulated.

Of course it is possible, but not in 4 years. I think it can take 10 - 15 years to dominate gambling industry by Bitcoin.

If it does not happen in 4 years from now, it will be stagnant or stable already. IMO, the state of bitcoin casinos 4 years from now will be it. Will not have big change after that.

I think the casinos are already more popular than a fiat only casino. I only use fiat site for sports betting.

I haven't seen this type of data before, 3 BTC per minute is huge considering bitcoin casinos have only started few years ago compared to fiat which exist from decades and centuries. I also think bitcoin will be good option for gamblers and one another field for bitcoin could be sex industry including sextoys, adult materials etc. Paying anonymously will be key feature of bitcoin over credit card payments in this sectors.

this is could be happen but still need more time to realized and might be the cause people started to liking casinos online because Unlike physical casino with bitcoin you no need to leave your house to do a gambling and you could start it anywhere

You can view the data here: https://thebitcoinstrip.com/stats/2015-06-30-to-2016-06-28. At that only includes the casinos which I crawl -- so it's an absolute bare minimum. :P

There is a chance that this happen because the future of the bitcoin is very good and more users are gambling everyday with it.
The gambling section from the bitcoin got a very good future!

you are right, but you can see the impact of bitcoin for gambling, you can see so many gamblers newcomers carried by bitcoin.
so in the future is probably bitcoin will overtake regular casino. also depends adopters bitcoin in the future, if more and more the more also are trying to gambling

no. online gambling is a massive, massive industry. for that to happen bitcoin itself would have to be as big as usd or something. i think what it does do is bring in new customers who otherwise wouldn't be gambling and allows people in places where legit online gambling is banned to join in. that covers alot of countries.

Where did you get the $3 million per day, if I may ask? I do not think ALL Bitcoin gambling sites fall under the trustless fairness category at the moment. Some of the bigger regulated Casino's might,

but there are still some shady offshore companies making use of Bitcoin today. I have to agree with you on one point, and that is that micro payments will certainly make inroads into some of the

smaller 3rd world countries, where people have less money to gamble and even where it is forbidden.  ::)

I would love that to happen, bitcoin casinos to be more popular then regular one`s, and its going to happen one day for sure, but not so fast. Cause of that my answer was "no". Bitcoin need to grow much more, and there is many people who didn`t even heard for btc yet. So its too soon in my opinion, I`m not saying its impossible, I`m just saying its hard for btc to achieve that much in just next 4 years. For big things time need to pass, to some things get better shape. Now btc gambling have an expansion, and I`m sure that big explosion didn't happened yet.

If I can make some prediction about it, we will need at least 10 more years to come close to other currencies. Of course its just my opinion, dollar is everywhere, and well established. People have habits and trust with some casinos, so btc will need to grow much more and to keep up with this good tempo for a long time.

https://thebitcoinstrip.com/stats/2016-05-01-to-2016-05-31 And that only includes the casinos which I crawl -- so it's an absolute bare minimum.

No. Most of the casinos will just add Bitcoin as payment option and they will operate without probably fair, instant payouts without using Bitcoin advantages.

Bitcoin made the gambling easier and faster than before , also when you gamble with Bitcoin , you will be anonimous , this is the answer if we asked why people like Bitcoin , and for that the Bitcoin casinos number increases every day , Bitcoin will be more popular not in gambling only , but in all other services , like trading and buy goods and online payment...

i think it will not happen,i know bitcoin casino only on internet,and bitcoin only can used for online gambling,i never see people use bitcoin inreal life gambling,its complicated. and i think reguler online casino have real casino (offline casino).

This is a definite yes for me. The amount of effort it takes for one to start gambling is so minimal that perhaps a child can do it. Withdrawals and deposits are nearly instantaneous and the simple game aspects, (pick a payout and bet amount and click roll) is very appealing to many, and most do not even require any forms of identification.

Offshore doesn't mean shady.
Anyways yes I do think bitcoin gambling by 2020 and the reason is simply because its easier. Btw you write very well.

I think for now in my country its not anonymous we are giving our real identity for security reason and for laws and regulations in my country.. so i think in the future gambling here will reduce and will be decreases.. because of this regulation and laws..
So i think bitcoin gambling casino will not be popular in the future than regular casino..

I think it is already happening. Bitcoin gambling is much more attractive for so many reason most important anonymous and instant transfers, I doubt fiat casinos will be able to keep up. Bitcoin gambling, It's just better.

If we talk about real casino, so it will be hard. First because gambling is illegal in most countries and second is because there is no physical thing of bitcoin but it can be created with a coin like on other real casinos.
The main problem of bitcoin is the fluctuative price that may make the casinos need to always adjust the chip/coin's value based on the up to date bitcoin price. And for gambler, they need to think twice because once they start gamble with bitcoin they also need to think about its price which may fall down anytime.

Yep. And gambling at regular online casinos is restricted in a lot of countries.

I think its possible this to happen. There is more BTC casinos each year, and for 4 years we can expect even more BTC casinos, and we can expect regular casinos to start accept deposits in BTC. Some countries forbid gambling sites, and there is a law about it in many countries, BTC doesn`t have borders. I said its possible for BTC casinos to be more popular, but its like 50 % chances for that to happen until 2020.
For that to happen BTC needs much bigger adoption, and much more people should join and start using BTC as any other currency. That would be great to happen, for sure that will have impact on price. Many people doesn`t like gambling and casinos, but look at Las Vegas. They build a town on casinos, now everything works there. Gambling is a good promotion for BTC in my opinion, and that will attract masses.