Bitcoin Forum

An idea came onto my mind, and it consists about a currency that is entirely dedicated onto gambling and also betting, I did not search through the web if there is actually a crypto that has done this. Gambling is a thing that the people love to do, whether if it is in the casino or online, but have you ever thought of a crypto that will serve as your main currency whether if it is in the casino or it is on online, I think this could also be beneficial for the gamblers as well, I wanna know about what you think of my idea, whether if it is a positive or negative opinion, I will still take it.

What would be the point?

I mean if you dedicate a coin to gambling where does it take its value from?
BTC has a value because of his capacity to transfer value between multiple person in an anonymous way.
If there is a currency made for gambling... And the only thing you can do with it is gambling... Then what? That means just play money ^^

It won't make any difference if we create a separate coin for gambling purpose,I think we have some tokens for certain gambling sites but it is not used much so people don't like this idea much,better use BTC anywhere will be my choice.

How it will be beneficial to gamblers ? Instead of any benefits, gamblers will get another head ache for converting their bitcoins or fiats into that new for-gambling-only altcoin. You sound just like altcoins are being created for no in-depth purposes and with any light idea too. Why we are having bitcoin ? It may help all human to have only one money. I guess, now you understand a gambling only money will not be wise idea.

You must have done that before having this discussion. There were 100s of coins and tokens based on gambling and casino. Edgeless is one quick example here. It is eth based token and their casio is using this token as a base money for all the gambling activities.

I don't know if that will work.

We all know that these cryptocurrencies has their values changed quickly because they are volatile and it depends on the demand of that certain crypto. That means if that crypto is just dedicated to gambling, it will be having a hard time to increase its price and I don't think people or gamblers will buy them as you can already use a lot of cryptos to gamble like Bitcoin, Ethereum and Doge. Also, these crypto currencies has their values, gamblers will want to earn more of these since they want to have a good amount of it to be sold in the future.

There was a coin a few years ago that I used to mine called Jackpot Coin. It was basically a regular coin like LTC but it had a unique feature where every few blocks there was a jackpot that kept growing and growing and eventually one lucky miner or pool would get the block reward, fees, and the jackpot. The jackpot was larger and larger if it took longer and longer to hit the winning block.

Another purpose of that coin was suppose to be that it would get used by casinos because it had almost free network blocks and fees. However long story short, the coin had a good period where it had a high price on Poloniex but then kept tanking and eventually went to 0 Sats and don't think any major casino used it.

And this is the same reason why a cryptocurrency devoted to gambling wouldn't really work since the value of the altcoin could fall in relation to BTC or USD and nobody would use it.

Well, you guys are definitely right, thanks for bringing out all of your insights and everything, thanks for clarifying my idea, thank you for taking this up in a polite way though ans I really do understand that if you are to build your own cryptocurrency entirely used for gambling then it would really turn out bad since a single currency cannot stand up to only one activity, thank you for enlightening me.

Never heard of this kind of crypto currency since most of the cryptos I am using in gambling sites are Bitcoin and Litecoin, sometimes Ethereum, Doge and others. I do hear other gambling sites releasing their own cryptos but I don't think they're sole purpose is gambling and I don't thimk they'd been used on that gambling site as well. It might work if there will be a huge number of people that will be investing on it and will be using it but I think that will be very hard to accomplish.

I never think that cryptocurrency will be used for gambling only because the function of cryptocurrency will bigger than just playing gambling. But we know that bitcoin, litecoin, dogecoin is the famous coin in the gambling games, and people like to use that coins as their bets. I think there are one or more coins that specifically for gambling purposes so when people want to play gambling, they only need to buy that coin only and they can save the bitcoin and the other coins for another purpose.

Maybe I don't really understand OP's question but haven't we already seen so many crypto and blockchain projects dedicated specifically for gambling? Augur is probably one of the most famous, it's all about prediction markets last I checked. And on this forum itself, several casinos have launched ICOs just to create a token that revolves around gambling. Bitdice has CSNO tokens that issues dividends as the casino makes profit. I believe Betking also launched their ICO for BKB tokens. Lots more if you look around.

I know a gambling platform like Edgeless where they have EDG token for gambling, and of course there are also others in the market.
However, I don't think it's wise to just dedicate a certain coin for gambling only, because it might not help for an aggressive growth of a certain coin.
I hope I was able to give an opinion to your idea, in the end, projects do improvement based on people's demand and they can change if necessary.

That's right, many online casinos have their own currency, which are called either Play Money or something with a casino's name in it. In some cases they are exchangeable for other crypto currencies on the site and in other cases they are not, but it's not a new idea overall. Maybe OP meant something else though, so it would be interesting to see his/her reply to our comments.

If I remember correctly, there are few coins that are only intent are to be used on a gambling site and there is no real value, you can't send it to an exchange. The only thing you can do to it is to exchange it onsite so its like a playmoney

Why not bitcoin? It is also very much perfect for the gambling purpose and it made the gambling business to a next level after the creation of bitcoin so we don't need any new crypto currencies for the purpose of gambling when we have 1800 crypto currencies is in usage.

Bitcoin as my main currency for gambling and not. Mass adoption for crypto casino's already done few years ago and it keeps getting stronger each year when there are new casino's established.

If there will be a dedicated 'secondary' crypto for gambling, I guess the crowd's choice would be Doge. Believe me that everyone loves this coin and hatred is too low for this coin as that type of crypto used for gambling.

Gambling industry and cryptocurrency are perfect combination but is it dedicated or not aren't relevant.
Gambling already old and crypto still new but it's attract people especially for transaction purpose.
Every people aware , both of them are risky but it's yield some unexpected profit.

So it's depend on people's objective

Some casinos have their tokens that you can use for gambling. BitDice started with that, their csno token can be used for gambling on their site. There is chp token for playing poker on their coin poker platform. This tokens can be used for gambling, you can trade with them, casino can pay you dividends for holding. Look at my signature, eos jack allows staking their token on their platform.
Like bitcoin this tokens suffered from a great drop to, for now they are not so successful investments, I have some tokens from several casinos. I can`t say that coinpoker attracts many players there, their token also dropped a lot. All in all we will see what will future bring for this casinos.

I invested into Wagerr (https://www.wagerr.com/) about a year ago, and if I recall correctly, the coin was primarily designed for use in casinos and gambling, and it fits your thread title of a crypto dedicated entirely to gambling, albeit decentralized gambling. I haven't used the platform in a while and sold off my tokens a few months ago, but if you're interested in the project, the link above works as well as this one to the Bitcointalk thread for the coin. (https://bitcointalk.org/index.php?topic=1911583.0)

Oh can't remember name but there was gambling website specially made for one specific coin. Also burstcoin was added on bitsler because of high demand from people for gambling. But there isn't any specific coin for only gambling because there is no demand for it and I highly doubt anyone would invest much if there would be ICO of similar coin. Oh, there is also bitdice (it's btc casino) coin but don't know much about it, check yourself.

I dont know about dedicated but recently FortuneJack was asking for cooperation from blockchains on mutual promotion and usage of an alt coin in their operations.   Most of the teams approached did not really respond positively or at all to requests to get something between a blockchain team and a casino for good use and holding of a coin for gambling.   However maybe I just havent heard back on it, I'm not sure on where people are focusing for revenue but its a really important question to find something real and in demand

    I do know theres is ETH tokens that are just for gambling, PLAY is the name of one token purely designed to pay a yield on gambling of about 1% I think it is to all holders of their token.   The main site that uses it presently is herosphere.gg but I believe its open to anyone if they offer their own games with it

Problem that I see with creating a cryptocurrency for gambling only is site owner will have to create a separate group to operate and maintain the site for gambling and the development of the coin. Even in the real life casinos, they did not adapt this kind of concept, they will accept different currencies from different countries but they will not have their own currency that will only be spent in the casino premises.

Bitsler recently started their own token that will be rewarded to regular players.

It has been tried many many times before and never really took off. The reason for failure was almost always the fact that bitcoin is already great for gambling and people never needed another coin dedicated to gambling.

I mean what can a crypto that is dedicated to gambling could offer to public and gamblers and casinos that regular bitcoin can not offer? That is why people always went with bitcoin instead. There has been a lot of places that started to accept stuff like ethereum and doge but thats only because of popularity and not for utility.

Just-dice has used clam as far as I can remember but that's because they wanted to legalize their place and if they provided bitcoin gambling that was a trouble so they went with clam instead. Hence any crypto dedicated for gambling needs to provide something other coins can't.

Do not worry, I also could not remember an altcoin which is having gambling as it prime objective. I believe there could be more such coins are existing that is the reason we are not unable to recall them. Yes, gambling is a prime business for many ICOs as far as I have checked into altcoin/tokens announcement.

Moreover, what OP is trying to say here is not at all a new thing. But, at the same time I'm not seeing any coin or token is getting popular just due to having its core objective for gambling purposes. Being used only for gambling may not be a good idea for investor perspective that may be a reason why such coins are not getting popular.

Agree, and I think this is the answer to the OP, because there seems to be no more meaning than the OP question besides your answer. The more crypto develops, we will see a lot of coins that are made by other companies and not just gambling and in my opinion this is a positive idea too because indeed many coins have been released.

I do not think maintaining an altcoin is not a big business when considering a dev team which is already having a gambling business. I am saying this, because every John and Albert are having their own coins and maintaining them, the success of such coins is not a concern here but I mean to say it is not a big head ache to have separate coin for their own gambling purposes.

But, I do believe every gambling house will prefer to have their own coin as it will provide another income stream within their businesses. That is the reason why some exchanges have started their own coin. I guess trend will change in future like let us see how many gambling houses are going to have their own coin.

There are tokens with gambling platform out there but I don't follow the development of such projects. From my point of view, there is no need to create such crypto. They can use the already exist coins instead of using their own tokens for gambling. It won't give an additional benefit I guess. Meanwhile, creating and maintaning own coins will require a huge efforts and money as well.

Everyone want to be king in their kingdom that is the reason, few of them are creating their own coin. So, we cannot say there will be no need for such thing.

Even plenty of casinos are accepting bitcoin, there will be many advantages for a gambling house when they will be having their own coin. You cannot compare a business when it will be done using bitcoin and using your own token. When a business will be happening, in your house along with your own coin, it means you have already done one successful deal with them as they are using your coin for the actual business.

I am sure I have seen some similar initiatives from some ICO those who are trying to build a cryptocurrency for casinos. However, they were not received well by the mass because we are being spoilt with choice. Today's crypto market is overrun with the number of cryptocurrencies with zero real world utility and I am sure people don't need more here! Existing cryptos are doing splendidly well!

This will not give to the specific casino who implements this an advantage or edge over another casinos. In fact this would lead to less players for this casino and many players will stick to the standard way of playing with crypto by using major coins.

The fact that many ICO have failed is a strong pointer that this will not bring any real benefit to a casino who may decide to go this unusual route.

Right.We don't need other currency just for gambling alone,bitcoin is already here which is the most trusted coin not just for gamblers but for all types of people.But if we insist creating a cryptocurrency just for gambling,i think it does not bring any essence or even changes at all.Gamblers would still stick to the crypto that is already proven and trusted by the majority.

There is no point for a separate gambling coin to exist, we can just use bitcoin for everything because it has by far the most secure network.  I know a lot of failed ICOs tried to start a gambling coin but they all failed miserably or were outright scams.  We already have enough coins and the last thing we need is more altcoins.

It may be a good idea, but we need to be more specific about the features and the benefit of using this coin for gambling, if it is only act as usual coin same like bitcoin, then its better to used bitcoin, bitcoin already being implemented in many casino, adding new coin without a great feature is going to be useless for the community

Most online casinos that accept crypto payments will take BTC, and some will take other cryptos like ETH & LTC, but only a very small percentage of online casinos accept gambling related coins like FunFair (FUN), etc. It's good to offer such tokens, but most gamblers will not be familiar with them.

Don't you think that the situation is exactly the opposite? Any land based casino of an acceptable quality level has chips of its own, and those chips can only be spent on the casino premises. Also you can exchange the chips for fiat currencies exclusively inside that particular casino or, in some cases, inside a casino belonging to the same chain, but nowhere else. So, there's no problem with having your own coin, and it has been practiced already by many online gambling sites, as you can see from the comments above.

Those chips were well demonstrated in final scenes of the movie hangout part-1.

https://i.imgur.com/EwBui69.jpg

Here is the wiki article on those casino chips : https://en.wikipedia.org/wiki/Casino_token

Yes, it is already in practice so not a big thing for any gambling houses. But, we need to consider the big differences between having a dedicated cryptocurrency and having such tokens.

These casino tokens are just to representing local fiats and its value is not depending on the performance of the casino but it is being used only for the purpose of easy handling of fiats whereas having a own crypto is completely different thing as its value may fluctuate as per the revenue generation of that house. Or, house may go for stablecoin kind of crypto to give gamblers some peace of mind but in that case it again sound like casino tokens.

I agree with the others have said that they Should have value. I think there is no point in doing that because there is no thing dedicated for gambling except the chips that has a corresponding value. Maybe the acceptance of different coin could be a better option.

If you Have many coins that you could gamble chances are you would have more customers, Especially if that time has a lot of users in it.I see a lot of gambling sites that integrated exchanges To make players easily convert to whatever kind Of coin they want

It has become a fashion like everyone want to have their own crypto hence why not a casino ? Being useful or convenient are not a constrain but I guess most gambling houses may come up with their own coins dedicated gamble with them. This fashion has already started with many crypto exchanges and it might be a time for casinos to copy that useless idea.

Basically I hate the idea of having numerous altcoins which are having repeated concepts backed and not having any value in rest of the world. As an innovation to have a common border-less momentary system, we have bitcoins but it seems we are again going back due to such purpose specific coins. 

Maybe if they make up something that is special about it, like when you convert BTC to their specific token where they could use that only there and have some bonuses with it. I agree that it's somewhat useless, knowing that there's no reason to add it, only if like i said, the bonuses that could come with it.

It's definitely not a good thing to have so much alt coins, everything almost has the same technology in it and it's the applications that are the different but basically the same thing. I think there is more diversity with that compared to money in different countries. Some are going to be useless, some are going to stay, overall, no one could take bitcoin down.

Actually the value of those tokens depends on the performance of the casino in a way. Imagine a situation when you, after returning from your trip to Vegas, discover several casino tokens in your pocket. If the casino went bankrupt before your next visit, you wouldn't be able to do much with those tokens except for throwing them away. If it were $100 worth of tokens, you wouldn't go back to Vegas to exchange them earlier, because the trip would surely cost you more than $100. Maybe it would be a good practice if land based casinos were allowing you to send them the chips back by mail in exchange for your money, but as far as I know, no land based casino does that.

There were many coins like that, and most of them are probably dead by now. In general, specialized currency is a bad idea, because the whole point of currency is to be very liquid, and you are intentionally removing this property to get what? There are no benefits for players here, only inconveniences. You don't go to store with "groceries coins" and then to gas station with "gasoline coins", that would be ridiculous, so why would you pay in casino with "gambling coins"?

If a cryptocurrency was to be created for gambling it has to be accepted by a large number of online casinos for it to be relevant, and in this case why bother using it if you already have bitcoin and ethereum, and as many people have pointed that there are a lot of casinos who sell their own token for you to use them for gambling on their sites.

I think so too. There are cryptocurrencies that are accepted everywhere and can be later exchanged at the exchange of your choice and you know they won't go down by 50% all of a sudden like some of the altcoins do. I don't see any feature a new cryptocurrency would have that would make it accepted at every casino.

Reading the OP's thread made me remember some products running the idea quoted by the OP.. some of the coins/tokens applying the same method and the same vision is Refereum which is dedicated to eGaming and HERO which is dedicated to betting and eSports essentially ... both projects are well made and gathered alot of interest and finished their icos successfully.. Finally, i want to mention the esports and betting are doing well.. they are the most profitable projects ever.

Most of the tokens were useless now since their value also might got decreased more when compared to bitcoin and the acceptance are also very low.Bitcoin is mostly considered for gambling other than anything in my opinion so having new coin makes bitcoin go lower.

Great point, not all coins are accepted in casinos most of the time only the top coins can be seen on the list so I don’t think crytocurrency is meant for gambling. We can study every coin and its real usage in cryptoworld, just like ETH where you can use to create token. Gambling is just a one place to where you can use cryptocurrency, just make use you have spare coins to use in gambling and don’t ever use your whole investment.

Yeah like hell,

Main use cases of coins are in order of importance:
-Trading
-Storing value
-Gambling
-Anonymous payment

Don't believe gambling isn't an important part of the coins identity....

I thought we have already have Bitcoin and alt coin for that

Is it like an altcoin which serves as chips in casinos?. An altcoin which has a primarily function to be the medium of exchange either on gambling sites or on casinos. I never heard of this but i think its a good idea since there are a huge population of gamblers existing in this universe. Good suggestion indeed.

But so far, only a few coins were accepting in the gambling site, and the rest cannot use in the gambling. The casinos were creating their token because they want to take benefits from the cryptocurrency which will give them more profit from the selling.
A gamblers deposit bitcoin or ethereum or another coin to their site and the gambler needs to exchange the coins with their token so it can be used for placing the bets. The different price from bitcoin, ethereum and other coins into their token will be their different profit.

I don't think that the cryptocurrency is only for dedicated for gambling because the benefits of the cryptocurrency more than just gambling and it could help the financial in the world.

Actually i already see a coin that is specifically built for gambling and its functioning like a chip for bets ( like the one that you mentioned above )  but it is not a kind of altcoin rather it is a token that came from an ico  .   much better if we used this kind of tokens as a gambling medium because they are more cheaper and also offers alot of benefits  .

Cryptocurrencies on the other hand is not really dedicated to gambling because they can also be used for other stuff like for example when shopping, paying ,  investing , trading , etc    .   cryptos are multi purpose 

Practically the best post here. Lol.

My thoughts with this are that why would you have another currency. Chips like in the casinos are just 1:1 depending on the value per chip, so it's just a representation of your money on the table. I agree that Bitcoin somewhat serves that in the cryptocurrency casinos.

Yeah, and I think its more profitable for a gambling sites to accept the top coins especially bitcoin because its value is very expensive and its worth for them to have it. Though its ok to have coins that is only specific for gambling use, but yeah it needs a lot of capital and more investors so many gambling site will accept that coin.

I don't think there is a real use of such a coin. It limits its functions and eventually the target market that it refers to. I like betting and gambling with coins with high levels of scalability because I want to bet instantly and many times I gamble the last seconds before bets are closed. My most preferred coins are TRX and EOS right now.

This should exist. You most likely will find them on platform blockchains like ethereum and Eos.
Some gambling companies (the old ones especially) I know tend to use multiple cryptocurrencies on their platform.

There is no point for anything like this to exist, you can just use bitcoin and other established coins that are more trusted.  I have seen a few attempts at making a bloackchain lottery though but I don't think any of them have become popular yet.

Theres no need to be exclusively a coin uses for gambling,because we can actually have a coin that can be functional in many aspects so i see no reason why this must be dedicated solely for gambling

Thats what i am pointing though,lots of coins now are accepted by gambling sites so whats the sense of this one

Already this has been discussed a lot, when bitcoin existed it was much used for under world market and for gambling. In this way it was regarded as the gambling currency and illegal currency. Little by little it changed its state and got importance as transaction medium and as a growing asset. Right now there were more tokens that were developed entirely for gambling. Those didn't gained value as predicted.

I think that is also existing and we have many gambling base tokens and many coins are also serving the purpose of gambling and currency at the same time.  It depends what you really mean but I think we have many coins in the market that are doing well and many gamblers are using it for gambling.

When a devs makes a token for a specific purpose or in other words does not have other functions such as payment instruments, they only depend on the age of the coin they make depending on a platform, I mean if they mean making coins only to be used as gambling , so he depends on the age of the coin depending on the gambling site he owns. Maybe it will have a lot of risks, not everyone likes gambling and even a gambler does not necessarily like the gambling site created. I do believe in bitcoin will always be the first choice for anyone who makes a gambling site or for every gambler to choose as a tool to start gambling.

This is basically what we are doing at my project STARSVIPCLUB.com. I agree with the majority that using the big cryptos has more of a advantage and that using a token or a alt coin has been a difficult road that we have been on for a year.

If there’s a new great services and benefits on a purely dedicated gambling coins, why not to use it right? But so far bitcoin is still great and some other big altcoins so by these its hard for a new coin to compete with them without having new innovations. Some gamblers also want to try those new coins in gambling because they value more their top coins.

I agree on what creeps said. Some gamblers also want to try those new coins in gambling because they don't want their top coins/tokens to be used in some sort of shady games.

It might be true but I don't think not all of them will be using them.

Some gamblers might use it, some might want to just test it make an experience out of it and continue using depends on what happened in their transaction and gambling experience. Also, if that will also be a thing, I do hope that a lot of gambling sites will be accepting that. Well, it should be, it is a gambling currency, gambling sites should be accepting it.

There are casinos that have their own coins and there are also ico's that is powered by gambling casinos but even uf they are too many of them . many gambling sites still offer cryptocurrency . why ?  because crypto are more versatile . we can use them on many purpose and if we got tired of using them regularly , we can use them on gambling .

It is what most gamblers do, we're keeping the value of our bitcoin and other top coins for the sake of future while not sacrificing the fun that you can get with gambling you have to use some other coins that you don't value much.

But the thing here is that bitcoin was already enough for it. Though a lot of casino's accepts variety of altcoins but it's up on how you handle those coins and how much you'll gamble with it. And that means that every accepted coin can be used and dedicated to gambling.

Bitcoin is the major daddy of gambling these last few years. As Satoshi said in whitepaper of bitcoin , well it is the meaning more than his exact words , I have created this currency against the tyranny of the banking system which is corrupt, since then gambling with bitcoin has only boomed, other alts followed but there is no more known currency for crypto gambling than bitcoin itself.

Its hard for a new coin to be supported by many gamblers, its normal but don’t think negatively because if you focus to build good technlogy, you can earn the trust of many gamblers and also place on top together with the big gambling sites.

Main currency/coin for gambling? BTC still a good coin for gambling for me, it is already a well-known coin for gambling and many users uses bitcoin as their main coin when playing gambling online, maybe in a casino, fiat is still the best because it has a stable amount and it is physical money that can be used also in casino. If there is a casino that is accepting bitcoin then why not? Still a good coin to gamble whether in casino or online as long as you know how to play your game.

I think we have to accept the fact that crypto currencies has make it easier for the people to play gambling online. There are too many advantages of online gambling, and I think that the most important is that we can visit a lot of online gambling sites at any time. I think that only important thing is to be careful while selecting a gambling site for playing gambling.

This is the reality. We never need to debate whether we need a dedicated coin or not. But, let a new innovation decide it on its own. When there are gamblers finding enough reason to use a dedicated cryptocoin for their gambling, we cannot do anything about that. It will grow famous among crypto gambler community on its own ways.

Competition is already there, so if there's some sort of project that will be dedicated to this they need to focus on how gamblers will be attracted, bitcoin and some other cryptocurrency was already been introduced to much bigger audience in terms of gambling and online usage, for most gamblers they will continue using bitcoin as its really easy and convenient to use for playing gambling.

Might be different reasons exactly could be just to support it, for example - or to try to get profits investing on it. Practically the same reasons why people invest in altcoins.

I would personally stay with Bitcoin but other currencies can also get users even if not too many right now due to the current state of the market. They should evaluate the amount of competition they will have also.

It will be nice if gambling site accept multiple coins but I dont see every gambling having a single coin which will be meant for all gambling site only because each gambling company have different opinion and if you ask me I dont see issuing of such coin as big deal because what every gamblers want is to win and be able to withdraw their winning instant with no issue.
Once they work fine there's no reason why a personal coin should be created for all gambling site.

There is no point of investing through gambling,if someone interested to play with altcoin then they should go for an exchange since in gambling the luck is going to decide the outcome.

Have you seen those gambling coins out there in the market? Most of them failed since most people do still need or rely on whats being commonly used which is BTC,ETH and other top 10 coins in the market which do have significant value. Talking about crypto is entirely dedicated to gambling? I don't think so, since this is just been part and because of blockchain technology we have experience completely different
set-up we do experience compared to fiat gambling.

His concept is not really new. There are crypto online casinos that have their own coin within the system already.  And at the end of the chain, a user want to exchange that coin to their fiat in order to use that in his everyday expenses. I never encountered yet a pure gambling coin used as a payment method.

That wouldn't be such a good idea as it seems. Firstly, how would it have value? If the value would be pre-set on some sites, it wouldn't really be a cryptocurrency, it would be a token and I think those kind of tokens already exist, so it would be pointless. Maybe it isn't a bad idea for having a token, but that wouldn't be a currency, it would be just a token made for certain sites.

Yes that was a good idea making a dedicated currency for gambling only will make the gambling field more easier and if a single currency was been used for gambling will develop the value of the Crypto very easily also so I think it is good idea for me.

I guess it depends on what type of gambling casino you are playing. I would like to use Bitcoin as the currency there and also the money that’s going to be played. I don’t want to convert my BTC to another coin, maybe it could turn in to lesser amount and lessening the value that I should’ve won. I guess gamblers also want easy money with that in a way and preventing the use of their BTC, if that’s what you mean.

I guess what you are talking about is EOSjacks . I cannot provide you much details as I haven't used that much but its a token which you can earn by gambling alone , EOS coin , so give it a try .

The possibility of making your opinion will not be very easy because this type of gambling will not be useful for the development of Crypto market so the single dedicated cryptocurrency for gambling not be a good idea for the development of gambling and also the Crypto field.

I think depend on the people will see the real purposse of cryptocurrencies that some of people does liked to called cryptocurrencies as investment tools but some of people who more likely the gamblers will see cryptocurrencies is good currency to do gambling because crypto offering the easiest way to gamble but admitted or not through gambling industries people know cryptocurrencies and indirectly gambling already help cryptocurrencies to more popular

No, it may be useful for crypto field as it may bring some more gamblers to this space by proving them the convenient of adopting a cryptocurrency for the purpose of gambling. But, a dedicated cryoto must need to prove its existence in terms of what new innovation it has brought to this space like what new feature it will be having whereas other cryptos are lagging in same area. I guess any crypto may have any feature on its own or by having third party support/implementations.

I guess in near future we are going to have many gambling focused crypto coins regardless of they are having new features or not. Because, there are enough gamblers cum investors are here to support them 8).

We already have different types of crypto currencies and most of them will be perfect for gambling since its anonymity will make the gamblers from any country to play free,I think even bitcoin is best for all the gambling purpose and actually online gambling activities increased a lot after the creation of bitcoin.

I disagree with your statement here. Some people might potentially get pretty good profits with the development of that idea. That would bring more options sure but more options will surely come anyways.

What is the difference then if in the deposit methods the regular ones listed will still be listed? - It will be down to personal preference like always anyways in case that really happens.

I don't see a reason to be making cryptos that serve only one purpose. It's better to integrate existing ones into casinos.
An existing crypto with a lot of holders and developers is already free of bugs and is popular/ It has a brand. A new crypto will have to fight an uphill battle on the market where there's hundreds of cryptos already. We should decrease the number of shitcoins not increase it.

Theres also the advantage of integrating a standing crypto with ongoing usage is that you dont have the sole job of encouraging involvement, it can be that people come along from many other avenues of use not originally intending to use it for this purpose but having it spare after a good trade elsewhere perhaps.

indeed, Even some altcoins were created to be used as gambling currencies, you must have found it on several projects. actually all cryptocurrency is suitable for use in gambling, because all crypto is anonymous, but there are some altcoins that have special privileges to gamble

I think we already have some crypto coins which are dedicated to crypto and recently EOS is focusing on developing dapps for decentralization gambling.




With bitcoins, we do not need any further coins dedicated to gambling unless they have some unique idea or project which can bring revolution in the gambling industry.

You just talked about the reality. Most people here are not at all looking for why a coin is existing but they will be simply investing with them to gain momentary benefits. This will go severe when a crypto coin is focusing on gamblers. I am also predicting more such gambling dedicated coin will be finding its success but unfortunately none of them going to improve our gambling experiences.

Many gamblers may hate to use bitcoin for their gambling because bitcoin might be needing at least 10 minutes of confirmation time before you may start experiencing your exciting gambling. This is the reason many gambling houses are now a days focusing on having in-house exchanging facility so that people will be depositing some other coins (for quick deposit) and then  they will be converting those coins into bitcoins so that they will be having the actual high-value gambling.

I think creating the better currency for gambling will be a good idea because gambling feel well developed a lot more than before so we need to change something new for attracting the people to invest so developing a single currency for gambling only will made the field more stronger and it will easy to use by The Gambler.

Yes but EOS is not the only crypto which focus on decentralized gambling through dapps because TRON and ETH does the something and ETH was the first to do it. However, EOS seems not to be competent for the task because there a news going on which says EOS has been one of the blockchains which is most vulnerable to malicious activities.

It seems  to be a good idea of having a single coin specifically gambling only but we have already accepted mix coins for gambling and I don't think that it will be acceptable for the gamblers. Anyways, were not all the time we've been in gambling and there is no reason to decline possible changes as it will help to improve our developmental stage of crypto.

i would like to see and use an altcoin entirely dedicated to gambling with maybe transfers and immediate credits and fixed value (stable coin)

One bitcoin = one bitcoin and there are some services (https://bitcointalk.org/index.php?topic=5106586.) which are trying to help you get BTC across various gambling sites almost instantly. I mean you can enjoy your gambling with bitcoin itself and there are few specialized services you need to have so that you can get all your preferred features and facilities.

I am always against having separate coin for separate applications. We all need just one or few coins and all our gambling requirements may be incorporated within them at higher possible efficiency too.

I haven't found a casino that has focused with stable coins, most of them focuses first with bitcoin and few altcoins. What's that altcoin that you think is good to use? in this case when you gamble, you have to convert it manually unless there's an integrated feature of that casino that allows you to transfer/cashout automatically in stable coins. Otherwise, you can withdraw always with bitcoin or acceptable altcoin and just do the rest for your chosen stable coin.

In fact online gambling has the benefit that most of the online gambling sties accept bitcoin and some other trusted crypto currencies to play with. I think that it is the need of the modern time to play gambling or do shopping using a single currency throughout the world. We should not feel the need to convert one currency into another for playing gambling and other purposes.

Although the crypto currencies are not created or dedicated to play gambling with, but the reason is that in most of the places people have the only facility to use bitcoin for gambling online.

I hope that in future when bitcoin will become more popular and when most of the government will make bitcoin legal in their countries then the use of bitcoin will increase and people will taking interest using bitcoin in other activities also. I guess that very soon we will become able to use bitcoin for paying our utilities bill and school fees etc, which is already exercised in some countries and cities.

Well, that's true. Same time users have to explore and find ways to make use of bitcoin. There are lot of users who have been into bitcoin usage exploring more ways. Even there are people who have traveled to vacation just using bitcoin. Gambling dedicated cryptocurrency is getting into existence more and more. Few of which are into usage were steembet, bet50, betr, bitdice,etc. Using of these won't restrict the usage of bitcoin or ethereum at any instance. This is probably a way to circulate tokens.

It's more of the competition and the innovation that comes with cryptocurrency is inevitable. There will be some people who will   not be contented of using bitcoin as the single currency of the world. And that's the result of why we are having a lot of new coins generated from day to day and all of them thinks that they have the best currency at all. Some casino's already created their very own coin that's main purpose is to be used as their currency and it comes along with some perks.

Fixed coin may not bring the adrenaline which you can get from playing with bitcoin or other high volatile cryptos. :)

Is that you mean (stable coin) like USDT? I don't think there will be many people who use USDT to gamble. They prefer to use bitcoin, dash or monero to gamble because of the anonymity factor in the coin, compared to stable coins that have a centralized system with a high probability you need KYC to use it.

This can be quite expensive and a waste of resources considering that most cryptocurrencies need a lot of demands to be successful. How do you get the users when  cryptocurrency gambling is not that popular at the moment? The less expensive ways to do this sort of thing would be on platform coins like ethereum, via tokens.

There is platform last year that held an ICO about recreations and online shopping. In the same platform they also have gambling online using the platform's coin. In other word the value of the coin will derive from its uses within the platform itself like mean of payment in online shopping within the platform, coin used for gambling and they also have an exchange if I'm not mistaken in the same platform. So maybe this one answers your question. The strategy will be, you will need to buy their coins to be able for you to participate in gambling or online games and to pay for shopping and if you accumulate much in winning you can change your coins to any major cryptocurrency in their exchange.

There is no need for that since there are previous and lots of cryptocurrencies are already developed just for gambling itself and yet most people don't bother to use them, but instead, they use the top coins in CMC. It will only create a shit coin once that gambling platform stops using that cryptocurrency because gamblers will stick to the most common and stable one.

Well, that is a great idea if cryptocurrency have no capacity and capability to be used for online gambling but since all cryptocurrency can be used depending on the casino or gambling site you wish play, the idea of your makes no sense anymore. Although you have a great idea in mind, but the existence of cryptocurrency do already cater like almost anything in the range of internet so there is no need for the creation of a crypto designated only for gambling because all cryptos can already be used as we desire to use it in any purpose. It will just be added into the thousands of existing crypto coin in the market if ever. Just like the  online casino (https://to.crwd.cr/smtm) I am currently into, wherein Bitcoin is the cryptocurrency accepted for transactions like deposit, so I do not need anymore a crypto designated for gambling because Bitcoin can already give me access to the variety of games I enjoy plus have the opportunity to receive their welcome bonus for doing my first deposit in terms of Bitcoin.

No need to think on how expensive it is to have this kind of dedicated crypto for gambling. We already have plenty of them and the casino operators and the gamblers are free to use whether they will gamble with bitcoin, litecoin, ethereum and other accepted altcoins.

I don't think we need that since we already have Bitcoin and other altcoins which charges us with low fee and safe at the same time. I think the cryptocurrency we have now is enough to protect your identity against fraud/scammers in gambling which is the main problem if we're going to use banks or whatsoever.

If I am correct, I already have seen such a project somewhere in ICO review sites. They have planned to launch their coin in 2019 but I'm not sure what the name is.

I think you haven't come across Steemit and steem .
Steemit is a blog which pays its users steem. Many Dapps are emerging nowadays built on steem so it's a great cryptocurrency for bloggers and not gamblers.

The existence of too many crypto currencies is the reason why I believe the market is not functioning well and coming out of BEAR, to many crypto currency to invest in.

I wish everyone can just stick their currency to their own personal projects just like the author picked one, we would have seen a massive growth in the crypto currency market, imagine the OP succeed in breathing one, 50% of people that are meant to invest in other currency to push the market volume up will pull back and invest in this, same thing will happen to his too when another one comes up, that is why we have too many failed projects.

Agreed , with new coins entering the market every single day it's spoiling the overall crypto market . The problem is most of the coin owners are solely looking forward to make as much as they can when the prize is high . This results in failed projects .

I think that will not make a very big difference because people still have and then as well would have many options to make use of.

Bitcoin is preferable as well. And people will use the one good coin that has stayed for sometimes now. So what I want to say is that it is not the coin/currency we use in gambling rather the benefits that we focus on. And I do not think that an ICO entirely dedicated for gambling would be a big success.

In breaking down social gaming, eGaming and eSports, we will be taking a look at how these aspects of online gaming have evolved individually. We will also be considering the factors that have enabled them to grow to their present levels. Also, how present day technologies are enhancing the gaming ecosystem and the opportunities that are already being exploited in each sector.

To read more please follow this link: https://medium.com/@bluebaikalproject/breaking-down-social-gaming-egaming-and-esports-897a4dafba1e

I really like the idea of it. The currency can be uniformly integrated in every crypto gambling site and can be exchanged from site to site but it can't be withdrawan but only exchanged to other currencies for withdrawal. It will surely make a good currency and would gain valuation. Maybe there will be exchanges or even wallets to adopt the coin to trade for gamblers wanting to buy it to gamble. This way, the currency will be higher in price, and since it's jointly launched by all casinos (or many casinos), they will be in profit. But it's too complicated a process to happen xD

Just check out Eos and Tron they have a lot of gaming and gambling applications but all the Cryptocurrency can serve this purpose, in my opinion, it's not a good idea that you only use one currency in your gambling site if you are the owner or creator, you will lose some clients who gamble with other tokens, besides the one token that you are using.
You will lose your competitiveness in the market if you only use one coin.

Actually fluctuation will not be too influential in gambling. fluctuation will not change 360 degree when you play gambling. so fluctuation won't make you lose. for example you played gambling that day with altcoin even though the fluctuations happen it won't hurt you, because you only play for a few hours only. And just price doesnt much change in just few hours, so gambling using altcoin or bitcoin is the same.

Not only minding with little hours of playing gambling.Fluctuations wont really be a big concern.If you are a gambler you wont really mind on the volatility because the one thing only comes to your mind is into make winnings or money. Small movements wont really bother you at all.

EDG or edgeless token already did this. Their token's use cases primarily focus on their gambling platform. They conducted an ICO before, I just can't remember if it was last year or 2017.

More Info : https://www.edgelessgroup.io/token
Gambling Website : https://edgeless.io

I think this is the kind of coin you are looking for, I have seen them being very active lately and it looks like the might have something interesting going on.


CasinoCoin
CasinoCoin is a digital currency, designed specifically for the regulated gaming industry. Utilising the latest in blockchain technology, CasinoCoin can facilitate up to 1,500 peer-to-peer transfers per second, with near-instant confirmation.


We can see some interesting names among the

Board of Advisors
Britt Boeskov
Chief Programme Officer
Kindred Group


Jeffrey Haas
Chief International Officer
DraftKings


And the board of Trustees
John Caldwell
former CEO and Editor-In-Chief of PokerNews.com

Duncan Cameron
Duncan managed the building and launch of the PokerStars Mobile App – PS Mobile


Current value *Coinmarketcap.com
CSC ( Casino Coin ) $0,000445 USD (0,87%)

I understand this thread was created almost a year ago, so many things have happened from the time you posted here until now, there are now so many gambling sites that are based in Cryptocurrency and it's a big help for gambling operators because people now can easily fund their account and he can gain new players from Cryptocurrency, it's a win-win situation for owners, gamblers and the Cryptocurrency industry.

The reason on why most people use BITCOIN as their currency for gambling is due to its value that no other altcoin can match.

Assuming that we were to use a currency entirely dedicated to gambling, the next question would be the price of such currency. Remember what determines the price of BITCOIN is the number of people who uses the currency. Basically, the law of supply and demand governs its price on the market.

Going back, if there exist such currency for gambling, its price would start at rock-bottom and its supply would be relatively huge. This would mean that it's actually priceless until people use it, which I doubt will happen anytime soon.

I don't think it's solely because of the value because bitcoin is not only moving in one direction, it could also pump and dump, it's volatile in short.

The reason I believe is that Bitcoin is the most popular currency that's why more people are using it, and as more and more platform adopting with bitcoin, it will also help to increase its value due to the increase of demand, however, if you are a gambler, your main focus is to win in the game and not the possibility that the money you gamble will rise in value, in fact that's a high risk since you are gambling to win in both price movement and the amount you bet on whatever game you are playing.

For me, I would also love to see more gambling sites accepting a stable coin, at least this will entice gamblers really just play to win the game.

We cannot discredits the help of gambling in cryptocurrency to the market movement,because this is one of the reason why Cryptocurrency is moving even in downfall season
With may gambling sites and gamblers this community is still having reason to look at the health of market,and come to look at the service section when most of the running Signature campaigns are gambling companies

I am also confused about what OP was trying to say here, I there are already cryptocurrencies that are been using in the gambling sites, the only difference now compare way back then is that they are adopting all of the cryptocurrencies which they think they could make a huge profit on it since those are the ones that has the potential as an investment like Ethereum, Monero, Litecoin, Ripple, and etc.

Land based casinos are still based on fiat, it looks like that they cryptocurrencies like bitcoin doesn't poke their interest yet, or they are just too afraid to embrace cryptocurrencies.

A token that's dedicated for gambling just like the usual tokens that the other casinos has. And we don't need it anymore since there's too many of cryptocurrencies to choose from and overall, we have bitcoin and for the altcoin accepting casinos, they can choose from thousands of it but most of them relies on the top and most popular.

Yes, like the projects that are coming out now. They are making their casino with the token that they are also using to fund their business.

That kind of strategy is not proven successful, most of the successful casinos now are just using the traditional style where they accept major coins and altcoins. Maybe gamblers are not trusting too much on gambling sites that use their altcoins because anytime the value could drop since their liquidity is not that good, unlike with BTC and ETH where you can trade them at any trading sites in the space.

This is the list of gambling sites that uses ICO, I'm familiar with some of them but I know they are smaller compared to the popular gambling sites here accepting bitcoin and altcoins.

https://www.katiewager.com/gambling-tokens.html

There have actually been several cryptocurrencies that were designed specifically for gambling, most of which were released in 2017 and then subsequently failed to gain momentum.

However, in 2019, the closest thing you will get to a gambling cryptocurrency is one of the myriad dividend tokens that can be found floating around on the numerous EOS-based gambling platforms, e.g. EOSbet and BetHash. Both of these have a token that is rewarded to players when gambling and can be used to redeem rewards from the dividend pool generated from a fraction of the house edge.

Actually you had a point, involvement as crypto ethusiasm  same as a gamble because of risk, risk due to the affect of volality fluctuations.
But doesn't means crypto currency is design for gambling, it's people's choice because  crypto gambling is anonymous for those want to gamble without knowing their identity. Crypto is also all about investment in my own view.

As long as Bitcoin is on top of all coins, creating a separate coin or token for gambling only will be useless as you will just concert that token to Bitcoin if you plan to cash out. So far I haven't seen any token or coin dedicated for gambling that can be converted directly to fiat without going thru Bitcoin. I'm thinking its just another way for gambling sites to earn more for the additional fees when you convert to Bitcoin then cash out.

Things are different now than the last time you've created this thread, there are now a lot of Cryptocurrencies dedicated to gambling and there are so many gambling sites now that accept various Cryptocurrency, gambling is a multi-million dollar industry and Cryptocurrency developers have done the right thing creating a coin for this business, it's make adopting Cryptocurrency easy.

Gambling business will invite more people to come to gambling games, and it will make gambling business running for a long time. With the growth of technology, gambling owners will expand their business and create a new gambling website. They will have an idea to build a new game with money involved so we will see gambling games will grow too. And with the cryptocurrency, it makes gamblers have many options to bet, and they will not have a problem to buy any coin available for the bet.

Sometimes, I tend to think that it is more or less pointless for gambling sites to introduce their own tokens because in so doing they are directly competing with BTC, ETH, Doge, etc. And especially if they want to develop a site or an online casino which is exclusively available to their token owners only, that is like giving much edge to their competitors. They need to realize that the online gambling business is populated with gamblers who are already comfortable playing with the aforementioned coins.

I actually noticed Loteo and Cryptomania offering new coins for their sites' users. I haven't researched more on them but I hope their sites are not exclusive for their token holders only. That might backfire.

There are large number of cryptocurrency that have been developed particularly for the purpose of gambling. Some even provide dividends on the sum of tokens being kept hold for the purpose of gambling. Majority of these tokens never get much of users, because most of the gamblers find much comfort with bitcoin, ethereum and other top altcoins that gives access to gambling on most of the cryptocurrency accepted gambling sites.

I have short story about this topic.

When I was seeking for my job before, on my first ever job after I graduated.
I have this one company who interviewed me, and I mentioned before that I'm also into cryptocurrency.
You know what the manager said?
"You are into cryptocurrencies, eh? So, you are a gambler." Something like that.
So for me, "Whaaat? Really? Are you serious ?"

That's all, there are still some people don't know what is cryptocurrency and maybe gambling too.

Better than saying, "Hey, you're into cryptocurrencies! Cool, so you're a money launderer/criminal." Lol.

The laypeople still have a negative misconception about Bitcoin and other cryptocurrencies, it all stems from ignorance about a new technology, so can't really blame them.

You should have said oh, you still use fiat money... How's that crippling debt treating ya?

Still facing the same thing wherever people hear that I am related with crypto currency.Some even thing that crypto currency is for criminals so we are helping the criminals to make transactions.

So pathetic.

There is not really any reason to use an altcoin specifically dedicated to gambling, in fact one of the first real world uses that bitcoin had was to be a currency used for gambling, and it is not really a surprise to know why, you can transfer bitcoin very cheaply, you don't need that authorization by any third party to move your coins and while it is not anonymous it allows you to not reveal your identity unless you want to, taking that into consideration any coin that wants to become the coin that is used to gamble will have to beat bitcoin and that is not something easy to do.

I have found recently this cryptobetting platform called Kryptium https://kryptium.io/ .They are using ETH for the moment but is quite well organised. Maybe a coin adoption or cryptocurrency creation can help them. What do you thing?

This site is new to me, I always suggest to newbies to prefer well known and famous gambling site to stay safer. We cannot assure that unknown gambling whether they block on withdrawal or anything.
If you believe you may start with them or learn the collective feedback about that site and then you may go to invest with your fund on that site and make your gambling games there.

Yeah, ive been experiencing the same thing too when you do tend to explain crypto into others where they do have negative impressions with it.
These medias and other news outlets that do give out false info is the cause with these kind of situations.People got blinded by these news which in result
they do look dumb for those people who actually know cryptos true usability.

Yes I know that the chance of being successful isn't that high. Most of the gamblers still prefer to gamble with bitcoin or the established altcoins that we have already.

I'm familiar with few of them and most of those on the list, it's the first time that I've seen them. I'm not surprised though because there were projects that I've seen before that's not on the list. And this is considered to be the top of most and I think there should be an updated version since the article was credited since last year.

Back then when you posted this, there is no Cryptocurrencies that are dedicated to gambling, but right now, there are coins like Eos and Tron that are dedicated to gambling, but it's better for gambling sites that they can and willing to accept as many coins as possible, to make their site competitive and popular among coin holders.

I think even if there will be an update, it will just result to a little changes as this year, there's only few successful projects in this industry.
Most of the successful crowdsale are from 2017 and first half of 2018 where ICO were still able to attract investors.
For now, these coins listed struggles in the market due to the market condition but and the fact that BTC dominance rate is high, this means the demand of BTC continues to go up especially for gambling purposes.

Definitely not. What others say or view about crypto is based on their own perspective. Like government and bank they see it as a treat for criminal act, laundering, etc. While us, crypto users view it as investment, etc. Crypto has many use, it just happen that crypto gambling became successful because of how convenient to access. Crypto is money on the iternet meant for everything not just for one purpose.

There are plenty of gambling related cryptocurrencies out there. The question is which online casinos accept them. I don't see the point of these coins when most crypto casinos accept BTC and a small handful of other large MC crypto.

Yes, they have their opinion about crypto. People in out there think it's strange to use crypto for the payment transaction because they still prefer to pay with fiat. They don't see the new technology has invented and with that, they will have another opportunity to buy something. But the government is not easy to accept crypto even for paying something.

Crypto can be used for many purposes, and not just for playing gambling. But the fact is by using crypto on gambling games, and people will not have a problem to play any game. They only need to convert their fiat into any coins they want so then they can use it to gamble.

I think there are still a lot of people out here that do not understand the concept of cryptocurrency and it is sad. I can only imagine how the above poster felt when the interviewer made that comment and who knows, it could be a reason for him not to get the job but I will encourage him not to feel hurt. Good things they say lives for better ones to come in.  .

One thing that I feel here is that every casino gambler has a big role to play, rather than thinking about some baseless strategies that do not add to the growth of the industry, let's use that efforts to keep on telling friends and families about cryptocurrency and creating enough adoption because it is only adoption that can drive us to destination.

Most dedicated gambling coins/tokens are acceptable only in the relative casino. It means if you run a casino then you may introduce your own coins which is acceptable only in your casino. I guess they are right with acceptability as we are having BTC and other cryptos which are being acceptable in all crypto gambling houses hence we cannot expect those gambling dedicated coin/token also to be accepted everywhere. It is a greedy kind of expectation ;).

If the gambling sites will generate their own coin for gambling purpose only it is not usually accepted to other gambling sites, unless they will become so popular that the demand of coins will increase significantly.

As of now, I haven't seen any gambling sites that accepts a gambling token from other sites, but we can make a prediction with some basis.
For example, BNB is own by Binance exchange but as their popularity increases, other exchanges are listing BNB in their platform, so I guess it could happen in the gambling setting.

Yes you are right at beginning when crypto was not so famous so people gave been using fiat for gambling but now it is modern era where people saw crypto has importance so it's now included in gambling. Crypto is being use for gambling mostly I saw people using ripple and Tron in this regard so i hope in future more coins will be use.

that's not the initial purpose of crypto. but times have changed. people use crypto not as an alternative means of payment anymore. but many people consider this as a trading asset. and many new altcoins also appear that forget the main purpose of crypto coin itself. and focus more on trading. so trading on crypto is indeed a big risk. because it's too easy for someone to get profits but it's also very easy to lose them again.

I think most newbies that I have met both online and physically does not really understand the benefit of using long existed casino site that has been in the market. They just stumble on any new site and start to play as long as the promises are mouthwatering offers that they feel cannot be rejected, and at the end of the day, they are back with complains upon complains. 

Like the my friend that posted up there have correctly said, never play on an unfamiliar site that cannot be really trusted or vouched for,  it is for your own good. That site is new and I opened it and it looks suspicious to me.  Although we can't judge based on that, if anyone has played safely on it, it will be nice to drop report to help build the reputation of the site.

Immediately used for gambling? I think the two coins, bitcoin and ethereum have long been the main coins used in gambling, in essence cryptocurrency has grown and developed and has been widely used for many purposes and so is about gambling, there have been many coins listed in gambling, even one of the sites crypto gambling that accepts many cryptocurrency deposits, but when the transaction has been confirmed then the site will immediately convert it to bitcoin, it proves that bitcoin has become the main even in many destinations not just in gambling.

gambling has a potential but not more   . there are other activities that has a lot more potential when it comes to helping cryptos become recognized  .  those activities are in public or not restricted generaly but gambling has some restrictions and bans  .


most gamblers dont gamble online on crypto gambling sites but they mainly gamble offline . cryptos and crypto gambling are only new while offline gambling that uses a fiat are now verry mature so its normal that there are now tons of them   . still , cryptos and crypto gambling are slowly gaining a popularity these days  ,

We see bitcoin and ethereum already used in gambling in many crypto gambling websites. I think those coin was being popular in the gambling game for placing the bet. And not just those coin only, if you are visiting on the other crypto gambling website, you will see that many other coins have been used as for the bet.

But to see cryptocurrency dedicated to gambling will need a long time and that will need approvals from the government. Someday, when the government accepted cryptocurrency, we will see new people are trying to use cryptocurrency to play gambling.

I believe these coins where already existing even as at when the post was posted. Tron coin isn't new and the post isn't an old post either. The poster wasn't aware and that is the reason for the post just like I was not aware of this also.  I believe the aim of Tron coin has been achieved. It is indeed the most loved among other gambling site and almost every online gambler knows this. 

I never believed in the possibility of having a coin dedicated to gambling, considering the volatility of cryptocurrency. I thought gamblers would be scared to use but it turns out that this is the best option to bettors and many see it as a good opportunity to grow their coins. No wonder, coins dedicated for gambling are growing by the day.

There are many coins already dedicated in Gambling. But What's the point of crypto-currency entirely dedicated to gambling? I mean we have bitcoin already, we can play it in online casinos. Why do we need other coin?

EOS and Tron are not really dedicated to gambling. There are other things besides gambling you can do with the cryptocurrencies. I believe Op was asking about cryptocurrencies/tokens that are created purely for gambling. There is one I am alittle sure of called Augur(REP) https://en.m.wikipedia.org/wiki/Augur_(software)

But at least there is an option for some gambler who have intention to play gambling. I think that's okay if there is new altcoin who has a dedication to be use as main coin to play gambling, even there is several gambling sites who create their own coin to facilitateand makes it easy for a gambler to gamble.

That is an innovation on this industry, everyone can satisfy themselve to what they want and it is good IMO. Even, in the future we can see many innovation who can be use and make an easy way for the user of crypto in many aspects, I can't wait for that, moreover if the government have known the utilitation of cryptocurrency so as they will make a possitive regulation for it.

   There are many project dedicated to exchanges! We have so many new projects about that. They have plans to reward
holders and traders. Same is with casinos, if you are a holder or gambler you can earn their coins daily.
   Ridwan Fauzi I agree with you, this is innovation! Not in one industry, in all of them. And that`s a good thing I believe,
this is only a beginning, probably we will see more of them soon.

Exactly, Crypto is just flexible that it can be used in any transaction online as long as it is accepted in particular business or service. There are coins that is designated for gambling purposes, there are for trading and there are coins can be used in all kind of transaction like Bitcoin. It just happen that crypto is perfect for gambling due to the fact that it is decentralize so it cannot be easily track.

Crypto has many uses depending on what is used and crypto can be used as an alternative to gambling betting and that is for those who like gambling and all to duplicate it despite the risks.
due to the decentralized nature of crypto so that security is guaranteed and not easily tracked which makes crypto many functions, and it all depends on their expertise to multiply it with gambling, investment or trade.

Yes there is a very pomising one : DFT (DraftCoin)
You can find it on Yobit, CoinExchange, Coindeal ...
Below 200 sats at the moment, I think it's very cheap.

 https://coinmarketcap.com/fr/currencies/draftcoin/

What are your basis to say that a coin is promising?

I'd love to know the reason behind why you recommend this coin.

This is an old coin, I check the ANN thread now and it was created in 2017, without some good information to back your recommendation, I would think that his coin is one of the coins that is not going to recover anymore.

Don’t make sense at all,what if one time(though I know won’t happen surely) that gambling was totally banned and won’t ever exist again!then what will happen to these currency?

I get your point mate but it wasn’t necessary needed because why need to create a separate currency when we can used multiple coins with multiple function?

If it's banned, I am sure people will search another way to gamble, and if they cannot use cryptocurrency for the bet, I think they will use another and maybe they will back to use fiat again. I think the same as you, and I don't think that all country will ban cryptocurrency because I am sure that the government from every nation will want to take benefits from the cryptocurrency and they will find how to get those benefits.

That's a possible risk as well, but I think most gambling sites that offers their own token are registered so it the possibility of getting ban is very low.
Unless they commit fraud or violate the rules and regulations they need to comply while operating.


With you idea, now I can see why there's only less people who trust a gambling sites with their own token than the traditional crypto gambling sites.

Which is why most of those coins are bound to fail, even if a casino were to create their own coin and it was widely used in their casino no other casino will have an incentive to adopt such coin, they will prefer to accept cryptocurrencies like bitcoin or they could decide to create their own, when you consider all of this I do not see a way to create a cryptocurrency that is so limited in scope and yet it becomes successful when you have many cryptocurrencies that are already accepted by most casinos and which you can use for many other activities besides gambling.

PLAY is a ETH token that is entirely used for betting on esports games or in theory it can be determined for any bet if you have some experience.   All holders of the token receive a portion of games ongoing using PLAY, I believe its a 1% received by all holders of the currency.    Seems
 like a project that deserves to receive more interest, I'll get a link for anyone interested.

Here is the market cap listing that links into various other details, hopefully they garner greater usage as its just the Developer website running games at present but I think anyone can run games using this token in theory - https://coinmarketcap.com/currencies/herocoin/

Cryptoccurency that is only dedicated to gambling? Hmmm. It would still have value just like any other crypto and it could be still use in other purpose. As long as it has value, you can't limit its use just for gambling. Also in physical gambling places, it's more convenient to use fiat. I bet they would prefer fiat over crypto. Plus the government who don't like crypto. So, it's kinda hard to make it possible...

As for me I would rather bet using crypto instead of fiat currency, because it felt convenient to play using Virtual technology. You freedom is with crypto gambling, and government cannot intervene as long as you're using decentralized form of currency. Fiat gambling need a lot of required permits in order to operate, so the authority won't put you under hot pursuit.

People who knows about crypto are already adopting in crypto gambling, this gambling industry is growing and it can serve the demand of the people.
Actually its already competing with the fiat gambling sites and since crypto gamblings sites can cater small gamblers who can't afford to gamble in fiat gambling sites, this is the reason why they are growing in volume.

Also, for those who will try to enter this kind of business, I think its easier compared to fiat gambling in terms of legal demands but the competition is also tight here so they need to compete as well.

We certainly do not need another currency for something specific as gambling.
There are plenty currencies on the market that could be used for that purpose, beside, all those useless currencies for basically everything imaginable didn't bring much good to anyone. Except maybe those that made those useless currencies and then dumped them on naive people.

Imagine if there is specific fiat currency for buying bread, then another one for buying gas, then 3rd one for buying alcohol. Does that seems practical to you?

If crypto can only be used in gambling then maybe most of us will play gambling even if we are not totally a gambler. One coin is fine to be dedicated in gambling but I dont think it is also a good idea, and I don't think, an owner of a coin will do a coin just for one reason. It is better to have a coin with multiple uses.

For me, since online gambling now is very popular and there are a lot of emerging gambling platforms online. No one uses fiat currency, because it is monitored by a government. Having transactions in the bank was highly regulated compared to cryptocurrency that is it having fast transaction and very reliable. The KYC process when using fiat was most likely gamblers avoided, so, therefore, cryptocurrency is very fit when regards to payment and usage in any form of online gambling.

Actually, this is not practical to have a coin for each market stall. But at the same time, today there are cryptocurrencies of poker clubs that make their name popular all over the world. This happens by publishing the name of the coin in the list of cryptocurrencies on exchanges and investment platforms. This is a kind of "native" marketing move to promote your name, not only with the help of banal banner advertising.

Just like the other replies about this thread, I also think it won't be necessary to have one coin for all gambling because in this industry, we celebrate diversity of ideas, projects and coins. Most of us do not appreciate monopolized monetary system because crypto is originally created for the benefit of the public and not just for some few people. But, specific gambling sites can have their own coin if they want to. This exclusiveness can be beneficial for them but it also limits who can only use it because its customers need first to buy those coins first before they can gamble.

Some Casinos have there very own tokens but I am not sure if that is what you mean. But technically when Bitcoin was first created it was actually built on top of a Poker project. When Bitcoin was first created one of its first use cases was gambling.

As far as a coin for gambling Bitcoin already is that coin.  Even online casinos that were not designed on top of bitcoin have now added it. It beats driving 400 miles to a casino. It can also be as used as anonymously as you wish.

I really dont see a reason to buy another currency with BITCOIN when BITCOIN alone is good for gambling
Things just become more complicated going back and forth between CRYPTOS
BITCOIN is the best and good enough for gambling.

While I stand right next to you for looking no other currency to bet in gambling,but I also disagree talking only Bitcoin must be used
Some altcoins are also better to use a gambling currency but ofcourse for majority is bitcoin

What I disagree on this topic isn’t the need of having a specific currency to use as betting materials when we can use others if what make us comfortable and accessible

Yeah, why we need to have a specific currency if we have many altcoins that can be used for playing gambling. But still, bitcoin is not my first choice to gamble as I know that there is another low coin price. But maybe people will feel better if they gamble using bitcoin as if they win, the amount will be larger than before. Well, that will be up to them because we have a favorite coin to gamble and we are free to use any coins we want in gambling games.

There's a Etheroll (DICE), an Ethereum token. The more of these tokens you hold, the greater your share of Etheroll's profits. On etheroll.com only Ethereum is used to gamble, you can cannot gamble using the DICE token itself.

If you study the gambling sites that issues tokens, they treat the holders as investors as they could offer dividends or some perks when you are gambling using their tokens, although its risky as you are holding a token that solely depend on the site performance but that's what you get in return, if it is successful you will benefit.

However, personally I don't invest in this kind of projects as I have bad experience in the past, I'd rather just buy btc and gambling, thats it, no more and no less.

I think it all started when some of the casinos launched their own utility token during 2017. They offer decent features and benefits having their very own token on the platform.

And that's why others until now are simply following the path, they find success to the early ones who have collected a decent amount of money and funded their token which determined the value.

These currencies that are just created only to be used for a single purpose never seem to be a good idea.
they always seem to not be used as a currency by stores and the nice use it was getting just becomes more and more obscure until it is not used at all.
Like Namecoin such a good idea but you can just do it on top of ethereum and ethereum can do so much more

There is just no reason to use a crypto thats for one thing when you can do everything on top of bitcoin or in ethereum

I think there were lots of cryptos that were made specifically for gambling, and there were even cryptos that were made specifically for currency for playing online games? Bitcoin is not made specifically for gambling, yeah even though you're already comfortable using bitcoin in gambling, but what if a token or project offers bonuses and facilities that are better than bitcoin when you play gambling? I think there will be a lot of players who want to use it, depending on the specifications and facilities that you bring from the coins you want to make, not just ordinary crypto.

Have played an online casino before where they have their own currency where you can buy using USD or other crypto. A certain amount of their coin represents 1$. So, I think it is not necessary for them to undergo ICO or what so ever if they do not intend to have any other function for their coin aside to be used as a currency in their platform.

There's no difference between the two that you have mentioned both are being used as a currency for a casino then. About the bonuses, it is what I've said about having feautres and benefits that's why they are making it. In return for their investors and also to their loyal customers.

But as a universal cryptocurrency, we don't actually need more of them. That's why bitcoin has existed because it's one of the use that it can be applied. As a gambler, you have the choice if that casino has existing token, you can use it if you want but most of us still prefer bitcoin.

That largely depends on your gambling preferences

For example, if you bet rarely but squarely (I mean, make big stakes), then Bitcoin might be the best choice for you. On the other hand, for people who prefer to run different martingale setups (like myself), Bitcoin would be the worst choice specifically of its expensiveness. We, simple martingalers, need a cheap coin that would allow us to start small and withstand long losing streaks without busting. So we choose Dogecoin, and its popularity among casinos pretty much speaks for itself even if it wasn't created with this purpose in mind

This is right, a currency cannot be limited to a single activity or business because this will decrease its utility, this is why despite the enormous distances between communities in the past and the difficulty to communicate with one another gold and silver were chosen as the main forms of money due to their characteristics, so if someone created a currency with the only intention of being used in gambling but it was by far the best cryptocurrency you can be sure that very quickly people will use it for stuff unrelated to gambling.

Exactly, a coin for only gambling would offer nothing and only lose value quickly without any good usage.
On the other hand, a 1:1 token backed by BTC only for the purpose of fast on-chain transactions inside a platform would be fine, but that's done by each platform/provider individually.

There are situations like this that all of us has to encounter. We feel sorry for using our bitcoin as we bet but this all would depend of your acceptance and decision making. As you've said about preference, we all have the choice to bet with it or not.

Likewise, as I've said, you can use their utility token if you want. Because just like the days of 4th quarter of 2017, the price of bitcoin was so high and we don't feel of using it nor trading it because we just want to save the value.

I know this is an old thread but gonna reply anyway. I agree with many people here that this is completely unnecessary. Most major coins are accepted by gambling sites anyway. If they want to produce their own coins, then they are free to do so but I don't believe that's going to make any big difference.

That's why we see those kind of projects struggle as people would prefer to gamble with BTC and ETH, at least this option should be present in any gambling sites so they can attract more gamblers. People just want a simple website that has a good reputation to gamble on, deposit and withdraw their BTC, they don't usually focus on the rewards as most gamblers does not spend long hours in gambling especially those sports bettors.

They are going to make a big difference if they can get a lot of gamblers to play in their platform.
In order for them to do that, they need to offer something different or unique that is enjoyable to play, that's what gamblers are looking.

First thing that we have to consider is that they won't operate if they don't get success from raising funds as mostly in this kind of platform, they raise their money through crowdsale, so that alone would say that they have believers who invested on them.

There is not special currency dedicated to gambling.It has to be fast low transaction fee
I remember when i was betting on legendary betting service DirectBet.eu then i have been betting with dogecoin
Bitcoin was slow that time fee was much higher than dogecoin
Mostly cryptocurrencies gambling or betting services are giving opportunity to choose from few cryptocurrencies

It's positive for me it will advance the cause of Cryptocurrency, since your post was 2018 so many things already happens and it's positive there are now so many gambling sites using Cryptocurrency, in fact there are Cryptocurrency gambling sites that were created and many more coming
You should check those gaming and gambling sites bult on Dapps on Eos and Tron, they are interesting and geared to promote Crypto gaming

Maybe they know what will just happen if they undergo ICO so they did not bother.

I don't entirely know what is happening in ICOs but most of them failed.

The possibility that I see is the number of bounty hunters in the market and after receiving their salaries or maybe payments, if you all prefer it, sold it in the market with lower price than the project intended, after that it will be having a domino effect to the next sellers.

I don't like using Bitcoin in gambling platforms, but other altcoins are great for me
and better than regular fiat money. Ethereum is one I use most of the times.
I also saw some tokens used for this but they loose value fast.

for gambling, I think altcoin is better because coins are cheaper and also have a very small fee compared to BTC. Gambling profit results using altcoin are exchanged for BTC, this I do as the final thing after gambling.

There was also some kind of site that shared by me sometime ago in which they are using their own token to bet in their gambling site and this is EOSBET.io though not like others they already done ICO and what is good about them is they are giving dividends to those who holds their token.in one way or another players are in good position as the offerings is indeed

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And about the OP?let the sites have their own currency to gamble because it’s every company’s rights to have own but in general?no I will never consider that because I love to play/bet using the currency/tokens I feel to bet at a certain moment as I have several of them ready to gamble

In my opinion, most of it is yes. I am only talking on how it looks like at the moment because we are still not on the mainstream adoption. There are only two uses that I know that is very active in using cryptocurrency and that is online gambling and trading. Only on a very rare occassion that it used for payment and big percentage happens on the darknet or darkweb.

That is true, but in my opinion it depends on how the user uses their cryptocurency. Besides being used as a trading and investment instrument, cryptocurrency has also been used for gambling. Cryptocurrency makes it easy for users to make transactions anonymously. Perhaps for this reason many of them gamblers use cryptocurrency to bet.
In my opinion there are still many other reasons why cryptocurrency is not only dedicated to gambling.

Same to me, I already use ethereum for gambling, but I also tried to use another altcoin, which I think can arrive in a short time than the bitcoin. I tried to use litecoin and dogecoin. But I don't think that cryptocurrency will be dedicated to online gambling. I think people out there, still like to use fiat to deposit their funds in online gambling. And maybe that is because they don't know much about cryptocurrency. Or they know cryptocurrency, but they are afraid to start to use.

Since you are calculating about fees then altcoin is better rather than btc to avoid high transaction fees. There is also multiple gambling sites who are accepting different Altcoins for gambling. So it's become bit easier to play with altcoin as well. But there is fear of dump when you are playing with alts. Because if your alts dump hugely then you will get nothing even you are winner on the gambling. So obviously you have to choose potential alt coin which is not much volatilities. Then most likely you will be gainer from both sides.

But that would depend on the platform itself, the games and service they offer, not simply because they have their own coin. I like to think of it same way as Libra. Main reason people may want to use it is simply coz it is integrated with FB's platform, not because of anything unique to it as a coin.

Convenience counts considerably.    I think a large part of the world is determined by such simple forces as what the millions in the masses of people consider easiest to do, not the elitist details people debate as being most important.


This is the wider world too I think, people favor US dollar so much because its been the king since world war 2 so we have massive historic bias and its going to take a giant change to alter that trend of the world always running to dollar to save this currency risk to their investment, to their cash and general asset risk.   Its quite obvious Dollar isnt a perfect haven, far from it and how that story plays is part of crypto currency balance too I think.

Dogecoin is that coin, absolutely

It may seem as something unimportant or insignificant, but Dogecoin is certainly one of the top cryptocurrencies out there with most real life adoption, even if this adoption is only about gambling. It is cheap as dirt which means you can build pretty sophisticated martingale strategies with it, and it is extremely fast as far as transaction speeds are concerned. Nowadays its price is pretty stable in dollar terms (for an altcoin) and doesn't depend too much on the overall cryptomarket volatility:

http://c.radikal.ru/c33/1910/7d/0f9613c99903.png

In simple words, if you are looking for an altcoin to bet with, don't look any further

Nope, cryptocurrency isn't dedicated to gambling however, there are some coins that are made just only for Gambling. It just happens that crypto is almost perfect for online gambling in terms of anonymity for example, your transaction won't be traced since you were using crypto. Cryptocurrencies are versatile, it can be used in any transaction such as trading, investment, and even gambling.

I have no problem if bitcoin and altcoin are used as gambling tools. indeed the reality is, now more online casini are adopting cryptocurrencies to gamble. because I think all of this is about adoption, cryptocurrencies if you want to be popular and survive must adopt and develop various types of transactions. and it turns out that adoption in gambling is more welcomed than a P2P transaction.

I use doge coin in many gambling games which i play. Even i can gamble with 1 Doge and it is real cheap. Even if i lose few of my doge they will not be a big amount when converted to bitcoins or fiat.
I know few coins were made to be used only on gambling but none of the projects went well as people refused to adapt those coins / tokens.

That is a relief to hear that you care about not losing too much of your asset and you do not intent to get some bitcoin and waste them in gambling. A risky game like gambling should be played now and then and that too with a very little amount of asset. No matter how fun gambling could be, losing money is never something that a person can celebrate. Crypto currencies have better purpose to serve.

You need to have the mind of a trader and a gambler at the same time for you to be aware of the possibilities of dump while you are figuring out on how to win or increase your bankroll. It's a tough job really, that's why most gamblers only choose bitcoin as it's more stable compared to any altcoins.

Seems like the conversation goes Off Topic already,let me remind you all guys that OP is asking if we would go to create a CRYPTO that will only function as Gambling Currency (this is the way I understand the OP) meaning a single coin like casino chips that will function as gambling money.

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For me this is nonsense because if the gambling got banned(things that impossible but what if?)so the said currency will got no value?

If you are holdling EOS and you have an activated wallet preferably Scatter, you see that there are a lot of Dapps gambling on that wallet there's also Bethash a very popular Gambling site created on Eos network, you can also check Tronx https://dapp.review/explore/tron?category=4, Your idea has been realized after a year, and many more Cryptocurency that is dedicted to gambling the latest one that I know is https://coinmarketcap.com/currencies/loteu/

Exactly, they're mixing things up. The majority of people thought that the OP's point was realized and many "Gambling sites" are already using Crypto as a medium. When the OP is trying to say is to have a dedicated cryptoccurency "only" for gambling and no more, which translates to what you said as the "chips" of a casino.

You don't need to concern yourself if it will get banned or not because most of the gambling sites nowadays accept multiple cryptocurrencies as their medium.

Being honest, even if altcoins are a lot cheaper than bitcoin but still the very sound of gambling with them or any type of asset is disturbing. Why would anyone waste even a single penny or lose it for no good reason? Gambling is not a beneficial game or profession. It is best to stay away from it. The worst thing about this is that it does not only affect the gambler but his relatives and close ones too. Besides, digital assets are too precious especially bitcoin.

bitcoin is not just for gambling alone.
certainly there is an already created altcoin only for crypto gambling.
bitcoin is the spirit of crypto, its function is inappropriate for gambling.

BTC is actually more appropriate in gambling. Its sort of a chip in casino.

When a gambler holds chip, in their mind its just a chip and psychologically they tend to bet more using these chips for its doesn't look like money and will just gamble it away which what casinos want. BTC acts the same way which btc casinos wants BTC gambler to spend it all.

It's a cheap that is not for gambling purposes only and its accepted widely in the crypto world.
It's quite different in gambling tokens where you can only exchange it in the site or exchange in certain exchanges, that's why people choose BTC over others because of its big liquidity and they will not worry a lot since its more stable than other type of coins, including gambling tokens.

If a casino wants to develop a coin like that they are free to do it but I do not see the necessity for an ico, casinos are some of the most profitable businesses in this market and any casino thinking about developing their own coin should have enough resources to do it on its own, if that is not the case then you can be sure that whoever invest in that coin is probably never see any profits as people eventually realize that no one except that casino accepts that coin.

You can see bitcoin, ethereum and dash in most of the gambling sites but I love to Bitcoin since it is very convenient to use than other cryptocurrencies.
I believe you may create some poll questions to learn what are the coins being used largely in gambling sites.

1 more thing maybe i will add, is when people don't need to reveal their identity when gambling with cryptocurrency. Although some gambling sites for now ask their users to do KYC, others are not. That is why i pick crypto gambling than fiat.