Bitcoin Forum

Now that news are filter in that ETF is about to be approved by sec, I will like to ask about your views on this.  Will ETF approval affect gambling industry especially the crypto gambling industry?

It will definetely affect crypto-gambling as much as Bitcoin, imo. Due to the bump which we can see right now, there will be more people who interested in cryptocurrency, thus more demand on crypto casinos, so they will have to compete for players harder by providing better services.

I will be waiting to see a price up as more people will be interested to buy bitcoin More bitcoin user means more bitcoin based gambling. So, it will have a positive impact in the gambling industry I think.

Well, I am not sure there will be any impact. Even though the interest in cryptos might increase, we are talking about new investors and traders, not new gamblers. If the number of transactions increases, perhaps some difficulties like those we had with high fees back in the end of 2017 can come back to the gambling industry as well, but I am really not sure that the overall market situation is even affecting the gambling area nowadays. Perhaps the number of gamblers will increase after ETF approval, of course, but to me these two really don't seem connected.

ETF approval is supposed to make a positive impact upon the growth of bitcoin market as well other cryptocurrencies that exist in the market. Once the ETF appeal was used as a way to manipulate the market. In recent days people understood better about it, and didn't react to it. As of now gambling industry has got the highest circulation rate, when ETF approved more common people will get into it.

Why people do believe on ETF too much?

I dont even see this thing do have significant effect on bitcoins price.Yes, it might be an adoption but i dont see any difference at all.

Everyone thinks that it will drive the price up and a lot of news came out lately that an approval to bitcoin etf is inevitable.
We won't know until we see the true result of it, the effect would cater in the crypto community as a whole including crypto casino's.

Not so important for the gambling sector, as the primary goal for both the player (gambler) and the company which provides those games to such players - is making money through their own ways. The only benefit ETF could do is by getting a spike in BTC value as whatever a gambler wins, he saves them for the correct time to be withdrawn and ETF issue is a perfect hype to let that happen. It'd have been great if this ETF stuff could open the possibilities of using BTC broadly by a wide range of high end gamblers even in the institutional investment sector by giving them the possibilities to be able to manage huge BTC amounts, but as everything will be just contracts and there will be no need for them to hold BTC in real (or virtual whatever), I don't think there seems any extraordinary benefits of ETF approval to the gambling industry.

Online crypto gambling casinos will definitely benefit from the approval. Before, there are restrictions with the use of these online casinos. With the approval, they might loosen up their regulations, thus, more gamblers can now play freely. And so more players means good business.

More players will bring more money inside the industry and for sure it will lifted the value of bitcoin, more gamblers will noticed that and find this
system very useful and transfer from old school fiat casino to crypto gamehouse, those potentials and possibilities can be acquire after this
ETF approval will manage to happen.

As always, ETF approval still bring some good hope for crypto followers.

Gambling industries were already growing before ETF decided so in my view it will have not any effect for gambling industries itself that ETF approve or rejected the gamblers will still gamble regularly without thinking anything else and popular casinos will still available loyal players who willing to spend their money at gamble table but some people says if ETF approve the price will be reach to the moon but  i think they were predict too much here

Yes it will affect because if ETF get approved, more people will join crypto shpere and more gambler will be there. So, it will definitely be a benefit for crypto gamble industry.

Yes the approval of ETF will definitely affect gambling industry because there will be more demand in the and this will significantly cut across all crypto sectoria including cryptocurrency gambling. Can't wait to see the market bullish again!!!.

Nope.Bitcoin won't be ETF approved by the SEC.
Anyway,any bitcoin price increase leads to madness driven by greed.If the amount of human greed increases,the gambling industry(which is driven by greed) makes more money as well.

I dont see any significant changes in gambling field when Bitcoin ETF will be approved, not even the prices in crypto market. Maybe because of the ETF hype since last year, it will create a rise of Bitcoin value in the marker, not because of the ETF approval.

Yes, the ETF approval with definitely have a indirect impact on the price of Bitcoin and this will influence the values of the tokens that are used by many of these gambling operations. They will have to adjust the token prices and they will also get more customers as more people are attracted to Bitcoin.  ;)

A lot of these gambling operations adapt the token prices automatically, based on the price. {Freebitco.in also adapt their faucet payouts, based on the price of Bitcoin}  ;)

It's not important for us who already into Bitcoin however, it is important for those new people who have doubt in Bitcoin.

There are billions of people around the world who are brainwashed by the yellow media. The ETF approval for them is kind of green signal to trust Bitcoin which is a misconception by the way. Bitcoin will move with or without them however approval of ETF will bring more interested people on the table.

I don't know, but I think the gambling industry doesn't need ETF approval to continue their business. As long as they can build more and more gambling places in online or offline, then they can attract more gamblers to play on their websites. But for the other things, it will give fresh air for the market, and I hope that it will change the situations so we can see the bull market will come. Many people still need to believe that investing in the cryptocurrency can gives them a profit in the short-term and in the long-term. But they still need to know that when they decide to invest something, they must know that the risk will be behind on that investment.

there will be benefits to the industry because ETF aproval  would attract new big investors
so the price is going up, most likely and there will be more buisenesses , official casinos, more regulations, more rules and more KYC
wait ... I mean ... it would be beneficial , haha
but ETF approval sounds more like a stuff of legends at the moment more than  a real deal

Exactly. Approval or no approval, other countries are eventually embracing BTC and the only thing affecting its price it is the whales.

Not even surprise those from Wall Street are one of the main players behind the scenes.

IMO gamblers ( especially professional gamblers ) don't care at all about ETF , if you are a gambler and living in a country where gambling btc is the only way to gamble then you will use it regardless of ETF
and if you already have access to another fiat sites but still find value or fun in certain bitcoin site then you will use it as well regardless of ETF

I have no idea though if it will have some impacts on the sites , for example can we see more new sites offering bitcoin ?

The approval of bitcoin ETF by sec might still take some time before its done.
But in my own opinion what ever decision is reach be it positively or negatively it would affect Every sector of cryptocurrency and that includes bitcoin related gambling

Most probably, more gambling sites will be created and launched. Better be careful in signing up and playing with them. There are definitely scammers out there waiting for their fish to fry. In my point of view, there will be advantages regarding the ETF approval, not only in the gambling industry but the whole crypto market in general.

I guess this will help the market and when we talk of market it has a lot of components to grow.
Crypto gambling is just one of the reason why the market is still here, with a big number of gamblers all over the world and limited number
of good casinos only, I think we will be seeing a boom of the gambling industry again, people will choose to gamble in crypto than their usual way.

Approval of an ETF will make bitcoin more legit as a currency in the eyes of the governments. People will realize bitcoin is not a currency only for the hackers and drug dealers. The gambling is industry is far bigger than what have have now with crypto. When more people have the confidence to buy and use crypto freely, not just the prices of crypto will shoot up but also crypto based gambling will be making much more money what they do now.

I still don't get it. ETF is a trading derivative, completely different product and I would say completely different industry to gambling, so why would we even be thinking ETFs lead to gambling sites increasing Bitcoin?

Also, isn't the US now thinking to make all online gambling illegal, even the ones supposedly already allowed to operate?

Aside from the fact that with ETF there would be more people interested in bitcoin, there is really no specific relation.
I mean indirectly sure but the ETF and casinos are not related so I doubt it would make any difference to it at all.

If anything making bitcoin more legit makes it harder for Americans to gamble in crypto, which in return makes it crypto casinos losing their american customers (even tho there are already few of them) and that equals to loss in profits as well. That is why I don't think it will have too much affect, whoever will come will also be at most equal to people who leave and nothing will change.

But to think that if ETF succeed and do not affect any bitcoin term is possible and impossible thing to do, yet there is no regulations about it that really change the casino drastically. But how about if I said they should all think about how to increase the value of the coin itself rather than press it to the bottom. This is better than keep on asking an ETF approval

The prices will shoot up and it will be in control of very people in the world if ETF get approved but there is no problem for gambling industry I believe since these kind of people will gamble with more money than the common people.

my thinking was if anything was pin changing then there are some good development will came for by investment I also expecting a lots of graphics when this change will be happen.

The benefits of ETF approval to gambling industries will make bitcoin will popular than before, and people will know that bitcoin can be used as the bets. They will search another payment methods that will make them don't have a problem with playing gambling, and they will find that bitcoin is the new solution to them to comes and play to the gambling industries. The gambling industries itself will grow, and there will be many other gambling websites will launch to make people could play various games.

Rules and regulation is definitely not a good thing and I don't think it will get implemented on the gambling sites,the advantage is that prices will go up so the bankroll of site will get huge value when the value increases.

Rules are normal and okay but regulation i dont think so  . ive been hearing alot of bad comments about how bad is regulation  . but im also aware that gambling needs a regulation because it involves alot of money   .

regulation can make a gambling site more trusted and legit .

Regulation can either make the site attractive and not because some people likes a site that is regulated while some hates regulation  .

I do not understand that how ETF approval will benefit the gambling industry ?  If the ETF is approved the bitcoin rate will increase a lot and those who are n trading field will benefit from it. From the gambling prospective, it can only benefit in a way that if you won some bitcoins through gambling, their value will be increased.

Well, once the ETF will be approved and many new institutional investors will come in the business, bitcoin price will increase tremendously and this will help gambling grow further as since more people will be having bitcoins and they will be introduced to gambling, will increase the gambling business a lot.

The ETF has nothing to do with the gambling industry unless you mean the spill over from increased value of cryptocurrencies will somehow affect the industry by attracting more funds and players otherwise owners will adjust gambling prices and it will be business as usual.

For the sake of argument, let's say that a ETF has been approved, there's a wildly believed that it will push the price. So for some gamblers, it might affect them in a negative way. Are they willing to play their 1 BTC when the price is $30k?

How about the transaction speed? It might clogged the network again when the price hits all-time-high that might sway gamblers not to deposit because it might delay their playing pleasure.

Direct to the point and very literal answer which would really happen since we have seen already when bitcoins price tends to soar up it do really clogs the network which would result an
inconvenience to gamblers.

Why people do really forseen that ETF would mainly affect gambling industry on crypto space?

The business will still the same,gamblers will continue playing whatever the result from this concern, every positive overview also needs to look
the other side, if ever the value rises up after the approval there's a chain reaction for sure and that can be discuss after things already been there
in front of us.

By now, we are all speculating for possible cause and effects of ETF approval to the gambling community, not clear but all still speculations.

On the other hand they might be gamblers not keen on playing with their crypto specially if ETF approval would mean a start of another bull-run.

So for me there will be no positive effect, on the contrary if might spawn some problems with casino owner and players specially if the speed and the confirmation times slowed down again. We have seen it happened during the last ATH so I'm sure it will happen again.

There will be considerable benefit if the ETF approval to gambling industry as the game will now attract many players tpplay and equally attract many new investors around the world to join the world of cryptocurrency.

It could have significant effect on the price because then investors from the forex sector would take it more seriously and will move their money into it even if a small amount to them is considered alot to most middle class earners.
And the last time a etf was announced it did increase the bitcoin price but when it was rejected it brought it back down to the level it was at before the announcement.

No doubt the EFT approval will create an impact in the crypto gambling industries but I believe it will create both positive and negative impact because the ETF seems to be an act of semi centralization of crypto currency which was the reason why it take the SEC long to approve it because every necessary procedure are to be follow.
Lets just hope the negative impact wont be much.

What kind of impact would that be if ETF would get an approval?

If you mean to say is the price of Bitcoin, I don't think there is something that ETF would do to make a change of the price of any cryptocurrencies.

SEC will do the right thing that's why they have to delay or reject any proposal if the requirement doesn't meet.

Well in my personal opinions and analysis the benefits of ETF approval to gamble industry is the cryptocurrencies will be more legal to be used as current for payment method on gambling industry, although the ETF is not regulator of the money in cryptocurrencies at least there is the law on cryptocurrencies space and it will gives good news for gambling games related with cryptocurrencies. The new people will addopt cryptocurrencies in their gambling games.

I think the only effect is the bitcoin price, other than that I don't see any impact is related to crypto gambling industry, the approval of etf won't make people gambling more often and won't make investors go gambling, so I don't think it will affect too much whether the etf is accepted or rejected for crypto gambling industry

Not just bitcoin baded gambling because if bitcoin price grows the altcoins and even tokens will grow also this means everything will be happy and the gambling industry will benefits more,imagine the bounty hunters will surely use larger amount to sutain their love in bettings

Ofcourse i am part of this lol.so let us all pray that this ETF will finally approved as we have waiting for so long just for this great event that will be remembered in the whole crypto world for the rest of generations

Yes of course and the value of the coin will be more expensive for sure and those who lose big money in gambling will regret it, but I don't see any major effect on crypto gambling since ETF is not about the progress of gambling and the price is the only difference so technically the market of gambling will still the same.

I think it will not affect crypto gambling as much as people are thinking here. Crypto gambling is a well established industry, I would say the most solid one in crypto zone and is solid based on bitcoin mostly so ETF won't make it go much further than it already is.

Betting, Dice, slot and any gambling sites were at that point becoming before ETF chosen so in my view it will have no impact for betting ventures itself that ETF endorse or dismissed the card sharks will in any case bet consistently without supposing whatever else and mainstream clubhouse will at present accessible faithful players who willing to spend their cash at bet table yet a few people says if ETF support the cost will be reach to the moon.

However, I think they foresaw excessively here.

And maybe the traditional gambler will moves to the online crypto gambling so they can find another experience with using the crypto. I am sure that it will attract more player to come to the gambling business and there will be many new gambling websites around us. But I am afraid that it will attract young people to come to the online gambling games too because they can play in everywhere and we need to take attention to this.

Yeah right,gamblers will still bet even if without ETF approval,but in some ways others will be more active if he value of bitcoin grows because of this occasion since the market for sure will bloom again and the former cryptonians will again re enter the part as many of us leaves the market for awhile to venture in other form of profiteering,and with ETF(as many foresees the growth will start again if this happens) we can see more active people in this community again and ofcourse gambling will benefits