Bitcoin Forum

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

I don't see this as a problem too. But it gives the idea that cryptocurrencies is mostly used for gambling and speculation. But that's the reality of the current cryptocurrencies. Developers need more time to create more useful and creative applications. The problem is how to attract people to use your application without them to be afraid that their coins lose value and who are the current users of cryptocurrencies.

Betting is a form of game. If it can be utilized in the crypto space why not. I don't see anything wrong in that cos the conventional fiat is also used for betting. I see it as a welcome development and the much expected mass adoption of cryptocurency. This will help spread the news about cryptocurency to even the remote parts of the world where betting is mostly the source of livelihood.

I personally don't see betting as a bad activity, Infact its agreeable that betting is a great source of lucrative income for countries and businesses. Betting projects in cryptocurrency tend to do better than their counterparts in other sectors, that makes me prefer to work for projects that are into betting because most of them meet their softcap and pay bounty hunters generously.

Unless trading is considered as a form of betting, I don't think that percentage is real, there are not as many crypto betting houses out there, that article must be wrong. In any case, if some people want to use their coins to bet, what is the problem?

It entirely depends on your personal teste. If you don't like betting, you won't lkke it and vice versa. However, betting is not really a reason for the bad name cryptos have earned (if any).

Whatever the controversies you will see in the market regarding cryptos, mostly comes from its association with dark web, ransonware, money laundering and terrorism financing kind of illegal incidents. I think these incidents are actually harming the reputation of cryptos more than betting.

I will make a special mention of ransonware because it literally shook the world in 2017 by launching more than 100 million attacks. One thing was commin in all these attacks, is bitcoin! That was a real bummer. Betting at least provides a way to utilize cryptos.

that article can't be used to represented the whole of the crypto transaction. What's the data that already taken by that article? is that coming from the reliable source? a lot of question can be talked about that. As far as i know so many betting platform have been moving to the new blockchain with the cheap tx fees as the main consideration.
how much crypto tx can't be determined to be used in one thing.

Many transactions are made via gambling websites. But I don't think that percentage is right. You can easily check the coins transferred via exchanges and compare them with the transactions made via gambling websites. I expect the number of transactions made by traders to be much more than gamblers.
Can you provide a link to the article?

No, people are betting everyday, hows that bad? Unless you are buying/selling drugs, gun, bomb, or any illegal things with bitcoin, that's a bad way to use bitcoin.

it is necessary to question the credibility of the website.  60% is a lot.  Maybe there are some that are used to bet.  but far more crypto is used for payment matters and for investment.  betting using crypto is also a great opportunity for long-term betting players.  Many projects with successful betting backgrounds until now

its being used by people, its the most important of it all.  it doesn't matter whether most of us use crypto mainly for gambling or buy whatever they feel like. its how money works and btc is like money. it will come one day we could be using crypto in buying things in grocery stores and so on, one day we'll be doing that using our phones. for now, lets just earn more thru gambling :)

I would imagine that article itself made crypto look bad.
But I would suspect the article itself.
I mean, where did that number even come from? 60%? Sounds like a fact that was just made up.

The thing is, I don't think we really need mainstream people jumping into crypto investment.
I do believe that crypto will go mainstream, but I would rather have institutional money jump into crypto rather than the average person.
The stock market is mainstream, but it's not a good idea for everyone to jump into it.

One of the reasons why I believe it's bad is because it brings so much volatility.
Inexperienced traders always cause the market to become unstable.

I don't know, but I will point out that this very site, the largest discussion group of crypto in the world has a very large percentage of people discussing gambling all the time, it has its own section. And I've noticed a LOT of people here confuse gambling with investing. So it wouldn't surprise me but 60% seems awfully high.

•Investing and gambling both involve risking capital in the hopes of making a profit.
•In both gambling and investing, a key principle is to minimize risk while maximizing reward.
•Gamblers have fewer ways to mitigate losses than investors do.
•Investors have more sources of relevant information than gamblers do.
•Over time, the odds will be in your favor as an investor and not in your favor as a gambler.
https://www.investopedia.com/articles/basics/09/compare-investing-gambling.asp

Isn't trading also considered betting? I mean, when you buy a coin (LTC for example), you are buying because you are betting the price will go up, right?

If you count gambling and speculative trading, I suppose the figure would go higher than 90%.

I think betting is not bad, it depends on the bettor, but do all countries in the world accept betting ?
Does it make someone lose their property?

This is quite a common thing that gets into discussion often. There are people who take it in the positive manner as well in the opposite way. For users who take it negative should know about bitcoin and it's early days of growth. Gambling industry is the one that helped with the growth through circulation during the early days when it struggled for growth. Now the situation has changed, yet the gambling contribution is massive for which one cannot State bitcoin to be bad which is truly the lack of true understanding about bitcoin.

Betting is not bad, there are many of those in this world.
It is ordinary to people that they do that especially in sports.
What it makes better with crypto betting is the fee and the percentage we dont need to pay for the bankers.
Also it allows us to transact faster and cheaper.

Maybe you are talking about gambling Dapps right?
I do not see any problem here, they are provably fair and some of them offer bettors earn passive income, so what is wrong?

I doubt if what you read on that, article is true, 60% of the entire crypto transactions can't be used for betting. Where did they get those claims from? Well, even if that's true, people decide what to do with their coins so it's not bad per say.  The bad aspects where crypto is used will be for demanding ransom in cases like kidnapping, smuggling funds etc.

I don't agree with the OP and the article ( I don't know which article is being talked about. ) I think the percentage is much lower. But let's assume that percentage is right. I think the OP is calling this a big problem, because cryprocurrencies have not been created for such a purpose. Even if the OP is right, again you are right. Because even if cryptocurrencies are not used for gambling, for now they are not supposed to being used for their main purposes which is daily buys and sells.

A lot of us are on the fence about this one, gambling can be a fun side activity if done in moderation but some people take it too far.  Now this forum is crawling in gambling advertisements because they have one of the best business models.  They are always profitable when they have enough customers.

Some people say that cryptocurrencies are used by drug dealers to make payments between themselves. Is cryptocurrency to blame? People themselves are free to make their choice.

What's the difference? What's wrong? if people are gambling, they will at least put stones on bets. It's a disease) And if you claim that 60 % of transactions are used for betting, what would happen if there were no bets?)

I don't think that betting or gambling as an activity could be a threat to cryptoworld as long as peoples win. Imagine that 1.000.000 gamblers invest 10 usd into a betting company using bitcoins/ethereum as a mean of deposit. Imagine that these 1m peoples lose their bets.. that would be 10M$ lost in Bitcoin/Ethereum. Now, imagine that this company has 10M$ worth in crypto, imagine that the same act gets on place in another companies and peoples keep losing funds.. the big companies will have lots of crypto and they will be the whales .. Crypto will never remain decentralised.

It does not portray crypto in a bad way and if you observe the crypto market very well you will notice that majority of betting projects tend to do well and that is because there is high demand and use cases  for them.

Gambling in crypto is not a bad thing. It's just that one way to produce crypto in addition to investing or trading. So there is nothing wrong and nothing bad in gambling to produce more crypto.

If the assumption is even correct, I don't see what is bad in that. The world is changing daily and people don't go offices before they live a good life these time. If gambling is one way that people make money, they won't burge to whatever form that because the medium.

By and large, the category of people who bet with the help of cryptocurrencies will not react to the article you are talking about.And people far from cryptocurrencies will simply bypass this article as it does not affect them.In General, I can say that the figure of 60% is overstated.But even if this is the case, I'm still glad that the cryptocurrency has a demand (even in such a direction as gambling)

Yes, it's everyone's business what to do with the crypto currency , I do not see anything wrong with this , but somehow it is unlikely to affect the crypto currency , since it is created for anonymity to a greater extent.

What makes you consider that crypto for betting is a bad thing?
Well, the crypto world is for all types of sectors, it depends on every coin that is used, for betting or other payment methods. In this case, we can see several cryptos only for betting. As long as it has better utility and worth, why not?

No it does not. You are just over thinking. Why would it portray crypto in a bad way? Why do people think gambling is a bad thing? It is not. It is just a form of entertainment (unless it becomes an addiction. Addiction to anything is always harmful). People gamble using fiat money. Does it portray fiat in a bad way? Are people concerned about it? Nope they are not. So let us also not be concerned about crypto being used in gambling.

I dont see anything  wrong if crypto is been used as means of payment for any gambling source infact its another form of usability  that makes lot of sense,i remember when i start hunting for airdrops the tokens that pays me are gambling tokens and i was able to change to usd easily

If the article is true it is normal, Encryption created in order to provide and facilitate services, We cannot judge gambling service as illegal.

I agree that crypto is not just about betting but many business sectors are encroached on by cryptocurrency. Indeed many projects are targeting betting but that is not a bad thing because in some countries betting or gambling is legally legal. If you think betting is bad, choose a project that is not targeting betting because there are still many investment options in the cryptocurrency market

First, can you share that article with us?

For me, it's not bad at all, gambling is not illegal and with the increasing demand from gamblers all over the world, that would help for the crypto industry to grow. That is not a problem at all, in fact, it's an opportunity not only for business operators but also for gamblers where gambling in their country is illegal since with crypto, one can gamble anonymously and he can enjoy with different platforms in the gambling world.

It depends on the human being on how he will use his money and where.

Look, Casinos are being made legal and they are all over the world. It is like every country have a place to where they could spend their money with gambling it.
It have a good market. Hell, even the Lotto games are legalized by the government for them to make profit out of it.
It is just the same with crypto currencies for it is also money.
Too much thinking about that will just stress you. Just pick the right gambling site. You can click my signature if you want to try dicing.

Betting or gambling is one of the reason why crypto is becoming more popular, based on personal experience, I can testify that I was here in the early times because of gambling and because of my love in gambling, it help me discovers a lot of money making opportunity and until now I am still gambling but not too aggressive like the past, I learn that gambling is better to be treated as a fun activity.

I also do not have any problem with it. Most of the coins in the market are used for nothing. In another words, they are not being used for what they are created for.
Some of coins have been used at least for betting. So far coins are being used for speculation or anything others.

Can you please share that article, because we don't know how relevant is that article and what kind of info they used.

But even if it is true, i don't see any problem with it.More use for crypto, the better.

I do not have any qualms about crypto being used for gambling. To be honest, cryptocurrency is a form of digital currency and its owners are free where to spend and use it until their usage affects and encourage illegal activities. As far as I know betting are allowed in many countries. So I do not have any problem with it.

For those saying that developers needs more time to create useful applications, what else do you want them to create?
Another means for people to spend money or what? Cryptocurrency is used mainly for gambling and that’s how it’s meant to be since it’s not some real money, it’s just a means of transaction that keeps people anonymous and that’s something that gamblers likes a lot, so they will always jump on it and use it for most if their transactions.

There are already lots of gambling sites popping up every single month and claiming to crypto online casinos, and there are also lots of people making use of these sites to gamble and as usual, there are lots of them that are losing their money every seconds, because the house will always have a better edge over the players, which means that the players has less chance of winning. Even those of them that claims to use strategy, that thing never works based on my research. They are just relying on luck and they think strategies are helping them, lol.

I do not think that figure is valid, when did they start cryptocurrency gambling that it will take 60 percent of crypto transactions, I have been transacting crypto for long but never for once used it for betting, and what about you? Have you ever used crypto for betting? So where is that figure coming from? We have lots of gamblers and I didn’t doubt that but I think majority of crypto transaction is just for holding and for traders that are using it to trade on a daily basis.

Gambling is also a business, and we have some legal gambling, so even I it is used for gambling, I don’t think it is still a bad idea, probably that is the industry that see the usefulness more, while others are yet to explore the opportunities that are available in crypto for them to apply it to theirs.

Betting is one of the most famous directions in crypto currencies and I must say one of the most successful one. There are already several betting platforms that are working and already competing with centralised betting giants.

Have you ever been to vegas?even fiat is used for gamblings and it doesnt give fiat a bad name or whatsoever,any means of exchanges that can be use to trade can be use to gamble as well,people use gold chains and wrist watches in gambling as well in real life so i dont see anything wrong using crypto to gamble

Personally, I don't care with it, people are  free to choose their way. Get some crypto for betting in gambling site is one of famous and faster way to get more income if you luck in it. Usually its using by person that has been frustrated with trades in market, so much loss, or etc. So, they put all balances and get roll the dice to get profit.

Betting equals to gambling and if 60 percent of crypto transaction are been used for betting then its actually a good news because betting on its own is actually a form of real use case and betting is not a bad thing at all,only the greedy ones get rekt,people do bets with fiats as well as crypto too

That's so high, it looks like gambling has dominated the overall transaction in crypto.

I believe the gambling transactions are big and even getting bigger but I don't think that big, but anyway, we know it's significant in numbers and it's a big help to the crypto industry. If that is bad, majority of the gamblers will not gamble and the industry would not grow, what we see now is the opposite, so that explain the real status. 

Betting is not bad, but there are some betting that is against the government policy of some countries, but betting like sports betting are the ones that are basically being accepted by most governments, and I think you are right that it will continue to help the bitcoin community to grow if we can have then use the currency as means of payment and receiving rewards within that particular betting system but I do not think that the percentage will be that high.

The percentage of the money in cryptocurrency market will be more of whales, investors, traders and merchants and if betting will actually have a portion in it, I am sure that it may not be more than 15 percent of the total marketcap  of bitcoin, but this will increase as more people uses it.

Cryptocurrencies can be used for anything and included for gambling. Each country has different regulations on gambling. For gambling, my country is strictly forbidden, but Crypto is not banned because until now it is able to provide a good opportunity to make money by trading. So I also do not argue crypto though it is used for gambling.

Gambling is a part of life and while many people earn a lot from it, some people just do it for fun and I don't see any reason whatsoever why it should portray Cryptocurrencies in a bad light, if anything, it's a good thing because gambling is part of mass adoption that we have been waiting for, the blockchain is now used for diverse things and while gambling is one of the major things, there are other things as well that do not require so many transactions per day but are still no less impressive.

That is not a problem in anyway. Do you know how many gambling blockchain platforms in existence? I have seen many.
So to me, I see gambling platforms as one of the platform in this crypto space, thus using cryptocurrencies in betting is another way of paving a path to crypto adoption. Instead of using fiat to pay, players use crypto, so there is no issue whatsoever.

betting is a huge business not only in crypto space. i dont see anything bad in this, as long as everyone who use it for gambling can manage himself.. but where does the number comes from? 60% ? i cant really imagine that this is a valid number.

No, I don't think this is a problem for the crypto rather Betting is one of the major parts here. For the betting, a lot of people joining into the crypto industry, day by day betting game will be more popular! If you don't like betting then do a trade or do bounties. You have many options to go through!

Our whole life is a bet.  Every day we put on something.  For example, on an exchange, you bet on different coins and choose which cryptocurrency will give a win today.  On the gaming platform, in my opinion, this is the most relevant and promising type of activity.  So I don’t see anything wrong with that.

I tend to see it from another angle and that is, these betting us actually exposing the uses of cryptocurrencies to world; that is, let the world know that in addition to transfering whatever coin to another user or holding it, that it can also be used in betting. Therefore, I can say using crypto in betting poses no risk or any problem, nor does it speak bad of the crypto space.

While it is not certainly the most humble thing to present, this proves that the use case exists, even today. Lottery is actually a nice thing to start with. Trustless blockchain technology brings us fully autonomous lottery which can not be manipulated. Every participant knows he has the same chance as everyone else. I can not imagine how stunned will people be when they realize how it's most valuable feature can improve current systems. No middlemen, no secret fees. Just you and your business untochable by others.

If one is to ever talk of one of the most interesting application of block chain, betting is part of it. So many of these platforms use block chain based tokens or coins for every activities on their platform. It is therefore a easy of bringing value and more adoption to cryptocurrency and block chain technology in general. However, you need to be conscious of which to partake it. Which means that, not all bring value to crypo, but at least larger percentage.

Gambling sites were one of the first functional platforms that used cryptocurrencies, one could argue that they are somewhat responsible for their success.

I remember playing at dice sites like Just-dice back in the day, without that site I wouldn't be here today participating in the broader blockchain ecosystem.

I am not aware of this data, but I do not see why blockchain online betting would be a threat to cryptocurrencies, as they are driving crypto-economy, and we have a relatively free and decentralized market.

I don't know why this could be a problem  ???
I know some exchanges don't allow deposits from gambling websites, but I can't find a good reason to become a big problem as you said
There are a lot of countries where gambling is legal, and things are changing in technology, everyone can do what they want with their money, and this is not illegal nor antiethical

Nope nothing with crypto use for gambling or any betting, even the paper is useful for betting or gambling legally or illegally speaking. We have freedom what they want to use  our money and I do not seen a bad way using crypto in gamble because as new form of money is normal to use anywhere payment or ise in the gambling etc. that's is one of the benefits adoptin crto,to use it with freedom anonymously.

Gambling is legal in many countries. Also, there are many different legal platforms in these countries. But there are some differences between these platform and gambling websites that are using cryptocurrencies. One of the main differences is performing KYC. Authentication is mandatory in legal gambling websites. Another difference is legal websites are more safe. They cannot run away and scam people. Another difference is taxes legal websites pay to governments.

Cryptocurrency is used for even worse things. So betting is not the worst thing. I don't see any problem with that either. This also helps people to make a profit and also requires brain activity. I bet sometimes, too.

Just like fiat is used in betting in most traditional systems, cryptocurrency is used for same purpose, so does that make fiat a problem? I don't think so, same is with cryptocurrency. If you study the nature of cryptocurrencies now, you will see that in almost all the areas where fiat is used, crypto is used too. Using crypto for betting doesn't endanger or cause problems for the crypto space rather it is being exposing to more users.

Betting is not bad, but I don't agree with your statement that it helps people to make a profit, it does not work that way, gambling is an entertainment, most of us enjoy and most of us loss, and that makes gambling sites more profitable because the adoption in crypto gambling will increase over time.

For me, it's us who control ourselves, gambling sites are not forcing us, they are here to operate and offer us fun, so let's just be responsible.

It is a true statement, gambling needs to be given importance as a fun or an entertainment source. One should never prioritize gambling as a source of income or a way to earn. This I've realized from my real life experience. It always tempts us even when we're experiencing loss we should have the mind to control ourselves.

Why in bad one? :) Crypto is just very convenient payment system for such cases, no wonder that gamblers and cappers are using it. It's just the beginning of mass crypto adoption :)

few people accept this responsibility and as a rule, people who play casinos are obsessed with it and they don’t know when to stop. therefore, if you look from all sides, then it is hard to see something good

Betting is not big and bad problem in crypto. There will always betting in any other way. Betting is suitable in crypto because of crypto is very easy to use for payment, and also still no need regulations.

I see nothing wrong with that. Is there really a problem? Cryptocurrency, as well as fiat currencies, can be used for bets.
There is even a special service for bets made on the blockchain - Wagerr (https://www.wagerr.com) (I myself sometimes use it).

Cryptocurrency has many characteristics that are suitable for the betting industry as it is highly anonymous, easy to trade, if you look at the fact that the most developed dapps are related to betting games. Cryptocurrencies are used for illegal bets I think is the problem.

Well if we say crypto is use for betting ,
what we also use money for betting
the only difference is that its digital
I dont see anything wrong with that,
what is bad is too much spending and betting
will result to bad things, so what we really need to do is less spending and keep on saving, because we are now
slowly going to digital, and we might be using less paper bills
since crypto is slowly, getting introduce to the people
its only a matter of time

Why it should be bad? I think that crypto currencies can bring a lot more security into betting, because it is always clear stated on blockchain and you cannot hide any secret fees that betting companies are likely to add.

I guess the betting includes cryptocurrency trading or price speculation.. Even price of fiat currencies are speculated on by traders. You can't do much about it unless you make everything stable so that fiat currency fluctuation is no longer based gdp & economic strength.

I agree I don't see any problem with that as long as they use their own crypto and not stealing to others. But I can say that this is one of disadvantage of usage of crypto because government did not like that kind of activity so they did not gave legalization. And all we the real essesns of crypto is not betting or gambling but to make our life easy in terms of paying and online transactions.

I think this is bad for people and not for the cryptocurrency market. so many people lose their money because of the excitement that they have.

I think crypto for betting is good because this is a legal business in many countries. It will be a problem if crypto is used for illegal goods transactions and this will make the cryptocurrency image worse in the eyes of new investors.

Betting has been in existence even before crypto, I don't think it's an issue to crypto. People who indulge in betting already know the level of risk involved, it's a 50:50 chance of winning. Since no one is forced to involve in betting, it's not a big problem for crypto in anyway. Moreover, some few people still get lucky with betting.

In most places there are difficulties in accepting crypto as payment so gambling might looks as most used place of cryptos but it could change any time when more places started to have crypto payments.

Speculation is what literally moves cryptocurrency space. Prices of coins/tokens are not known its not backed by anything except the speculating powers of individuals who are key players in the market. Betting is not long lasting that's why its effect on crypto is dangerous it keeps fluctuating every now and then to an extent I think that's why there's mjor volatility in cryptocurrency.

that's one of the cryptocurrency ecosystem, and now many people are launching their betting/gambling platform using few Blockchain like Tron, Ethereum, EOS.

this is a good, because by using blockchain broker can't cheating user in gambling because broker don't have the decentralized of the platform

Crypto has enabled people to freely gamble online. Fiat has different restrictions based on the origin of gamblers country.
Though gambling itself is not a bad thing, crypto anonymous transfers has fueled illegal activities like match fixings.
With no means to track the origin and destination of transactions and their owners, there are many illegal deals among players and bookies that never gets the light.

IMHO I'm not sure if it surveys is relevant, betting on btc blockchain is very slow, and the most eth transactions are interactions with smart contracts, and DeFi

Betting is not a threat to crypto and with betting platforms that are using crypto i think they are actually helping, its another effective way to make crypto more useful, its one of the reason i like betting projects, its really hard to see such project become useless

is this a jok or what cos i dont know why u will think every transaction in crypto is for betting and that make crypto a bad thing to the community but i see everyone who use their future to bet as nuisance cos holding it till live time is better than betting it to which it can be lost.

Betting is just a form of a game, it is involved in almost every depart, and it is just a form of gambling. The truth is, most of the crypto is used for gambling and betting of sorts, and this will make crypto more popular and widely accepted. More new people will come to know about this amazing world, and the crypto world will keep on growing and increasing it’s withholding.

Gambling is just another way to spend your money. But blockchain can extend this use in different ways.

For example, staking the token of the platform and gaining passive income is one of them. Nowadays none of the traditional casinos gives you this opportunity. In fact, no casino allows you to gamble in an anonymous manner.

The expansion or adaptation of blockchain can take place through gambling, I have no problem with that. We live in a free world and people are free to do whatever they want if their habits do not harm society at large.

If peoples think cryptocurrency is used for betting, then it is no problem because that is just their point of view.
They will change their point of view if they look crypto closer, follow the project in the community and observe the crypto market.
So i think this is not a big problem for cryptocurrency because that is just a personal point of view.

Bitcoin which is used as a gambling tool at this time will not destroy nor affect the reputation of bitcoin, instead Bitcoin has now become a sweetener in online gambling facilities. Then with Bitcoin used as a means of gambling can uphold the name of Bitcoin? The answer is no. Bitcoin can be destroyed if there are parties, personal, organizations or anyone who denigrates Bitcoin by making Bitcoin a means of scams, fraud and so on.

bet what you mean, is it some kind of gambling project? I don't think that's a problem because investing in this market there are many ways to get profits. but if the story is about misuse of transactions such as the sale of drugs or other illegal transactions this is a big problem and has an impact on the bad image of crypto.

Most likely, this was outdated information. When tokens began to be created, really a lot of them immediately began to be used in the gaming business instead of tokens and chips. It was very convenient and it seemed that the institution was following the new technology and introducing it into itself. Perhaps at that time there was information that 60 percent of cryptocurrencies were used for betting. Now there are more than two thousand altcoins. It cannot be that more than a thousand of them work now in the gaming business.

Definitely not, even without crypto, there is a lot of them all over in the internet using cash or cards.
Even without the internet, we are living the world full of gambling not to mention LAS VEGAS.
Now we are with crypto and gambling is normal, I might put my crypto there than to invest in a scam project.

What's wrong with that? almost every transaction that's held with crypto is becoming bad in public view. This isn't a problem, in fact that the crypto gambling industry has contributed big to its potential. Before that there's no use to crypto, people talk about it and question its potential. And now that there are services and transactions made to it, now those transactions are being questioned if its okay. Grow up, crypto transactions are decentralized.

Let me start by asking a question, is there anything wrong with using fiat for betting? Does it change the nature of fiat? The answer is NO. So in the case of crypto, I do not see anything wrong with its use in any way seem fit instead it ends up widening the use of crypto while attracting more attention. What you should know is, most people spreading all these unwarranted news about crypto are those who are yet to gain the knowledge of what crypto is all about. Am glad that apart from betting crypto is also finding wide use in various platforms.

Reality in this world even without crypto gambling will exist, there's no point to think that it will reflect as a bad things to this system, better to think that it will be a good one since gambling system needs security and if crypto will excel then it will be notice not only by the gambling industry but also with large businesses who will also see the potentials of this system to integrates with their existing one.

Gambling and betting are involved in crypto. Yes, it does give crypto a bad name, but betting is involved in almost everything in the world, so it is just a normal thing, and people should accept it. Many projects work better when betting is involved, just a thought.

Betting is not a problem as a whole in terms of transaction. generally all betting transactions are internal to the gambling infrastructure of institutions.

The real problem is addiction, and with anonymity one can hide behind PC and can easily get addicted and he wont ever able to find this. The bitcoin or crypto gambling is thriving just because they are able to get people bet on any events.

At the expense of using such a large percentage of cryptocurrencies (more than 60 percent) for betting, I doubt it. But 95 percent of cryptocurrencies are used for manipulation, of which I am sure.

As a full time bounty hunter i always get attracted to gambling projects, as a matter of fact many of them pays well in the past and many people always use their platform, i guess many people like trying out their luck, i remember making big money from bethash and blockstamp project

As long as it is used, specifically for betting and gambling, i wouldn't worry too much. It counts as real world adoption and thats whats important because it further proves to strengthen the value of cryptocurrencies as something of value in the real world.

Besides, that article is most likely false too anyway, 60% is too much.

Though you mentioned that you able to earned big money out from gambling/casino house project, there's also a lot of unsuccessful projects that being introduced. In the other hand, it's enticing to participate with developing teams who already have a finished product to offer  there's a  potentials to become successful since platforms itself will attract investors and from that good beginning a lot of things might happen along the way.

Some years ago the majority of the gambling sites are using fiat as a means to bet online but nobody thinks it portrays fiat in the bad light, Using Crypto in gambling makes things easier for operators to operate and receive deposit and gamblers to track their deposit and be anonymous, you must understand Cryptocurrency can be integrated to various business and industry, it so happens that makes it 's way to gambling this early and this easy.

In what way does it portrays bad for crypto? Don't you know that gambling is part of what makes cryptocurrency survive? If you look into it, most of gambling sites which accepts cryptocurrency is successful unlike any other platforms.

I do not agree with you.
I think people can do what they want with their personal money. This can be gambling, trading or paying bills and so. The money we use today in real life can also be used to gamble and nobody can say that paper money is bad. We can not think about the money that gives us the freedom to put restrictions on us. Freedom is complete freedom and some of the ideas of some is not valid.

Firstly, I'd love to see sources. What are they classifying as betting/gambling? I bet (no pun intended) that it is a much wider definition than what most people are familiar with.

Secondly, I'd say that if you look at any fiat currency, the majority of transactions are by volume are probably also flowing in the financial sector. If included, it could be classified as financial gambling.

What people do with their coins is none of our business, and whether or not coins are used to gamble shouldn't be our problem either. With mainstream adoption increasing, this problem will solve itself anyhow.

I think that those sources aren't that legit. They have made up numbers.

Many cryptocurrency project build with betting platform and almost 70% many ICO or IEO always have betting form, its why many people dislike for investing or joining at the cryptocurrency investment because many people still dislike about cryptocurrency build using betting way for getting investor.

Its actually depends on a country for a country such as mine it is illegal to play online gambling . So it will be difficult for us to convert to fiat our earnings from gambling. we need to use mixer to wash the btc but still local exchange  will questions were the money came from since exchange is regulated by bank you need to prepared .

You can use cryptocurrencies to play gamble, invest, education, decentralized storage etc. There are now thousands of blockchain projects on the market. Because you can do whatever fiat do with cryptocurrency. I think it would be wrong to establish a direct relationship between cryptocurrencies and gambling.
Cryptocurrencies can be used in any field, which field you use and which you use is your choice.

Well everyone is free to make whatever they think with their crypto and bitcoin in general. Its true that gambling sites have a lot of volume from sports betting to casino and even dices but this won't affect bitcoin in a bad way and mostly this will increase partnerships with Sports Teams ( Example : Watford with sportsbet.io ) and if I remember well Dogecoin had a Nascar partnership and even in Olympic games they supported Jamaican team.

The actual problem are those who simply bet with crypto instead of going to their local betting stores and use local currency as now at this prices if you bets lets say 50$ in ETH/BTC maybe in 1 year the same amount of crypto will have increase value maybe 100 or 200$ so its a double edge gambling and the only winners in time are the betting houses and a perfect example would be this : Bob bets 100$ in btc and he looses and house wins the bitcoin ( 100$ ) and in time they actually win (200-300$). When the player bets 100$ to win 300$ its not the same as they could simply hold and win the same amount without any bets.  8)

I don’t think in any bad effect here if 60% crypto-currency transactions making for gambling issue. I considered panic/greedy trading one kind of the beating. Impact there are a lot of cryptocurrency platform developed by gambling. Such as:-
https://www.crypto-games.net/
https://stake.com/
https://m.fortunejack.com/
https://sportsbet.io/
https://www.cloudbet.com/en/
Those are most reliable & transparency beating sites. You can used here more different crypto-currencies.    

It is another use case of cryptocurrencie, so why should it be bad? I see the future in decentralized casinos because they offer much better betting conditions.

I don't see anything wrong with it either, you can use fiat to pay for any services and no one will question you then why is crypto different? Crypto is used online thus if I come across any services which can be paid with crypto and I decided to use it, I don't see anything wrong with it. Betting on the other hand is growing in this space with most platforms either having their own coin or using other cryptocurrencies therefore you can see its use is growing tremendously even in the betting Industry. So to your question, it doesn't portray the crypto space in any bad way

Theres nothing wrong unless those online Casinos are government compliant and legally operating. But I doubt that 60% is used for betting it could be lower I guess. The fact that cryptocurrency is like money it can be used anywhere.

Cryptocurrency is a digital asset, which is mainly served as peer to peer buying and selling in the crypto community, hence using a crypto as placing of betting in a bet platform,i think nothing is wrong about it. But bet responsible on the game.

Many betting platform in cryptocurrency make some investor dislike with cryptocurrecny, there are many betting game using cryptocurreny to build their product like TRON or TRX coin have betting system platform, I need cryptocurrency keep away from betting platform because is not coherence with our religion.

We all have different aspects, we can see betting in a bad way or in a good way.
But for me betting is not actually bad, it is somehow helps to circulate the crypto by having transactions.
Betting is not about gambling, it is also for fun. Its not that bad, how people see it does.

I am not sure that this percentage is right, I think it is much lower. There is nothing wrong or bad in gambling, it is not illegal. Moreover, it would help for the crypto industry to grow with the increasing popularity of gambling all over the world.

Not only the gambling industry, the big effect is it will be able to produce real adoption as these gamblers demand of crypto will grow.
Illegal gambling is only the problem because the government can't impose tax on it, illegal or legal, or non regulated gambling sites, they are still the same when it comes to their offers, they offers entertainment to people but those that are not license, they can mess up with the government as surely the government will always want to get their fair share.

Some governments like to block the foreign transactions for online gambling and they forward the online gambling users to the local betting company. The reasons behind the popularity of the crypto transactions in ht online galbing sites are good for the customers but local companies don't like to see decreasing customers. It is illegal in some thrid-world contriues to make payments in online gambling sites and thanks to the cryptocurrencies which solved the mentioned problem for them.

There are now thousands of gambling sites in the world that are not blockchain-based. These gambling sites even sponsor football teams. And no state sees a problem with that. Even the states themselves allow users to make sports bets.

But when the blockchain gets involved, does that seem like a problem? Even his argument is quite funny.

Every human being is free and has the right to evaluate fiat assets or digital assets as he wishes.

it's true that it's not good, but we need to see that crypto has a big influence on everything. Don't judge crypto from one side, but look at the use of crypto and also the positive effects or impacts that we can take on any project.

Nothing wrong from that, using cryptocurrency as betting just because cryptocurrency don't have much option function like for buying food or something that aggred by their national or goverment. And Bet site or coin also being populer project for now

I don't think is a problem for crypto ecosystem. If you just take it as a game its fine. And I think it helps circulation of crypto too. But I also like to have some more use case of crypto than gambling.

As for me, it is not a issue to bet in crypto, but to be obsessive in betting is an issue. Gaming is a big business and it's going to be a large boost in the crypto industry if it's achieved by experts.

How does betting portray crypto in a bad way? The buck of betting is carried out with fiat, safe to say that betting has portrayed fiat in a bad way. People spend their money however they want, as long as it's not illegal it shouldn't be a cause of worry to others.

Betting is not something that is restricted or maybe limited to crypto alone. As a matter of fact, buck of the betting is done using fiat. The bad thing here is not betting in itself, but whether or not anyone involved in it is addicted to it, Addiction can cause bad decision making, which can in turn lead to making some losses financially. bet if need be, but ensure it doesn't become an habit. That's where the problem lies.

Any ideas how to stop betting platform in cryptocurrency, every where I got new IEO and ICO have support and basic betting but I am moslem and never want to be part of betting ICO platform project with have not allowed with my country for joining on betting project, I want to join ICO or IEO have connection with energy.

It really depends on the person's way of looking into gambling. If gambling is not one of your likings, then definitely what you'll see with crypto is it's relation to something illegal. However, if you look at the core nature of crypto and even stock markets, all of it are really a gamble of themselves. You risk by investing, the same way you risk by betting. It's no different to each other, it's just that gambling is associated with games/entertainment and luck while investment is often related to something you could get profit in the long run.

What is wrong with that? I do not see anything wrong with the use of cryptocurrency for betting. I say cryptocurrency is being used at least for betting. Most of coins are being used for nothing so far except for something like money laundering. It is high time implementing actual goals of crypto projects.

If you come across any crypto betting platform with promising teams do not hesitate to give a try, some said many crypto betting projects died a painful death but the few ones i have seen are doing well than other projects because the demand is very high, its a hugh example of real use case and crypto gambling can indeed help adoption rate better

I don't see anything bad about it. Maybe if one will look at it in a religious point of view. Online crypto gambling is famous and I think some crypto investors are here and still in crypto due to gambling. I don't think it is illegal to gamble online so crypto betting being part of the majority of transaction is not something that would harm the whole crypto.

Yes,,, I know a lot of people look at us gamblers as something strange,,, but we can never deny that it was us gamblers who really made the first full use case for blockchain and crypto. Until today we enjoy the things we take for granted. Small bets (try gambling 1/100 cent in a casino), autobets, and most of all provably fair.

But one day, I hope people move away from this headline of adoption and find that we also use crypto for so many other things. If porn and gambling and hate groups are not a big problem to internet, why should gambling be a big problem to crypto?

Several years ago was a popular site Directbet. It allowed users to deposit huge amounts in BTC, ETH, DOGE without creating deposits and KYC. For obscure reasons, it closed at the peak of popularity. Today the number of sites for betting is quite large and many of them require creation of account and filling some personal data. These procedures only harms the spirit of betting with cryptocurrency, because I don`t see any need in giving my info to 3rd parties otherwise I could use regular betting companies with fiat.

I real love crypto casinos. They are provably fair and there is a option of passive income. More you bet, more you earn tokens that allows you to participate in company´s profit.

Betting is as gambling we cant guarantee earning but we still try since we can earn faster as usual if ever we win. I guess it will depend on how our conscience dictate us mostly it is not allowed in many religions online or physically but if we know in our mind that were getting the money we play with then It is fine. Just don't bet amount you only have, don't risk all in betting even it is tempting due to market condition that we need patience in waiting before we earn since the market is still in bearish season.

Betting is not a problemin cryptocyrrency,but it can be a problem if you play it and lost all your fund without any wins. Your just wasting your fund if ever it happened. Placing a high amount in the bet and lossing also can lead you to a big problem at least you have your back up if your fund goes down but what if you didn't have? Thats the main reason why several people treating it like a problem.

Nope, even without cryptocurrency gambling and betting is all over the internet.
Even in real money there are casino and some gambling house.
As long as currency exist, what ever it is it will be use for everything.

the use of cryptocurrency as a tool for playing gambling is no longer a secret. Some countries even have their own regulations about this like japan. although according to research that quite a number of countries lost due to gambling games, but it is still being done. in addition, even though they have regulations about it, gambling games based on crypto continue to grow, as said in the article available on the cointelegraph (https://cointelegraph.com/news/how-crypto-gambling-is-regulated-around-the-world)
that is the reality, even in real life some people also describe fiat as a means of playing gambling. You have to get used to it because this can also be found in real life

For those of you interestied in gambling and crypto, You might like to take a look at what Kamari are working on.
This recent article is a god place to start - https://www.cio.co.ke/will-blockchain-make-lottery-fairer-in-african-countries/

That's not a correct way on how to describe in gambling as we all know that we can never win all the time in gambling and despite of losing we still gamble because we have fun. If we are realistic, we will know that gamblers loses more than they win and that reality alone will make us lose in the long run, and therefore we should know how to manage that on ourselves, we can lose but we still enjoy, that's the thing we should do.

Are there so many bookmakers and exchanges that accept bets in cryptocurrency? Why do people use cryptocurrency for betting? The first time I hear about this.

Yes, there's a lot of good sportsbook in the crypto space.
You can check on the list from this site http://100bookies.com/bookies-that-accept-cryptocurrency-eng/ , and just try to find some feedback in this forum.
I don't know if that's updated but you can check it yourself.

Because it does not require KYC, it's faster and cheaper.

What people choose to do with their money is their business.. same goes for crypto... I dont see why the crypto community should be bothered about this... infact it should be the other way at heart..

I think gambling very much uses cryptocurrency platform and this makes many people think that cryptocurrency is a place for gambling, while cryptocurrency can be used to make payments or long distance transactions so that sometimes technology is used poorly and makes the cryptocurrency platform worse.

No, not at all it's just part one of the big pictures, it just telling us that Cryptocurrency has conquered the gambling and gaming business because it is very much compatible with gaming and gambling hub, soon all gambling and gaming hub will use Cryptocurrency after that the merchants store will follow, it's normal part of adoption

It's more than half if we will talk about 60% therefore it really portrays a bad way of using the crypto especially to those country's that prohibit gambling using crypto currencies.

But for some country's that didn't see it as a big issue then there is no problem with it and for the individuals, I am sure betting addicts loves it and for betting haters they have a problem with it. I am just hoping that big governments will not go against it as it will be a problem in the future if they will totally ban the crypto currencies because of this reason.

I am intrigue with the title of your thread. Crypto-gambling a big problem to crypto? No, i don't think so. In fact gambling using crypto increase it's popularity in the community and help advertise crypto in a good way. Betting with fiat or crypto is just the same as far as morality is concern. Gambling is already an accepted activity worldwide not like decades ago where they portrayed gamblers as a villain.

It doesn't to a large extent most of these claims are made to discredit cryptocurrency and label its use badly. People keep saying its mostly used for carrying out corrupt and crime related payments. Even fiat serves the same purpose.

I have to say no. Online gambling is a giant industry with crypto betting only taking up small portion of it. The revenue of the global online gambling industry has been increasing by double digits every year for the past seven years. In 2016, the global market was valued at $44.16 billion and it is projected to reach $81.71 billion by 2021. I say bring it on. Adults are free to make their own decisions and if they want to play let them play. Responsibly.

60% is a huge number which I doubt the statistic is accurate, even though it's, people definitely have an exclusive right to how they spend their money, provided the things they spend it upon is not against the state law.

When cryptocurrency at the future never have gambling platform for their ICO or IEO? I got many altcoin have success in ICO or IEO and listing on exchange market have gambling platform and I keep away not only on IEO or ICO time but on trading I will never buy coin using betting platform, how good chart is it I will never buy in gambling altcoin platform.

This is not a problem at all, because there are a lot of people who bet and it’s good that you can bet using various cryptocurrencies, because this increases the demand for cryptocurrency and this demand is constantly growing, I also saw that there are a lot of big companies accepting cryptocurrency for bets and there are more and more such companies, so this is quite normal.

I don't see betting as a big problem to crypto and its one part where more adoption rate is coming in, many bet platforms are implementing btc and eth which is a good thing, wining and losing is common in bets so we all know the risk involved in betting yet there are betting winners, its a cool thing for me

Yeah it's huge but it could be bigger than that as you can see in this forum there are so many online gambling sites as if they are the ones bringing life to crypto. I can't imagine if there is no crypto gambling, maybe bitcoin is less popular.



101 percent agree, that's the whole idea of crypto, you have the freedom to own one and do whatever you want to do with it.

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OP, i think this thread suits well in the gambling discussion board. Please move this one there.

No, it's not a big problem in the future every industry will accept or integrate Cryptocurrency, the gambling industry is the first to fall many more industry will fall but the big fish, will be the big merchants like Amazon Alibaba and the like I love to see many online companies accepting Cryptocurrency because right now there are so many coins to pick in the market.

I don't think that stats are correct. 60% of transactions are betting related? Please...

There are a lot of use cases for crypto. Investing, trading, spending on the sites that accept them, and sometimes betting. To think that betting single handedly takes 60% of the transactions? I don't think so...

you mean something related to gambling.
if it's like that maybe that's the reality.
because yes the price increase and decrease is very drastic even can be above 50%, I mean this has never happened to other commodities such as gold, stocks, mutual funds. Maybe that's one of the causes,whatever it is people will still use it as an investment.

I know that in 2013, 50%-60% of all Bitcoin transactions happened to and from gambling sites, and since then, apparently, over 3.7 million BTC which is currently valued at $30,249,868,000 has been used on betting platforms.... I didn't do this research myself. I only searched around until I found it written enough times to find it somewhat believable.
I couldn't find the exact percentage and I don't think anyone will ever be able to do more than guess considering that many sites practice safe crypto transactions by changing their user's public address after every deposit. Another thing to keep in mind, if BTC gambling transactions were at 50%+ in 2013.... Since the release of Tron, ETH, EOS and other's dapps, crypto gambling has increased exponentially. Hope that helps bring things into perspective.

But for the development of the gambling project, the reality is that this time it is not easy. there are still many challenges that developers must be able to face in the current conditions. I see so many gambling projects that fail due to a concept that is almost the same as other projects and there is no difference that makes someone interested in investing or playing

It is not difficult to guess why this is happening, before bitcoin if you wanted to gamble you could deposit your money in the casino but if you wanted to make a withdrawal even of just one dollar you need to go through KYC, this was a huge issue especially if you had won big in the casino and they used every excuse possible to not pay you, but when bitcoin appeared people realized that you did not needed to do any of that and you could gamble freely, and what is even better, the minimum limit was way lower on most bitcoin casinos which allows you to play longer and have more fun for the same amount of money.

I do not think that the numbers are right, but gambling is definitely one of the most popular use-cases of blockchain technology, because it revolutionise the whole centralised gaming industry and leaves no space for manipulations of providers.

I agree, the figure is too high, the gaming business is really very profitable, but only for the organizers, ordinary users like ordinary players lose their money, then mania begins, and I think that this is not the main purpose of using crypto

No, i think it’s not only gambling because people gamble and earn money but they should not just talk negative not only in gambling but also in investing and trading when people lose because of their mistakes so they start talking negative and spread bad news which effects whole market so people should keep patience and avoid mistakes than talking negative.

Even if it was right what's wrong with betting? Maybe it isn't the best use of money but it sure is a use. It's something all currencies in the world have been and are used for.
When people were using seashells to trade they were also gambling. Gambling is as old as the intelligent mankind.

It's not a problem for crypto but rather for people who live in a society in which gambling has a bad reputation.

The gambling industry has had the opportunity to become decentralized thanks to blockchain. In this way, the issues of user anonymity, privacy and security came to the fore. I don't gamble, but I also oppose restrictions on those who gamble. As long as everyone knows his limits and does not harm others, he is free to do whatever he wants.

Gambling and dapps are becoming more and more common. I don't think it's a problem, but rather I think it contributes to adaptation.

It is not just a problem exclusive to crypto. Crypto gambling is just much easier to do the traditional online gambling and you get faucets and promotions and the like that go along with it. Even some countries outlaw gambling since they think its bad for the people. I tend to agree however i belive in freedom and that if someone wants to gamble they should have the freedom to do so.

That statistic might be true, but so what?  Crypto, and especially altcoins because they have quicker confirmation times and lower network fees, is ideal for betting online.  I think it's a great thing that there are so many casinos where you can use alts to gamble.  I'm sure certain gov'ts don't like the anonymity that is inherent in crypto gambling, but it's freedom for the people.

Exactly what I was thinking.  It's an excellent thing that crypto is being used.  In the U.S. gambling isn't looked down upon at all, so it isn't like crypto's utility for gambling gives it a big black mark like silk road did, right?

Why this make you sure that betting isn't portrays cryptocurrency in a good way. Yesterday another betting site was active, so another new users will start using crypto. Their website is accepted all top coin with twice bonus, this is another demand of cryptocurrency.

Since betting is not illegal in most  countries i don't see as how this will be an issue for crypto. Crypto provides fast confirmation and a highly scalable network of which is highly beneficial for betting platforms. Crypto revolutionize the betting platform by decentralizing the entire system, if crypto can conveniently penetrate the betting industry it will go a long way to bring crypto into mainstream

There is nothing wrong with gambling, even if cryptocurrencies were good only to be used in gambling games it will still be a great triumph for cryptocurrencies, the gambling industry is huge around the world, if we could make that every single casino around the world to accept bitcoin then I have no doubts that the market cap will be many times higher than what it is now, fortunately for us bitcoin can be used for a lot of other things other than gambling.

as we know betting is popular games on crypto community, because as you said in few country is legal and make country profit from tax.
in blockchain community to, bet and dice is popular because people don't worry about the fraudulent from broker, because the plaform running in blockchain

   Gambling should be legal everywhere, it`s my opinion. Why to ban it? People are free to choose where they wish to
spend money for their entertainment. I`m a weekend gambler, I like to place bets on sports I watch from time to time,
I wouldn`t like someone to forbid me to do that.
   I don`t think that statistics are accurate. How can someone tell that 60% of all transactions are in gambling purposes? With anonymous
transactions it`s hard to make such statements, I don`t think that anyone can give information`s about that. And from number of exchanges
and volumes there, I think that more transactions are for trading than for gambling.

I don't think the question of what most crypto transactions are used for is that relevant. We are a long way from the end state for crypto, and almost every coin has future use cases rather than right-here-right-now use cases. There is a huge amount more to come from crypto, and I'm sure transactions will be for a huge variety of different things as the technology progresses and its adoption in mainstream society becomes common.

Gambling has been there since people started earning money. This was used for fun at that time and later they started using it as a stream for making money. Gambling is common all around the world and people enjoy it, so those governments that have made it legal have done great because in this way they have channelized money for taxes. 

not all of users or partisan with the business on crypto agrees as working on bot to helps as reducing waste on expends as users might keep on focus with the manage of work as the decision on occupying helps of tools and utility as preparing entrance into the table of gambling with the service from different developer as available on offers with the forum.

with uses of BITSEY BOT users might plays of dingdong on dice game with the Yobit service as reducing worse of waste on emotion as keeping on focus to manage of work on tasks with evaluation as moderating returns of drawing as the playing of bot on games with the Yobit service.

https://streethackerdiary.blogspot.com/

I don't think that is true, many cryptocurrencies are being used in a different ways, there are people using it as a payment method in some transaction, and there are also people that are using crypto to invest money in some projects that they want to support and earn money, but most likely there are lots of people using crypto in some gambling and playing some games on gambling site to earn money, some wants to enjoy but most of them want to earn money. But I don't think that the percentage really defined how many crypto is being used in betting because cryptocurrency has a lot of use and we all know that.

It's nonsense. Crypto is decentralized so no one is to be blamed for whatever its users do. Gambling is legal in nearly all countries around the globe. Those that consider gambling as illegal are centuries left behind and should ban smoking first than gambling.

No crypto gambling is not anything bad unless you are related with any illicit activity commited to crimes.Its only your viewpoint that what you perceive in bad or good way but crypto gambling has become a trend in the market and many new users found it interesting and enjoy this way.So we can say it has enhanced the business of cryptocurrencies in the world of online trade.

Crypto Currency is a form of money, so there is nothing wrong with it. It is similar to fiat money being used in gambling and elsewhere. This is why it does not describe crypto currencies because as you can see, it is also used for product purchase, transaction payment usage and much more.

Since when is cryptocurrency money? in my opinion it is wrong if our assumption of cryptocurrency is money. because until now cryptocurrency is still a digital asset not a digital money. it is not suitable if cryptocurrency becomes digital money with current price fluctuations

If you dont think that betting is bad why should betting be a bad thing for crypto in general?
it is not a bad thing in general , it is way better than misconception of crypto being a criminal tool which we know is only a small fraction of all txs.

Precisely. In fact, gambling is the one of best use cases for cryptocurrencies. Porn is the second one though. The third one which is more palatable to the general public is monetary system for online gaming. Now, if these three areas are using crypto for transactions heavily, then the price of bitcoin must be way higher than the current ATH price.

How could it be wrong to assume that crypto is money? what's money in your definition? used to buy things, deposit on casinos and gamble with it. That's how money works right? so do cryptocurrency is. Usage of crypto as an asset or money depends on the user, just because many have been holding it, it doesn't mean that it can't be a true money to us. Spare the fluctuations as that's the normal character of crypto's, however can't you see on how wide crypto's are right now being considered as digital money? I think you're missing it although I respect what's your point.

Any cryptocurrency becomes money as soon as it is used to buy something, it is true that the value of all cryptocurrencies except stable coins is very unstable but that doesn't mean that they are not a form of money, even a cryptocurrency that is only used once to buy something became a form of money even if it was just for a moment, but when it comes to a cryptocurrency like bitcoin we can safely assume that it is going to be a form of money for as long as it exists.

the key is about goverment regulation for regulate this industry sector, like you said today gambling is not just as a game for people to spend free time, but for main income, moreover people more trusted in gambling site using blockchain technology.

In my opinion, betting alone is a problem.   :)
However, if you choose between regular bets and blockchain bets, I will always choose blockchain. Because blockchain involves the absence of any manipulation.
Sports betting, like casinos, has a large monetary share in the world market, which means that a large number of people are somehow involved in these types of activities, which will have a very positive effect on mass adaptation if casinos and blockchain rates are more widespread.

You can withdraw and deposit funds with blockchain kasino with out givingbout your identity. Unlike in others likencreditcard your name is there and your bank record. That is the advantage why gamblers now are using the technology of crypto.

Betting cuts across not just crypto but the physical world so I don't think it's a problem that has resulted because of crypto. A greater percentage of betting is carried out using fiat and it hasn't been blamed on fiat yet.

Betting on crypto is not a problem. Betting in general is a problem as it can become addicted and most of the betters are without knowing it. My personal opinion would be that gambling can bring a lot of new users into crypto world even if they come only for gamble but this is a promo after all.

Gamblers are everywhere and they bet with every currency and not only so the problem is on them as bookies just provide the chance in order to satisfy their needs.

I see betting or gambling as a form of entertainment. I was actually glad that they were able to utilize the use of cryptocurrency and make it accessible unlike going to the casino or going to the exact place just to bet. The problem only arises when a person gets addicted to it so it depends on the person if he falls into the trap. Self-control is a must. Gambling is also like what we are doing in cryptocurrency, only invest and spend what you can afford to lose.

right, safer for blockchain bets. although there are whales, but they cannot manipulate the market. they can only provide stimulation and psychological play to traders, so traders will follow their scenario. usually they use news that can affect psychological traders, so that if traders move in unison, it will have an extraordinary effect

In general definition, its wise to consider gambling as a form of entertainment because we are likely to loss our money when we gamble.
That's why we can always hear from the experience people that we should gamble what you can afford to lose, that is to avoid getting frustrated when we lose. When we are open for loses in gambling we will become more realistic and it will be easy for us to accepted whatever the outcome is.

Actually, gambling is never a problem, its the people who doesn't understand is the problem in gambling, if we look at the big picture here, gambling industry in the crypto space is also booming, therefore they are a big contributor on the success of crypto.

Betting and gambling are very bad idea for crypto believer to loose money they should nt enter such markets

you mean they cannot manipulate the result right??
of course because when gambling service are running in blockchain network broker can't manipulate because all of service are running on top blockchain where nothing anyone can manipulate

It will depend on your personal beliefs and culture if you think that betting has only negative impact to people. Most people here are using cryptocurrency in gambling since many of the coins offers anonymity. Therefore, they can enjoy playing without identifying themselves. Many conservatives have already judged the crypto industry without understanding what it really is so, I do not think we lose anything if they do not like crypto just because it is used for betting.

Gambling is one of the spheres, where cryptocurrencies are used almost all the time. I might be mistaken, but I guess, the first official Bitcoin casinos appeared in 2015. Now, people do understand that in a game of chance, anonymity is extremely important. Moreover, the withdrawal operations take several minutes only (compare it with Bank transfers lasting up to 3 or even 5 days).

If it pleases the users to use their crypto funds to bet, let them be. Somehow, this is also one of the major factors or development that bring about more awareness and mass adoption of blockchain technology. So many people who are into online games today are not yet aware of this aspect.

This. People are going to gamble anyway. So they might as well use cryptocurrency to do it. If crypto can dominate this industry, at least it provides a use case for digital money.

It's kind of a reputation of cryptocurrency to be used in any way you want because it is decentralized and that includes betting. But betting or gambling itself isn't as bad as what other people thinks. Even if it's for income or for entertainment, the fault of losing in those activities is to the person because he accepted the risk. It will be all subjective if you believe that cryptocurrency are nest of illegal activities because fiat is the same because it's all money after all.

bad or not I feel back to every point of view of people about it, because in my opinion it is not a bad thing in my opinion, even I see bets giving good things to crypto, with the mass adoption by way of betting, or maybe other purposes.

Do you think it is not happening in the real world using fiat? So in my opinion, it is only normal as we are free on what to do with our assets.

Having 60% of transaction for betting didn't portrays crypto in a bad way because everyone has it's on way of understanding. If you hate gambling, then you will surely agree with it but if you are a gambler lover or you are neither a hater or a lover then you don't have to worry about it. The only things that remains is the government but I am sure that the governments has it's own share in every online gambling that is being originated in their country so it is not a problem also.

You're overthinking, it's not a problem. A whole lot of fiat money is also used for betting, even more than that measly 60% that you are claiming to be (what is your source btw?). There can be regulations added to alleviate betting concerns in countries where it is illegal but there are lots of other things that portray crypto in a bad way that you should be concerned about.

I don't think that's a big problem. Indirectly crypto is also useful for anything including betting or gambling itself. All medium of exchange has the potential to be a tool for betting. As long as it is a valuable item.
What makes crypto images worse are those who try to deceive others by carrying the name crypto.

No I don't think so, cryptocurrency is for those who wants to risk their funds in order to gain more. If cryptocurrency was being used for the betting or gambling then it is a common because they are gambling their money and risk it for them to get a higher winning. I don't see it portrays crypto in a bad way because at first gambling or betting is kind of industry that helps us to earn more and also lose sometimes.

Not at all, the dollar is also being used and so many other fiat and even credit card but it does not connote anything, it's just your thinking, in fact, it will have a positive impact because of gamblers and other observant will find something unique in Crypto why it is being used in gambling.

There is nothing wrong with that, any crypto users can do whatever they want with their own crypto.
As long as crypto continuously circulate, there's nothing to think about that. Fiat currency is also being used in betting, you're just giving yourself of something to think about which is unnecessary.

gambling is a common thing in cryptocurrency and fiat money. and in my opinion this is not the biggest problem in crypto. because I don't think we can avoid this. because if we look at online gambling is growing. because gambling sites are also increasing. in my opinion the bigger problem of gambling is the use of crypto for criminal acts such as money laundering, buying and selling drugs and terrorist financing. this makes the cryptocurrency image worse.

You are right, every crypto user can do a lot of activities with the funds they have including in betting that uses crypto. basically betting can use FIAT too and now betting can use crypto. so I think for that right is the use of the user, because if he thinks betting can be profitable then he may use that method to increase the funds owned

Yes, that's what I mean. But if a country is not legalized and someone is still betting, then I think that is a personal risk of one's own. But in fact, what we are talking about is crypto itself, where every country has no regulation on the use of crypto as betting. If related to FIAT there are rules. You will be going to jail if you are catched by the police.

Betting is only one of the numerous areas of live which might be improved with the use of blockchain technology. For example, Decentralized Finance is being actively developed as well.

It is their money and they can choose what they want to do with it, that is the beauty of cryptocurrencies,  if you were using fiat banks could decide for you what you can do with it and could even block your account if they found anything suspicious but with cryptocurrencies this is not possible, no one can tell you what to do with your money and if they do you can just laugh on their face as there is no way they can force you to do what they want.

Gambling using crypto is certainly not a good thing to do, however in any case, gambling will certainly make a bad image of the crypto currency in various countries which indeed prohibits gambling, but in the crypto world itself there have been created several sites that are indeed possible the players use crypto currencies like trx, btc, and eth to make bets. I think it will be very difficult to keep crypto from gambling because now the crypto gambling market has grown bigger.

Few people trust cryptocurrency, especially if you look at the percentage of all residents. But gambling and cryptocurrency are generally a fiery mixture. But still, everyone himself decides where to pour his money. Someone chooses this path.

but if someone already has the view that betting exists because of the user's desire not because of the nature of crypto, I think crypto will still have trust in the user. for betting I think it's not a big problem for crypto even though there are some countries that don't allow it, but there are countries that give permission. I think if you don't make fraud, then betting is not one of the bad activities in crypto

Well gambling is one of the ways to have fun using cryptocurrency and it also offer the players to double or even triple their holdings if they win. Of course it will portrait bad image to others especially those who have few knowledge about crypto but nothing we can do about that since most of the cryptocurrency have no real use case at the moment which is why people choose to bet their crypto instead of holding.

Gambling is an industry! Growing industry if I may add, especially online gambling industry. Money is going in and out, many people work in casinos or for casinos, even more people gamble everyday! Billion dollar industry! Can that be a problem to crypto? Absolutely not! Gambling is one the reasons of crypto expansion! Believe it or not, people had problems to find a place to gamble, in some countries its forbidden to gamble in real and online casinos, many countries (including my country where I live) didn`t have access to online casinos, country where are you from is not supported, simple message, with crypto we don`t have restrictions of that kind! And one more fact, its faster instant deposit and withdraws with crypto and lower fees, while with fiat you need banks, checking, that can last for days sometimes.

Gambling is dangerous in the sense people once win they get addicted to gambling and they play on a daily basis and when they loose they want to bet more in order to get back their lost amount they couldn't so I suggest everyone stay away from betting, only invest in crypto and hold.

yeah, that's why for me gambling is just one way to get another fun not for serious job, i'm not a good in gambling games.
if for serious to get more income or profit trading is best choice to get money than gambling, even in trading have a high risk but we don't gambling in market but analyze the market

Billions of dollars are used for betting yearly and that doesn't really portray dollars in a bad light, so it's basically the same thing, Crypto is a currency and what people who has it choose to do with it does not really affect it in one way or another.

I also don't see anything wrong with it. Everyone uses cryptocurrency the way they want. Fiat money is also used for gambling, so this should not spoil the reputation of the cryptocurrency.

In fact i don't see any problem, if Crypto is not used for real transactions it's value can be zero and probably will be. In my opinion it shows the power of Crypto and Blockchain technology. every single online gambler only wants one thing. Fast, instant and secure cashouts. back in the day before "black Friday" when US banned online gambling, cash-outs were super quick, and you were able to send back and forth between your bank account in a matter of minutes. then it got slower and slower. today, when you click cashout, it takes at least 2 days for them to even "review" it, and they leave the balance in your account so you can lose it in that "review" time period. I want instant cashouts, instantly to be able to send to Coinbase or whatever, and crypto is the only best option.

I think so, many people think that crypto is used for illegal activities such as buying drugs, weapons, and gambling so many countries forbid the use of crypto, this is the need for regulation so that it can regulate crypto clearly.

I would rather say it is not a beneficial activity at all. Gambling is pure luck based game. No matter how hard you try, hoe much research you do, in the end, you will be entirely depending on luck lady and then there is this factor of house too. They also manipulate things according to their desires. The asset and time that people waste in such stuff could be utilized in better ways for helping oneself.

It is incredible how governments can slow down not only a process that should take a few minutes but something that should be very cheap as well, can you imagine all the resources fiat casinos need to employ just to manually review every single withdrawal? That is money they could use to improve their games or their support and now goes to something that brings them no benefit, and not only that think about all the businesses that are never created because they cannot comply with their ridiculous regulations.

Why do you think that it is a problem? It is a real use case, people are very happy to use blockchain gaming because it is provably fair!

Betting occurs because purely from users who want to play with crypto payments, not a problem for this. because betting is done on their own terms and as long as there is no fraud in it, that is not a problem
Because betting for me is a game to relieve stress

I think that this is quite normal. Isn't fiat money used for bets or electronic? Of course they are used, so why digital assets such as cryptocurrencies do not use this niche. Perhaps this will even accelerate the development and introduction of cryptocurrencies to the masses.

60% crypto transaction is used for betting??  are you sure about what you read in that article!!  I don't think this is an important thing to discuss.. as long as it doesn't harm people, I don't think there's anything wrong.

I can not believe it if there is no evidence of the article attached, there may be a mistake or news made to drop crypto. plus if that happens crypto is only a means of payment in a betting method, so I don't think it's a big deal. because the pure gamble is that the user does it

If the statistic is true and authentic then the reason could be as a result of betting in cryptos is a daily transaction whereas in trading a trader withdrawal might be on weekly or monthly basis depending on the trader's choice likewise miners however the above mentioned statistics of betting cannot paint cryptos in a bad light because those betting transactions are carried out legitimately.

that's why crypto is used for illegal activities such as gambling because transactions that cannot be traced by who the owner will make it easier for those who are engaged in bad fields such as drugs we cannot blame crypto because it is not like other transactions traceable to the owner, and I don't think it is the wrong thing

Well betting and gambling is a popular way to earn or lose crypto, i don't see it as a bad image to crypto. However it's bad in a way if people get addicted on it then keep playing then lose all of his/her crypto, there must be some sort of restrictions to ourselves when it comes to betting.

cryptocurrcy is now widely used for gambling in addition to the features and benefits of crypto itself, and it is indeed bad

I understand and totally agree with you. Actually this is more to the personal problems of people who play gambling alone is not a problem for Crypto in general. Because in many countries they legalize gambling and managed professionally through the casinos they have. Precisely by placing crypto into gambling will increasingly make crypto famous

If people are getting addicted then it is their personal problem and not something that others should worry about. Regarding restrictions, most of the popular gambling sites provide an option to self exclude  yourself from the site so if you are like getting too much addicted then apply for that.

If you talking about betting or gambling in crypto i think its depend on how people see this side but personaly im never interested with gambling dapps. Betting or gambling make us addicted and if you cant control your self it will destroy your financial. At this point we are talking about personal problem not crypto problem.

In my honest opinion, risking one’s precious asset in luck based games and losing them is a problem. It is not like there are high chances of winning bets even if everything is fair. There are better ways to utilize one’s digital asset and increase them in number. I have seen people who lost their bitcoin in gambling. Then all they were left with was regret. This is the reason why OP has this belief.

Gambling is only a fraction of the crypto problem than so large a fraud occurs. business within the scope of cryptocurrency there is indeed gambling but I myself do not believe that fact regarding gambling which is mentioned the main problem for crypto. really wrong. we can research what makes crypto problematic from this community and I'm sure it's not gambling

If those numbers are true then the reason why trading transactions are not number one is because when you deposit your money in an exchange and you begin to trade all movements you make with your coins are not done on the blockchain but in their database and a transaction is not made until you get your coins out of the exchange, so if you are a day trader and you make 100 different trades and then you get your money out of the exchange only one transaction will be registered on the blockchain.

Cryptocurrencies are not as bad as some people think. I personally see cryptocurrencies as a new step in the world market. do you think like me

Personally I think it just shows that more and more people are using Cryptocurrencies, when someone wins the lottery, do you start looking at that person as a bad person or if the person gives you a part of the winnings, would you look at the money as dirty money? Same thing applied to Cryptocurrency betting, people are choosing to use Cryptocurrencies to do the things the are passionate about and I see nothing wrong with that, I just see progress.

I don't think this 60% rate is right. The number of transactions of investors and legal traders is extremely large. Please read through the information carefully. :-X

If you finding with crypto using for betting site better you left and invest with bitcoin only, with investment on ICO or IEO maybe have partner and platform with betting site. Not good as Moslems participated on investing have betting platform investment, you have try looking with investment without use betting and gambling site for their ICO and IEO.

Now days the crypto currencies are acceptable in many different spots betting sites and they are accepting crypto without kyc and so it makes to many peoples use crypto for gambling,  if you win big amounts in crypto then they will ask you complete the kyc to payout and more issues are there, so better do not use crypto for gambling.

gambling could make us loss alot while our position not  correct.we  could not analize the probability in gambling so our chance in profit and loss was equal.many people prefer use  cryptocurrency as deposit  methode in gambling site because it could not tracked by anyone,even their family .and it is relatively safe from cyber police that will disperse gambling site.in many countries local police try to track online game.

I don't see any problems with that as long as they have a betting license to operate such business. Almost everything we do with money is betting so it's not bad if that happens in cryptocurrency

I think it doesn't matter. Betting is a major form of lucrative income for nations and businesses, especially game players. People are betting everyday in many aspects.

yup, most of crypto using for betting, this is bad habit for human,
almost all crypto holder using their crypto for betting instead real money include me  ;D
really enjoyed betting with crypto !

Yes, I think same as you and I really love crypto no matter if it’s low or high. Crypto has given us so many benefits that we never become grateful about. I am one of those people who are having lots id patience and keen learner of crypto so my income from trading and investment is increasing day by day. Market change never changes my mind about investing in crypto.

More than anything this is an attempt to try to make cryptocurrencies look bad, we know that gambling is still seen in many parts of the world as something bad and by showing that most of the transactions are used for gambling purposes they are trying to make it seem as if the market is full of dishonest people without actually saying it, this is no different than when we saw articles claiming that most bitcoins were used on the dark net and stuff like that.

Are there data to support this claim that most of the transactions are used for gambling? Because I honestly don’t think so. Cryptocurrencies aren’t just for gambling purposes as we know and there are a lot of transactions going on which are mostly payment for services, trades and etc. Just like fiat, cryptocurrencies are also used based on a person’s desires whether it’s a good or bad thing. But any currencies used in wrong activities should be punished with accordance to laws that’s why I’m hoping that our legislatures would consider to reinforce their laws especially in money laundering.

If it's true, it could be bad. Betting is legal in many countries and they get a huge amount of money from those betting which usually used to the development of the country. Betting using crypto currency where it's not possible to track this transaction that's why those countries loosing money.

The only bad thing is that it seems anybody running or using an unlicensed gambling site on blockchain thinks it's not illegal because it's on blockchain. At some point, this might cause some trouble for quite a bunch of people who didn't mind to remain anonymous.

The reason why most of the traffic on blockchain is used for gambling is that it's very easy for users to wager a lot of money very quickly through the automation. And because most sites incentivize being active early throughout the lifetime of a platform, a lot of people are doing that. Numbers look crooked, because a dice bet is typically being done multiple times in a row, as opposed to a purchase in a game or similar.

I am beginning to think if unregistered gambling sites are really bad for crypto. Bitcoin is decentralized and doesn't need government registration and approval so why the need for a gambling site to register under government laws? I respect that registered gambling sites are the least to scam people. But to be honest, I will not hesitate to gamble in an unregistered gambling site if its owner is a reliable person.

Many altcoin platform have basic and partner with betting site, make many investor with religion not agree and interested for investing there, they wan't promote an altcoin have partner and platform adoption with gambling like TRX coin. if want to be success with an altcoin keep away using betting platform site.

I think betting is a normal problem. Once involved in the cryptocurrency market, it is essentially a gamble, luck, the price will rise, bad luck will lose everything.

actually betting is not a big problem in the crypto world.
And i think betting is not just hoping for luck, because I know betting uses calculations as well as the level of patience in doing so, therefore I do not agree that betting only relies on luck

I think betting is sort of fading away now, there was a time it was as though almost all projects coming up was for betting so it was kind of tough to recognise good betting platforms then and almost everyone was running after it back then and truth is many are gone..they have folded. To me betting isn't a problem as we always encourage people to do proper research before investing in a platform...so betting isn't an issue in crypto.

Yes I believe OP have old data. There used to be one betting website early on. I forgot the name and who found it but he is famous. I believe he had enchain betting and  that time most of transactions were made by gamblers there. Today with fees that cost that would of course not work.

The use of crypto for betting in my opinion is only a small part of very large crypto transactions. Crypto can be used for anything and one of them is betting, and in my opinion it depends on the user and not cryptocurrency.

There's a lot of gambling sites in crypto world and there is a reason why we are seeing some significant growth, so basically this really helps the market to grow and it's not called a problem, but instead its an improvement.

People will only have a problem in gambling if they don't gamble responsibly, and with that, its not gambling should be blame..

but themselves.

That is possible because at present few projects have created cryptocurrencies with their own technology, some have also applied the technology but that is not enough, most now see transactions as speculation and gambling delivery are predominant, but that's not a bad way to think about cryptocurrencies.

There's a growth in the betting industry int he crypto world and that's why there are a lot of gambling platform being created marketing their own tokens.
it's not a big problem because otherwise, why would they start a business like gambling if they don't see a potential, surely they see that there are a lot of potential in this market and the future trend of gambling will be in crypto.

not all countries legalize gambling, gambling entrepreneurs certainly see cryptocurrency as an opportunity, besides being untouched by the law, I think they can expand their networks throughout the world. therefore do not be surprised if many gambling industry in cryptocurrency is successful

I'm not saying if that's the biggest problem with crypto, betting is always an alternative choice for users who like challenges. because the percentage between bets 50/50 and you must be prepared for the benefits and risks. but in my opinion the risk is far greater. if you want to invest better find safe or just invest in btc.

I am not surprise, you can read my logic about why capitalist are starting their gambling sites in crypto.
The opportunity here is bigger than compared to a normal fiat gambling operation as here one can start a small gambling sites and if they have a great platform and good marketing, its possible that the gambling site will grow and will be able to compete with the existing successful gambling sites.

60 percent crypto transaction were used for betting? that's quite big, I don't think that 60 percent is accurate maybe just 30 percent. I also don't see anything wrong crypto use for betting, it is a digital currency you know, this will not make the bad image of crypto.

bets have existed since time immemorial since people still use gold and silver gambling already exists. and I don't think we can avoid this because everyone has the right to use their money. we cannot prohibit them from using their money for gambling.
and now we live in a digital era, of course the gambling business will develop following the trend and I am not surprised if cryptocurrency is used for gambling tools because of its anonymity and also the ease in conducting money transactions. so gambling is not a problem all depends on our point of view.

I don't think it reaches 60% of crypto transactions for gambling, because some people crypto are places to invest and trading. There are many people who don't like it and also not everyone plays gambling using crypto as a transaction

Sure, but generally there's a (historic) reason for gambling regulation in general. Gambling operators used to (and still do) rip off people. How do you check whether a "provably fair" crypto gambling site is actually fair? Registered gambling operators can at least be audited through officials, even if that doesn't give you 100% certainty, there's a lot of aspects (like ad bans) that prevent average people from using a lot of money.

Generally, however, gambling is great for crypto adoption, so let's have it!

Gambling is not just using cryptocurrency as a bet but also with fiat, but the Government doesn't consider it as a bad thing as long as they will provide the legal documents making their gambling business legal, the only difference about online gambling that uses cryptocurrency is that they do not submit such thing to Governments, they are making it freely to gain profits by using this digital money we called cryptocurrency.

And it is not a bad thing or a good thing, it is either of the two depends on who's going to look at it and judge it.

I doubt 60 percent of daily crypto transactions flow between exchanges and gambling sites. Maybe it is around 12-20%, the gambling sites also don't share enough data for measuring these numbers. Digital currencies are used by the citizens of countries where gambling is banned by the governments from my experience and anonymous transactions give the gamblers freedom to choose the sites however they wish.

It's quite easy to measure, and it's quite evident: https://www.dapp.com/article/dapp-com-q3-2019-dapp-market-report

It doesn't mean that these transactions are happening between exchanges and gambling sites, it just says that 60% of the overall transactions are done with gambling sites.

in my opinion it is a natural thing, even fiat is also used to bet. nothing wrong here, online gamblers will feel even more comfortable if their transactions use crypto money. I don't think it's a big problem, the big problem is actually the use of crypto in the real world and being a product that can really be used.

There is nothing wrong to use the digital money for betting, the source of funds can be asked by the exchanges if the gambler sends the crypto from the gambling sites. It is a commonly known excuse by the well-known exchanges but taking a screenshot from the withdraw page of the gambling site will solve this problem. Online gambling is widely used by crypto holders and as a working product, some gambling projects use specific altcoins for transactions.

calling betting a problem and calling betting with digital currencies a problem are totally two different things. Using crypto currencies in in gambling is cool and personal preference too. So if someone wants to play, he can otherwise no one really pushes anyone. Exchanges do not really care about your source of funds or at least I have never heard of such stuff. They are more concerned with number of customers and the amounts they hold.

When you transfer money from your credit card to an online account, you have to wait a while until the transfer is completed. Furthermore, conversion rates often cost too much, making you spend money you would put to a better use otherwise. When it comes to cryptocurrency, there are only minimal transaction fees which are common with every cryptocurrency transaction. Since BTC Sportsbook websites require Bitcoin, there is no need for conversion which completely reduces deposit costs. You deposit BTC, wager BTC and withdraw BTC. And to top it all, cryptocurrency transfers are virtually instantaneous, so there is no reason to wait for the funds to sit on your online account or withdraw back to your wallet.

The way I see it, crypto is the future for those betting sites in a good way.

Gambling has been there in every market for centuries and same is happening with crypto. People gamble with everything that has worth such as gold, properties etc. since crypto currencies are the future and they have tendency of increasing in value over some time, people have started using them for gambling. Another reason for playing gambling online is that it does not reveal your identity.

Probably not, but since when the truth and the facts have stopped the media of publishing a story, you must remember that what the media wants is to be noticed, they want you to pay attention to them that is why you always see the most outrageous story being portrayed and reported by them, and the story about most transactions in the bitcoin network being gambling related is not something they will avoid reporting regardless of the facts or its veracity.

I think it's one of the major reasons for heavy manipulation we are witnessing today, but I believe crypto has it purpose and it will surely stick to it.