Bitcoin Forum

Maybe its not the first topic, but I can't find a topic regarding this issue.

Guys, what you think about betting feature at the exchange?
As far as I know, exchangers are a place for traders, not gamblers.

Today I got an official email from TOPBTC about that feature.
Interestingly, TOPBTC users can enter the feature without register.

So, will this feature make new visitors/users increase? Or it will make trader annoying?

IMO, if an exchange has betting feature then the users will increase or not because it depends on the users if they are interested to an exchange that has betting feature. There are betting exchange already but I don't know if the users in that betting exchange increased. If you search on google about the best betting exchange then the result is the number 1 betting exchange is betfair according to the reviews of people who use betfair.

I guess it's only natural and won't be annoying, IMO. The gambling feature in the exchange has long been available in one of the exchanges and I personally don't feel like it's a nuisance or anything, but it depends on how we view the feature, because I personally never gamble on an exchange even though the exchange provides gambling features, because when I entering the exchange then fully I will only do trading activities and not gambling.

The first time I found a gambling option on an exchange was yobit. They have a dice with 2% house edge that supports multiple currencies.
Trading and the hot topic of this time, margin trading are a form of gambling but dice and other betting do bring some fun to the exchange. But I'd still prefer an exchange without gambling option as I have my priorities for different places.

Same here. Yobit came in my mind after seeing the topic title. Anyway a business can add anything in their website if they want but in my opinion gambling feature in an exchange does not look good. Besides if a company wants to offer everything at one place then surly they will compromise the quality. YoBit is a good example. Their service (customer service) is one of the lowest grade.

Specialize exchange like Binance, kucoin, polo etc may never add this kind of service. It's totally two different business model.

it will increase the user because traders are risk takers and what they doing is already considered as a gambling  . this was also the reason on why trading exchange owners comes up with the idea like this and the same as gambling owners that sets up a trading feature inside thier platform for extra income .

ive seen alot of trading exchange that has a gambling feature  and i think that was cool because traders will not get bored if they are waiting for thier orders/transactions  to be procesed  .

Isn't the "Buy" and "Sell" buttons already a gambling feature for these exchanges?  :D

Kidding aside, adding that feature is a good way to double or completely lose the little funds that you can no longer withdraw from exchanges ;)

Makes no sense, you might as well add other gambling games, what's the point? An exchange should be an exchange not a gambling platform, if they want to add something like that, they should do it on another platform. I can't see a reputable exchange adding such a shitty feature ever.

It depends because people do have different preference.Some traders do like having 2 things in one go and other do like to have an another specific site for betting.

So the answer will not be fixed because on my side,if an exchange do have that betting feature this would only distract me yet trading accompanied with betting feature nearby will just really be a distraction.

It is not going to change anything unless the exchanges like binance or some other with daily trading volume in billions.Personally feels that the people who are doing crypto trading more concern about their capital so they won't just believe their luck and do bets while trading on the exchange itself.This is just work like refreshment for the stressed trader but won't become a successful business module on exchanges.

If most of their users starts recommending their betting feature there could be an increase but it's unlikely to see it getting recommended because when you go to an exchange you don't visit their site only to play gambling games. Most bitcoin exchanges that are popular doesn't even have a betting feature this is just nuisance to traders since it's another way for them to lose some of their money.

A useless feature to add gambling games like dice on an exchange. Useless for us but not for the exchange. They know if people deposits anything in the exchange they will have a temptation of gambling over there.
The feature won't increase their user count. I don't see any reason why gamblers will join an exchange to gamble over there. I also see no reason for traders to be annoyed by this.

I don't think users who are regulars on exchanges do care much about gambling,sure they may give it a try but that is it.I am sure that they will be focused only on their main business,exchanging money.This feature is annoying to users but may be beneficial to the exchange if some users from exchanging turn out to become heavy bettors.

Couldn't exactly understand while there should be an exchange that will have the features of a gambling platform, personally I don't think its going MTO be more attractive to both gambler and traders. If it is an exchange so be it or a gambling platform so.be it, I will want to see an exchange or a gambling platform.

This is my first time hearing this too.

It is an exchange so I guess I will just focus on trading and finding good cryptos to invest. I would gamble too but I will not be using my balance in that site, I would use a faucet if they had one. Do they have referrals? I also do hope they have bonuses since that would also boost their users not only investors but also gamblers.

This is just addition of service from an exchange, everything is a business. When they've got funds for the investment they keep widening the business in the possible industries. Traders never mind gambling, but when there is direct access from trading account surely users will tend to give a try. This way there is more possible chances for success of the new service along with the trading.

Its all about business but I doubt If exchange owners would add it up since handling 2 different things into one site does really give too much work and maintenance.
From trading platform going to its gambling feature.If they do have the money and the time to handle then why not?This would be the first ever exchange to have that feature.

There is betting feature exchange and that is Yobit exchange but unfortunately, they have a bunch of accusation and it means bad reputation. That is normal for me that exchange platform has also gambling platform or just we say vice versa gambling platform at the same time exchange platform. Windice.io gambling also has exchange but those selective altcoins that you might exchange like Bitcoin, Doge, Ethereum and Litecoin.

Wouldn't the exchanges need extra legit licenses to run a part of gambling site? I'm talking about the good and top-rated one's and not Yobit. They abide by the AML policies and probably pay taxes. There is no way they will be allowed to carry gambling operations without proper legal permission.

Having said that, they will just need to convert their traffic into gamblers by providing lucrative offers to rewards. They already have the traffic, it's a win-win situation.

Maybe they have respective licenses as I've seen several exchanges integrated by casino games like crex - they have dice and blackjack. But I don't know about their licenses if they do have. If they are running legit, more than likely they secure their gambling permits as well.

Well, I am also curious about this. If you run an exchange and get a license it means that is separate when you are also running a gambling site? This is not new for me that there is a betting feature that has an exchange feature. But when it comes legitimation I don't know how they process on it. Indeed, as OP stated that is very common now running two businesses feature in under in one company name.

Holding BTC and then gambling has a double risk to it, its common for currency hedges to be taken out in many companies exposures to even 'normal' FIAT markets.   Everything has a cost and a risk to it.     Theres definitely a crossover between the two sectors/subjects so I cant blame the company for trying to sell another product to their existing customer base.


I dont see why it should be much different, both can involve total losses if people can make leveraged bets for or against a crypto currency.   Why would it really need much more, just the normal anti laundering legislation perhaps.  
  If they start selling houses or cars then fair enough, if its just another finance product and the results of this one is a dice scenario I'd only see it as government red tape wasting peoples time.    

Many of us have thought about yobit in the first time because yobit have a gambling game in their website. Related to the topic, I guess that traders can play gambling inside the exchange while they trade. While they are waiting for the market moves, they can spend their time playing gambling and who knows they can win the game with a lot of coins available on that site. But I don't know if that will make that site can gain more visitor/traders to their site because that will need promotion on everywhere. I don't click the link, so I don't know about the site, I just too afraid to get something suspicious.

But to me it sounds strange if the trading platform adds a gambling feature because it doesn't fit their basic objectives, at least if they want to add a gambling feature, they have to make a new platform that runs under their trading platform, it's better than being merged. But if the gambling platform adds an exchange feature, I think it's normal as long as it's just an ordinary exchange feature for exchanging coins and not an exchange that is specific to traders. I hope you understand what I mean.

I never like the idea of having exchange and gambling casino at the same site. Both of them are different and it does not match to have both services in the same place. That's the one reason why the good exchanges do not have any gambling features and good casino do not have exchanges platform on their sites.

To some extent you may say that trading crypto is like gambling but it is not purely gambling. You have the ability to take decision on your study and knowledge and in case of bad trade , you can hold and recover (this ability is not available in gambling).

Maybe for those who are both trader and gamblers, having both features at single place is good for them.

I think it's just a matter of preferences.

You can simply use 1 website with 2 different homepages for each product. Say, a.com/exchange, a.com/gambling. It could save your cost too as you don't have to pay for 2 domains.

There are no fundamental problems when they decide to run 2 kinds of business at the same time, as long as they can serve their customer well.

Yes, for those who are capable of doing both gambling and trading will favor this kind of additions to their activities inside exchange, though it's really risky when you are going to gamble with your fate instead of focusing dealing with Chances using skills and knowledge anticipating the next possible position of your trading assets.

Well, you know that gambling and trading have a lot of scope and they are not small businesses. It is difficult for a single team to handle both of these at a mass level.
Have you heard of a person who is Jack of all trades and a one who is professional in one skill and is therefore perfect in that.  ;)

Some exchanges does have the feature of gambling. Its not their main source but its exists like on yobit and livecoin there is such a dice game. I believe these gambling games were introduced for two reasons:
1. Break the monotony of trading and give them something else to put their money on in times of a bear market or stagnant market.
2. Additional source of income for the exchange - because anyone playing will lose to the house edge at one time.

So it is basically another method for the exchanges to prey on traders. They are risk takers after all.
Not that they are forcing you to play but it is there if you want to. Probably OP's site has introduced something similar.

I haven't tried this exchange yet but if they got the proper licenses to operate a gambling feature as well, I don't see any problem with that. I don't think it is going to be annoying to existing customers since it's a separate feature. I don't think they'll be forced to try to gamble there.

On the other-hand if they so chooses, it'll be more convenient for them since they no longer have to send the money to a different casino and possibly go through delays, not to mention additional fees.

I think we all learned how shitty Yobit is, the only reason a legit exchange would offer a gambling feature would be greed. I still don't see the point of doing that inside an exchange when they can simply create another platform dedicated to gambling.

i am pleased to hear about a new bet feature on topbtc, i believe that pure traders will simply ignore it, but somehow will succeed in attracting new users to the exchange...

Reminds me about yobit which was the first exchange that add gambling game at the main site but the game is not provably fair. How about the game at TOPBTC? I'm not a user of TOPBTC so I do not know about it yet, if it is good gambling games which is provably fair then I do think it is OK. Users are free to decide whether to use the new feature or not, I think the main purpose of adding gambling game is to boost more income for the exchange as well as to provide more fun for users.

I also remember Yobit for this matter where they do have that very shady dice game but eventually they do remove it afterwards.I don't know on whats the reason but these shady stuff is non surprising for a shady exchange.For other sites or exchange I didn't see that someone do put up gambling feature.I haven't hear about TOPBTC too and I might check it out later on.

Some traders are gamblers, the majority of traders will find this new feature interesting, now they will not have to look or go to other betting sites to bet, there is no need to transfer their coins from the exchange to a betting site, it will have positive effects on both exchange and members

TopBtc is the first exchange that integrates betting features, and I find this cool and I don't think traders will be annoyed by this additional feature, for one I'm pretty sure they will create a separate page for this, or they can opt to use a subdomain for their betting.

Either way, it has a positive effect on traders who can spend time while waiting for a good price to trade.
This is something new if successful, we will see other exchanges doing the same thing.

Yes they have one integrated with their dashboard, you will enjoy playing the dice game while waiting for a good price in all your coins or to get your orders completed, but I doubt if this is fair game, I still prefer gambling dedicated sites, because it's their business to make their platform as fair as possible.

I have been saying this for quite sometime now. Emerging crypto ventures should concentrate on their main expertise for at least 2-3 years before trying to diversify. Exchanges should concentrate on their platform and make it more secure, before they jump in to gambling. A lot many of the users are afraid to use the exchanges now, as every now and then the news comes out of some exchange getting hacked. We have gambling sites that accept deposits in cryptocurrency if we want to gamble. We don't need the exchanges for that.

Jack of all trades, master of none (credits to Robert Greene).

You got it. These buttons are already gambling for newbie traders  ;D

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Seriously, it'll be a good idea to put a gambling feature in crypto exchange. This will lessen the burden of the traders who didn't make any profit for a day. Also, a trader won't need to log in another account for him to gamble after trading this it's less hassle. On the other hand, in forex I think they are doing and it's called Binary Option (Please correct me if I wrong).

I believe this is an opportunity for the traders to lose more money without going to another site because we already knew that no one is going to profitable on gambling as long as they were betting,they have to live with that hope.

TopBTC looks like another scummy, dead exchange which is used by bots alone.
I tried to ready this betting related announcement you linked, but I couldn't understand much through their terrible English. Another Chinese exchange I suppose?

I don't see it as anything useful really, as someone said very accurately... "Jack of all trades, master of none", though the "all trades" part is not very accurate here!  :P

It's what I just stated in my previous reply that the users in a betting exchange will increase or not. You get my point? It may increase or it will stay the same as it was. You are right and it is true that traders are indeed risk takers. Why not use a betting exchange sites the same as Betfair, Fairlay and BetBTC.

That's one of the benefits if there's something like this inside exchange you can take some game for your past time if you can get away of being engaged too much and be so addicted as you'll be ruining your chances to earned but also chances to burned everything out if you mismanaged your investment.

Exchanges will never implement a betting feature simply because they are in the business of maintaining good customer relations over the long term. Beyond this, since the great majority of trade volume comes from institutional traders, high-frequency traders (e.g. trading bots) and hedge funds, the betting tools would only appeal to a small fraction of their user base.

I think your best bet is to use a casino with build-in exchange functionality, because vice-versa aint happening.

I think that is no problem for the exchange, and perhaps they want to grow their business by creating gambling games so they can gain new user to come to their site. People will get two option for making money, and they can use one of them or both to make money.


I guess that will attract more user to trade and to gamble in that site. I don't think that will make a trader annoying because each trader will have their reason why they use the site, and if some of them are using the site for trading and gambling, then it's up to them. Besides that, the feature will help gamblers to play with ease, and they can hide their email.

IMO, if the exchange is regulated, they cannot put a betting platform on it because it's 2 different platform.
However, if they can and the exchange is reputable, then I think that's good for us gamblers and traders at the same time since we can easily trading coins and we don't need to use other exchanges to do that.

I haven't use the exchange you shared yet, but during my early stage in crypto, I have only seen one exchange which has betting feature, actually it's a dice game and that was Yobit Exchange.

Let me start by saying this; if its not an exchange then its a gambling platform and if its a gambling platform then its an exchange, don't combine the two into one because it can't be successful though. Specialties matters when it come to cryptocurrency as many competitors are out there to compect with others. If its an exchange, you stand a chance of be successful or gambling platform you stand a  chance of be successful but with both, success is dwindle.

I think adding betting feature to an exchange is a bad idea because those are different business models. You shouldn't serve sushi at a pizzeria, and yet some places are doing just that. I think Yobit, mentioned in this thread couple of times, is a good example of what a crypto exchange shouldn't be so the dice game on the site doesn't speak in favor of adding this feature to an exchange.

Pretty odd combination, regulations involved with operating the exchange and the casino might get in the way but I don't see this being particularly successful anywhere simply because they're very unrelated, and I don't think any major exchanges are going to implement this feature. If I ever wanted to bet I'd just deposit coins from my hot wallet rather than using coins from my exchange account, and I typically trade on larger and more reputable exchanges unlike YoBit and TopBTC.

Might work on margin/leveraged trading sites where people essentially gamble with 100x leverage though. :P

I will never even play or use any exchange that has a gambling features, in it.
This is them calling me to spend all my funds in gambling.
An should exchange to stick to what they know best which is providing a better platform for traders. And not involving in 'Jack of all trades' yet becoming less reliable.

Yet another weird idea again that i've come to witness. ;D

Regulations might change a little bit here if this idea would come to reality but i have a feeling that it won't work for a platform that used to be for trading and not for gambling. Two different platforms in a single platform is kind of odd if you think about it.

Aren't these traders are stressed already with the market situation and yet you have to add some fun yet stressing gambling on a trading platform?

I've played there before with their free coins.

I think that it's fine to have that kind of feature on any exchange as long as they will remain focus on their service. Adding a dice game or any sort of gambling game to their exchange is probably just to kill time while trading.

I don't think it is a good idea to be in gambling while trading, it only makes out of focus into our trades and could possibly be reason to lose.
It can be entertaining those exchanges that have some features of gambling just like dice games. But we can't make to things at a time, gambling and trading.

I don't think it will help at all even if you say it will just gonna kill some time because you are trading, it doesn't work that way. You have to get focus on what you were doing but because of gambling you might lost that concentration since you were playing already and then you just realize that you just missed the great opportunity. Remember that the market is always changing due to its high volatility movement.

This is also the first things comes to my mind. Trading cryptocurrencies has it's own regulations for each countries and beside that, the online gambling too, right?
I think there are some county allowed trading cryptocurrency while gambling is more likely prohibited or vice versa.

If the purpose of adding gambling feature on an exchange is just for fun, maybe they could not use anymore the balance of every trader, because what if you lost also in gambling there while you lost also some of your trade positions? You are totally rekt then.

For me, this feature sounds like they don't want you to take those profit from trading with you. They plan it all along just to kill some time but at the same time losing your focus on trading that somehow will keep yourself busy playing their gambling games.

I am really curious about of this trading and gambling thing in a single site.

There are traders that are waiting for a certain price before selling so while waiting for that, open a new tab and dice for few sats.

No one is obliged to use their feature but still there are gamblers that use it as sort of recreation.

No matter if it is a gambling site or trading exchange all they want is profit so they never going to restrict for the amount you are using because bigger you trade the greater the commission they will get and when it comes to gambling they will get all of your money if you lose on the bests.For them its business idea to make more money but a trader needs to use it as no more than a fun part.

They put a gambling site for one purpose, which is to be profitable.
Although they will say that, "hey, play for fun because this is for fun", that doesn't mean they mean it because at the end of the day, they still make money since they always have the advantage, in short, they are adding that feature to maximize their income.

Yeah, that's why the risk has increased because of that additional feature of exchange which is gambling. Since they are maximizing their income, where they will get that income? to its users probably.
Still, higher risk. Because I know some exchange that even you are just newly registered on their exchange, and when that exchange adds an additional feature which is the margin trading, they separated the funds' balance for the normal trading account and the margin trading account, so, how much more if gambling inside an exchange.

Yes, the exchange can get double profit from people who stay on their website. First is from the fee of the trade. And the second is from the gambling that has been used by the people. They will collect a huge amount from both, but maybe the income from gambling will bigger than the fee of the trade. Once people are trying to gamble, they will spend more coins to get the win but the reality, people, are difficult to win. The winning will be at the exchange, and people will only lose in the gambling table.

Exchange will still get most of its profit from their trading platform as that is their main business, their gambling features will not be popular as a real gambler would choose to play in a gambling platform only as it's more reliable and offers variety of games.

I don't see any exchange yet that offers sports betting, poker, and other type of interesting games.

Same here, I don't know yet if there are other gambling games offered on the exchange. But I have tried dice games on Yobit and I don't see that the game is still available as now they don't provide gambling features there.

If the exchange add gambling features to their website and the interface is also colourful, good and attractive to visitors, it of course generate more traders because you can be trading and gamble at same time.

In the future, I think there will be an exchange which offers sports betting, poker and another type of gambling games on their website so gamblers can play gambling while they traded. Although that will not be good for traders, people will attract to the games, and they will spend some coins while wait for the market moves. But we should understand that trading and gambling cannot be united because we need to stay focus to analyze the coin while gambling is for fun only.

Why go to an exchange to gamble when there are many awesome alternatives out there.  Especially when you can throw down a little bit of crypto and test your luck at some sweet online blackjack exclusive at http://blackjack.fun/  , players are treated awesome here.

Possible but would be hard.There are lots of famous sportsbetting site or crypto gambling sites.If its being started to be integrated into exchangers then users will be divided yet we cant deny that there are lots of traders and if an exchange do offer such feature then it would lessen up visitors on older sites but if i were to choose its still totally different when you play to a sole gambling platform.

TOPBTC is not the only first exchange that is going to implement that, Yobit already has it for years, I remember playing dice game while waiting for my buy/sell order to complete, they have added this so you will not get out of the site and they want to attract gamblers/investors on their platform and I'm sure this also what TOPBTC wants to reach.

I think that is because people want to spend their free time trading to play gambling. And if in the exchange have the gambling table, then the traders can try to playing gambling without having to visit the gambling website. That will depend on themselves because they will know what they want and if they think that playing gambling inside the exchanges is good, then they could still do that. But it is better if we can divide our time to trade and gamble, so we don't lose our focus to do both trading and gambling.

They will obviously attract people to use the gambling feature of their exchange  in order to add more profits aside from the fees that they keep collecting from each traders who uses the service w while in the other side promoting the gambling function will allow them to  be more profitable as gambler will always be a gambler. People's emotions have a very high influence with their movements.

As far I know, they added the feature because of their community request.
Maybe some of their users are gamblers. If the users using another gambling website, tx fee will eat their money, or about minimal withdrawal will make other issues also.