Bitcoin Forum

I am little bit confused about this topic, especially in gambling websites that accept Bitcoins or any cryptocurrencies.

So, we can see more activities on gambling that uses Bitcoin when we are in bull market (price increasing)? And decreases the activities or gambling volumes when also the price of Bitcoin keeps dumping (bear season) ?

I don't know if (we) some normal gamblers would have idea about this or maybe some gambling sites would exactly know this based on their website traffic/bet activities.

It's like an ordinary FOMO. When bitcoin reaches another highs more people will ride into it. Even mainstream media will mention it regularly. Just like what happened last 2017. Gamblers will also try using bitcoin too especially people in countries that have difficulties betting because of their laws that prohibit betting.

But I don't think gamblers using bitcoin can make major effect on its price. The whales, be it companies or groups of people are the ones that can have big impact when it comes to bitcoin price movements.

Come to think of it, I have a theory with regards to your claim.

So firstly, you said that there would be more people gambling with the use of cryptocurrencies when it's a bull market. A couple of reasons that I could think of initially is that:
1. The price of Bitcoin is high, so risking Lower Volume of BTC still yields great rewards (because of the high price of BTC)
2. More people coming in the gambling sites Due to the news of BTC

Then there's the bear market. Just the opposite of what I input on the bullish market.
1. The price of BTC is Low. People HODL. Accumulating.
2. Fewer people are interested in BTC with its low price.

I think this could be the reason for those gambling activities that you have said.

Gamblers just get on the groove and would naturally want to bet more when price pumps cause they could win much wore profit in bettings. It doesn't really affect it that much but it could be one factor to attribute to during bull market and bear season.
Besides, more and more people are integrating themselves to the bitcoin community so id expect that more gamblers would join and contribute to the bull market of bitcoin.

I think there are more gambling in bear markets, because people seek ways to make profits or at least to reduce their losses.
Moreover when the price of BTC is low, people are less reluctant to gamble it since it's less serious if they lose it.

I don't really think there is any correlation but even if there's anything, it should be other way around. People who are regular gambler, are not much bothered about the price of bitcoin. Only occasional gamblers are the one who is bothered by its price fluctuations. For them, the bet frequency should go up when the price goes down and vice versa!

I don't know if I would even say that's the case, I could see it being the other way.

When the price of Bitcoin goes down substantially, and people have lost large large deals of money that they've invested into crypto -- they may turn to gambling to 'win it back' because they don't see the price of BTC (or whatever) recovering back to what they bought it for.

Maybe if at bull run, people do gambling and want to aim bigger rewards. I mean with same amount in BTC (which actually very big in usd) people can win in a percentage but when they sell it, it will give them a lot of fiat. Maybe that is why a lot of people like to play in bull market.

I don't know if there were already  previous researches or studies correlating gambling activities with Bitcoin's price but if we put ourselves in the shoes of gamblers, I think there is a very high probability of correlation or connection! So let us put it this way and put ourselves in the minds of gamblers:

Assuming I'm a recreational gambler  and I have 1 BTC which I had recently bought at the price of $8k per BTC. Now after a period of two weeks, the price of BTC suddenly went up to $10k! Immediately realizing that my BTC's value had increased by 20 percent, I was tempted to gamble my gain amount of $2k, thinking that if I lose, I still have the remaining BTC valued at $8k, and thus would convert it to fiat or stable coin and wait for BTC's price to dip at $8k level and buy another 1 BTC which in effect negates my loss of $2k thinking my original entry price of $8k BTC is still the same! So technically, IMO, an increase in price of BTC had a correlation with increased gambling activity.

Conversely, assuming there is a bearish market trend in which I had bought 1 BTC at the price of $10k and after a period of two weeks, it went down to $8k, then most likely I will not be tempted to gamble even a small amount of it since I'm expecting a rebound will occur sooner or later and would instead would hodl it until the price recovers just like what @crwth had illustrated . At this point, we could assume that a decrease in price of BTC also had a correlation with decreased gambling activity.

I know this is quite fictional but it could really happen in real life. I hope there could be more formal study on this topic from the academe so that we can gain more insight about this matter and hope our assumptions will be proven correct! Imho. :)

IMO,there is no direct correlation between the prices and gambling activities but when we are in bull run eventually more people will enter into the market so it also paves way for the people to spend their coins as well and most of the will choose gambling since they find gambling sites accepts cryptos more than other sites.

My mental processes goes like this regarding Bitcoin and gambling correlation: if Bitcoin price raises, I'd rather gamble more so I make more of those BTCs, but on the other hand I'm gonna risk more as the Bitcoin I hold is worth more, so it's kind of a mental battle that causes me to be nervous so I'd rather not play.

If the bitcoin price dumps then I want to make more profits from gambling in order to make up for the lost value.. but then I'm afraid that I could lose my BTC and potentially lose the piece of the pie when it starts trending up again..

So in conclusion it is best to only play for fun with small stakes  ;)

Well i havent seen any difference on the gambling sites the last 4 years that players were gambling more or less depending on the bitcoin price.

Personally I also don't play different. I play with the same amounts in btc even when the price was $3000 or almost $20000.

Technically, assuming the absolute value being wagered stays the same, then the amount of BTC wagered during bear seasons should increase as the value of Bitcoin decreases.

However, this isn't always the case. When Bitcoin loses value, we sometimes see dice sites and other casinos slow down slightly, likely because players are still reeling from their market losses, and are unwilling to take on additional risk.

Then again, some investors think the exact opposite, and see gambling as a way to quickly recoup any losses.

Though this isn't based on any real-life experience of a gambler, I still consider this a very good hypothesis. It would make a really good addition to the existing studies about gambling, but this time it is for online gambling.

Since fiats' values changes aren't as pretty often (centralized) as cryptocurrency, the behavior of an online gambler could differ from those who use fiats. As you stated, if a gambler has a $2k increase on his initial buy of Bitcoin, he would definitely/probably tend to gamble as you will not lose anything even if you lose, and on the contrary if the initial buy was $2k under its original price, the gambler won't even bother.

I'm not very familiar with this method but I've seen gamblers who bet neither chips nor cryptocurrency but in-game items (from games), then accepts cryptocurrency as payment or a copy of the said item, and sometimes they trade the said items for an exchange of either another in-game item or cryptocurrency.

There is nothing much as a change from the gambling houses based on the price moves of the bitcoin. Most of the time gamblers have things calculated in terms of USD and spends in the form of bitcoin. This makes them spend high on bear market and low volume of bitcoin while the market is bullish. Same as this will be the competition rewards from gambling houses. Very few gambling houses used to reduce the reward based on the market trend while majority adjust with reference to the trend of the market.

Apart from the effect of bitcoin price, the gamblers will continue to play in both the bull and the bear market. Gambling is a separate industry and they use crypto as a form of payment. It does not matter what is the price of the bitcoin other then when the price is higher people will gamble with lesser satoshi and when price is lower, people will bet with more satoshi.  
The reason for this is that we are still in the era where we calculate the reward and risk in dollar value. If some wants to gamble with 10$, he will convert 10$ in bitcoins and play with those converted satoshis.

This is a good theory and it is very accurate and reasonable if you think of it that way.
But I also believe that most of the gamblers in crypto doesn't really care about it's Fiat price unless they are already done playing and they would check how much they've earned or lose specially the high rollers.
So for those gamblers the price wouldn't matter too much and if they think that the price of Bitcoin is too expensive of course they would move on into another crypto like Eth or other accepted crypto in the site that they are playing.

Everyone isn't just willing to spend bitcoin during the bear market because the value and price is lower. Even I, last year I limited myself into such because I want to keep it because I'm just waiting for the reversal.

And when the price gets higher, it's easier for us to spend it because we are not conscious anymore with the price. We can spend it anytime we want because we have a secured amount that we would like to spend and in bitcoin's quantity, that's going to be a bit lower.

People who regularly gamble with cryptocurrency for the purpose of anonymity or not needing to submit KYC/something similar will likely gamble a similar amount whether or not the markets are in a bull market or a bear market, though I imagine there's also a group of people out there that might hold off gambling with crypto when prices are in a clear uptrend. That was the case with me for a few months before and after the drop to $3k- I largely switched over to gambling using fiat for some time and sat on my crypto stash while I waited for things to move up again.

That's just me, though, and I'm oriented towards holding and occasionally trading mid- to longer-term plays with crypto. I'm sure other people think differently.

Somehow, the bitcoin's price affects the gambling habits of many people.
But not all gamblers, because some of them are using fiat to buy crypto so it doesn't matter the price fluctuations.
However, for those who are already crypto holders, they might think twice of spending their coins if they feel that it is not worth spending it.
So they will use their fiat instead. In conclusion, one way or another bitcoin's price has impact on gambling business.

It does since Bitcoin's price is based on the law of supply and demand. Not all of crypto gamblers are fan of crypto nor investors thus these people are contributing to the market even though they aren't willing to for the sake of their urge to gamble online. Some Bitcoin investors are also once a gambler, that includes myself.

This is rather a very interesting argument though it contradicts my previous assumptions, nevertheless, I welcome the idea since it indeed reinforces or supports the assumption that gambling activities has a direct correlation with Bitcoin's price as what OP is suggesting and either way, I find both assumptions might also be correct! :)

But I don't think gamblers using bitcoin can make major effect on its price. The whales, be it companies or groups of people are the ones that can have big impact when it comes to bitcoin price movements.
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Yeah I gare with with the real crypto currency gambler no looking for the price of bitcoin or altcoins they for their gambling habit, I believe the real gamblers are gamble to enjoy their habit not because of the price value of the crypto.

OP title has nothing to do with "gamblers using bitcoin can make major effect on its price" as what you are implying. I guess you are mistaken here since the topic suggests the notion that "gambling activities correlates with Bitcoin's price" and not gambling having an effect on BTC's price which is wrong. Imho. :)

Gamblers are hesitant in placing bets during bear markets especially when using Bitcoin as bet. It may have nothing to do with how it affect the price eof Bitcoin but it is part of a gamblers strategy that refrain them to gamble during bear market.

I think the bitcoin’s value have no relations regarding the gambling activities. Bitcoins price vary because of supply and demand just the same with the traits of fiat money. Also one that influences the value is the news, spreading negative or positive information has a big effect in the price of cryptocurrency. That’s why I don’t think the gambling and betting games involves at all. It is just one of services offered or presented in cryptocurrency which many hook up to.

Many gamblers are by their nature passion people like traders as well. Yes, they look at the Bitcoin exchange rate as people do in relation to the dollar to the national currency :). But the game often takes place for the sake of playing and testing strategies, I know that by myself. They don`t really think about the price. I'll call it some kind of addiction.
So if there is an influence, then it is really minimal. Gambling is not the best measure of Bitcoin`s price, because when the network is overloaded then amount charged for the transaction fee increases = quantity of people to play on BTC may decrease.

Well when bitcoin price is high, with just a little bet of bitcoin would tantamount to a devent amount of money. Thus, gamblers would never risk betting in a huge amount and because of it, gamblers can play longer games because the amou t their betting is smaller than they normally do when bitcoin price is low. On the contrary, when bitcoin price is down, gamblers would have to stake a huge amount of bitcoin to be able to gain more money equivalent to fiat.

The point is no matter if bitcoin price is in the bull market or the bear market, a gambler will still gambling. The gambler doesn't overthink bitcoin's price because they only care about gambling. But yes, the volume will be increased or decrease regard to the market price as you said, and that will affect the gambling site traffic. Probably, some gamblers will think about that because those gamblers care about the price, and they don't want to spend more bitcoin if the price is decreased. And if the price increases, they are playing with a lot of satoshi amount or otherwise.

its your own topic but why your confuse ? but that should be the reason why your asking it . we gamblers have an idea with this because we are the ones that uses the gambling site but it also depend on the gambler  . some are playing at all times no matter what is the state of the market while some others including me dont gamble when the prices are pumping especially btc but i rather hodl or withdrew my btc and selll them for instant profit . site owner also know that , or we can also see that if they publicitize thier live stats  .

Actually, not exactly wrong. He wants to point out that even if gamblers use Bitcoin as a medium in gambling sites it will barely touch the price changes on the charts, thus it does not have any correlation or connection to the market price. And that the major contributors like whales, companies or even group people are the ones who can change the price of Bitcoin significantly.

Though this could be discussed in another thread, he has point on that.

Do you really think those huge companies and whales could change the price immediately without the prescence of us, the people who deeply patronized crypto as sources of financial freedom? Gambling  was sincerely separated from bitcoin economy, however the correlation has nothing to do with it. Gamblers will always use bitcoin regardless of what's the value of it. As long they enjoyed it, that's the most important aspect.

Reading the responses, it seems the ideas widely vary. One says he will gamble more if Bitcoin is bullish because he is more attracted to it because of its high price, another one says he will take a little pause or perhaps continue gambling but with fiat and not with Bitcoin anymore because of its growing value, another one says he does not mind gambling if Bitcoin is bullish because he has already made a profit out of it. And so on.

To me, it does not matter if Bitcoin is bullish or not. My gambling will continue with its normal pace. What will change for sure is the amount I gamble. If I normally place 0.01BTC per bet prior to the bull run, I will probably change it to 0.001BTC after a strong rally.

I suppose the gambling sites have data on the average daily bets made in BTC, ETH, and other cryptos and its USD equivalent. It is a very important statistical data for any gambling site.

As far i know some of gamblers only thinking to gamble with the amount of money from their pockets so usually they will ruled out about the price of movement but indeed if gambling when the price high the cost will be so high too but i think real gamblers who became an regular gambling will not too concern about the price and as long they can starting the day with gambling it's will good for them especially if they won then it's will makes them very happy

It could be the reason that I see why the gambling activity was affected during the bear market. Even if so everyone has been gambling with fiat, we still see the effect of it.

Only a few are willing to gamble directly with fiat or converted into bitcoin. And that's what exactly I'm saying. Many feel that regret if they will spend their bitcoins at a very low price.

As we can see, those gambling enthusiasts addicts are having a different with the crypto enthusiasts.
Gamblers continued to gamble no matter what will happen to the market because they are in gambling habit so they don't care about the price. But in this case we couldn't predict it very well because each of them had a different perspective way how to manage between gambling habits and the usage of crypto.

Probably there is a small percentage of gambling activities that correlates with the price but that not much. I still believed in whales who keep trying to manipulated the market price not just by gambling activities. For me, I prefer to accumulate bitcoin when the price drop.

Yeah its a good idea! If only we could get some available data from these gambling sites like on the number of users online per day, total amount of wagered per day and the frequency of visits per user, etc., and correlate this to certain periods where the price of BTC were either bullish or bearish, then  I think we could probably interpret it more efficiently and consequently  arrived at a more accurate conclusion to test our hypothesis.

How was about the experience? And what about if those bitcoins you are using to gamble was bought when it was $20,000.
Are you still going to use it for gamble when we dump to $3,000? It still fair? Since you already lost when the price dumped ane you would also risk those bitcoins in gambling?

I have created a topic like that here: Gambling risk is higher when we are on Bear Market? (https://bitcointalk.org/index.php?topic=5191408.0)
I think what on your thoughts are fit on that thread.

yes its fair because he already accept the conditions of buying a bitcoin  . as a buyer , you can accept whatever happens on the price once you already bought your coins  .   you have no choice but to use it for playing a  gambling if you really have that urge to play and if ever you dont have any patience to wait for the price to recover  . the only difference that i see on gambling sites before is that bigger amounts are being played on them since bitcoin price is lower that time but now , lesser amount of btc's are being played but the value of those coins are still bigger

I don’t think it correlates although the gambling industry is the one where bitcoin and digital currencies are used heavily and this industry is one of the top supporters of bitcoin in general.

However I think the price correlates more to major events happening around the world,for example when an exchange is hacked and the amount of money lost is in millions of dollars the bitcoin price may tumble.

That will need more observation if we want to get more data from the gambling site. Besides that, I think we can make some tables to knowing how much the number of users online per day as you said, how long their stay at that site, etc. The only things that we do are ask those data from the gambling owner so we can know the real data in each gambling site. But I don't think that the owner will give the data to us since that is their secret ;D

Some investors aren't into gambling at all, I don't think gambling and bitcoin correlates. They will rather trade or hold it than bet in gambling. Though gambling is popular in crypto users and tons of gambling sites accepts crypto now but some only put minimal amount of BTC except if they are already addicted to it. Since gambling is much riskier and tricky to do so. I think those who gamble put only small percentage of their holdings in gambling or for just sake of taking chances which is not enough to affect the bitcoin price unless they are whales too that are good in gambling. Broader adoption and news affect BTC price more than gambling.

For me, it depends on the gambler because if you are a regular gambler or addicted in gambling, you will not mind the price of the bitcoin except if the price range plummets, that you will notice the change, but then if the difference is not that high I'm sure that you will don't care about it. But if you are a casual gambler and focus to much on the price, I'm sure that you will notice all the changes that happen. :)

This is a very interesting question, imagine that the price of 1 BTC was $100,000. if you were on a gambling site you would probably bet with 0.0001 BTC = $10, but if the price was $10,000 you would bet with 0.001 BTC. I think the higher the bitcoin price is, the less bitcoins people will spend on the gambling sites. a person can place 10 bets per week even if the bitcoin price goes up or down, the only thing that I believe that person will change is the bitcoin value that will bet. I believe this can answer your question

That is most likely treated as a confidential set of data. If that is so, such information is only shared among stock holders, board members, and other executive staff of these sites. But then they are also submitting regular reports to the respective government regulating bodies for sure. Still, we can hardly get hold of these information. For now, we cannot have anything except rough estimates and guesses.

But as I've said, based on my gambling pattern also, gambling activities will not be affected by the market's performance, except perhaps the amounts of bets placed.

The gambling industry is so huge in the industry and it totally affects the bitcoin price.
If gamblers lose money they are going to set up buy orders in the market and if casinos accumulate a lot of amounts of cryptocurrencies they are going to sell them in huge portions in the market and push the price down.

Well, that is a good analogy. If we are going to rate the percentage that the possible help by the gambling industry to the bitcoin price, I think it is 25%. Why? The transaction of it from the deposit and withdrawal will give contribute to miners to generate bitcoin and the accumulation. While storing your bitcoin in gambling site just for example you are investing using bitcoin that is being considered as holding.
So, the fact is it has a contribution but not much that will feel those impacts.

Gambling sites doesnt really care on what would be the market trend yet their business would still operate no matter where prices do go.Important for them is that people do still continue out to play and deposit all of their coins specially btc and other alts no matter what would be the price since is always pegged up to dollar rate.

On players side- it depends because as i said earlier gamblers will vary on usd price or value when making bets as its value drops the btc amount goes higher and if you are a holder or investor you would surely think twice before spending lots of btc on gambling rather than saving it on the bull run.Accumulating through gambling is also ideal but as said this is always been a risky move.

I don't think there is a correlation between the price of bitcoin to gambling activities. I mean, it's up to the gamblers perspectives. There are some gamblers that would say, "Oh, the price of bitcoin goes down, I think I should hodl." And some could go, "I don't care, I'll just gamble whenever I want." Probably, this will take us to another topic that will separate regular gamblers or gamblers that considers the price of bitcoin.

The correlation is valid really and its because every of our activities the use of bitcoin, we are not oblivious of the fiat equivalent because that is the basis of attaching value which would be the compensation for every risk that you have willingly or unwillingly had to bear. The same thing is applicable to exchange sites that during the period of high price, there is always high volume and vice versa when we have low price.

The solution to this, I don't see it happening anytime soon except we grow to a point where majority of things to buy using fiat can then be purchased using bitcoin with an established amount of bitcoin without its corresponding fiat value be the determinant value and gradually increasing due to  mild inflation.

Agreeing that is the theory, I don't have exact data about gambling activities but at least I'm sure gambling activities are always high because there are a lot of crypto gamblers in the world and it seems to prove that crypto gambling isn't too correlated about prices, because even gambling activities in the past were very high before bitcoin prices reach the moon until finally we see there are some gambling sites that close and even sell gambling sites when bitcoin prices go to the moon or even before reaching the moon like some gambling sites like rollin (https://bitcointalk.org/index.php?topic=2115806.0) and directbet (https://bitcointalk.org/index.php?topic=393147.msg19130468#msg19130468) and maybe there are many others that I don't know for sure about it.

Then, my friend, you're in the wrong thread.

The OP is clearly talking about whether gambling have a correlation/connection to the changes in the Bitcoin's price. Yes, I do think that these companies and whales could change the price immediately. If you're not aware, miners and investors/traders are the ones who have a really big impact on the changes to the chart. Because they're the ones who constantly bring it about, while gamblers are, well just gambling. You're using Bitcoin as a medium, meaning "what" currency you bet will also be the currency you get, e.g. if you bet Bitcoin you'll also get Bitcoin, assuming that you won. There'll be no exchange to another currency or a new amount of currency will be added whatsoever that'll make the market price change.

If you enjoy gambling, cheers to you my friend may you win lots.

Once a gambler has doing a habit just to gamble then, it will not change even if the price of Bitcoin goes up or down. Gambling activities will depend on the gamblers, no matter how the price is they don't care. The fact that gambling enthusiasts are different to crypto enthusiasts. They just gamble as they want. Nevertheless, we can not conclude in general because all gamblers have a different perspective on what they want. So, therefore. This can not correlate with the bitcoin price.

Agree, even though gambling users are getting bigger though it will not affect to the market. For example if a player get big wins in gambling or gambling sites become a scam, I think it doesn't have too much influence on the crypto market. Gambling business is not directly related to the crypto market, because gambling activities are not affected by the ups and downs of prices. Even though prices are falling, gamblers still play gambling, right?

We could only guess how much the traffic the gambling site get in monthly because we don't know the right information. But maybe if we can get the information from the government, we will know how bigger the traffic but that will not be easy too. Yeah, you're right, gambling still goes on no matter if the market is down or up because every day people will come to the gambling site to gamble.

Have you read the whole first post?
What I said is those Gambling activities that uses Bitcoin for every bets they made.
Like for example, if there are some massive dumping within the week, we can see more people betting using bitcoin or it is decreasing? And in opposite, if we are stable climbing (pumping) on the price of Bitcoin, can we expect a lot of gamblers that will use Bitcoin to gamble?
 (Read the first post again for further explaination).

I dont watch too much statistic about gambling sites.
But if i see on top big player, this year the biggest bet already dropped around 40% if we compare it with last year.
There is also in gambling sites now is like quite. I don't know what happen, but i think that is correlate.
Maybe if price bullish, some people want gamble coin to get maximum profit, but not when price bearish, maybe hard to get it.

Where did you get this information from? Or is it based on your observation? I guess you'll have to base your findings on the total number of gambling companies that use Bitcoin or cryptocurrencies. I wonder if anyone here has observed the correlation. That will probably be a good way to determine the future price of cryptocurrencies.

This is an interesting analysis which can be done. I don't think it directly affects the price. However, if a very rich player wins huge on casino, he will probably sell that (unless he's addicted to gambling so much to play it till he loses). And when he sells it, it will create a dump order that might affect the price slightly. Now add more such winners and the effect would be tremendous! Hence, I think casinos do in some indirect way manipulate prices of crypto.

There is a pump and dump, and therefore in short, there's a market manipulation.
Gambling industry in crypto space as it keeps increasing, the demand should also increase and it will not result to a pump and dump.
Regardless of the price of BTC, gambling industry will still continue to operate as they don't hold like traders, in fact, I believe they are making ways to fight volatility so they will not get affected to it, and they can operate as profitable as they are expecting it.

I still bet even if the market is bear or bull trend as long as I have the funds to bet, bear or bull it's still on the motivation of the gambler, but bull should motivate the gambler to bet more, because they want to win big and if they win they won a huge amount because the price in the market is now higher, but on the other hand people will still bet in the bear market in the hope that what they've won will be their investment for future price increase.

Gamblers will keep playing no matter what situations are there inside the market, as long as they can afford to finance their bankroll they will play and enjoy the game, chances that the numbers of people who gamblers while bull are moving upwards is the reason of some greediness of those who able to earned from crypto and wanted to grow their money, while when earning around is too difficult those people are keeping their coins instead of going to gamble and lose their money.

I don't know how big the crypto gambling industry is, but I doubt it's a billion dollar industry already.
If it did not reach at least 1 billion that means it's just a small portion of the total daily volume of bitcoin and it doesn't affect much the price movement of BTC. Personally, I have never heard any news about crypto gambling that brings hype in the space, usually it's the news that would benefit all the audience in the space, like the Bakkt launch which did not even result to improvement of BTC price.

I don't think Gamblers use bitcoin because of it's price fluctuations. Gamblers are just people who do things for fun irrespective of how the market is moving they are more concerned with anonymity when it comes to these activities. Moreover even in bear runs gambling sites make similar amount of money as gamblers are more concerned with waging dollars. So I don't think gambling has any correlation with bitcoin's price.

Yes, maybe that is because they don't want to go to a real casino, and they want to hide their identity to play gambling. Once people were playing gambling, they will play again the other day. And there is no correlates with bitcoin price because they have another option for the coin to gamble. But indeed, the activities in gambling can be reduced in the decreasing of bitcoin price. Some of them are back to focus on the market to prevent the loss of trading.

People have conflicting opinions, on when they gamble bear and bull, but a gambler will have no season to gamble, it still depends on the availability of their funds but in my opinion they tend to gamble in the bull market because they want to win more and they want to take this opportunity to win more coins because it's like winning twice in the bull market.

Unless it is illegal/prohibited to country/region of the said gambler (or a minor), you don't need to hide your identity. I think it is correlated/connected, why(?) because of the exchange. In online gambling sites, it is presented that they're accepting different currencies (cryptocurrencies). That already portrays the obvious, there's an exchange between currencies. And sometimes, there's an exclusive cryptocurrency for that gambling site, so you have to exchange(convert), let's say, your Bitcoin to that exclusive currency, for you to start gambling. So, constant P2P transaction (in this case, the gambler <=> gambling site) makes changes to the market value. I don't know how impactful it is, but it does.

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You could say that. But the fact that you mentioned, a gambler exchanges his/her fiat money to cryptocurrency first before betting in an online gambling site, can be considered as indirect-correlation.

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Probability is the only statistic that is used in gambling. So I don't think Gambling-Statistics doesn't really correlate with cryptocurrency--but there's a different statistics approach to cryptocurrencies (I hope this isn't confusing).

Yeah, they might be correlated but I don't think the gambling volume is strong enough to move the price whether up or down. Everything is basically has correlation, the problem is that how strong it is.

As for me, gamblers would definitely use bitcoin during the bull run and try not to use it when the prices are low for the purpose of holding it. We all know that during the bull run, there's also a chance of winning higher than usual in gambling. It's the gamblers who deal with every market situation because their winnings will depend on the prices of altcoins and Bitcoin.

In overall aspect I don't see for bitcoins price to be a major hindrance for players to play on a certain gambling site.

They would play as they like and wouldn't matter if the price is going down or up as long they do know that they can possibly
able to earn some money if they do win in gambling.

Some might mind on their btc holdings in usd value but I'm sure that most of the players doesn't really care at all.

Exactly. I believe that there's a correlation. We just don't know how impactful it really is to the market value. Now I'm really curious about what activity/phenomenon strongly correlates to its market value, the big contributor. I was about to say, whales(?), but I remembered last December 2017. It was they who made it happen; it was also them who made the bubble.

I wish I could see a graph of some sort on what/which are correlated to Bitcoin's market value.


No, I don't think that would be enough to make any bullish or bearish trend. I believe that the gamlbing population isn't really that big (I'm pretty sure whales also gamble, but they won't spend 'that much' because they tend to do everything just to secure their money).

There's no correct data I suppose, each gambling sites has it's own time when gambler prefers to gamble, but I think gambler, prefer to gambling in the bear market because this is the time when trade their coin to other coins and other prefer to gamble, I'm saying this based on my experienced and all my friends, but still goes on funding and if the gambler wants to gamble.

Or maybe if there are some growth effect is too little that’s not enough to move the price high,gambling industry in crypto is a large market and mak the Cryptocurrency circulates more compared to the amount held by some small holders that only helps market circulations when they sell or by which happen very seldom and rare
Lol that’s another story mate 😂

Gamblers will gamble even wht coins they are using and depend on availability.because it’s more important to bet than to hold

I thought about the opposite, when ever the price of bitcoin goes down there will be more people risking the coins to accumulate rather than when the price is rallying. I usually does not gamble when the price is really high but hardcore gamblers does not care about the price, to understand the true answer to this we need to compare the gambling site statistics.

Well I think the same as some people here, that gambling and bitcoin prices do not correlate. Those who gamble will continue to gamble without being affected by fluctuations in the price of bitcoin, although sometimes there are some people who think otherwise when the price of bitcoin rises. The difference is, only when it's bearish and bullish, when it's bearish I'm sure most gamblers will buy more bitcoin and vice versa.

I myself too, when it is bearish I will return to gambling and when it is bullish I will return to trading. In my opinion, this is just a matter of strategy and money management.

Hey guys, anyone interested in betting with crypto, I have placed a bet for Nice to not lose against PSG in Kryptium. the odds are 1.77 for PSG to win. Anyone wanna join??
https://ipfs.io/ipfs/QmSKGyB7eFW32oWAeP7VNfq4zPXV2wSakZyjjKZLtHb8tM

That is an interesting theory but it is one that it will be very difficult to prove because not many casinos are going to want to make that information public, however it is entirely possible that as the price of bitcoin increases gamblers feel that they have an opportunity to earn more money in the casinos if they use their bitcoin and they feel the opposite way when the price begins to go down.

But I do not understand, what it is the point of knowing that information? Do you think that you could use the volume of bitcoin on gambling sites as some kind of technical indicator that could tell you when the price of bitcoin is going to go up or down?

You might've misunderstood. Yes, the OP did mention both bullish and bearish trends, but he never claimed that it is responsible for the price changes. In fact, he's just asking questions, if the number of gamblers increases when it is in the bullish trend and if the number of gamblers decreases when it is in the bearish trend, he just wanted to clarify. To make it simple, if Bitcoin's price increase does the number of gamblers also increase and vice-versa.

The matter that is being discussed (to whom you replied) is a bit about, if this is true, then does that also mean that Gambling activities contribute to Bitcoin's price (something like that).

This depends on the losses of the person if he/she wants to recover his/her investments.

Generally, if prices of BTCs are low people are more inclined to gamble due to having lower fees. In addition, people who incurred loss in the process would want to recover their investments through a method that may yield them high-returns with a higher-risk. Instinctively, they get desensitized and think about recovering everything that is why they proceed to gamble.

On the other hand, if prices of BTCs are high, people would want to invest their money in hope of incurring high-returns. Persons who gamble their resources would want to invest than to gamble their precious resources.

Reading to all the comments there is no majority answer there are who favor gambling in the bear market and there are in bull market, but one thing is sure people will gamble whenever they have funds to gamble in regards to the situation, bear or bull, there are who gamble on bull market because he already made profit from the bull and there are people who gamble in the bear, hoping to double their winning to prepare themselves in the bear market.

Have you ever searched a study about this? I think there is study about what encourage Bitcoin price changes, but not many. Unfortunately, we can't really have a final answer for that anyway. Crypto market is likely a weak form efficient market since there are still many people making money more than other from trading and the price mostly reflecting historical price.

Not really sure, but obviously gambling doesn't have enough strength to dictate bitcoin price

1) Well, I could search for it, but isn't it more interesting if we discussed it here in the forum?
2) I don't understand this one, could you rephrase your statement?
3) Yes, it's obvious but that's not the point. No matter how small the gambling contribution (assuming) may be to Bitcoin's price, what matters is, it is correlated with it.

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Can't argue on this one.

Right, gamblers will just gamble no matter what coin to use or what price today. Even though some gamblers have preference coin to play with, far before it, they do so because they love gambling, not because they love a specific currency.


Not sure in this topic, afraid to be off topic.

I mean, crypto market is in a weak form of market efficient hypothesis (EMH) - the price must only reflects historical price and not all information is publicly available which leads some people to have more information than others. It make short-term prices a bit random because of this gap information and let people with more information to take more advantage or profit from the market trade. In this case, most of us won't be able to clearly predict what price of an assets by tomorrow, but we can still be able to predict like what is the best price on this week or month (to take moment to buy or sell).

Even though Bitcoin fundamental information is publicly available which the market efficiency should be called semi-strong, it still looks weak for me.

it's hard to get data if we are just going to rely on a data using Bitcoin as a parameter as many gambling sites uses other Cryptocurrency as well, and not to mention gambling sites that as their own coin, some examples are Tron and Eos gambling site that is dedicated to their tokens.

But compared to the gambling sites that are using bitcoin, the gambling sites you've mentioned comprises only a small portion of the overall crypto gambling industry. What we have to determine now is the estimated transaction of bitcoin for crypto gambling, which I don't think we can get a reliable data about it since gambling sites are not all license and they are not sharing their operational data to the public.

Bitcoin price is not dependent on the gambling, gambling sites is just a small portion of the whole bitcoin supply. I think the reason why you noticed that is, I think some or a large group of gamblers is still looking at the price, because why they are going to gamble when the price goes up and they will win by just simply converting into fiat.

That's not true. People can observe the Bitcoin's price via Live Charts. I don't have the time to google it and leave links for it, but there are websites that provide such information. Be warned tho, some of these websites are not accurate (sometimes)--just to create a false bullish trend. So I recommend looking up for multiple ones.


There are also price predictions, and they're also presented through graphs. Though they're just speculations, at least we can see how it will turn out in the future (tomorrow), and not be confused about something like a bubble.

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Well, you don't necessarily use Fiat to exchange into a cryptocurrency in order to gamble. So you don't have to worry about it. As they accept other cryptocurrencies as well.

Every bitcoin related activity in high number definitely will have impact on the price levels of bitcoins. For example, someone sees a winner of bitcoin gambling like a lottery winner revealing how he got easy money from BTC gambling then definitely 1% of those viewers may copy those steps for easy money. They may buy some BTC for $10 or for any least amount from LBC or from their friends to enter gambling.

I have read many bitcoiners had adopted BTC for the reason of gambling. When gambling attracts new people, there would be plenty of chances for prices to get impacted due to gambling activities.

It may be because of the anonymity that's why they switch from fiat to crypto currency. But there are other advantages also if you are using crypto currency than fiat, like easy and faster withdrawal, some may not need a KYC unlike in fiat most of the time they ask for KYC. But more online casinos today are asking KYC already which is using crypto or fiat doesn't matter.

Gambling activities do not correlates with bitcoin prices however what increases bitcoin price is demand so if gambling activities are high then it may boost the demand of bitcoin to stir up bitcoin price

Yeah price does affect the volume of bets in a casino. When the price is starts to go high or reached a higher position recently, the gamblers have more money to gamble ("notice how I am saying more fiat money instead of coins, since gamblers bet based on the value of the coin instead of the amount of coins). So when the price is high, they are able to place bet with lower amount of coins than before (lets say they bet 10 btc which was 1000 USD, after the price rise, 10 btc is now 10,000 USD. Thus they now can place 1 BTC bet 10 times before they go bankrupt). Thus we see rise in volume.

Gamblers would do that so for sure the gambling sites operators are doing the same.
Both of them are playing with the value of bitcoin and not keeping bitcoin to be affected with the price volatility.
They will convert it to cash regularly and I think every casino has their ceiling amount that when they reach it, they will convert their money into fiat.

but nevertheless, according to statistics, it is already clear that the activity of players is falling along with the price of bitcoin.  None of the owners of Bitcoin will give their coins on the cheap.  It is to continue the game that other cryptocurrency options are provided.

Just to gamble(?), they would neglect the price-exchange (fiat =>> crypto) of cryptocurrency? That's a foolish thing to do. Just by that, they already lost, what more if they lose on gambling, that's back to back messed up.

People shouldn't do such a thing. If they really wanted to gamble using crypto--don't casually convert fiat to crypto, just because you can. Just use another crypto, or if you don't have cryptos that they accept--just don't gamble.

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Yes, it does. If the gambling activities are high, then it's probably in the bullish trend, as the risk of loss would be minimal. But if it would be on the bearish trend, the number gamblers wouldn't be as many.

I don't get your explanation about a bullish trend or bearish trend.

What I understand about the trends is it relates to the entire market movement, we might see a bullish or bearish but it does not depend on gambling activities in general or the cash flow (in and out) in gambling because I believe the gambling industry does not even hold 50% of the entire crypto circulation in the space.

Live Charts won't really help, cause it doesn't give enough information for people to take right trading decision.
Both fundamental and technical thing are publicly available for sure but still sometimes people lose big funds or maybe an opportunity to take profit on their trade.

Let's put an example :
X - After checking the charts, X finds that tomorrow, Bitcoin price will jump hard and he decides to buy some Bitcoin.
Y - After checking the charts, Y finds that tomorrow, Bitcoin price will slightly go down and he sells out all of his Bitcoin.
Then tomorrow is coming and Bitcoin price jumps hard.

This is what I mean about information, if Y really has information to take right decision then he would have not sold his Bitcoin.

In the strong-form of market efficient hypothesis (which is likely impossible to exist), people can't really take significant profit cause everyone has same information and the price won't have a significant changes.

That is why I called crypto market is in a weak-form, perhaps in the future, at least for Bitcoin, it can changes to semi-strong which we can find that from the price changes.

Lastly, I know that nothing last forever.. and it's possible for everything to sometimes changes to others and back to the previous  conditions.

Could you please put the links about the statistic? It will surely help us to define the condition.

I guess that you are forgetting the fact that most crypto gambling operators are true believer of bitcoin's future and they hardly go for encashing their bitcoins. I blame whale gamblers for fluctuations of bitcoin markets and definitely not the gambling houses. There could be many exceptions like a famous gambling house may start a crypto gambling business and may encash their BTCs time to time.

In every crypto gambling house, you may notice a whale who is dominating in terms of huge wagering and I believe most whales are good in market manipulations. When a whale is good in prediction of market fluctuations, then I believe it would be much easier for them to manipulate even in gambling houses with their vast BTC hoarding.

Gambling companies are taking advantage of the trend and adaption of bitcoin I think. They accept crypto because of its features like being transparent and decentralized. I believed that not all casino owners/companies are a believer in bitcoin they might riding with its features. In online gambling, fiat is more on disadvantage than bitcoin because of countries' restrictions. I don't know how whales do with their winnings, They might reroll it or be converted to fiat If I'm a gambler that plays on a crypto accepting website I won't convert it into fiat unless it's necessary.

Its impossible for those crypto gambling sites doesn't care nor think about bitcoin reputation and advantage that's why they do make one in the first place because of the possible benefits that they would able to obtain if the market tends to go uptrend.The only thing here is that they wont much be affected in terms of volatility even the gamblers do continue to play.They earn more btc when the price had slumped down even though the price goes the same way but they do know the chances on making more profits is still there.
This do oppose on players perspective but it doesn't matter though since most gamblers doesn't really care on how much they do spend out.

Both of you are right, people will buy bitcoin for gambling, but they also buy altcoin to gamble. There is no stop for them, especially if they have an addiction to gambling. They will continue again and again without care about the bitcoin price. For people who bought altcoin, they don't need to spend a too big amount of bitcoin because altcoin price is not too high as bitcoin. That is the reason why people buy altcoin to gamble. They don't have to think about the price whenever the price is up or down.

That's an interesting analogy.

But then again, it all falls down to the decision of Y. That's why I've mentioned earlier that you have to look up for multiple Live Charts. And it also depends on the person, if the trader has the skills and strategies. But I would argue that everyone has the same information, if so then why X and Y have different decisions? So, I think Live Charts still matters, you just need to find the right one--that's reliable. I'm sure a lot of traders gain profit by this very same method. I can't really prove it to you but in logic, it is quite correct.

For the year 2018 ~ 2019, the price differences are really significantly close, because it is volatile I would say, its the "stable" price of Bitcoin so far.

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I apologize, that's not what I meant.

What I'm trying to say is, whenever we have a bullish trend, people tend to gamble but whenever we have a bearish trend they wouldn't. Yes, you're correct, gambling doesn't have the volume to "contribute" to Bitcoin's price change, it might be insignificant (or even a spec), but the point is gambling activities is correlated to Bitcoin's price, but not vice versa.