Bitcoin Forum

As what the thread title says, I like to know based on your opinion how big the contribution of the gambling industry to the entire market.
I have been a gambler for awhile now and I believe that with the contribution of our industry, it will only make the market stronger in the long run, and it's one of the reason why adoption is happening at a very good rate IMO.

In entire crypto market? At least on this forum, we are having more number of gambling campaigns against any other services. But, that does not guarantee that people are converting their fiats for gambling purposes or new people are entering into crypto space for the reason of gambling.

Do you have any track of a famous gambling house started accepting crypto payments in recent times? I mean if we see any such thing then we can assume houses are trying to expand their business by covering crypto people.

In my observation, I do see big number of gamblers online in most gambling sites compared what I have seen some 2 years back. It means more people are gambling than the past years. Also, I have read on this forum that many people had entered into this forum after realizing the benefits of gambling with cryptos like after many bitter experiences with fiat based gambling. It means gambling helps people to adopt cryptos for its own reasons.

BIG ENOUGH that the gambling industry could clean the dirtiest money in the whole world. Imagine how do they contribute with the oligarchs? They are the ones who play the laundry game. Whales of the cryptocurrencies are relying on these gambling platforms to clean their cryptocurrencies. That's the truth. So Gambling companies are very vital to our industry.

As of now, we wouldn't feel the benefits of gambling. But the time when we will need to clean our crypto due to taxes or crime, Gambling platforms are the ones to connect with. If only churches could adopt cryptocurrencies, it would dominate the laundry business and gambling platforms will be kicked-out. IMO

In my own perception, I thing the contribution of gambling industry is about 60% because based on my experience it seem many gambler right now is interested and increase even more day by day. Also many players want to enter in gambling world because they want to take the opportunity to win and get earn.

It is hard to tell, but the impact must be significant

With that said, we have at least one example where the contribution of the gambling industry is overwhelming. I think it can be reasonably claimed that most of Dogecoin's market value (read, price) comes due to its being a coin of choice for online gambling. In other words, if there was no online crypto gambling or Dogecoin wasn't that popular in this industry, it would likely have already kicked the bucket and joined the plethora of now-defunct shitcoins. EOS and Tron seem to be the second best candidates whose price and popularity come about mostly through gambling

I don't know what's the percentage or how much it rakes and it contributes to the entire crypto market. But what I'm sure of is that it's one of the biggest contributions that the market has ever had. A lot of whale gamblers are into cryptocurrency because they can't be tracked and they can easily gamble offshore without even detecting by their government. I think if someone dedicates his time looking for some valid source, we'll check it out.

Like tbterryboy, I am not sure I understand which market you mean. It could be about the percentage of people who use cryptos primarily for gambling, or the profits on the gambling industry in the world compared with some world economy figures... And is contribution about profits, prices, users or something else? I've found some data on gambling (including online gambling, although it's obviously not necessarily and probably mainly not crypto gambling) on this website (https://www.casino.org/gambling-statistics/) but perhaps you meant something very different. Then I've seen articles on how cryptos have changed gambling, but, interestingly, not vice versa... I do believe, however, that crypto gambling is one of the main use cases of cryptocurrencies nowadays.

I think gambling is the strongest industry behind crypto right now followed by the red lights industry.I think many of the people watching premium porn or gambling don’t like their family to find out in credit cards statement for example and that’s why they will choose crypto for such transactions.This is known to the market but to make that extra step in crypto we need a few industries to join these too.

After the adult industry, the crypto gambling platform is used for hiding the identity and using the offered services freely. The intention should be clear for everyone and the total contribution percentage increase every day for this reason. Even the traditional gambling sites offer a crypto payment oslutions for the gambling banned couintires and I have faced with the issues for the mentioned reason.

That is actually the major advantage of using crypto in the gambling industry. Most of the online casinos are not requiring KYC so many gamblers are now going into online crypto casinos. But honestly, I don't have idea what percentage are we contributing right now. For crypto gambling, I think it is hard to determine if online casinos are not giving their figures.

But will give a link about global gambling statistics -

https://www.casino.org/gambling-statistics/

They will only require you to pass KYC if you have been found a red flag with your account violating their terms of agreement.
Base on that stats, Macau made $38-B in 2018. This is a country that has a big portion of profit coming from gambling so we have an idea that's being applied for only one country, how much more for the crypto gambling community as a whole?

Gambling industry contribution to which market or economy ? Your question is a bit confusing. I do not think gambling contribute to the growth of the economy but most of the gambling casino are not registered and in places where gambling is prohibited, you will never pay taxes on the gambling returns. However, crypto has played a major role in making gambling business popular.

uhm contribution? I'm pretty sure gambling just takes advantage of the medium or existence of BTC/cryptocurrency as a way to invite more gamblers to play in their sites and the likes. Still, it isn't like the adoption of crypto to gambling had 0 effect on the market. It'd be more like a mutual cooperation between the two, where usage of Crypto widens the accepted users of the gambling industry, and the existence of crypto itself is spread through the various casinos/gambling sites made for them.

Still, if we were to compare it to contribution made to the attention BTC has, it would be less than 30%, maybe even lower. Vast majority of the attention BTC has was obtained through the market boom of 2017, as well as its usage of a decentralized system. The concept of it being used in gambling is nothing more but an additional feature imo.

If i get it right what you meant, I think maybe 20% .. that's just a rough estimate and I could be wrong.
The thing is, we don't have an information and I had never read any article estimating how big gambling industry's contribution to the whole big crypto market.

The manipulators might do their thing making price looks very good or bad but I am pretty sure gamblers would not care that much.
they need crypto to gamble, that's it and they'll cash out when they need it to.

I think the percent of gambling contribution is about 50% maybe because it has crypto involve. But if no crypto involve then its percentage is less than 30% because most of player want to win big, also they will choose to gamble in actual than gambling online if no crypto include. Also I think gambling has a big contribution to all gambler with or without involving of crypto but because of some counter not allow to gamble and illegal im some country it is still can have operation in privately.

If you are talking about the crypto market gambling is really helpful to increase the value of the coins because online gambling sites are accepting different coins such as bitcoin , ethereum and many more and the player buy those coins to play to the gambling sites that are accepting crypto coins. I believ it is very helpful gambling sites to grow our market .

Cryptoccurencies is a great fit for gambling. But we have to think about which one is mutually beneficial to the other. You know that gambling and betting are not legal in some countries. Therefore, in these countries, people are directing to this market. But contributing is something different. To make a contribution, it is necessary not only to use it, but also to make it available to others. To contribute, it is necessary to work a little, to benefit.
Just think, what if everyone in the world tweeted just by writing #Bitcoin someday?

I don't have any idea on how big a gambling industry can contribute on the market but maybe I can say an approximate value on how many percent the gambling industry is contributing on the market and I think it is around 50%-60% in which there are so many people who is gambling everywhere and I think it is the main reason why it should be around on that high percentage because of the number of gamblers that are also contributing a lot of money and experience to the market and I can say that it is also a way of adoption because those gamblers are eventually will be able to adopt cryptocurrency as well.

Gambling industry contributes a lot to the cryptocurrency market.  Gambling Casinos were one of the pioneers that adopt cryptocurrency in their system.  Pretty much we can say that it is one of the foundations of the cryptocurrency industry ever since.

Those comments above asking what market did you mean that contributed to the gambling industry. Let us assume that you are talking about the crypto market. And that was definitely right, online gambling industry has a good impact on the crypto market price because it will generate Bitcoin transactions and other cryptocurrencies accepted. Nevertheless, the reason why there are too many gambling platforms keeps coming because they know that online gambling business is really good to generate profit.

It's a multi-billion dollar industry, probably the highest you just have to look on the president of the United States and how much he's worth, and his wealth is just a tip on the iceberg on the so many billionaires around the world, here in our country our government-run our casinos and they contributed a lot to our coffer and we are only talking about gambling casinos.

Well, that is countless if you will generalize all or the entire market. The fiat and the crypto usage of gambling were kept increasing until now.
It is really sure that this gambling sector was helping and contribute to the market to grow. In online gambling, this will boost the Bitcoin price and there are hundreds or thousands gamblers every day keep using Bitcoin. Indeed, the percentage that I estimating is about 30%.
As a matter of fact, online gamblings are more productive in generating profit than the offline casino.

Gambling industry around the world may be bigger than any other businesses that we know already plus you include the cryptocurrency based gambling—it's a multi-billion-dollar industry. I think having like a gambling casinos in your country will help to boost their economy as long as there are tourist visitors in your country.

Its indeed a big industry and we already saw it on traditional fiat gambling sites which do indeed help the economy of a certain country which do regulate or allow it
but there are places which do prohibits gambling but most or majority of them do allow it yet they do know the benefits on allowing these businesses when it comes to
taxation where we know that it do plays a big role on countries development and we know on how big do these companies or business do have shared on.Its a big
one and there are lots of gamblers throughout the globe.

How do you know it is about 60%? Do you have a certain way to count it? Personally, I don't know how many percentages. We need to take research or a little survey to know the valid number of percentages.

I'm not really sure that we have more gamblers currently. But it is clear that we have more gambling sites day after day. We can see it from the raising of gambling promotion in this forum. Anyway, I think we need a chart or special data related to gambling, so people will be easy to know the statistics.

For crypto gambling, I think it is hard to evaluate how much is the real figure as there are a lot of them that don't have license.
And also, are they really disclosing their actual earnings. It is easy not to give the real numbers if you are in online gambling.
Offline casinos have problem with that already, how much more in online gambling?
So I think no one can really determine the exact percentages here, but definitely online gambling is growing everyday.

Online Crypto gambling is the new gambling casinos, because it carters to everybody and they have a very wide reached compared to gambling casinos, and both have a huge market and a very huge revenues, it's one of the billion dollar industry that keeps making a profit day in day out.

It is difficult if we want to say about the percentage because we don't know for sure. But we can say that the gambling industry gives a big contribution to introduce cryptocurrency to people out there. We know that people like to playing gambling, and when they know the crypto gambling industry from many advertisements, they will be curious and want to know how to use cryptocurrency.

It is a trigger for the crypto to be known in public, and many people are trying to learn about crypto. I am sure after they know about gambling, they are curious about what the crypto can give to them, and that can attract them to learn deeper inside the crypto.

The gambling industry is evergreen and there are so many people who aspire to join this in order to have great money in a short time with little efforts. In those countries where it is legal, I believe it contributes to almost 40% to 50% to the economy. People shall join it but not with the greed for making large money in a short time.

I'm not sure at what percentages for this because there is no exact data to prove it but maybe it was approximately less than 50% but admitted or not online gambling industry indirectly has been introduce cryptocurrency to some people although their crypto assets only used for gambling but it slightly influence the entire market although not significant and not impossible someday for the people will change their habit from crypto gamblers became an crypto users or bag holders for crypto

In my opinion, it's the other way round. Since payout are been made in cryptocurrency and the gamblers most definitely will want to cashout to fiat which automatically means they'll have to sell their cryptocurrency in the market which affect the market in regards to price movement of coin. It means they (the gambling site) could be assume to have a negative effect on the market.

On the order hand if more gamblers are picking interest then they're definitely contributing positively. It all depends on how effective they're, since they provide a utility purpose for most cryptocurrency that ordinary won't have had any use except been tradable.

Not sure it's up to 60%, unless you are including cryptocurrency trading as part of gambling. The biggest contributors is most likely trading... lot of big money flow to that area. I believe when crypto is properly decentralized, lots of other things will add to the contribution. Contributions from typical/risky gambling would be less than others of things are handled properly within decentralized communities.

This wasn't surprising because almost all of the people are intersted in gambling, who doesn't want an instant profit in just betting? As we can see the projects that become successful in this forum are almost about gambling, this is because it has a big network of people that are interested to it unlike those campaigns about agriculture etc. With this we can conclude that gambling industry can bring a lot of people in the market resulting to mass adoption.

 contribution in what means ? there are many kinds of contribution like tax  , contribution for people to have an entertainment  and to have a profit , and many more  . so we should be specific for that  .

for the tax ,  i dont think that most online operated gambling sites have thier contribution but what im most aware is only the offline operated ones   .  the ones that those have permits and proper licenses   .  however i dont think that this contribute to the adoption    .

Contribution for the crypto industry and adaptation?
If it is about those two then for my guess about 30-40 percent.
Because other than trading and investment it is one of the biggest reason why people comes to crypto.

When bitcoin was still cheap, people are coming here to gamble and we've see before about dice sites becoming popular with huge bets of BTC.
It's a growing crypto industry I guess, that is compose different people with different interest and although there's no figure on how big the gambling industries contribution to crypto or vice versa, it can e assume that it's sure a big one.

It is difficult to tell what it is the contribution of the gambling industry to this market, I really think that at the beginning gambling was one of the reasons why bitcoin became popular since it allowed you to gamble without the need to go through KYC policies and you could gamble and withdraw your earnings almost immediately, however it is clear that since those times speculating with cryptocurrencies has taken the front seat and the gambling industry is not as influential as it was years ago.

I think the contribution of the gambling industry is more on the tax. I can't think a lot but the other one would be that gambling industry offers more jobs for people, you don't need degree to work at the casino. If we are talking about the whole gambling industry then these two that I mentioned would be applicable but I don't know much about the online gambling industry. I hope they too are paying taxes cause that helps a lot in order to keep the society functioning.

It must be really big enough to actually pay for all of that campaigns, I mean they do signature campaigns and competitions and other stuff and even have giveaways as well. So, I doubt it was actually that little to begin with. Even from the start when satoshidice was created there was a big number of gambling going on, after that it just got bigger and bigger.

Right now, only exchange business sector must be definitely higher but I doubt there is anything aside from exchanges that are bigger than gambling. These are strictly crypto related stuff basically, exchanges are for cryptos and gambling is basically making it discreet for everyone who doesn't live in a legal zone. So, basically it is the second biggest sector in all of crypto if you ask me but I do not have data that could back that up.

Actually I would say the gambling industry contributes close to 50% of the market distribution because there are massive giants in market now be it primedice for dice gambling or be it sportsbet that claims to accepts single bets of 100 btc which tells how massive the market has become now. I don't think there is any crypto market as big as gambling apart from maybe altcoins which contributes a lot too but in my opinion gambling market is just too massive!

I would love to have a total wager amount combined all currently running dice websites alone and it would be huge I guess. I wish there was some tool to know which section of crypto holds how much market share right now.

It's difficult to know what's the exact percentage and the reason you said is not a good basis.

That BTC100 is nothing when it comes to crypto exchanges. There is more circulation of BTC here compare to gambling.

And since we are here in the Gambling section, we might think that crypto-gambling is already big in the whole crypto industry without realizing that maybe it's just a 1/4 of the whole activity on crypto-exchange.

When it came to the tax, I think the tax will be applied to offline gambling because the owner needs to pay that tax. But if that is for the online gambling website, I don't know how the owner will pay that tax. The country which allows gambling will take a big tax for the gambling business so that revenue from the gambling industry can support the economy of the country too. But still, we don't know how big the percentage that the gambling industry contributes to one country because the government is not telling the public.

While its true that a lot of black market uses bitcoins and bitcoin has great popularity among hackers but that is just because a gun can be used for either cause - Safety and crime!

Not coming to the gambling topic, basically not just the market contribution but a lot of gamblers are actually introduced to bitcoins and crypto world because of these crypto casinos. I was discussing about gambling among friends and they told me that they don't gamble because of KYC issues and identity thefts. Once I tell them about crypto gambling that does not require any KYC most of them are now gambling with crypto and hence a large part of bitcoiners were earlier only introduced to bitcoins as a gambling currency.

Gambling industry indeed went through great revolution because of the invention of bitcoin and this is why there is increase in the number of online gamblers as compared to offline ones. I believe the demand of bitcoin will further increase because of this late global pandemic which has restricted people to homes.

Definitely it's gonna happen but please let us not expect that bitcoin will rise soon as major volume of bitcoin is still under control by the whales, they can manipulate the market that is why there is a pump and dump that is happening. Crypto really gives a major contribution on the growth of the online gambling world, as we can see, some fiat online casinos now are already accepting bitcoin.

Gambling affects greatly the entire market because of the participants in it that most probably supports the use of crypto currencies such as Bitcoin thus, impacts the movement of its supply fast and increases the demand for that certain coin; more demand means a greater standing for the coins available and is used by gamblers online.

When we talk about the physical casinos in the society, they contribute a lot in the income of a certain country from the taxes they get from the casinos.

This mostly refers to Dogecoin

Personally, I don't think that gambling is supporting the use of Bitcoin. The logic that I draw this conclusion on is really simple and straightforward. Bitcoin still massively dominates the crypto market, and if its prices were actually supported by gambling to any significant degree (which necessarily follows from your assumption), we wouldn't see so huge price swings as of recently. All in all, this basically proves that gambling cannot possibly affect the entire market, let alone greatly, as the whole market is still about Bitcoin, one and only

However, the situation is different with Dogecoin specifically. Indeed, if the whole market goes down the hill, Dogecoin dollar prices also go down. You wouldn't really expect it to be any other way, would you? But what many don't see with doges is the fact that their Bitcoin price is mostly negatively correlated with Bitcoin prices as such. That, on its own, tells us that Dogecoin is traded mostly for fiat, not Bitcoin, and there is solid evidence to think that it is people buying doges with gambling in mind who make this coin so special (read, gambling does greatly affect the doges market)

As the crypto online casinos are growing, here we can expect there will be a growth on the demand, we like to see it as that would only not help the online gambling world to grow but its contribution to the market is big since we are talking here for adoption, which people are not speculating on the price but truly use them as a tool to gamble online.


They have a physical casino its expected that they are paying taxes, while in online casino, we also have casinos that are licensed and in fact online gamblers are already aware of that and they choose those who have license over the non licensed casinos.

I don't have any idea how much percentage from the gambling industry because we don't know how many gambling places in every country. Maybe only the government that will see the number and they don't tell the public about the money. But maybe you can read on this article to find the percentage or to find how much money the contribution from the gambling industry.

https://www.statista.com/topics/1368/gambling/

https://www.tandfonline.com/doi/full/10.3109/16066359.2014.929118

But still, we don't know the right number if we don't research by ourselves.

Gambling is the platform which makes maximum use of crypto currencies and this is why I support the percentage you have assumed of gambling contributing to crypto market. Crypto currencies really help gamblers enjoy gambling without taking any stress regarding withdrawing their money in short time.

if you are talking about the entire gambling industry well its certainly bigger than what we have imagine , not only this give or pay lots of taxes but, the people that have a job because of it, because of it there are more people that has job , it help build bridges and help the government build and support the people well lets be honest the huge amount of taxes it give, help us a lot , and the government, that is why lots of government gives permit for them to operate.

I see a lot of gambling sites that still do not provide tax payments meaning there are no specific rules from the government to provide tax from gambling results, because I see it will make it difficult for gambling business people to cut taxes that must be paid to the government.

Indeed, gambling industry really give a huge chunk of money to the government as part of their taxes. And now that most of them are in shut down, I think the government will definitely feel the impact of their presence as I don't think they can give the same amount of money as they don't have operations. For some areas, the presence of these gambling establishments give life to them. Though we can't quantify their exact contribution but definitely they are big enough to influence their economy.

Behind the turnover funds in gambling, the money laundering is the biggest case, I believe. The cryptocurrency gambling industry is used for dirty purposes and the lack of regulation strengthens my argument.

No regulation, no KYC, no document for showing the source of funds. Bla,bla,bla. This is what it becomes after the police raids the location of the server and I have seen a similar situation with the mining companies.

maybe thats true because crypto gambling are mostly unregulated and didnt comply with the kyc   . i have see a couple of gamblers that said thier funds came from illegal like scamming   but there are some that are clean  . they earn the money in  a legal way  .

not totally you can say that money laundering is huge in the gambling industry  . in the contribution , gambling industry ofc contribute big because gambling is one of the biggest succesful business , whether crypto or non crypto 

Gambling sites shall pay taxes in order to boost the economy of the country. There are crisis going on right now and we all know that governments need money in order to fight this corona thing. Governments shall take notice of such sites and make tax inevitable for them.

If they do that, there's no contribution for it. But gambling industry as a whole, don't neglect that it contributes that much to this crypto industry. Remember that when no establishment and businesses that wants to accept bitcoin, the gambling community has been here and rocking while they're still doubting it. Now, the turn of the events and it might be gradual but they are starting to contribute and adopt bitcoin.

of course behind that much collected funds in a gambling wallet there are many goals that can be created, but negative goals are not always planned by gambling website developers because I'm sure they also have positive goals.

In my own opinion, I don't have any idea on how big is gambling industry does contribute, but I think it has a big contribute regarding in the industry as we all know that we are in the modern world that there are things are could be possible such as online gambling. Just for now the gambling world are so big enough you can play it physically or virtually. And I think as time goes by there are many inventions could really appear in the gambling world that will contribute in the industry.

There are a couple of reasons why gambling is considered an important part of the economy.

• It creates employment
• Government economy is boosted by taxing
• Form of entertainment
• People get to visit the casino resulting in the local market sales
• Leisure time

I think with just about this, and the critical part is the employment. A lot of people could benefit from it, and having a casino could provide that. Whether it's an online casino or not, it still allows people to earn money.

For players, it's essential not to get addicted to it so you could provide and have the proper priorities.

With the set up like physical casinos, this would create more job, but since the world is evolving and it seems like online gambling would become the trend in the future, I guess that would minimize the employment, and what I have understand on this thread is the crypto gambling industry is what we are talking here, so I believe crypto gambling industry will grow since it's budget friendly for people who can't afford to go into popular physical casinos and the adoption would just increase in the long run, and actually the situation now that casinos are lock down, this is the moment where more gamblers will shift into online.

Online gambling can create jobs too, I mean people also need good customer support, and good designers to keep coming up with new offerings not just in terms of technology but also in presentation and interface. Different aspects in online gambling, but still needs the expertise to perform them:)

From your list, the creation of employment was also my first pick. Not many understand how vital the gambling industry is to the government of a country. Although government can easily create money from thin air, still the taxes this gambling house pays are worth mentioning as they help to finance the budget of the government.

In regards to the employment, we see this casino providing opportunity for quite a number of individuals in various working class. From the cleaners, security officers, customer care officers up to the the managers etc all this individual gt an opportunity to join the workforce because of these casinos.

At least there are still more websites to work on from. Well, the question is how big is the gamblings industry contribution to the entire market. I think the OP should be more specific on that though.

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Check this out if you want to know more about the tax revenue from a casino. 86% freaking percent  :o

https://www.casino.org/news/macau-gaming-industry-responsible-for-86-percent-of-tax-revenue/

In my own personal opinion, the percentage pf gambling industry in the crypro market could be not that big because there are only few gamblers who deposits and invest huge amount of money in a crypto casino, that most gamblers only play in a crypto casino if they will receive a free money for them to play.

Tried reading articles about it's contributions and didn't get an exact numbers. But according to the things I've read, it's much popular right now. Probably we all know the reasons why. Online gambling industry, blockchain and crypto, is like the golden era of gambling. Aside from more payment options, quick withdrawals, anonymity of the gambler, blockchain addresses the security concerns of the gambler when it comes to online gambling, its much safer. There is also lesser operating costs, I think they are earning much profit without the big budget to operate a whole establishment of a casino. That's why lots of casinos are now rebuilding as online casinos.

We are all asking the same thing but I think it's contributions are enormous.