Bitcoin Forum

Since the introduction of crypto gamble related projects the major news has been the advantage it has over the traditional gamble companies we have. I started this topics so you can air your views on some inconveniences you experience with gambling with cryptocurrency on crypto gamble platforms. You don't have to mention the companies/project name, just state the inconveniences you experience or have seen and if you have some idea on possible solution, that's will be great too.

This thread might be of help to crypto gamble companies so they can work on those inconveniences and make your experience in gambling with cryptocurrency more fun and enjoyable.

Edited: When I say inconveniences, I mean wickedness or undesirable situations you face when gambling with crypto related projects/companies.

The word disadvantage is confusing many users so I changed it to inconveniences for better discussion.

Disadvantage? Its simple.

Getting gambling addiction
You would lose money

Theres no other than that.

I think he means issues or complaints against existing businesses.

From what I've seen, it's always KYC for sportsbooks. Dice and casinos usually don't have those requirements. I don't understand why bookmakers insist so much on KYC, I figure it's just a bad business practice that needs to fade away.

I would say it is anonymity that can be the biggest downside to online gabling.
Of course it is the house being anonymous is what's worrying me. No need for one to be an expert to notice that such thing can result in excessively fraudulent behaviour of a casino that has the option to vanish in to thin air.
Smaller hoaxes, not visible to the naked eye can also be in existence, because of little to none threat of consequences.
Should be better to gamble on platforms that have known owners, preferably with a license and well established player base.   

If thats the case then you do better stick on fiat gambling online sites. You can verified the operators but doesnt guarantee you a 100% for them not to ran away with the money but somehow
you do have still the chance to fight on legal aspect. Anonymity on users side is one of the biggest advantage on where most people do prefer.I agree on the thing mentioned above about KYC thingy
with bookmakers but we wont have any choice but to deal with it.

Disadvantage about crypto related gamble projects? a lot. But let me give some of what I experienced here about gambling:

1. You can start gambling whenever you are as long as you have funds and VPN (Used in some country)
2. There's a lot of choices to spend your money like (Dice game, Live sports, Virtual sports, Poker, roulette and other casino games) in other words there's a lot of deceiving games to spend your money.
3. Once you won one time you still want more and in the end you don't have anything (Greed).
4. Accessible through mobile phones in my experience i do gambling anywhere as long as I have funds and access to internet.

To summarize all of this the best word to describe this is the word: ADDICTION

Gambling is not bad it becomes bad if you do gambling without control after all it's the person whether the gambling will be good for him or bad.

Gambling sites have issues of givig back the rewards if they have won a big amount so which make the question among the gamblers how much they were trusted but on the other hand it is more advantageous than fiat gambling sites.

1. I do see most gamblers are not satisfied with transparency of gambling houses hence a better system than "provably fair" may convince them at some levels.

2. More P2P games. I am well aware of practical limitations of P2P environment. Still, I do see many gamblers are demanding it compared to playing against house.

3. Quick and effective customer support. Even tier-1 houses are now a days replying, waiting for "higher people" to conclude.

4. Well defined TOS. No case to case rules.

5. Enhanced mobile gambling experiences. Gambling on the go is biggest demand for many people here.

I remember seeing complaints about couple of gambling sites modifying terms of contests to reduce the amount won by users or to revoke it.
I do not remember seeing gambling sites closing and running with users cash unlike exchanges.
Addiction and KYC are the most negative points in those projects.

not sure why people posting KYC as a disadvantage for crypto gambling

some crypto sites might ask for KYC sometimes , while when it comes to fiat betting literally all the sites I know won't allow you to withdraw unless you apply to their KYC

for me the negative side is the price movements , basically crypto gamblers are taking another gamble when they are betting with crypto
but it's fine I guess since I have no other option

There's really very few disadvantages for crypto gambling for me personally. I guess volatility can be a problem for some, but my main goal's just to increase my stack of BTC so it's really not a big problem for me in the long run.

Some sites are also indeed fishy and do things that are questionable to say the least, but that's to be expected when most crypto casinos advertise anonymity and are rather anonymous themselves.

I really don't care about mobile access with most casino sites. My phone's pretty crappy and lags even when opening Chrome, but for those with better phones mobile access can be important. I also feel some sites should offer optimized mobile sites in addition to just having a mobile site, as I've noticed some sites on mobile devices lag more than others for whatever reason.

Nice things, a new gambling house may take note of these. But, I feel OP is asking about disadvantages of crypto related gambling project. For that simple answer is losses and addictions but I wonder what a gambling house will do on that. Hence, I guess OP must need to edit the subject-line to something which will be appropriate for improving a gambling house.

@OP
I understand you are misusing the term "disadvantage" instead of "inconveniences" or "uncomfortable". If you edit both open-post and subject-line accordingly, I guess this topic may bring more useful things to this community and to crypto-gambling industry too.

I agree. Due to this reason many people have already denoted about gambling addictions but obviously a house has nothing to with the consequences of gambling for a gambler. They are doing a business with gambling and if we ask them to do something against gambling then they may need to restrict the chances for gambling but I am sure that no houses will be preferring that as it will lead to impact on their business progress. So, we cannot expect a house to work against the disadvantages of gambling but they will work on enhancing our experiences. Hence, we must point out related to enhancing our gambling experiences.

There are two things I consider as disadvantages experiences I have with crypto related stuff.

First thing is that, as we can see that BTC is going down the funds I had dropped off and it hurts me big time. Well yes, sometimes being a volatile cryptocurrency is both advantage and disadvantage but these days I am actually experiencing big losses from crypto.

The second one will be the acceptance of my country in cryptocurrency.
The country I am living in today wants to regulate cryptocurrency and they see a big threat that would affect our economic growth and that is the reason why they are trying to limit the uses of cryptocurrency and acceptance of it.

Those are the two disadvantages I have experienced in crypto related stuff.

I agree addiction will only gives you the loss and it will not be controlled by anyone without getting addicted so it will be a disadvantage in gambling.

When last will came to the project that we are gambling will definitely give the inconvenience and being addicted also been giving you the last only so be careful when camping and make your limitation properly and don't enter into gambling without preplan.

I think I don't have inconveniences in gambling because so far, I feel that I can enjoy the games. But the problem that I might think is when we can win the money and wants to withdraw, we might get a problem, for example, we need to send document before we can receive the money. The other problem people can get they get scam by the gambling websites because they win so much money without any chance to withdraw that money.

I'm not that much into gambling but also bets for some NBA games and some dice when I got some extra funds, the idea of using crypto for gambling activities was so helpful, as we can easily play without a lots of registrations and providing documents as many fiat based casinos needs before allowing
you to play, the only downside, each time you based your funds into fiat and convert it into crypto chances to lose its value is always behind you, so when you win and the value of crypto falls surely it will be felt after withdrawing and converting it into fiat.

Some delayed from withdrawal of your funds also ends up the same when crypto value falls.

I do feel gambling houses must work on reducing their house-edge, so that gambling will be more profitable and excitement filled for all the gamblers. I'm not seeing any possibilities for houses to be working on this still if they are ready to loss some parts of their profits then that will be very good thing for this community.

After house edge, I believe houses must work on improving their customer support area which is the biggest concern for many gamblers here.

I think that many companies have quite a big rollover requirement for bonuses. That makes it quite hard to make any money with the bonuses they pay out. Finding one that doesn't have the usual big rollover requirement has been hard for me.   

But, even with high wagering limits like 40x, some gamblers are able tomanage successfully (https://bitcointalk.org/index.php?topic=774929.msg49606190#msg49606190) toward cashing out. So, I am not thinking it will be possible for houses to reduce the rollover requirements. If they go for anything similar to that, that might be very much similar to suicidal. Instead of providing bonuses with easy wagering conditions, they may go for raining out cash prices directly ;D.

Gambling is still a business for houses hence we cannot ask any improvements which may impacting to their core business levels.

P2P gambling games are the future of gambling.I think that all those online casinos (crypto or fiat) will fade away,so it's pointless to discuss their inconveniences or disadvantages.
A well developed peer-to-peer gambling platform won't need customer support and "probably fair" terms of service.

In sometimes the things that we are doing is only going to the wrong direction especially getting addicted and making more losses and choosing the camp website for investment so these type of inconvenience will definitely happen here.

I am also loving p2p games but most gambling houses are not at all supporting them.
I agree p2p games will be the future of crypto based gambling industry as decentralized gambling platforms are getting popular now a days and for decentralized environments, p2p games are the only feasible games to have.

Yes, that is the reason sports betting are not needing any cross-check as sports betting are modified version of p2p environment through odds. Still, customer support is always needed as we cannot be sure when a payment get struck or when a user may lose his credentials to access their accounts.

I have never experienced any inconvenience with crypto gambling.  The gambling industries are really getting encouragement from blockchain technology and I believe many of them are expanding all over the world because of cryptocurrencies. 

be gambling addicted, maybe sometimes not be able to place a bet because the deposit had not been completely arrived/credited (sluggish blockchain / number of confirmations)

Gambling on the whole has been a wide market which brings in billions of money per year across the world. People tend to lose and win all over the year, but there is an increasing adoption of iGaming throughout the Gambling sectors. iGaming in the sense, they are similar to gambling but are regulated by the laws and the integration of network along with gambling has brought in a lot of interest. Nowadays, the crypto projects based on iGaming is increasing at a faster rate. I do believe trust was one common factor which prevented gamblers from using iGaming from the manual gambling.

The neighbouring countries of Europe and Asia seems to be dominating the gambling market with the primary interest of them being sports betting and online poker games. Currently the gambling sector has a strong market of around $50 billion which is quite big. But these market are based on manual gambling and very little is contributed through the iGaming sector. But with the growth of blockchain technology trusting a third party is completely eliminated and this brings in a lot of hope among the gamblers to use the iGaming sector.

[1] Coming to the crypto related projects, the primary disadvantage related to using cryptocurrency in gambling is it's volatility.

[2] Secondly, commissions. Cryptocoins are highly volatile which leads to these commissions getting very high or very low.

[3] Smart Contract failures too play a major role in the failure of a gambling project. Bad code and a badly written smart contract code will make you lose millions of dollars.

[4] Jurisdiction : Cryptocurrency is still being seen as a illegal tender in various countries around the world. In these countries, gambling with cryptocoins would probably be banned.

Wish the question was "advantages and disadvantages of Decentralized gambling platform over the centralized gambling."
I expect people to use the decentralized ones for obvious reasons but it seems no one cares too much.

No we already know the answers beside you don't ask such question in a forum filled with users wearing signatures of decentralize gamble platform the answers will just be one sided you ask such question in open fields to get better result. The topic started as what are the disadvantage your experience with crypto  related gamble platform but some people weren't understanding me so i have to change it to inconvenience so everyone will understand. So far, im seeing some interesting replies.

That is not the problem of gambling site but thats your problem because you put a small fee after you send your coin to the sites receiving adress . although there are gambling sites that promise instant deposits  . how can they possibly fasten up the recieving process ? When you are the ones that sends and put fees .  strange isnt it .

Well that's one of the common problems but yeah, if you want faster transactions you have  to shell out a bit more. Though nowadays it doesn't really take thatong even for regular transfers. I'm used to playing in betcoin.ag even before and i'm not promoting but there hasn't been any inconvenient issues for me.

I believe people will understand the benefits of having a decentralized system very slowly. Moreover, gamblers are known for sticking with what they actually got practice to. So, we cannot expect them to switch over in quick time but I believe they will definitely move over to where they will be having the most comfortable and convenient environment.

We are seeing the success of decentralized exchanges but centralized exchanges are still persisting on its own way to find success. Similarly I believe both centralized and decentralized way of gambling will be finding its their own ways to entertain all of us.

Will this new evaluation of gambling industry will eliminate all the inconveniences and discomforts we are facing with manual sites ? I guess only time will answer. We cannot ignore the benefits of having new innovative systems. I believe even these new way of gambling will not satisfy all the gamblers in 100% way at least all the gamblers may experience some better environment for sure.

Smart contract based dapps are seeming very much promising in this regard but I guess like how we are having centralized and decentralized exchanges, similarly we may have both these two types of houses also in the near future.

If that is the problem, then you need to find another gambling website which is not taking too long to receive the deposit. Yes, being a gambling-addicted is the most problem that we might get in the gambling, so we need to take serious attention to that. As long as we can prevent ourselves to stay too long in the gambling site and we can control ourselves, I think we are safe from the addicting.

The only inconvenience I ever experience is when transactions take long to be added to your account.
I play on a website that adds transactions after 1 confirmation, but that can sometimes take longer than 15 minutes when using Bitcoin.

This isn't the fault of the gambling website, but rather something inherent to Bitcoin transaction speeds.
This should be solved when more website implement lightning network payments though.

most people certainly complain about the huge costs incurred when making withdrawals and also the process that takes a long time because of the large number of queues when people make withdrawals on their wallets. other than that, there are some online gambling sites that have a large enough load so that it's very difficult for users to access using their cellphones

Since i am into sports gambling every now and then at the moment if some matches interests me, i would wage when ever i feel like, the main issue i find with sports gambling sites in the crypto space is that there are not much options available to wage a bet and the odds will be lower than fiat based online gambling sites, so i switch between the two depending on the odds available, if there is a minor difference i really do not mind, sometimes there will be a variable difference in the odds, other than that i find the sports books available in the crypto market are decent and now some are accepting more coins which is a positive thing. I miss directbet and there is no other site to replace that, no registration needed and you could wage with more than one coins three years back and they closed their doors because of the high transaction fees at that time.

Your favorite gambling house is not having in-house exchange facility ? At the same time, I do see many gamblers are facing this issue even the sites are having exchange features, they are not getting eligible levels to avail those features.

With in-house exchange facility, I am able to convert my altcoins into bitcoins. Some times back , I was playing with altcoins itself and I finding somewhat boring to gamble with low value coins then I decided to stick back with bitcoins and to solve the hassles of slow loading, I use altcoins for faster confirmation and then gambling with higher value bitcoins.

I experience before the delay on my deposit, and I don’t able to gamble that time because of that. Though its tolerable but I hope for a more convenient way to deposit funds. Over all,  my crypto gambling experience is so nice, and I’m really having fun with it.

So far none because I always make sure that I’m playing with a great site, easy to deposit and withdraw money that’s the best part of a gambling site i think aside from their games. My only inconvenience is that, how to convert fiat money easily, well its not related to gambling anyway.

Years back when I began to gamble using cryptocurrency I need to be in a place using the desktop or the laptop to gamble. By that time I've tried accessing several gambling websites through mobile, but that wasn't perfect. Now things have changed and majority of the websites can be accessed through mobile phones. Apart from that I haven't encountered any issues as I go with trusted gambling sites.

And I think that the credit goes to blochchian and bitcoin which make it possible for gambling throughout the world to become integrated. No doubt that in previous days it was difficult to play gambling because of exchanges of currencies not now bitcoin make it more easy to visit any gambling site throughout the world and play gambling there without converting your currency into any other currency.

The only ones I can think of are many complaints about slow transactions, addiction problems and delays in withdrawal from successful bets.
There are available solutions for most of the problems on alternative gambling websites

The main advantage and the disadvantage in gambling is being addicted it will also been the good for the development of gambling and not good for The Gambler so we cannot get out from this when you are getting addicted I think it will be the most inconvenience experience for anyone to be a gambler.