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Author Topic: Running a casino during crypto crash  (Read 7218 times)
TimeTeller
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January 06, 2023, 09:57:14 PM
 #221

Opening or managing a casino is always lucrative. I don't think a crypto collapse will have much of an impact on that. People are always gambling. You do have to have a certain policy if people play in a certain currency, if it goes the other way, like a sharp increase, then I wouldn't cash out all BTC and other crypto to your bank account. You can then become a thief of your own wallet because the price for players has suddenly become a lot more favorable. A crash is always short-lived, as we have seen in the past. There will always be a time of recovery for the crypto, and that will also encourage players to gamble more. Players aren't as likely to worry about temporary crashes when gambling.

As we have seen, people gamble no matter what the market situation is.
BTC price goes up and down, and yet, people still gamble their money.
They may reduce their spending habits, but they will always play.
This is why, casinos and other gambling sites survived during the pandemic period and other crises.
Offline casinos may be closed, but online casinos will always be open 24/7 without interruption.
It now depends on the casino owners how they will tackle different scenarios and offer rewards or bonus in every bottleneck they will encounter with.
Fatunad
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January 06, 2023, 09:58:32 PM
 #222

Hello guys, as an attempt to protect new or old users on this forum , I think its mandatory for gambling sites to show proof of money they are holding in reserves  . Unless casinos converts all deposits to a stablecoin , excluding UST hahahah , from year to date most of them should be running on a loss as most utilized crypto coins are down by atleast 65% and that includes Bitcoin .

There will be more and more accusations  created to existing and also new casinos.

 Goodluck,Be safe and smart out there!!
I don’t think gambling sites will consider it as a must to show proof to the people on how much their own site has left money to operate. They will consider it as their own privacy. The only proof that they can show to the people is that if they are still giving payouts without delay and still making more promotions and bonuses that makes the gamblers more interested to play, that means the gambling site is still capable to manage their own casino business.
Its a private part or something that shouldnt be show off publicly or easily considering that if someone would be finding out on how much they do own then hackers and possible exploiters would really be trying out
their best on making up some holes or something like that or in overall security risk and hazard. Thing here is that if you do saw that there are lots of users who do hang out with a certain platform
then it would really be that common sense that you would really be seeing or presume that they are really making such huge revenue and something results that they could withstood any economic
downturns or bad situations.
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