Gambling tokens, is it worth holding for a long period of time?

[MAAManda]

Image Source: I edited it myself (:

The crypto industry is increasingly developing these days with many of its own categories, of all of them, one that caught my attention, that's the Gambling category. This category has a market capitalization of around $300M, which is relatively small for the accumulation of all the tokens in the category.

As far as I can see from Coinmarketcap, there are only 2 categories under the gambling category (based on MC), namely Fan Token & Move to Earn, which indicates the Gambling category is the bottom 3 category. Some big names are there, such as Rollbit Coin (RLB), Shuffle (SHFL), FUNToken (FUN) & BFG Token (BFG).

Discussing this, I remember a bitter experience, because I was a participant in the Rollbit campaign, of course I followed all the developments there, including the launch of $RLB, at that time this token was still on the DEX (Raydium IIRC) at a price of $0.00123. Intended to buy a big bag, but then I forgot to do it until the hype happened on the $RLB token .

Ok, let's get straight to the final question, taking everything into consideration:

1. Do you think it's worth buying & holding gambling tokens for a long period of time?
2. If it's not worth, what's the reason?

[AbuBhakar]

Image Source: I edited it myself

1. Do you think it's worth buying & holding gambling tokens for a long period of time?
2. If it's not worth, what's the reason?

With the current tokenomics of gambling token which is use as rewards token makes investment to this token not really worth-it long term since the circulating supply is continuously increasing which means the price will decrease in the long run.

They offer staking but the rewards is still on gambling token which means same problem for the bloating circulating supply.

FUN token has a chance to become a very good investment since they offer free spin aside from the passive rewards but we all know what’s happening to them right which they didn’t give rewards anymore so in the long run this is one of the problem.

[mu_enrico]

I've been pretty interested in these tokens for quite a long time.
I thought I'd buy when we are in the bear market, but there's been no bear market for a few years lol. Covid crash is an exception since I was broke as well
So yeah I'm still waiting for the bottom to bag these coins.

[bettercrypto]

The crypto industry is increasingly developing these days with many of its own categories, of all of them, one that caught my attention, that's the Gambling category. This category has a market capitalization of around $300M, which is relatively small for the accumulation of all the tokens in the category.

As far as I can see from Coinmarketcap, there are only 2 categories under the gambling category (based on MC), namely Fan Token & Move to Earn, which indicates the Gambling category is the bottom 3 category. Some big names are there, such as Rollbit Coin (RLB), Shuffle (SHFL), FUNToken (FUN) & BFG Token (BFG).

Discussing this, I remember a bitter experience, because I was a participant in the Rollbit campaign, of course I followed all the developments there, including the launch of $RLB, at that time this token was still on the DEX (Raydium IIRC) at a price of $0.00123. Intended to buy a big bag, but then I forgot to do it until the hype happened on the $RLB token .

Ok, let's get straight to the final question, taking everything into consideration:

1. Do you think it's worth buying & holding gambling tokens for a long period of time?
2. If it's not worth, what's the reason?

Maybe it really depends on the individual and you, because if you believe that, you will buy and keep buying it no matter what other people or your friends in other communities
say here for a long time.

Because I was the only one who witnessed the price rise that almost closed to 1$, that is the BFG, I saw how it rallied in the market before that time,
that was also the bull run.

[coin-investor]

Ok, let's get straight to the final question, taking everything into consideration:

1. Do you think it's worth buying & holding gambling tokens for a long period of time?
2. If it's not worth, what's the reason?

Based on my experience on BFG, yes, I was a participant in their first signature campaign in their ICO, I can't recall the number of weeks, but I was on it since day one and finished the campaign after the ICO, Although it took several months to distribute the rewards, I got a substantial amount. I used the token to stake it on their platform. by staking, I got BFG with an option to receive my staking rewards to other coins or tokens like BTC, Eth, and BNB.
I was doing great. I received $3 to $4 worth of coins and tokens daily. It could have been my residual income for many months and years to come until I got greedy and used my BFG to play Dice. To make the story short, I lost all my BFG, but just imagine if I am still staking those BFG and compounding it. BFG is one of the top casinos now, and their token is still worth holding and staking.

[MAAManda]

With the current tokenomics of gambling token which is use as rewards token makes investment to this token not really worth-it long term since the circulating supply is continuously increasing which means the price will decrease in the long run.

They offer staking but the rewards is still on gambling token which means same problem for the bloating circulating supply.

Some of them have a burning mechanism, isn't that a way to create scarcity of the tokens themselves?

Then, we are talking about the long term here, those tokens even though they have a high supply, eventually it will reach its limit (just like $BTC), so there really isn't a problem.

So yeah I'm still waiting for the bottom to bag these coins.

These or this? (kidding). I'm curious, do you really want to buy some, I think you're only interested in one of the tokens in the picture that has a yellow theme .

To make the story short, I lost all my BFG, but just imagine if I am still staking those BFG and compounding it. BFG is one of the top casinos now, and their token is still worth holding and staking.

Ok, +1 because you have similar experiences to me. Regret missing it all because I would have been a millionaire by now if I had bought $RLB when they were only available on DEX (Raydium) with small MC.

[cabron]

Like every other altcoin it's still risky. Online casinos ar regulated and then casino tokens are to be regulated which up to this day it's still not regulated. This could be the reason why there is not much action in these tokens, more and not even listed on large exchanges. There are others that OP have not listed but they are all the same. They have been up and running for awhile already but nothing so far had risen to a good price.

[shawonngp]

Gambling token can not getting popular in the crypto communities, it could be lack of their advertisement and not listed for big exchanges, i have seen most of gambling coins listed on DEX's, i think they have no interest to list CEX's. I am holding MBET(MoonBet) a casino platform native coin, in the few months holding it's delisted from exchange, it's disappointing to me.

[EarnOnVictor]

1. Do you think it's worth buying & holding gambling tokens for a long period of time?

No, my friend, it's not worth it, not only the gambling tokens but all altcoins, hold them beyond 2 years in the bullish season and regret your action. Altcoins are so aggressive and risky, they can make you rich so fast just as they can make you poor so fast, so the bet is to carefully study them and buy when the bearish season is almost over or when the bullish season just started. By this, some may even bless you between 5x and 20x easily.

[sunsilk]

1. Do you think it's worth buying & holding gambling tokens for a long period of time?

Yeah, I think so. If you're an actual player of that casino that has their own native token, it's worth it because aside from the dividends. You'll also get those perks and benefits that they're distributing to the holders.

So, it should be decided on how much and how you look forward not only to the development of the token but also the casino itself. Since these crypto casinos are in there for the long term, so why not ride with them?

I remember the glory days of the casino bankroll investments idea and they're profitable in the past. But, do always remember to invest only what you can afford to lose.

[bitgolden]

I can't talk about the long term, because nothing outside of Bitcoin would be a good investment advice for long term if you ask me, I can do it personally but wouldn't talk about it public. However, this also depends on the coin/tokens features and what kind of person you are. If you can have a gambling token, and that gives you benefit while gambling and you gamble a lot, then you are not going to really benefit from it neither, makes no sense at all to me.

I understand things may change on the long term, but the best way to move forward is to just keep trying your best whenever you can, it will definitely handle the result as a good thing for all of us, and we shouldn't really be worried about it.

[mu_enrico]

These or this? (kidding). I'm curious, do you really want to buy some, I think you're only interested in one of the tokens in the picture that has a yellow theme .

Hypothetically, if now is the bottom or end of the bear market, meaning everything is cheap. I'd bag $RLB & $BFG since I'm pretty familiar with it. $SHFL maybe if I still have enough money to spend...

Just like @EarnOnVictor said, the best time to bag these coins is at a massive discount, i.e., bottom.

[Thewatchman]

I was surprised to see Rollbit moving upward to the first top 100 coins on coingecko with over 1000+ % increase in, the market was massive until I thought the same thing OP is suggesting.

If I would consider bagging some gambling tokens, then will go for $RBL and $BFG. What makes me consider gambling tokens is that, the increase in demand will be effective on the gambling sites, as it would be used for so many purposes. For staking, for free spinning, for deposit bonuses, and more.

Another thing moving me slightly to getting these tokens are that, these two gambling companies are the official partners of some other popular English and Spanish clubs. These alone will make a difference in the token price.

[dunfida]

1. Do you think it's worth buying & holding gambling tokens for a long period of time?
NO! and maybe

2. If it's not worth, what's the reason?
We do know that gambling token is really just that solely be used on the platform alone on which means that its value will definitely be basing up
or in according into its users but usually these tokens are being rewarded or could be obtained through wagering.

We've seen some gambling tokens from known casinos on which most of them are really that going its value into the floor.
There are some other tokens that turned out to be able to hold up their value but majority of them are really that now in low price.
So it will be that up to you whether you do hold or not, not unless if you are loyal into the casino and wanting to hold up their tokens.

[el kaka22]

The utility that they are providing is usually not enough to make the token really worth anything. This is the problem with gambling tokens, and to be fair they never really wanted it to grow neither. Casinos are casinos, they already print money, thanks to house edge, they make money one way or another, even if one gambler wins something today, another one loses, and the winner loses another day, so they make money all the time, the more gamblers they get, the more money they make.

However, if we are talking about tokens? They sold it, and made money from it, but they have no incentive to make it go up, so they do not really give it any thought about it and not really trying to make it grow any further than it could be.