Bitcoin Crosses $100k. Are Online Crypto Casinos as excited as we are?

[Strongkored]

Bitcoin crosses $100k . There's a lot of excitement in the community. I have counted at least more than 4 topics related to this trending news on the forum. And they all end with questions for the readers. This topic is no different but it is related to casinos. Is this new price a plus for the casinos? Do you think they are excited about this, like it will lead to some kind of growth for them or they are indifferent to it because nothing changes, just business as usual?

Casinos probably have assets in the form of crypto as a reserve, so their assets increase if converted to fiat, but of course they will not risk themselves by selling because it is an asset that must be maintained for the long term, so I think casinos are not traders who will be very excited about the price increase because for them it is about how their users continue to play so that their casinos continue to generate profits so that they grow rapidly.

[alegotardo]

Bitcoin crosses $100k . There's a lot of excitement in the community. I have counted at least more than 4 topics related to this trending news on the forum. And they all end with questions for the readers. This topic is no different but it is related to casinos. Is this new price a plus for the casinos? Do you think they are excited about this, like it will lead to some kind of growth for them or they are indifferent to it because nothing changes, just business as usual?

As for online cryptocurrency bookmakers, they are likely to be eager to see how this Bitcoin appreciation will affect their business. In theory, an increase in the value of Bitcoin could lead to an increase in the number of bets and transaction volumes, which could be beneficial for bookmakers.

However, it is important to note that online cryptocurrency bookmakers are already used to dealing with the volatility of the cryptocurrency market and likely have mechanisms in place to manage the risks associated with fluctuations in the value of Bitcoin. Therefore, it is possible that they are more focused on taking advantage of the growth opportunities that this appreciation brings, rather than worrying about the potential challenges.

In summary, I believe that online cryptocurrency bookmakers are indeed excited about the appreciation of Bitcoin and see it as an opportunity to grow and attract more customers. However, it is important to remember that the cryptocurrency market is highly volatile and unpredictable, and bookmakers need to be prepared to deal with any eventuality.

[Oluwa-btc]

I don't think that the rising price of Bitcoin will have a direct effect on casino operations. But indirectly it could potentially bring new customers to the casino if the casino uses the Bitcoin trend to their advantage by marketing their casino platform as Bitcoin friendly

I believe there's much excitement especially to those holding Bitcoin and then to the casino I think it's just like the daily business but an increasingly rate this time around and i think the effect it'll sure have is having more people in the crypto community cause in the casino it would seem like a little added advantage you know but the rising price would easily indulge more people to see the brighter sides of Bitcoin.

[Cityhunter34]

Normally the rising price of Bitcoin would bring more customers to casinos. Because as a gambler that also invest in Bitcoin whenever you make a huge profits from your Bitcoin investment you would be very excited about it. And that can make you increase your gambling budget while because you were not expecting that price at that moment, so you would be happy to use some of it in gambling. However, as a casino owners that also invest in Bitcoin, they will be much excited whenever Bitcoin crosses $100k and above, because they knows that it'll make them to have more customers.

[LUCKMCFLY]

That not a win-win situation for every casino. I believe most casino employees still receive salaries in fiat and do bookkeeping in fiat. For example Duelbits casino display balance in coins. You have deposited 1 BTC, on January 6 you would have ~101-102k coins. If the price of Bitcoin goes down, you would still have ~101-102k which is a win for you and loss for them, but if it goes up, its opposite. So gamblers should be cautious about crypto prices and where they hold them. In a situation, when prices goes down and they pay you more, their profits decrease. Also the more price go up, the more people wish to withdraw to fiat and spend. This means clients decrease.

Yes, you are right, things in casinos are like that, I know Duelbits has always had that policy, of course we as players should know where we have the money to risk and in what currency it is, for me everything in casinos as clients we should do it with money in USDT, fiat, everything, therefore when we are in this time where BTC will probably continue to rise, we should intelligently have our money in something other than BTC, if it is BTC then have it in our wallets, it is only safer.

[AmoreJaz]

Normally the rising price of Bitcoin would bring more customers to casinos. Because as a gambler that also invest in Bitcoin whenever you make a huge profits from your Bitcoin investment you would be very excited about it. And that can make you increase your gambling budget while because you were not expecting that price at that moment, so you would be happy to use some of it in gambling. However, as a casino owners that also invest in Bitcoin, they will be much excited whenever Bitcoin crosses $100k and above, because they knows that it'll make them to have more customers.

Let us put it this way, gamblers will always gamble no matter what the price of btc is in the market. Also, with the rising price of btc, the sentiments surrounding the market is positive. Hence, it can further motivate them to play and get those winnings. Also, do take note that crypto enthusiasts are increasing and so the crypto gamblers. It is like, fiat gamblers will always gamble no matter what the dollar is. And so with btc. You can't stop a gambler because the price of btc is low or high.

[shasan]

Now the situation change so that gives us a chance to cash out and celebrate our profit. Maybe the casino doing the same thing like us which I am sure they have many Bitcoins as their profits. But the casino will allow the withdrawal support anytime whether Bitcoin price increase or decrease because that is the right for gamblers to get their Bitcoin. If casino can not provide this, that will be suspicious because that is the gamblers money and casino should let gamblers withdraw their money.

I think they will not cash out their sum as they have the funds of their users too and the users will play from their funds. But if they (users) cashout their funds then the gambling site may cashout but it will not be higher than the proportion of the user's fund as they must have to maintain their business for certain losses (win by the users).

[Accardo]

Casinos probably have assets in the form of crypto as a reserve, so their assets increase if converted to fiat, but of course they will not risk themselves by selling because it is an asset that must be maintained for the long term, so I think casinos are not traders who will be very excited about the price increase because for them it is about how their users continue to play so that their casinos continue to generate profits so that they grow rapidly.

Casinos transact lots of money that the increase in BTC won't be more of a surprising event. This isn't the first bull run for most crypto casinos. Yet, businesses with large possession of Bitcoin celebrates the massive increase in profits. Making profits is fun regardless of how big or little.