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Author Topic: Will halving affect gambling sites ?  (Read 1446 times)
trafficolaa
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June 30, 2016, 04:32:47 PM
 #41

Actually halving would not impact on gambling sites because people don't care about the prices, casinos making very good profit and bitcoin is getting more popular payment processor for gambling so that i am quite it is not important for any gambling and all casino will remain online and running their business after halving too.
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June 30, 2016, 05:11:21 PM
 #42

My understanding is straight that first of all halving will not increase price of bitcoin more than 800-900$ per BTC.Halving just make us sure that mining will be profitable if price remains above 385 $.I do not exclude another pump but this will not affect gambling business.People will keep playing continuously.
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June 30, 2016, 05:36:15 PM
 #43

A few interesting replies here.

In my opinion, I believe the time leading up to and shortly after the halving will result in less gambling during this period. 

I think that there will be a few gamblers that might want to see how the halving plays out and may opt to have their bitcoin accessible if the price rises to an amount that they think is over valued. 

On the other hand, the halving itself may bring new exposure to bitcoin and attract new players as gambling with bitcoin is much easier and faster than conventional gambling with real currencies. 

All in all, I think the halving will definitely have some type of effect on gambling sites.  As to how exactly is anyone's educated guess.
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June 30, 2016, 05:40:07 PM
 #44

How will bitcoin price after halving affect gambling websites that offer 2X and also 3X returns ? will they also turn into a scam ? what is your opinion ?
I am not seeing any effect to bitcoin only gambling sites as they don't deal with fiat so all the profits and loss they have to handle is in only terms of bitcoin. I will say if price get up after halving than whatever they used to earn per day will be increased in terms of fiat making them more stronger.

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aranachristianjay
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June 30, 2016, 05:47:29 PM
 #45

How will bitcoin price after halving affect gambling websites that offer 2X and also 3X returns ? will they also turn into a scam ? what is your opinion ?

Actually price will commonly go up after halving,

So I think if the site or gambling site is not that legit or still have it's maker anonymous, then there are still a high chance that it will turn to be a scam, but for those sites who are reputable ow, then I think they will endure the upcoming halving, and will develop a plan to regain their losses if ever they lose more than what they should have.
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June 30, 2016, 05:50:31 PM
 #46

How will bitcoin price after halving affect gambling websites that offer 2X and also 3X returns ? will they also turn into a scam ? what is your opinion ?

There will be less bitcoin coming into the market, the prices will rise and the betting sites should be fine. If the price doesn't rise its not so good but then thats always been the case with bitcoin.
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June 30, 2016, 05:57:09 PM
 #47

How will bitcoin price after halving affect gambling websites that offer 2X and also 3X returns ? will they also turn into a scam ? what is your opinion ?

There will be less bitcoin coming into the market, the prices will rise and the betting sites should be fine. If the price doesn't rise its not so good but then thats always been the case with bitcoin.
yeah betting site or gambling site are fine they are not relaying in the price of bitcoin but if you are newbie about bitcoin i think you will still relay  in the price of bitcoin before you gamble..

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June 30, 2016, 06:09:35 PM
 #48

I guess not, people who gamble may not be too concerned about that, the better they are having fun, but when it successfully won many bitcoin, it probably would be a bonus. Well that's what I feel

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June 30, 2016, 06:15:38 PM
 #49

I do not think it will effect them...i see no conncection of halving with gambling sites...there are users deposit and withdraw bitcoins..they dont give bitcoins of their own..so there is no way it can affect them
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June 30, 2016, 06:20:40 PM
 #50

I don't see how could the halving affects the gambling sites a part from the ones that have a mining activities which I am not aware of it
Since the users deposit their money in bitcoin then there will be a no effect for them
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June 30, 2016, 09:34:47 PM
 #51

I don't know...It really depends on how the gambling sites are managing their wallets and players money....If the price of bitcoin increases significantly after halving, the site is not 100 % liquid, and there's a run on the site bank, then it is possible that some sites may go bankrupt.  Something like this happened with Fulltilt when there was a run on the bank after the UIEGA seizures because Fulltilt was not 100% liquid.

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June 30, 2016, 09:39:18 PM
 #52

I don't know...It really depends on how the gambling sites are managing their wallets and players money....If the price of bitcoin increases significantly after halving, the site is not 100 % liquid, and there's a run on the site bank, then it is possible that some sites may go bankrupt.  Something like this happened with Fulltilt when there was a run on the bank after the UIEGA seizures because Fulltilt was not 100% liquid.

Just want to let people know that Moneypot has all its holdings in Bitcoin, so the trading price of it has no effect on the funds.
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June 30, 2016, 09:42:53 PM
 #53

Gambling sites will run as normal till now no one can speculate how the price of bitcoin will act lets wait and see ?

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June 30, 2016, 09:51:30 PM
 #54

Gambling sites will run as normal till now no one can speculate how the price of bitcoin will act lets wait and see ?

Yeah but for some people that those who care about the price they are are still relaying for the price of bitcoin while they are playing so that they know how much they can lose daily.. they have i think set minimum for gamble. they are not losing it all right now because of the event.

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June 30, 2016, 10:30:50 PM
 #55

I don't know...It really depends on how the gambling sites are managing their wallets and players money....If the price of bitcoin increases significantly after halving, the site is not 100 % liquid, and there's a run on the site bank, then it is possible that some sites may go bankrupt.  Something like this happened with Fulltilt when there was a run on the bank after the UIEGA seizures because Fulltilt was not 100% liquid.

Just want to let people know that Moneypot has all its holdings in Bitcoin, so the trading price of it has no effect on the funds.

Nice.  That is the wisest choice.  I wonder how many other sites are actually in the position to remain liquid at this point.  Many take their lessons from institutions like the Federal Reserve and use deposits to leverage withdrawals and only keep a small percentage of their exchange liquid. 

Anyway, you brought up an important point there. Hopefully, the other sites aren't taking risks either, but I am pretty confident that they may not be 100% liquid....that's not normal practice for these places.

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July 01, 2016, 05:58:54 PM
 #56

How will bitcoin price after halving affect gambling websites that offer 2X and also 3X returns ? will they also turn into a scam ? what is your opinion ?
Halving does not directly affects someone or anyone besides the miners. Why would it affect the gambling sites which offers big winnings?
maybe owners can get greedy and run away with gamblers money ? this happens most of the time with some sites. i heard it somewhere outside this forum that gambling site owners get greedy with the price increase and then they run away.
It may not happen with reputed gambling sites like primedice and luckybit as they are licensed sites and may face legal trouble if they just run away with the money like what happened to mtgox. It's just FUD spread by those who hate these gambling websites and we shouldn't believe them.
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July 03, 2016, 12:47:38 PM
 #57

Yes I also think the same, As we can see most of the bitcoin
site uses bitcoin rather than USD(mostly who advertises in this forum). They will not have any loss if bitcoin price increases
or decreases.
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July 03, 2016, 04:57:41 PM
 #58

I don't think so as gambling sites already have a said bankroll and they always adjust their prize money or bonus amount depending on the bitcoin price. If after halving we see a drop, the gambling sites too may adjust their min bet amount or max bet amount accordingly.

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