Investing in btc casinos

[Ziskinberg]

In between investing in BTC or real life casinos, I think is while better to do it online, since we cannot know if the site itself is not scamming by having algorithms to make people lose.

Also, it's affordable to invest online and there is no legal requirement just to investment, in overall it gives convenience to small and big investors. The market is wide, because most gamblers will prefer to just sit in their chair and gamble at home, I think it's the trend now and it has continued it's popularity.

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[adaseb]

One thing I've been thinking about lately is the likelihood of a casino operator doing an exit scam during bitcoin price surges like the one we're currently experiencing. For popular investor-backed casinos the commission earned by the operator is peanuts compared to the sum of investor funds. During times like these I think it must be extremely tempting to run away with the money, especially if you're the sole admin of a site and you suddenly have tens of millions (or more, if things keep up!) on your Ledger. I hope I'm wrong, but I have a feeling that over the next couple of months we'll see sites disappear which we previously viewed as permanent, irreproachable fixtures of the community. The argument that "if they were going to exit scam they would've done it already" doesn't seem very convincing to me...it's only recently that we came out of the bear market that started at the end of 2013. I think that the only smart way to invest in this climate is to spread your investment out evenly over 6+ casinos with the expectation that one or two will _definitely_ disappear suddenly. Good luck everyone!

The same can be said with any type of Bitcoin service.

Exchanges can do an exit scam because they hold massive amounts of BTC which right now is huge amounts of US dollars. Same with lending services and other micro BTC services.

In my opinion I think when BTC doubles in value, most people probably withdraw half of their BTC and cold storage it. Maybe not in a site like Coinbase but with most services people withdraw from time to time incase the casino runs off with their money or gets hacked.

Same reason why people are very scared to keep money on Bitfinex due to all these Tether issues.

[Bitfort]

...

Based on this list - https://steemit.com/bitcoin/@btcmillionaire/bitcoin-casino-investments-15-week-14-of-52

It looks like investing in casino ico not good because both BetKing and BitDice investments lost a lot of money. Betking is about 60% and Bitdice around 30% in less than 4 months time. Other bankroll investments have given around 5% profit in 14 weeks which is quite less for the risk investors are taking.

The above mentioned is misleading. e.g.  bitdice did not lost money ... he apparently bought CSNO tokens with BTC and compares with the total USD value at current price.
Actually CSNO doubled it's USD value since the beginning ... check https://ethplorer.io/address/0x29d75277ac7f0335b2165d0895e8725cbf658d73 

The problem is ANYTHING you bought using BTC few months ago is now a big loss for you !

His comparison is in BTC only not in USD. Because he spent money in BTC and expected profits in BTC, not in USD.

I do agree that BTC went up a lot in last few months so but for him it is still a loss so his report is correct. Just imagine if don't invest in that token then he would have made even more profits in terms of USD and that is what he is trying to say in his report.

Well, to me the bitdice report reflects his lost from not hodling those BTCs.
If he expects to be in BTC profit then he misunderstood the ICO conditions. Investors will be paid in ETH and with growing BTC price he'll most likely never reach any significant profit. But who knows.
The overview is relevant for regular bankroll investments (where you are paid in BTCs) but not for ICOs where funds were converted to fiat (when the ICO finished) and payouts will be in ETH.

Just saying the ICO investments (bitdice, betking) in same table with bankroll casinos is mixing apples with oranges.

[masik215]

I don't think that is good idea considering gambling as investment.

[nidacoinlove]

One thing I've been thinking about lately is the likelihood of a casino operator doing an exit scam during bitcoin price surges like the one we're currently experiencing. For popular investor-backed casinos the commission earned by the operator is peanuts compared to the sum of investor funds. During times like these I think it must be extremely tempting to run away with the money, especially if you're the sole admin of a site and you suddenly have tens of millions (or more, if things keep up!) on your Ledger. I hope I'm wrong, but I have a feeling that over the next couple of months we'll see sites disappear which we previously viewed as permanent, irreproachable fixtures of the community. The argument that "if they were going to exit scam they would've done it already" doesn't seem very convincing to me...it's only recently that we came out of the bear market that started at the end of 2013. I think that the only smart way to invest in this climate is to spread your investment out evenly over 6+ casinos with the expectation that one or two will _definitely_ disappear suddenly. Good luck everyone!

The same can be said with any type of Bitcoin service.

Exchanges can do an exit scam because they hold massive amounts of BTC which right now is huge amounts of US dollars. Same with lending services and other micro BTC services.

In my opinion I think when BTC doubles in value, most people probably withdraw half of their BTC and cold storage it. Maybe not in a site like Coinbase but with most services people withdraw from time to time incase the casino runs off with their money or gets hacked.

Same reason why people are very scared to keep money on Bitfinex due to all these Tether issues.

Almost everyone holding crypto in greater amount for long term prefer cold storage. No one want to take risk with a huge capital, the experts also advice to use cold storage. However, no investment is risk free therefore, people keep their coins in online wallet as well.

[albermaze]

Gambling is not investment. It can be a fun for people who like exitement or can enjoy loosing money or know a beautiful way to spend money if they win. However, people who believe that gambling can be an investment are mainly loosers (meaning dumping funds) or very very lucky persons.

[lite]

I don't think that is good idea considering gambling as investment.

Gambling is not investment. It can be a fun for people who like exitement or can enjoy loosing money or know a beautiful way to spend money if they win. However, people who believe that gambling can be an investment are mainly loosers (meaning dumping funds) or very very lucky persons.

Gambling money is not an investment, but providing/investing money in casinos bankroll is. we here are discussing about investment in casino's bankroll and it's profitable on long run.

[MinerHQ]

...

Based on this list - https://steemit.com/bitcoin/@btcmillionaire/bitcoin-casino-investments-15-week-14-of-52

It looks like investing in casino ico not good because both BetKing and BitDice investments lost a lot of money. Betking is about 60% and Bitdice around 30% in less than 4 months time. Other bankroll investments have given around 5% profit in 14 weeks which is quite less for the risk investors are taking.

The above mentioned is misleading. e.g.  bitdice did not lost money ... he apparently bought CSNO tokens with BTC and compares with the total USD value at current price.
Actually CSNO doubled it's USD value since the beginning ... check https://ethplorer.io/address/0x29d75277ac7f0335b2165d0895e8725cbf658d73 

The problem is ANYTHING you bought using BTC few months ago is now a big loss for you !

His comparison is in BTC only not in USD. Because he spent money in BTC and expected profits in BTC, not in USD.

I do agree that BTC went up a lot in last few months so but for him it is still a loss so his report is correct. Just imagine if don't invest in that token then he would have made even more profits in terms of USD and that is what he is trying to say in his report.

Well, to me the bitdice report reflects his lost from not hodling those BTCs.
If he expects to be in BTC profit then he misunderstood the ICO conditions. Investors will be paid in ETH and with growing BTC price he'll most likely never reach any significant profit. But who knows.
The overview is relevant for regular bankroll investments (where you are paid in BTCs) but not for ICOs where funds were converted to fiat (when the ICO finished) and payouts will be in ETH.

Just saying the ICO investments (bitdice, betking) in same table with bankroll casinos is mixing apples with oranges.

Because of this reason, I don't like to invest in ICOs because I don't want to convert my Bitcoins into cash now. I think bitcoin can grow even bigger than current market so I prefer to keep my coins in BTC, not in fiat currency.

I don't think that is good idea considering gambling as investment.

Gambling is not investment. It can be a fun for people who like exitement or can enjoy loosing money or know a beautiful way to spend money if they win. However, people who believe that gambling can be an investment are mainly loosers (meaning dumping funds) or very very lucky persons.

Gambling money is not an investment, but providing/investing money in casinos bankroll is. we here are discussing about investment in casino's bankroll and it's profitable on long run.

Gambling games is not an investment but it is spending money on your favourite games to enjoy. Many addicted gamblers think that they can make easy money so what ever they spend money on these games thinks that it is an investment.

[chokri29]

i can suggest to you FunCasino to invest in! They have a token called FUNC, you can buy some and you will be owner of a piece in the casino, you will get shares and monthly dividend from FunCasino benefits!( depending of tokens hold)  token is tradable in openledger and you can also use it to play online games in the casino!

[imadmirer]

Bitcoin casinos as an investment may not be a good idea but yes since you have 'got few coins on the side' I feel you are heading for the risk of what you can afford to lose. Casinos of late are turning out to be reputable. Though there is a lot of danger still lurking. One must be cautious and extremely careful about where they are heading and where they are placing their money. A thorough research is needed.

I too have had little encounters with casinos and I certainly prefer live casinos online, with live dealers such as Jetwin casino where I can actually see the deals. This is needed for my security. I do act with a lot of caution. An investment of a part of my profits I can always consider in safe BTC casinos for now.

[FirEaSeA]

In between investing in BTC or real life casinos, I think is while better to do it online, since we cannot know if the site itself is not scamming by having algorithms to make people lose.

You wont be possible to invest in a land based casino, they probably has millions of dollars minimum
[/quote]

But investing in land base casino is much safer even if you put millions in it. Anyone online can run away but it's hard when it is build.

[8Habits]

Bitcoin casinos as an investment may not be a good idea but yes since you have 'got few coins on the side' I feel you are heading for the risk of what you can afford to lose. Casinos of late are turning out to be reputable. Though there is a lot of danger still lurking. One must be cautious and extremely careful about where they are heading and where they are placing their money. A thorough research is needed.

I too have had little encounters with casinos and I certainly prefer live casinos online, with live dealers such as Jetwin casino where I can actually see the deals. This is needed for my security. I do act with a lot of caution. An investment of a part of my profits I can always consider in safe BTC casinos for now.

When betking were still accepting third-party investors in their bankroll, I was having lots of profit during those times until they close it and since then I never and have no plan of investing to online casinos - I just concentrate on trading now.

[Mike Mayor]

In between investing in BTC or real life casinos, I think is while better to do it online, since we cannot know if the site itself is not scamming by having algorithms to make people lose.

You wont be possible to invest in a land based casino, they probably has millions of dollars minimum

But investing in land base casino is much safer even if you put millions in it. Anyone online can run away but it's hard when it is build.
[/quote]

This is very true. Though I don't think landbased casinos accept investments. I'm sure they make u enough to run their casino with all the other things that go on in a casino that aren't directly related to the casino. Also it's most likely business within the casino building or near it would be first to be involved in an investment. Well established casinos won't need an investment. Land based casinos are huge and have been around many years.

[jaaeeeyyyy]

Hello!

I've got a few coins on the side and I'd like to make them work.
Which gambling site do you advise me to invest in the bankroll?

I think, you might be needing a lot of funds when investing on gambling site because they have minimum funds to be accepted and its kind a risky move because its all or nothing and win or lose situation. However , gambling is not an investment but a game where money counts and not just a number.

[lite]

I think, you might be needing a lot of funds when investing on gambling site because they have minimum funds to be accepted and its kind a risky move because its all or nothing and win or lose situation. However , gambling is not an investment but a game where money counts and not just a number.

The minimum amount required to invest in gambling site's bankroll is 0.01 BTC(some require even less) and it's not that risky, over long-run you will make profit. the more you'll invest the bigger returns you're going to get.

[MinerHQ]

Hello!

I've got a few coins on the side and I'd like to make them work.
Which gambling site do you advise me to invest in the bankroll?

I think, you might be needing a lot of funds when investing on gambling site because they have minimum funds to be accepted and its kind a risky move because its all or nothing and win or lose situation. However , gambling is not an investment but a game where money counts and not just a number.

I'm bit confused by your above post because you said gambling investments are nothing but win or lose. But that is wrong because you're not gambling directly when you invest your money in these bankrolls. Your profit or losses will go very slow so after few weeks if you don't like then you can withdraw your funds for some losses and you will not lose all your funds unless if casino site closed down all of a sudden.

[BTCevo]

I think, you might be needing a lot of funds when investing on gambling site because they have minimum funds to be accepted and its kind a risky move because its all or nothing and win or lose situation. However , gambling is not an investment but a game where money counts and not just a number.

The minimum amount required to invest in gambling site's bankroll is 0.01 BTC(some require even less) and it's not that risky, over long-run you will make profit. the more you'll invest the bigger returns you're going to get.

How can any investment do not even have a risk to take? Moreover it is much depends on your kelly if you said about risky thing. If you place on 10x kelly, you will gain profit in no time but sure you need some bankroll to sustain some big win there. But if you only play for around 2-3 kelly then 0.01 btc of course will be enough to get some profit

[8Habits]

I think, you might be needing a lot of funds when investing on gambling site because they have minimum funds to be accepted and its kind a risky move because its all or nothing and win or lose situation. However , gambling is not an investment but a game where money counts and not just a number.

The minimum amount required to invest in gambling site's bankroll is 0.01 BTC(some require even less) and it's not that risky, over long-run you will make profit. the more you'll invest the bigger returns you're going to get.

It is still risky but yes I agree that the more you invest regularly, you will have more chances of mitigating the risk and potential earning than just investing one time and forget.

The problem with investing just one time is that, there might be some lucky shark that will win big and you lose on that however, if you keep investing, you will get even and even earning more in the next run.

[shezu007]

I think, you might be needing a lot of funds when investing on gambling site because they have minimum funds to be accepted and its kind a risky move because its all or nothing and win or lose situation. However , gambling is not an investment but a game where money counts and not just a number.

The minimum amount required to invest in gambling site's bankroll is 0.01 BTC(some require even less) and it's not that risky, over long-run you will make profit. the more you'll invest the bigger returns you're going to get.

It is still risky but yes I agree that the more you invest regularly, you will have more chances of mitigating the risk and potential earning than just investing one time and forget.

The problem with investing just one time is that, there might be some lucky shark that will win big and you lose on that however, if you keep investing, you will get even and even earning more in the next run.

Well, as mate said that More you will investing in such areas then you are level of taking risk will also be increasing. So if you have strong level of taking risk then you will be able to do more investing in more complicated areas and you will also get more profit in this way. Otherwise without taking risk investment is not possible.

[8Habits]

I think, you might be needing a lot of funds when investing on gambling site because they have minimum funds to be accepted and its kind a risky move because its all or nothing and win or lose situation. However , gambling is not an investment but a game where money counts and not just a number.

The minimum amount required to invest in gambling site's bankroll is 0.01 BTC(some require even less) and it's not that risky, over long-run you will make profit. the more you'll invest the bigger returns you're going to get.

It is still risky but yes I agree that the more you invest regularly, you will have more chances of mitigating the risk and potential earning than just investing one time and forget.

The problem with investing just one time is that, there might be some lucky shark that will win big and you lose on that however, if you keep investing, you will get even and even earning more in the next run.

Well, as mate said that More you will investing in such areas then you are level of taking risk will also be increasing. So if you have strong level of taking risk then you will be able to do more investing in more complicated areas and you will also get more profit in this way. Otherwise without taking risk investment is not possible.

That is true. Taking risk is essential part of our lives whether it would be in our investment or in our daily life activities - for example, driving a car is a risk but driving it skillfully and safely, you mitigate that risk. This is just like in investing to btc casinos, we should take risk but we need to do our due diligence to find the most credible site to invest in.