Bitcoin price and gambling

[ethereumhunter]

Hello,

We all see how big is going to be Bitcoin again but personally I am thinking how the bitcoin price is affecting the market of gambling?

Cheers

i think it would be affect with the market of gambling because with the price now, to make deposit at least 0.1 btc is equal with $110 and i don't think people with limited stock of bitcoin will gamble with this amount, maybe they will reduce the amount of bitcoin but its still worth in fiat. i mean maybe they will deposit 0.05 btc that is equal with $55.

[piloder]

The only effect i think is going to be on profit that gambling site will be making because as we all know house always win in end and if total profit any casino is making remain same in terms of bitcoin (which used to remain same despite of price change), casino will be making more profit in terms of fiat.

[Golftech]

The only effect i think is going to be on profit that gambling site will be making because as we all know house always win in end and if total profit any casino is making remain same in terms of bitcoin (which used to remain same despite of price change), casino will be making more profit in terms of fiat.

For sure mate as long as they have this system house will always in its favorable state theres no effect in nay manner with the gamblers since they always love playing so for sure whatever the price is gambler will still play and for sure house will be more happier.

[Fireblade]

The only effect i think is going to be on profit that gambling site will be making because as we all know house always win in end and if total profit any casino is making remain same in terms of bitcoin (which used to remain same despite of price change), casino will be making more profit in terms of fiat.

but i think that every house have the same strategy, there are some gambling sites who depend on their commission only and do not take the support of house edge. i think bitcoin price has a little effect on my gambling.

[avatar_kiyoshi]

The nice thing is how you can bet in units smaller than 1 bitcoin.

The moment where one satoshi is too big of a bet for the common person or even the smallest gambler is not even close.

This is what I'm thinking and this is absolutely the effect of the price increase. So if you are that kind of gambler that are betting small amount for each dice you make, then you can now bet lower than that because the small amount that you use to bet is now bigger.

The potential issue here though is that some gambling sites have min bet sizes in place. When they don't move with the increased bitcoin price, at one point you are not able to make the small bet you planned.

They may increase min or max bets, but when their investors stay with the same amount of bitcoin, there is not really a reason for them to change the min/max bet sizes.

With bitcoin price increased, house always win more, like this min/max bet, the house can decided, for a gambler it's a kind of disadvantage, because if the house not make a lower min bet gambler need to deposit more fiat.

There's no impossible if the house will not change min bet.

[EdenHazard]

The nice thing is how you can bet in units smaller than 1 bitcoin.

The moment where one satoshi is too big of a bet for the common person or even the smallest gambler is not even close.

This is what I'm thinking and this is absolutely the effect of the price increase. So if you are that kind of gambler that are betting small amount for each dice you make, then you can now bet lower than that because the small amount that you use to bet is now bigger.

The potential issue here though is that some gambling sites have min bet sizes in place. When they don't move with the increased bitcoin price, at one point you are not able to make the small bet you planned.

They may increase min or max bets, but when their investors stay with the same amount of bitcoin, there is not really a reason for them to change the min/max bet sizes.

With bitcoin price increased, house always win more, like this min/max bet, the house can decided, for a gambler it's a kind of disadvantage, because if the house not make a lower min bet gambler need to deposit more fiat.

There's no impossible if the house will not change min bet.

i don't think a gambling site/casino increased the minimum bet , it is doesn't makes sense.

but they might can change the max bet as it is about the site bankroll , especially when bitcoin price skyrocketed. also there is nothing makes house edge always win more with bitcoin price move up lol , no influence at all for the house edge.

[Xenophoto]

We all see how big is going to be Bitcoin again but personally I am thinking how the bitcoin price is affecting the market of gambling?

Since you bet in units of bitcoins in gambling sites like mBit, uBit, etc. The price of bitcoin isn't always in the mind of the users. The previous price increase doesn't matter to the gambling site owners. It's actually on their advantage since they're making much more money in terms of dollars today assuming that they make the same amount of bitcoins as before.

1BTC is still 1BTC in the eyes of most people especially gamblers since they only convert whenever they need to. Not everyone looks at the price of bitcoin every time. Even though they know that the price is high right now, they surely will not bet lower than they used to since it's the same for them.

[boyptc]

The nice thing is how you can bet in units smaller than 1 bitcoin.

The moment where one satoshi is too big of a bet for the common person or even the smallest gambler is not even close.

This is what I'm thinking and this is absolutely the effect of the price increase. So if you are that kind of gambler that are betting small amount for each dice you make, then you can now bet lower than that because the small amount that you use to bet is now bigger.

The potential issue here though is that some gambling sites have min bet sizes in place. When they don't move with the increased bitcoin price, at one point you are not able to make the small bet you planned.

They may increase min or max bets, but when their investors stay with the same amount of bitcoin, there is not really a reason for them to change the min/max bet sizes.

With bitcoin price increased, house always win more, like this min/max bet, the house can decided, for a gambler it's a kind of disadvantage, because if the house not make a lower min bet gambler need to deposit more fiat.

There's no impossible if the house will not change min bet.

i don't think a gambling site/casino increased the minimum bet , it is doesn't makes sense.

but they might can change the max bet as it is about the site bankroll , especially when bitcoin price skyrocketed. also there is nothing makes house edge always win more with bitcoin price move up lol , no influence at all for the house edge.

Yeah it doesn't have something to do with the their min/max bet. Because for us gamblers we can just adjust whatever the amount we wanted to bet. For their bankroll also I don't think it does have something to do with their investors, unless some of their investors will pull out their investments and take the chance to cash it out because of the price.

[Karartma1]

I don't know if you share my feelings guys but since the huge spike price I did not feel like gambling so much (in BTC I mean). Most of my funds are in cold storage and my hot wallet is almost empty so I don't have much to gamble these days.

[jack1111]

I think the rise of Bitcoin price will affect the gambling market positively, because that rise will result in more Bitcoin users, as we can watch now that all news companies focus on Bitcoin price rise, so Bitcoin is getting more popularity.

[BTCLovingDude]

Hello,

We all see how big is going to be Bitcoin again but personally I am thinking how the bitcoin price is affecting the market of gambling?

Cheers

looks like it doesn't matter much not because we are back at the normal bitcoin price levels once again and the slow rise is going to start soon and with a slow and stable rise nobody thinks much about changing their plans in gambling and the gambling market is not affected much because of it.

[Patatas]

I think the rise of Bitcoin price will affect the gambling market positively, because that rise will result in more Bitcoin users, as we can watch now that all news companies focus on Bitcoin price rise, so Bitcoin is getting more popularity.

I'm afraid not!
Rise in bitcoin prices will make it unaffordable for new adapters.$1000 for 1 bitcoin does seem a bit expensive.Even though the investment is safe,it is a costly one at this point of time.
The holders aren't selling right now,market demands are unsatisfied.Don't think potential bitcoin gamblers would love taking a few loses.
The rise in bitcoin prices has already attracted big organizations and government sectors .The bitcoin gambling industry might not have a future if government plans to impose taxes on using bitcoin services.

[btcdevil]

I think the rise of Bitcoin price will affect the gambling market positively, because that rise will result in more Bitcoin users, as we can watch now that all news companies focus on Bitcoin price rise, so Bitcoin is getting more popularity.

I'm afraid not!
Rise in bitcoin prices will make it unaffordable for new adapters.$1000 for 1 bitcoin does seem a bit expensive.Even though the investment is safe,it is a costly one at this point of time.
The holders aren't selling right now,market demands are unsatisfied.Don't think potential bitcoin gamblers would love taking a few loses.
The rise in bitcoin prices has already attracted big organizations and government sectors .The bitcoin gambling industry might not have a future if government plans to impose taxes on using bitcoin services.

I dont think that the price will affect the gambler who are betting in sports betting, as most of then are following the bankroll system so they have set their gambling budget and they bet according to it. only those who are gambling in sense of earning high in a day will stop it as if they lose then it will be high lose. But still i think the gambling market wont get affected as gamblers who are not stoppable even on any price due to habit of gambling. Even if government plans to impose taxes on using bitcoin services but still gambling sites should think of the account id proof till then no problem for gambler.

[tyz]

I have no experience, but basically I think that higher the price the less Bitcoin are used for gambling on average. However, this will not change much in fiat value. In addition, the increasing popularity of Bitcoin is constantly adding new users to the sites.

[eternalgloom]

I think the rise of Bitcoin price will affect the gambling market positively, because that rise will result in more Bitcoin users, as we can watch now that all news companies focus on Bitcoin price rise, so Bitcoin is getting more popularity.

I'm afraid not!
Rise in bitcoin prices will make it unaffordable for new adapters.$1000 for 1 bitcoin does seem a bit expensive.Even though the investment is safe,it is a costly one at this point of time.
The holders aren't selling right now,market demands are unsatisfied.Don't think potential bitcoin gamblers would love taking a few loses.
The rise in bitcoin prices has already attracted big organizations and government sectors .The bitcoin gambling industry might not have a future if government plans to impose taxes on using bitcoin services.

I'm not sure if the high price really deters new users from buying, I mean Bitcoin is almost infinitely divisible and in the grand scheme of things, 1000 dollars isn't that much for investing purposes.

[valta4065]

there are already multiple topics about this in this board discussing about this.

to sum it up, most people won't care much unless there is a ridiculously large bitcoin price rise like going to $5000 but with these rises nowadays, they keep on keeping their old habits. specially those who are earning bitcoin and the amount they are earning has not changed with the price rise.

you earn x then spend y and if you earn x/2 you can no longer spend y you have to spend y/2 too

You're not exactly wrong but the current high volatility is a real pain in the ass!
I was just playing poker on Fortune Jack, casino poker. The game is live (which is pretty cool) but the game balance is in dollars! That means that when you start the game your btc balance is converted into dollars and when you close the window it's reversed and your dollars are converted into btc.
I had a good session and went from 30$ to 65 so pretty cool. But I started the game when btc was low and closed it when it rised again! So even if I more than doubled my stacks I went from around 0.04btc to 0.075btc! So it's not important but that still has some effects on the games ^^

[Rahar02]

The only effect i think is going to be on profit that gambling site will be making because as we all know house always win in end and if total profit any casino is making remain same in terms of bitcoin (which used to remain same despite of price change), casino will be making more profit in terms of fiat.

Oh, you've a point. gambling sites get profits in bitcoin but actually gambler reduce their capital for gambling due to bitcoin price increase or vice versa, cause less of profits of btc for the site but if convert into fiat and it should be stable profits for the house right.

[virtualkeybuyer]

According to my views it will have a very good affect on gambling sites and casinos which use bitcoins because people have their limits of bits for playing and if the price of bitcoin will increase then the earnings of the owners will also be increased.

[Bitcoinsummoner]

According to my views it will have a very good affect on gambling sites and casinos which use bitcoins because people have their limits of bits for playing and if the price of bitcoin will increase then the earnings of the owners will also be increased.

There is positive effect for most of the gambling owners because they are using bitcoin in gambling and the price of bitcoin is gradually increase and i think those gambling owners they are not exchanging their bitcoin fast into fiat but if the price is increasing i think some of them they are exchange their bitcoins into fiat just to save the profit from price increase

[markyminer]

I think the rise of Bitcoin price will affect the gambling market positively, because that rise will result in more Bitcoin users, as we can watch now that all news companies focus on Bitcoin price rise, so Bitcoin is getting more popularity.

yes i also have the same feeling. hope that when the number of bitcoin will increase it will bring a positive effect on online gambling, as more people will ry their luck and the gambling sites will become crowded and that is the good point about bitcoin.