Why Is Bitcoin Gambling Industry So Successful in the World?

[ubercool]

Because of two reasons, Anonymity and restrictions. Lots of countries pose very high restrictions on gambling and people are addicted to it so they will convert their fiat to BTC and gamble in BTC. Anonymous transactions are another feature why BTC is major in gambling industry.

[piloder]

I can't get why article is referring bitcoin as infinite in volume under number 6.

6. Infinite
Bitcoin is infinite in volume.

Bitcoin have limited supply/volume so i don't think this make any sense.

[EdenHazard]

Those reasons from the article are true but now most bitcoin casino charges you for the miner's fees. The fees are also slowly getting expensive due to the network getting busy. The best reason I like from the article is the anonimity because I don't like risking my personal info when I gamble woth bitcoina and the 5th one your bitcoins don't increase but the price of bitcoin is always moving which makes bitcoin gambling so risky.

The fees are extremly low considering the taxes you'd pay on winnings with physical betting.

ahha! that is very true , those people who won huge amount of bitcoin won't get charged any taxes. unlike when you play in the real casino. withdrawal fee also really low compared to fiat online casino , pretty clear with just that one reason poeple prefer to use bitcoin.

there is a lot of benefit and that is why people keep coming to bitcoin casino to gamble.

[Chinesegandalf]

because bitcoin is fast , easy and secure !
nothing cant beat that.

[hurain]

I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st​ most successful casino was Satoshi Dice,​ which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article

Bitfcoin is currently very helpful in developing the gambling industry. Because bitcoin is currently almost all online gambling sites are becoming very popular. Ranging from the ease of playing up to make a deposit and also withdraw. As a result of this house casino home becomes more quiet. While gambling websites increasingly have a lot of gambler. This is one of the impacts of technological advances today.

yes most of the people are now playing gambling online and no doubt that bitcoin is their first priority. in fact bitcoin is more convenient for them to use for gambling, as they do not need to convert it in to local currency, as bitcoin has the same value everywhere and is also present everywhere in the world.

[digaran]

Bitcoin has provided the golden opportunity not only for everything in our daily lives but in businesses such as gambling, I think land casinos will start to feel threatened in coming years as online casinos will become more successful and more popular.
After all no one will ever go to a casino where all their games and machines are rigged and programmed.
Only time will bring more and more gamblers towards online casinos accepting Bitcoin and are really provably fair.

[Ziskinberg]

I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st​ most successful casino was Satoshi Dice,​ which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article

Gambling industry has help bitcoin to be more popular, in the past big volume of transactions are coming from gambling activities and it keeps growing now. If you have noticed there are a lot of gambling sites that are operating now, that is because they have seen some great opportunity to make money and they have identified the competition is not that big to serve a big market.

[Stedsm]

Bitcoin got spread like wildfire due to its properties of anonymity as well as fluctuating price which gave boost to its usage when it got introduced to gambling industry as they found profits in adding it to their platforms and they believed in Bitcoins. I wonder how much profits those casinos would have accrued who were in the game from the start?

[Oilacris]

I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st​ most successful casino was Satoshi Dice,​ which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article

Bitcoin gambling industry booms up because of bitcoin anonymity and the accessibility of making deposits and withdrawals and people do find it very easy and comfortable.Its the start on where bitcoin based gambling sites pops out every now and then when they saw that there are lots of potential players on using their site and also we know that gambling sites would remain profitable as long there are players who are willing to lose up their money.

[Barbut]

`2. Personal information not necessary` this is probably the main thing, along with `3. No fees during depositing or withdrawing`. I think that some bitcoin casinos offer good promotions for attracting people, that is main thing in any business today, make good marketing good promotions and you have more chances to attract more people. Due restrictions that some countries have, bitcoin is perfect currency for gambling, anyone can use vpn and access bitcoin site, deposit without much bothering, with fiat everything is more harder, people starting to realize that more and more.

[Winner]

 One of the reasons why Bitcoin Gambling websites are really successful is because it's much better to spend money electronically instead of in-person. Since the transactions of Bitcoin is kind of fast if the right amount of money is put into the transaction fee, gamblers don't have any issues with the processing of payments -It's really different with regular cash because it's pretty tough to send money over the Internet without having anyone noticing that the money was moved.

[ethereumhunter]

I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st​ most successful casino was Satoshi Dice,​ which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article

Gambling industry has help bitcoin to be more popular, in the past big volume of transactions are coming from gambling activities and it keeps growing now. If you have noticed there are a lot of gambling sites that are operating now, that is because they have seen some great opportunity to make money and they have identified the competition is not that big to serve a big market.

i agree with Ziskinberg said because todays bitcoin gambling sites is really famous and maybe people only know bitcoin is just for gambling and they don't realize that bitcoin can used by other ways. bitcoin gambling industry getting successful because gamblers gets easy ways to playing gambling and they don't have to used many documents to gets started. still gambling industry is help bitcoin to gets known by many people in that industry and this is the other reason that bitcoin become famous.

[eternalgloom]

They definitely offer certain functionality that other traditional casino's don't offer.

For example, when I gamble on the website of a traditional casino with a license in my country, I have to wait 2 to 3 days before a payout is even approved and after that another 2 days before the money is on my bank account.

At most Bitcoin casino's, withdrawals are pretty much instant and the games have a pretty low house edge.

[lite]

But to withdraw funds in some of the casino's players need to pay small fees to get back their funds. Only one or two casinos may be paying the withdrawal fees and one of them is fortunejack site. Apart from that other reason are true and the most important one is anonymity. People can play these games from home or any other place with internet without providing any document proofs to these sites makes more comfortable for most of the gamblers to chose bitcoins or other cryptocurrencies.

Don't we pay fees for depositing? even though fee is small, it's still a fee that we have to pay to get our transactions confirmed.

anonymity and fast deposit/withdrawal is the most important properties that makes bitcoin gambling successful.

[bajing]

Easy because gamblers do not want their identities to be knowed and almost all fiat gambling asks us to verify accounts to able make a withdrawals but with the advent of bitcoin gambling site. we do not need to verify our account maybe that's why bitcoin gambling sites are successful.

[The_prodigy]

I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st​ most successful casino was Satoshi Dice,​ which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article

because gambling is challenging, exciting yet fun. we use our whole mind in gambling , in order for us to win a game. we need to stay focus and be wise in everything. we can win a lot of money in gambling as well as we can have many co gamblers friends their. we need to enjoy playing also to avoid losing and to avoid being absent minded in the game.

[emberbekas]

Easy because gamblers do not want their identities to be knowed and almost all fiat gambling asks us to verify accounts to able make a withdrawals but with the advent of bitcoin gambling site. we do not need to verify our account maybe that's why bitcoin gambling sites are successful.

The anonymity that bitcoin offer give a big impact to gambling industry. Gamblers who used to be reluctant/afraid to gamble online with fiat now flocked to enliven gambling sites. This mainly caused by the anonymity which bitcoin offers.

[timerland]

There are plenty of reasons why bitcoin has became so successful in the financial world, and I think that the most important reason is that a regular, not important citizen of even small country can make settlements with anyone else, and it does not matter where this person/company lives.
It is all about connection to the internet, and the ability to obtain some bitcoins through some particular job or activity, or just by buying them on the exchange / from the merchant on localbitcoins.com.

Also, the very important thing is that bitcoin and overall cryptocurrencies, give thousands of opportunities to make money: on investing, speculating, trading, posting , coding or anything else you are actually good at. That is why so many people are interested in it, and this is also the reason why they are ready to spend so much money for it.

[eternalgloom]

Easy because gamblers do not want their identities to be knowed and almost all fiat gambling asks us to verify accounts to able make a withdrawals but with the advent of bitcoin gambling site. we do not need to verify our account maybe that's why bitcoin gambling sites are successful.

The anonymity that bitcoin offer give a big impact to gambling industry. Gamblers who used to be reluctant/afraid to gamble online with fiat now flocked to enliven gambling sites. This mainly caused by the anonymity which bitcoin offers.

I don't think that this is a really big reason in countries that already have legalized online gambling. You can also gamble somewhat anonymously on regular gambling websites.
At least anonymous for your friends and family.

I'm not sure why you'd have to gamble anonymous from the government in case it's legal.

[freebutcaged]

First of all gambling didn't help Bitcoin but the other way around, if there was no cryptocurrency there couldn't be any online casino like now we have a saturated market filled with them. they have also opened some doors for fraud, scam and theft.

You can literally sit at your desk in home or office or in bathroom with mobile phone or laptop and internet access and bring the entire casino under your finger tips.

Why people travel using airplanes? because it's fast and convenient.

Why people buying smart phones? because it gets the jobs done much faster and are easy to use and you can carry them around with no efforts.

Why and why and many more questions, if you could offer something better than Bitcoin and it being accepted worldwide and out side of the reach of governments then people will use it, only matter of convenience IMO.