Why Is Bitcoin Gambling Industry So Successful in the World?

[Zicadis]

Some of the reasons i believe btc gambling is successful is people want to kill two birds with one stone, the first win the house second have a bag lot of bitcoins to pay you well when price goes to the moon...its that fast of an investment industry

On of the prime reasons is the ease of access to these services with little to no customer verification's and players been able to play anonymously which opens the doors to more users.

[chaser15]

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

Prior to reading the article, this is my respond based on my knowledge why bitcoin gambling industry is succesful:

-Anonymous. Who doesn't want to be anonymous when playing gambling? This kind of specifications is a must especially when dealing in an online gambling. Other online gambling site outside crypto world required identifications before they can able to play or withdrawn.

-Fast deposits. Fiat transfers needs some fiat payment processors that is supported by those online casinos so that they can able to deposit. We all know that payment processors, for e.g, Paypal, Payza or even linking bank account will destroy the system of anonymity. Unlike in bitcoin that transfer is just one click away.

-Promos, rewards, bonus, deposit bonus and giveaways. No doubt these are one of the factors why new gamblers is coming to a gambling site.

Now after reading the article, I see that it's majority for us to think that being anonymous is really important for all gamblers.

[game-protect]

The for $12 million purchased satoshidice.com domain is in free fall on Alexa Global Rank: 627,500 - 311,500 = 100% down within 1 month!!!

[romero121]

More people are interested into gambling but the regulations within the country doesn't allow them to be a part of the industry. Now bitcoin has helped them overcome these issues and play easily. Also the on time settlement is quite good than the gambling websites functioning with fiat. One who start using bitcoin gambling websites will never think of playing  with fiat anymore.

[Oilacris]

More people are interested into gambling but the regulations within the country doesn't allow them to be a part of the industry. Now bitcoin has helped them overcome these issues and play easily. Also the on time settlement is quite good than the gambling websites functioning with fiat. One who start using bitcoin gambling websites will never think of playing  with fiat anymore.

Bitcoin does break that barrier on which most people prohibits them on playing gambling online and not only that the payment options like using your card is really a compromised thing regarding on our identity which means when bitcoin do exist already on gambling world then its really a great or big innovation which most gambler do really like to use it and they would not ever comeback on using their cards again.

[TheGodFather]

It is successful because of the the people who are using it. More and more people are get addicted on it. They want to earn more and more, they are trying their luck in gambling. And it is because of the jackpot prizes that changes and increases everytime. Thats the reason behind that matter. It is a matter of fate and luck.

[lemipawa]

The player being anonymous is one of the reason why Bitcoin gambling is successful. The freedom to play anywhere whether at home, at your car, office, regardless if its a laptop, desktop, tablet or smart phone also helped in making Bitcoin gambling successful. Lastly, whenever there is a continuous increase of Bitcoin price, you will see an increase of activity in gambling sites.

[michaelch]

I think many people who gamble with bitcoin do not look at it as playing with real money. Hence there is less control over how the bitcoins are used.

[joshy23]

I think there is only one answer here. Anonymity. From casual to hard core gamblers, they want to protect their identify and don't want to be exposed as being a gamblers. Additional reason is that with bitcoin, you can just deposit to any gambling site if you want to play. So you can play anytime you want anywhere as long as you have the bitcoin and internet connection. Also, the jackpot prizes that has been offered lately has really attracted a lot of gamblers worldwide to try and hit it.

[LastKiss]

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

Basically the higher HE gambling industry had the more they earn, but if only that reason they won't able to become successful they need people who play it and need good marketing skill to make it more famous. Supported by bitcoin that currency very easy to get many people start to collect them and tried to gambled. 

[bhadz]

It is successful because:
1. The fact that there are many gamblers and people that wanted to earn fast and they saw that it can be possible with bitcoin gambling.
2. Gamblers are secured and anonymous when they are using bitcoin to gamble.
3. There are a lot of gambling sites to choose and the minimum bet is really low.
You can add with my list guys.

[moviebuff777]

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

On reason for the success in the gambling industry is that there is always a house edge. The house comes out ahead most of the time.

The other reason and maybe the main reason is that gambling draws in customers because it is exciting. It is also addictive so some people can't stop gambling. Those people will keep playing until they lose everything.

[maydna]

I think there is only one answer here. Anonymity. From casual to hard core gamblers, they want to protect their identify and don't want to be exposed as being a gamblers. Additional reason is that with bitcoin, you can just deposit to any gambling site if you want to play. So you can play anytime you want anywhere as long as you have the bitcoin and internet connection. Also, the jackpot prizes that has been offered lately has really attracted a lot of gamblers worldwide to try and hit it.

yes anonymity is really help gamblers to not send their personal info to any gambling sites and they can playing gambling without using their identify. the other reason is gamblers can exchange their money into bitcoin and then make deposit into gambling site and after that they can directly playing many gambling games. gladly that todays, there many bitcoin gambling sites and they are compete with the other site to attract more member to playing gambling in their site and they also give some bonus for every new members that join in their site.

[arwin100]

Because of its anonymity that can make the gambler untraceable when they are betting on some restricted countries. and if you compare betting between real fiat and bitcoins well you can found out that fiat gambling den have higher minumum bets unlike those online gambling site where you can bet even 1 satoshi beneath on them so preferably people would go to bet on by using bitcoins since they can feel secure and do some expiremental bets on minimal amounts.

[beerlover]

Our country doesn't allow gambling and it is illegal . Many people who wanted to gamble but couldn't gamble are now able to gamble because of Bitcoins and stay anonymous . Nobody asks you any questions when you are converting BTC to your local currency and hence its as easy as it gets .

Where in such area where gambling is illegal, there people are playing gambling online, but now the government  is taking another step and going to restrict such site where people are playing gambling online. But I know still people are not going to stop it, they will even find other ways of playing gambling online.

[The_prodigy]

It is successful because:
1. The fact that there are many gamblers and people that wanted to earn fast and they saw that it can be possible with bitcoin gambling.
2. Gamblers are secured and anonymous when they are using bitcoin to gamble.
3. There are a lot of gambling sites to choose and the minimum bet is really low.
You can add with my list guys.

Yes these is correct. People choose a way that they can earn faster than they are working out. They put a risk even though thats a very big money to lose whenever they cant win the game. Off course in bitcoin gambling nobody can identify them because gambling sites protects them. These are the major reasons why gambling makes people interested a lot.

[Slark]

This article is pretty much written by a bitcoin newbie or someone who want to convince others that Bitcoin is amazing, while in reality if has some flaws.


1. Anonymity - BTC is not exactly 100% anonymous, and if you are using gambling service without VPN/TOR you can be tracked anyway.
2. Personal information not necessary - that is correct in most cases.
3. No fees during depositing or withdrawing - not anymore, standard fee of bitcoin transaction is now around $1 (60.000 satoshi)
4. BTC gets placed into one’s account so fast - probably faster than fiat deposit but bitcoin confirmation can take up hours.
5. The currency value does not increase - WTF is this argument?
6. Bitcoin is infinite in volume - another WTF argument. I don't even know what author wanted to say here.

[flower1024]

I think many people who gamble with bitcoin do not look at it as playing with real money. Hence there is less control over how the bitcoins are used.

I don't think it is a good reason for bitcoin gambling industry to grow. If you buy a bitcoins using your fiat currency then you should be knowing that it is nothing but a real money unless you got these coins freely from someone. Otherwise, I don't think anyone thinks like what you said.

As written in that article, those are the few points which actually boosted bitcoin gambling industry even though there are small withdrawal fee and some delays in withdrawals.

[Faiyz]

I think many people who gamble with bitcoin do not look at it as playing with real money. Hence there is less control over how the bitcoins are used.

I don't think it is a good reason for bitcoin gambling industry to grow. If you buy a bitcoins using your fiat currency then you should be knowing that it is nothing but a real money unless you got these coins freely from someone. Otherwise, I don't think anyone thinks like what you said.

As written in that article, those are the few points which actually boosted bitcoin gambling industry even though there are small withdrawal fee and some delays in withdrawals.

Well i would want to se btc industry to grow but its just i would not agree if a state will use it as one of its tax payers. Cause the only threat technically in btc is it does not use taxes, just fees to cover for transactions. Because btc is a new mineral to mine for profit, many countries already built super computers just to mine the btc that has spread all over the web and it also a reason why it is fluctuation to entice more investors.

[ufaiz50]

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

I don't really understand at point 5 and 6. and I think why gambling is a successful industry because it's one of the much favored entertainment in addition to gambling can also make people so addicted and also a solution for people who want to get quick rich if lucky. regardless of bitcoin or fiat money.