Why Is Bitcoin Gambling Industry So Successful in the World?

[Patatas]

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

Every house all the money to pay to their players.This isn't any different from regular casinos.

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.

No customer verification ? lol unfortunately it's dying now,almost all the scam casinos request verification on withdrawals.That's the new scam trend in  the industry.

[maydna]

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.

i think its still not good to playing gambling too often because this will trigger us to become an addicting person in gambling games and i think its not good to depend on gambling just to find a way to get quick rich. we can playing gambling but we must know that there is still a risk behind each of the games and we should know our limit when we are playing gambling. there is no need to be shame to stop the games and leave the gambling place just to safe our money and control our self.

[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.

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.

And there's a volume of gamblers that are thinking that way so the success of the bitcoin gambling industry is very quick. They keep on hoping that it can happen to their real lives just like what happened to those few gamblers that experienced good result in gambling. And next to it is the anonymity that is giving by bitcoin.

[gabmen]

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.

And there's a volume of gamblers that are thinking that way so the success of the bitcoin gambling industry is very quick. They keep on hoping that it can happen to their real lives just like what happened to those few gamblers that experienced good result in gambling. And next to it is the anonymity that is giving by bitcoin.

well when it comes to earning faster, I think it's not that far from conventional casino and gambling. what separates bitcoin gambling is its security due to it being anonymous. I think that's the main reason why this industry is growing at a very fast rate. this gives gamblers so much more security than depositing from your bank account to a gambling or casino site

[DrGuns4Hands]

Bitcoin gambling industry is so successful in the world because more and more people are addicted on it. It is successful because of the people who used it! They want there money to be more so that they try their luck in gambling because they believe that the money that they spend on it would become double or maybe triple.

[SvenBomvolen]

I gamble with bitcoin only. With those bitcoin that my signature campaign pays me for my work. I can understand that popularity of bitcoin gambling or gambling with othe crypto. When I gamble I havnt fear to loose too much, and even if I loose this is the signature campaign's money that I got on some easy way. So everytime I lose I don't have regrets. I think there are many people just like me. That makes bitcoin gambling business to bloom.

[Bardman]

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.

What it refers to is that bitcoin can be divided in fractions (satoshis) Right now it goes to 8 decimals, however that's not the limit, there is no limit really, should bitcoins become more valuable there is nothing limiting the decimal places we can drag it out to.

[Red-Apple]

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.

What it refers to is that bitcoin can be divided in fractions (satoshis) Right now it goes to 8 decimals, however that's not the limit, there is no limit really, should bitcoins become more valuable there is nothing limiting the decimal places we can drag it out to.

it is possible but doing so is not going to be easy. that will require another fork and as bitcoin grows bigger, reaching consensus becomes harder because it is decentralized.
although this matter seems to small to cause any problems but we can never know until we reach that stage.

[Kevin77]

When I gamble I havnt fear to loose too much, and even if I loose this is the signature campaign's money that I got on some easy way.

Probably this must be one of the prime reason. People have not yet started treating bitcoin as their valuable money.

Further more, gamblers are usually known for spending lavishly and when they are partnering with bitcoin payments, their spending limit goes almost unlimitedly as they are never finding any hard feeling for spending money for their entertainment alone. Then why not bitcoin+gambling combination find its success ?

Similarly, in real life I do hear people do say that they are not finding any hard feeling when they are spending with their cards but they are becoming too conscious while spending with fiats. This is the case which fixes for bitcoins too.

[PokerFace3]

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

Yes that is very right to say that online gambling and specially bitcoin has totally changed the gambling. In previous days it was important to visit a casino and without that you would not be able to play gambling, but now even sitting in your house on your bet you can play gambling from a distance. Bitcoin even made it convenient for the people to play gambling even in such area where gambling is not legal.

[The_Dark_Knight]

Because gambling and bitcoin are the perfect combination, casinos are able to accept payments all over the world unlike other payment systems, they can receive payments without bank accounts, and for the users bitcoin gives them a layer of anonymity they don’t have in fiat.

[btcney]

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

im willing to bet( pun intended) that a large portion of the success with the bitcoin gambling industry comes from the fact that bitcoin purchases can be anonymous and thus countries cannot enforce rules and regulations as easily on players that would usually either have to jump through hoops to get there winnings or players that would go to jail for winning without btc. then you add the fact that some fiat casinos take weeks and month to cash out while bitcoin casinos can sometimes hold an average of less then 10 minutes to approve cashouts. These are most likely the two largest reasons leading to the bitcoin gambling industries successe. why? because people who aren't legally allowed to gamble and cash out real money with fiat currency that want to only have this as a viable option, and even of those who can legally cashout fiat gambled winnings usually have to wait long periods of time for the rewards so when the bitcoin gambling industry came along the would be gamblers that wouldn't participate before either because of no winnings or no instant rewarding no longer had a reason to not gamble so they all that monopolized by the Bitcoin Gambling Industry.

[Yuhee]

Because gambling and bitcoin are the perfect combination, casinos are able to accept payments all over the world unlike other payment systems, they can receive payments without bank accounts, and for the users bitcoin gives them a layer of anonymity they don’t have in fiat.

Ya and also when you gamble you are just giving back the thing u earned or mined, for you its a lose fbut for the btc it is a good trade. And btc is hard to and there are many of it to be mined and gambling is just like making rings out of gold then extracting it for another trading. In these tons of betting sites only few remain trustable and recommended by some projects because others algorithms are just too predictable.

[phr0stbyt3]

Actually i agree with you even i have noticed in the recent months most of the bitcoin gambling industries is spreading widely. I think the reason is:
First bitcoin is irreversible payment form so once a person deposits and loses there is no way he can reverse it so it is fair for both the casino and players.
Second bitcoin is a public currency so you are not answerable to anyone, unlike paypal where you need to submit documents in bitcoin there is no such thing.

[matchi2011]

Simple. Bitcoin gambling is a lot safer due to it's anonymity and players are attracted to that. It's also a lot easier to deposit/ withdraw your capital and winnings. I think bitcoin and gambling are made for each other considering the features btc has.

[serjent05]

Simple. Bitcoin gambling is a lot safer due to it's anonymity and players are attracted to that. It's also a lot easier to deposit/ withdraw your capital and winnings. I think bitcoin and gambling are made for each other considering the features btc has.

I agree, it made access to gambling very easy and possible even though the country has an illegal stance for gambling.  With a simple use of VPN you are legally playing gambling.  And there is no way of knowing your location unless you declare it since depost and withdrawal does not require your bank with full name and location in it.

[FasTroy]

Simple. Bitcoin gambling is a lot safer due to it's anonymity and players are attracted to that. It's also a lot easier to deposit/ withdraw your capital and winnings. I think bitcoin and gambling are made for each other considering the features btc has.

I agree, it made access to gambling very easy and possible even though the country has an illegal stance for gambling.  With a simple use of VPN you are legally playing gambling.  And there is no way of knowing your location unless you declare it since depost and withdrawal does not require your bank with full name and location in it.

You are right, bitcoin made access to gambling very easy, It's a good combination when we talk about playing gamble for people who under 18 years old or maybe in some country which they are a restriction about gambling sites.

[Pettuh4]

I believe Bitcoin payment processing has made it possible to gamble anywhere in the world on your computer, phone or any smart device and get paid instantly after winning. On the side of the bookies/house it's been tremendous because it's expanded their catchment area and have allowed people from all walks of life to gamble without being at the vet house in person and therefore increased their income.

[Lorilikes]

I believe there is a few reasons Bitcoin gaming is thriving.

1. For USA Residents you can't gamble unless you are 21 but it is legal online at 18 years old (I think)
2. Some people just would never leave the house unless they had to so many people are able to play from home that couldn't otherwise play
3. It's easier to access in a secretive way (yes we have all been there)
4. You can bet in microscopic amounts with satoshis.  That's called cheapskate. Oops, I mean frugal. 

[BitcoinPC]

Yeah, Bitcoin Gambling Industry is going to successful in this time, because of bitcoin. Bitcoin give the people comfort to play gambling at home, and earn in bitcoin. Than people start to play it and the result is showing that people are liking to play online gambling and win in bitcoin.