Gambling percentage of the crypto-economy?

[YodaYoda]

Hello,

Don't know if this is the right forum, but what is the gambling percenatge of the total crypto-economies?  I read in some ICO document, maybe it was Betkings that it was 60%. I read 15% somewhere else.

Anyone know an accurate number and statistical source?

[DarkStar_]

There is no way to know for sure, given that bitcoin is pseudo anonymous so we usually can't tell if a transaction is using bitcoin to buy something, deposit in a gambling site, or mixing their coins. There are a lot more bitcoin transactions compared to a few years ago.

The percentage that you saw was probably from an estimate that was done a few years ago, when Luckyb.it was a very large gambling site. They had special public deposit addresses, and I think someone analyzed how many transactions were to Luckyb.it and how many weren't to get an estimate.

Why do you want to know this info?

[YodaYoda]

There is no way to know for sure, given that bitcoin is pseudo anonymous so we usually can't tell if a transaction is using bitcoin to buy something, deposit in a gambling site, or mixing their coins. There are a lot more bitcoin transactions compared to a few years ago.

The percentage that you saw was probably from an estimate that was done a few years ago, when Luckyb.it was a very large gambling site. They had special public deposit addresses, and I think someone analyzed how many transactions were to Luckyb.it and how many weren't to get an estimate.

Why do you want to know this info?

I found that some ICO's put in percentages, and one put in 65%, which I found to be high. I realize of course it depends on how counting is done, and that exchange transactions is by far the largest chunk of transactions. I read on coindesk I think 18 months ago that the author of that article determined it was 15%, without mentioning source or methods.

The reason why I am asking is due to that I write business reports, sometimes articles and have a general business interest in crypto-gambling, as I am involved with gambling myself. But as you pointed out, the anonymous nature make it harder to determine.   I had hoped there was some unknown method when the ICO whitepapers etc. had stated numbers. But then again, the ICO's seems to contain quite a bit of fluffed up data.

[iram3130]

I don't think there is any accurate number for this, it is like finding the total number of people in the world who are using bitcoins. I don't think it is more than 50% but some say it is which is hard to believe.

[xIIImaL]

I don't think there is any accurate number for this, it is like finding the total number of people in the world who are using bitcoins. I don't think it is more than 50% but some say it is which is hard to believe.

From my view I will assure that bitcoin is been involved in gambling. This we can confirm it by number gambling site and campaign involved via gambling will confirm it. I speculate that 60% percentage of btc and alt economy is based on the gambling and other 40% will be involved in smart contract projects, ICOs, mining and lending.

[YodaYoda]

I don't think there is any accurate number for this, it is like finding the total number of people in the world who are using bitcoins. I don't think it is more than 50% but some say it is which is hard to believe.

From my view I will assure that bitcoin is been involved in gambling. This we can confirm it by number gambling site and campaign involved via gambling will confirm it. I speculate that 60% percentage of btc and alt economy is based on the gambling and other 40% will be involved in smart contract projects, ICOs, mining and lending.

If it's really 50-60% of the overall  btc economy, then it must be very large numbers. Question is then, of the 45 billion dollar gambling market, how much of that is crypto?  I talked to some payment processors, and large operators and they stated that now 10-15-20% are bitcoin (and other cryptocoins) of their overall transaction volume.  I know it's hard to find numbers, but when doing business reports, I sometimes try to go beyond pure conjecture at least
So if the gambling market is 45 billion and say 15% is crypto, is then the cryptogambling market ~6-7 billion? And if the 6-7 billion represents 50% of the total crypto market, is then the total crypto market, including darknets etc. 12-14 billion?   

Very interesting numbers indeed. I had thought the crypto-gambling market to be a bit smaller, maybe 1-2 billion. What say the community? My numbers make sense or are they off?

[adaseb]

I think back in the new days of Bitcoin 2012-2013 or so since the value was much less more and more people gambled with the Bitcoins. Because back then there wasn't much you would do with them.

Now there are many services and other altcoins so the total percentage is probably much much less however if you look at the amount of rolls and users registered on sites like Primedice, it shows you what huge amounts of BTC is gambled daily.

I would say its like 5% of total.

[DainSLane]

It's hard to tell we don't know the exact number of people who use bitcoins and spending it on gambling because of the community growing and adopting cryptocurrencies, i think people who have a large amount of coins do gambling but i don't know what is the exact percentage because if you are a wise man you don't want to lose all your money on gambling.

[Fundamentals Of]

The estimates that you have come across somewhere is very very rough. It is hard to tell and even harder to find out. However, I think gambling is one thing that cryptos are great in offers. Alts especially focusing on gambling are the ones that are ruling. Bitcoin's use in gambling has diminished significantly I guess. BTC has grown really huge in value that other alts are more like safer to use in gambling.

[klf]

I don't think there is any accurate number for this, it is like finding the total number of people in the world who are using bitcoins. I don't think it is more than 50% but some say it is which is hard to believe.

I'm not sure about the percentage but what I know is bitcoins are more popular in gambling industry compared to any other industry as of now. Because of its popularity now many people have started to invest in it and most of those people may not be gambling. So there is no way anyone can give you the accurate information for your query.

[kolloh]

I don't think there is any accurate number for this, it is like finding the total number of people in the world who are using bitcoins. I don't think it is more than 50% but some say it is which is hard to believe.

I'm not sure about the percentage but what I know is bitcoins are more popular in gambling industry compared to any other industry as of now. Because of its popularity now many people have started to invest in it and most of those people may not be gambling. So there is no way anyone can give you the accurate information for your query.

Yeah, bitcoin fits with the gambling industry quite well. And bitcoin casinos tend to be much better than their fiat counterparts especially with their provably fair implementations. I'd say that the percentage is quite high but it is hard to tell for sure.

[piloder]

I read in some ICO document, maybe it was Betkings that it was 60%. I read 15% somewhere else.

Anyone know an accurate number and statistical source?

- If you are talking about betking's ICO whitepaper than those stats can't be accurate, they are trying to get more funds by showing larger percentage of bitcoin economy is in gambling.

There is no way to find out accurate number or stats for this but obviously it is more than 15% but less than 60%.

[bitbunnny]

I beleive that percentage is that high as you say, maybe even biger but you will not find an accurate number for your document, just estimations, because as far as I know there is no relevant method to measure this and I'm not sure that someone is even monitoring these figures. Maybe you could engage someone to make some survey, if that would satisfy you.

[btckings1]

What exactly do you mean by " the gambling percentage"? is it the amount of money the players send to their online-gambling wallets or the aggregated amount of their collective wager - which will be many, many, many times higher.

Or did you mean the amount that online crypto casinos win, which will be about 25% of the money players send to their wallet or about 1-3% of their total wagers.

Either way, i don't think any of that can be estimated with any significant precision.

[adzino]

Hello,

Don't know if this is the right forum, but what is the gambling percenatge of the total crypto-economies?  I read in some ICO document, maybe it was Betkings that it was 60%. I read 15% somewhere else.

Anyone know an accurate number and statistical source?

You should be more specific. What do you mean by gambling percentage of total crypto-economies? Don't think any accurate statistic has been made yet. So it's actually hard to tell.

[YodaYoda]

Hello,

Don't know if this is the right forum, but what is the gambling percenatge of the total crypto-economies?  I read in some ICO document, maybe it was Betkings that it was 60%. I read 15% somewhere else.

Anyone know an accurate number and statistical source?

You should be more specific. What do you mean by gambling percentage of total crypto-economies? Don't think any accurate statistic has been made yet. So it's actually hard to tell.

Adzino,

Point taken: I meant both in direct numbers (M or B's), and in a percentage of transactions for bitcoin. I believe that basically no gambling company have any significant volumes of etherum, dash, monero etc.

I fully agree: there is no accurate statistics on the subject-matter, but I read an article from coindesk, from March of last year that stated 15%, but they didn't list sources.  A general question, may be tricky to answer - do anyone know what methodology is used by the transaction tracking companies to peg a transaction as gambling? Bloom filters, address clustering?

Again, I'm trying to find accurate statistics that I can source reference, but I realize that it may be futile.

Thanks guys!

[mirakal]

Hello,

Don't know if this is the right forum, but what is the gambling percenatge of the total crypto-economies?  I read in some ICO document, maybe it was Betkings that it was 60%. I read 15% somewhere else.

Anyone know an accurate number and statistical source?

What you read are just pure estimate and we cannot determine what really are the exact number since gambling in crypto world is anonymous and anyone can create as many accounts as he want and just don't use afterwards. One thing that is certain mate is that the crypto gambling industry is having an impressive growth and when this continue we will have the majority of gamblers in the world adopting.

[erpbridge]

Its probably a big chunk of it. But impossible to figure it out. I believe the gambling subsection on this forum is the biggest part of the forum, and hence it probably implies that most of the people introduced to bitcoin do end up gambling some for the fun of it.

[Schuyler]

Hello,

Don't know if this is the right forum, but what is the gambling percenatge of the total crypto-economies?  I read in some ICO document, maybe it was Betkings that it was 60%. I read 15% somewhere else.

Anyone know an accurate number and statistical source?

As of now,for sure there is no accurate number of people using bitcoin. Whatever you read is only estimated number. Maybe today the number of bitcoin users is higher than your estimates because bitcoin is now better known and more investors.

[Oilacris]

Hello,

Don't know if this is the right forum, but what is the gambling percenatge of the total crypto-economies?  I read in some ICO document, maybe it was Betkings that it was 60%. I read 15% somewhere else.

Anyone know an accurate number and statistical source?

Theres no exact statistical status on this one and talking about Betking its indeed doing good thing in the past but i cant assume that most of the ratio would be come into it. There are lots of gambling sites which i believe that surpasses Betking. If you are pertaining on ICO side then i dont have much idea about it.