Can someone explain the trend of bitcoin casinos creating altcoins ?

[carlfebz2]

It can give benefits but the few ICOs with good intents wont hold up against the profit only ICOs may it be gambling or lets say a game token.
The old fashion invest btc is still the way to go if you trust the owner of the casino with your crypto.

Those are just temporal as i say.We have seen some ICO's that do based on on developing an online casino and making their own tokens but look at them now? If they didnt failed then they are less popular compared to those who do just solely accept bitcoin and top altcoins in the market.This is why i dont see the trend or casinos that do focus out with their alts if they do want to gain traction into the market.

[klaaas]

Invest in general without a smart contract behind it.
Maybe not now but in time we may be surprised what will succeed and in what form. : )
Crypto casinos these days who wants a smart contract with tokens for discounts or as playtoken will make it anyway without fundraiser. LUCKY as example.

[Bitcoinsummoner]

I think online casino's are creating their own altcoins, so more people will buy their coin when they will start to play in their online casino. They also want to have a good coin just like bitcoin and other altcoins, so for more people will play in their online gambling site. I also think by these kind of trend crptocurrencies will become more famous and more people will be more interested in playing in online casino.

It's true that online casino's creates their own altcoins, so that people will play their site and their coin could increase reach it's price high just like bitcoin.

A lot of online casino's who accepts bitcoin as payment really starts to create their own cryptocurrencies.

Along with bitcoin many casinos accepting reputed altcoin for example you may say they are ethereum, ripple, litecoin, Steller, bitcoin cash etc.

[ethereumhunter]

Maybe the devs and the teams would think that if their tokens related to gambling, it is better that they created a gambling website, attract the investor to their site while the investor can play gambling and make an investment in the same time. It would be better for the teams so they can get double profit from the project. Maybe it's like a new trend among the dev, and I think we will see many more like them that will launch in this month or next month.

[shoreno]

Maybe the devs and the teams would think that if their tokens related to gambling, it is better that they created a gambling website, attract the investor to their site while the investor can play gambling and make an investment in the same time. It would be better for the teams so they can get double profit from the project. Maybe it's like a new trend among the dev, and I think we will see many more like them that will launch in this month or next month.

The main reason why a token built is to have  a specific use  . so if a token is a gambling based token , its normal for the devs of those token to create a gambling site    .  but i dont see that this kind of idea are getting trendy or indemand  . i still see alot of popular casino and gambling sites that only accept btc , eth , bch and other top cryptos .

[n0ne]

I think online casino's are creating their own altcoins, so more people will buy their coin when they will start to play in their online casino. They also want to have a good coin just like bitcoin and other altcoins, so for more people will play in their online gambling site. I also think by these kind of trend crptocurrencies will become more famous and more people will be more interested in playing in online casino.

It's true that online casino's creates their own altcoins, so that people will play their site and their coin could increase reach it's price high just like bitcoin.

A lot of online casino's who accepts bitcoin as payment really starts to create their own cryptocurrencies.

Along with bitcoin many casinos accepting reputed altcoin for example you may say they are ethereum, ripple, litecoin, Steller, bitcoin cash etc.

This is common with each and every crypto accepted casino. The casino itself has a coin that is specifically developed to use on their website. These coins will give good circulation as it gets used regularly on the gambling websites. Apart from this the casinos give the users the chance to stake and profit. More we hold stakes will get us big earning on each bet won by the casino.

[Bitcoinsummoner]

If bitcoin  casino wants then they may create altcoin but that will not be valuable or popular if it cant be useful on other places for example use on other marketplace, shop etc. A coin should not create only self payment method. If they create only for self payment method then that will be valueless.

[KennyR]

If bitcoin  casino wants then they may create altcoin but that will not be valuable or popular if it cant be useful on other places for example use on other marketplace, shop etc. A coin should not create only self payment method. If they create only for self payment method then that will be valueless.

Most of the bitcoin casinos have come with the creating their own cryptocurrency. This is a way to have their own cryptocurrency on casinos. Some casinos provide with no fee on transaction when their own cryptocurrency is used. Using of own coin helps in generating more circulation to their own cryptocurrency.

[Vishnu.Reang]

Till date all the casinos which have wanted to raise money or have an invest feature used to do it by launching a casino accepting investments in bitcoins and charging a commission on bets.

But now I see casinos like  creating an altcoin, accepting investments and issuing tokens to be traded on an exchange and keeping all the money raised upfront in the ICO.

Isn't that scammy ? Why can't they just accept bitcoins as regular investments ?

Creating an altcoin requires a lot of time and effort. If these casinos and churning out alts or tokens without much effort, then it means that they are just distributing copycats. I would never invest in such coins or tokens.

[MakeMoneyBtc]

Casinos are a disguise for scammers in order to promote their altcoins. They know a lot of people are gambling and casinos that launch their website along with a new altcoin usually force people to buy their coins in order to use their website for gambling.

[ethereumhunter]

Maybe the devs and the teams would think that if their tokens related to gambling, it is better that they created a gambling website, attract the investor to their site while the investor can play gambling and make an investment in the same time. It would be better for the teams so they can get double profit from the project. Maybe it's like a new trend among the dev, and I think we will see many more like them that will launch in this month or next month.

The main reason why a token built is to have  a specific use  . so if a token is a gambling based token , its normal for the devs of those token to create a gambling site    .  but i dont see that this kind of idea are getting trendy or indemand  . i still see alot of popular casino and gambling sites that only accept btc , eth , bch and other top cryptos .

Yes, I think that using the token as the gambling bets will be the next trend because the devs can easily to create a new token to use in the gambling games. They can also try to register their token in the exchanges so they can get a double benefit because some amount of the token will be used for gambling games and the other amount for trading. And that will attract more investor to come to the project.