Is it worth using bitcoins anymore for gambling ?

[ReindeerOnMe]

I feel my bankroll management and savings all are highly unstable. Can go up or down by storing money in bitcoin to gamble. Some form of betting like poker requires good bankroll management and with value changing everyday, I don't see bitcoin as a good use for poker players and sportsbettors.

I don't see bitcoin like these, because most of the bitcoin I use is from some of my faucets, PTCs and advertisements that I made. I don't have any investments to start with because bitcoin has a lot of ways to offer to earn them.

[JL421]

No not at all i see on a site like yolodice a person with a loss of 28 btc and that's not a small amount at all with 28 btc I'm sure i will be able to survive for 24 months with a normal life the fact he was at 5 btc profit which is really good but he kep getting addicted and started losing big time. With 28 btc equalling to almost 80000$ that's surely not a less amount

[neochiny]

It bothers me too! so instead, I use other alt-coins and look for a site that offers games
which you can use your alt-coins, Idk, but I feel more relaxed when I play using alt-coin
instead of Bitcoin. I started doing this since the price of bitcoin reached $2k and have been doing
it ever since.

Using altcoin you have a choice to bet a smaller amount if you use altcoin but i think is it ok even to bet a 1 sat in bitcoin the present price is 0.00002666 cents so i think its still cheap to bet using bitcoin but if you really want to stay long in gambling altcoin is a good choice because you can be bet below 1 sat to altcoin smallest amount..
But its still worth it to gamble with bitcoin mostly for those who are always betting high amount and getting the benifits of the price increase of bitcoin..

I know that bitcoin is still worth to gamble but the USD exchange rate in our country is high making Bitcoin
for me too expensive for me to gamble and also Bitcoins price is increasing preventing me to risk any losses, and I
already have altcoins to gamble without worrying too much if I lost it or not. Maybe I'm just being paranoid
but being worried while gambling affects my decision making.

[wolfgang56]

I feel my bankroll management and savings all are highly unstable. Can go up or down by storing money in bitcoin to gamble. Some form of betting like poker requires good bankroll management and with value changing everyday, I don't see bitcoin as a good use for poker players and sportsbettors.

I think bitcoin  is not worth it to gamble. I treat bitcoin as a precious coin since it's quite expensive. I see bitcoin has a potential to increase its price bit by bit in future as the demand increases as time goes by. I think it would be better if we'll use bitcoin for trading na investing so we can take advantage of time.

[erpbridge]

I know that bitcoin is still worth to gamble but the USD exchange rate in our country is high making Bitcoin
for me too expensive for me to gamble and also Bitcoins price is increasing preventing me to risk any losses, and I
already have altcoins to gamble without worrying too much if I lost it or not. Maybe I'm just being paranoid
but being worried while gambling affects my decision making.

Bitcoin or altcoin. It has been the same thing. Both of them have been highly volatile and not a good thing to gamble with, specially if you follow strict bankroll management.

I think bitcoin  is not worth it to gamble. I treat bitcoin as a precious coin since it's quite expensive. I see bitcoin has a potential to increase its price bit by bit in future as the demand increases as time goes by. I think it would be better if we'll use bitcoin for trading na investing so we can take advantage of time.

If you use bitcoin for trading(altcoins), it is still the same dilemma.Unless you mean just trading bitcoins.

[Aikidoka]

Yes, it is worth using bitcoin for gambling. As a matter of fact, if you do not have real money, you can use bitcoin instead. However, I recommend not using all of your bitcoins. Save as much as you can because the bitcoin price is growing higher and higher. So, do not waste your time and bitcoin on gambling because you will regret it sooner or later.

[okissabam]

If you really are into gambling I don't think you would really care if bitcoin is worth using for gambling. Because as long as you can profit from gambling then it's still good to go. That just my own interpretation of being a gambler myself before.

[erpbridge]

If you really are into gambling I don't think you would really care if bitcoin is worth using for gambling. Because as long as you can profit from gambling then it's still good to go. That just my own interpretation of being a gambler myself before.

So recently I had close to 3 btc on my bankroll after gambling for about an year. The value one month back was close to $7500. When the price dropped to 1800$ recently, the effective value came down to around $5400. I liquidated some of the amount. But that 2.1K drop was a lot for me to handle.

You might say that I can cashout after every bet. But then I will be giving up a big value in fees, and a lot of times I need to make a bet of a few hundred dollars.

[Mike Mayor]

I feel my bankroll management and savings all are highly unstable. Can go up or down by storing money in bitcoin to gamble. Some form of betting like poker requires good bankroll management and with value changing everyday, I don't see bitcoin as a good use for poker players and sportsbettors.

What are you even talking about ? What difference does it make what you okay with ? As long as it has value it doesn't matter what you gambling with. Bitcoin is not good for poker or betting because it goes up and down ? Are you serious ?

Ok then go to a fist betting site see if you prefer it and let us know.

[bering]

indeed the value of your bitcoin will be change because it will following the price of movements for bitcoin itself but i think most of gamblers will not really care about the value of bitcoin because as long as they still can gamble i think they will never thinking the value of bitcoin but if you aren't sure gamble with bitcoin because the value always be change then i suggest if you won gamble convert all of your bitcoin immediately to dollar because it can be avoid change in value

[marlboroza]

I feel my bankroll management and savings all are highly unstable. Can go up or down by storing money in bitcoin to gamble. Some form of betting like poker requires good bankroll management and with value changing everyday, I don't see bitcoin as a good use for poker players and sportsbettors.

Why not?
For example your bankroll is 100$ so with good bankroll management you will be able to play 2$ buy in tournaments.
100$ is something around 0.035BTC so you will play 0.0007BTC buy in tournaments.
If bitcoin price raise to $10K, your bitcoin bankroll will still remain 0.035 and you will still play 0.0007BTC tournaments, only thing which is different is that your balance will be higher in value, so in this scenario you could withraw 1/3 your money and you could still play 2$ buy in tournaments, which will now be 0.00025BTC.
If bitcoin goes down with value, well, you can play 0.0007BTC tournaments but their value will be smaller, but your bankroll in bitcoins will remain the same.
But isn't all that the risk of bitcoin itself?

[Oilacris]

Bitcoin will surely increase or decrease its price but still it primarily depend its price ito usd which you can anytime adjust the best if you do really like to just the thing you are doing wayback before on playing  gambling. If you are basing on an amount based on satoshi value then it would really be more if you do decide to stick on that way but if you want to adjust basing on dollar form then its possible which means its still worth for bitcoin to be used on gambling.

[dmamigo]

Yes ofcourse, but it depends on usage opportunity of Bitcoins or any other cryptos or fiat.
As for me, I f I indulge in sports related gambling, I can do it via fiat, but basically dice, poker, blackjack needs to be played using Cryptocurrency, Bitcoins and in many cases few altcoins as well.
There are very few gambling sites with limited to few types in my country, so have to use Bitcoins anyhow, if I want to gamble.

[erpbridge]

I feel my bankroll management and savings all are highly unstable. Can go up or down by storing money in bitcoin to gamble. Some form of betting like poker requires good bankroll management and with value changing everyday, I don't see bitcoin as a good use for poker players and sportsbettors.

Why not?
For example your bankroll is 100$ so with good bankroll management you will be able to play 2$ buy in tournaments.
100$ is something around 0.035BTC so you will play 0.0007BTC buy in tournaments.
If bitcoin price raise to $10K, your bitcoin bankroll will still remain 0.035 and you will still play 0.0007BTC tournaments, only thing which is different is that your balance will be higher in value, so in this scenario you could withraw 1/3 your money and you could still play 2$ buy in tournaments, which will now be 0.00025BTC.
If bitcoin goes down with value, well, you can play 0.0007BTC tournaments but their value will be smaller, but your bankroll in bitcoins will remain the same.
But isn't all that the risk of bitcoin itself?

Well that is if you play a tournament and this only accounts for the buy in. But if you are playing just cash games or win a tournament. Then unless I cashout that btc into fiat immediately, that value could appreciate or depreciate based on Bitcoins price.

[CORNEL]

I'm saving my bitcoins for upcoming rally some strong charts are showing price will boost up to 6k before end of this year. I think it's not worth to keep losing of my hard earned money just for hope to get doubled in short time of period better we keep eye on next rise.

[equator]

I feel my bankroll management and savings all are highly unstable. Can go up or down by storing money in bitcoin to gamble. Some form of betting like poker requires good bankroll management and with value changing everyday, I don't see bitcoin as a good use for poker players and sportsbettors.

I dont think that the gamblers will see the bitcoin price and gamble. Even in bankroll management also you dont see price but how much bitcoin you are betting is only calculated. So what you are telling are not the correct way of using bankroll manage in sports betting or poker betting also. Bankroll management only see that how much bitcoins you invest and how you are splitting them and betting it.

[coolcoinz]

If you really are into gambling I don't think you would really care if bitcoin is worth using for gambling. Because as long as you can profit from gambling then it's still good to go. That just my own interpretation of being a gambler myself before.

So recently I had close to 3 btc on my bankroll after gambling for about an year. The value one month back was close to $7500. When the price dropped to 1800$ recently, the effective value came down to around $5400. I liquidated some of the amount. But that 2.1K drop was a lot for me to handle.

You might say that I can cashout after every bet. But then I will be giving up a big value in fees, and a lot of times I need to make a bet of a few hundred dollars.

Why would you convert to fiat? It really doesn't matter what the price is, it's all in your head. If you gambled 2 years ago with a fraction of a coin and ended up with 3 BTC it means you're good at this and the price shouldn't be a deterrent for you. Yes the price has dropped for a week or two but now it's back up, the holders and those who don't give a shit about bitcoin's value in USD win.

[erpbridge]

Why would you convert to fiat? It really doesn't matter what the price is, it's all in your head. If you gambled 2 years ago with a fraction of a coin and ended up with 3 BTC it means you're good at this and the price shouldn't be a deterrent for you. Yes the price has dropped for a week or two but now it's back up, the holders and those who don't give a shit about bitcoin's value in USD win.

I am sure you wouldn't have said this, if the price instead of going up to 2800 had gone down to lower 1000s. Anyways I needed the money and I wasn't willing to take the risk with bitcoins rollercoaster. But that is exactly my point. You do have to take in another gamble with btc prices.

[PokerFace3]

Most of the gamblers using Bitcoin because of the anonymity, and I don't see any problems regard to the volatility, if the price go up then I just bet smaller and if going down I bet bigger, it is just the matter on how you manage your bankroll, fluctuating is going to affect on your gambling bet but you still can play and enjoy your gambling

I agree people use bitcoin casino to avoid social conflicts which may rise due to certain reasons such as the underage people involved in gambling and people with families or in relations may keep it secret so they use bitcoin casinos which are anonymous. Also bankroll can be affected even when you are not gambling at a time. The bitcoin price volatility have its effect either positive or negative when converted into fiat.

[romero121]

Most of the gamblers using Bitcoin because of the anonymity, and I don't see any problems regard to the volatility, if the price go up then I just bet smaller and if going down I bet bigger, it is just the matter on how you manage your bankroll, fluctuating is going to affect on your gambling bet but you still can play and enjoy your gambling

I agree people use bitcoin casino to avoid social conflicts which may rise due to certain reasons such as the underage people involved in gambling and people with families or in relations may keep it secret so they use bitcoin casinos which are anonymous. Also bankroll can be affected even when you are not gambling at a time. The bitcoin price volatility have its effect either positive or negative when converted into fiat.

Yeah, there are social conflicts with the underage issues and in reality even with gambling websites operating on fiat with fake identity one can make use of it avoiding age conflicts. I have started using bitcoin for gambling years back and soon after that I stopped using fiat for the same. This is all because of the ease of access and the real time settlement of bitcoin in a short which is not that effective with fiat. This gives a confirmation that bitcoin is worthy for gambling.