Is it worth using bitcoins anymore for gambling ?

[vennali]

Yeah, I use only BTC to gamble right now and even if I use the other alts, my site converts it into BTC before I start gambling. I see that betting on sites like directbet wouldn't be much feasible because of the growing transaction fees and confirmation delays but all the other sites that accept deposits have been doing pretty well.

[gon]

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.

Nothing changed.
You just need to accept that your bankroll is in BTC and never compare its USD value.

E.g. if you have 1BTC roll, then 1% is exactly 0.01BTC, not its USD value from yesteday nor today.

Imagine you are gambling with Chinese yuan for example. Once you bought the yuan's, you have yuan's. Not USD.

[passwordnow]

It is still worth it, there's no adjustment from the gambling sites. It's in favor of them when the price of bitcoin is increasing. But the minimum and maximum betting size will not change. If you don't want to gamble in bitcoin then stop gambling.

[FrueGreads]

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.

The only thing you can do is ignore BTC price all together. You have a bankoll value in BTC (whatever that is), and you just use a % of that bankroll. That will not affect your bankroll management since it will all be done as if the coins only represented themselves, and had no $ value. You will lose or win money when the price fluctuates, but that will always happen when you are holing BTC, and there is nothing to do about that.

[audaciousbeing]

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 any issue here whatsoever because whether price increases or falls, the 1btc put into gambling bankroll still remains intact aside from those reduction that might come as a result of those winning but they are also gambling with btc which means it does not affect anything. I think where we all get it wrong is seeing btc in relative term to its worth in dollars to determine whether the fund is increasing or decreasing.

[Juggy777]

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 quite don't get what you mean by your words, but for me betting with my bitcoin is perfectly fine, sometimes the fees do make me think but then I increase my bets so I can earn higher and make more money, plus it's easier to hide my earnings and be safe with Bitcoins, rather than with Fiat I am at a big risk, and I don't like that, they leave a paper trial and it's get risky, with Bitcoins I play behind a mask, a number and they can't reach me or link the money to Bitcoins so I prefer that.

[flower1024]

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 any issue here whatsoever because whether price increases or falls, the 1btc put into gambling bankroll still remains intact aside from those reduction that might come as a result of those winning but they are also gambling with btc which means it does not affect anything. I think where we all get it wrong is seeing btc in relative term to its worth in dollars to determine whether the fund is increasing or decreasing.

of course, the value of the bitcoin is matter. for suppose if the value of the bitcoin is $1 will you place your bet 0.01 BTC or 1 BTC? The gamblers will bet bitcoins, but before placing any bet, they calculate how much value of BTC they are going to bet. Now I think it is not worth to play gambling with your bitcoins. Becasue it is too expensive.

[emberbekas]

i think there's should no issue about your bankroll management even bitcoin value keep fluctuating because your base is your bitcoin money
so you can still manage the amount of your bitcoin to bet and you can still enjoy the only thing that i'm thinking is when you are buying bitcoin
so it will be hard when you buy it with high value and withdraw it when the value fall down.

But the real world value isn't in bitcoin but in fiat. When I wish to use that money I would eventually be converting it to fiat and will be risking volatility to destroy my bankroll or perhaps make it more. But either way, it becomes a gamble.

Nowadays, 0.01 BTC could be a good amount if we converted it into fiat. The other challenge comes to us, whether we will convert it now or hold it till some period of time. As you said, this become new type of gambling for us. But for myself I prefer to pick the middle way. Convert small part of our bitcoin and hold the other part for future use.

As the price move up significantly, I saw a lot of gambling sites, sportsbooks for example, already adjust their min betting to reflect the price changing. Hence, this shouldn't affect our money management.

[betMaster]

Definitely not !
BTC value can greatly change in a very short periode of time .
You can end up loosing a lot more than you win.
Using real currencies is better i guess .

[moviebuff777]

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.

You can vary the amount of bitcoins you bet with if the price changes. In general I agree that it's not wise to waste a large amount of your bitcoins on gambling.

Gambling is most likely going to cause you to lose money so if bitcoins become very valuable in the future, any losses are greater down the road. I just gamble with very small amounts so I don't lose too much.

[nidacoinlove]

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

Yes due to the reason that gambling is not considered as a good habit in the society most of the gamblers use bitcoin to hide their identity so that they don’t come across any social problems. However when they don’t want to expose themselves as a gambler they go for bitcoin gambling sites which are quite easy to use without any hesitation. In such cases the bankroll doesn’t matters at all.

[LevshaK1]

I believe that bitcoin should not be used for gambling, because there is a huge risk of losing coins. This is an excellent opportunity for investment, but not for gambling.

[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 don't think so. Perhaps, you are pertaining on the games itself but not bitcoin as currency for that game. Bitcoin is the easiest for people to gamble instantly and trade easier without making too much understanding.

[boranes]

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 difference does it make to you?
Suppose you are gambling with money you can afford to lose, bitcoin is money so you are gambling with bitcoins you can afford to lose.
I don't see difference here between gambling with btc or money.

[Dontme]

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's with you? The value is actually the same. It is only the situation that bitcoin has ups and down but actually the decision to take bankroll is in you. When it is in down then it is time for you to lower your bet, the kind of management of bankroll. BTC is always the same as dollar when you stored dollars their is possibilities that the economy will crush too. It is you who manage your bet not the btc will manage your bet. Bitcoin is worth for gambling.

[SONG GEET]

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.

You are not losing anything if you keep betting with constant bet size in the form of bitcoin you will ultimately have more in terms of fiat because bitcoin price always tends to increase over time. 

[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.

[molsewid]

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 think so. Perhaps, you are pertaining on the games itself but not bitcoin as currency for that game. Bitcoin is the easiest for people to gamble instantly and trade easier without making too much understanding.

It depends on what currency and type of gambling you actually play it is a part of bitcoin itself that the price goes down or goes up how people can earn from trading when the price is stable think of that. Also if theres no decrease and increase in bitcoin how can you make your profit become higher tho. wofgang is correct gambling is the easiest way to play with gambling without hassle.

[socks435]

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..

[dhampir-D]

In some countries this practice is illegal using fiat currency, so Bitcoin (and some alts) are the only option they have.