Does crypto market decline affect your gambling?

[axicron]

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with. Is it affecting your gambling?

[1715402616]

1715402616

[Tipstar]

It does in some ways. Though buying bitcoin itself is a gamble and you are gambling the the gambling token. Your profit and loss should be considered along BTC is BTC gambling and the fluctuation in USD should be measure with your amount of Bitcoin bought.

[samcrypto]

Of course you can only be affected if you are using cryptocurrency on your gambling but if its not you can still do it no matter what status of the market is. I tried to gamble online once using btc and I think those who are used to gamble with bitcoin are the one who are truly affected by its value and also with the fees right now.

[13abyknight]

Is it affecting your gambling?

It's quite an obvious that fluctuation in altcoin prices has a significant impact on the gambling activities of any gambling individual. With the current prices, gamblers tend to push a bit higher than they would've a month ago, just to get those extra bucks before cashing out as lower price means higher coins to be obtained before withdrawing.
As fees has plummeted to very low amounts, seems like withdrawal fees on various sites has dropped down to negligible value, which is the only boon from a gambler's perspective.

[Juggy777]

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with. Is it affecting your gambling?

Sadly it does, ever since I started to gamble with bitcoins I decided not to trade with Fiat, and this was helping me continue my gambling addiction and yet saving on Fiat. However as the prices have tumbled its no longer feasible to play with bitcoins, I'm spending to much plus the fees to is a big issue. However I believe as the prices shall rebound we shall see a huge demand back, just a minor setback.

[vintages]

Sort of. As a gambler who also knows the worth of  every of his Satochi, with this dip price of bitcoin, I am somehow skeptical of playing with double of the satochi I used to play with before. Knowing fully well that the amount of that satochi is higher when the price pumps back. But I keep on playing though, cause if you love and know your Game, a few coin might earn you a double of it. Moreover, this dip might not last forever.

[tokeweed]

And notice how the activity around the gambling section have gone down this past couple of weeks.  I guess it's either most people have converted to fiat or yeah, the crash affected their gambling habits fo sho.

[milewilda]

And notice how the activity around the gambling section have gone down this past couple of weeks.  I guess it's either most people have converted to fiat or yeah, the crash affected their gambling habits fo sho.

I noticed it too which activity is less compared on previous months where price of bitcoin and altcoins is still on higher prices.People wont tend to play as of these days and they would either choose up to invest or buy cheaper altcoins and accumulating while its still cheap rather than on spending it on gambling. It will recover soon once market would settle.

[hoppus]

For me it has an impact if I want to cash out early. So I have to change my bets according to the coin price.
But if not, if I'm looking on a long term betting, I keep my unit bet size the same all the time.

[eternalgloom]

Well yeah, it does affect my bet sizings on certain games I play, but other than that, no.
I think the amount of fees I'd have to pay to send a deposit has more of an affect than the sudden drop in price.

I had switched over to Litecoin for the most part, just because transactions were so slow and fees were too high for my taste.

[chris200x9]

It does in some ways. Though buying bitcoin itself is a gamble and you are gambling the the gambling token. Your profit and loss should be considered along BTC is BTC gambling and the fluctuation in USD should be measure with your amount of Bitcoin bought.

Buying bitcoin is not a gambling but it is a highly volatile investment. Gambling means playing some games for enjoyment purpose but your buying bitcoins to make a profit.

I don't think bitcoin prices will have much impact on gambling but because of its transaction prices has come down a lot and transaction become faster which surely increase bitcoin gamblers.

[crypto1010]

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with. Is it affecting your gambling?

of course it is...I use to win 100 dollars easily as i new 0.01 btc was valuable now it means i need down the luck to make as much as i made but the market is slowly recovering made i won't have to work extra hard to make some profit

[Pleione527]

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with. Is it affecting your gambling?

For me yes especially that I use bitcoin in gambling. The amount of my capital increase since I need to target an specific amount of winnings, I need to bet mire bitcoin to earn more and I think the moment I lose some at this lower rates bitcoin has is as if I lose twice in an instant. Sometimes I think I should not gamble until tge market stabilize again.

[mrcash02]

It's affecting everyone, and there is a good point behind it. With the drop in Crypto market, people are using more coins to gamble, so there are more coins in circulation on the casinos, more coins being moved. I don't know if casinos exchange their coins into fiat often, if so, the supply on the market will increase, pushing the prices down a bit more, but seeing this, investors will start buying the cheap coins, pushing the demand up and consequently the Crypto market's prices. If the prices must decrease to increase the demand next, let it be.

At some point Crypto market will affect your gambling game the opposite it's affecting now...

[tabas]

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with. Is it affecting your gambling?

Yep it affected my gambling practice and I find it negative because before when bitcoin is on ATH. I can gamble with fewer bits because the value is really high. That's why I need to take some rest and while waiting for the price to increase I'm sticking to apps and games so I can play gambling games for free. And when the price starts to be healthy and goes back on ATH then I gamble some bits again.

[Siopao]

If someone uses bitcoin for gambling, of course the decreasing value does affect. Ifnthe value is at low point yhe gambler will have to use a lot of btc but with lower price. So it means that the gambler will use bigger capital than what he spent during the high peak of btc.

[roxbit]

If someone uses bitcoin for gambling, of course the decreasing value does affect. Ifnthe value is at low point yhe gambler will have to use a lot of btc but with lower price. So it means that the gambler will use bigger capital than what he spent during the high peak of btc.

Yes It does affect because as the price of cryptocurrencies fall many gamblers online started to lessen their bet since the value is lower. Compared to previous months where online gambling is very crowded where gamblers are actively gambling online.

[FrueGreads]

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with. Is it affecting your gambling?

Of course not, why should it affect your gambling? For me there is a very important thing that you need to do when you gamble. You need to define your gambling bankroll, that basically states what you are willing to lose. You can do that in two things, either by defining your bankroll in crypto, and keep using that, so it doesn't matter if the value increases of declines, because you are using a crypto bankroll. Or you can define it in fiat, even though you use crypto.

If you chosen the second method then it should only have an impact on your gambling habits if the price went up. You convert $500 to crypto, and the price goes up and you now have $1k worth of crypto. I think you should withdraw half, since you decided that you would only risk $500. If the crypto price falls, and your bankroll is now worth $250, I think you shouldn't do a thing. The price will most likely bounce back, so you should continue to gamble the same way. By doing this, you will be sure that you are never risking more than you can afford to lose.

[MinerHQ]

Yes It does affect because as the price of cryptocurrencies fall many gamblers online started to lessen their bet since the value is lower. Compared to previous months where online gambling is very crowded where gamblers are actively gambling online.

I think your talking opposite way because if bitcoin prices go down you can see many people who are buying bitcoins to gamble will bet more compared to when prices were high. If Bitcoin prices go very high then most people may think twice to spend money to buy and gamble. But people who have got old stock may be different and they won't look at the market price to gamble.

[Pursuer]

Yes It does affect because as the price of cryptocurrencies fall many gamblers online started to lessen their bet since the value is lower. Compared to previous months where online gambling is very crowded where gamblers are actively gambling online.

I think your talking opposite way because if bitcoin prices go down you can see many people who are buying bitcoins to gamble will bet more compared to when prices were high. If Bitcoin prices go very high then most people may think twice to spend money to buy and gamble. But people who have got old stock may be different and they won't look at the market price to gamble.

this is only true if the price is already low and staying there, not when it is dropping and on the way down there. during the drops or even rises people tend to go back to trading and being more active in the market itself specially if it is dropping so they pull out of any other activity such as gambling.