How can online casinos Pay it forward?

[Kprawn]

The Brick n Mortar casinos in my area are very involved with sponsoring large events and hosting large tournaments not

relating to gambling. {Sport / Chess tournaments etc.} It is part of their licence agreement to be able to operate in our

country. They have to "Pay it forward" by ploughing something back into the community, where they are located.

The online gambling scene has no obligation to do anything like this and most operate without a license, so there are no

incentive for them to "Pay it Forward"

So, I want to ask these casinos if they can willingly sponsor some Bitcoin events or some advertising campaigns to increase

Bitcoin awareness, to increase adoption. Bitcoin cannot grow without someone actively funding marketing campaigns or

events to increase awareness. They can even fund Bitcoin start-ups that shows promise and which would increase adoption.

There are millions of gamers out there for instance that would participate in online gaming tournaments, if they sponsored

big prizes for these tournaments. <They can host eSport betting on these smaller tournaments to get back some of their

sponsorship money>

So what do you think, would these online casinos be willing to do this?   

[Don Pedro Dinero]

This is the most interesting post I’ve seen on this board in months. Crypto casinos make loads of money, you only have to see their crypto addresses and stats.

You talk about online casinos operating without licenses but I think most of them do, especially online fiat ones. What happens with they crypto ones is that they get a license in a tax haven and accept people from regulated countries, where they should get another license to do so.

I’m not really sure how they would engage in pay it forward activities, but I think if the idea gets spread some of them will do. Helping to promote bitcoin and cryptos would be giving back to crypto society part of their profits as being grateful, which, in turn, could lead more people to crypto casinos as well.

[Pearls Before Swine]

I'm not sure what the brick & mortar casinos do in my area, but they're all owned by native Americans and they get tax breaks up the wazoo, so they're not even giving back in the form of taxes a normal business would pay.  I've no problem with that, given the history of the US, but I don't think they specifically "give" anything back.  They are inherently a boon to the local economy in the form of the jobs they provide and the money they spread around because of their operations.

But online casinos?  I think I've written about this before.  They are the least likely to give anything back.  Not even to the local economies like what I just mentioned with the NA casinos.  They are out for themselves and I think most of them operate outside the law, and you're lucky if you even know what country a given casino operates in.  So a big NO here.  I don't think they'll do anything like that.

[Kprawn]

This is the most interesting post I’ve seen on this board in months. Crypto casinos make loads of money, you only have to see their crypto addresses and stats.

You talk about online casinos operating without licenses but I think most of them do, especially online fiat ones. What happens with they crypto ones is that they get a license in a tax haven and accept people from regulated countries, where they should get another license to do so.

I’m not really sure how they would engage in pay it forward activities, but I think if the idea gets spread some of them will do. Helping to promote bitcoin and cryptos would be giving back to crypto society part of their profits as being grateful, which, in turn, could lead more people to crypto casinos as well.

Exactly, the money "donated" and "sponsored" will eventually end up in their pockets again, because these initiatives will

increase adoption and with increased adoption comes possible increased gambling and more profits for them. I cannot see

why these casinos cannot pay something back into the Bitcoin community? Yes, Fiat casinos is not necessarily the people I

am directing this to, I was more thinking of the online casinos that use Bitcoin. {or BTC and other Alt coins} Why should

they milk money from the Bitcoiners and have no community involvement?

[Kprawn]

I'm not sure what the brick & mortar casinos do in my area, but they're all owned by native Americans and they get tax breaks up the wazoo, so they're not even giving back in the form of taxes a normal business would pay.  I've no problem with that, given the history of the US, but I don't think they specifically "give" anything back.  They are inherently a boon to the local economy in the form of the jobs they provide and the money they spread around because of their operations.

But online casinos?  I think I've written about this before.  They are the least likely to give anything back.  Not even to the local economies like what I just mentioned with the NA casinos.  They are out for themselves and I think most of them operate outside the law, and you're lucky if you even know what country a given casino operates in.  So a big NO here.  I don't think they'll do anything like that.

They are not likely to do this, because they do not normally have an incentive to do it. If we can give them a reason to do

 this, where they can benefit... then they will do this. How do they benefit... well, they benefit from this through the exposure

that they get from this {advertising} and also the increase of adoption {gamers participating in the tournaments} and most of

them can still stay anonymous, if they are operating illegally. {The community arrange the tournaments and they just offer

Bitcoin prizes for the events and the tournaments.} This is a WIN/WIN scenario for all involved.  

[Rinsend]

when talking about sponsoring and opening a campaign, it seems every gambling site has its own way of doing it. although in fact any promotion in the end will return to their hands and unknowingly they will reap a lot of benefits from the players, especially for those who do not have licenses and only cut a few percent of the income they can to sponsor and open a campaign

[milewilda]

So what do you think, would these online casinos be willing to do this?   

Depends on their own view and whose the one would able to propose such thing to them or the person who would explain or do give an idea.The fact here is that they do follow on what government do require them whe we do talk about giving something back to the community which wont really involve  gambling and been said above its on chess and sports tournament. Promoting bitcoin would be a good idea but the main issue here is that if the government would allow such thing to be done on that particular place?

[boy130]

They do pay it forwards by simply existing. Online casinos were one of the first major adopters of cryptocurrency, and hence they are part of the reason why Bitcoin and other cryptocurrencies became as famous as they are today. Without Bitcoin casinos, we might have never seen the surge in interest that we saw in its early stages. I think the best way for them to continue to do this, is to keep up with the latest trends, e.g. segwit wallets and accepting new altcoins.

[Wendigo]

They 'pay it forward' by starting signature campaigns and tipsters tournaments on the forum 

[Kakmakr]

They do pay it forwards by simply existing. Online casinos were one of the first major adopters of cryptocurrency, and hence they are part of the reason why Bitcoin and other cryptocurrencies became as famous as they are today. Without Bitcoin casinos, we might have never seen the surge in interest that we saw in its early stages. I think the best way for them to continue to do this, is to keep up with the latest trends, e.g. segwit wallets and accepting new altcoins.

I strongly disagree with you on this. We do not want these casinos to pay it forward by adding more Alt coins.  That will just sabotage Bitcoin adoption, because money will flow towards Alt coin investments and not Bitcoin. ^grrrrr^

The unlicensed Bitcoin Casino industry are flying under the radar and not pumping anything back, because they are too busy making huge profits. I agree with the OP that it is time for these people to step up and to contribute something positive to the Bitcoin eco system/network.

They have little or no expenses <Building maintenance / security / salaries / equipment repairs etc.>, compared to these physical casinos. ^hmmmmm^

Just give something back to the hand that feeds you.     

[eternalgloom]

The problem is that these brick & mortar casinos are only paying it forward, because they are required to do so by law.
I know that there are a lot of charity-giving people in the crypto community, but I doubt that casino owners are among them.

I would think that they think about profit in the first place, so they would most likely not give back to the 'community' unless there was something in it for them.

[buwaytress]

The problem is that these brick & mortar casinos are only paying it forward, because they are required to do so by law.
I know that there are a lot of charity-giving people in the crypto community, but I doubt that casino owners are among them.

I would think that they think about profit in the first place, so they would most likely not give back to the 'community' unless there was something in it for them.

Finally, someone who understands how the world works. There are so many reasons why "paying it forward" isn't just an option but a necessity for businesses viewed as vice, and altruism isn't one of them!

1. Better known as corporate social responsibility, these actually qualify for tax breaks in any country almost. Casinos write off huge amounts of tax simply by diverting revenue to CSR. They get free marketing from it too, so it just makes business sense.

2. Access to otherwise closed markets. Casinos couldn't possibly advertise in parks and community areas without lengthy approval, probably also costly. Social campaign sponsorships is the proxy way in. How else do you get your ad up in a hospital, playground, even church?

If crypto casinos could consider or want to consider these, they'd go that way.

[nydiacaskey01]

Traditional casinos can claim for a tax deduction if the donations are made to a charitable institutions that are recognized by the Government (there's a minimum amount that they can donate to claim), so paying it forward is more like it works for them too. Furthermore, I don't think one online casino would step up to plate and start this "pay it forward" thing because once they do this will expose them with their identities and their whereabouts and of course whats in it for them if they do it?

[Kprawn]

The problem is that these brick & mortar casinos are only paying it forward, because they are required to do so by law.
I know that there are a lot of charity-giving people in the crypto community, but I doubt that casino owners are among them.

I would think that they think about profit in the first place, so they would most likely not give back to the 'community' unless there was something in it for them.

There is something in it for them. When you are the main sponsor of a Bitcoin event, you get prime advertisement for your

business and you build Brand recognition. You also increase adoption by sponsoring large tournaments. The biggest Casinos

are offering Sports betting & eSport betting services, so they can even host a online gaming tournament with the help of the

community and gain new gamblers that would be betting on the outcome of these tournaments. The Bitcoin gambling and

online gambling scene is very competitive, so things like this will set it apart from the other 100's of casinos out there. I can

already envision a Bustabit or PrimeDice sponsored global online gaming tournament.   {Arranged by the community and

funded by the casinos}    The games can be streamed live with advertisements all over the place and people betting on

the games.  

[orions.belt19]

This is the most interesting post I’ve seen on this board in months. Crypto casinos make loads of money, you only have to see their crypto addresses and stats.

You talk about online casinos operating without licenses but I think most of them do, especially online fiat ones. What happens with they crypto ones is that they get a license in a tax haven and accept people from regulated countries, where they should get another license to do so.

I’m not really sure how they would engage in pay it forward activities, but I think if the idea gets spread some of them will do. Helping to promote bitcoin and cryptos would be giving back to crypto society part of their profits as being grateful, which, in turn, could lead more people to crypto casinos as well.

It’s likely that most online casinos don’t have licenses so OP’s suggestion as plausible and also beneficial for both parties.

Perhaps a good way to engage in the pay it forward activities would be to make the participants promote crypto in some way such as sharing in facebook or tweeting. In a way, this would contribute to spreading awareness about crypto or bitcoin.

[minhhien9xcb]

Perhaps a good way to engage in paid activities would be to make the participants encrypt the encrypted way in a certain way such as sharing in facebook or twitter...

[JL421]

This is the most interesting post I’ve seen on this board in months. Crypto casinos make loads of money, you only have to see their crypto addresses and stats.

You talk about online casinos operating without licenses but I think most of them do, especially online fiat ones. What happens with they crypto ones is that they get a license in a tax haven and accept people from regulated countries, where they should get another license to do so.

I’m not really sure how they would engage in pay it forward activities, but I think if the idea gets spread some of them will do. Helping to promote bitcoin and cryptos would be giving back to crypto society part of their profits as being grateful, which, in turn, could lead more people to crypto casinos as well.

I actually find this dumb i mean i understand that casinos do make a ton lot of funds but in general spending money to advertise bitcoin isn't the right thing , they should instead spend that moeny on maybe opening a regulated exchange in the country they are promoting in

[Shenzou]

This seems like a very good idea to both promote bitcoin and get more people involved in it and also to promote the online casino and make it more popular, but as you said these bitcoin casinos these days, operate without license and under unknown terms or even they might be offshoring their profit and since it is just something not mandatory and they are not obligated to do then i don't think they would bother doing them, and also i think they are better of promoting their site in other ways like signature campaigns here for people who are actually interested in bitcoin, than losing money on events that will less likely bring them more customers.

[Devawnm367]

I personaly believe one way that online casinos could pay it forward, is they could do either weekly or monthly drawings with a certain %of the weekly/monthly proffits. Say giveaway 7%  of 13 btc, (13 btc being your proffits), give it away to 10 people thats a total of 0.91 btc ÷ by 10 randomly drawn names =

0.0901 btc per person for that week or month with 10 random selections

[Kakmakr]

I personaly believe one way that online casinos could pay it forward, is they could do either weekly or monthly drawings with a certain %of the weekly/monthly proffits. Say giveaway 7%  of 13 btc, (13 btc being your proffits), give it away to 10 people thats a total of 0.91 btc ÷ by 10 randomly drawn names =

0.0901 btc per person for that week or month with 10 random selections

No business will just give away money for free, without them getting something in return. Even donations are done in a public setting for maximum exposure and to advertise their generosity. 

If they want to give away money, then they could launch a competition where they sponsored the prizes. An idea that comes to mind is a competition where users on the forum could create a short video that would advertise their casino on Youtube. <something that might go viral and give free advertising for their casino>

They can also go the Pineapple route and just give it away, but then they get nothing in return.