Fiat or crypto betting in bear market?

[SyGambler]

the thing with bitcoin gambling is that you are actually gambling twice , the first time on the event you placed your bet at and the second one is the price of bitcoin
it's so damn hard to be professional and bet with bitcoin at this condition , so I would say serious bettors should be tending to bet with fiat these days
when the price is more stable then there is no harm in betting with bitcoin , usually when the market is stable I bet both fiat and crypto ( depending where I find higher odds )

but also some people are trying to make more bitcoin , for example they have 1 btc and they want to double it in one year no matter what the price is since they aren't planning to cashout the winnings or trade this 1 btc
these people should stick to bitcoin betting , so if they are good with their selections they will achieve their goal of having more btc

so there  is no perfect answer , but if someone lives from gambling then for sure it's so hard to bet with bitcoin these days since both profit and bankroll are fluctuating in crazy swings 

[kryptqnick]

Do you guys keep betting with crypto and stack your crypto profits or do you prefer to switch to fiat betting and convert fiat winnings in crypto?
 I love to bet on sports, fiat as well as on crypto platforms. However during the crash I switched to betting on fiat bookies for 90% of my bets.
Profits i make at this moment with fiat bookies i use to buy crypto cause of the cheap prices. those converted profits i deposit on crypto bookies and try to make some profits in crypto as well.

The market is currenly very ustable. This means that one can lose more because of the price drop than win from betting. It doesn't make sense to risk that much. The price is freaking me out and everytime I see it, it only gets worth.. I think it's best to bet using stable coins or fiat for now. If one is a big crypto believer, however, I guess it makes sense to bet in cryptos now, hoping to win some more cryptos and then hold them until the prices recover. Fiat offers stability, cryptos offer risks and opportunities. I don't really gable for profit and don't spend much money on it anyway, so to me it doesn't matter much.

[btcdevil]

I dont care about price of crypto in gambling , as i am earning free bitcoins i use them for betting but as their are less crypto sports gambling sites which offers live inplay betting on cricket so i have to go with fiat currency for cricket betting apart from that other sports bets i do with crypto currency. If i win in cryptocurrency their is double profit. One is i win the bet and my cryptocurrency volume gets increased and if the price moves up that will be added bonus profit on it.

[sweetbet]

I prefer to gamble with flat because I'd hate to gamble with a crypto that pumps x2plus after I spend it

[drlukacs]

Want your opinion on this guys.

We are situated in a bear market for some time and with a huge crash happened the past 2 weeks.

Do you guys keep betting with crypto and stack your crypto profits or do you prefer to switch to fiat betting and convert fiat winnings in crypto?
Me personally I love to bet on sports, fiat as well as on crypto platforms. However during the crash I switched to betting on fiat bookies for 90% of my bets.
Profits i make at this moment with fiat bookies i use to buy crypto cause of the cheap prices. those converted profits i deposit on crypto bookies and try to make some profits in crypto as well.


Don't know you share the same strategy or rather stick to fiat and/or crypto bookie as you usually do.

With this market situation, the use of crypto in betting is better than fiat currency. The fiat currency now is not good because of the depression of the economy. So that I suggest you use cryptocurrency rather than fiat currency at this time.

[maydna]

Want your opinion on this guys.

We are situated in a bear market for some time and with a huge crash happened the past 2 weeks.

Do you guys keep betting with crypto and stack your crypto profits or do you prefer to switch to fiat betting and convert fiat winnings in crypto?
Me personally I love to bet on sports, fiat as well as on crypto platforms. However during the crash I switched to betting on fiat bookies for 90% of my bets.
Profits i make at this moment with fiat bookies i use to buy crypto cause of the cheap prices. those converted profits i deposit on crypto bookies and try to make some profits in crypto as well.


Don't know you share the same strategy or rather stick to fiat and/or crypto bookie as you usually do.

With this market situation, the use of crypto in betting is better than fiat currency. The fiat currency now is not good because of the depression of the economy. So that I suggest you use cryptocurrency rather than fiat currency at this time.

Besides that, we need fiat to buy something for our real life and although we can use crypto to buy something too. But still, people in out there prefer to use fiat, and many of them don't know much about cryptocurrency. And if we use cryptocurrency, then we can choose the cheap coins to place the bets, so we only need to buy that coin in some amount, and we can get a large amount of that coin.

[mallorcagold]

even a bear market I keep gambling a little with crypto. Just made 0.5LTC profits with only a 0.005 deposit. and still 0.35LTC left to play

[creeps]

I prefer to gamble with flat because I'd hate to gamble with a crypto that pumps x2plus after I spend it

I also experienced this before, and I felt like I loss more money than what I loss in gambling. I still prefer to use fiat money which is more convenient for me and its more liquid. Well, in this bear market I think holding is quiet more safe than to gamble/trade with your coins because it can still go dump. Know the risk before you gamble, don’t follow the hype or you will lose more later on, gambling for me in any situation is not a good source of income.

[emberbekas]

In the bear market, if we use crypto as our main tool to gamble then our concentration will be splitted. We can't focus on our games while our mind are always on the market, afraid of further dip. So, fiat could be the good alternative in this such down trend.

[carlfebz2]

Yeah but he is asking if he should use Bitcoin or Fiat.. He is not asking about the mood of the market and if you hold or sell.

Better to pay more attention to what you are replying, my friend, because you have zero comprehension.

Anyway, i would not bet on BTC at the moment.

Whenever crypto market goes into a state of depression I usually exit and forget about it for some time. I don't want the depression to influence my actions and my mood, so I don't check the price, don't sell any cryptocurrency and don't gamble with it. If you hold cryptocurrency bought earlier this year don't sell it and don't spend it because you'll get much less than you should.

Its not actually a zero comprehension reply or post even though it is a little bit out of topic but still considerable so I don't see any problems on it.

Back on topic, if you do based up on fiat equivalent on crypto bets then it shouldn't matter but if you are accumulating crypto amount as many as you can
then betting crypto isn't really a good thing as of now.

[toastfacekillah]

I definitely prefer crypto gambling when the prices are plummeting. And there's some good information here about which books have the lowest margins. But if btc hits $3k then I'm going straight to the Roulette table!

[izanagi narukami]

I definitely prefer crypto gambling when the prices are plummeting. And there's some good information here about which books have the lowest margins. But if btc hits $3k then I'm going straight to the Roulette table!

IMO, it's quite risky especially when market is on red but if you're convert into fiat in haste, I think it's not a big problem.
Personally I'm prefer to gamble / invest with fiat on other investment platform until the market back on green

[baradfo]

For me it would depend on how well you are at gambling. If you're doing ok then stick with crypto to get the profits in the denomination. If you're great at it, then with these depressed prices go to fiat and then convert to crypto at a discount. Things are rough, been almost a year on the downturn, but eventually the added coin that you pick up from your fiat winnings will come back and give you a good return. Who knows when the bleeding will stop, maybe beginning of next year. You sound like you have a good strategy though, just don't lose the majority of your crypto on the bets.

[jrrsparkles]

Crypto betting is always better and safe when compared to fiat but if you consider about the value of your crypto holding got decreased then you should stop gambling or just gambling with fiat.But for the people who just want to deposit may chooce crypto over fit always.

[el kaka22]

I think it is much better betting right now with bitcoin considering you have a chance of not only winning and making up the difference but also if you lost you will lose less in fiat if you care about that.

I personally gamble for getting the bitcoin number higher or at least have fun while doing it so it doesn't matter to me if I gamble with fiat or crypto since the outcome is still the same, if I am not happy with what I do, I must be doing something wrong.

However, if I was asked which one is better betting fiat and getting more fiat or betting crypto and getting more crypto I would prefer crypto in this market. Why ? Because if you bet 1 bitcoin and win 0.2 bitcoin so you have 1.2 bitcoin you not only make up the loss in the market but also will have more fiat when the price goes back up.

[mallorcagold]

I think it is much better betting right now with bitcoin considering you have a chance of not only winning and making up the difference but also if you lost you will lose less in fiat if you care about that.

I personally gamble for getting the bitcoin number higher or at least have fun while doing it so it doesn't matter to me if I gamble with fiat or crypto since the outcome is still the same, if I am not happy with what I do, I must be doing something wrong.

However, if I was asked which one is better betting fiat and getting more fiat or betting crypto and getting more crypto I would prefer crypto in this market. Why ? Because if you bet 1 bitcoin and win 0.2 bitcoin so you have 1.2 bitcoin you not only make up the loss in the market but also will have more fiat when the price goes back up.

Correct. I would take same approach as well, but only with crypto I purchased during the crash. If you for example still hold coins bought at 10k+ its to risky to bet with. You can win of course but if you loose you loose your initial purchase amount and not todays price cause you bought much higher.
So I would gamble with crypto as well but only with fresh purchased coins.

[livingfree]

I think it is much better betting right now with bitcoin considering you have a chance of not only winning and making up the difference but also if you lost you will lose less in fiat if you care about that.

This is right, the feeling isn't like that much but if you are long for bitcoin you will regret if you ever lose such amount in bitcoin. I gamble with bitcoin regardless of the market.

There's no way to gamble in fiat that requires no KYC if you are into online gambling and also here in my country, online gambling isn't allowed which is only considered for fiat transactions but for crypto's, they aren't considering it as for no ruling about it.

[nydiacaskey01]

Want your opinion on this guys.

We are situated in a bear market for some time and with a huge crash happened the past 2 weeks.

Do you guys keep betting with crypto and stack your crypto profits or do you prefer to switch to fiat betting and convert fiat winnings in crypto?
Me personally I love to bet on sports, fiat as well as on crypto platforms. However during the crash I switched to betting on fiat bookies for 90% of my bets.
Profits i make at this moment with fiat bookies i use to buy crypto cause of the cheap prices. those converted profits i deposit on crypto bookies and try to make some profits in crypto as well.


Don't know you share the same strategy or rather stick to fiat and/or crypto bookie as you usually do.

I dont see any huge crash that happened in the past 2 weeks. You need to get used to the price of BTC to drop 20-30% and that's not a huge crash yet. It doesnt matter if its bear market or bull. Just play and don't mind with the exchange rate. If you keep on looking on the exchange rate you will not enjoy gambling because you are worried that the price might continue to go down. Focus on increasing your holdings not on the exchange rate.

[eternalgloom]

I personally don't mind gambling when the market is down like this, I just apply different bet sizes.
Now I can spend a little bit more funds in Bitcoin for example, then I would when the price was still higher than today.

Since I've started betting in cryptocurrency casinos, I've never even deposited to a fiat casino.
I don't want to wait days until my withdraw is 'reviewed' or whatever.

[20kevin20]

It makes more sense to me to bet when the prices are down. As the prices go down, a dollar worth of BTC means more satoshis than it meant before the price fall. That means you can bet less and make more BTC for when the prices spike back up. But I would only gamble if I have already lost money through the price fall.