Fiat or crypto betting in bear market?

[darkangel11]

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.

And you never know when the prices will go up. You can lose some coins betting in the evening and in the morning wake up to Bitcoin being worth $1000 more.
On the other hand, we could say that if you win coins today, your win could be worth even more tomorrow, so things are always in balance. If you lose fiat this fiat and believe in cryptocurrencies, why not spend fiat on coins today and don't bet anything?

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[hahay]

I personally have left bookies for fiat for a long time because of security concerns made by the government, so I have no problem if the crypto market is up and down, because gambling in crypto is my alternative to be able to gamble without worrying about local security.

[20kevin20]

And you never know when the prices will go up. You can lose some coins betting in the evening and in the morning wake up to Bitcoin being worth $1000 more.
On the other hand, we could say that if you win coins today, your win could be worth even more tomorrow, so things are always in balance. If you lose fiat this fiat and believe in cryptocurrencies, why not spend fiat on coins today and don't bet anything?

If you're afraid of the price fall, what's the point in betting at all? The point is making money. If the websites gave 1-10k satoshis for betting again like they used to years ago through faucets, believe me I'd bet all day long until I'd be able to withdraw.

Would you rather deposit $100 on a betting website worth 0.01BTC or deposit $100 when BTC's price is down to $1k and have 0.1BTC to play with? The second option is more appealing to me.

[yvesp110]

I personally have left bookies for fiat for a long time because of security concerns made by the government, so I have no problem if the crypto market is up and down, because gambling in crypto is my alternative to be able to gamble without worrying about local security.

For sure it is good to make our own way. Government in some places don't allow some particular games and I think in those places instead of getting with fiat people can gamble with the crypto currency id they are facing some legal issues and problems so no worries just try not to enter any such bad situation but try to gamble if you want to appear as good gambler.

[EcoChavCrypto]

You are going to be gambling with money after all, so it does not matter if you are using fiat, or crypto, or any other thing that can be considered as money.
The only bad thing is that you are losing a bunch of bitcoins if you are betting/gambling with considerable amounts of money.

That is the only bad part of it

[maydna]

You are going to be gambling with money after all, so it does not matter if you are using fiat, or crypto, or any other thing that can be considered as money.
The only bad thing is that you are losing a bunch of bitcoins if you are betting/gambling with considerable amounts of money.

That is the only bad part of it

I think it's different if we use fiat or crypto as betting because if you use crypto, you can use many coins as the option and you can buy some amount of coins with limited money. For example, if you have $100 and you purchase dogecoin, you can get almost 46735,75906369 dogecoins, and you can use it all in one-time or split into several parts, and you can play for one day only or a few days. When you lose 10k dogecoin, you still have the rest amount, and you can come back in the other days. And if you use the money, let say $100, you still use and lose $100, you are losing all the money.

But yes, in the end, we will lose a bunch of bitcoin if we choose bitcoin as the bets and well, we cannot recover that lose because we need the luck to win the game.

[CTO@MyBitMine]

I see no sense in your words. Does it really matter in wich cyrrency you bet on sropts? I prefer both of it because for me it really doesn't matter. However a lot of fiat bets requres KYC and at this time there are a lot crypto bets without KYC. So I think it depends personally for everyone.

[mOgliE]

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.

I agree that bear market isn't good for gambling...

The problem will be that everytime you lose you'll tell yourself "damn I shouldn't have played around with BTC it'll be worth so much more in the future, I've lost what will maybe become thousands of $" and when you win you'll tell yourself "yeah but it's worth only that much right now..."

So either wait a bit to gamble or stop comparing crypto to fiat! If you're able to consider crypto as its own then you can gamble with it without fearing being stupid because of the bear market.

[gabmen]

I see no sense in your words. Does it really matter in wich cyrrency you bet on sropts? I prefer both of it because for me it really doesn't matter. However a lot of fiat bets requres KYC and at this time there are a lot crypto bets without KYC. So I think it depends personally for everyone.

Well sometimes it can be put into consideration especially if the gambler doesn't have that much to begin with. Though crypto gamblers wouldn't really notice the difference in conversion i think. Personally i'd rather keep my coins and use regular currencies for things like gambling.

[onrise]

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.

And you never know when the prices will go up. You can lose some coins betting in the evening and in the morning wake up to Bitcoin being worth $1000 more.
On the other hand, we could say that if you win coins today, your win could be worth even more tomorrow, so things are always in balance. If you lose fiat this fiat and believe in cryptocurrencies, why not spend fiat on coins today and don't bet anything?

Losing fiat is more better than losing crypto coins as per me. My be not today it would be worth but in future or coming time crypto will be highly valuable and most usable as well. So something like BTC or ETH if you lose today you are losing quite big amount as compared to future value.

[mallorcagold]

Yeah I agree if you do not compare with fiat all the time and purely look at crypto amount than its a good way to stick to crypto gambling.

I build my 0.003BTC up to 0.035BTC in sports betting past 7 days. Not that big amount but we all know how much value 0.035 was x amount of time ago. All profits made in crypto now have a potentially good value in future

[SwiggHeart]

If you care about the value of the crypto nowadays aka bear market, I would be considering using fiat to bet.
If you don't care and being fun with the crypto, use crypto to bet instead.

[8Habits]

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.

That is actually a good strategy there. But for me, I really don't use fiat money with gambling. I don't know, I just feel that fiat is a hard earned money and should not be used for gambling.

Although the value of fiat and crypto should be the same, giving the same value amount, I just feel it that way.

[Indrawan77]

I prefer to bet in crypto despite the bear market situation, if I hold the coin then there is a chance that the coin losing value, so its better to just gambling with it, by holding the coin in bear market its mean I am gambling with the market condition, and if I gamble with crypto there is a chance that I can make profit

[CTO@MyBitMine]

I see no sense in your words. Does it really matter in wich cyrrency you bet on sropts? I prefer both of it because for me it really doesn't matter. However a lot of fiat bets requres KYC and at this time there are a lot crypto bets without KYC. So I think it depends personally for everyone.

Well sometimes it can be put into consideration especially if the gambler doesn't have that much to begin with. Though crypto gamblers wouldn't really notice the difference in conversion i think. Personally i'd rather keep my coins and use regular currencies for things like gambling.

That's what I'm talking about. Agreed with you, I don't see real difference in crypto or fiat gamling, if I can I bet my fiat first coz of faster withdraw only.

[MFahad]

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.

Yes, if you want to cover up your loses, this is a good time to bet as in case of win you will get more value (satoshis). Also if you do betting in bear market and more importantly Win, you can save the wining bitcoins, Hold and transfer to fiat when the price rises.

[dmamigo]

Doesn't matter for me, be it a bearish or a bullish market, as my options for fiat betting is very limited with humongous restrictions and eKYC and other hassles. So I prefer crypto betting, it's fast, hassle-free and I have access to various games which I don't find while choosing the sites which accepts my local fiat and follows my country norms and policy.

[STT]

Doesnt a declining price mean you can look back and see that you have lost less then you thought.   Also just doing nothing would be discouraged because the value is going down with inaction  

Where as if you take an account balance, bet and get winnings you can withdraw your original balance to spend and still retain enough to keep gambling either way.     I'm not sure everyone views it this way but seems to be a case of use it or lose it to some extent, might as well take the odds and roll the dice?

[8Habits]

Doesnt a declining price mean you can look back and see that you have lost less then you thought.   Also just doing nothing would be discouraged because the value is going down with inaction  

Where as if you take an account balance, bet and get winnings you can withdraw your original balance to spend and still retain enough to keep gambling either way.     I'm not sure everyone views it this way but seems to be a case of use it or lose it to some extent, might as well take the odds and roll the dice?

I get that mate. Everything comes to him who hustles while he waits. As what is happening in the market now, those who stay holding are really losing a lot its value (but it doesn't follow though that it is already a lost because the price can bounce up again) but for those people who invest, trade, and find other ways to grow their assets, seems to be doing fine even in the current down market.

[maydna]

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.

Yes, if you want to cover up your loses, this is a good time to bet as in case of win you will get more value (satoshis). Also if you do betting in bear market and more importantly Win, you can save the wining bitcoins, Hold and transfer to fiat when the price rises.

When bitcoin price is down as now, we can get more bitcoins with the same amount of the fiat, and we can use it for playing at any time. And this will not happen if we are using fiat because when we use fiat as the bets, once we lose then we lose all of the fiats. By using Bitcoin, we have a chance to hold the bitcoin until the price can increase so we can exchange to fiat and it means, our profit from bitcoin will bigger.