Will an increase in bitcoin price affect the gambling industry

[hd49728]

Not exactly!
Gambling industry has been built up for years, not when bitcoin moves up.
In reality, when bitcoin, or crypto market in general move upwards strongly, more new gambling sites launched.
However, most of them will turn to dead one, as same as what we saw with new projects launched every hour, everyday when bitcoin hit nearly $20000.

May be not, it give a huge affect on gambling industry. When bitcoin price was up then still gambling industry build and now still gambling industry making money and still bitcoin price down. So properly we can say No.

[michellee]

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

It will affect because the price is high there will be high demand and people will try their luck to gambling to get as many satoshis as possible and I think so many gambling sites are being launched because of the preparation for the coming bull run.

It could be the reason why we see so many new gambling websites. Maybe people are tired to wait for the bull run, so they distract their mind not to have a little fun. And it affects to the gambling website itself because many new people come to their site and try to play the games. But soon, when the bull market comes, people will leave the gambling websites for a while because they will focus on the market to make a profit.

[justdimin]

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

I am totally sure that the fluctuations of bitcoin prices have an impact on the gambling industry.
In my opinion, when they price goes down (and the whole market cap), bitcoin becomes a cheaper coin and the volumes on the casinos are getting increased because people play with more bitcoin portions that before.

I believe this would even bring about more new interested players. Because, for those who have not been interested participating, at this point they could feel a bit interested in participating due to cheaper prices of all cryptos and especially cheaper bitcoins and to those who have been in the game obviously when there is a drop in the price of bitcoin, the volumes of casinos will definitely be on the rise as players would now be gaming with higher portions of bitcoin. I think this is just a simple logic.

At the same time, I am not seeing any gambler is staying away from gambling due to higher bitcoin prices in late 2017 and in early 2018. They were still preferring to go gambling with high value bitcoins. In my view, increase in bitcoin prices may not give big impact but downfall in bitcoin prices will make them to gamble more.

[koroke]

Definitely it will affect, but on the positive manner.

Price increase will make investors profitable and when they are profitable they would love to gamble with their spare money.
Also, I believe that gambling sites are not only focus on their gambling business alone, they are also investors at the same time.

I agree with if Bitcoin price increase, probably gamblers will have a better amount of money and the prizes will be greater  and it will bring more new interested player since when you buy crypto it will be cheaper but with corresponding expensive amount will come to life again. There's a lot of benefits when Bitcoin will start to skyrocket again but recently I start playing already in casino with proper moderation since Bitcoin still low at this point but still I can manage to enjoy their various games such as Poker, black jack, slots, roulette and many more as well as the great deal of rewards for those first timer depositor to their site.

[JohnBitCo]

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

May be not, it give a huge affect on gambling industry. When bitcoin price was up then still gambling industry build and now still gambling industry making money and still bitcoin price down. So properly we can say No.
Usually gamblers see their bankroll and not give attention to bitcoin price too much. I am gambler, i play gambling nowadays behalf of my bankroll and i played gambling when bitcoin price up because of my bankroll.

I think that increase in bitcoin price will have a big impact on gambling industry also. Since the price of bitcoin will be high, people will gamble with less satoshi and few of them may not prefer to gamble with bitcoin and might use eth or other coins for gambling.

[Sithara007]

An increase in the Bitcoin exchange rates can have both positive and negative impact upon the gambling industry. First of all, the net worth of the Bitcoin holders will increase and this can result in more disposable income for the gamblers. At the same time, increasing prices may discourage Bitcoin users from spending their coins (for shopping, gambling.etc).

[btcmegastar]

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

It will affect because the price is high there will be high demand and people will try their luck to gambling to get as many satoshis as possible and I think so many gambling sites are being launched because of the preparation for the coming bull run.

Still, we are not in the situation of the bull run but with the increase in the price of Bitcoin definitely, many gamblers will show more interest towards the gambling because if they have the chance to win through gambling then definitely it will really help them to make a decent profit.

[Twinkledoe]

An increase in the Bitcoin exchange rates can have both positive and negative impact upon the gambling industry. First of all, the net worth of the Bitcoin holders will increase and this can result in more disposable income for the gamblers. At the same time, increasing prices may discourage Bitcoin users from spending their coins (for shopping, gambling.etc).

But even without the bitcoin's price increase, we are seeing online gambling sites being launched everyday - dice sites, racing sites, sportsbetting site, full-fledged online casinos, you name it. The online gambling community is growing stronger because of the numerous benefits that they can have via playing on these online casinos.