Will an increase in bitcoin price affect the gambling industry

[kingpin4321]

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

[1714765562]

1714765562

[theskillzdatklls]

In my experiences, crypto price affects the gambling industry less than others. Meanwhile things like media are some of the most affected by price.

That said, positive increases will increase gambling, but just by less than other industries.

[MakeMoneyBtc]

 No, I don't think it will affect the gambling industry very much since most gamblers are counting their bankroll in dollars and make withdrawals daily or weekly.

[Bitinity]

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

If we talk about bitcoin gambling, the only effect can be about the amount wagered. Once it increased a lot, the wagered amount can be less than once it is cheaper although the value is the same in fiat money ($). I do believe most bitcoin gamblers are still using $ or other fiat money to give a limit on their gambling activity. So no matter how much is the bitcoin price, they will still use $ to make a limit on their bets.

[Johnyz]

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

The value will just chance I think but gambling will remain the same, and those who earn a lot of bitcoin through gambling will be more successful if the price increases. Many gamblers used bitcoin to gamble, and maybe if there’s a new peak again some gamblers will not use bitcoin in gambling for a moment because they want to take profit on that.

[mich]

Yes it does and in fact I think gambling industry is effected by the cost of Bitcoin transactions.
For example, someone may be more inclined to send their BTC if the cost is 1 Satoshis/vbyte | 0.00001 BTC/KvB
However, if the price is high such as 50 Satoshis/vbyte | 0.00050 BTC/KvB, then people may not be in such a hurry to send their BTC to a Casino.

[goaldigger]

I guess not. The basis of the bets and gambling is the recent value. The gambler also controls the bets within just their price range. Whether the value increases or decreases, the recent bets would be the same. For example, the bets now have high digits because of lower value, then vice versa.

[Botnake]

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.

[orions.belt19]

I guess not. The basis of the bets and gambling is the recent value. The gambler also controls the bets within just their price range. Whether the value increases or decreases, the recent bets would be the same. For example, the bets now have high digits because of lower value, then vice versa.

Even while the value of bets are the same, I think it would still have some effect.

When you play with fiat and the exchange rate for the particular currency you've been using suddenly increases, wouldn't that have an effect on you? For someone who has unlimited disposable money, it may have no difference for them but for someone who knows the effects of price increases then it could probably affect one's gambling habits.

Also, when bitcoin price increases the transaction fee and time is also affected. When this happens, gamblers may get affected as well. Due to high transaction fees or long confirmation time, they may have a hard time playing or betting unless they resort to the use of other currencies.

[Oilacris]

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

Lets talk on different sides:

Gambling owners/house
- No matter what price do bitcoin have business must go on and there would be no changes on their side.They
are aware with the fluctuations which do affect their bankroll value but even on a dump market they can accumulate much more bitcoin
from to its users and when markets tends to rebound then it would be a win-win for them.

Gamblers/Players
-Its up to you if you are really optimistic with your own bitcoin.If you do look for long term
then you wont tend to use it up heavily but if you don't care at all then this wont really be an issue for you.

[maydna]

Maybe it will affect the gamblers. When the price is down, they can use a big amount of bitcoin to bets but when the price is up, they have to choose to use big amount or small amount, and if they use big amount and they win, they can win a big amount too.

There will be many new gamblers that want to test their luck in the gambling games because they already make a big profit in the trading so they can use some of the profit to play the games.

But it's back to the gamblers itself. If they are very strict with their money, they will only use a small balance in gambling games and only play in a short time because they don't want to lose big money in gambling.

[susila_bai]

I dont think that it will affect as because when the price is down the gamblers will bet high and when the price is high they will still bet but with low value. Still they will be gambling so i think gambling industry wont get affect only volume of business will go up and down.

[davis196]

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

This question has been asked 100 times before and you should just search the forum instead of posting another pointless thread.
No,the rise of the bitcoin price won't affect the gambling industry.

[YuginKadoya]

In my opinion, the sudden price change on the market would surely not gonna affect much with the gambling industry and the only thing that will be affected if some gambling sites would change their fee or the needed money to play on their site will surely change the amount, But the thing that can affect them will be if the price of bitcoin turns to zero then that can sure affect their business, but well that will sure not gonna happen because Bitcoin will forever reign the cryptocurrency market,

[Shinpako09]

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

If we talk about bitcoin gambling, the only effect can be about the amount wagered. Once it increased a lot, the wagered amount can be less than once it is cheaper although the value is the same in fiat money ($). I do believe most bitcoin gamblers are still using $ or other fiat money to give a limit on their gambling activity. So no matter how much is the bitcoin price, they will still use $ to make a limit on their bets.

Im doing this sometimes especially when the price is still on top. Setting my limit in dollars but more often i'm setting my limit in btc so likely it doesn't affect me. That's what I practiced for how many years in gambling so if the price goes up and I won, I accumulate more dollars.  

[swogerino]

I think it depends. If it will be increased to more than 10000 dollars probably will impact the gambling industry as people will play less money and will be more fanatics when it will come to spend their bitcoins.

An increase is not in the horizont so the gambling industry will continue to flourish.

[leea-1334]

I have been in the gambling scene for Bitcoin for a few years and I can say that yes, the price does affect a few things. The most obvious is when the price was at ATH. People were really feeling rich and so they did not mind to gamble a lot of coin because they were sure the price was going even higher. Can you imagine playing even 0.00005 BTC was playing with 1 dollar!

Now, it feels more painful for people to play 1 dollar because it is 0.00025 BTC. Five time more!

[traderethereum]

I think it depends. If it will be increased to more than 10000 dollars probably will impact the gambling industry as people will play less money and will be more fanatics when it will come to spend their bitcoins.

An increase is not in the horizont so the gambling industry will continue to flourish.

Then we could see there is more people will become addicting to gambling because they still playing gambling. They don't need to spend huge money in one-time only, but they can use for example $100 in bitcoin to play. But I guess that there are people who will deposit more than 1 bitcoin so he can play any games he wants continuously.

[Johnzky]

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

GAmblers has they’re own currency used to bet so I don’t think that increases of bitcoin prices will effect the gambling industry.
And why need to have changes in this way when the people itself has no things to do for this

But we will learn the effect if the bitcoin price increase sooner

[crwth]

I think it already did, knowing from those early gambling sites where they have reached the part of Bitcoin being under $1000, they have already profited from it a lot. Additionally, if you have made some money with investing in different sites, it does affect it for sure.

Maybe another thing to consider is that when the price is high, the lower number of High-Rollers would be willing to play. I don't know, and it seems logical to have that because if you think about the amount of BTC they are risking, it's a lot. I'm not a high roller, but I would be pretty scared to bet a significant amount though.