Will an increase in bitcoin price affect the gambling industry

[omonuyak]

When bitcoin is in bearish trend it will affect the cryptocurrencies market no doubt but not buying and holding of investing into ico.  We can see that currently the only industries that remains strong in the face of this bearish market is gambling and betting industries and that is because this two industries can survive without much infect in bitcoin pricing.

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[rizkyhiw]

I don't think the gambling industry will surge if the price of Bitcoin soars too, if you see it on the road from time to time, we don't find the gambling industry so much because every year it's only exposed to any media and that's not important because gambling demand is huge by itself without help because this is a game that can be profitable or not they come to have fun or just take advantage, I don't think it's too influential because bets will still be adjusted to current market prices, we wait in the next few years how it might overflow .

[greeklogos]

Interesting question indeed. I introduced with bitcoin exactly from crypto gambling. Any affect on the industry I see only in appearance of new crypto gambling sites, new games, new crypto entertainments.

[leowonderful]

An increase in Bitcoin's price means that more people will notice Bitcoin and potentially invest in it, and by extension people that are gamblers might also notice Bitcoin and put some money into BTC or other cryptocurrencies to gamble with, and this'll result in a growth in crypto gambling.

Cryptocurrency-based gambling's been growing over the last few years simply due to an increase in demand for anonymous gambling alone too. We're currently in a bear market and likely not out of it yet as there could continue to be a few months of sideways action or even a new low in the next few months, but crypto gambling will likely still grow even through these times simply because people are willing to pay a premium to gamble anonymously.

[crzy]

Interesting question indeed. I introduced with bitcoin exactly from crypto gambling. Any affect on the industry I see only in appearance of new crypto gambling sites, new games, new crypto entertainments.

Precisely, not the bitcoin itself because no matter how good the bitcoin is if you’re offering poor services with your gambling sites then don’t expect to gain more gamblers. This will still depend on every gambling sites, for sure the most trusted one will enjoy bigger profit.

[Oceat]

We all know that gambling is indeed growing everywhere as if they were like a mushroom but the increase in the price of Bitcoin will not affect the house and the gamblers. Online gambling sites will adapt and adjust according to the recent price. The only changes that you will notice are the amount of cryptocurrency you are going to bet. As the price grows in USD the amount that you have to bet will become lesser and lesser as the price of Bitcoin is growing.

[iqlimasyadiqa]

Bitcoin prices will definitely have a huge impact on various things related to the use of bitcoin. including the gambling game industry, it is difficult to predict indeed, but in its development when the price of bitcoin increased, there will be more use of bitcoin and also the gambling game market will attract more gamblers.

[GreatArkansas]

For me, there are effects on the gambling industry, we can consider the positive effect of it. Like there are more people will use bitcoin for gambling, the adaption will grow not only in gambling but also on cryptocurrencies like Bitcoin. That's my opinion about the effect of Bitcoin on the gambling industry.

[hd49728]

I've known some gambling site that's using chips and it's quite helpful for some players who want to gamble for a much lower balance.

Some other sites have bits, instead of chips.
Both of bits and chips allow gamblers to withdraw with small amount out of gambling sites.
It's convenient option for small gamblers.

[Carollzinha]

As first and most likely investors will start selling as the price rises, their profits will be way higher then before.
And probabily more people will start joining BTC gambling, even more from alt users if there's a huge gap between each coin price and reliable profits.

[btc78]

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

For sure it will but wont effect the gamblers itself

Because people who bet using bitcoin will surely convert into other altcoins so they can preserve the bitcoin for holding longer"
They will surely use cheaper altcoin things that i will do also if bitcoin price will grow again like 2017 and hoping to happen soon

[Dreamchaser21]

As first and most likely investors will start selling as the price rises, their profits will be way higher then before.
And probabily more people will start joining BTC gambling, even more from alt users if there's a huge gap between each coin price and reliable profits.

A higher price doesn't attract more gamblers to gamble because they will hold for sure but i think if all the hodlers becomes gamblers the possible pump on the industry of gambling will increase. I think there is no need for an increase on gambling site because this is a good business and many gambling sites are still earning money despite of the market.

[bering]

Gambling industry still rapidly increase that i had seen there are plenty of new casinos were announcement almost everyday and those situations were not change until today even when bitcoin price was very high on 2017 people still visiting online casinos and gamble and when the price gradually dropped too such as the current situations then people still gamble too and some of reputable casinos still visited by their loyal players who willing to spend their money through them so in my view the price movement will never have impact for gambling industry

[ethereumhunter]

For me, there are effects on the gambling industry, we can consider the positive effect of it. Like there are more people will use bitcoin for gambling, the adaption will grow not only in gambling but also on cryptocurrencies like Bitcoin. That's my opinion about the effect of Bitcoin on the gambling industry.

But we need to suggest to people to not use bitcoin for gambling only because once they come to the gambling place, the chance to lose the money will bigger, and they could become addicted to gambling. Besides that, we need always to remind ourselves that gambling is only a part of having fun and it's better we can use the money for another thing. The other effect to the gambling industry is there will be more project related to gambling that will launch so it will give another chance for the people to use another coin.

[imstillthebest]

As first and most likely investors will start selling as the price rises, their profits will be way higher then before.
And probabily more people will start joining BTC gambling, even more from alt users if there's a huge gap between each coin price and reliable profits.

A higher price doesn't attract more gamblers to gamble because they will hold for sure but i think if all the hodlers becomes gamblers the possible pump on the industry of gambling will increase. I think there is no need for an increase on gambling site because this is a good business and many gambling sites are still earning money despite of the market.

why not ?  i love to gamble my cryptos when thier value is pumping  and for sure im not alone with it  . its easy to become a wealthy man if you can double your coins in a gambling site compare to when you do investing or trading because they takes alot of time  .  gambling site or the gambling industry is already huge , so your right . it does not  need any extension , it does not need any people to enter the gambling scene  .   we better foccus on the crypto industry as it is more beneficial  .

[peter0425]

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

Definitely, I've seen gamblers are somewhat reluctant to play because bitcoin price is going to the moon. So I speculate that probably others might lessen their gambling habits. During the last all time high, we have problems with confirmation time that somewhat sway gamblers as well. So I do hope during the next run, we won't see this problems otherwise, I'm sure this will also be a contributory factors not the play using crypto.

[raven7886]

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 would say a very YES to your question. The increase in Bitcoin has a great way in affecting the gambling industry and mostly the online crypto gamblers.  As a Bitcoin gambler, you can never tell what your bankroll would be like the next day. Bitcoin is volatile and that means the prices fluctuates on the marketplace.

The worth of your bankroll can be 0.1BTC and you wake up to find its now 0.008BTC if any drop happens. This is not just for Bitcoin gamblers but all other cryptocurrency because there is every guarantee that any drop or increase in Bitcoin affects all other related coins and that’s the same with increase, so every increase in Bitcoin leads to increase in bankroll.

[wuvdoll]

In dollar terms ? I don't think so. In bitcoin terms ? Sure. As long as bitcoin price goes up the amount of bitcoin gambled will eventually start to go down, I remember we used to gamble with couple bitcoins on martingale like it was nothing because it really didn't mean nothing but very few people have the money and balls to do such thing now.

Moreover, if you look at the dollar value of how much they win/lose than I doubt it will have a difference, someone betting 50 bucks on a sports game will bet 50 bucks on that game no matter if that is 1 bitcoin or 1 satoshi.

Faucets maybe will be need to changed into a new amount since the price changed but I doubt anything else will be needed to change. Gamblers do not use x amount of bitcoin as their basis, they use dollars for it hence why it shouldn't really matter.

[greeklogos]

Interesting question indeed. I introduced with bitcoin exactly from crypto gambling. Any affect on the industry I see only in appearance of new crypto gambling sites, new games, new crypto entertainments.

Precisely, not the bitcoin itself because no matter how good the bitcoin is if you’re offering poor services with your gambling sites then don’t expect to gain more gamblers. This will still depend on every gambling sites, for sure the most trusted one will enjoy bigger profit.

Normally. But this bigger profit surely will attract newbies on the market of crypto gambling. The whole industry makes a lot of money today and bigger profit will attract new players, who will also wish to earn through creating a new gambling site. Of course only those ones who will suggest good games, good prizes, good services and support will stay. But again that can become a reason of a new wave of crypto gambling scamming. We may not expect that.

[radjie]

no, the main factor that can affect the growth of bitcoin is only a group of people who trade. as we know, bitcoin price movements tend to decline more often and many people are turning to get quick profits with gambling, although the risk is very large in gambling, but for most people who like to gamble, gambling is an alternative to generating faster profits if we have skill and courage in doing so compared to short-term trading that can generate profits every day