Will an increase in bitcoin price affect the gambling industry

[akram143]

The price of the Bitcoin will not depends upon anything so it will not affect anything while it was developed or not but the demand will definitely but the increase of gambling industry will definitely gives the development to Bitcoin by the people getting attracted with gambling.

[rodel caling]

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

Of course have a little bit affect from gambling if the price of bitcoin increase in the coin market cap, my own opinion and reason is bitcoin can contvert in the dollar rate the advantage of this gambler use the strategy in gambling usd and bitcoin betting.

[Oilacris]

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

I don't see that way even how big the winnings you do have it wont still make effects to the entire market.Lets say you have won big amounts with a various number of gamblers on different gambling
sites but those funds would still circulate and even turning those coins or converted to fiats those funds would still come back on gambling itself.
Don't see any significant effects with gambling industry on overall market.

[Adriano2010]

I don't think the price of bitcoin affect so much the gambling industry. There are a lot of sites who accept only fiat for bet, and there are less who accept crypto coins for gambling, but even for these who accept crypto for bets don't affect them, instead is better for them to have an increase in price.

[MakeMoneyBtc]

I don't think the price of bitcoin affect so much the gambling industry. There are a lot of sites who accept only fiat for bet, and there are less who accept crypto coins for gambling, but even for these who accept crypto for bets don't affect them, instead is better for them to have an increase in price.

For crypto gambling websites an increase in bitcoin price would be a good thing because most of them hold a lot of bitcoin in their wallet in case someone wins a high amount of money but in the same thing it could affect them if multiple persons win a couple of big bets and they don't have enough funds to pay them because they would have to buy the required bitcoin with fiat and they would have to pay more for it

[spadormie]

Usually bitcoin price is affected by great news and I don't think that bitcoin price is being affected by the gambling industry.

[CryptopreneurBrainboss]

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

Gambling with cryptocurrency is more of a risk as your cashing out via bitcoin keeps you at a 50/50 chance on benefiting from bitcoin price gain or losing to it price lost. If the price of bitcoin increasing the change will be, the massive profit made from holding the bitcoin you won before the sudden price spike (when it comes) and more gamblers will pick interested in cryptocurrency related gamble houses.

[gilangIDR]

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

Gambling with cryptocurrency is more of a risk as your cashing out via bitcoin keeps you at a 50/50 chance on benefiting from bitcoin price gain or losing to it price lost. If the price of bitcoin increasing the change will be, the massive profit made from holding the bitcoin you won before the sudden price spike (when it comes) and more gamblers will pick interested in cryptocurrency related gamble houses.

This is one of the attractions of cryptocurrency, with price increases so fast that when prices increase, the gambling industry will definitely get the benefits. The value of the assets we have will increase and that certainly makes cryptocurrencies on one track with the gambling industry. The gambling industry will increasingly develop when the use of cryptocurrencies can be maximized.

[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.

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.

Yes, Pertaining to the amount of resources you have, bitcoinvs price really affects because if it drops very low, the tendency is that a gambler would either kept his holdings and not gamble at all.

[Sum24]

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.

Yes it is good for gambling because this way people gets attracted towards gambling as it gives more betting profit and more investment will be done by people, gambling is directly proportional with price of bitcoin so in price will increase surely more people will join for high profiting and more money to earn for gambling.

[Juliya_D]

This is one of the attractions of cryptocurrency, with price increases so fast that when prices increase, the gambling industry will definitely get the benefits. The value of the assets we have will increase and that certainly makes cryptocurrencies on one track with the gambling industry. The gambling industry will increasingly develop when the use of cryptocurrencies can be maximized.

It is way easier for me to take part in gambling games and pay in dollars and not in cryptocurrency. There is some kind of fear to lose more cryptocurrency in case of its growth. It is easier with dollars. Today it is 1 dollar, and it will be 1 dollar tomorrow

[Ayiranorea]

In most cases people spend on gambling in terms of USD. When there is price increase the spending of bitcoin will decrease in comparison to the present market. This will not affect the gambling industry and as the price increases users feel free to spend on consecutive games with small amounts.

[omonuyak]

Usually bitcoin price is affected by great news and I don't think that bitcoin price is being affected by the gambling industry.

I think op is asking if increasing or decreasing in bitcoin pricing do affects gambling industry and not the other way.  The gambling industry is becoming more popular among the cryptocurrencies enthusiasts now and I think there  benefit from it the most.

[Symphonized]

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

Well for instance investors would be selling immediatly (in case those who want to take out some of the profits they got from the price rise).
Others would just continuing investing a little more till a higher price hit.

This could also bring new crypto users to the market and rise the price even more (since they would be buying more btc)

[virasog]

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

Well for instance investors would be selling immediatly (in case those who want to take out some of the profits they got from the price rise).
Others would just continuing investing a little more till a higher price hit.

This could also bring new crypto users to the market and rise the price even more (since they would be buying more btc)

If you remember in December 2017, when crypto was at its highest value, Many new people jumped into gambling as there was fomo that bitcoin will not stop and may reach 50,000K. When bitcoin prices rises automatically , many new investors will jump in. This will also mean that when people have more bitcoins and crypto, they might play more gambling and hence it will be a good effect on gambling industry also.

[Naida_BR]

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.

[StarofBTC]

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.

Well, I would say if its fiat gambling, there is possibility of it not having any effect but for any online crypto gambling, every increase of decrease tells on the gambler bankroll. Let me use the example of what happened in the month of December 2017. The value of coin that entered the market was less than $11,000 AND IT WENT SO HIGH TO $20,000.

It was obviously a great time for bitcoin gamblers because their bankrolls almost doubled but  in that same month of December, BTC dipped under $13,000 and you can imagine that gamers fund decreased by 35percent

[whirlcoin]

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

Bitcoin gambling is more popular nowadays so the people are trying to put larger investment and get it back so it will be very good thing for gambling also to develop very easily and more stable also happen when the Bitcoin was developed.

[AmoreJaz]

i think we already know the answer to this question. for centuries, gambling sustained their presence in the market, good or bad, they managed to exist.
so with the increase in bitcoins price, it suggests only one thing = another good period for gambling.
no wonder you can see a dice site being launched everyday, a new casino trying to get their audience. so all in all, they are doing a big favour to the gambling industry...

[Stedsm]

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

Come on, think.
Did it change in 2017-18 period when BTC was at its peak?
The question should be:
Will an increase in BTC price affect the gamblers?
Because gambling industry will always be in profit due to the house edge and gamblers will need to think on their betting strategies and amounts that they used to gamble with, before.