Cryptocurrency In The Gambling Industry: All You Need To Know About Bitcoin

[Ucy]

At the same time, the saturation of the market will lead to some of these sites disappearing, with only those dedicated to the development and growth sticking around. However, the user base is expected to grow further as more users begin to understand and adopt crypto. The convenience and security of cryptocurrencies are factors that have helped grow this area.

This is already happening. The market is getting saturated by those who think gambling is lucrative business. It's more like what happened in ICOs were  lots of people who knew nothing about cryptocurrency nor believed in it launched their own coins and got the market saturated with lots of confusing and substandard projects

[Twinkledoe]

At the same time, the saturation of the market will lead to some of these sites disappearing, with only those dedicated to the development and growth sticking around. However, the user base is expected to grow further as more users begin to understand and adopt crypto. The convenience and security of cryptocurrencies are factors that have helped grow this area.

This is already happening. The market is getting saturated by those who think gambling is lucrative business. It's more like what happened in ICOs were  lots of people who knew nothing about cryptocurrency nor believed in it launched their own coins and got the market saturated with lots of confusing and substandard projects

Those who have solid foundation will stay but those who are only after for the quick cash will always disappear. You can evaluate a gambling site if they have the intentions to operate long-term or short-term. One way to check is the gambling licenses they possess. If they find time to apply and acquire those licenses, I believe they are not here for couple of months or so but looking for years of operations. A developer can easily make a gambling website but to sustain it is another thing to consider. You can check also the amount of bankroll they have. A lot of them are faking their figures but you will know in time if they are faking the numbers on their site.

[finaleshot2016]

At the same time, the saturation of the market will lead to some of these sites disappearing, with only those dedicated to the development and growth sticking around. However, the user base is expected to grow further as more users begin to understand and adopt crypto. The convenience and security of cryptocurrencies are factors that have helped grow this area.

This is already happening. The market is getting saturated by those who think gambling is lucrative business. It's more like what happened in ICOs were  lots of people who knew nothing about cryptocurrency nor believed in it launched their own coins and got the market saturated with lots of confusing and substandard project

That is about altcoins but when you're talking about bitcoin, there is much business that is BTC-related are still working and staying strong. Some of the altcoin projects and platforms are getting disappeared after getting huge money in ICO. People's money is getting wasted on a scam project and they can't do anything with it.

The market is getting saturated because of the reputation of cryptocurrency, people should learn about the legit and the scam.

[kotajikikox]

Yes when you are in cryptocurrency and you know to use bitcoin you can easily access online gambling here bitcoin talk forum.
No need to go outside and play for gambling just stay athome using bitcoin now can play gambling.
playing just for fun,enjoy and can earn such a big money.

[michellee]

I think after people know cryptocurrency and they are involved in deeply in the cryptocurrency, they will find that cryptocurrency can be used for playing gambling. They will know that gambling in cryptocurrency will give them an easy to use any coins they want, and they have a big option to choose the coins as the bets. They can hide from other people, they can playing gambling without anybody knows, and they can enjoy the games.

[omonuyak]

Yes when you are in cryptocurrency and you know to use bitcoin you can easily access online gambling here bitcoin talk forum.
No need to go outside and play for gambling just stay athome using bitcoin now can play gambling.
playing just for fun,enjoy and can earn such a big money.

I think bitcointalk only provide us with information and discussion on gambling and not that we can play gambling here. Blockchain is good for gambling because of how flexible it is and we can used blockchain technology to do many things. Gambling industry is growing now online since cryptocurrency and blockchain come into existence. Bitcoin also makes deposits to gambling sites easier, unlike what we have before when some citizens of some country cannot play online casino or gambling because of deposits and withdrawals.

[MFahad]

You are right, but i also have a lot of reasons in my mind about crypto currency popularity in gambling industry, and the main reason, majority gambler want to play without giving their personal information and don't want to show their identity, that's why majority of the gamblers are here in crypto world of these type of gamblers. Otherwise we have discuses a lot of time that crypto currency has a big role on online gambling industry.   

[samputin]

I would like to commend your effort here OP. This is a good source of knowledge especially for the new comers. However, I've noticed that this post is copy-pasted. Though you have included the source, I think there's a much better way of conveying this idea. I think it would be better if you read the original article first then make a thread which includes your own idea and opinion about the topic so that your point of view is also presented. I am not saying that what you did here was wrong. I am only saying that it could be better.

I have also noticed that you're a newbie. Well, I suggest that you read threads on the Beginners and Help section first before diving into boards like Gambling Discussion and other boards so that you will be guided properly. Besides, there are lots of forum members that are very much willing to help out.

I know I am not perfect and also have my flaws and shortcomings here in this forum to give this kind of advice but my intention is to help only and not to offend you. Anyway, you still put a great effort here and good luck for your journey here in this forum.

[swogerino]

I think you have created a good thread for discussion in crypto gambling.I think that we are safe in gamblig with crypto as it gives us some benefits over traditional gambling with the main benefit being privacy.

There a lot of projects in gambling with crypto,people are trying because this is the future of gambling so I think we are safe not only in gambling but in many other industries that are embracing bitcoin day by day.

[shoreno]

I think that we are safe in gamblig with crypto as it gives us some benefits over traditional gambling with the main benefit being privacy.

I dont think that you are totally private when you use crypto for gambling because a gambling site will still ask for your personal infos upon signing up and your transactions can also be traceable if you use bitcoin , eth or any other cryptos that is not consider as privacy coins . the only benefits that crypto provide is i think its less hassel and you can play online gamble with it .

[yvesp110]

I think you have created a good thread for discussion in crypto gambling.I think that we are safe in gamblig with crypto as it gives us some benefits over traditional gambling with the main benefit being privacy.

There a lot of projects in gambling with crypto,people are trying because this is the future of gambling so I think we are safe not only in gambling but in many other industries that are embracing bitcoin day by day.

Yes there is literally nothing wrong about crypto gambling. Bitcoin on the other hand has been pretty much used in the industry and I think that we have other options like Doge coin and ETH to use as well. Depends on what options the online casino provides you and so on. In addition, you could also hide your identity and can gamble behind the mask.

[eternalgloom]

There is only one reasons why Bitcoin/cryptocurrency gambling is a HIT

No one knows you (Anonymous account/transaction)
It is hard for anyone to trace you with you Public wallet address and determine your transaction. Although KYC is a must now days in certain countries but, how they (government) will determine it is an online casino Public wallet address that you are sending your Bitcoins.

There are few more reasons - like lots of Giveaways (what I have been getting from Stake.com) and bonus. Faster deposit and withdrawal and awesome support. These are some of the things that make Gambling more pleasant and fun.
 

Nope.You are not anonymous with crypto gambling.
Anyway,I like long articles copy pasted from somewhere that tell me what I already know about cryptocurrencies and gambling.
Thank you,OP.

You can definitely gamble anonymously with cryptocurrency, ever heard of Zcash or Monero?
If you can get it with an OTC trade, those coins can't be traced back to you if you're doing it right.

Besides, even partial anonymity would already be good enough for most people. Just get your coins from any exchange that doesn't require KYC.

[yvesp110]

There's plenty of casinos where you can use cryptocurrency, cuz the affection of the gambling industry with eos and etherum is huuuuuge

That is right, there is a plethora of casinos that allow you to go all digital and use crypto to gamble at them site/casino. You could use Bitcoin, Eth, Dogecoin and many other coins that are accepted by the casinos in question. And the trend to use crypto is very high because people like to stay anonymous and crypto can give you this edge to gambler and stay anonymous in the same time.

[semobo]

Both the positive and negative things involved in Crypto gambling If you are using the cryptocurrency as a bet then it will not get out from your pocket it always involved in online things so I cannot worry more about your loss but in sometimes you definitely e no idea about how we can do at the time only it will be go like negative things for us

[Upgrade00]

If you are using the cryptocurrency as a bet then it will not get out from your pocket it always involved in online things so I cannot worry more about your loss

But it is coming out of your Wallet, so no, you would not be unbothered by losses. I do not think the inclusion cryptocurrency and the blockchain changes the dynamics of gambling much.
Losses and possible scams is still down to the websites invloved. Do your research before using a particular gambling site

[FanEagle]

Both the positive and negative things involved in Crypto gambling If you are using the cryptocurrency as a bet then it will not get out from your pocket it always involved in online things so I cannot worry more about your loss but in sometimes you definitely e no idea about how we can do at the time only it will be go like negative things for us

I don’t think I have anything negative to say about cryptocurrency gambling, it has been the best ever and if at all there’s any negative aspect, I believe its minor. Cryptocurrency has given opportunity to all gamblers to gamble anonymously and this is a dream come true for those of us who have been gambling from the days of traditional gambling. It was a wish that came through. I personally desired a time I would gamble without anyone knowing or tagging me since gambling reputation has been tarnished.

Also, cryptocurrency gambling has truly been cheaper, can never be compared to fiat gambling and this has given an opportunity to become a gamer. I think all this is enough advantages or positivity enough for cryptocurrency gambling.

[leowonderful]

The thing that really sucks about casinos using KYC is that it is sometimes used as a way to prevent users from withdrawing their winnings. Some casinos don't require KYC to play or deposit funds on their site but then request KYC when you try to withdraw, which is crappy for people trying to gamble with crypto somewhat anonymously. I'd also rather not give my information to a site just to gamble, when that information can potentially be sold off online and used maliciously.

[torry28]

The thing that really sucks about casinos using KYC is that it is sometimes used as a way to prevent users from withdrawing their winnings. Some casinos don't require KYC to play or deposit funds on their site but then request KYC when you try to withdraw, which is crappy for people trying to gamble with crypto somewhat anonymously. I'd also rather not give my information to a site just to gamble, when that information can potentially be sold off online and used maliciously.

Can you tell us what's those gambling sites which require KYC when we want to withdraw our money? So it can prevent us to gamble on there.
I only ever heard some of sites asks you to complete KYC first before you can withdraw huge amount

[YuginKadoya]

In my opinion gambling and cryptocurrency works well together and it is a pretty big hit in the public that wants privacy and anonymity for themselves to not show their identity And with the help of blockchain technology those records of the transaction is really safe and at the same time fast, The convenient for this kind of platform is best for cryptocurrency, But even though there are positive things that gambling can get with cryptocurrency there are certain negative ones as well and the thing is they are now prominent with these are scammy sites that are frequently appearing every now and then.

[Finestream]

The thing that really sucks about casinos using KYC is that it is sometimes used as a way to prevent users from withdrawing their winnings. Some casinos don't require KYC to play or deposit funds on their site but then request KYC when you try to withdraw, which is crappy for people trying to gamble with crypto somewhat anonymously. I'd also rather not give my information to a site just to gamble, when that information can potentially be sold off online and used maliciously.

Right.We chose to use cryptos in gambling because our real identities remain to be private and anonymous.But then KYC appears whic really sucks for most of us gamblers though it's for security measures but i still prefer to gamble on casinos that don't require KYC yet.And i think most of us here feel the same way too.