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

[TimeTeller]

People prefer to gamble in cryptocurrency since it's more convenient and it's easy to access as long as your country is not restricted in online gambling. Not  to mention, people also enjoy being anonymous when gambling since most gambling sites does not require you to pass KYC. There are also different kinds of gambling games to choose from, like dice, crash games, video poker, poker, sports betting  etc.

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.

Sometimes you need to do the KYC if you are only a high-roller to that gambling site.
Otherwise, if you are spending below such limits, you don't have to do submit your docs.
Aside from enjoying the anonymity in most online casinos, the convenience of playing with them is one big factor also.
You can play anytime, anywhere at your convenience without bothering anyone.
And the provably fairness is very easy to verify as well. Now, compare it to traditional casinos.

[Questat]

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.

If we are afraid of exposing our personal details to them, then better to skip those gambling sites that requires KYC. But, it could be hard by now to find those sites that aren't asking for KYC upon registration cause majority of gambling sites by now have to ask it to verify the owner of this account. It is not a big deal for me if that certain site is legit unless if there is something we hide for.

[Viscore]

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.

I really believe that gambling using cryptocurrency has more advantages compared to traditional casinos and the profit here is bigger than those gambling using fiat currencies. But having those positive advantages, there are also disadvantages that starting to appear in the gambling sites today particularly on submitting personal information for KYC. There are really those cases that we need to submit for KYC or else we will not be allowed to gamble.

[jakelyson]

I really believe that gambling using cryptocurrency has more advantages compared to traditional casinos and the profit here is bigger than those gambling using fiat currencies.

How can that be? Any casino online or not, crypto or not, have the same opportunity to win because they are all based on luck.

But having those positive advantages, there are also disadvantages that starting to appear in the gambling sites today particularly on submitting personal information for KYC. There are really those cases that we need to submit for KYC or else we will not be allowed to gamble.

Some online casinos are developing a bad reputation because of this. KYC should be required upon registration and not when you already deposited, made some profits and withdrawing your money. A sudden KYC requirement is bad. It is like they do not want to give your money. Fortunately, not all gambling sites do this. There are online casinos you can gamble without fearing to submit to a KYC.

[iMark]

One of the main reasons why people use cryptocurrencies for gambling is because they can remain anonymous and they can play even from countries where gambling is restricted. Another advantage of using crypto for gambling is because all deposits and withdrawals are processed in a very short time and most important they work 24/7. Gambling with cryptocurrencies becomes more and more popular every year and I think soon many popular fiat casinos will start using Blockchain technology on their online platforms.

Thats the point! I also gambled because of crypto. what is the problem of the world of gambling currently in the world? Yeah, regulation. it makes it difficult for many people in some countries to gamble using their fiat money because of restrictions, with crypto they can gamble anywhere. crypto will become the future currency for gambling

[Upgrade00]

with crypto they can gamble anywhere. crypto will become the future currency for gambling

Governments are equally aware of these fact, as cryptocurrency makes it difficult to track and monitor citizens through their finances. This would factor in as one of the reasons why governments are seeking to gain some form of control over the cryptocurrency industry to taxations and various forms of regulations.

Cryptocurrency would be the future global currency.

[MFahad]

with crypto they can gamble anywhere. crypto will become the future currency for gambling

Governments are equally aware of these fact, as cryptocurrency makes it difficult to track and monitor citizens through their finances. This would factor in as one of the reasons why governments are seeking to gain some form of control over the cryptocurrency industry to taxations and various forms of regulations.

Cryptocurrency would be the future global currency.

No doubt some governments hate crypto currency that's why they ban it in their country, because they know that they can't control it. But still people use it, especially on online gambling.
Crypto currency wise online gambling is getting popular and a lot of people are playing daily. Also i see mostly people prefer to play online gambling with crypto and don't like to play with fiat.     

[XCANA]

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.

I proudly disagree with you, the only tangible reason why many a gamblers want the cryptocurrency world for gambling is the fact that they are secure and stay anonymous while they Gamble. Privacy is my watch world as a gambler and I have gotten that from cryptocurrency gambling platform's. Cryptocurrency will surely lead the financial industry because it accept be anonymous.

[Kasabus]

~snip~
  

Nope.You are not anonymous with crypto gambling.

I proudly disagree with you, the only tangible reason why many a gamblers want the cryptocurrency world for gambling is the fact that they are secure and stay anonymous while they Gamble. Privacy is my watch world as a gambler and I have gotten that from cryptocurrency gambling platform's. Cryptocurrency will surely lead the financial industry because it accept be anonymous.

But it makes different by now as mostly gambling sites today requires some personal details and I may think that from time to time, will have to accept that we need to submit KYC otherwise, we never enjoy their services. Will soon to happens that gambling won't stay anonymously as this particular scenarios are already started but yet, it needs more time.

[Vaculin]

with crypto they can gamble anywhere. crypto will become the future currency for gambling

Governments are equally aware of these fact, as cryptocurrency makes it difficult to track and monitor citizens through their finances. This would factor in as one of the reasons why governments are seeking to gain some form of control over the cryptocurrency industry to taxations and various forms of regulations.

Cryptocurrency would be the future global currency.

It may be there is no reason why we need to escape from taxations, it is our obligations to pay. In fact, these small contributions will give help to the entire community. But taking into the account that is being controlled by the government, will it something not good and there is no reason why we have to control us.

[romero121]

with crypto they can gamble anywhere. crypto will become the future currency for gambling

Governments are equally aware of these fact, as cryptocurrency makes it difficult to track and monitor citizens through their finances. This would factor in as one of the reasons why governments are seeking to gain some form of control over the cryptocurrency industry to taxations and various forms of regulations.

Cryptocurrency would be the future global currency.

It may be there is no reason why we need to escape from taxations, it is our obligations to pay. In fact, these small contributions will give help to the entire community. But taking into the account that is being controlled by the government, will it something not good and there is no reason why we have to control us.

If the government is doing the needful to the citizen then every citizen will think of it and pay taxes. Reason for escaping from taxation is the corruption that happen within the government. When the hard earnings of us is being eaten by some stupid politicians people want to get out of this taxation. This is where people go for tax evasion and the same is the case with using of cryptocurrencies into gambling.

[emberbekas]

with crypto they can gamble anywhere. crypto will become the future currency for gambling

Governments are equally aware of these fact, as cryptocurrency makes it difficult to track and monitor citizens through their finances. This would factor in as one of the reasons why governments are seeking to gain some form of control over the cryptocurrency industry to taxations and various forms of regulations.

Cryptocurrency would be the future global currency.

Of course, the government is aware of things like that. That is why crypto gamblers, especially those who lives in a country where gambling isn't allowed, have to update their knowledge regularly in this matter. Crypto is not 100% anonymous btw.

[omonuyak]

with crypto they can gamble anywhere. crypto will become the future currency for gambling

Governments are equally aware of these fact, as cryptocurrency makes it difficult to track and monitor citizens through their finances. This would factor in as one of the reasons why governments are seeking to gain some form of control over the cryptocurrency industry to taxations and various forms of regulations.

Cryptocurrency would be the future global currency.

It may be there is no reason why we need to escape from taxations, it is our obligations to pay. In fact, these small contributions will give help to the entire community. But taking into the account that is being controlled by the government, will it something not good and there is no reason why we have to control us.

If the government is doing the needful to the citizen then every citizen will think of it and pay taxes. Reason for escaping from taxation is the corruption that happen within the government. When the hard earnings of us is being eaten by some stupid politicians people want to get out of this taxation. This is where people go for tax evasion and the same is the case with using of cryptocurrencies into gambling.

The government has failed us and that is why some of us can not trust them with our earning. I prefer cryptocurrency for online transactions because my country has no laws now to tax it. Many countries are developing a legal framework to tax cryptocurrency business including gambling and that is why we should work as hard as we can now that those laws are not in place in other to be able to make money that government cannot tax.

[seleme]

with crypto they can gamble anywhere. crypto will become the future currency for gambling

Governments are equally aware of these fact, as cryptocurrency makes it difficult to track and monitor citizens through their finances. This would factor in as one of the reasons why governments are seeking to gain some form of control over the cryptocurrency industry to taxations and various forms of regulations.

Cryptocurrency would be the future global currency.

It may be there is no reason why we need to escape from taxations, it is our obligations to pay. In fact, these small contributions will give help to the entire community. But taking into the account that is being controlled by the government, will it something not good and there is no reason why we have to control us.

If the government is doing the needful to the citizen then every citizen will think of it and pay taxes. Reason for escaping from taxation is the corruption that happen within the government. When the hard earnings of us is being eaten by some stupid politicians people want to get out of this taxation. This is where people go for tax evasion and the same is the case with using of cryptocurrencies into gambling.

The government has failed us and that is why some of us can not trust them with our earning. I prefer cryptocurrency for online transactions because my country has no laws now to tax it. Many countries are developing a legal framework to tax cryptocurrency business including gambling and that is why we should work as hard as we can now that those laws are not in place in other to be able to make money that government cannot tax.

It is true for the individuals but what about the various types of businesses?  They are not as free as us if case is about the tax and liabilities. Gambling can be an exception with shady ways but it will not go forever. Sooner or later governments will find a feasible solution for both parties and this is not something they can not intervene in my opinion.

[Dreamchaser21]

with crypto they can gamble anywhere. crypto will become the future currency for gambling

Governments are equally aware of these fact, as cryptocurrency makes it difficult to track and monitor citizens through their finances. This would factor in as one of the reasons why governments are seeking to gain some form of control over the cryptocurrency industry to taxations and various forms of regulations.

Cryptocurrency would be the future global currency.

I doubt you can gamble anywhere using cryptocurrency because of some restriction on gamblig site though of course you can still play if you really want to change your identity. The government are aware of this and that’ts why some of them already ban crypto gambling, its too bad to be like this but we should always use cryptocurrency in the right way.

[Rufsilf]

Very well, those are good insights you have there though it is a very long topic and I believe not all would take time to read it. Anyways, indeed gambling in cryptocurrencies is becoming more and more popular to gamblers due to multiple reasons, one is anonymity, gamblers wanted to gamble anonymously, another is it is safer and secure when you gamble cryptocurrency its because of blockchain being unhackable and most importantly transactions don’t take so much time to process.

[guoyu78]

One of the main reasons why people use cryptocurrencies for gambling is because they can remain anonymous and they can play even from countries where gambling is restricted. Another advantage of using crypto for gambling is because all deposits and withdrawals are processed in a very short time and most important they work 24/7. Gambling with cryptocurrencies becomes more and more popular every year and I think soon many popular fiat casinos will start using Blockchain technology on their online platforms.

Thats the point! I also gambled because of crypto. what is the problem of the world of gambling currently in the world? Yeah, regulation. it makes it difficult for many people in some countries to gamble using their fiat money because of restrictions, with crypto they can gamble anywhere. crypto will become the future currency for gambling

My country is just too strict and too full of themselves with all their policies and regulations, they don’t even consider what makes other people happy. We have many people that gamble not even for the money aspect of it, but for the fun aspect of it. I am a gambler and I love gambling without getting addicted to it, when I travel to other countries where I can gamble, I am always having this sort of relieve that I left my country because I am in an environment where I can do what I love to do freely.

In my country, they did not only ban gambling for whatever reason they have, they also banned cryptocurrency and are even proposing jail for users of cryptocurrency just like India too is planning to do. One day, this country of mine will end up losing me to a friendlier one.

[radjie]

Very well, those are good insights you have there though it is a very long topic and I believe not all would take time to read it. Anyways, indeed gambling in cryptocurrencies is becoming more and more popular to gamblers due to multiple reasons, one is anonymity, gamblers wanted to gamble anonymously, another is it is safer and secure when you gamble cryptocurrency its because of blockchain being unhackable and most importantly transactions don’t take so much time to process.

most people say that gambling using bitcoin or other potential cryptocurrency is highly favored by gamblers because gamblers want to gamble anonymously and feel more comfortable if bitcoin is used as a transaction tool that can be used to conduct gambling activities globally without having to bother spending money from a personal wallet that we have it

[monalia]

Very well, those are good insights you have there though it is a very long topic and I believe not all would take time to read it. Anyways, indeed gambling in cryptocurrencies is becoming more and more popular to gamblers due to multiple reasons, one is anonymity, gamblers wanted to gamble anonymously, another is it is safer and secure when you gamble cryptocurrency its because of blockchain being unhackable and most importantly transactions don’t take so much time to process.

Anonymous nature is the the most accepted thing for the crypto gamblers. Apart from this there is nothing big answers we can give for gambling adoption with cryptocurrencies.
if you see in this forum or somewhere places Bitcoin is widely used on gambling industry, we can upgrade the cryptos future financial revolution as well.

[adzino]

Or just in other words, the ease of usage is what made crypto currencies a popular choice when gambling. There are people out there that likes to stay anonymous and tends to keep their real life as private as possible. For them, crypto currency is the best choice. Again, among different crypto currency, we can see people loves to bet with bitcoin since it is the most popular crypto currency.