Is blockchain gambling business beneficial?

[bitgolden]

I don't know why it shouldn't be, it makes deposits easier, withdraws easier, it makes provably fair happen and it is as anon as it gets without actually being too private about it.

I mean of course there could be short comings of blockchain too but considering the other option is fiat it is certainly better.
You can't really just put pros and cons of blockchain gambling without comparing it to other options, fiat is so much worse that even the biggest issue with blockchain looks like a good thing on fiat gambling.

[logicgate]

The benefit of blockchain is people don't have to use their money to play gambling, that is for sure. They can hide their identity while they are playing gambling, and they can feel safe to play gambling without anyone knows. I am sure that in the future, there will be many other platforms that will support the gambling games, and we will going to see the gambling business will grow fast in the future.

That's one of those thing that people wanted to support this industry using blockchain system to hide their identity while enjoying the gambling industry,in the near future more and more gamblers will see this advantage and begin also to support this types of system.

Yes, that is why I see many of my friends are like to gamble using the cryptocurrency because they can hide their identity from anyone. They only need to use the email address and the wallet to join, and they can start gamble with easy. I guess the gambling business will grow fast in the next years because the gamblers itself will have a new way to cover their identity.

  If you are speaking from an investor’s point of view, it is full of huge returns and you could have a great user base if you are the one to offer some great services and in other words, win the trust of the users like Binance did. If you are talking from gambling point of view, you could make money in this area by staying under the mask and enjoying from the comfort of your bed.

[noormcs5]

The benefit of blockchain is people don't have to use their money to play gambling, that is for sure. They can hide their identity while they are playing gambling, and they can feel safe to play gambling without anyone knows. I am sure that in the future, there will be many other platforms that will support the gambling games, and we will going to see the gambling business will grow fast in the future.

That's one of those thing that people wanted to support this industry using blockchain system to hide their identity while enjoying the gambling industry,in the near future more and more gamblers will see this advantage and begin also to support this types of system.

Yes, that is why I see many of my friends are like to gamble using the cryptocurrency because they can hide their identity from anyone. They only need to use the email address and the wallet to join, and they can start gamble with easy. I guess the gambling business will grow fast in the next years because the gamblers itself will have a new way to cover their identity.

  If you are speaking from an investor’s point of view, it is full of huge returns and you could have a great user base if you are the one to offer some great services and in other words, win the trust of the users like Binance did. If you are talking from gambling point of view, you could make money in this area by staying under the mask and enjoying from the comfort of your bed.

Blockchain technology can benefit every field of life including the gambling industry. Since the technology is relatively new, those who can start a real decentralized blockchain gambling platform, it will be a real success for them.

[Ucy]

The benefit of blockchain is people don't have to use their money to play gambling, that is for sure. They can hide their identity while they are playing gambling, and they can feel safe to play gambling without anyone knows. I am sure that in the future, there will be many other platforms that will support the gambling games, and we will going to see the gambling business will grow fast in the future.

That's one of those thing that people wanted to support this industry using blockchain system to hide their identity while enjoying the gambling industry,in the near future more and more gamblers will see this advantage and begin also to support this types of system.

Yes, that is why I see many of my friends are like to gamble using the cryptocurrency because they can hide their identity from anyone. They only need to use the email address and the wallet to join, and they can start gamble with easy. I guess the gambling business will grow fast in the next years because the gamblers itself will have a new way to cover their identity.

People are not really using cryptocurrency based gambling to hide their identities. They probably using it for the convenience. It is global and doesn't have too many restrictions

[mersal]

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

Gambling is a very profitable business idea but not all the gambling sites are in profits now so it depends on how you are running the games.More the players are there then more the profits you can make which needs good advertising strategy,wide choice of games,wide choice of crypto currencies and better customer support.

[virasog]

The benefit of blockchain is people don't have to use their money to play gambling, that is for sure. They can hide their identity while they are playing gambling, and they can feel safe to play gambling without anyone knows. I am sure that in the future, there will be many other platforms that will support the gambling games, and we will going to see the gambling business will grow fast in the future.

That's one of those thing that people wanted to support this industry using blockchain system to hide their identity while enjoying the gambling industry,in the near future more and more gamblers will see this advantage and begin also to support this types of system.

Yes, that is why I see many of my friends are like to gamble using the cryptocurrency because they can hide their identity from anyone. They only need to use the email address and the wallet to join, and they can start gamble with easy. I guess the gambling business will grow fast in the next years because the gamblers itself will have a new way to cover their identity.

People are not really using cryptocurrency based gambling to hide their identities. They probably using it for the convenience. It is global and doesn't have too many restrictions

Before the usage of bitcoin and altcoins in gambling, only those who had credit cards can play the gamble online. But now everyone can play gambling as anyone can deposit bitcoins and play gamble.
Not everyone had credit cards as the process of getting credit card was not so simple, but getting bitcoins and depositing in gambling sites is much more simpler.

[Fredomago]

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

Gambling is a very profitable business idea but not all the gambling sites are in profits now so it depends on how you are running the games.More the players are there then more the profits you can make which needs good advertising strategy,wide choice of games,wide choice of crypto currencies and better customer support.

More players more potential to earned from your business but due to many competitions its hard to earned gamblers trust, many reputable
sites already got the advantage since they established good connections from their regular players, if you wanted to compete from them many
additional ideas and more attractive offers to have.

[whirlcoin]

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

the benefits only come how you can use this opportunity to be a beneficial opportunity because gambling is like giving everything if you use this opportunity properly then the benefits are also give you hands otherwise it will not been suitable for people like who wanted to trust it for long time.

[Janation]

There are many games on blockchain on Asian market. How benefecial is it?

It is not beneficial at all.

There a lot of people getting addicted to it, despite the Asian Market, or wherever that market is, Gambling is so popular and the number of people getting addicted to it is its proof. How can that be beneficial?

And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

There are some but gamers still don't dig it.

There are a lot of way gamers can earn cryptocurrency from games but I don't think that would be that easy. It is still not improved but we can now all see the use of blockchain in the future. Decentralization is inevitable in a world where the internet is not just an interconnected network, it would grow to something that we are used to or even we are living in.

[pixie85]

It is beneficial

to the owners of such businesses.


You can look at the history of gambling in the US. People who were given money and land like some native americans were opening casinos because this was the easiest way to make money and they didn't know any other jobs. They couldn't be hunters anymore so they were running casinos and making a lot of money in the 20th century.

Blockchain gambling is even better just ask Stunna

[Kasabus]

Ain't be the owner of any blockchain gambling business or have a friend with that line of business so its hard to tell that this system is beneficial to them. But as we can see, a lot of casinos and new gambling sites using blockchain technology which I may think that this really a beneficial business.

The system is very close into huge market adoption which makes gambling sites will accept cryptocurrency together with fiat cause as of now, they are focusing more in fiat. Anyway, it is a matter of change and soon will crypto be accepted as a primary currency to be used. 

[sana54210]

Crypto gambling business is one of the most profitable platforms in crypto world for both gambling site and players. It also brings a positive impact in the demand of cryptocurrency in the market. It's beneficial in blockchain technology in so many ways but we can't deny that there are also lapses at times.

So many advantages and lapses indeed. What do we expect online gambling is inherently unfair, the only reason casino earn  money now is when players lose more than they can win and gamblers like us cannot never trust them because we know they are the black box taking all our money, casino sites have that switch they use in turning odds in their favor, I know many do not believe this but it is the truth, many people like me have lost our trust in online gambling.

But blockchain has been able to buy back our trust not because it has made gambling a wonderland where there is guarantee to win always but because of how it helps store records of all games and bets, the amounts we won and the result, we now easily access transactions to be sure it was not manipulated and there should be a percentage going to blockchain for all these.

Honestly, the good Blockchain has done to gambling industry can never be overemphasized. The presence of blockchain in gambling has been greatly felt from the moment it crept into the industry. My problems before now on gambling has always been that results and winnings will definitely be concealed from public scrutiny and this is exactly what Blockchain came to correct by bringing in complete transparency and trust to the industry.

Another very important thing brought in by blockchain in gambling industry which I appreciate is the use of cryptocurrency to make payment, my Bitcoin have greatly increased over the years because of this invention.

[davinchi]

Crypto becomes more popular thru the casinos that accepts cryptocurrencies and I guess those who are fond of gambling even before bitcoin are not getting into crypto just because of the advantages in crypto. Given the number of the gamblers world wide, its going to make blockchain platforms like EOS and TRX more popular in the future.

You could only decide this on the basis of the scale of demand for the online crypto gambling. Since we have had more gamblers in the channel than before, there could be huge profit in the business provided you have the best services. Learn from the mistakes of other people and make sure you come up with innovative solution to the problems to attract demand.

I think we all know already that the number of crypto gamblers has become really high, let’s ignore that there were gamblers before now. A very good illustration is SatoshiDice, we all know how successful the use of crypto has been successful on this site, with daily high demand, if you remember clearly, there was a period it was learnt that they had record of Bitcoin transaction than any other platforms combined.

Gambling sites that accepts cryptocurrency gives an opportunity for players to go way beyond the normal regulatory jurisdiction since crypto does not depend on regulated payment services.

[TheUltraElite]

the benefits only come how you can use this opportunity to be a beneficial opportunity because gambling is like giving everything if you use this opportunity properly then the benefits are also give you hands otherwise it will not been suitable for people like who wanted to trust it for long time.

It is beneficial if you are running your own blockchain and have the bets being made in that. Something that dApp developers have done in the ethereum blockchain and EOS blockchain. Doing so in the bitcoin blockchain leads to the mempool being clogged and delaying transactions - something that I would personally wont like to see in future. We have seen satoshidice at one time being popular on this concept but now the bitcoin network does not want so much stress. So companies who want to develop such projects develop their own blockchain or use such a blockchain which can sustain this high load of transactions.

[Reatim]

If you can handle it right?ofcourse this is beneficial since there are thousand if not millions of gamblers here in crypto community and also from outside this forum

So that’s one assurance how profitable this area of business,but the problem is how we will manage this and can we stand longer?

Governments is one major problem to interfere and also the scam accusations if your service and support don’t hit the criteria of the players

[rosezionjohn]

The fact that nobody controls the outcome in blockchain gambling is good enough reason to call it beneficial imo. Add to that the easy deposit and payout.

[roosbit]

As long as a gambling site limits how much a player can wager the company will always have the monetary benefit as they have the pool protected from high rollerz and besides never heard a company to have the benefit

[semobo]

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

it is based on the Gamblers mind set if he thinks it is all about his business things then it will be definitely business beneficial otherwise most of the people came for good profit and entertainment otherwise no one will think lot more about the gambling for a long time.

[Nellayar]

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

Yes! It is worth and valuable in gambling. Blockchain together with cryptocurrency makes gambling more interesting. Imagine, we can make money using cryptocurrency and gambling. In addition, there are also people who engage in gambling because of cryptocurrency. Just like me, Supposedly I do not know that there is online casino and I found it when I am using cryptocurrency.

[tsaroz]

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

There are many benefits of blockhchain based gambling than a regular online crypto gambling. One of the reason is your wallet itself becomes your ID so you don't need to be creating any accounts. And you can have a different account every time you play. It's easier for a onchain bet to be verified if it's a gamble. Anonymity is another factor which people prefer as many of these users comes from a hostile authoritarian jurisdiction.