Betting : A big problem to crypto?

[plast555]

Theres nothing wrong unless those online Casinos are government compliant and legally operating. But I doubt that 60% is used for betting it could be lower I guess. The fact that cryptocurrency is like money it can be used anywhere.

There are now thousands of gambling sites in the world that are not blockchain-based. These gambling sites even sponsor football teams. And no state sees a problem with that. Even the states themselves allow users to make sports bets.

But when the blockchain gets involved, does that seem like a problem? Even his argument is quite funny.

Every human being is free and has the right to evaluate fiat assets or digital assets as he wishes.

[aji567]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

it's true that it's not good, but we need to see that crypto has a big influence on everything. Don't judge crypto from one side, but look at the use of crypto and also the positive effects or impacts that we can take on any project.

[ariyzt]

Nothing wrong from that, using cryptocurrency as betting just because cryptocurrency don't have much option function like for buying food or something that aggred by their national or goverment. And Bet site or coin also being populer project for now

[Impaler]

I don't think is a problem for crypto ecosystem. If you just take it as a game its fine. And I think it helps circulation of crypto too. But I also like to have some more use case of crypto than gambling.

[terencio]

As for me, it is not a issue to bet in crypto, but to be obsessive in betting is an issue. Gaming is a big business and it's going to be a large boost in the crypto industry if it's achieved by experts.

[Crypto5060]

How does betting portray crypto in a bad way? The buck of betting is carried out with fiat, safe to say that betting has portrayed fiat in a bad way. People spend their money however they want, as long as it's not illegal it shouldn't be a cause of worry to others.

[aces777]

Betting is not something that is restricted or maybe limited to crypto alone. As a matter of fact, buck of the betting is done using fiat. The bad thing here is not betting in itself, but whether or not anyone involved in it is addicted to it, Addiction can cause bad decision making, which can in turn lead to making some losses financially. bet if need be, but ensure it doesn't become an habit. That's where the problem lies.

[asus09]

Any ideas how to stop betting platform in cryptocurrency, every where I got new IEO and ICO have support and basic betting but I am moslem and never want to be part of betting ICO platform project with have not allowed with my country for joining on betting project, I want to join ICO or IEO have connection with energy.

[blckhawk]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

It really depends on the person's way of looking into gambling. If gambling is not one of your likings, then definitely what you'll see with crypto is it's relation to something illegal. However, if you look at the core nature of crypto and even stock markets, all of it are really a gamble of themselves. You risk by investing, the same way you risk by betting. It's no different to each other, it's just that gambling is associated with games/entertainment and luck while investment is often related to something you could get profit in the long run.

[sjbi]

What is wrong with that? I do not see anything wrong with the use of cryptocurrency for betting. I say cryptocurrency is being used at least for betting. Most of coins are being used for nothing so far except for something like money laundering. It is high time implementing actual goals of crypto projects.

[joseyphil82]

If you come across any crypto betting platform with promising teams do not hesitate to give a try, some said many crypto betting projects died a painful death but the few ones i have seen are doing well than other projects because the demand is very high, its a hugh example of real use case and crypto gambling can indeed help adoption rate better

[Ailmand]

I don't see anything bad about it. Maybe if one will look at it in a religious point of view. Online crypto gambling is famous and I think some crypto investors are here and still in crypto due to gambling. I don't think it is illegal to gamble online so crypto betting being part of the majority of transaction is not something that would harm the whole crypto.

[leea-1334]

Not only the gambling industry, the big effect is it will be able to produce real adoption as these gamblers demand of crypto will grow.
Illegal gambling is only the problem because the government can't impose tax on it, illegal or legal, or non regulated gambling sites, they are still the same when it comes to their offers, they offers entertainment to people but those that are not license, they can mess up with the government as surely the government will always want to get their fair share.

Yes,,, I know a lot of people look at us gamblers as something strange,,, but we can never deny that it was us gamblers who really made the first full use case for blockchain and crypto. Until today we enjoy the things we take for granted. Small bets (try gambling 1/100 cent in a casino), autobets, and most of all provably fair.

But one day, I hope people move away from this headline of adoption and find that we also use crypto for so many other things. If porn and gambling and hate groups are not a big problem to internet, why should gambling be a big problem to crypto?

[rocku12345]

Several years ago was a popular site Directbet. It allowed users to deposit huge amounts in BTC, ETH, DOGE without creating deposits and KYC. For obscure reasons, it closed at the peak of popularity. Today the number of sites for betting is quite large and many of them require creation of account and filling some personal data. These procedures only harms the spirit of betting with cryptocurrency, because I don`t see any need in giving my info to 3rd parties otherwise I could use regular betting companies with fiat.

[FLHippy]

I real love crypto casinos. They are provably fair and there is a option of passive income. More you bet, more you earn tokens that allows you to participate in company´s profit.

[TGD]

I don't see anything bad about it. Maybe if one will look at it in a religious point of view. Online crypto gambling is famous and I think some crypto investors are here and still in crypto due to gambling. I don't think it is illegal to gamble online so crypto betting being part of the majority of transaction is not something that would harm the whole crypto.

Betting is as gambling we cant guarantee earning but we still try since we can earn faster as usual if ever we win. I guess it will depend on how our conscience dictate us mostly it is not allowed in many religions online or physically but if we know in our mind that were getting the money we play with then It is fine. Just don't bet amount you only have, don't risk all in betting even it is tempting due to market condition that we need patience in waiting before we earn since the market is still in bearish season.

[attech21]

Betting is not a problemin cryptocyrrency,but it can be a problem if you play it and lost all your fund without any wins. Your just wasting your fund if ever it happened. Placing a high amount in the bet and lossing also can lead you to a big problem at least you have your back up if your fund goes down but what if you didn't have? Thats the main reason why several people treating it like a problem.

[santiPOGI]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

Nope, even without cryptocurrency gambling and betting is all over the internet.
Even in real money there are casino and some gambling house.
As long as currency exist, what ever it is it will be use for everything.

[Free1bitco.in]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

the use of cryptocurrency as a tool for playing gambling is no longer a secret. Some countries even have their own regulations about this like japan. although according to research that quite a number of countries lost due to gambling games, but it is still being done. in addition, even though they have regulations about it, gambling games based on crypto continue to grow, as said in the article available on the cointelegraph
that is the reality, even in real life some people also describe fiat as a means of playing gambling. You have to get used to it because this can also be found in real life

[Traderlol]

For those of you interestied in gambling and crypto, You might like to take a look at what Kamari are working on.
This recent article is a god place to start - https://www.cio.co.ke/will-blockchain-make-lottery-fairer-in-african-countries/