Betting feature at exchange

[Ryker1]

Wouldn't the exchanges need extra legit licenses to run a part of gambling site? I'm talking about the good and top-rated one's and not Yobit. They abide by the AML policies and probably pay taxes. There is no way they will be allowed to carry gambling operations without proper legal permission.

Having said that, they will just need to convert their traffic into gamblers by providing lucrative offers to rewards. They already have the traffic, it's a win-win situation.

Maybe they have respective licenses as I've seen several exchanges integrated by casino games like crex - they have dice and blackjack. But I don't know about their licenses if they do have. If they are running legit, more than likely they secure their gambling permits as well.

Well, I am also curious about this. If you run an exchange and get a license it means that is separate when you are also running a gambling site? This is not new for me that there is a betting feature that has an exchange feature. But when it comes legitimation I don't know how they process on it. Indeed, as OP stated that is very common now running two businesses feature in under in one company name.

[STT]

Isn't the "Buy" and "Sell" buttons already a gambling feature for these exchanges?  

Holding BTC and then gambling has a double risk to it, its common for currency hedges to be taken out in many companies exposures to even 'normal' FIAT markets.   Everything has a cost and a risk to it.     Theres definitely a crossover between the two sectors/subjects so I cant blame the company for trying to sell another product to their existing customer base.

Wouldn't the exchanges need extra legit licenses to run a part of gambling site?

I dont see why it should be much different, both can involve total losses if people can make leveraged bets for or against a crypto currency.   Why would it really need much more, just the normal anti laundering legislation perhaps.  
  If they start selling houses or cars then fair enough, if its just another finance product and the results of this one is a dice scenario I'd only see it as government red tape wasting peoples time.    

[maydna]

Many of us have thought about yobit in the first time because yobit have a gambling game in their website. Related to the topic, I guess that traders can play gambling inside the exchange while they trade. While they are waiting for the market moves, they can spend their time playing gambling and who knows they can win the game with a lot of coins available on that site. But I don't know if that will make that site can gain more visitor/traders to their site because that will need promotion on everywhere. I don't click the link, so I don't know about the site, I just too afraid to get something suspicious.

[MonsterV]

There is betting feature exchange and that is Yobit exchange but unfortunately, they have a bunch of accusation and it means bad reputation. That is normal for me that exchange platform has also gambling platform or just we say vice versa gambling platform at the same time exchange platform. Windice.io gambling also has exchange but those selective altcoins that you might exchange like Bitcoin, Doge, Ethereum and Litecoin.

But to me it sounds strange if the trading platform adds a gambling feature because it doesn't fit their basic objectives, at least if they want to add a gambling feature, they have to make a new platform that runs under their trading platform, it's better than being merged. But if the gambling platform adds an exchange feature, I think it's normal as long as it's just an ordinary exchange feature for exchanging coins and not an exchange that is specific to traders. I hope you understand what I mean.

[JohnBitCo]

Wouldn't the exchanges need extra legit licenses to run a part of gambling site? I'm talking about the good and top-rated one's and not Yobit. They abide by the AML policies and probably pay taxes. There is no way they will be allowed to carry gambling operations without proper legal permission.

Having said that, they will just need to convert their traffic into gamblers by providing lucrative offers to rewards. They already have the traffic, it's a win-win situation.

Maybe they have respective licenses as I've seen several exchanges integrated by casino games like crex - they have dice and blackjack. But I don't know about their licenses if they do have. If they are running legit, more than likely they secure their gambling permits as well.

I never like the idea of having exchange and gambling casino at the same site. Both of them are different and it does not match to have both services in the same place. That's the one reason why the good exchanges do not have any gambling features and good casino do not have exchanges platform on their sites.

[FIFA worldcup]

Isn't the "Buy" and "Sell" buttons already a gambling feature for these exchanges?  

Kidding aside, adding that feature is a good way to double or completely lose the little funds that you can no longer withdraw from exchanges

To some extent you may say that trading crypto is like gambling but it is not purely gambling. You have the ability to take decision on your study and knowledge and in case of bad trade , you can hold and recover (this ability is not available in gambling).

Maybe for those who are both trader and gamblers, having both features at single place is good for them.

[joniboini]

I never like the idea of having exchange and gambling casino at the same site. Both of them are different and it does not match to have both services in the same place. That's the one reason why the good exchanges do not have any gambling features and good casino do not have exchanges platform on their sites.

I think it's just a matter of preferences.

You can simply use 1 website with 2 different homepages for each product. Say, a.com/exchange, a.com/gambling. It could save your cost too as you don't have to pay for 2 domains.

There are no fundamental problems when they decide to run 2 kinds of business at the same time, as long as they can serve their customer well.

[Fredomago]

Isn't the "Buy" and "Sell" buttons already a gambling feature for these exchanges?  

Kidding aside, adding that feature is a good way to double or completely lose the little funds that you can no longer withdraw from exchanges

To some extent you may say that trading crypto is like gambling but it is not purely gambling. You have the ability to take decision on your study and knowledge and in case of bad trade , you can hold and recover (this ability is not available in gambling).

Maybe for those who are both trader and gamblers, having both features at single place is good for them.

Yes, for those who are capable of doing both gambling and trading will favor this kind of additions to their activities inside exchange, though it's really risky when you are going to gamble with your fate instead of focusing dealing with Chances using skills and knowledge anticipating the next possible position of your trading assets.

[JohnBitCo]

I never like the idea of having exchange and gambling casino at the same site. Both of them are different and it does not match to have both services in the same place. That's the one reason why the good exchanges do not have any gambling features and good casino do not have exchanges platform on their sites.

I think it's just a matter of preferences.

You can simply use 1 website with 2 different homepages for each product. Say, a.com/exchange, a.com/gambling. It could save your cost too as you don't have to pay for 2 domains.

There are no fundamental problems when they decide to run 2 kinds of business at the same time, as long as they can serve their customer well.

Well, you know that gambling and trading have a lot of scope and they are not small businesses. It is difficult for a single team to handle both of these at a mass level.
Have you heard of a person who is Jack of all trades and a one who is professional in one skill and is therefore perfect in that. 

[TheUltraElite]

Some exchanges does have the feature of gambling. Its not their main source but its exists like on yobit and livecoin there is such a dice game. I believe these gambling games were introduced for two reasons:
1. Break the monotony of trading and give them something else to put their money on in times of a bear market or stagnant market.
2. Additional source of income for the exchange - because anyone playing will lose to the house edge at one time.

So it is basically another method for the exchanges to prey on traders. They are risk takers after all.
Not that they are forcing you to play but it is there if you want to. Probably OP's site has introduced something similar.

[TheCoinGrabber]

I haven't tried this exchange yet but if they got the proper licenses to operate a gambling feature as well, I don't see any problem with that. I don't think it is going to be annoying to existing customers since it's a separate feature. I don't think they'll be forced to try to gamble there.

On the other-hand if they so chooses, it'll be more convenient for them since they no longer have to send the money to a different casino and possibly go through delays, not to mention additional fees.

[Astargath]

Many of us have thought about yobit in the first time because yobit have a gambling game in their website. Related to the topic, I guess that traders can play gambling inside the exchange while they trade. While they are waiting for the market moves, they can spend their time playing gambling and who knows they can win the game with a lot of coins available on that site. But I don't know if that will make that site can gain more visitor/traders to their site because that will need promotion on everywhere. I don't click the link, so I don't know about the site, I just too afraid to get something suspicious.

I think we all learned how shitty Yobit is, the only reason a legit exchange would offer a gambling feature would be greed. I still don't see the point of doing that inside an exchange when they can simply create another platform dedicated to gambling.

[bitcoin-shark]

i am pleased to hear about a new bet feature on topbtc, i believe that pure traders will simply ignore it, but somehow will succeed in attracting new users to the exchange...

[panjul07]

Reminds me about yobit which was the first exchange that add gambling game at the main site but the game is not provably fair. How about the game at TOPBTC? I'm not a user of TOPBTC so I do not know about it yet, if it is good gambling games which is provably fair then I do think it is OK. Users are free to decide whether to use the new feature or not, I think the main purpose of adding gambling game is to boost more income for the exchange as well as to provide more fun for users.

[Mahanton]

Reminds me about yobit which was the first exchange that add gambling game at the main site but the game is not provably fair. How about the game at TOPBTC? I'm not a user of TOPBTC so I do not know about it yet, if it is good gambling games which is provably fair then I do think it is OK. Users are free to decide whether to use the new feature or not, I think the main purpose of adding gambling game is to boost more income for the exchange as well as to provide more fun for users.

I also remember Yobit for this matter where they do have that very shady dice game but eventually they do remove it afterwards.I don't know on whats the reason but these shady stuff is non surprising for a shady exchange.For other sites or exchange I didn't see that someone do put up gambling feature.I haven't hear about TOPBTC too and I might check it out later on.

[Saisher]

Maybe its not the first topic, but I can't find a topic regarding this issue.

Guys, what you think about betting feature at the exchange?
As far as I know, exchangers are a place for traders, not gamblers.

Today I got an official email from TOPBTC about that feature.

TopBTC has been widely released after the launch of the beta version of HashBet online games

Interestingly, TOPBTC users can enter the feature without register.

So, will this feature make new visitors/users increase? Or it will make trader annoying?

Some traders are gamblers, the majority of traders will find this new feature interesting, now they will not have to look or go to other betting sites to bet, there is no need to transfer their coins from the exchange to a betting site, it will have positive effects on both exchange and members

[coin-investor]

Maybe its not the first topic, but I can't find a topic regarding this issue.

Guys, what you think about betting feature at the exchange?
As far as I know, exchangers are a place for traders, not gamblers.

Today I got an official email from TOPBTC about that feature.

TopBTC has been widely released after the launch of the beta version of HashBet online games

Interestingly, TOPBTC users can enter the feature without register.

So, will this feature make new visitors/users increase? Or it will make trader annoying?

TopBtc is the first exchange that integrates betting features, and I find this cool and I don't think traders will be annoyed by this additional feature, for one I'm pretty sure they will create a separate page for this, or they can opt to use a subdomain for their betting.

Either way, it has a positive effect on traders who can spend time while waiting for a good price to trade.
This is something new if successful, we will see other exchanges doing the same thing.

[aioc]

The first time I found a gambling option on an exchange was yobit. They have a dice with 2% house edge that supports multiple currencies.
Trading and the hot topic of this time, margin trading are a form of gambling but dice and other betting do bring some fun to the exchange. But I'd still prefer an exchange without gambling option as I have my priorities for different places.

Yes they have one integrated with their dashboard, you will enjoy playing the dice game while waiting for a good price in all your coins or to get your orders completed, but I doubt if this is fair game, I still prefer gambling dedicated sites, because it's their business to make their platform as fair as possible.

[Vishnu.Reang]

I have been saying this for quite sometime now. Emerging crypto ventures should concentrate on their main expertise for at least 2-3 years before trying to diversify. Exchanges should concentrate on their platform and make it more secure, before they jump in to gambling. A lot many of the users are afraid to use the exchanges now, as every now and then the news comes out of some exchange getting hacked. We have gambling sites that accept deposits in cryptocurrency if we want to gamble. We don't need the exchanges for that.

Jack of all trades, master of none (credits to Robert Greene).

[Polar91]

Isn't the "Buy" and "Sell" buttons already a gambling feature for these exchanges?  

You got it. These buttons are already gambling for newbie traders 
Seriously, it'll be a good idea to put a gambling feature in crypto exchange. This will lessen the burden of the traders who didn't make any profit for a day. Also, a trader won't need to log in another account for him to gamble after trading this it's less hassle. On the other hand, in forex I think they are doing and it's called Binary Option (Please correct me if I wrong).