Betting feature at exchange

[jrrsparkles]

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).

I believe this is an opportunity for the traders to lose more money without going to another site because we already knew that no one is going to profitable on gambling as long as they were betting,they have to live with that hope.

[RivAngE]

TopBTC looks like another scummy, dead exchange which is used by bots alone.
I tried to ready this betting related announcement you linked, but I couldn't understand much through their terrible English. Another Chinese exchange I suppose?

I don't see it as anything useful really, as someone said very accurately... "Jack of all trades, master of none", though the "all trades" part is not very accurate here! 

[nakamura12]

IMO, if an exchange has betting feature then the users will increase or not because it depends on the users if they are interested to an exchange that has betting feature.

it will increase the user because traders are risk takers and what they doing is already considered as a gambling  . this was also the reason on why trading exchange owners comes up with the idea like this and the same as gambling owners that sets up a trading feature inside thier platform for extra income .

ive seen alot of trading exchange that has a gambling feature  and i think that was cool because traders will not get bored if they are waiting for thier orders/transactions  to be procesed  .

It's what I just stated in my previous reply that the users in a betting exchange will increase or not. You get my point? It may increase or it will stay the same as it was. You are right and it is true that traders are indeed risk takers. Why not use a betting exchange sites the same as Betfair, Fairlay and BetBTC.

[joshy23]

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.

That's one of the benefits if there's something like this inside exchange you can take some game for your past time if you can get away of being engaged too much and be so addicted as you'll be ruining your chances to earned but also chances to burned everything out if you mismanaged your investment.

[DarkDays]

Exchanges will never implement a betting feature simply because they are in the business of maintaining good customer relations over the long term. Beyond this, since the great majority of trade volume comes from institutional traders, high-frequency traders (e.g. trading bots) and hedge funds, the betting tools would only appeal to a small fraction of their user base.

I think your best bet is to use a casino with build-in exchange functionality, because vice-versa aint happening.

[maydna]

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

I think that is no problem for the exchange, and perhaps they want to grow their business by creating gambling games so they can gain new user to come to their site. People will get two option for making money, and they can use one of them or both to make money.

Interestingly, TOPBTC users can enter the feature without register.

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

I guess that will attract more user to trade and to gamble in that site. I don't think that will make a trader annoying because each trader will have their reason why they use the site, and if some of them are using the site for trading and gambling, then it's up to them. Besides that, the feature will help gamblers to play with ease, and they can hide their email.

[mirakal]

IMO, if the exchange is regulated, they cannot put a betting platform on it because it's 2 different platform.
However, if they can and the exchange is reputable, then I think that's good for us gamblers and traders at the same time since we can easily trading coins and we don't need to use other exchanges to do that.

I haven't use the exchange you shared yet, but during my early stage in crypto, I have only seen one exchange which has betting feature, actually it's a dice game and that was Yobit Exchange.

[Becky666]

Let me start by saying this; if its not an exchange then its a gambling platform and if its a gambling platform then its an exchange, don't combine the two into one because it can't be successful though. Specialties matters when it come to cryptocurrency as many competitors are out there to compect with others. If its an exchange, you stand a chance of be successful or gambling platform you stand a  chance of be successful but with both, success is dwindle.

[Betwrong]

I think adding betting feature to an exchange is a bad idea because those are different business models. You shouldn't serve sushi at a pizzeria, and yet some places are doing just that. I think Yobit, mentioned in this thread couple of times, is a good example of what a crypto exchange shouldn't be so the dice game on the site doesn't speak in favor of adding this feature to an exchange.

[leowonderful]

Pretty odd combination, regulations involved with operating the exchange and the casino might get in the way but I don't see this being particularly successful anywhere simply because they're very unrelated, and I don't think any major exchanges are going to implement this feature. If I ever wanted to bet I'd just deposit coins from my hot wallet rather than using coins from my exchange account, and I typically trade on larger and more reputable exchanges unlike YoBit and TopBTC.

Might work on margin/leveraged trading sites where people essentially gamble with 100x leverage though.

[vintages]

I will never even play or use any exchange that has a gambling features, in it.
This is them calling me to spend all my funds in gambling.
An should exchange to stick to what they know best which is providing a better platform for traders. And not involving in 'Jack of all trades' yet becoming less reliable.

[Oceat]

Yet another weird idea again that i've come to witness.

Regulations might change a little bit here if this idea would come to reality but i have a feeling that it won't work for a platform that used to be for trading and not for gambling. Two different platforms in a single platform is kind of odd if you think about it.

Aren't these traders are stressed already with the market situation and yet you have to add some fun yet stressing gambling on a trading platform?

[boyptc]

I have only seen one exchange which has betting feature, actually it's a dice game and that was Yobit Exchange.

I've played there before with their free coins.

I think that it's fine to have that kind of feature on any exchange as long as they will remain focus on their service. Adding a dice game or any sort of gambling game to their exchange is probably just to kill time while trading.

[Hypnosis00]

Yet another weird idea again that i've come to witness.

Regulations might change a little bit here if this idea would come to reality but i have a feeling that it won't work for a platform that used to be for trading and not for gambling. Two different platforms in a single platform is kind of odd if you think about it.

Aren't these traders are stressed already with the market situation and yet you have to add some fun yet stressing gambling on a trading platform?

I don't think it is a good idea to be in gambling while trading, it only makes out of focus into our trades and could possibly be reason to lose.
It can be entertaining those exchanges that have some features of gambling just like dice games. But we can't make to things at a time, gambling and trading.

[Hamphser]

I have only seen one exchange which has betting feature, actually it's a dice game and that was Yobit Exchange.

I've played there before with their free coins.

I think that it's fine to have that kind of feature on any exchange as long as they will remain focus on their service. Adding a dice game or any sort of gambling game to their exchange is probably just to kill time while trading.

I don't think it will help at all even if you say it will just gonna kill some time because you are trading, it doesn't work that way. You have to get focus on what you were doing but because of gambling you might lost that concentration since you were playing already and then you just realize that you just missed the great opportunity. Remember that the market is always changing due to its high volatility movement.

[GreatArkansas]

Regulations might change a little bit here if this idea would come to reality but i have a feeling that it won't work for a platform that used to be for trading and not for gambling.
~...
Aren't these traders are stressed already with the market situation and yet you have to add some fun yet stressing gambling on a trading platform?

This is also the first things comes to my mind. Trading cryptocurrencies has it's own regulations for each countries and beside that, the online gambling too, right?
I think there are some county allowed trading cryptocurrency while gambling is more likely prohibited or vice versa.

If the purpose of adding gambling feature on an exchange is just for fun, maybe they could not use anymore the balance of every trader, because what if you lost also in gambling there while you lost also some of your trade positions? You are totally rekt then.

[Oceat]

Yet another weird idea again that i've come to witness.

Regulations might change a little bit here if this idea would come to reality but i have a feeling that it won't work for a platform that used to be for trading and not for gambling. Two different platforms in a single platform is kind of odd if you think about it.

Aren't these traders are stressed already with the market situation and yet you have to add some fun yet stressing gambling on a trading platform?

I don't think it is a good idea to be in gambling while trading, it only makes out of focus into our trades and could possibly be reason to lose.
It can be entertaining those exchanges that have some features of gambling just like dice games. But we can't make to things at a time, gambling and trading.

For me, this feature sounds like they don't want you to take those profit from trading with you. They plan it all along just to kill some time but at the same time losing your focus on trading that somehow will keep yourself busy playing their gambling games.

I am really curious about of this trading and gambling thing in a single site.

[boyptc]

I have only seen one exchange which has betting feature, actually it's a dice game and that was Yobit Exchange.

I've played there before with their free coins.

I think that it's fine to have that kind of feature on any exchange as long as they will remain focus on their service. Adding a dice game or any sort of gambling game to their exchange is probably just to kill time while trading.

I don't think it will help at all even if you say it will just gonna kill some time because you are trading, it doesn't work that way. You have to get focus on what you were doing but because of gambling you might lost that concentration since you were playing already and then you just realize that you just missed the great opportunity. Remember that the market is always changing due to its high volatility movement.

There are traders that are waiting for a certain price before selling so while waiting for that, open a new tab and dice for few sats.

No one is obliged to use their feature but still there are gamblers that use it as sort of recreation.

[jrrsparkles]

If the purpose of adding gambling feature on an exchange is just for fun, maybe they could not use anymore the balance of every trader, because what if you lost also in gambling there while you lost also some of your trade positions? You are totally rekt then.

No matter if it is a gambling site or trading exchange all they want is profit so they never going to restrict for the amount you are using because bigger you trade the greater the commission they will get and when it comes to gambling they will get all of your money if you lose on the bests.For them its business idea to make more money but a trader needs to use it as no more than a fun part.

[Questat]

If the purpose of adding gambling feature on an exchange is just for fun, .

They put a gambling site for one purpose, which is to be profitable.
Although they will say that, "hey, play for fun because this is for fun", that doesn't mean they mean it because at the end of the day, they still make money since they always have the advantage, in short, they are adding that feature to maximize their income.