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Author Topic: What is or are the contribution of Crypto gambling sites to Crypto Currency  (Read 281 times)
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September 12, 2019, 04:13:07 PM
 #1

We now have hundreds of Crypto gambling sites and many more coming I honestly think, gambling sites contributed a lot to the adoption of Cryptocurrency because even gamblers that do not know about Cryptocurrency adapt and learn how to use it so they can play in these Cryptocurrency gambling sites.

 
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September 12, 2019, 04:28:22 PM
 #2

On the positive side, these gambling sites accepting helped increase the popularity and usage of cryptocurrencies, there's no doubt about that.
On the negative side, it puts bitcoin and other crypto in a bad light in some way.

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September 12, 2019, 04:36:03 PM
Merited by AmoreJaz (1)
 #3

Casino and gambling websites have contributed big time in the growth of bitcoin. I read an article about it long time back about it and below is the link,

https://news.bitcoin.com/bitcoin-gamblers-wagered-4-5-billion-btc-2014/

Remember, the article was written back in April, 2017 and since then, the number of crypto websites have increased many fold as well as the number of crypto users have seen new heights! The 4.5 billion USD has now crossed well over 10 billion USD, I assume!

Cryptos have actually opened up a new world to the gamblers worldwide! Earlier, it was a pain to transfer money from foreign bank account to the gambling account. It used to take more than a day along with an exorbitant fees. Cryptos have paved the way for new funds in this sector while increasing its own adoption rate due to the super convenience it provides to the gamblers!

I believe, online gambling is probably the only major business sector, which has used cryptos the way it has to be used! Not as an investment, but as a currency!

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September 12, 2019, 05:12:00 PM
 #4

It generates transactions of bitcoin and other cryptos, the more generated transactions of bitcoin the more the price has a growth. So, I think these online gambling industries have a better support of crypto and in general Bitcoin. There are a lot of contributions that we may consider in gambling to Bitcoin. Also, have on this good exposure to have massive adoption soon.

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September 12, 2019, 05:19:51 PM
 #5

On the positive side, these gambling sites accepting helped increase the popularity and usage of cryptocurrencies, there's no doubt about that.
On the negative side, it puts bitcoin and other crypto in a bad light in some way.
Then how we do consider those fiat based online gambling sites? Bitcoin/Crypto is only dragged up with that illegal/fraud issue but in gambling? Its not actually considered to be a problem.

Gambling industry is vast or big and its just normal for us to see lots of them popping out and it do definitely gives out more awareness on crypto's existence and this is way more better than fiat ones when it comes to anonymity and ease on making deposits and withdrawals.

 
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September 12, 2019, 05:20:42 PM
 #6

Well, we are well aware that gambling had made a big impact on the community because cryptocurrency and gambling had well adapted to each other because of how the anonymity of cryptocurrency in playing gambling online, this was embraced by most gamblers because of its convenient and fast transaction they can sure play gambling on the comfort of their home, I guess gambling sites really makes bitcoin well known not only to gamblers but most people that are eventually hooked into how easy it is now to play gambling because of the introduction of cryptocurrency, So we can not take out the contribution of gambling is taking a big part in the crypto community.

 
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September 12, 2019, 05:27:09 PM
 #7

We now have hundreds of Crypto gambling sites and many more coming I honestly think, gambling sites contributed a lot to the adoption of Cryptocurrency because even gamblers that do not know about Cryptocurrency adapt and learn how to use it so they can play in these Cryptocurrency gambling sites.
Crypto gambling websites definitely impact cryptocurrencies, I think. There are different aspects of it, some of which can be better and some can be worse, but I'd like to mention the two that seem most relevant to me. The first one is that gambling websites basically offer use cases for cryptocurrencies. That is, people can see how cryptos can actually be used, and not only as money but also for other blockchain-specific things like provably fair gambling, decentralized apps, betting based on smart contracts, etc. This is a very positive aspect, and online gambling is a great example of an area of implementation of cryptocurrencies. On a less positive note, quite some people are strictly against gambling because of the problems it can cause (gambling addiction), so if cryptos are mainly associated with casinos, it can significantly limit the number of potential users of cryptocurrencies.

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September 12, 2019, 05:36:34 PM
 #8

On the positive side, these gambling sites accepting helped increase the popularity and usage of cryptocurrencies, there's no doubt about that.
On the negative side, it puts bitcoin and other crypto in a bad light in some way.
Then how we do consider those fiat based online gambling sites? Bitcoin/Crypto is only dragged up with that illegal/fraud issue but in gambling? Its not actually considered to be a problem.
I've read stories of accounts getting locked for reason like deposits are coming from gambling sites. That's what I had in mind when I said it puts crypto in a bad light in some way.

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September 12, 2019, 06:15:37 PM
 #9

Casino and gambling websites have contributed big time in the growth of bitcoin. I read an article about it long time back about it and below is the link,

https://news.bitcoin.com/bitcoin-gamblers-wagered-4-5-billion-btc-2014/

Remember, the article was written back in April, 2017 and since then, the number of crypto websites have increased many fold as well as the number of crypto users have seen new heights! The 4.5 billion USD has now crossed well over 10 billion USD, I assume!

Cryptos have actually opened up a new world to the gamblers worldwide! Earlier, it was a pain to transfer money from foreign bank account to the gambling account. It used to take more than a day along with an exorbitant fees. Cryptos have paved the way for new funds in this sector while increasing its own adoption rate due to the super convenience it provides to the gamblers!

I believe, online gambling is probably the only major business sector, which has used cryptos the way it has to be used! Not as an investment, but as a currency!

i totally agree with that! the usage of crypto in gambling industry is not on investment side only, but as a tool to access and play on the gambling site. what you can call the real app of crypto in this business!
gambling business is a lucrative business and with the attractive benefits that altcoins are offering to players, no wonder this is one of the businesses out there which is continually growing everyday. the proof can be seen from the increasing number of online casinos being launched in this forum alone.
crypto adoption is undoubtedly one of the major contribution of crypto gambling sites!




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September 12, 2019, 06:40:07 PM
 #10

We now have hundreds of Crypto gambling sites and many more coming I honestly think, gambling sites contributed a lot to the adoption of Cryptocurrency because even gamblers that do not know about Cryptocurrency adapt and learn how to use it so they can play in these Cryptocurrency gambling sites.

Well gambling sites were one of the first major uses cases for cryptocurrencies. Back in the day, the early cryptocurrency casinos were some of the only places where you could spend or use your Bitcoin and other cryptocurrencies.

Because of this, there is a deep history linking cryptocurrencies and gambling, hence why casinos like Windice, Mintdice, Primedice etc are able to generate such immense popularity even in 2019.

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September 12, 2019, 07:12:49 PM
 #11

I've read stories of accounts getting locked for reason like deposits are coming from gambling sites. That's what I had in mind when I said it puts crypto in a bad light in some way.
Yeah, My country was really stricted about the gambling online. In here the police sometime make a patrol at Internet Cafe checking the costumer did he playing a gambling casino like lottery/poker. Some people sometimes got caught and the police bring him to the office police

I tried several my local gambling using a fiat, the problem it's on the Deposit/Withdrawal its need time to verify the transaction around 24h. In cryptocurrency you can only doing that in a few mins, also they cant track my transaction gamble went using a crypto.

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September 12, 2019, 07:29:10 PM
 #12

If users use gambling site here in crypto then cryptocurrency related will all grow because of that like it has impact in market here

Then this brings so much convenience in life like example you need only internet then do this online with your mobile phone compare to real life gambling so if the users gamble with it then they will turn to do it online if they learn how crypto's gambling site works then of course market here grow by that if this will continue and we really experience this base in many gambling site day by day then more are still coming

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September 12, 2019, 07:42:29 PM
 #13

I'm thinking the same, I've seen the crypto gambling industry few years ago and I'm totally completely ignorant on how they run until few experiences and out of curiosity questions to understand it.

Although it wasn't the way that I was introduced to crypto but props to most of them because they have given everyone something different from the traditional casino's and gambling sites that we used to know. They have contributed to adoption of bitcoin and the feature of betting with the smallest amount is what I liked about them and maybe others too.

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September 12, 2019, 07:51:40 PM
 #14

It's more like creating awareness. The constant transaction from gambling sites only improves cryptocurrency circulation and adoption.
I'm guessing new gamblers who are new to cryptocurrency get to know familiaize themselves about crypto through gambling. Hopefully, they will also understand that crypto is not only used for gambling.

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September 12, 2019, 07:58:21 PM
 #15

The crypto gambling sites are helping more people (especially the gamblers) know about crypto currencies. They are introducing gamblers to the world of crypto currencies. After gambling with crypto coins, there are high chances that they will keep a percent of their winnings as crypto for further investment. This further investment will eventually lead them to use it as a regular currency slowly thus helping in adoption of the crypto system.


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September 12, 2019, 08:12:16 PM
 #16

We now have hundreds of Crypto gambling sites and many more coming I honestly think, gambling sites contributed a lot to the adoption of Cryptocurrency because even gamblers that do not know about Cryptocurrency adapt and learn how to use it so they can play in these Cryptocurrency gambling sites.
What crypto casinos did at first was that they attracted a lot of people with high paying faucets, yeah, years ago price was very, very low and those amounts of bitcoins were pretty attractive in numbers, not in usd. So yeah, at some point they speed up adoption of cryptocurrencies among people in overall. Then dice played a huge role in it too, very attractive game which in most cases is played in cryptocurrencies, almost have never seen such game in fiat. And oh, bustabit did some things too.

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September 12, 2019, 08:15:47 PM
 #17

I definitely agree that online casinos help out crypto adoption and awareness as a whole. I know several people that have asked me for assistance with buying and storing BTC in order to use the coins for gambling (because KYC's a pain, and some people live in countries where it's difficult to get an account to gamble), and I'm sure there's plenty more people who use BTC maybe even just for use with gambling. Hopefully some of those people learn more about crypto and use it for a purpose other than depositing and withdrawing from online casinos, but casinos do help.

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September 12, 2019, 08:37:56 PM
 #18

We now have hundreds of Crypto gambling sites and many more coming I honestly think, gambling sites contributed a lot to the adoption of Cryptocurrency because even gamblers that do not know about Cryptocurrency adapt and learn how to use it so they can play in these Cryptocurrency gambling sites.

Most of the gambling site are doing far more better than we expected, for example sportsbet just made a big announcement that they'll be displaying the bitcoin logo to millions of fans all over the whole via their partnered club Watford in the premier league. The sportbooks partnering with football clubs are the ones doing the major job in mainstream publicity of bitcoin, others should learn from them as this will benefit the community in general and also bring in more customers to their sites.

Today we can announce to you that we are putting the Bitcoin Logo on the sleeve of the Watford FC playing strip! This will be a permanent addition and it will be starting this weekend!
This is a worldwide first for such a major sporting organization to embark on and wonderful news for the whole Bitcoin community   Grin Grin


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September 12, 2019, 10:16:10 PM
 #19

you already answer your own question op  . i can never think of any reason anymore.

 gambling site helps crypto but i think crypto also help the gambling site because even before days that internet existed , gambling sites do already exist but the adoption is only small .

 it might be because the payment methods available are hard to access for most people but now cryptos are invented and they more easy. 

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September 12, 2019, 10:33:59 PM
 #20

We now have hundreds of Crypto gambling sites and many more coming I honestly think, gambling sites contributed a lot to the adoption of Cryptocurrency because even gamblers that do not know about Cryptocurrency adapt and learn how to use it so they can play in these Cryptocurrency gambling sites.
Of course, it can allow more gamblers to hold bitcoin as their asset and it causes a massive adoption because there are a lot of gamblers enthusiasts that also now bitcoin enthusiasts. It can create more people who use bitcoin and also the transactions of it will become a massive too and the bitcoin mining will also earn that make transactions very fast. We noticed now that there are a lot of crypto gambling companies because there are also people who like gambling.

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