Gambling activities correlates with Bitcoin's price?

[smyslov]

I am little bit confused about this topic, especially in gambling websites that accept Bitcoins or any cryptocurrencies.

So, we can see more activities on gambling that uses Bitcoin when we are in bull market (price increasing)? And decreases the activities or gambling volumes when also the price of Bitcoin keeps dumping (bear season) ?

I don't know if (we) some normal gamblers would have idea about this or maybe some gambling sites would exactly know this based on their website traffic/bet activities.

I still bet even if the market is bear or bull trend as long as I have the funds to bet, bear or bull it's still on the motivation of the gambler, but bull should motivate the gambler to bet more, because they want to win big and if they win they won a huge amount because the price in the market is now higher, but on the other hand people will still bet in the bear market in the hope that what they've won will be their investment for future price increase.

[Fredomago]

I am little bit confused about this topic, especially in gambling websites that accept Bitcoins or any cryptocurrencies.

So, we can see more activities on gambling that uses Bitcoin when we are in bull market (price increasing)? And decreases the activities or gambling volumes when also the price of Bitcoin keeps dumping (bear season) ?

I don't know if (we) some normal gamblers would have idea about this or maybe some gambling sites would exactly know this based on their website traffic/bet activities.

I still bet even if the market is bear or bull trend as long as I have the funds to bet, bear or bull it's still on the motivation of the gambler, but bull should motivate the gambler to bet more, because they want to win big and if they win they won a huge amount because the price in the market is now higher, but on the other hand people will still bet in the bear market in the hope that what they've won will be their investment for future price increase.

Gamblers will keep playing no matter what situations are there inside the market, as long as they can afford to finance their bankroll they will play and enjoy the game, chances that the numbers of people who gamblers while bull are moving upwards is the reason of some greediness of those who able to earned from crypto and wanted to grow their money, while when earning around is too difficult those people are keeping their coins instead of going to gamble and lose their money.

[Questat]

I don't know how big the crypto gambling industry is, but I doubt it's a billion dollar industry already.
If it did not reach at least 1 billion that means it's just a small portion of the total daily volume of bitcoin and it doesn't affect much the price movement of BTC. Personally, I have never heard any news about crypto gambling that brings hype in the space, usually it's the news that would benefit all the audience in the space, like the Bakkt launch which did not even result to improvement of BTC price.

[teosanru]

I don't think Gamblers use bitcoin because of it's price fluctuations. Gamblers are just people who do things for fun irrespective of how the market is moving they are more concerned with anonymity when it comes to these activities. Moreover even in bear runs gambling sites make similar amount of money as gamblers are more concerned with waging dollars. So I don't think gambling has any correlation with bitcoin's price.

[michellee]

I don't think is there any correlation between the prices of bitcoin and crypto gambling activities,because gamblers who using cryptos mostly change their fiat into cryptos in short time interval before betting so they are not going to have much higher or lower amount from the current fiat value.

Yes, maybe that is because they don't want to go to a real casino, and they want to hide their identity to play gambling. Once people were playing gambling, they will play again the other day. And there is no correlates with bitcoin price because they have another option for the coin to gamble. But indeed, the activities in gambling can be reduced in the decreasing of bitcoin price. Some of them are back to focus on the market to prevent the loss of trading.

[robelneo]

I am little bit confused about this topic, especially in gambling websites that accept Bitcoins or any cryptocurrencies.

So, we can see more activities on gambling that uses Bitcoin when we are in bull market (price increasing)? And decreases the activities or gambling volumes when also the price of Bitcoin keeps dumping (bear season) ?

I don't know if (we) some normal gamblers would have idea about this or maybe some gambling sites would exactly know this based on their website traffic/bet activities.

People have conflicting opinions, on when they gamble bear and bull, but a gambler will have no season to gamble, it still depends on the availability of their funds but in my opinion they tend to gamble in the bull market because they want to win more and they want to take this opportunity to win more coins because it's like winning twice in the bull market.

[DaftAjax]

Yes, maybe that is because they don't want to go to a real casino, and they want to hide their identity to play gambling. Once people were playing gambling, they will play again the other day. And there is no correlates with bitcoin price because they have another option for the coin to gamble. But indeed, the activities in gambling can be reduced in the decreasing of bitcoin price. Some of them are back to focus on the market to prevent the loss of trading.

Unless it is illegal/prohibited to country/region of the said gambler (or a minor), you don't need to hide your identity. I think it is correlated/connected, why(?) because of the exchange. In online gambling sites, it is presented that they're accepting different currencies (cryptocurrencies). That already portrays the obvious, there's an exchange between currencies. And sometimes, there's an exclusive cryptocurrency for that gambling site, so you have to exchange(convert), let's say, your Bitcoin to that exclusive currency, for you to start gambling. So, constant P2P transaction (in this case, the gambler <=> gambling site) makes changes to the market value. I don't know how impactful it is, but it does.

I don't think is there any correlation between the prices of bitcoin and crypto gambling activities,because gamblers who using cryptos mostly change their fiat into cryptos in short time interval before betting so they are not going to have much higher or lower amount from the current fiat value.

You could say that. But the fact that you mentioned, a gambler exchanges his/her fiat money to cryptocurrency first before betting in an online gambling site, can be considered as indirect-correlation.

I dont watch too much statistic about gambling sites.
But if i see on top big player, this year the biggest bet already dropped around 40% if we compare it with last year.
There is also in gambling sites now is like quite. I don't know what happen, but i think that is correlate.
Maybe if price bullish, some people want gamble coin to get maximum profit, but not when price bearish, maybe hard to get it.

Probability is the only statistic that is used in gambling. So I don't think Gambling-Statistics doesn't really correlate with cryptocurrency--but there's a different statistics approach to cryptocurrencies (I hope this isn't confusing).

[rijaljun]

I don't think is there any correlation between the prices of bitcoin and crypto gambling activities,because gamblers who using cryptos mostly change their fiat into cryptos in short time interval before betting so they are not going to have much higher or lower amount from the current fiat value.

You could say that. But the fact that you mentioned, a gambler exchanges his/her fiat money to cryptocurrency first before betting in an online gambling site, can be considered as indirect-correlation.

It may reflect on the price but it could be the reason enough to bring bullish trend and bearish trend depends on how much people gamble on crypto gambling sites?

Yeah, they might be correlated but I don't think the gambling volume is strong enough to move the price whether up or down. Everything is basically has correlation, the problem is that how strong it is.

[Genemind]

As for me, gamblers would definitely use bitcoin during the bull run and try not to use it when the prices are low for the purpose of holding it. We all know that during the bull run, there's also a chance of winning higher than usual in gambling. It's the gamblers who deal with every market situation because their winnings will depend on the prices of altcoins and Bitcoin.

[Lanatsa]

I am little bit confused about this topic, especially in gambling websites that accept Bitcoins or any cryptocurrencies.

So, we can see more activities on gambling that uses Bitcoin when we are in bull market (price increasing)? And decreases the activities or gambling volumes when also the price of Bitcoin keeps dumping (bear season) ?

I don't know if (we) some normal gamblers would have idea about this or maybe some gambling sites would exactly know this based on their website traffic/bet activities.

In overall aspect I don't see for bitcoins price to be a major hindrance for players to play on a certain gambling site.

They would play as they like and wouldn't matter if the price is going down or up as long they do know that they can possibly
able to earn some money if they do win in gambling.

Some might mind on their btc holdings in usd value but I'm sure that most of the players doesn't really care at all.

[DaftAjax]

Yeah, they might be correlated but I don't think the gambling volume is strong enough to move the price whether up or down. Everything is basically has correlation, the problem is that how strong it is.

Exactly. I believe that there's a correlation. We just don't know how impactful it really is to the market value. Now I'm really curious about what activity/phenomenon strongly correlates to its market value, the big contributor. I was about to say, whales(?), but I remembered last December 2017. It was they who made it happen; it was also them who made the bubble.

I wish I could see a graph of some sort on what/which are correlated to Bitcoin's market value.

It may reflect on the price but it could be the reason enough to bring bullish trend and bearish trend depends on how much people gamble on crypto gambling sites?

No, I don't think that would be enough to make any bullish or bearish trend. I believe that the gamlbing population isn't really that big (I'm pretty sure whales also gamble, but they won't spend 'that much' because they tend to do everything just to secure their money).

[coin-investor]

I am little bit confused about this topic, especially in gambling websites that accept Bitcoins or any cryptocurrencies.

So, we can see more activities on gambling that uses Bitcoin when we are in bull market (price increasing)? And decreases the activities or gambling volumes when also the price of Bitcoin keeps dumping (bear season) ?

I don't know if (we) some normal gamblers would have idea about this or maybe some gambling sites would exactly know this based on their website traffic/bet activities.

There's no correct data I suppose, each gambling sites has it's own time when gambler prefers to gamble, but I think gambler, prefer to gambling in the bear market because this is the time when trade their coin to other coins and other prefer to gamble, I'm saying this based on my experienced and all my friends, but still goes on funding and if the gambler wants to gamble.

[peter0425]

I don't think is there any correlation between the prices of bitcoin and crypto gambling activities,because gamblers who using cryptos mostly change their fiat into cryptos in short time interval before betting so they are not going to have much higher or lower amount from the current fiat value.

You could say that. But the fact that you mentioned, a gambler exchanges his/her fiat money to cryptocurrency first before betting in an online gambling site, can be considered as indirect-correlation.

It may reflect on the price but it could be the reason enough to bring bullish trend and bearish trend depends on how much people gamble on crypto gambling sites?

Yeah, they might be correlated but I don't think the gambling volume is strong enough to move the price whether up or down. Everything is basically has correlation, the problem is that how strong it is.

Or maybe if there are some growth effect is too little that’s not enough to move the price high,gambling industry in crypto is a large market and mak the Cryptocurrency circulates more compared to the amount held by some small holders that only helps market circulations when they sell or by which happen very seldom and rare

As for me, gamblers would definitely use bitcoin during the bull run and try not to use it when the prices are low for the purpose of holding it. We all know that during the bull run, there's also a chance of winning higher than usual in gambling. It's the gamblers who deal with every market situation because their winnings will depend on the prices of altcoins and Bitcoin.

Lol that’s another story mate 😂

Gamblers will gamble even wht coins they are using and depend on availability.because it’s more important to bet than to hold

[BChydro]

So, we can see more activities on gambling that uses Bitcoin when we are in bull market (price increasing)? And decreases the activities or gambling volumes when also the price of Bitcoin keeps dumping (bear season) ?

I thought about the opposite, when ever the price of bitcoin goes down there will be more people risking the coins to accumulate rather than when the price is rallying. I usually does not gamble when the price is really high but hardcore gamblers does not care about the price, to understand the true answer to this we need to compare the gambling site statistics.

[MonsterV]

Well I think the same as some people here, that gambling and bitcoin prices do not correlate. Those who gamble will continue to gamble without being affected by fluctuations in the price of bitcoin, although sometimes there are some people who think otherwise when the price of bitcoin rises. The difference is, only when it's bearish and bullish, when it's bearish I'm sure most gamblers will buy more bitcoin and vice versa.

I myself too, when it is bearish I will return to gambling and when it is bullish I will return to trading. In my opinion, this is just a matter of strategy and money management.

[GiannisK]

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[wxa7115]

I am little bit confused about this topic, especially in gambling websites that accept Bitcoins or any cryptocurrencies.

So, we can see more activities on gambling that uses Bitcoin when we are in bull market (price increasing)? And decreases the activities or gambling volumes when also the price of Bitcoin keeps dumping (bear season) ?

I don't know if (we) some normal gamblers would have idea about this or maybe some gambling sites would exactly know this based on their website traffic/bet activities.

That is an interesting theory but it is one that it will be very difficult to prove because not many casinos are going to want to make that information public, however it is entirely possible that as the price of bitcoin increases gamblers feel that they have an opportunity to earn more money in the casinos if they use their bitcoin and they feel the opposite way when the price begins to go down.

But I do not understand, what it is the point of knowing that information? Do you think that you could use the volume of bitcoin on gambling sites as some kind of technical indicator that could tell you when the price of bitcoin is going to go up or down?

[DaftAjax]

No, I don't think that would be enough to make any bullish or bearish trend. I believe that the gamlbing population isn't really that big (I'm pretty sure whales also gamble, but they won't spend 'that much' because they tend to do everything just to secure their money).

If the volume of cryptos used for gambling is not enough to alter the market condition then how it can be responsible for the price changes in bullish and bearish trend as mentioned in OP.

You might've misunderstood. Yes, the OP did mention both bullish and bearish trends, but he never claimed that it is responsible for the price changes. In fact, he's just asking questions, if the number of gamblers increases when it is in the bullish trend and if the number of gamblers decreases when it is in the bearish trend, he just wanted to clarify. To make it simple, if Bitcoin's price increase does the number of gamblers also increase and vice-versa.

The matter that is being discussed (to whom you replied) is a bit about, if this is true, then does that also mean that Gambling activities contribute to Bitcoin's price (something like that).

[qwertyup23]

This depends on the losses of the person if he/she wants to recover his/her investments.

Generally, if prices of BTCs are low people are more inclined to gamble due to having lower fees. In addition, people who incurred loss in the process would want to recover their investments through a method that may yield them high-returns with a higher-risk. Instinctively, they get desensitized and think about recovering everything that is why they proceed to gamble.

On the other hand, if prices of BTCs are high, people would want to invest their money in hope of incurring high-returns. Persons who gamble their resources would want to invest than to gamble their precious resources.

[fortunecrypto]

Reading to all the comments there is no majority answer there are who favor gambling in the bear market and there are in bull market, but one thing is sure people will gamble whenever they have funds to gamble in regards to the situation, bear or bull, there are who gamble on bull market because he already made profit from the bull and there are people who gamble in the bear, hoping to double their winning to prepare themselves in the bear market.