Gambling with Fiat or Crypto?

[Darker45]

What's best for gambling online? Crypto or Fiat? As for me, I'd rather go full crypto than Fiat for many obvious reasons. Crypto may be extremely volatile, but it's anonymous (depending on the coin) and censorship-resistant. Fiat may bring convenience to people that are not tech-savvy enough to understand crypto, but it can easily be traced by worldwide governments.

Crypto enables online casinos to perform their operations in a somewhat anonymous fashion. Both the gambler and the owner benefits from this. But I understand that crypto is still not accepted at physical casinos. In this regard, Fiat is the winner.

Nonetheless, what are your thoughts?

I gamble both on fiat and crypto. Fiat when offline and crypto when online. They are both convenient to use in their own terms. There is a little problem I encounter with crypto gambling though. The particular app I am using in converting crypto to fiat is clear on its terms that any amount coming from online gambling, betting, or casinos are not authorized funds. It is strictly prohibited. I am forced to divert my gambling funds to another wallet before finally depositing them to the app whenever I need cash.

[hahay]

Yes, of course I really like and will choose gambling with crypto, not caring about the limitations that occur in gambling using crypto as said in the OP crypto is still not accepted at physical casinos which means there are still many limitations in this regard, because for me the most important thing is to remain anonymous about gambling. Indeed, online gambling using fiat has lower costs because there is no need to spend as much money as through an exchange, in contrast to crypto gambling which at least we have to go through exchanges when we want to cash it and also make a deposit. This is just about freedom in every country which is different about the rules that apply to gambling itself and I don't think there is a problem about this as long as we can enjoy it.

[maydna]

Nonetheless, what are your thoughts?

Personally I prefer crypto for anonymity, security, transparency, and tax free. It allows me to gamble whenever and wherever I am which gives a lot of advantage to me. Also, when you gamble with crypto, you can assure that no one will judge you no matter how much you win or lose. People wouldn't care at all and you can be able to win a jackpot price without them knowing which is a great feeling for me IMO.

Correct. I guess that will help gamblers like us to stay under the radar from other people if they don't want other people to know their activity while they online on the internet. We will have our time to play gambling without anyone knows what we do. Maybe they will be curious why we are looks busy in our room or using a mobile phone, but if we can explain that we are playing the games only, I think they will not ask more about what we did. Gambling with crypto will give us free to gamble in any games we want.

[akmal1984]

i find this question biased because we are in crypto world so only few will answer fiat or maybe even none.
but lets take it into consideration because i will choose Cryptocurrency as well,this is case to case since there are sites and live casinos that dont accept crypto so if does then theres no choice but to use fiat.

I prefer to use crypto. Honestly I have never gambled using fiat currency at all. My reason is simple, if crypto many sites that provide free so I can use to gamble. I will not experience any losses from it. In fact, I can bring home the results every week how many crypto can I wd from the gambling site.and this has been my routine so far without any problem.

you sure?all those freebies brings you winnings?then you must be rich by now?maybe that's over statement mate.

I'm not looking for a big win. I have reached the minimum wd, so I will immediately wd.After I calculated at a minimum I can produce 0.02 btc each month from the gambling site. There are several sites that I visit often. The 0.02 btc is the result of all of these sites.All depends on focus. If looking for a big win is rather difficult, it's clear the gambling system system will defeat us

[pleasureteam]

I am a crypto believer myself but for me gambling it doesn't matter wether it is in fiat or in crypto.

Lot of crypto casinos, sports book claim to offer anonymous betting but I already had several occasions on several platforms that all of a sudden they need kyc verification. So in the beginning it can be anonymous but when you want a large cashout they still ask your kyc details.
Beside that I have seen many stories of people got their account prozen or locked for no reason, funds confiscated, not receiving their high won amounts. But they can do that. Where in earth do you go to if this happens when it all is anonymous. Most have a simple curaçao gaming license but no further contact details than an email or support chat.

So yeah I like gambling on crypto platforms but only for fun. When I bet large amounts (mostly poker and sportsbooks) I prefer fiat rooms. I do not care to run through the kyc procedure. But I know when I am betting on for example Betfair or playing poker on poker stars I will always receive my winnings even if I would 100k in a poker tournament.


Just imagine what if crypto never have existed. No one would have bothered to do kyc procedure cause gamblers want to gamble and if they need to provide their personal details they would never make an issue out of it. Crypto of course offers some kind of anonymity but well for me that does not make any difference.

Stupid examples

-I started on Sportsbet.io long time ago. no kyc procedure. Then a few months back I won 3,000€ in BTC and then suddenly they requested my personal details and kyc verification. So what is the point of gambling anonymous if they still ask verification when you want to cash out larger sums.

- Lets say you love poker and crypto.

   what do you choose play on an anonymous room with maybe 100-200 players and guaranteed tournaments for peanuts like 100$ in BTC guaranteed or play on pokerstars which have 10,000s of players 24/7 and millions of $ in guaranteed prize pools every single week

[DabsPoorVersion]

i find this question biased because we are in crypto world so only few will answer fiat or maybe even none.
but lets take it into consideration because i will choose Cryptocurrency as well,this is case to case since there are sites and live casinos that dont accept crypto so if does then theres no choice but to use fiat.

I prefer to use crypto. Honestly I have never gambled using fiat currency at all. My reason is simple, if crypto many sites that provide free so I can use to gamble. I will not experience any losses from it. In fact, I can bring home the results every week how many crypto can I wd from the gambling site.and this has been my routine so far without any problem.

you sure?all those freebies brings you winnings?then you must be rich by now?maybe that's over statement mate.

I'm not looking for a big win. I have reached the minimum wd, so I will immediately wd.After I calculated at a minimum I can produce 0.02 btc each month from the gambling site. There are several sites that I visit often. The 0.02 btc is the result of all of these sites.All depends on focus. If looking for a big win is rather difficult, it's clear the gambling system system will defeat us

It's very hard to reach minimum withdrawal just by playing using faucets of a gambling site. I am also using faucets to play but I wasn't able to win in the long run. Faucets only give a little amount of btc to let you play, and it will take a lot of time to earn and you need consecutice winnings to do that. You must be very lucky or you have some strategy to at least achieve minimum withdrawal.

[deisik]

It's very hard to reach minimum withdrawal just by playing using faucets of a gambling site. I am also using faucets to play but I wasn't able to win in the long run. Faucets only give a little amount of btc to let you play, and it will take a lot of time to earn and you need consecutice winnings to do that. You must be very lucky or you have some strategy to at least achieve minimum withdrawal

This is not about Bitcoin only. Most casinos nowadays offer the Dogecoin option, and you can use the cheapness of this coin (in terms of transaction costs) to your own advantage. For example, there can be a sort of free giveaway or faucet which you can claim every now and then (say, when your balance is empty). So you claim free coins, and then bet them all on a very high multiplier (like 100x or so). If you lose, you repeat until you win

When you win and the amount is still below the minimum withdrawal, you simply deposit your own doges, make a couple of bets on a low multiplier, then proceed to withdraw all. To make things clear, I don't use this technique myself as the output is still mostly dust (and it is kind of cheating) but it is working (we used that at PD some years ago with Bitcoin during the so-called "happy hour")

Strong disclaimer: the aforementioned should be considered for educational and informational purposes only

[iamsheikhadil]

It depends on what type of gambling I am doing. If it's traditional gambling like dice, roulette, then I use only and only crypto and not fiat, as it kind of makes me believe that anonymity helps me to win more on games based on our luck. But, in sports gambling, I prefer both cash and crypto because it's not totally luck based.

[huige007]

I go for both, fiat for offline gambling like poker and card games and Cryptocurrency for online gambling sites, fiat and Crypto has their purpose when it comes to gambling, I have a lot of gambler friend who is not yet in to Crypto and we love to play card games and of course they will never accept Cryptocurrency, they want cash or fiat, and when it comes to online I always prefer Crytocurrency, very convenient to use and it's anonymous.

Totally a matter of personal preference. If someone likes to stay home and gets nervous in crowds, online gambling is the right way to enjoy it. Using crypto currencies has its own benefits. Not only will you remain hidden but in case of winnings, the amount of your win increases with time. Traditional gambling has its own pros and cons. The best thing about it is the environment, audience and servings.

[nakamura12]

Totally a matter of personal preference. If someone likes to stay home and gets nervous in crowds, online gambling is the right way to enjoy it. Using crypto currencies has its own benefits. Not only will you remain hidden but in case of winnings, the amount of your win increases with time. Traditional gambling has its own pros and cons. The best thing about it is the environment, audience and servings.

That's what is the most preferred decision to those people who are like that but if not then it's entirely to them on what they willdo if they prefer online where it is easier and you can just stay at home and doing other things too or you will gamble in an actual casino. As of now, there are people who still gamble using fiat.

[Aikidoka]

I don't think that there's a huge difference between whether gambling with fiat or bitcoin, it's all about gambling sites which are based for crypto gambling didn't require your documents like Passport or ID card for verification like in gambling sites using fiat. I think also it's easier to gamble using cryptocurrencies that fiat cause it's always like few clicks and you'll load your account and make your bets and not like gambling sites which accept only fiat.

[pleasureteam]

I don't think that there's a huge difference between whether gambling with fiat or bitcoin, it's all about gambling sites which are based for crypto gambling didn't require your documents like Passport or ID card for verification like in gambling sites using fiat. I think also it's easier to gamble using cryptocurrencies that fiat cause it's always like few clicks and you'll load your account and make your bets and not like gambling sites which accept only fiat.

I don't really agree with that. On fiat bookies I use Neteller, Skrill and paysafecard. all 3 of them do not charge any fee and load my gambling accounts instantly. So there are many ways to fund your account on a fiat gambling site instantly. Even credit card deposits are instant. I think the only method that can take some time is a local bank transfer.
But I prefer skrill and Neteller. deposits and withdrawals lost instantly. If I for example witdraw from pokerstars to skrill I have my withdraw within 20-30 minutes most of the times. it happened once I had to wait for a day or so.

Agree crypto platforms do not require kyc but wait until you make a huge win. There are several that request kyc all of a sudden. and believe me it can be a hassle. saw many cases funds and account getting locked or frozen. So I still prefer gambling on fiat rooms and don't mind doing the kyc procedure

[desticy]

If you do not take into account anonymity, then I prefer to gamble using cryptocurrencies.
Firstly, it is blockchain, which means that the probability that the casino is cheating tends to zero, secondly,

I’m not a very big gambler, but I try to immediately transfer the rest to fiat, after gambling, if possible.
If not, then leave my small amount on the platforms.

I do not see problems with gambling using fiat funds if the jurisdiction of your country does not prohibit casinos.

[Best Dreams]

Nonetheless, what are your thoughts?

Personally I prefer crypto for anonymity, security, transparency, and tax free. It allows me to gamble whenever and wherever I am which gives a lot of advantage to me. Also, when you gamble with crypto, you can assure that no one will judge you no matter how much you win or lose. People wouldn't care at all and you can be able to win a jackpot price without them knowing which is a great feeling for me IMO.

I appreciate your opinion it’s much better to gamble with crypto if you have crypto in a high amount as it feels easy to gamble with it but mate it sometimes feels hard to get an online casino then we can gamble with fiat as well. People prefer crypto because of security and direct payment facilities but when you feel relaxed we can gamble with fiat as well.

[Yamifoud]

It is all about transfers and anonymity are the reasons why we are preferred to used crypto over fiat in gambling but I'm afraid that gambling sites will require KYC to verified our account especially those who have a huge transfer and losses our anonymity at all.

It has to believe that most of us are using both fiat and crypto in gambling. Well, it is an option and I don't think that crypto is accepted in all gambling sites, and not also accepted in offline casinos that it force gamblers to used fiat. And for sometimes that I've converted my crypto to fiat for I have a chance to used it in offline casinos.

[ralle14]

If you do not take into account anonymity, then I prefer to gamble using cryptocurrencies.
Firstly, it is blockchain, which means that the probability that the casino is cheating tends to zero, secondly,

The majority of gambling sites that accept cryptocurrencies are off chain so there's still possibility for them to cheat. Only a few sites still uses on chain gambling the rest are switching to off chain since it's much convenient for the players.

I'm not looking for a big win. I have reached the minimum wd, so I will immediately wd.After I calculated at a minimum I can produce 0.02 btc each month from the gambling site. There are several sites that I visit often. The 0.02 btc is the result of all of these sites.All depends on focus. If looking for a big win is rather difficult, it's clear the gambling system system will defeat us

You're lucky to get away with those winnings, most gambling sites won't allow you to withdraw profits from faucet as it can be seen as faucet abuse.

[Chrystora123]

my personal experience, gambling with crypto is more comfortable than fiat.  Before getting to know crypto, I bet sports at one of the world's biggest gambling sites but to make a deposit is very complicated because I have to do it via credit card...  Betting on crypto gambling sites is easier, we only need to deposit the cryptocurrency recommended by the gambling site and some provide a faucet that makes it easy to bet when gambler runs out of capital.

[cryptoaddictchie]

In my opinion, if the gambling site is very legit then I could enter my bank details for fiat payment. But this is very risky so for me I will choose crypto for gambling and I more than comfortable enough to play without anything to worry about.

 Also the identity is important for me. If that gambling site becomes a scam or bankrupt then how about the details encrypted like bank, name, address that I input? It will be at risk knowing that.

So for me, crypto is the best choice.

[leowonderful]

Eh, I'd rather gamble with crypto online because I don't initially have to submit any verification to gamble, and I've never had any issues with winning large amounts such that sites start asking me for verification, but then again I also look into what sites do this every now and then and I also don't gamble terribly high amounts of money. Doesn't make any sense at the moment to gamble with crypto in a physical casino IMO though, because it's just way easier to pay with almost anything else in that instance, no matter how fast transactions or confirmations might be.

[maydna]

In my opinion, if the gambling site is very legit then I could enter my bank details for fiat payment. But this is very risky so for me I will choose crypto for gambling and I more than comfortable enough to play without anything to worry about.

 Also the identity is important for me. If that gambling site becomes a scam or bankrupt then how about the details encrypted like bank, name, address that I input? It will be at risk knowing that.

So for me, crypto is the best choice.

That is why many of us prefer to choose the crypto gambling site because by using crypto, we can hide our identity to playing gambling and not just for gambling. We can also use crypto for another thing. But even though the gambling site is legit, if the gambling site only uses fiat to deposit and make a bet, then I don't want to register with them because that means I need to send my documents to them. I don't want to give my personal identity for just playing gambling because that will not worth it.