Gambling with Fiat or Crypto?

[batang_bitcoin]

I do not gambling with fiat money because it is illegal in my country. There are legal casinos but the thing is it is very hassle because you need to go there in order to play and also their is a specific age in order to enter the casinos. I do gambling with cryptocurrency because it is not hassle. I can easily gamble my money by just creating an account in a gambling site. There is also gambling site that doesn't need my identity and for me it is better than to play in gambling with a requirements such as ID verification and many more.

What is that country? it's confusing as you have said gambling with cash is illegal then why is it that there are legal casinos? Does your government only allows its citizen to gamble to respective casinos that are legal and prohibits outside gambling like in public places that has no license to operate?
Base on your explanation, it got me confused of what's really the status of your country regards to gambling physically. But it's all good if you are okay gambling with crypto which makes you safe if your government doesn't allow people to gamble everywhere.

[Kurokonobasuke]

I do not gambling with fiat money because it is illegal in my country. There are legal casinos but the thing is it is very hassle because you need to go there in order to play and also their is a specific age in order to enter the casinos. I do gambling with cryptocurrency because it is not hassle. I can easily gamble my money by just creating an account in a gambling site. There is also gambling site that doesn't need my identity and for me it is better than to play in gambling with a requirements such as ID verification and many more.

The fact is that legal casino charges tax to their customers which is bad for me in my opinion because the government is taking advantge of our profit. I'm not against that but if we can gamble without being taxed, then why shouln't we? That can only be possible by gambling illegally or gambling with cryptocurrency that's why some of us prefer gambling with crypto IMO. On the other hand, it's still fun to gamble with real casino because we see the game personally. It's not hassle if we have time to go out somewhere else.

[avikz]

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?

You should start a poll so that the result can be seen by the members!

The decision entirely depends on the country of residence. If gambling is legal in a country and the tax rate is low, anyone would prefer to play with fiat. Online casinos would not have much scope there! However, if gambling is legally banned in a country, the players would definitely choose to play with crypto because of anonymity it offers. So the matter is entirely situational. 

[trickshot22]

It depends on the person what they think the best way to use it in gambling is either crypto or fiat, but for me what we used as long as we win is good. But for sure we can convert to fiat after we play gambling using crypto if we win. But I don't want to play gambling for myself by using cryptocurrency because I'm a big fan of cryptocurrencies and it looks like we're using chips and after we're playing we're converting into our money fiat. I'm not shocked if most players prefer crypto because we're clearly in the crypto culture.

[MyIdeas]

I do not gambling with fiat money because it is illegal in my country. There are legal casinos but the thing is it is very hassle because you need to go there in order to play and also their is a specific age in order to enter the casinos. I do gambling with cryptocurrency because it is not hassle. I can easily gamble my money by just creating an account in a gambling site. There is also gambling site that doesn't need my identity and for me it is better than to play in gambling with a requirements such as ID verification and many more.

What is that country? it's confusing as you have said gambling with cash is illegal then why is it that there are legal casinos? Does your government only allows its citizen to gamble to respective casinos that are legal and prohibits outside gambling like in public places that has no license to operate?
Base on your explanation, it got me confused of what's really the status of your country regards to gambling physically. But it's all good if you are okay gambling with crypto which makes you safe if your government doesn't allow people to gamble everywhere.

He means that gambling is illegal in his country at all so he is unable to gamble but he is gambling with cryptocurrencies because the governments cannot find the gambler who is gambling with cryptocurrencies, one reason is that cryptocurrencies are unable to trace and it is also a decentralized currency and do not need any bank account to transfer your money to gambling sites.

[AmoreJaz]

It depends on the person what they think the best way to use it in gambling is either crypto or fiat, but for me what we used as long as we win is good. But for sure we can convert to fiat after we play gambling using crypto if we win. But I don't want to play gambling for myself by using cryptocurrency because I'm a big fan of cryptocurrencies and it looks like we're using chips and after we're playing we're converting into our money fiat. I'm not shocked if most players prefer crypto because we're clearly in the crypto culture.

it really depends on personal preference and the availability of his funds at that moment. many are preferring crypto nowadays because they can play anonymously without worrying to submit any kyc docs. but when you play with fiat in online casino, that's where kyc begins...

[Debonaire217]

This question really makes sense if we think of the fact that most big time gamblers are actually converting fiats to cryptocurrency meaning to say that both are being utilized simultaneously, because based form my experience, I couldn't afford to bet money I earned from crypto space, most of the time I deposit using fiats to test my luck and to earn. Sometimes I use their faucets just to test their system.

[Finestream]

"snip"
 because based form my experience, I couldn't afford to bet money I earned from crypto space, most of the time I deposit using fiats to test my luck and to earn. Sometimes I use their faucets just to test their system.

We are opposite, I like to bet the money earn in crypto than my fiat which I earn from my real job or business.

In crypto space, there's a lot of earning opportunity that we can grab, that is regardless of the market condition because crypto is still here and there are still business who offers a job people like us, so what I earn, I use it for entertainment which is gambling and I don't feel much pain even if I lose it, but of course I also save some and gamble just a certain amount only.

[shield132]

This question really makes sense if we think of the fact that most big time gamblers are actually converting fiats to cryptocurrency meaning to say that both are being utilized simultaneously, because based form my experience, I couldn't afford to bet money I earned from crypto space, most of the time I deposit using fiats to test my luck and to earn. Sometimes I use their faucets just to test their system.

At first crypto is anonymous compared to fiat and for some people transactions that are associated with gambling can be a little bit problematic because of job and etc, so for this reason crypto is better. Another great reason why crypto is better than fiat in gambling is that it has some unique games that are rarely or almost never seen on fiat based casinos, that includes dice, crash and other games. Also you can bet as low as 0.00000001 bitcoin and that's 0.00014 USD, can you bet so low amount of fiat on any casino? No.
Also a lot of crypto casinos have faucet - free money to gamble + bitsler has free btslr coins and you can participate in daily 250$ free btslr coin wagering contest and also on weekly 3500$ free wagering contest.
So crypto casinos aren't something that you have to miss, that's another reason to choose crypto over fiat.

[Visbay]

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?

You should start a poll so that the result can be seen by the members!

The decision entirely depends on the country of residence. If gambling is legal in a country and the tax rate is low, anyone would prefer to play with fiat. Online casinos would not have much scope there! However, if gambling is legally banned in a country, the players would definitely choose to play with crypto because of anonymity it offers. So the matter is entirely situational. 

No according to me it is not good to gamble with crypto but it’s much better if you gamble with fiat because having crypto is our need for future but gambling is our entertainment we can carry both at a single time. Try to keep your crypto safe and gamble with fiat. Most people love to gamble with crypto because of safety and anonymity but I prefer gambling with fiat.

[Sterbens]

No according to me it is not good to gamble with crypto but it’s much better if you gamble with fiat because having crypto is our need for future but gambling is our entertainment we can carry both at a single time. Try to keep your crypto safe and gamble with fiat. Most people love to gamble with crypto because of safety and anonymity but I prefer gambling with fiat.

The decision for choosing between fiat and crypto is dependent upon the situation of the gambler. Some people prefer crypto for gambling because it makes them feel safer as the risk of legal issues decrease. On the other hand fiat gambling has also been evident in the countries where gambling has been declared officially permissible by the governmental bodies.
[/quote]

It seems like there are also many who gamble using crypto but on average they only play dice to play gambling but for casino gambling, poker, etc. then it would be better to use fiat because of big bets in the gambling game so that senior gamblers prefer fiat to bet.
But not all governments allow gambling because some countries still prohibit gambling because it can be detrimental and criminal rates are high.

[Triffin]

This question really makes sense if we think of the fact that most big time gamblers are actually converting fiats to cryptocurrency meaning to say that both are being utilized simultaneously, because based form my experience, I couldn't afford to bet money I earned from crypto space, most of the time I deposit using fiats to test my luck and to earn. Sometimes I use their faucets just to test their system.

That's true people convert their crypto into money while using but in case of holding crypto is profitable. I like crypto for holding not for gambling. For gambling we use fiat and like to store crypto. If you will keep spare  amount for gambling you will not have to use your profit for gambling, it’s much better to make plan, store crypto and gamble with fiat only.

[STT]

it breaks my heart see almost over 20% of my winnings go to the ridiculous tax collectors

All gambling is tax free where I live however thats not exactly including the company itself which must pay a flat tax towards government.    So I'm not so biased between the two but I got to agree that crypto is hell of alot easier to generally hold a balance and gamble with and avoid any general hitches to your gameplay basically.  THe only exception I can think of professional gamblers who have to register their earnings as income and maybe the situation changes again but I'm not a massive player like that so have no problem with having to employ an accountant.
   Anything thats less hassle is going to be favoured by players generally.  Also keeping a crypto balance means its easier to separate money for the bills from money thats ok to risk.

[Ayiranorea]

Spending cryptocurrency on gambling is similar to the spending to do with fiat on a grocery store. This makes people prefer bitcoin or other cryptocurrencies for gambling than fiat. Getting used to cryptocurrency on gambling is very simple, because we've got lot and lot of gambling websites specifically functioning with different cryptocurrency acceptance.

[Abiky]

it really depends on personal preference and the availability of his funds at that moment. many are preferring crypto nowadays because they can play anonymously without worrying to submit any kyc docs. but when you play with fiat in online casino, that's where kyc begins...

Exactly. That's the main selling point of crypto versus Fiat. You can use crypto all day long for gambling purposes without ever having to comply with KYC. Of course, there will always exist services that will require even crypto users to verify their identity. But the decentralized nature of crypto, gives us the choice to gamble without barriers. With many gambling dApps on various Blockchain networks like ETH and EOS, there's no need to worry about KYC at all. The main issue though, is price volatility of crypto relative to Fiat. Serious gamblers might want to use Fiat instead of crypto if they want to keep their profits. But average gamblers (like you and me) would simply choose crypto over Fiat for its censorship-resistant properties.

Of course, everything depends on a person's payment preferences over anything else. Because of this, neither crypto-based gambling sites will replace traditional ones which accept Fiat or vice versa. It's good to have diversity in order to make the gambling industry a better place. Hopefully, adoption of crypto within mainstream casinos would increase like never before as Blockchain technology scales for the whole world to use. Just my thoughts

[michellee]

Sometimes I have some trouble not being able to send money or deposit to a gambling account because the bank is always suspicious of what I'm doing and because of unknown transactions I've also been frozen by my bank for a few weeks. I prefer to buy crypto from someone first, and then I can safely and quickly deposit crypto where I can play anything I want. So it's easier for me to play in crypto, I have to say it's a great technology.

That would be bad news for you if the banks froze your bank account. Yes, choosing crypto as the way to gamble will give you a free to deposit any coin available in the gambling site, so you don't have to worry if your bank becomes suspicious about what you do. We can avoid investigating from the banks because they don't know if we use crypto to playing gambling. Even if they know we use crypto, it will hard to check on where we use the coin and what for we use the coin.

[passwordnow]

Spending cryptocurrency on gambling is similar to the spending to do with fiat on a grocery store. This makes people prefer bitcoin or other cryptocurrencies for gambling than fiat. Getting used to cryptocurrency on gambling is very simple, because we've got lot and lot of gambling websites specifically functioning with different cryptocurrency acceptance.

Same as with gambling with fiat, we have a lot of choices to choose from if you want but they are stricter in implementing rules and regulations because of the local law that they have to comply. But with crypto casinos, only the casino is the one that has to follow their local rules and the gamblers don't have to think of it but we have to obey the house rules of the casino where we gamble at. If it we're for the ease, it's very simple that gambling with crypto is the best.

[Latviand]

Well, what's better to use? For me, it depends on the gambler or the person that will play gambling, and I will make an example to myself, honestly, I tried gambling using fiat money, and it's not a pleasant experience even though I'm with my friends. Why? Because of the hassle in commuting, the noise around the casino place, the crowded people that makes you distract and lose your focus, and worst when you go broke and nothing left, its a bad day, and how will you go home will be your problem. I know it may sound it's my fault, but I admit yes, but there are a points that we really don't want to experience when we are playing, right? So after I quit then I discover gambling using a crypto and what's good in it is that I only use the little portion of my earnings in crypto to play and I find it more comfortable because I can play anytime and anywhere I want just to have a phone with internet connection and of course a crypto, and also you can play with your friends only. See, it's more convenient for those who don't want to hassle.

[Wish 107.5]

Sometimes I have some trouble not being able to send money or deposit to a gambling account because the bank is always suspicious of what I'm doing and because of unknown transactions I've also been frozen by my bank for a few weeks. I prefer to buy crypto from someone first, and then I can safely and quickly deposit crypto where I can play anything I want. So it's easier for me to play in crypto, I have to say it's a great technology.

That would be bad news for you if the banks froze your bank account. Yes, choosing crypto as the way to gamble will give you a free to deposit any coin available in the gambling site, so you don't have to worry if your bank becomes suspicious about what you do. We can avoid investigating from the banks because they don't know if we use crypto to playing gambling. Even if they know we use crypto, it will hard to check on where we use the coin and what for we use the coin.

Indeed. Some high rollers in gambling also use mixers which makes their transaction be impossible to be tracked. On the other hand, small time gamblers which includeds us doesn't need that since it's not really illegal to gamble with crypto at all which gives us the freedom to play without worrying that the government may sue us for not paying taxes.

[Janation]

Spending cryptocurrency on gambling is similar to the spending to do with fiat on a grocery store. This makes people prefer bitcoin or other cryptocurrencies for gambling than fiat. Getting used to cryptocurrency on gambling is very simple, because we've got lot and lot of gambling websites specifically functioning with different cryptocurrency acceptance.

That is different from spending fiat on a grocery store.

Just think of it, when you buy something from the grocery, does that fiat value goes down? Becausw that is whats happening on cryptocurrency when you sell them. For now, I'd rather hold my cryptos than gamble them. I will just use my fiats to gamble.