Do you have an idea in percentage how big gambling industry's contribution?

[goinmerry]

Actually I would say the gambling industry contributes close to 50% of the market distribution because there are massive giants in market now be it primedice for dice gambling or be it sportsbet that claims to accepts single bets of 100 btc which tells how massive the market has become now.

It's difficult to know what's the exact percentage and the reason you said is not a good basis.

That BTC100 is nothing when it comes to crypto exchanges. There is more circulation of BTC here compare to gambling.

And since we are here in the Gambling section, we might think that crypto-gambling is already big in the whole crypto industry without realizing that maybe it's just a 1/4 of the whole activity on crypto-exchange.

[michellee]

I think the contribution of the gambling industry is more on the tax.

When it came to the tax, I think the tax will be applied to offline gambling because the owner needs to pay that tax. But if that is for the online gambling website, I don't know how the owner will pay that tax. The country which allows gambling will take a big tax for the gambling business so that revenue from the gambling industry can support the economy of the country too. But still, we don't know how big the percentage that the gambling industry contributes to one country because the government is not telling the public.

[coinfinger]

I think gambling is the strongest industry behind crypto right now followed by the red lights industry.I think many of the people watching premium porn or gambling don’t like their family to find out in credit cards statement for example and that’s why they will choose crypto for such transactions.This is known to the market but to make that extra step in crypto we need a few industries to join these too.

While its true that a lot of black market uses bitcoins and bitcoin has great popularity among hackers but that is just because a gun can be used for either cause - Safety and crime!

Not coming to the gambling topic, basically not just the market contribution but a lot of gamblers are actually introduced to bitcoins and crypto world because of these crypto casinos. I was discussing about gambling among friends and they told me that they don't gamble because of KYC issues and identity thefts. Once I tell them about crypto gambling that does not require any KYC most of them are now gambling with crypto and hence a large part of bitcoiners were earlier only introduced to bitcoins as a gambling currency.

[Visbay]

It is difficult to tell what it is the contribution of the gambling industry to this market, I really think that at the beginning gambling was one of the reasons why bitcoin became popular since it allowed you to gamble without the need to go through KYC policies and you could gamble and withdraw your earnings almost immediately, however it is clear that since those times speculating with cryptocurrencies has taken the front seat and the gambling industry is not as influential as it was years ago.

Gambling industry indeed went through great revolution because of the invention of bitcoin and this is why there is increase in the number of online gamblers as compared to offline ones. I believe the demand of bitcoin will further increase because of this late global pandemic which has restricted people to homes.

[Japinat]

It is difficult to tell what it is the contribution of the gambling industry to this market, I really think that at the beginning gambling was one of the reasons why bitcoin became popular since it allowed you to gamble without the need to go through KYC policies and you could gamble and withdraw your earnings almost immediately, however it is clear that since those times speculating with cryptocurrencies has taken the front seat and the gambling industry is not as influential as it was years ago.

Gambling industry indeed went through great revolution because of the invention of bitcoin and this is why there is increase in the number of online gamblers as compared to offline ones. I believe the demand of bitcoin will further increase because of this late global pandemic which has restricted people to homes.

Definitely it's gonna happen but please let us not expect that bitcoin will rise soon as major volume of bitcoin is still under control by the whales, they can manipulate the market that is why there is a pump and dump that is happening. Crypto really gives a major contribution on the growth of the online gambling world, as we can see, some fiat online casinos now are already accepting bitcoin.

[criza]

Gambling affects greatly the entire market because of the participants in it that most probably supports the use of crypto currencies such as Bitcoin thus, impacts the movement of its supply fast and increases the demand for that certain coin; more demand means a greater standing for the coins available and is used by gamblers online.

When we talk about the physical casinos in the society, they contribute a lot in the income of a certain country from the taxes they get from the casinos.

[deisik]

Gambling affects greatly the entire market because of the participants in it that most probably supports the use of crypto currencies such as Bitcoin thus, impacts the movement of its supply fast and increases the demand for that certain coin; more demand means a greater standing for the coins available and is used by gamblers online

This mostly refers to Dogecoin

Personally, I don't think that gambling is supporting the use of Bitcoin. The logic that I draw this conclusion on is really simple and straightforward. Bitcoin still massively dominates the crypto market, and if its prices were actually supported by gambling to any significant degree (which necessarily follows from your assumption), we wouldn't see so huge price swings as of recently. All in all, this basically proves that gambling cannot possibly affect the entire market, let alone greatly, as the whole market is still about Bitcoin, one and only

However, the situation is different with Dogecoin specifically. Indeed, if the whole market goes down the hill, Dogecoin dollar prices also go down. You wouldn't really expect it to be any other way, would you? But what many don't see with doges is the fact that their Bitcoin price is mostly negatively correlated with Bitcoin prices as such. That, on its own, tells us that Dogecoin is traded mostly for fiat, not Bitcoin, and there is solid evidence to think that it is people buying doges with gambling in mind who make this coin so special (read, gambling does greatly affect the doges market)

[mirakal]

Gambling affects greatly the entire market because of the participants in it that most probably supports the use of crypto currencies such as Bitcoin thus, impacts the movement of its supply fast and increases the demand for that certain coin; more demand means a greater standing for the coins available and is used by gamblers online.

As the crypto online casinos are growing, here we can expect there will be a growth on the demand, we like to see it as that would only not help the online gambling world to grow but its contribution to the market is big since we are talking here for adoption, which people are not speculating on the price but truly use them as a tool to gamble online.

When we talk about the physical casinos in the society, they contribute a lot in the income of a certain country from the taxes they get from the casinos.

They have a physical casino its expected that they are paying taxes, while in online casino, we also have casinos that are licensed and in fact online gamblers are already aware of that and they choose those who have license over the non licensed casinos.

[ethereumhunter]

As what the thread title says, I like to know based on your opinion how big the contribution of the gambling industry to the entire market.
I have been a gambler for awhile now and I believe that with the contribution of our industry, it will only make the market stronger in the long run, and it's one of the reason why adoption is happening at a very good rate IMO.

I don't have any idea how much percentage from the gambling industry because we don't know how many gambling places in every country. Maybe only the government that will see the number and they don't tell the public about the money. But maybe you can read on this article to find the percentage or to find how much money the contribution from the gambling industry.

https://www.statista.com/topics/1368/gambling/

https://www.tandfonline.com/doi/full/10.3109/16066359.2014.929118

But still, we don't know the right number if we don't research by ourselves.

[Best Dreams]

Actually I would say the gambling industry contributes close to 50% of the market distribution because there are massive giants in market now be it primedice for dice gambling or be it sportsbet that claims to accepts single bets of 100 btc which tells how massive the market has become now.

It's difficult to know what's the exact percentage and the reason you said is not a good basis.

That BTC100 is nothing when it comes to crypto exchanges. There is more circulation of BTC here compare to gambling.

And since we are here in the Gambling section, we might think that crypto-gambling is already big in the whole crypto industry without realizing that maybe it's just a 1/4 of the whole activity on crypto-exchange.

Gambling is the platform which makes maximum use of crypto currencies and this is why I support the percentage you have assumed of gambling contributing to crypto market. Crypto currencies really help gamblers enjoy gambling without taking any stress regarding withdrawing their money in short time.

[akirasendo17]

if you are talking about the entire gambling industry well its certainly bigger than what we have imagine , not only this give or pay lots of taxes but, the people that have a job because of it, because of it there are more people that has job , it help build bridges and help the government build and support the people well lets be honest the huge amount of taxes it give, help us a lot , and the government, that is why lots of government gives permit for them to operate.

[TopT3ns]

if you are talking about the entire gambling industry well its certainly bigger than what we have imagine , not only this give or pay lots of taxes but, the people that have a job because of it, because of it there are more people that has job , it help build bridges and help the government build and support the people well lets be honest the huge amount of taxes it give, help us a lot , and the government, that is why lots of government gives permit for them to operate.

I see a lot of gambling sites that still do not provide tax payments meaning there are no specific rules from the government to provide tax from gambling results, because I see it will make it difficult for gambling business people to cut taxes that must be paid to the government.

[Twinkledoe]

if you are talking about the entire gambling industry well its certainly bigger than what we have imagine , not only this give or pay lots of taxes but, the people that have a job because of it, because of it there are more people that has job , it help build bridges and help the government build and support the people well lets be honest the huge amount of taxes it give, help us a lot , and the government, that is why lots of government gives permit for them to operate.

Indeed, gambling industry really give a huge chunk of money to the government as part of their taxes. And now that most of them are in shut down, I think the government will definitely feel the impact of their presence as I don't think they can give the same amount of money as they don't have operations. For some areas, the presence of these gambling establishments give life to them. Though we can't quantify their exact contribution but definitely they are big enough to influence their economy.

[Dalmar]

Behind the turnover funds in gambling, the money laundering is the biggest case, I believe. The cryptocurrency gambling industry is used for dirty purposes and the lack of regulation strengthens my argument.

No regulation, no KYC, no document for showing the source of funds. Bla,bla,bla. This is what it becomes after the police raids the location of the server and I have seen a similar situation with the mining companies.

[imstillthebest]

Behind the turnover funds in gambling, the money laundering is the biggest case, I believe. The cryptocurrency gambling industry is used for dirty purposes and the lack of regulation strengths my argument.

maybe thats true because crypto gambling are mostly unregulated and didnt comply with the kyc   . i have see a couple of gamblers that said thier funds came from illegal like scamming   but there are some that are clean  . they earn the money in  a legal way  .

not totally you can say that money laundering is huge in the gambling industry  . in the contribution , gambling industry ofc contribute big because gambling is one of the biggest succesful business , whether crypto or non crypto 

[Best Dreams]

if you are talking about the entire gambling industry well its certainly bigger than what we have imagine , not only this give or pay lots of taxes but, the people that have a job because of it, because of it there are more people that has job , it help build bridges and help the government build and support the people well lets be honest the huge amount of taxes it give, help us a lot , and the government, that is why lots of government gives permit for them to operate.

I see a lot of gambling sites that still do not provide tax payments meaning there are no specific rules from the government to provide tax from gambling results, because I see it will make it difficult for gambling business people to cut taxes that must be paid to the government.

Gambling sites shall pay taxes in order to boost the economy of the country. There are crisis going on right now and we all know that governments need money in order to fight this corona thing. Governments shall take notice of such sites and make tax inevitable for them.

[batang_bitcoin]

Behind the turnover funds in gambling, the money laundering is the biggest case, I believe. The cryptocurrency gambling industry is used for dirty purposes and the lack of regulation strengths my argument.

If they do that, there's no contribution for it. But gambling industry as a whole, don't neglect that it contributes that much to this crypto industry. Remember that when no establishment and businesses that wants to accept bitcoin, the gambling community has been here and rocking while they're still doubting it. Now, the turn of the events and it might be gradual but they are starting to contribute and adopt bitcoin.

[Google+]

Behind the turnover funds in gambling, the money laundering is the biggest case, I believe. The cryptocurrency gambling industry is used for dirty purposes and the lack of regulation strengths my argument.

of course behind that much collected funds in a gambling wallet there are many goals that can be created, but negative goals are not always planned by gambling website developers because I'm sure they also have positive goals.

[Kurokonobasuke]

In my own opinion, I don't have any idea on how big is gambling industry does contribute, but I think it has a big contribute regarding in the industry as we all know that we are in the modern world that there are things are could be possible such as online gambling. Just for now the gambling world are so big enough you can play it physically or virtually. And I think as time goes by there are many inventions could really appear in the gambling world that will contribute in the industry.

[crwth]

There are a couple of reasons why gambling is considered an important part of the economy.

• It creates employment
• Government economy is boosted by taxing
• Form of entertainment
• People get to visit the casino resulting in the local market sales
• Leisure time

I think with just about this, and the critical part is the employment. A lot of people could benefit from it, and having a casino could provide that. Whether it's an online casino or not, it still allows people to earn money.

For players, it's essential not to get addicted to it so you could provide and have the proper priorities.