how big?

[spike420211]

People weren't thought that crypto gambling would go a long way as it is now, many set up of big companies chooses casino,poker as a means of easy placing of bets with crypto currencies. Loosing money on a daily basis by gamblers gradually determining how big the crypto gambling platform is now. So in future the value you mentioned above would be nothing compare to the ones in future.

All the meanings that we have now will probably seem ridiculous in the future, because humanity is growing and the economy is growing with it. Compare 10 years ago across all industries today.
Even a comparison with the current quarantine and pandemic times, these figures will be significantly higher than before. If things like viruses and wars do not hold us back, our growth will be frantic.

The only question is how much we need it.
The race of consumption is depleting the planet and individual countries on the verge of poverty. We are not trying to feed the whole planet using technology, but we are trying to make more money on anything.

[Mauser]

The article says one person has lose maybe at least $10 million in a casino from a poker game, I mean, how big we are already? I'm just amazed.


Can we just discuss the market size

I just want to share on few number where I really got amazed whenever I do check. The first one is freebitco.in; they are into crypto gambling industry for more than 5 years and the amount, they gave away is really massive one. Here are their stats to make you speechless:


Another one is what I come across last week which is a new casino and their stats on wagering amount really made me surprised:
https://bitcointalk.org/index.php?topic=5199911.msg53024378#msg53024378
Look into the date when this casino was announced here and the total amounts in bet. There must be at least house edge as sure shot profits which may sum in millions.

Windice is another new casino which is achieving 10 million bets consistently for every 10 to 15 days. By considering its age on this crypto gambling industry and its competition against primedice and bitsler, I am really wondering on the market size of this crypto gambling space.

215k BTC in 5 years is a crazy number. So assuming that the casino mainly used bitcoins lost by other gamblers - a loss of $10m doesn't seem so bit anymore as others must have lost many more millions on that site. But then again it's just an aggregate over a long period of time. I would assume that most people just gamble for a few hundred bucks.

[South Park]

Exec Embezzles $22M From ‘Influencer’ Marketing Firm, Spends Nearly Half on Crypto Gambling


snip

I know this is an old article but I'm just surprised that crypto casinos is this big already.

The article says one person has lose maybe at least $10 million in a casino from a poker game, I mean, how big we are already? I'm just amazed.


Can we just discuss the market size not the gambling addiction or anything related to that?

The market is huge, however we do not really have a realistic idea of how big it is, after all the market cap that you see in websites like CMC is not really accurate, however gambling and cryptocurrencies are a perfect combination since with cryptocurrencies you can gamble as much as you want without anyone else but yourself knowing this information, this is important as there are many countries in which even if gambling is legal it is still frown upon by society in general and this gives gamblers the privacy they need.

[Mahanton]

The article says one person has lose maybe at least $10 million in a casino from a poker game, I mean, how big we are already? I'm just amazed.


Can we just discuss the market size

I just want to share on few number where I really got amazed whenever I do check. The first one is freebitco.in; they are into crypto gambling industry for more than 5 years and the amount, they gave away is really massive one. Here are their stats to make you speechless:


Another one is what I come across last week which is a new casino and their stats on wagering amount really made me surprised:
https://bitcointalk.org/index.php?topic=5199911.msg53024378#msg53024378
Look into the date when this casino was announced here and the total amounts in bet. There must be at least house edge as sure shot profits which may sum in millions.

Windice is another new casino which is achieving 10 million bets consistently for every 10 to 15 days. By considering its age on this crypto gambling industry and its competition against primedice and bitsler, I am really wondering on the market size of this crypto gambling space.

215k BTC in 5 years is a crazy number. So assuming that the casino mainly used bitcoins lost by other gamblers - a loss of $10m doesn't seem so bit anymore as others must have lost many more millions on that site. But then again it's just an aggregate over a long period of time. I would assume that most people just gamble for a few hundred bucks.

First, Freebitco isnt only 5 years on existence if you do base up on the date that they had created their ANN so it would really be more than just that.
215k BTC win in that duration is attainable and this is indeed enourmous but for this having kind of popularity then its no surprise. We cant judge if people are just only gambling for a few hundred bucks
yet everything can really be random.If you do try to look on what overall wagered number then you can already picture it out.

[FontSeli]

The exact amount of money circulate in gambling is hard to know the exact amount and that amount of money is just a part of the total money circulates around. Do you know any platform that gathers the data about the money circulates in the casinos. Also some casinos accept both fiat and crypto.

It is impossible to collect General statistics even among legal casinos and online casinos. This is due to the fact that not all of them want to disclose statistics on the amount of money lost by players and the amount of money won at the casino. In addition, there are also underground casinos. They are available in many countries around the world, and they are also available on the Internet. No one will ever know their statistics.

[Finestream]

The exact amount of money circulate in gambling is hard to know the exact amount and that amount of money is just a part of the total money circulates around. Do you know any platform that gathers the data about the money circulates in the casinos. Also some casinos accept both fiat and crypto.

It is impossible to collect General statistics even among legal casinos and online casinos. This is due to the fact that not all of them want to disclose statistics on the amount of money lost by players and the amount of money won at the casino. In addition, there are also underground casinos. They are available in many countries around the world, and they are also available on the Internet. No one will ever know their statistics.

The information posted by wozzek23 above is already useful, at least that's the lease information we can get as the sites are sharing it publicly, however, it would still not give how much they really make as total wagers does not mean total amount casinos earned.

but this one is really interesting .

we can subtract and get how much the site has made based on the current rate.

rounded off. (BTC)

         416,141 - total wagered
less : 214-861 -Won by users.

total: 201280, based on the current rate, (http://preev.com/)

[dunfida]

         416,141 - total wagered
less : 214-861 -Won by users.

total: 201280, based on the current rate, (http://preev.com/)

201280 wagered doesnt mean that thats the total amount that they had generated in terms of profits and this is where you do consider on calculating the house edge.
When it  comes to true statistics on how much these casinos been earning then this one is mostly on the private part excluding to those who do show off numbers
but we cant still ensure that those are real-time ones or excluding out some part of it. We wouldnt able to know behind.

[STT]

They give back some of their profits obviously with the free giveaway and other offers to double up bets etc.   Every company does this but they got a good margin to start with it appears.    The point about any really long term casino is the BTC price was much lower for many years, even if it peaked it still fell back into the hundreds so plenty of people did bet large amounts of BTC because it wouldnt represent a large loss.

for more than 5 years

  They were operating when BTC was $100 I think so maybe even I would be a whale if my bets from that era were counted now.

[Finestream]

         416,141 - total wagered
less : 214-861 -Won by users.

total: 201280, based on the current rate, (http://preev.com/)

201280 wagered doesnt mean that thats the total amount that they had generated in terms of profits and this is where you do consider on calculating the house edge.
When it  comes to true statistics on how much these casinos been earning then this one is mostly on the private part excluding to those who do show off numbers
but we cant still ensure that those are real-time ones or excluding out some part of it. We wouldnt able to know behind.

416,141 btc  was the total amount wagered, the 201280 btc was their net revenue from the start of their operation, so they have turned their casino to a billion dollar business already. Kindly review the computation and please get back to me if there's an error in the computation.

[KrisAlex18]

That $10m is just a small value when we talk about the whole, there are many people who are always playing in casino gambling and as we all know gambling is so risky the highest odds of winning is only 50% so the chance of being lost in casino gambling is much higher because there are much casino games that have below 50% odds of winning. There is always money earned from the owner of casino gambling because of those people who lost in the casino gambling. They are the one who wins the game at all.

I am also aware of the how fast the crypto casinos grow. It was first Primedice, Stake now Roobet, the total turnovers are more than what I have thought. I was curious about the competitions on the "games and rounds" board and decided to check one. The Yolodice has announced new low number hunt competitions a week ago with 20 ETH prize pool plus the 50% profit of casino. At the end of contest, the total prize pool has climbed to 64 ETH...

The casino is very popular all over the world before in our country it is illegal but now then there are already some papers that they can show as legal because some casino gambling is from the government.

[peter0425]

The exact amount of money circulate in gambling is hard to know the exact amount and that amount of money is just a part of the total money circulates around. Do you know any platform that gathers the data about the money circulates in the casinos. Also some casinos accept both fiat and crypto.

It is impossible to collect General statistics even among legal casinos and online casinos. This is due to the fact that not all of them want to disclose statistics on the amount of money lost by players and the amount of money won at the casino. In addition, there are also underground casinos. They are available in many countries around the world, and they are also available on the Internet. No one will ever know their statistics.

Yups because this can be only gathered if the Gambling sites give the details on their own will because it is private thing and nothing can be certain.

thats why this is not really a answerable thread.

But since the speculation already in effect here so lets just enjoy all those.

[Yaunfitda]

         416,141 - total wagered
less : 214-861 -Won by users.

total: 201280, based on the current rate, (http://preev.com/)

201280 wagered doesnt mean that thats the total amount that they had generated in terms of profits and this is where you do consider on calculating the house edge.
When it  comes to true statistics on how much these casinos been earning then this one is mostly on the private part excluding to those who do show off numbers
but we cant still ensure that those are real-time ones or excluding out some part of it. We wouldnt able to know behind.

416,141 btc  was the total amount wagered, the 201280 btc was their net revenue from the start of their operation, so they have turned their casino to a billion dollar business already. Kindly review the computation and please get back to me if there's an error in the computation.

We wouldn't know the real numbers, I agree, but at least we have a ball park number on how one casino can make profits in about 5 years time and that is a huge money. And that is just one casino alone, maybe there are big casinos also operation and the profits are close to that numbers or some new casinos that are on the way to target that amount. So online casinos are really getting bigger.

[noithatgiadinh]

The overall growth of the gambling industry totals to around ~$440 billion last 2018. If you were to take into account just online gambling, it'd come close to around ~$50 billion. That's already pretty huge, considering the time that online gambling has been around, and the dominance of physical casinos in the past. It's also expected for gambling to grow to close to ~$550 billion in the year 2022.

That number will grow from time to time, and no one will imagine how big the gambling industry will grow. When young people become adult people and they attract to gambling games, that will make the number will increase so big. That is why the gambling industry can still survive, whether it's offline gambling or online gambling because the number of people who come to the gambling games will always increase.

One person can lose so much money because he doesn't use big money in just one day or one week, but he uses small money, and he uses another money to gamble. If we calculate how much bigger the money that we use, yes, we can be amazed because that money can be used for buying something. And $10 million in a casino is not big, but for one person, that can be a big number. Gambling industry is a big industry which accumulating big money that has been used by the gamblers, and that number still growing every month.

And that's why gambling is scary. Let's say that you enter the casino every day, but you limit your spendings to $5. It may seem small, but with time, that amount would only grow bigger and bigger. A week, and you would've spent $35, a month, and its $140. a year and its what, ~$1700?

Visit my profile: https://noithatphuongdong.vn/m/phong-xong-hoi/

Spending $5 but every day that means a lot of money in a month. Yes, you have the right calculation. No wonder that many people regret when they see how much money they use in a year. It's not a big deal for them if they don't calculate or don't think about the money they will spend, but still, that is big money for some people.

[Pamadar]

The exact amount of money circulate in gambling is hard to know the exact amount and that amount of money is just a part of the total money circulates around. Do you know any platform that gathers the data about the money circulates in the casinos. Also some casinos accept both fiat and crypto.

It is impossible to collect General statistics even among legal casinos and online casinos. This is due to the fact that not all of them want to disclose statistics on the amount of money lost by players and the amount of money won at the casino. In addition, there are also underground casinos. They are available in many countries around the world, and they are also available on the Internet. No one will ever know their statistics.

Yups because this can be only gathered if the Gambling sites give the details on their own will because it is private thing and nothing can be certain.

thats why this is not really a answerable thread.

But since the speculation already in effect here so lets just enjoy all those.

You said it right, as everyone have it's own opinion in regards to this matter, there's no certain or exact answer
to how the gambling business has grown,
the only information that we can based all
this speculation is on how the business is really
growing from time to time.

[Finestream]

         416,141 - total wagered
less : 214-861 -Won by users.

total: 201280, based on the current rate, (http://preev.com/)

201280 wagered doesnt mean that thats the total amount that they had generated in terms of profits and this is where you do consider on calculating the house edge.
When it  comes to true statistics on how much these casinos been earning then this one is mostly on the private part excluding to those who do show off numbers
but we cant still ensure that those are real-time ones or excluding out some part of it. We wouldnt able to know behind.

416,141 btc  was the total amount wagered, the 201280 btc was their net revenue from the start of their operation, so they have turned their casino to a billion dollar business already. Kindly review the computation and please get back to me if there's an error in the computation.

We wouldn't know the real numbers, I agree, but at least we have a ball park number on how one casino can make profits in about 5 years time and that is a huge money. And that is just one casino alone, maybe there are big casinos also operation and the profits are close to that numbers or some new casinos that are on the way to target that amount.

Yes, it's just one casino and I don't know if it's the biggest but I believe it's one of the popular casinos in the crypto world right now.
They have their presence felt in the forum so it's easier for us to verify and I'm glad someone shared the data and it proves they are transparent to the public,however, we can expect that everyone would do the same, they will just likely give a data of total wagers, which is hard to guess their profit from that.

So online casinos are really getting bigger.

Yes, but we are on a specific crypto online casinos, and we are indeed getting bigger

[Casdinyard]

Exec Embezzles $22M From ‘Influencer’ Marketing Firm, Spends Nearly Half on Crypto Gambling




I know this is an old article but I'm just surprised that crypto casinos is this big already.

The article says one person has lose maybe at least $10 million in a casino from a poker game, I mean, how big we are already? I'm just amazed.


Can we just discuss the market size not the gambling addiction or anything related to that?

The size of the whole community of crypto casino is already that much big specially at this time that casinos are temporarily closed and people have no choice and if they wanted to play gambling, they will be just dropping by any online crypto casino for a much more convenient gaming experience even players are jus staying at home.

That article is not already surprising because there are lots of cases that lose of money is associated on playing in a crypto casino. That amount stated on the article is not that big if you will compare it into the whole loss being recorded while playing in a crypto casino. That is amount is really massive indeed but just for the individual loss of the player. If you will be better think of it, it is just a part of the big community that crypto casino have. It will just continue to expand as long as there are players that are being encourage playing on this platform so such loss will be stated to be a small part of it.

[Sadlife]

That $10M loss is just a small amount when we look at the whole.

~

Gambling industry is so big and vast thats why i dont really believe much into those numbers to be precise and im expecting for it to be much more bigger.
If that statistics based of on last 2 years then pretty sure that it is way more bigger now and to think that do excludes crypto gambling industry which i do also
believe that having that humongous amount we are talking on.

True, most of these gamblers purchase in over the counter method, so authorities wouldn't track them especially if that country is strict with digital assets and most country's including mine prohibits online gambling. So using anonymous cryptocurrency is the way to gamble. The data or statistics for volume of crypto gamblers might not be accurate.

[Bezobraznike]

Can we just discuss the market size not the gambling addiction or anything related to that?

The size of the whole community of crypto casino is already that much big specially at this time that casinos are temporarily closed and people have no choice and if they wanted to play gambling, they will be just dropping by any online crypto casino for a much more convenient gaming experience even players are jus staying at home.

That article is not already surprising because there are lots of cases that lose of money is associated on playing in a crypto casino. That amount stated on the article is not that big if you will compare it into the whole loss being recorded while playing in a crypto casino. That is amount is really massive indeed but just for the individual loss of the player. If you will be better think of it, it is just a part of the big community that crypto casino have. It will just continue to expand as long as there are players that are being encourage playing on this platform so such loss will be stated to be a small part of it.

   I think we can all agree that crypto-gambling capitalization is higher every year. The prices of some crypto-currencies are high,
and early adopters have advantage here, with coins they bought cheap now they are high-rollers. They can gamble with high
amounts, amounts we can't even imagine.
   Crypto-gambling will grow more, this is just a beginning. Many people see how better it is, easier, and more private, many gamblers
seek for privacy.

[Twentyonepaylots]

The exact amount of money circulate in gambling is hard to know the exact amount and that amount of money is just a part of the total money circulates around. Do you know any platform that gathers the data about the money circulates in the casinos. Also some casinos accept both fiat and crypto.

It is impossible to collect General statistics even among legal casinos and online casinos. This is due to the fact that not all of them want to disclose statistics on the amount of money lost by players and the amount of money won at the casino. In addition, there are also underground casinos. They are available in many countries around the world, and they are also available on the Internet. No one will ever know their statistics.

But if you would sum up those in total, let's just assume it would cost billions too, so online gambling platforms is really big that less people are talking about it, or so just we thought about it?

Why are we talking about the losses? how about the gains? this might look a huge loss of someone but did we able to search for his gains through his gambling sessions?

SO think, this is only a single person yet we are already amaze on how he lost a huge amount of money, think that there is a person like him in many casinos right now, huge and silent isn't it?

[bitbunnny]

Can we just discuss the market size not the gambling addiction or anything related to that?

The size of the whole community of crypto casino is already that much big specially at this time that casinos are temporarily closed and people have no choice and if they wanted to play gambling, they will be just dropping by any online crypto casino for a much more convenient gaming experience even players are jus staying at home.

That article is not already surprising because there are lots of cases that lose of money is associated on playing in a crypto casino. That amount stated on the article is not that big if you will compare it into the whole loss being recorded while playing in a crypto casino. That is amount is really massive indeed but just for the individual loss of the player. If you will be better think of it, it is just a part of the big community that crypto casino have. It will just continue to expand as long as there are players that are being encourage playing on this platform so such loss will be stated to be a small part of it.

   I think we can all agree that crypto-gambling capitalization is higher every year. The prices of some crypto-currencies are high,
and early adopters have advantage here, with coins they bought cheap now they are high-rollers. They can gamble with high
amounts, amounts we can't even imagine.
   Crypto-gambling will grow more, this is just a beginning. Many people see how better it is, easier, and more private, many gamblers
seek for privacy.

That is true, crypto gambling capitalization is on the rise. However, I'm not sure about the structure of players. Early adopter have certain advantage but I'm not sure how many of them spend accumulated funds in casinos. Not all of them have these gambling feature and the real amount of crypto that is gambling system could be just approximately estimated but exact figures is hard to define.