how big?

[adamistraybar]

yep its billions of dollars.  its even more now because coronovirus and all casinos were down for weeks if not monts, Also just look at bets for some of tese csainos

[slapper]

The online gambling industry is kinda huge right now. People have already developed online gambling for decades and since the cryptocurrency was created, many parts of this market move to crypto gambling. As you can see, we have like a thousand of gambling site in this forum, also there are many other platforms which accept cryptocurrency as a form of payment

Cryptocurrency provides us a technique to mostly become anonymous while playing gamble. It also faster, more convenient, and effective than other kinds of gambling which is strictly controlled by the laws and rules of one's country. Even though I know that the gambling industry is big, I am still shocking after hearing this guy used more than 10$ million in order to play crypto gambling. With all of my respect, our crypto gambling market will continue to grow and expand

[iv4n]

The online gambling industry is kinda huge right now. People have already developed online gambling for decades and since the cryptocurrency was created, many parts of this market move to crypto gambling. As you can see, we have like a thousand of gambling site in this forum, also there are many other platforms which accept cryptocurrency as a form of payment

Cryptocurrency provides us a technique to mostly become anonymous while playing gamble. It also faster, more convenient, and effective than other kinds of gambling which is strictly controlled by the laws and rules of one's country. Even though I know that the gambling industry is big, I am still shocking after hearing this guy used more than 10$ million in order to play crypto gambling. With all of my respect, our crypto gambling market will continue to grow and expand

The guy embezzled millions from his former employer, it's easy to gamble with that money, probably he knew they will catch him eventually, so he wanted to have as much fun as he can! Last night I watched Castle (crime comedy TV serial) and there was a guy who took some bag with 75k, he went straight to Atlantic City, and when they got to him he said: "The best 3 days of my life"! It's not the same when you gamble with your hard-earned money, and when you gamble with money you stole!
And yes, crypto gambling is growing, and that progress is visible for us who gamble here for years. Anonymity and easy access are two main factors why crypto gambling will continue to grow!

[Shasha80]

Unfortunately until now there is no valid data related to the circulated of money in crypto casinos, it must be very large. In the bitcointalk
forum, only gambling signature campaigns dare to pay with Bitcoin. This is proof that the crypto casinos market is very large, and I'm not
surprised someone has lost up to $ 10 million. Maybe this happens because the number of gamblers addiction is increasing.

[Reatim]

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?

From what i understand crypto gambling cannot be accounted so how can we talk about the size of gambling in this market when we have no place to get data?there are so many gamblers around the world that i believe enjoying Crypto casino but we can't just ask them how much they won or lose right?

and like what the first poster says as my understanding,the Man is playing in Fiat not in cryptocurrency,he just funded the account to continue playing.

But if each gambling sites will let people know how much money circulate inside their platform?then maybe we can evaluate each amount and tallied everything for the records.

[mersal]

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?

Gambling industry is one of the place where huge amount of money is getting circulated, millions of money given as rewards for lottery winners everyday which means the lottery owner should be making in billions.It is not possible to calculate how much money is circulating all around the world related to gambling.

[Assface16678]

This is not new because today when we are on the pandemic outbreak we have a bad experience and some of the casinos are already close and still not want to open yet because they want to avoid getting infected on the people and also they just need to protect their place having a temporary closure is better than having a permanent close on your business that can ruin your entire life of making more money.

Today most of the people are want to play gambling but the problem is the casino is close despite this many people are still want to make more money and enjoy those game like in gambling so now most of the people today are playing online because this is the same but the difference is there is no ambiance came from the casino and you can make easier and relax on it.

[imstillthebest]

Gambling industry is one of the place where huge amount of money is getting circulated, millions of money given as rewards for lottery winners everyday which means the lottery owner should be making in billions.It is not possible to calculate how much money is circulating all around the world related to gambling.

no not everyday but the reward depends on the platform and on the players playing   .  for lottery prize pool resets after every win so you cant say that there are millions on it all the time .  most lottery are also government based and the total earning wont go on them but on the government  , million prize are going to the winners too not on the operator  . there are illegal gambling too and thier income is hidden so its not possible to calculate all money here in gambling  .

[Vaculin]

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?

From what i understand crypto gambling cannot be accounted so how can we talk about the size of gambling in this market when we have no place to get data?there are so many gamblers around the world that i believe enjoying Crypto casino but we can't just ask them how much they won or lose right?

We can only get an estimate, not the exact figure and asking the gamblers will take time and it's impossible to get a close data, the best provider of data are the gambling sites if they are willing to divulge how much they make.

And I think I already found some good answers above, they said it's billions which I agree with.

[swogerino]

Crypto casinos are really big.They have paid out some multi million dollars jackpots already so it is only natural that people in this zone will continue to grow in number of players and this is also translated into more money poured into it.You should not be amazed right now as Bitcoin is around since January 2009.

[bisdak40]

Gambling industry is one of the place where huge amount of money is getting circulated, millions of money given as rewards for lottery winners everyday which means the lottery owner should be making in billions.It is not possible to calculate how much money is circulating all around the world related to gambling.

It's not a secret that gambling is a big industry and for some countries it's one of the biggest tax contributor. For sure crypto gambling casinos generate tons of money as profit since more people are lured to gamble in their sites as they have the luxury of gambling in their own homes while remain anonymous. I even think that online crypto casinos is the biggest driver of the use of cryptocurrency as without them, usage of crypto is limited. 

[Kong Hey Pakboy]

Crypto casinos are really getting big and popular all over the world because there are also more people who get into cryptocurrencies everyday, and most of them are gamblers, that is why crypto casinos has a massive numbers of players and millions of dollars circulated in their casino.

[blockman]

It's not about how big we are but it's about how people can go that far due to gambling addiction.
We have read several news like this in the past that they have used others money for them to gamble and it's not just about hundreds of bucks, not thousands of dollars but can go that far up millions of dollars.

[Ucy]

Haven't gone through the article yet but am wondering if spending/losses happened on a single day, or multiple days/months/years?   And does the article also factor in the deflationary nature of the cryptocurrency or token the player was betting with? An equivalent of 0.01 btc bet 6years ago would be worth more  now.

 Addiction is definitely a reason one would be reckless with money. It can be really bad if you are addicted to bad/unsafe things.

[Shimmiry]

~

I don't think the recent replies in this thread have read the real article. Because in fact, the article states that a man steals from a company just for his gambling addiction, and not losing in gambling in general. It's just funny that they kept replying without further reading the articles indicated in the OP lol.


IMO, the addiction that led to a crime the man committed was common as many gamblers, online or land-based, were doing everything just to fulfill their gambling satisfaction, yet the guy went too far by stealing a company's assets and linking them onto his accounts just for gambling purposes. And yes, it was a huge loss not only to the man but also to the company he stole those funds from, nearly $10M. But the article didn't indicated that he loss, he just funded approximately $8M for his gambling accounts.

[peter0425]

We can only get an estimate, not the exact figure and asking the gamblers will take time and it's impossible to get a close data, the best provider of data are the gambling sites if they are willing to divulge how much they make.

things that for sure impossible from gambling site to share,but yeah we can estimate but still nothing concrete.

And I think I already found some good answers above, they said it's billions which I agree with.

Some can say Billion while others trillion but as what you said we can only estimate so still you can agree in one while others will oppose.

[Natalim]

Some can say Billion while others trillion but as what you said we can only estimate so still you can agree in one while others will oppose.

It could be billion but it can't be trillion because crypto casinos cannot be bigger than the popular fiat online casinos and sportsbook .

here's some figure on online gambling market in US alone, we can use this as a reference as per report, USA had the biggest market.



[source] https://www.grandviewresearch.com/industry-analysis/online-gambling-market

[btc78]

~

I don't think the recent replies in this thread have read the real article. Because in fact, the article states that a man steals from a company just for his gambling addiction, and not losing in gambling in general. It's just funny that they kept replying without further reading the articles indicated in the OP lol.

hahaha,Maybe because the Title and the Post signifies about the losing and not about from what the story is all about.

I almost follow the replies when i read your post and checked the link 

Actually that same story has been topic recently in this gambling section but maybe this thread comes from different approach.

Spending companies Money is really not a good sign of being gambler.

[mersal]

Gambling industry is one of the place where huge amount of money is getting circulated, millions of money given as rewards for lottery winners everyday which means the lottery owner should be making in billions.It is not possible to calculate how much money is circulating all around the world related to gambling.

no not everyday but the reward depends on the platform and on the players playing   .  for lottery prize pool resets after every win so you cant say that there are millions on it all the time .  most lottery are also government based and the total earning wont go on them but on the government  , million prize are going to the winners too not on the operator  . there are illegal gambling too and thier income is hidden so its not possible to calculate all money here in gambling  .

There are some places in the world where gambling is the only business they do which means where we can find lot of lotteries.Million dollar prize lottery depends on which lottery and the bet amount, yes we have to pay a big chunk as a form of tax for every rewards while casinos also have to pay the taxes based on the regulation which still remains one of the big part to play in their economy.

[Pamadar]

Haven't gone through the article yet but am wondering if spending/losses happened on a single day, or multiple days/months/years?   And does the article also factor in the deflationary nature of the cryptocurrency or token the player was betting with? An equivalent of 0.01 btc bet 6years ago would be worth more  now.

 Addiction is definitely a reason one would be reckless with money. It can be really bad if you are addicted to bad/unsafe things.

Volatilities also affects the actual amount of value  where crypto casinos might already have. But the factor that really
hint is the popularities of the house, this venue of gambling already have a lots of
gamblers who spend money and since there are numbers of gambler when summing
it up it will turned to a huge value.