The difference between a true Crypto gambling site and a Fiat/Crypto site..

[Kakmakr]

I noticed a kind of trend these days, with a lot of Fiat online casinos, starting to offer Crypto currencies. The problem with these casinos are that they are not really Crypto gambling sites. Let's take the Slots for instance... Your normal Fiat online gambling sites will never offer bets smaller than say $0.10 per bet.... but the true Crypto gambling sites will offer bets for a fraction of a cent. (Stake.com original games for instance makes true use of Crypto micro bets and also sites like Freebitco.in)

The other sites will take your Crypto currencies, but they will still use Fiat values as a guideline to determine the minimum bet... this does not make full use of one of the best aspects of Crypto currencies... which is micro payments.

Can anyone in the gambling industry explain to us, why this is done? Do you have to pay high royalties to the third party developers for these games and/or are you afraid that Fiat customers would start playing with Crypto currencies, if you allowed smaller minimum bets for Crypto customers?

[ryzaadit]

It's not about paying or money, they used a third parties slot game, so they cannot change the policy or term & condition of the game. Must accept all rules or other things from the game provider.

The casino only connected their website to the game provide through API game provider, that's why they cannot change at all the currency we can use for slot games. That's would be a different case if they created the game itself like "Stake" when they created their own slot and can be used whatever cryptocurrency you want to use for betting activity.

If you looking specific answer, then need one of the people who from the developer, team, or owner the casino to answer your question. But they will not have time to answer you, to busy operating the casino XD.

[mindrust]

They want to their piece from the action.

FIAT casinos are greedy af and they mostly suck. They see casinos like stake & freebitco are making huge stacks while being provably fair, letting instant withdrawals and satoshi-wise bets and they get mad.

Not just that, they are actually losing money because every gambler that doesn't play on their casino, is a loss.

Crypto gamblers are not (completely  ) stupid though. FIAT casinos have nearly zero chances of attracting a crypto player.

In time crypto casinos may absorb the whole fucking thing.

I don't know if it is bad or good but, that's the best use case of crypto.   (anonymous gambling)

[dothebeats]

They just want to ride the hype of cryptocurrency gambling sites and take a share of the market for theirs. It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat. It's one of the main reasons I see why people prefer crypto gambling sites more than traditional fiat online casinos. It seems like you have no freedom to bet whatever amount you have in mind in these casinos which is a bummer especially if you want to last in the casino and just have a good time.

[TimeTeller]

They want to their piece from the action.

FIAT casinos are greedy af and they mostly suck. They see casinos like stake & freebitco are making huge stacks while being provably fair, letting instant withdrawals and satoshi-wise bets and they get mad.

Not just that, they are actually losing money because every gambler that doesn't play on their casino, is a loss.

Crypto gamblers are not (completely  ) stupid though. FIAT casinos have nearly zero chances of attracting a crypto player.

In time crypto casinos may absorb the whole fucking thing.

I don't know if it is bad or good but, that's the best use case of crypto.   (anonymous gambling)

In addition to that, most of these fiat casinos which now turn to be hybrid (accepting crypto) are still requiring KYC from their customers.
That is because, it is part of their license and they can't totally remove it because they still have fiat.
So that is their disadvantage in this game. Most crypto users don't want to submit their KYC docs.
There are reputable full time crypto casinos that don't require KYC, so why not play with them, right?

[Quidat]

They just want to ride the hype of cryptocurrency gambling sites and take a share of the market for theirs. It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat. It's one of the main reasons I see why people prefer crypto gambling sites more than traditional fiat online casinos. It seems like you have no freedom to bet whatever amount you have in mind in these casinos which is a bummer especially if you want to last in the casino and just have a good time.

On point! Also if you've been playing from cryptocurrency based gambling site then you will able to tell the difference among the two and you do have the option neither you do deal with it or would just stick out
on where you do start on playing.Its just a preference and if you do find out  that it sucks big time  when your crypto bets is always converted to fiat then its your decision.
They are indeed just riding on the hype and since they do know that they can potentially make out money if they do integrate crypto as part of their payment but somehow we can still see the difference
the numbers of player who do play on pure crypto sites that on those fiat/crypto one.

[GreatArkansas]

It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat.
(....)

Oh. There are some gambling websites that will convert your cryptocurrency deposit to fiat after depositing it?
Jeez. This is my first time to know this, this is extremely awful especially the price of the Bitcoin  after they will convert it to fiat, it really matters.
Gamblers should know this before they are depositing so they will not get pissed off.

[andycarrol]

It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat.
(....)

Oh. There are some gambling websites that will convert your cryptocurrency deposit to fiat after depositing it?
Jeez. This is my first time to know this, this is extremely awful especially the price of the Bitcoin  after they will convert it to fiat, it really matters.
Gamblers should know this before they are depositing so they will not get pissed off.

when there is a gambling place like that I think it will make the players feel uncomfortable but maybe indeed the gambling place only provides gambling options only using fiat money so that anyone who makes a deposit will immediately be exchanged with fiat at the current exchange rate, if not like the system like that then you should be able to avoid gambling places like that.

[cabalism13]

They just want to ride the hype of cryptocurrency gambling sites and take a share of the market for theirs. It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat...

I remember this when I play at FJ, where BTCs are automatically converted to USD as bets. Just like what the others have said it is within the Game Provider, and for the likes of what I have played before, here it is:

https://www.yggdrasilgaming.com/

So 'matically it wasn't just about being on the latest trend, and yeah it's really annoying.

[AmoreJaz]

It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat.
(....)

Oh. There are some gambling websites that will convert your cryptocurrency deposit to fiat after depositing it?
Jeez. This is my first time to know this, this is extremely awful especially the price of the Bitcoin  after they will convert it to fiat, it really matters.
Gamblers should know this before they are depositing so they will not get pissed off.

when there is a gambling place like that I think it will make the players feel uncomfortable but maybe indeed the gambling place only provides gambling options only using fiat money so that anyone who makes a deposit will immediately be exchanged with fiat at the current exchange rate, if not like the system like that then you should be able to avoid gambling places like that.

thats why you need to check their faq first, if theres any. or read the reviews first. because they will mention about this conversion to fiat thing. but i guess most of us here don't want this kind of tx because we are  used to deal with crypto.   guess what? we are in btctalk...

[Oasisman]

It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat.
(....)

Oh. There are some gambling websites that will convert your cryptocurrency deposit to fiat after depositing it?
Jeez. This is my first time to know this, this is extremely awful especially the price of the Bitcoin  after they will convert it to fiat, it really matters.
Gamblers should know this before they are depositing so they will not get pissed off.

Im not sure, but I guess with a website like this, your deposited Btc/crypto wasn't directly converted but just showing the amount of crypto equivalent to fiat (base on my experience on other gambling website)
But, If that was really the case, then that's obviously a deceitful act from a non-crypto gambling website.
Nevertheless, most of these websites only adapts cryptocurrency, because they have witnessed a huge volume of stakes in crypto gambling websites. They will do anything they can to attract more markets to their website.

[GreatArkansas]

It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat.
(....)

Oh. There are some gambling websites that will convert your cryptocurrency deposit to fiat after depositing it?
Jeez. This is my first time to know this, this is extremely awful especially the price of the Bitcoin  after they will convert it to fiat, it really matters.
Gamblers should know this before they are depositing so they will not get pissed off.

(...)
But, If that was really the case, then that's obviously a deceitful act from a non-crypto gambling website.
Nevertheless, most of these websites only adapts cryptocurrency, because they have witnessed a huge volume of stakes in crypto gambling websites. They will do anything they can to attract more markets to their website.

It's looks like they just want to use cryptocurrency for more people to use their website since more mode of payments accepts = there is also more players will probably play there.
And other thing is just like what @cabalism13 said that, there is also a chance that the Bitcoin you bet will only converted once you will bet it, not after you deposit Bitcoin or other cryptocurrency in the gambling website.
Still annoying once people will get surprised about this.

[Wexnident]

They just want to ride the hype of cryptocurrency gambling sites and take a share of the market for theirs. It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat. It's one of the main reasons I see why people prefer crypto gambling sites more than traditional fiat online casinos. It seems like you have no freedom to bet whatever amount you have in mind in these casinos which is a bummer especially if you want to last in the casino and just have a good time.

True! Hypetrain of crypto, but in the end, it's just fiat in the guise of crypto. They can't really change their entire setup to make it as a crypto gambling site so they instead opted to make it seem like they are one. If new players were to actually enter on crypto gambling, they may just actually attract some with such ideas, after all, they have no particular idea on how crypto sites work and just the work "crypto" is enough to make a gambling site a crypto gambling one in the eyes of people who don't usually gamble on said sites. I guess the only advantage they could get here is that transactions would be faster if they used crypto, but I'd still opt for pure Crypto gamblings sites since they offer the same speed and I know that I'm playing with crypto, not fiat.

[Fundamentals Of]

There are crypto gambling sites which are also setting up limits. Some sports betting sites for example do have minimum amount of bets allowed.

Perhaps some fiat/crypto gambling sites do not allow very low bets because they consider these bets too insignificant that they do not make good money out of it. Perhaps they find bets as low as 1 to 10 sats as worthless bets which should not be accepted. Even 100 sats is just less than 0.01 cents so why bother accepting it? Just my thoughts.

[Insanerman]

I noticed a kind of trend these days, with a lot of Fiat online casinos, starting to offer Crypto currencies. The problem with these casinos are that they are not really Crypto gambling sites. Let's take the Slots for instance... Your normal Fiat online gambling sites will never offer bets smaller than say $0.10 per bet.... but the true Crypto gambling sites will offer bets for a fraction of a cent. (Stake.com original games for instance makes true use of Crypto micro bets and also sites like Freebitco.in)

The other sites will take your Crypto currencies, but they will still use Fiat values as a guideline to determine the minimum bet... this does not make full use of one of the best aspects of Crypto currencies... which is micro payments.

We can't really blame those fiat/crypto casinos whom limits the amount of minimum bet that high and still needs KYC, as some of them were just want assurance that their customers are real and they afford to win big and lose big as well. Hence, we must not compare how they run their system, it's your choice whether you use it or not. The only difference that makes a gambling site, whether it is crypto-based or fiat-based, is if it satisfy its customers and its user-experience is superb.

Also, crypto gambling would always have many clients compared to fiat gambling as crypto is more convenient in transaction and depositing, yet fiat casinos often have physical licenses in their local place where they operate while most crypto-based that are decentralized often doesn't have. Which, answers why fiat-based often gets huge income by limiting minimum bets with their system.

[xvacator]

We need a gambling owner to explain that because we all are the players, and we don't know the truth. We can guess the answer, but that will make a difference in each other for the answers.

But I never think like that because I only think that when I place the bets, I know there is a minimum amount to bet, but I don't convert or calculate it in the fiat values.

Regarding the royalties, I am sure they should pay some amount to the developer, which is a form to support the developer in keeping their project still running. I think every crypto gambling site will have different minimum bets for crypto gamblers.

[mersal]

Are you afraid that Fiat customers would start playing with Crypto currencies, if you allowed smaller minimum bets for Crypto customers?

Maybe yes, if players are set into very low amount as minimum bets then those fiat sites may not reach their targeted profits.Possibly not every gambler is going to make bets in few cents so they just keep as it is. Fiat gambling site offering crypto bets itself shows that they are afraid of crypto gambling is taking over the fiat industry that is why they started to prepare themselves early.

[swogerino]

I think that the minimum bet in real good slot machines should be like 0.10 Eur or Usd.Many of the slot providers like Microgaming,Booming Games,Kalamba,Play N Go and many others offers this kind of minimum bet as this is the minimum bet you can really win something during your gameplay.I think with 0.01 Eur bet we would be just losing time and looping around because you cannot really win something relevant in this bet.

Crypto gambling sites still offer a minimum bet higher than 0.01 cent for real slot machines but I think the advantage of micro payments can be seen in roulette,dice and other game like those.

[robelneo]

.

In time crypto casinos may absorb the whole fucking thing.

I don't know if it is bad or good but, that's the best use case of crypto.   (anonymous gambling)

It's already happening we have seen migration, people playing in the Crypto gambling sites did not learn to gamble because they join a gambling site they migrated from Fiat to Crypto, there are so many things that attract them to Cryptocurrency gambling, it's like hitting many birds with one stone, like anonymous, maximize their bet because of the nature of Cryptocurrency, and the fact that Crypto gambling is growing.

[sunsilk]

They just want to ride the hype of cryptocurrency gambling sites and take a share of the market for theirs. It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat. It's one of the main reasons I see why people prefer crypto gambling sites more than traditional fiat online casinos. It seems like you have no freedom to bet whatever amount you have in mind in these casinos which is a bummer especially if you want to last in the casino and just have a good time.

And what's worse is that they can't be as good as the crypto casinos that allows to bet even under the minimum amount of these traditional casinos that just recently adopted cryptocurrencies to their payment method.

Someone has noticed this too. They have been noticing the side of crypto market that has a huge amount of shares to the entire gambling industry. They have no choice but to get up with it and stay up to date.