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

[BitcoinTurk]

I think that there is a difference between both services, although their games or many advantages are similar in their two services and it is claimed that they offer the same quality of service. For example, it is possible to say that many services that provide the ability to gamble with cryptocurrencies attach importance to user anonymity and do not request their users' private information such as identity information, but that many services that provide online gambling service with fiat currency request identity and similar documents to confirm user membership. we can see. We can also see that services that offer gambling with cryptocurrencies generally apply much lower commissions for transactions such as deposits and withdrawals. On the other hand, it is important not to pass without mentioning the fact that websites that provide gambling with cryptocurrencies are generally too low in minimum betting limits.

[serjent05]

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.

It is a reasonable move for these originally fiat only casinos.  It is business, so whenever there is a booming market, they will follow.  anyway, I also noticed this thing to some crypto casinos, especially on slots.  I always experience that whenever I am playing slots my cryptocurrency is automatically converted into points which has an equivalent value in USD.  I think it is not the casino owner's thing but rather the Casino game provider.

[Kakmakr]

I am still trying to get one of the Game developers to respond, but in the meantime I found this :

" Fundamental differences between crypto casinos and online casinos?

There are significant variations between crypto casinos and other casinos online. The most important thing to note is that there are numerous types of crypto casinos. There are 3 popular variants of crypto casinos. The first is the complete crypto casinos where all transactions must be made with cryptocurrencies. Second, the semi-crypto currency casinos or mixed cryptocurrency casinos where payment and withdrawals can be made using digital coins as well as other traditional payment methods. The third type of crypto casino is private casinos that provide closed-source computer software and exclusive games. The shared characteristic between these variants is the fact that bitcoin and digital coins are acceptable modes of payment on crypto casinos. In contrast, most online casinos may not accept digital coins.

Crypto casinos may not be legally authorized, in contrast to online casinos. However, some established crypto casinos may be legally authorized by Curacao. Although the Provably Fair grade is awarded to some casinos without legal authorization as proof that they operate in accordance with the standard rules and regulations, thus showing that it is safe and legal to play games on the website. "

Source : https://bestnetentcasino.info/en/faq/what-is-cryptocurrency-online-casino

So they make a clear distinction between the different types of online casinos you get. I can understand that you have to keep the minimum bet the same for games with Jackpots.. because fiat players cannot pay more to play for the same collective Jackpot... but the other games should be different. 

I am sending emails to these guys, asking this question and I will posting this thread if I get a answer.

[bitgolden]

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?

Those fiats based gambling houses must need to do these so that they could retain their customers.

Time changes>> cryptos evaluate>> gamblers are looking for new things rather than sticking with what they have been used to for years.

So, Fiat houses must need to upgrade them up to the level of crypto gambling.

I believe it is not about minimum bets alone because crypto gambling houses are having many unique features which are not at all available with fiats houses, for example the crypto-only-gambling house is able to exist without the need of license and this way they are available to any country people whereas fist handling must need proper licensing for card processing and bank transfers.

Quick transfer of funds and attracting new customer-base from crypto community must be few other reasons.

[MFahad]

indeed in reality there must be gambling that can accept transactions using cents because it will have a good impact on gamblers who want to try to use their assets with very small amounts will not make them lose when they lose, at least by using betting in the form of cents can used for observation to various games.

If I was a casino owner, I would prefer having people gamble dollars (or at least cents) rather than a thousandth of a cent. Once minimum bet limits are higher, your profit and total volume increases as well. It would probably be even weird for a regular fiat gambler to be told that with crypto you can gamble a $0.002 coin (DOGE) satoshi, which is equal to literally nothing.

Both the fiat gambling and crypto gambling are different in nature. Those who do gambling with fiat, they normally do not think to gamble anything less than a cent.But those who gambler with crypto, they sometimes even play dice with 1 dogecoin. I think if anyone is playing crypto gambling with so less amount, it wont give him any monetary benefit.

[pixie85]

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.

Usually this is done to prevent people from running off with bonuses and freebies given to newcomers.

The casinos usually make it simple. Say they have 1 USD bets on their slots so when they introduce cryptocurrency payments you have the same 1 USD bets minimum just converted to crypto. They're like stores. You don't get real crypto bets you just get fiat balance based on your crypto deposits. It's still xxx USD just displayed as crypto.

[bitbunnny]

I think that differences among crypto and fiat gambling casinos are not that much in game offers and features but more in legal and regulation background. Differences in deposit.and withdrawal conditions are not that big.
There are a lot illegal crypto casinos because they are not under strict regulation and authorities don't pay so much attention to them. Also, fiat gamblers are different type of players and they have different approach, they are maybe more interested in security and trustworthy than to fast withdrawal. It's not a rule of course.

[maydna]

the gambler itself will look on different gambling sites, and if they see the benefits of the crypto gambling site, they will move to that site.

We just need to promote Crypto gambling site to the general public as something worth looking for gamblers, they have a lot of benefits compared to fiat gambling site we are in a new era of gambling form where bets are transparent and they respect the privacy of users, it's only a matter of time that Crypto gambling sites will dominate the field.

I agree with you. Privacy will be the thing that gamblers need to know because if they are using the crypto gambling site, they don't have to reveal their identity to the gambling site. Even they can hide in depositing the money because all they need to do is buying the crypto from the reliable sellers who can protect them from abusing the identity.

The promotion of the crypto gambling website itself will grow from time to time, so people who are familiar with the fiat online gambling will see about the crypto gambling website, and that can make them curious to try. They will feel a different experience while using the crypto as the bet, and I think they will feel comfortable to use crypto for playing gambling.

[Debonaire217]

I think that differences among crypto and fiat gambling casinos are not that much in game offers and features but more in legal and regulation background. Differences in deposit.and withdrawal conditions are not that big.

Perhaps, you need to perform a lot more KYC in fiat online casino compared to crypto, also, I find the restriction of fiat casino more strict in terms of countries allowed to play using their platform.

There are a lot illegal crypto casinos because they are not under strict regulation and authorities don't pay so much attention to them. Also, fiat gamblers are different type of players and they have different approach, they are maybe more interested in security and trustworthy than to fast withdrawal. It's not a rule of course.

Especially those, who will bet a huge amount of their funds, what is a fast deposit and withdrawal if they think it's not secured. Though, these features doesn't necessarily mean that crypto casinos isn't secured, in fact, with blockchain as their foundation, crypto casinos are more transaparent compared to fiat casinos.

[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.

Usually this is done to prevent people from running off with bonuses and freebies given to newcomers.

Prohibiting multiple accounts or accounts more than two are done due to this kind of abuses. But putting up minimum bets have more reasons than just avoiding newcomer abuses. I think casinos are putting up minimum bets probably to avoid nuisance bets flooding in.

[TheGreatPython]

With the micro payments support cryptocurrencies ease the gameplay while the same can't be done with fiat. Here the privacy, on-time settle of wins, and provably fair nature of the game will be perfect. With fiat based gambling sites the money making is the ultimate thing, and setting a minimum value similar to the cryptocurrency based gambling sites seems hard.

You are explaining the benefit of the crypto gambling over fiat gambling but I guess the question being asked is that, why and how to crypto casinos allow such small bets while the fiat casino would never allow such small bets while even the crypto casinos convert our bets into USD value so how do they allow so small bets while fiat casinos cannot.

I believe that is because of the preference I mean even the fiat casinos can accept such small bets but they have much more traffic and users that they don't need to accept the smaller bets. That is just my assumption though.

[Lanatsa]

the gambler itself will look on different gambling sites, and if they see the benefits of the crypto gambling site, they will move to that site.

We just need to promote Crypto gambling site to the general public as something worth looking for gamblers, they have a lot of benefits compared to fiat gambling site we are in a new era of gambling form where bets are transparent and they respect the privacy of users, it's only a matter of time that Crypto gambling sites will dominate the field.

I agree with you. Privacy will be the thing that gamblers need to know because if they are using the crypto gambling site, they don't have to reveal their identity to the gambling site. Even they can hide in depositing the money because all they need to do is buying the crypto from the reliable sellers who can protect them from abusing the identity.

The promotion of the crypto gambling website itself will grow from time to time, so people who are familiar with the fiat online gambling will see about the crypto gambling website, and that can make them curious to try. They will feel a different experience while using the crypto as the bet, and I think they will feel comfortable to use crypto for playing gambling.

Sure thing!

They would able to feel and tell the difference among the two when it comes to privacy thing where it would either interest them or wouldnt care at all.
Since theyve been playing with fiat for a while then most of the time they wouldnt mind much about their privacy.

Fiat casinos are just trying to jump in into other market which they do know that they can make money and its pretty obvious but they do stick
out into their traditional or own ways on handling things up.

[DoublerHunter]

^ Probably the reason is crypto is very popular nowadays and you can see it in almost all social media out there.
There is the main reason why those gambling site owners switching to cryptocurrency, they saw the potential on it especially when pandemic was on the earth and everyone suffered using fiat to avoid virus transmission. There are too many differences and I think the most have an advantage is using crypto than the fiat. Nevertheless, this will have an advantage to the crypto community and probably it will increase the mass adoption of crypto.

[MCobian]

Based on the research I've done, there isn't much difference between the two gambling sites. Both are very feasible to use,
but for someone who is very concerned about privacy. It's best to use true crypto gambling sites, which can usually play
without identification. If fiat sites to make deposits and withdrawals must first do the KYC procedure. Therefore true crypto
gambling sites are much more popular and widely used by the crypto community.

[masulum]

If fiat sites to make deposits and withdrawals must first do the KYC procedure. Therefore true crypto
gambling sites are much more popular and widely used by the crypto community.

Surely it will be easy for gambling developers to remove fiat and make 100% crypto. But, we know that all services must also comply with the regulations in which they operate their business, especially those that provide fiat withdrawal services and in countries where legalized bitcoin as a currency not only recognized or as a commodity. AML will be the reason why they will continue to request data later on.

[alani123]

There are quite a few differences but I think mostly the difference for a FIAT site would have to be compliance. Ofc FIAT casinos have opportunities to cheat from players in other ways aside of compliance. For example FIAT exclusive casinos don't tend to prove their fairness. They usually have software either they built or some third party company has made. Some huge conflicts of interest here.

[uneng]

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.

I think this is the most reasonable answer for the question on this thread.
But if that is really the case, it's already time for casinos to change their games' provider then, I wouldn't think twice between a casino offering small bet sizes such 1 satoshi and another with a minimum of 0,10$ per bet. The industry changed with crypto currencies arrival and traditional gambling casinos are on borrowed time. They need to follow the gambling industry improvements, otherwise they will be left behind...

[shoreno]

There are quite a few differences but I think mostly the difference for a FIAT site would have to be compliance. Ofc FIAT casinos have opportunities to cheat from players in other ways aside of compliance. For example FIAT exclusive casinos don't tend to prove their fairness. They usually have software either they built or some third party company has made. Some huge conflicts of interest here.

people dont dwell with that because fiat casinos are usually registered and have a working certificate  . under thier site we can see the brands that they are partnered  of or if thier site has already been featured  . that give confidence to the players to play and  they dont mind the site fairness anymore  but to the crypto casino its rare to see all those proof however crypto casino can show thier fairness or transparancy  . this is what crypto and blockchain all about or being known for being transparent  .

[Japinat]

Not only that, you also have to consider the regulation factor, fiat casinos are surely regulated and hence they need to comply with the regulation which is to ensure that all gamblers have a KYC, in crypto casinos, that is not necessary, we can just come and go even with new email address every time we gamble, the freedom is great with crypto casinos while in fiat casinos, you are being watched by the regulators.

Also, I agree on the amount of bet, there's a big disparity, crypto casinos caters small time gamblers while fiat casinos seems like anti poor casinos, lol,. sorry for the term .haha

[YOSHIE]

Can anyone in the gambling industry explain to us, why this is done?

Gambling has a method that includes components to determine for those who bet crypto & fiat gambling, in payment.

For me there is a difference in fighting crypto and fiat gambling sites.
Examples of crypto gambling.
• If you bet on gambling sites that provide cryptocurrency, after you determine your bet with crypto, you only need to be 'proficient' in betting.
if you are proficient in the game you have the right to take all bets placed by other members, opponent players, for example: sports gambling, poker etc.
The difference, there is no negotiation / bargaining if gambling with the crypto site cannot be canceled again.

Fiat gamble.
• while betting using fiat money, you can make an agreement when betting with fiat money or can take 'part/all' or 'assets/material', from the agreement, if you lose.
Or the debt will be able to pay for losses on the day that has been determined by both parties, certainly has a handle in a certain period.
The difference, it can be a negotiation.