Auto Deduct System

[Fundamentals Of]

I think that if there is such a kind of site as this, I believe the feature of auto-betting whatever is the balance in your wallet is under the control of the account owner. The gambler must have the option to auto-bet or not the money in ones wallet.

There must be some misunderstanding because from what I understand the wallet will make it easy for the players to deposit directly without having to make transactions manually but the wallet itself gambling sounds funny and unrealistic.

I'm also confused with the exact point of OP but if what he meant is that suppose there is a mechanism for a gambler to attach his wallet to a gambling platform and that every time the wallet has funds in it, the gambling site would automatically place bets until the funds are drained or withdrawn, that is very unfair. Not only should there be a stop button, there should be an option as to whether the gambling site should auto-bet the funds or not.

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

[imstillthebest]

i love the idea of importing the wallet and playing imediately ,no need to hit that deposit button but the function of a gambling site should remain the same like the functions we have now  .
 its dangerous if there is no stop function for an easy win game such as dice because in dice games we can bet on lower odds but it would be alright with lotto games because its harder to win on them .
we dont need to visit the site and bet after a loss but the site will bet for us automaticaly .

[kotajikikox]

This is fine as long as the site is legit and as long as those funds are really meant for gambling, the fees are just my concern here, auto deduct must be more specific since having transactions every time balance occur can cost you a lot. Personally, i don’t want to link my wallet on any gambling site the risk is high for this.

Yups Fee is the most concern here but about the wallet connection to gambling site? if you are using exchange wallet like Binance then you'll have not to worry at all
because they are fine using gambling platform from transferring our funds.
(Well lucky for Filipino not having issue from Binance)

i love the idea of importing the wallet and playing imediately ,no need to hit that deposit button but the function of a gambling site should remain the same like the functions we have now  .
 its dangerous if there is no stop function for an easy win game such as dice because in dice games we can bet on lower odds but it would be alright with lotto games because its harder to win on them .
we dont need to visit the site and bet after a loss but the site will bet for us automaticaly .

yes these is a cool feature (Though this is from Lotto site?) hope those major gambling site will also have this one so we can enjoy more playing after playing lol.

[madnessteat]

Such a system only works in favor of the casino and the player will go bankrupt very quickly, as everyone has long known that when playing with negative expectations in the long term player will lose absolutely everything.

I would not recommend connecting your wallet to such a system.

[AicecreaME]

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

I think this feature doesn't make sense.

Imagine you forget you turned on this feature (if they have enable and disable option) and you just saving money on the wallet connected on the gambling site, then one day you're excited to see how much did you save on your wallet but you surprised yourself instead because you don't have any money on your wallet because of that kind of feature. It's like creating your own ghost and getting scared because of it.

It's still much better to manually make your own bets to feel the thrill whenever you play gambling, in my opinion.

[Ziskinberg]

I'd rather go with the current system where you create an account on a site and you send your deposit to gamble. That really looks like a decentralized gambling platform but IMO it's quite risky as you need to link your wallet unless you'll create another wallet just for gambling purposes.

Also, we should talk about the gas, as that means there's a transaction coming in or out since our wallet is not internally linked to the gambling site.

[stadus]

That's not fun because of the reality that the longer you gambling, the more chances you lose.

Speaking about Dice, you know there's a house edge even if some casinos only have 1/2 of 1% house edge but you'll still lose in the long run.

What you are doing is just you are just feeding the casino to be profitable, not only to gamble while you have money, maybe it's also nice if there's a feature that you'll stop when the profit is already achieved and it will automatically send your wining in your wallet.

[harizen]

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

That's not a good idea. Or if implemented by a gambling site, it should have a feature of turning it ON and setting it to OFF by default.

In that way, unauthorized action won't be triggered as that would result in an unexpected loss.

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

Checking the site, I see that it's more appropriate and good for a lottery. But again, should have an ON or OFF which I think doesn't have and the only way to get out is the one you have mentioned.

For dice games or any casino games, that feature is not appropriate.

[just_Alice]

I think this kind of system is more desirable for the casino owners rather than for players. The only pro here is that you don't have to spend time making bets, which is very suitable for the casino, because you spend all of your money and pretty fast. The cons?
1. No joy, because you're not quite participating in the process;
2. You can forget about that system and the money you need will be automatically spent on gambling (which can be fixed with a stop button, so I support the idea of having it added to the system);
3. In the end you lose. That's right, the whole point of gambling in games like slots, dice - is fun, there's no point in trying to win against the house edge in the long run. So, basically, with no participation, adjustment, and no stopping, it'll be like slowly giving away all your money.

[boyptc]

I think it's a good idea just like those projects that usually being connected to Metamask. A casino can connect Metamask or any type of wallet that it supports.

I can imagine how the process will go but I don't know if the casinos will consider it.

I think if there's a third party apps involved in making a transaction with metamask there is a confirmation first that you need to confirm first before the transaction takes effect. I don't know if you have tried it but this is what I noticed so it should have a confirmation to the user first before doing any transaction which means your funds won't automatically be deducted if you confirm the transaction first. I think this is the flaw that the auto deduct system should implement and fix if it's already existing.

Yes, just as metamask there's a confirmation notification first to pop out.

I've tried it but we will never know if the casinos is approved to them. But as we know, innovation is unstoppable and upgrades are needed. I think we'll see something the same in the future.

[Saint-loup]

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

...

I just now heard this auto deduct system, if this really happens by a most gambling site, I will suggest to avoid them earlier.

yeah definitely a bad Idea, as they might get an idea to configure this to deduct other coins from the wallet that has been connected.
Though I didn't think of it at firzt but there are seems to be some flaws here, though the idea itslef is considerably good.

What do you mean exactly by "connecting a wallet"? How could you connect a wallet? If you mean giving your private key to a platform I would never do that, even with a reputed platform I think. Because when someone knows your private key he can do whatever he wants with your wallet, he can use it to spend dirty money and sign messages from it. Moreover if someone sends funds to the wallet in the future thinking it's still your own wallet you will lose the funds.

[goinmerry]

Yes, just as metamask there's a confirmation notification first to pop out.

On the site shared by OP, once there are enough funds on the wallet, it will be automatically deducted as a ticket fee on the lottery.

The lottery is once a week so I think it's a good feature. I'm sure people who will use the site will be aware of that.

But if the system will be applied to dice, it's a bad idea. Better just stay the usual betting on dice and I doubt a casino will consider implementing it.

[chaser15]

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

There should be a stopped button or something like we don't want to include the address on the automatic lottery draw every week.

This is the first time I saw that kind of system. How much is the ticket? Those who have a balance less than the price of the ticket are safe with the deductions.

[Lorence.xD]

That's a dangerous feature because if you think about it, people are always going to neglect that kind of feature and then the next day, they have zero funds left. Also, some people might lose more than just money especially the careless high rollers.

[crwth]

Wouldn't you just lose everything on that wallet? It depends on the game that you are playing. Dice games are a bad idea. If it's in a lottery, it's good because every time you deposit something, you automatically buy a ticket. You would really have to be freaking lucky to win in that game though but if you are just willing to lose money on it, why not right?

[xSkylarx]

There should be a stopped button or something like we don't want to include the address on the automatic lottery draw every week.

This is the first time I saw that kind of system. How much is the ticket? Those who have a balance less than the price of the ticket are safe with the deductions.

Each lotto token costs $0.029 right now and needs atleast 25 tokens based on the previous draws so qualifying for the lottery is not that expensive. If converted to fiat, the requirement for each draw is only $0.72 which have a chance to win lotto tokens equivalent to 200$. With the 4000 current token holders, they get more from their deduction than their prize gives. They did an airdrop way back January and I think mostly airdrop holders are only the participants of their lotteries. Gamblers won't like this type of system as it doesn't give the thrill or satisfaction of what a real gambling platform provides.

[Chato1977]

Such a system only works in favor of the casino and the player will go bankrupt very quickly, as everyone has long known that when playing with negative expectations in the long term player will lose absolutely everything.

I would not recommend connecting your wallet to such a system.

Absolutely , The longer we play is the higher chances of losing that's why disciplined gamblers only Allot specific duration of time for them to stay in betting.
so what more this Automatic deduction when we are playing?
no this is not good for my own interpretation .

[btc78]

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

This is some kind of addiction mate and i don't wanna deal with this , still believe that gambling in any form must be with our consent and by this way we are totally out of control and we allow the system do it for us in which fall to the idea of us being addicted completely and in harder way to recover.

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

Well in lotto? i think this will be cool because we knew how hard to win and this will only rely on luck so at least once in a blue moon let the system take charge and may give you the winning that only once in a trillion chance to win.

[Kong Hey Pakboy]

Absolutely , The longer we play is the higher chances of losing that's why disciplined gamblers only Allot specific duration of time for them to stay in betting.
so what more this Automatic deduction when we are playing?
no this is not good for my own interpretation .

Maybe you can use it to your advantage, I mean can see the convenience that this can do and if you can just put a certain amount of funds in the account and then start the auto deduction then probably you will be able to play dice while not being too hands on.

[owengtam09]

What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think it's reasonable not to have a stop button to exclude your address once you don't want it anymore?

I don't think that it is fine without the permission of the owner of the wallet. It is our right if we want to auto deduct our fund and plays it or we want to play it manually. It is now implementing, and others are fine with it, maybe they only have the amount that they can afford to lose with that wallet so even if it gets zero then it's fine, but if it gets profit then that's only a bonus for them.