Fiat-betting to crypto+betting

[Bushdark]

@Stedsm: Fiat betting sites are suffocating now. Many gamblers have left Fiat betting site to avoid big fee that is charged mostly when there is no competition. Crypto is changing the gambling world making it easier and better for you and myself.

@ Slow death: Everything in crypto is advantage. You are betting and at the same time holding. If the market spike, you win more. If market falls, you lose little and bet more to win big if your luck shines. Summary, crypto is king while Fiat is queen.

[Vaskiy]

All the points mentioned in the opening post was prevailing years and years back. This has seen gradual transition with time. Initially more gambling houses got licensed. This made the long queue shortened. Later the bookies gave more easier access. Later the online payment service made the gambling more efficient. People expected even better access and the cryptocurrency betting evolved. This is a long time process and this won't get stopped. The transition keeps on in different forms.

[Naficopa]

@harizen: The government may later come after crypto betting with kyc but I know there will be some platforms that will need no kyc. Government are stubborn but with time, crypto will be everywhere.

It's expected and the fact there are gambling sites already that imposed a mandatory KYC. Game license providers are the ones being pressured.

Everyone should be ready for that. It's just unfortunate that we might not soon experience the very first reason why we choose crypto-betting. But today, just enjoy the privilege and perks we are experiencing playing in our favorite crypto-gambling sites.

Despite the pressure of the authorities to have everyone pass KYC verification, I think there will always be an anonymous casino on the market that will not require verification. Governments will probably want to eliminate anonymity from cryptocurrencies completely, but I don't think it will ever be 100% possible.
Certainly, anonymity is the advantage that sped up crypto gambling the most.

[Bushdark]

@Naficopa: Anonymosity makes crypto betting interesting. Increases the vibe to bet more.

@harizen: If you have a gambling site, will you allow kyc? Those that make kyc mandatory are not yet in the game. Main aim of Bitcoin is anonymous identity so why kyc. Government are coming. They want to control crypto same way they control Fiat. Pilot your ship and ignore them like a pot hole.

@Vaskiy: All points mentioned? We are walking to the promised Land.

[agustina2]

The regime of Bitcoin has made online transactions easier for everyone.

I'm with bitcoin, I'm with crypto betting but it's more convenient to make deposits on fiat gambling sites and all need is 1 click. Fees are also cheap compared to paying with crypto. Maybe it will be solved if some gambling sites will cover most coins like the popular ones are doing currently.

The only advantages of crypto are anonymity and privacy and that's what most gamblers want. But in terms of online transactions, crypto is still far from taking over the fiat payment transactions in terms of convenience.

[harizen]

@harizen: If you have a gambling site, will you allow kyc? Those that make kyc mandatory are not yet in the game. Main aim of Bitcoin is anonymous identity so why kyc. Government are coming. They want to control crypto same way they control Fiat. Pilot your ship and ignore them like a pot hole

Why asked that question for me? In the first place, it's not what I mean to my subject.

First of all, gambling sites within the crypto world "should not" have KYC terms. I'm vocal about that since then and in case my preferred gambling sites ask for mandatory KYC, I will not use them anymore. I mentioned that several times before.

And for your question why the government is coming is because people themselves are seeking help from the government in case of a money-laundering regarding their crypto-transactions. A good example is the crypto exchange. Before, most exchanges don't have a forced KYC for their users but today, almost all crypto-exchanges do have that mandatory requirement. Some gambling sites are now also asking for KYC if their account got flagged or having a big win. With that cases, we can't expect that we can still feel the full privacy and anonymity using crypto-gambling platforms.

[Naficopa]

@Naficopa: Anonymosity makes crypto betting interesting. Increases the vibe to bet more.

I don't know exactly what you mean, but for me, anonymity is more like tax avoidance. But you are right, it also allows us to bet more.  

@harizen: If you have a gambling site, will you allow kyc? Those that make kyc mandatory are not yet in the game. Main aim of Bitcoin is anonymous identity so why kyc. Government are coming. They want to control crypto same way they control Fiat. Pilot your ship and ignore them like a pot hole.

We as players can ignore this until we have a choice and there are casinos on the market that do not require KYC verification.
Governments, however, will be pressing more and more, and if the casino wants to keep its license sooner or later it will have to make verification.
Probably the only option for us will be casinos that will work without a license, but then we will also have to take into account the risk of being scammed.

[Bushdark]

@harizen: The question is general not direct to you. Remember that the aim of crypto is for fast and anonymous transactions but scammers and money mongers turn the plat to satisfy themselves trashing the objective. Life has to be balance.
 
Note: if the number of positive charges is not equal to negative charges then the objective is half filling. Bad eggs are everywhere. Why government makes law that affect everybody? So everyone suffers. Who cares

[Saint-loup]

Is it really necessary to discuss the advantages of crypto betting over fiat betting? For what? Encouragement?

Remember not all gamblers are crypto-oriented and simply just don't want to crypto. It will be biased if we will just push our own preferences to them. As long as gamblers are enjoying advantages at either fiat or crypto betting, that's what matters.

Choose what you preferred, simple as that.

I don't understand why you are actively promoting one of the biggest crypto casino and sportsbook, if you don't like crypto gambling and don't see how it's better than fiat one. This gambling platform is fully committed to crypto gambling and doesn't even offer to bet with stable coins, then members of its community are mostly crypto fans. Moreover fiat gambling operators don't need publicity they are already everywhere on internet and in real life.

[shield132]

Fiat betting was once the order of the day making online betting difficult to play mostly for international gamblers that have no access to international money transfer services like money gramme, PayPal, Wester Union and so many more. Online gambling was mostly difficult then but now. The regime of Bitcoin has made online transactions easier for everyone.

Gone are those days where you will have to queue in a betting shop to play bets(sport bet mostly)
Gone are those days where online betting is limited.
Gone are those days where there are few betting sites available for bet enthusiasts.
Gone are those days when gambling is for the rich.
Gone are those days where international sport betting transactions are stressful.
Gone are those days when people are afriad to buy Bitcoin.

Now we have some many altcoins that can be use to play bets online. We are gradually walking into the blockchain era. God bless Satoshi Nakamoto.

What advantage does the crypto betting has over Fait betting?

I would say - nothing dramatic. I don't know where you are from but I can definitely say that it wasn't hard for anyone to gamble online. Well, at least in my country it was as easy as ABC and the casinos were putting all the efforts to make gambling available for everyone and it was very easy to make deposites in casinos. You could pay with almost any card, you could fill any casino account with any local Payment Kiosks. These casinos even created their own anonymous cards for gamblers and people are able to withdraw money on that card and pay at grocery stores, withdraw from ATM without fees, etc. My country is really heaven for gamblers.
The only benefit that crypto bought into gambling is some very unique games like Dice, Bustabit, the possibility to bet 1 satoshi that's equal of 0.0001 USD and even lower, depends on the price of bitcoin.
Also, another advantage can be the reward system that freebitco has with their supported FUN token.

[Bushdark]

@shield132: you know cypto betting has more games than fiat for easy maneuver. Some crypt betting site does not have a limit of deposit. It makes you gamble to your satisfaction while Fiat betting is always on watch. There are more to crypto betting if not, read through.

@Naficopa: tax avoidance is not in my book. Anonymous can be in any form. I know many betting site that slightly encourage slight kyc like phone number. Sooner kyc may be knocking on our doors. Who knows what can happen next.

[Naficopa]

@Naficopa: tax avoidance is not in my book. Anonymous can be in any form. I know many betting site that slightly encourage slight kyc like phone number. Sooner kyc may be knocking on our doors. Who knows what can happen next.

I didn't mean to encourage tax avoidance, but I think anonymity can be encouraging for many people.
Certainly, introducing verification in small steps will be practiced. Bookmakers realize that by introducing a verification order overnight, especially in crypto, they will lose a very large proportion of their users, if not the majority.

[chaser15]

@Stedsm: Fiat betting sites are suffocating now. Many gamblers have left Fiat betting site to avoid big fee that is charged mostly when there is no competition. Crypto is changing the gambling world making it easier and better for you and myself.

Do you have a proof for this or any related article or news that many gamblers left fiat betting? During the pandemic, players gambling online increases their numbers, especially in the European region. It was mentioned several times on the news.

It's impossible for me to think that majority of them are crypto gamblers.

[Saint-loup]

I would say - nothing dramatic. I don't know where you are from but I can definitely say that it wasn't hard for anyone to gamble online. Well, at least in my country it was as easy as ABC and the casinos were putting all the efforts to make gambling available for everyone and it was very easy to make deposites in casinos. You could pay with almost any card, you could fill any casino account with any local Payment Kiosks. These casinos even created their own anonymous cards for gamblers and people are able to withdraw money on that card and pay at grocery stores, withdraw from ATM without fees, etc. My country is really heaven for gamblers.
The only benefit that crypto bought into gambling is some very unique games like Dice, Bustabit, the possibility to bet 1 satoshi that's equal of 0.0001 USD and even lower, depends on the price of bitcoin.
Also, another advantage can be the reward system that freebitco has with their supported FUN token.

I don't know where you are living and if things are still going like that in your country(you speak in the past tense) but in most of countries gambling is a highly regulated activity when it is allowed. Moreover usually banks don't like gamblers because they can quickly lose high amounts of money and taking out loans they can't pay back, then you can get into trouble with your bank if you spend big amounts of money into known casinos.

[chaser15]

I would say - nothing dramatic. I don't know where you are from but I can definitely say that it wasn't hard for anyone to gamble online. Well, at least in my country it was as easy as ABC and the casinos were putting all the efforts to make gambling available for everyone and it was very easy to make deposites in casinos. You could pay with almost any card, you could fill any casino account with any local Payment Kiosks. These casinos even created their own anonymous cards for gamblers and people are able to withdraw money on that card and pay at grocery stores, withdraw from ATM without fees, etc. My country is really heaven for gamblers.
The only benefit that crypto bought into gambling is some very unique games like Dice, Bustabit, the possibility to bet 1 satoshi that's equal of 0.0001 USD and even lower, depends on the price of bitcoin.
Also, another advantage can be the reward system that freebitco has with their supported FUN token.

I don't know where you are living and if things are still going like that in your country(you speak in the past tense) but in most of countries gambling is a highly regulated activity when it is allowed. Moreover usually banks don't like gamblers because they can quickly lose high amounts of money and taking out loans they can't pay back, then you can get into trouble with your bank if you spend big amounts of money into known casinos.

Isn't it the other way around? Banks like those users who are spending much for them to take loans?

Beforehand, banks do have a character identity process and if that person is capable of taking loans. If that person approved, banks can now take collaterals just in case that person doesn't have the ability to pay in the future.

They will have the advantage of those users that will ask for loans. Only for those who are qualified.

[Rajamuda]

Because of the presence of crypto, it has been proven that gambling sites are even more popular, and the gambling world can also affect price movements because there are definitely some people who buy crypto just to gamble, this is easier and less complicated than betting with fiat on certain online gambling sites.
Crypto gambling is like a complement, of course it can be used as a spare time filler as entertainment.
Over time, later betting with fiat will be considered ancient and left behind.

[traderethereum]

Because of the presence of crypto, it has been proven that gambling sites are even more popular, and the gambling world can also affect price movements because there are definitely some people who buy crypto just to gamble, this is easier and less complicated than betting with fiat on certain online gambling sites.
Crypto gambling is like a complement, of course it can be used as a spare time filler as entertainment.
Over time, later betting with fiat will be considered ancient and left behind.

People will think about hiding their activity while playing gambling and will see crypto can be their solution to gamble anonymously.
So that will make them like to use crypto to gamble as crypto offers easiness to just playing gambling.
They will know the other benefits of using crypto furthermore as they see that crypto can be their new investment in the digital currency.
Playing gambling is entertainment, whether they use fiat or crypto, so they will be considered using crypto to make money or just to gamble.

[bitzizzix]

there is another big advantage of cryptocurrencies which would be:

when a person bets 0.001 BTC and the bitcoin exchange is at $30,000, then the person wins a bet and have 0.002 BTC and after a few months the price rises to $60,000 the person manages to make a profit with a bet and still profit with bitcoin increase, this in my opinion Is fantastic

That's right, that's one of the advantages if we use crypto it has two advantages. the profit if we win in gambling and also the profit will be doubled if there is an increase in the crypto coins we use and it is real, and when that happens I will immediately transfer it to my wallet.
Another advantage of using cryptocurrencies is that there is no exchange of sensitive information and no possibility of our personal data being hacked and moreover anonymity, and having a lot of choices in games and other advantages.
actually use crypto or fiat out of habit and also there are still many people who don't know the advantages and disadvantages of using crypto, and who use crypto to bet only those who understand.

[ralle14]

As much as I like how crypto betting is getting popular since it offers convenience I still think fiat betting will continue to thrive because some of the biggest fiat sportsbooks like bet365 are still miles ahead over crypto sportsbooks. One neat advantage of crypto casinos is the processing speed of the transactions, there are a couple of casinos that credits the deposits and withdraws instantly. Also another advantage is probably the bankroll investments, not all casinos are willing to share a portion of their profits but there are some owners who'll use it as a way to keep their players interested.

[LUCKMCFLY]

The truth is, I believe that betting with crypto is much better because there are many ways to be anonymous, currently the platforms are demanding a lot of KYC, which can be equated with the requirements of FIAT money, which always require being registered and having certain identification, currently it is a prerequisite for some platforms. When we make bets with crypto it is simpler, they can be made at any time of the day and the ease is that it can be done in any cryptocurrency that the platform accepts, this guarantees the low fee required.