Fiat-betting to crypto+betting

[btc78]

What advantage does the crypto betting has over Fait betting?

Of course the advantage that while we are betting the opportunity of increasing the value of the coins we are using may increase ,
Imagine Having 1k worth of Crypto now and using for betting and then the value of that coin increases as we play to double then how much we can withdraw?
while on Fiat the amount we use and hold will be the same while we progress in playing no matter how much the price of cryptocurrency moves.

[Cling18]

We could really see how Bitcoin made our lives more convenient and we're now able to enjoy gambling more because we're able to play through cryptocurrency anytime and anywhere. Our lives really became easier because of blockchain technology but we can't deny the fact that fiat is still needed for us to encash whenever we need funds for our necessities.

[davis196]

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.

Paypal isn't gambling friendly,but other fiat payment providers like Skrill are being accepted by many casinos.I've seen multiple online casinos,slots websites and sports betting platforms to accept Skrill as a deposit/withdrawal option.
Anyway,cryptocurrencies made gambling more anonymous and more convenient,but the online gambling industry was convenient enough before the rise of crypto.

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.

Dude,are you talking about the 90s or early 00s?
I don't really think that there was a time,when gambling was "only for the rich".
Actually 99% of the gamblers were always poor and middle class people.
Online gambling is way more convenient than offline gambling,but it's still heavily regulated in most countries.
Thank God we have some offshore islands like Curacao,providing the casino owners with affordable gambling licenses.

[dustboy]

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 happen only if the gambler hold his bitcoin, if he exchange it to fiat immediately after the win means that the price change is not an advantage. Assuming that the gambler hold his bitcoin hold the bitcoin after the win, it can be both disadvantage and advantage depending on the price movement. It will be an advantage if the price rises but it will be disadvantage if the price falls down.

[YOSHIE]

What advantage does the crypto betting has over Fait betting?

There is definitely an advantage, be it in terms of betting or something else.

Fiat and crypto have their own advantages in betting online or physically, where if we bet with crypto we don't have to have more $1-10 we can already place bets anywhere on behalf of online gambling sites, that's the advantage of crypto in my opinion.

As for fiat, as you said we have to queue first to wait for bettors to come out or lose, besides bets with fiat can't place a $1 bet at least we have to have a supply of money for a $20 bet one time, it's low class, it's a different story in high end bets with $20 money if you bet, at a classy table, surely other bettors will laugh at us.

What is certain is that online betting using crypto is more profitable and superior today, with the technology that exists today.

[Wexnident]

Excluding the fact that it's online which makes betting less of a hassle (and at your own comfort), crypto in gambling pretty much improved the transparency of casinos towards their results and also allows anonymity to a certain extent. The general idea of betting is still there, it's just that crypto (or online in general)  makes it much more comfortable and easy to access compared to the past. Plus, I'm not sure whether to make it as a positive or not really, but people who don't want their identity to be revealed can easily register without much trouble.

[Davidvictorson]

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 like the generalization but sadly it is not the reality in most country especially the country in which I presently reside in. Folks would rather go with fait betting than with crypto betting. Over here, crypto is the new gold and one's most priced possession and it's not something they'll use "carelessly". Because for some, it took them a lot of sacrifices which includes dropping out of college to get to where they are in their cyrpto-journey so they'd rather use it for trading than for betting. To them but not all, fait betting is just fine.

[magneto]

The lack of KYC, and it is generally a lot less prone to bookmakers banning accounts etc.

Crypto withdrawals are also lightning fast which is in direct contrast to fiat withdrawals which can take up to days even with top tier services such as Betfair.

It's just that the limits are generally lower and odds are a bit worse. Otherwise there's really no reason why anyone would want to use a fiat sportsbook.

[michellee]

Crypto changed people's lives because they can use crypto to hide from sending and receiving the funds, plus they can also use it to play gambling. The anonymity will be the biggest advantage from crypto to people who use it while searching for the merchant or other website to pay using crypto. Crypto helps people to gamble with ease as they can buy crypto from the exchanges and send it into their gambling website account and start playing gambling. But I think some people still use fiat to gamble as they still feel comfortable using the old way than trying to use crypto. So that will be up to them to decide.

[noorman0]

The lack of KYC, and it is generally a lot less prone to bookmakers banning accounts etc.

In fact crypto has brought solutions to some of the complex problems of traditional casinos such as removing identity requests for casino violators by simply signing ownership of addresses which should be considered sufficient. It's just that casinos do not take advantage of that and prefer to hold gamblers' money under the pretext of KYC policies, that's not different from gambling using fiat.

As I said a while ago, certain crypto adopting casinos are still not ready for decentralization. The only instant benefit is unlimited use of any casino platform worldwide, but you will no longer be anonymous once you break the rules.

[Findingnemo]

Both gambling and the crypto currencies helped each other with others adoption respectively.

Not only the gambling even remittance services become more convenient after crypto now more and more companies are adopting cryptos because its clear that cryptos are going to play a huge role in the future.

[noormcs5]

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?

There are two advantages of crypto betting over fiat betting

1- In most cases of fiat betting, your identity can be traced by in crypto betting, you can bet anonymously on international gambling sites.

2- Even the minors and kids can gamble and bet because you don't need to use your credit / debit cards to pay for gamble . There are many non-kyc gambling sites available worldwide

[Bushdark]

@noormcs5: crypto betting is anonymous. It is hard to know the real gambler while Fiat is a free mode for any person to come for you through withdrawal access. If a person account become hacked, personal information can be tracked.

@Findingnemo: Fiat and crypto may work hand to hand but soon everything will change for good.

[mu_enrico]

I prefer the deposit with crypto, converted into fiat, and then withdraw with crypto mechanics. This way, I don't have to worry about volatility, especially if I play with altcoins. It's actually better to play with BTC tho since the price is relatively more stable than alts and the bullish sentiment, however the deposit + withdrawal costs force me to pick the earlier mechanics. Crypto has more privacy as well, but I'm afraid it is difficult to maintain complete anonymity as more and more casinos require KYC. Nowadays you can only play hash games on anon casinos.

[perfect999]

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.

That's right but a lot of gamblers who are new to this online crypto gambling scene needs to know the advantages crypto gambling has over the traditional ways. I must say that gambling has been among the biggest contributors for the rise of Bitcoin and cryptocurrencies as a whole and I don't see a reason why we should shy away from promoting crypto gambling as long as it's legal and we are promoting legit casinos.

The biggest advantage I feel crypto gambling has over traditional is that we can bet any amount we want because in a real casino you cannot just make 5 cents bets.

[Fortify]

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.

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'd say the only real advantage you could get by betting via cryptocurrency is avoiding the laws of certain countries where it may be illegal. If you wanted to bet and lived in Iran for example, there are zero legal outlets even if you did not follow the religious law that covers the country. Whether you should be breaking the law is another question, but if the casino you're playing at doesn't use any sort of KYC authentication then there is much less risk that you would be exposed in future. Besides that, you are probably legally safer by sticking with the multitude of fiat betting sites in your country if there are no withdraw fees, because most cryptocurrencies have an extra conversion fee involved. Alternatively you might look at the volatility of cryptocurrency as a bonus way to boost your casino bankroll value.

[South Park]

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?

This is why cryptocurrencies and gambling are such a strong combination, even if you had a bank account and PayPal did you really wanted to use them and allow the casino to get all of that information out of you when the only thing you wanted to do was to play some games? Now thanks to bitcoin we have retained some level of privacy and that is huge as this is getting more and more difficult since governments and private companies do not want you to have any privacy at all.

[Bushdark]

@South Park: Government does not want our information to be hidden from them. They wanna come for us now to gain that power and influence but time will tell. Few gambling platform with never want to lose there customers. They still do mini kyc to have a taste of our identity. Thanks to Satoshi for bringing Bitcoin to our table.

@Fortify: Nobody is running from anything.

[l3pox]

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.

KYC vs no-KYC will always be like a cat and rat game
even if gonverments enforce casinos to ask for KYC they could move to different countries where there aren't laws like that

KYC can hurt more than help too because it incentive people to fake documents and create an incentive for black markets to be stronger on stolen documents
idk

[darewaller]

1. It's more private

Honestly speaking, no it's not. Crypto betting is slowly moving to fiat gambling standards. More and more sportsbooks are now asking for KYC. That said, the casino part of crypto gambling is still very safe and respects privacy.

2. It have more options

Actually, crypto gambling sites are miles behind when it comes to fiat online casinos but yeah better than local sportsbook where you have to wait in queues and then go back to cash your winnings.

I believe crypto gambling was much better with no restrictions and KYC but the way it's going now, I can't say it's progressing too well.