Bovada removing bitcoin as payment option

[mu_enrico]

mBTC denomination is only for whales, even uBTC denomination is too expensive for me. I did uBTC bet when the price was $6k-$7k, but now it's just no way!
Therefore, it has no effect as long as users can deposit BTC and play with its fiat value, which is pretty much best practice on crypto casinos.
Anyway, if they really remove BTC as deposit/withdraw method, then it's their loss as we can pick other hundreds of crypto casinos to play.

[michellee]

Maybe there's a conflict on the regulatory requirements, you know the regulations change from time to time and I believe Bovada would love to continue accepting bitcoin if there's no problem with their regulators. I'm trying to find the reason online but there's no article stating about it, so we will be left speculating here.

They do not give the real reason they stopped accepting bitcoin and members could only follow their new rules if they still want to play there. Even if there is a conflict with the regulator, they will not tell the public about that problem and keep it for themselves. But hopefully, that is just temporary so their members will hear something related to that news and if Bovada can accept bitcoin again, that will make their members happy.

[robelneo]

My anonyance is the rate at which online casinos make decisions without passing a questioner so they can get reactions from their users before making any decision. We are gradually coming to a autocratic era where casinos just jump into decision making forgetting their decisions affects their customers. There is actually no legitimate reason for this action. I'm not buying into it at all

They should do a poll or a consensus at least even if their decision is final so they know the sentiment or opinion of their players, It's their loss anyway, My country is restricted in that country and I'm not very familiar with this casino, anyway they will soon find out if many players will prefer to play on other casinos because of their decision to do away with Bitcoin, I hope there will be no more casinos who will act like that

[ChiBitCTy]

For me the moral of this story is their connection to Calvin and his connection to Craig Wright is enough for me to say it's time to find a new option to use going forward.  I have to say I've been very happy with Bovada since I started using them several years ago, they've always had very solid customer support etc, but I just can't support the possibility of their ownership, personally.

[acroman08]

What a stupid move. Why would you remove a method of payment that is efficient, quick, safe and had already implemented in their platform that is what may cost more money at the beginning. They do not seem to have given an explanation which means that there may actually be a fault or a security hole in their implementation and this may then be a forced solution to it. Oddly enough they do accept other cryptos.

They probably don't like losing so much bitcoin out of their pockets especially right now that the prices are going high and at the same time the prices are hovering at values that's really significant and has no sign of going down much further than that. I think it's actually a good thing, gamblers won't waste their bitcoin and can hold on to it much longer.

ralle14 cleared things up, check his post(1). Bovada is not removing BTC as a payment method on its platform. they are only removing "mBTC" denomination. depositing in BTC will still be available according to the subreddit thread ralle14 shared on his post.

[Silberman]

My anonyance is the rate at which online casinos make decisions without passing a questioner so they can get reactions from their users before making any decision. We are gradually coming to a autocratic era where casinos just jump into decision making forgetting their decisions affects their customers. There is actually no legitimate reason for this action. I'm not buying into it at all

The owners of a casino can operate it in any way they want, after all it is their property, however since they are operating something which needs the support of the public to succed then it would make sense if they consulted their customers about some important moves before actually doing them, some speculate this has to do with some new regulations but that does not really explain why they kept altcoins while dropping bitcoin support at the same time.

[Fortify]

mBTC denomination is only for whales, even uBTC denomination is too expensive for me. I did uBTC bet when the price was $6k-$7k, but now it's just no way!
Therefore, it has no effect as long as users can deposit BTC and play with its fiat value, which is pretty much best practice on crypto casinos.
Anyway, if they really remove BTC as deposit/withdraw method, then it's their loss as we can pick other hundreds of crypto casinos to play.

It is true that a lot fewer people are seeing Bitcoin as a usable currency any more and it is becoming simply a traded commodity. I guess if you are a pure speculator then it is better as a commodity like Gold, which is much easier to move around and has a very liquid market of buyers. However volatile assets like Bitcoin can be a bad thing (or a good) for gamblers depending on which way the price moves. The general trend has been up for a long time now, so if you bet money and lose - you lose even more as the price continues to rise after you handed over your crypto to the casino. It'd be better to bet in something like USDT instead that you know has a fairly reliable value that will not fluctuate anywhere near as much.