Gambling In Crypto

[madnessteat]

I think that gambling with crypto is much better than with FIAT,you are not required to post any identity unless you hit a really big win and only then you may undergo verification of KYC (Know Your Customer).I think if you are not a whale,a normal gambler by gambling with crypto it is much better and safer as no one will know who you are not even the casino you are playing at.That is the major difference other than that they are pretty much identical,you risk your money in order to win more money.

Of course, crypto gambling allows us to maintain privacy without having to provide any identity to the sites we use (except email). We may also select sites that do not require winners to go through KYC to withdraw their money from the site. As for KYS, I'm not so sure gambling whales would be willing to give their identities to the site and this would be done by other normal gamblers as well.

The site reserves the right to request KYC from its gambler in certain cases. I'm not sure big wins are the reason why sites require KYC, usually because the user violated the ToS or some other violation.

The site may ask to go through KYC if your funds are linked to dirty wallets that are involved in illegal activities. You can get such funds through a P2P exchanger and not even know about it. So even if you buy cryptocurrencies with legal funds you should always be ready that the casino can ask you to confirm your identity at any moment.

[Fortify]

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

Well, If you're a fan of anonymity and you hate linking your credit card, debit card, or your PayPal account and other financial account, then I guess crypto casino and sports betting is good for you.
I can't think of anything that's more advantageous than this in Cryptocurrency compared to fiat betting.

You only need to be careful and read the company TOS to avoid your funds from getting compromised.

There are also lots of nuances that come into play that crypto can help get around - you mentioned credit cards, but this form of funding on gambling sites is often prohibited now, but you might be able to buy crypto using one instead. One of the major disadvantages of these crypto casinos is that they are often cloaked in anonymity, which can be a big problem if anything goes wrong and it is more likely to go wrong if the owners have less chance of facing criminal responsibility. You'd be surprised how easy it is to chain together these offshore companies, supposedly regulated, if you have enough cash to pay for the right services - you'd more likely to catch a ghost than uncover the real owners behind these layers of secrecy.

[dunfida]

I think that gambling with crypto is much better than with FIAT,you are not required to post any identity unless you hit a really big win and only then you may undergo verification of KYC (Know Your Customer).I think if you are not a whale,a normal gambler by gambling with crypto it is much better and safer as no one will know who you are not even the casino you are playing at.That is the major difference other than that they are pretty much identical,you risk your money in order to win more money.

Of course, crypto gambling allows us to maintain privacy without having to provide any identity to the sites we use (except email). We may also select sites that do not require winners to go through KYC to withdraw their money from the site. As for KYS, I'm not so sure gambling whales would be willing to give their identities to the site and this would be done by other normal gamblers as well.

The site reserves the right to request KYC from its gambler in certain cases. I'm not sure big wins are the reason why sites require KYC, usually because the user violated the ToS or some other violation.

The site may ask to go through KYC if your funds are linked to dirty wallets that are involved in illegal activities. You can get such funds through a P2P exchanger and not even know about it. So even if you buy cryptocurrencies with legal funds you should always be ready that the casino can ask you to confirm your identity at any moment.

Possible but in most rare cases because most gambling sites wont able to monitor out every single user in the platform on which they do able to see those vioation or lapses but to think that once you do get caught then for sure you would experience problems.

Its been years that possible KYC could really be asked out if there are malicious or shady activity that a user had able to commit with.So expect that odds of being on that situation could really be that high.

[Maslate]

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

There's no need to improve on our side but on the gambling operators, they have to compete very well in order to give us the best gambling experience. Most gambling sites now are creating their platform like a one-stop shopping, some have casinos and sportsbooks in their sites and they also accept a wide variety of cryptocurrencies, the more coins added with fast and cheap transactions are better, it will help us save from some fees and will help us to transact faster.

[DoublerHunter]

The site may ask to go through KYC if your funds are linked to dirty wallets that are involved in illegal activities. You can get such funds through a P2P exchanger and not even know about it. So even if you buy cryptocurrencies with legal funds you should always be ready that the casino can ask you to confirm your identity at any moment.

^ Probably not all the time and it depends on the amount that is involved, it will always be suspicious when someone deposits a large amount and that is the time a gambling casino will for sure ask further documents for the KYC, but if the amount is small that enough for you to gamble in one session, probably there is no a problem with that. I think it always matters on the amount, so I advise anyone to deposit only a small amount and there is no problem.
And don't think that the gambling casino is the way that you hide your identity by using coin mixers, you will face big trouble on that.

[acroman08]

-snip

yeah, it does have its advantages compared when gambling on a fiat online casino. just curious, would you mind sharing what you think are some of the pros and cons of a crypto casino?

There's no need to improve on our side but on the gambling operators, they have to compete very well in order to give us the best gambling experience.

OP is not saying that we need to improve. OP is saying what can we do(like giving suggestions) to improve crypto gambling casinos. hence the discussion of pros and cons.

[Joca97]

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

For me betting with crypto is much more easier and much more effective. Its easier to bet especially with litecoin that is really fast to deposit also betting on casinos that have instant deposits and cashouts is really good. Not much approval or wait time to get your funds.

[Slow death]

Are the only people I'm seeing doing well in life thanks to the fact that there are altcoins and people use altcoins to gamble? are the owners of casinos. yes the owners of casinos have a hundred reasons to celebrate because they can have many customers since several people can use the casino, of course other people who do not own the casino will benefit too

[Rengga Jati]

Recently I have started to gamble with crypto and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Some the people like gambling with crypto because:
- They can lay gambling as well online with crypto, moreover because gambling is prohibited in their country and we can play gambling online with crypto without worrying about the prohibition (like me  )
- We can find many crypto gambling platforms that accept from many countries around the world, well, some of them also need KYC and some are not. And this is the choice of every gambler to do that KYC or not, each has also pros andcons.
- We can choose more options of payment, we can deposit with more types of cryptocurrencies, not only Bitcoin. So we have more choices to consider, especially about the availability of the crypto and also the fee of transfers.
- We commonly will also find out every type of gambling, like in the online gambling with fiat, so, this is no problem.

cons:
- As I have told above, we may still face some options between doing gambling only platforms that need KYC, if no, we can skip that
- We may find some scam platforms, so be careful. Always research at first the platform that we want to play gambling, Here in this forum, there is a scam acusation board.
-

[LUCKMCFLY]

Pros and cons about using crypto currency has been discussed here many times and again, if you can't handle the risk of it better not to gamble at all.

With regards to gambling, either you use fiat money or cryptocurrency, you are still doing the same thing which is gambling if you don't have self-control then you will still fall and lose that money. Use fiat and crypto, whatever if more convenient for you.

Yes exactly, with that being said either fiat of crypto which one will you choose to use in gambling you're still doing the same thing and that is to take risk your capital for a hope of earning profit out of it or simply just giving yourself an entertainment. Self-control is definitely needed in this kind of game, without having it you will fall into trap of lose and failure. On top of this, crypto is much easier to use with rather than fiat but still have a self limitation when gambling.

This is what I call having responsibility, one cannot control everything that belongs to other people, much less control the money they have available to spend, I believe that each person should have a risk management plan, and nobody can get involved in it, with what right can it impose what and how to spend money, whether in fiat or cryptocurrency, when we are making a bet, what must be taken into account as a first option is to be willing to lose that amount of money and the biggest mistake The great thing about a person is to get carried away by positivism and only think about what they will gain, and that is where failure lies. I am not against positivism, in fact I am very positive, but in a bet, whether in crypto or in FIAT, you have to take the option that the money that is taken to the bet will be lost, and it is better that way so as not to falling into possible depression.

[worle1bm]

Crypto gambling has become more popular in few years and you could find out the list is long for some reputed and legit crypto casinos in the market making huge profits with it.There are people who prefer to have some physical and real time gambling with fiat in those casinos but now most of them prefer it to be online as it have same perks and wide variety of games and slots.

The other reasons include the anonymous and no KYC features that make these crypto casinos distinct from fiat ones and moreover you can play with 3-4 coins they accept with low level of fees also and no indentity is revealed for yourself.They their own range on benefits.

[btc78]

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

Well, If you're a fan of anonymity and you hate linking your credit card, debit card, or your PayPal account and other financial account, then I guess crypto casino and sports betting is good for you.
I can't think of anything that's more advantageous than this in Cryptocurrency compared to fiat betting.

You only need to be careful and read the company TOS to avoid your funds from getting compromised.

There are also lots of nuances that come into play that crypto can help get around - you mentioned credit cards, but this form of funding on gambling sites is often prohibited now, but you might be able to buy crypto using one instead.

I am not a fan of Credit cards , never that i rely my life on that usage .

One of the major disadvantages of these crypto casinos is that they are often cloaked in anonymity,

Don't worry because it is fewer now that crypto gambling site is focusing in anonymity as most of them are requiring KYC nowadays.

which can be a big problem if anything goes wrong and it is more likely to go wrong if the owners have less chance of facing criminal responsibility. You'd be surprised how easy it is to chain together these offshore companies, supposedly regulated, if you have enough cash to pay for the right services - you'd more likely to catch a ghost than uncover the real owners behind these layers of secrecy.

Can you give me even a single gambling case that progress? i mean a person that successfully bring site owner to jail? or atleast made them pay big amount?

[Lordshiva]

Crypto gambling has become more popular in few years and you could find out the list is long for some reputed and legit crypto casinos in the market making huge profits with it.There are people who prefer to have some physical and real time gambling with fiat in those casinos but now most of them prefer it to be online as it have same perks and wide variety of games and slots.

The other reasons include the anonymous and no KYC features that make these crypto casinos distinct from fiat ones and moreover you can play with 3-4 coins they accept with low level of fees also and no indentity is revealed for yourself.They their own range on benefits.

Yes the main reason I think is there is no KYC system when you are gambling in crypto and people want to do gambling anonymously. This is the reason for me to switch from fiat gambling to crypto gambling.
Also KYC process can get quiet frustrating some times and they dont let you withdraw until you do the KYC.
Hence I prefer gambling in crypto.

[Poker Player]

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

I am not very clear what you mean by "effective", but I can tell you that crypto sites usually offer better conditions, lower HE, for example. This is because they usually have licenses in tax havens, and some don't even have licenses, so the costs for regulations and taxes are lower. That way they can attract players with a higher return while making money at the same time.

All of this apart from the fact that many times they are skirting the legality, as mentioned, as they accept players from countries where a license from the country is needed to operate, etc.

[imstillthebest]

Crypto gambling has become more popular in few years and you could find out the list is long for some reputed and legit crypto casinos in the market making huge profits with it.There are people who prefer to have some physical and real time gambling with fiat in those casinos but now most of them prefer it to be online as it have same perks and wide variety of games and slots.

The other reasons include the anonymous and no KYC features that make these crypto casinos distinct from fiat ones and moreover you can play with 3-4 coins they accept with low level of fees also and no indentity is revealed for yourself.They their own range on benefits.

Yes the main reason I think is there is no KYC system when you are gambling in crypto and people want to do gambling anonymously. This is the reason for me to switch from fiat gambling to crypto gambling.
Also KYC process can get quiet frustrating some times and they dont let you withdraw until you do the KYC.
Hence I prefer gambling in crypto.

it will be fair for us gamblers if a casino put a notice if they require kyc or not and us gamblers we need to make it a habit to check the terms and conditions because  they sometimes include it there  .

[jrrsparkles]

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

Effective in terms of?

If Convenience is that you meant then yes, its more easier to gamble with crypto also you can gamble without KYC on most of the casinos but in terms of winning it doesn't depends on crypto, your luck decides it.

[YOSHIE]

Let’s use this thread to discuss pros/cons and how us users can improve it!

Betting using crypto compared to fiat, there is indeed a lot of difference, if you look at current technological developments with the rise of gambling sites that offer crypto to be able to place bets, If you go to a physical casino house of course fiat is always effective in placing bets, but if an online site that is definitely crypto is more professional, not a few local gambling sites are currently changing the fiat system to crypto, this is all a demand factor, keep up with the times.

There are many considerations of people gambling using crypto, overall, easy, cheap, safe and affordable.

[iv4n]

Recently I have started to gamble with crypto, and other coins.

With crypto and other coins?! That's funny!

Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat.

When it comes to lucky-based games it's probably more effective to gamble with crypto than with fiat... but more experienced players will probably say that fiat bookies offer more than crypto bookies, and fiat poker has more players and games. Of course, some of those fiat casinos accept BTC, but anyway they are still fiat oriented, and mostly your crypto deposits are converted to fiat!

Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

We had many "crypto gambling pros & cons" threads here... Bottom line is that you need to play in your favorite crypto casinos if you are a crypto gambling supporter and if you notice anything that can be improved you can write your feedback in casino ANN threads! It's how we can contribute as a community! And if you see that the casino is paying attention to our feedback you can be sure that the team behind a specific casino is working on development, so it's logical to think they can be only better and it's good to be there!

[Taskford]

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

Effective in terms of?

If Convenience is that you meant then yes, its more easier to gamble with crypto also you can gamble without KYC on most of the casinos but in terms of winning it doesn't depends on crypto, your luck decides it.

It's understable that many expect to earn while playing but in reality we might struggle if we always into profits. But we cannot also say its more easier to gamble online since maybe for now KYC has not been mandatory but for sure if there's regulation happened with reputable casino we will experience this so lets expect that this will happen knowing we might face this once the casino notice something strange on our accounts. Also in terms of winning all will matter on our luck since we cannot guarantee to win always by using crypto.

[sunsilk]

it will be fair for us gamblers if a casino put a notice if they require kyc or not and us gamblers we need to make it a habit to check the terms and conditions because  they sometimes include it there  .

In most cases, it's visible and already there before someone sign's up.

They're putting that already in their FAQ and terms and condition and that's fair to everyone. It's the responsibility of the user to check the terms the casino he's playing with. I don't think that will consume a lot of time just for the checking in.

The problem for some gamblers, they don't check it and when they're asked to proceed for the kyc, they complain but they haven't read the terms when suddenly being asked.