Gambling In Crypto

[The_Crypto_Gambler]

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!

[Mbitr]

Hi mate there’s a whole section on gambling on the forum - have a good look around there .
There are plenty of folks ready to participate in a discussion there

https://bitcointalk.org/index.php?board=56.0

[Upgrade00]

This discussion would be more appropriate in the Gambling section as it focuses on how gambling is affected by crypto. You can move it with the move topic option at the bottom left of this page.

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

I am not a frequent gambler, but I have gambled with fiat and also with Bitcoin, and I find bitcoin to be far more efficient. I am also privacy focused, so a platform that allows one to gamble anonymously without the hassles of banks is a plus.

The con I believe exists is the high withdrawal fee imposed by some platforms to cover for changes in transaction fees on the bitcoin network.

[glendall]

hi friend, wrong subforum if you want to talk about gambling.
I personally never want to try gambling in any form because gambling can have a bad effect on life if it is addicted, use the money as efficiently as possible

[Mahanton]

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!

Gambling with crypto;

1. No KYC
2. Lots of crypto payment options

Gambling with fiat

1. KYC
2. Heavily regulated

When it comes to experience and games offered, it might be just the same in most cases and it would really
vary whether you do mind off much about KYC or not.

[romero121]

Gambling industry is one among the biggest industry that is turning towards cryptocurrency. Gamblers give a try and stick to it. Here users find the ease of making bets than the fiat. Fast settlements on the wins. There are sites that can be used without KYC. Likewise more and more features make people look for an alternate from the regular online gambling with fiat.

[Yogee]

Online gambling is prohibited in many countries so it's easier for bettors to use crypto as a workaround hehe. Problems could still arise from converting crypto to fiat since some exchanges doesn't accept deposits from gambling platforms.

...

The con I believe exists is the high withdrawal fee imposed by some platforms to cover for changes in transaction fees on the bitcoin network.

Yes but good thing many of them now support other cryptos that has lower transaction fees.

[tippytoes]

Online gambling is prohibited in many countries so it's easier for bettors to use crypto as a workaround hehe. Problems could still arise from converting crypto to fiat since some exchanges doesn't accept deposits from gambling platforms.

...

The con I believe exists is the high withdrawal fee imposed by some platforms to cover for changes in transaction fees on the bitcoin network.

Yes but good thing many of them now support other cryptos that has lower transaction fees.

@OP, better move this thread to gambling discussion board = https://bitcointalk.org/index.php?board=228.0

For sure, a lot of gamblers in the forum will pitch in their ideas or insights towards gambling. Also, in the gambling board itself, you will find reputable casinos to play with without submitting KYC requirements. Just look at their trust summary and browse their respective threads. There are so many casinos existing already so whatever you are looking for, for sure you can find it in one of them.

[mk4]

What specific question do you have? Asking to talk in private is just asking to get scammed.

But yea, gambling using crypto sure is far easier. Based on what I've read throughout the years, you're far likely to have problems when gambling using money from your bank account and such. You're very unlikely to have problems with crypto gambling as long as you use a reputable platform, and that you aren't sending funds straight from exchange wallets like Coinbase.

[AicecreaME]

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!

Gambling in crypto is much more challenging and entertaining (in my perspective at least), compared to fiat gambling because you can use different coins depending on what you want and what the casinos permit to use in gambling. You can directly exchange your fiat money into coin into the desired coin of your liking and what the site allows right from their website itself. You won't have to go through the hassle of undergoing different exchangers just to exchange your money. You can also have different casinos to try onto. When it comes to choices, there are a lot in crypto gambling. Most casinos offer nice promotions and have a good quality of service. Just remember to, of course, do your very own research to avoid regrets later on because there are still many reported incidents of bad customer resolution on some casino websites. Be sure to only enter a reputable and trusted website so that you could benefit and make the most out of your funds. 

[avikz]

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 have just reported to the moderator to move this thread to the gambling discussion as a general user doesn't have the authority to do so. So it will be done in due course of time.

There are many advantages in crypto gambling.
1. Usually KYC details aren't needed
2  doesn't affect your tax burden in case of big wins
3. Available for the global audience. Your location doesn't matter
4. Effectively bypasses the country specific gambling restrictions

That's why gambling market is one of the major businesses where cryptocurrency is actively used nowadays.

[Wexnident]

Most obvious advantages of crypto gambling are the advantage of using crypto itself. Transparent transactions, the ability for almost anyone to be able to play, no KYC restrictions (most of the time, some casinos are limited by their license to require KYC afaik), and not many problems or issues when trying to move your money to the casino itself. It's really more on qol stuff, ones that actually make it a LOT easier for one to gamble, whether you're from a certain country. Nothing differs much based on gameplay stuff afaik, so don't expect anything from there.

[rodskee]

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!

What are you trying to establish here?  because it sounds stupid that you are asking here about people who experience gambling in crypto when obviously this is a crypto forum and there are tons of cryptocurrency gambling site that has been promoted here.
meaning all of us has the option to gamble , maybe not everytime but at least once in our entire crypto career?
and also this thread belongs to Gambling section and not in Bitcoin discussion section ,

[michellee]

Playing gambling using crypto will give you anonymity and prevent you from sending your private documents to the sites. Besides that, you do not have to make your banks suspicious of your activity deposit and withdraw the money from the site because you use different wallets to store the money. You will find so many crypto gambling games on many casinos from this forum that are reliable and recommended by other members so you can avoid scamming that you may get.

[Jawhead999]

I see so many users keep mentioning crypto casino is anonymous and don't need KYC, while the fact almost crypto casino is centralized and will ask KYC if there's a problem (some casino even ask KYC while sign up).

3. Available for the global audience. Your location doesn't matter
4. Effectively bypasses the country specific gambling restrictions

A casino had licenses and third party provider usually not serve all countries due to regulations and if you from banned countries you're not allowed to play using VPNs since it's breaking the casino rules. It also a problem if you're gambling when your countries aren't allowed you to gamble.

[The_Crypto_Gambler]

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!

Gambling in crypto is much more challenging and entertaining (in my perspective at least), compared to fiat gambling because you can use different coins depending on what you want and what the casinos permit to use in gambling. You can directly exchange your fiat money into coin into the desired coin of your liking and what the site allows right from their website itself. You won't have to go through the hassle of undergoing different exchangers just to exchange your money. You can also have different casinos to try onto. When it comes to choices, there are a lot in crypto gambling. Most casinos offer nice promotions and have a good quality of service. Just remember to, of course, do your very own research to avoid regrets later on because there are still many reported incidents of bad customer resolution on some casino websites. Be sure to only enter a reputable and trusted website so that you could benefit and make the most out of your funds. 

I disagree with the idea its more challenging. I think the deposit and withdrawal process is seamless compared to fiat websites and not including a bank in this takes away most of the hassle. Where we do agree is on the research aspect. You need to be smart and cautious about the websites you use. Some sites will lock you out and prevent you from wagering while still holding an active account.

What sites have people been using most frequently?

Thanks!

[The_Crypto_Gambler]

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 have just reported to the moderator to move this thread to the gambling discussion as a general user doesn't have the authority to do so. So it will be done in due course of time.

There are many advantages in crypto gambling.
1. Usually KYC details aren't needed
2  doesn't affect your tax burden in case of big wins
3. Available for the global audience. Your location doesn't matter
4. Effectively bypasses the country specific gambling restrictions

That's why gambling market is one of the major businesses where cryptocurrency is actively used nowadays.

Definitely agree with these points. What websites have you been using?

[dataispower]

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!

This is gambling thread, i would recommend you to move the thread to gambling section were attention will being given, all cryptocurrency trader always share their experience in casino platform threads and other gambling supporting teams, i know that anything cryptocurrency gambling and both trading always find difficult to cooperate with.

[panjul07]

Gambling with crypto;
1. No KYC

Gambling with fiat
1. KYC

Not anymore, in the last few years especially since the last year we have seen that most crypto casinos started to have KYC in their terms.
Some casinos make it mandatory and some other make it conditionally.
It means that KYC is now something usual in crypto gambling industry, of course there are still some crypto casinos without KYC.

[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!

What do you mean by finding it much more effective than fiat? They both achieve the same end result and odds are pretty much identical between the sportbooks whichever you're using. Unless you already have spare crypto then it's a bit of an inconvenience and probably more expensive to use crypto after the transfer fees are taken into account. Not to mention any charges that an exchange might cost you to buy crypto in the first place - for new users to this it doesn't make much sense if they want to maximize earnings. It's always nice making use of the free bet offers that different crypto sites have going, but besides that I don't see any positives.