PROS AND CONS OF CRRYPTOGAMBLING.

[Fortify]

PROS AND CONS OF CRRYPTOGAMBLING.
I know that one of the greatest questions that crosses our mind is “is gambling worth it?” .
Yes, I know that many times it seems almost impossible to win though at the same time it’s the easiest way of doubling up your money.
Let’s talk about the pros:
It is decentralized:
 (without having one inside zone of command). No one can take your Bitcoins yonder from you or freeze your 'crypto account' due to the sheer of a inside legal/law-based validity in the system. You own your money and your transactions are safe.
It is secure:
 Your payment information cannot be stolen yonder from you. Bitcoin transactions do not require any personal data to be submitted, protecting you from identity theft. And there can be no chargebacks - once sent, Bitcoins transactions are unchangeable. This ways the transaction cannot be reversed or reverted from the way it was recorded in Bitcoin's public ledger, which makes for fewer risks for people who sells.
It is private:
Since no personal information is tying to your Bitcoin wallet, people do not know who (bought something for money) what. At the same time it is clear/open and honest, meaning that anyone can find information on addresses and their balances in a public ledger.
It is fast: It does not matter where you move (from one place to another) your coins to: be it an international move (from one place to another) or a local pizza (instance of ownership something for money). With Bitcoin any. With CoinsPaid's crypto-processing abilities, crypto casino deposits the move (from one place to another) is tropical to immediate.
Bitcoin has (had) low transaction fees: Since there are no (people or businesses who buy goods to sell to stores, not you) in a decentralized network, no one will tuition you for anything. More so , the way the technology is set up there might be fees for faster processing of transactions or (changing from one form, state, or state of mind to another) of bitcoins into fiat currency. Although, most wallets will requite you the option to (adjust/change to fit new conditions) your legation in favour of a quick crypto move (from one place to another) or a low commission.
It is not subject to inflation:
The number of Bitcoins to overly be issued is limited to about  21 million and Bitcoin volume growth is (expected), so they cannot be out like fiat types of money and poured into the (process of people making, selling, and ownership things) at random.
It is not unchangingly taxed:  The tax regulation for digital valuable things has come a long way as Bitcoin and altcoins have been recognized by some states as property, store of value, or plane currency. If you are planning to gamble in Bitcoin, make sure you know what your local tax law says on your winnings or from betting with crypto. But for most countries Bitcoin remains mostly uncontrolled.
In summary, from a player's point of view, Bitcoin is the perfect 'gaming coin'. Players love Bitcoin considering it offers unnamed upper speed transactions for deposits and withdrawals, which do not go through a decentralized financial system. In, most Bitcoin games are 'Provably Fair'.

Let’s talk about the cons:
Ofcourse, there is a fly in any honey pot. Playing at an online crypto casino has some disadvantages that are worth thinking about, too.
Firstly, crypto-gambling is never a stable source of profit because anything can happen(loss) .

That's quite a long list of "pros" with only one con that is applicable to all gambling - not just crypto. There are other cons that I can think of: additional fees along with longer transaction processing time when it comes to the Blockchain and wanting to cash out into a fiat currency for daily use. Many of these gambling companies are based offshore, with token regulation licenses, so are much more vulnerable to disappearing without any enforcement. Basing everything around anonymity is not necessarily a bonus for people placing bets because transparency breeds honesty.

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[judeafante]

The pseudo-anonymity of Crypto currencies are being destroyed by Crypto casinos with KYC requirements ....so it is only one of the PROS, if the casino does not require KYC details. 

It's something that protects the casinos from bad actors and from the demand of regulations, even trusted and reputable casinos that uphold anonymity will ask KYC if circumstances demanded it, we should only play on casinos where KYC is being asked because of cheating and on account with suspicious activity if we are not doing anything wrong we are safe from this KYC.   

[Coin_trader]

The pseudo-anonymity of Crypto currencies are being destroyed by Crypto casinos with KYC requirements ....so it is only one of the PROS, if the casino does not require KYC details. 

It's something that protects the casinos from bad actors and from the demand of regulations, even trusted and reputable casinos that uphold anonymity will ask KYC if circumstances demanded it, we should only play on casinos where KYC is being asked because of cheating and on account with suspicious activity if we are not doing anything wrong we are safe from this KYC.   

This is real talk, Many players especially newbie are too scared on KYC even though it's not mandatory requirements of casino. As you said, I believe too that it's just for regulatory compliant in case something shady is happening on a user account. This is the new norm now especially crypto market is already huge unlike before that government just ignore crypto market. There's already billion dollars flowing on this industry so it's normal that government will regulate it whether we like or not just to get tax to this crypto casino industry.

[tabas]

That's one thing but when the casino is already reputable, I don't think that everyone is going to have any problems having no physical office.
But it's a fact that it's becoming a requirement for some big gamblers because they're just want to make sure upon foreseeing some possible incidents that won't favor them to happen in the future.

If a person is a big gambler I can understand in a way that they may like the casino to have a physical address in the case something goes wrong and have a way to take legal action against a casino that goes rogue, but for the people that are gambling with a limited amount of money this is not going to make too much of a difference, as if they lost some money due to being scammed they will have no way to recover it, whether the casino had a physical address or not.

That's right and that's the reason why they should gamble with a trusted one. Too many casinos out there to pick and just choose the best one you think that's reputable.
It's easier to know these days what are those reputable ones and what are those that are not. With a few searches and as well as paying a visit to their threads if ever they've got, you'll see the reviews about them.

[traderethereum]

The only fact that I keep in mind to reduce my gambling habit or addiction is that even if I win now, the total loss that I made is much greater that what I win today and whenever I think about that thing it makes me stop gambling keeping in my mind that I will be losing again and if I am looking for entertainment, there's always available gambling sites that has free demo coins.

Reducing the habit or addiction to gambling is very necessary before it is too late and we also still have time to realize it.
But unfortunately, not many can do it even though it will be very useful for them, especially for people who have been playing gambling for a long time.
No one knows when we will become addicted to gambling and instead of stopping gambling, we will continue to play and spend more money.
We will experience losses compared to wins and that is why we must be able to stop and manage when we play gambling.

[molsewid]

That's right and that's the reason why they should gamble with a trusted one. Too many casinos out there to pick and just choose the best one you think that's reputable.
It's easier to know these days what are those reputable ones and what are those that are not. With a few searches and as well as paying a visit to their threads if ever they've got, you'll see the reviews about them.

That is why it is very hard to play in new casinos, I only play to that website that most of us are playing. I am using this forum to choose what casino should I play because many of you already have your own feedback on a certain casino. KYC is not a problem if they are legitimate and already prove to us that they will not use our identity in any malicious things. KYC can be good to us as well, it can help us when things go wrong with our account. Reviews and suggestions can be use for us to choose the right one.

[swogerino]

That's right and that's the reason why they should gamble with a trusted one. Too many casinos out there to pick and just choose the best one you think that's reputable.
It's easier to know these days what are those reputable ones and what are those that are not. With a few searches and as well as paying a visit to their threads if ever they've got, you'll see the reviews about them.

That is why it is very hard to play in new casinos, I only play to that website that most of us are playing. I am using this forum to choose what casino should I play because many of you already have your own feedback on a certain casino. KYC is not a problem if they are legitimate and already prove to us that they will not use our identity in any malicious things. KYC can be good to us as well, it can help us when things go wrong with our account. Reviews and suggestions can be use for us to choose the right one.

This is also the only downside or con to crypto gambling as you don't know with whom you are dealing to and the risk of getting scammed is higher here because in most crypto casinos you play without verification or KYC in place until you reach a certain amount of money which you cannot withdraw if you do not verify yourself.

That is why is extremely important to read the Gambling section of the forum,there in the ANN thread of each casino you can draw you own conclusions however the best ones have a thread which consists of a really large number of pages while the unknown ones or new ones only few pages.Anyone should check  the feedback on these ANN threads and see if there are always problems which indicates not a good site or you see there rare occurrence of such happenings and people are happy,this means it is a trusted and reputable casino,in which you can play without fears.

[Smartvirus]

There is a safety that comes with sticking to what your familiar with and what is more popular with people especially in the cryptocurrency field where everyone remains anonymous and even the Casinos. One wrong move and your sure your money isn't coming back andbthe worst case about it is that, there isn't anything you could do about it. That's a down side to the crypto gambling industry, they could scam you, you can't do nothing about it and still, they would remain in business. Sometimes, they play the KYC trick, same as some exchanges do and your most likely not willing to go with it but, is forced to because of your funds. Worst case scenario, it never gets verified and you never get approved to withdraw or use your account.

[Cling18]

Any form of gambling has risks but on the other side, it also gives the players a chance to make a profit though there's still no assurance. Gambling will still be worth it if we'll know how to handle it right. If we know when to stop and when to continue, then we're handling the risks of it the right way. Compared to physical casinos, crypto gambling provides us anonymity and it's also a good thing that we could gamble whenever we want.

[TheGreatPython]

Let’s talk about the cons:
Ofcourse, there is a fly in any honey pot. Playing at an online crypto casino has some disadvantages that are worth thinking about, too.
Firstly, crypto-gambling is never a stable source of profit because anything can happen(loss) .

Not crypto gambling but gambling in general. Crypto plus gambling when combined becomes very risky because gambling is already unstable but cryptos are more volatile. When you lose, you don't just lose, but you can be able to lose more. Other disadvantage is that crypto is hard to use for someone that is starting, he can lose his coins in the process of transferring it. Delays are also there if the network is heavily congested.

It is decentralized

There are decentralized types of crypto gambling but they are rarely being used now. It was like the more cryptos become well known, the more centralized entities are becoming successful. The same thing happens with crypto exchanges. Before, when cryptos are starting, we only have decentralized exchange but like crypto gambling, cex starts to dominate them.

[BitSwapNow]

The house ALWAYS wins in the long run. This is how it is designed, Can a gambler win sure but in the long run you will lose. Not many successful gamblers out there in the real world let alone a crypto gambler. Gambling is not worth it in my opinion.

[lixer]

It's not much different from traditional gambling.

You get some pros like better odds (usually lower house edge because of the fact that there is so much competition), better VIP service, greater limits on your bets, and generally a more pleasant and convenient betting experience.

But the trustworthiness of the sites you play on is a huge factor. You don't have to worry as much physically when you win lots whether they will pay you out.

The only thing that you will worry when you win in an offline casino is how can you get out safely with that huge money you are holding because someone on the casino might be watching at you and have plans to hold up you or something from outside will do the same thing. This is why I still prefer playing online as it much safer but of course if you only play on a trusted/verified gambling site.

I think there is a big difference in terms of games. I believe that there are so many games on an online gambling site than those that we usually see in offline gambling places.  We are also using a crypto not fiat although there are now crypto sites that have dual currencies support.

[qwertyup23]

Pros: You can earn Money
Cons: It’s not guaranteed

Pros: You may be able to earn money
Cons: You will most likely lose money

When I first learned that there was a crypto casino I was a little hesitant. For me, crypto is something that is highly valued, and something that many can't get. Because of this, I was a little skeptical about whether or not I would enjoy the experience of gambling with it. I was afraid that because of this value attached, I would not enjoy my gambling experience.
I guess it's just the difference between putting your money into something that has no value to you and buying something that has real value.

Like what I always tell someone whenever they gamble using cryptocurrency, I always tell them to avoid using BTC due to the latter's potential of its price increasing in the future. If it is possible, try to gamble using a different cryptocurrency instead and save your BTCs for investments.

Just like normal gambling, the chances of you winning are not guaranteed and absolute. There is always that element of risk whenever you gamble- that is why do not expect that you will win every single games that you play.

[MonsterV]

I think that gambling, whether traditional, modern, and using different commodity, it is still the same pros and cons. Yes, it can give fun, new experience, and above all profits. But, it can lead to losing assets and could inflict addiction to those who won’t be able to handle the desire and influence of gambling to their system.

[Fivestar4everMVP]

Awesome write up, though I found it difficult to understand some part, but still does not dispute the fact you passed a message @op.
Gambling has helped me earn a few buck in the past, even though it's not something I do consistently or constantly.
I think one of the cons is the fact that gambling is highly addictive, and online gambling with payment in bitcoin has opened the doors to under age gamblers, children or rather, teenagers who should really pay more attention to their studies easily turn to gambling as a means of earning some extra pocket money, and they easily get addicted this sometimes destroys their academic goals if they are not rescued on time.

[Odusko]

Cryptocurrency gambling has its advantages and disadvantages and the most obvious among the pros of online gambling is privacy just like I said earlier most online gamblers do it because of the privacy and how faster their processing of the transaction, but it set back is in addressing issues because since there don't have physical office locating them is hard in time of scam.

[madnessteat]

Awesome write up, though I found it difficult to understand some part, but still does not dispute the fact you passed a message @op.
Gambling has helped me earn a few buck in the past, even though it's not something I do consistently or constantly.
I think one of the cons is the fact that gambling is highly addictive, and online gambling with payment in bitcoin has opened the doors to under age gamblers, children or rather, teenagers who should really pay more attention to their studies easily turn to gambling as a means of earning some extra pocket money, and they easily get addicted this sometimes destroys their academic goals if they are not rescued on time.

I absolutely agree with you. This can be attributed to one of the disadvantages of online gambling, but if you look at it on the other hand online casinos allow people to play gambling that are not able to visit land-based casinos, for example disabled people who have great difficulty in moving around in a wheelchair. Parents can prevent teenagers from gambling, but it is unlikely that anyone will want to contribute to the organization of leisure activities for the disabled. 

[KTChampions]

I think you left out one of the PROS for Crypto gambling ==> Micro transactions

International money transfers can be very expensive, even if you use your credit card.... so doing a transfer of say $10 to a gambling site, will not be worth it, because you might pay more than that in fees. Now if you use some Crypto currencies, like Litecoin or TRX ...small or micro transactions will be cheaper and more feasible to do...and you can transfer very small amounts to these casinos. 

The pseudo-anonymity of Crypto currencies are being destroyed by Crypto casinos with KYC requirements ....so it is only one of the PROS, if the casino does not require KYC details. 

I should note that even if the casino does not require KYC, this does not guarantee the absence of problems - in any case, they use transaction tracking tools (so as not to receive "dirty" money on their balance). In fact, this is even worse than KYC because you can forge documents for example, but you will never forge the blockchain.

[wildan88]

One of the biggest advantages is that you can of course gamble relatively anonymously. However, that is becoming less, more and more sites are asking for a KYC, whether mandatory or not. Another big advantage is that the payments are processed fairly quickly after 1 or 2 confirmations on the network and that you normally do not have to deal with limits when you want to deposit money into your account.

[tabas]

That's right and that's the reason why they should gamble with a trusted one. Too many casinos out there to pick and just choose the best one you think that's reputable.
It's easier to know these days what are those reputable ones and what are those that are not. With a few searches and as well as paying a visit to their threads if ever they've got, you'll see the reviews about them.

That is why it is very hard to play in new casinos, I only play to that website that most of us are playing. I am using this forum to choose what casino should I play because many of you already have your own feedback on a certain casino. KYC is not a problem if they are legitimate and already prove to us that they will not use our identity in any malicious things. KYC can be good to us as well, it can help us when things go wrong with our account. Reviews and suggestions can be use for us to choose the right one.

Hard in a way that they are hard to be trusted. Because there's no reputation yet and we want to make sure that we're gambling to the correct one.
But to avoid that confusion and worry, it's better to gamble into the casino that had a name already and reputation built so that you'll just have fun and focus if you're into trying to multiple your money in there.