PROS AND CONS OF CRRYPTOGAMBLING.

[STT]

I always thought one of the advantages of crypto is its virtual status, at one time it was purely a token not currency you have to worry about or reallocate towards bills because most places still arent taking it directly.  So in crypto I can gamble this token and its purely for that divided from conventional job earnings and separate is safer.   It is best to move back and forth between crypto and cash too much I think as it only creates possible issues.   Generally there has been growth over the years so its best to stay in this economic system anyway.

[AmoreJaz]

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.

maybe, anonymity is getting compromised each day as casinos are implementing kyc to their players. however, there are still several reputable casinos here that don't strictly require kyc. but on the other hand, we can get good list of advantages of using an online casino. for me, you can access this anywhere you want, unlike physical casinos where you need to visit the site just to play. the list can go on and on but at the end of the day, every gambler has their own preferences. so it is up to them what is their priority at a given time period.

[Mahanton]

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.

Stick with reputable or known ones then you would be safe but always mindful about the risk because even though they are reputable doesnt mean that you could trust them 100%
which means that only deposit on the amount which you can afford to lose not on the sense on playing gambling but also that hacking incident or the site itself would become a scam.
Cant really be determined though if it would happen or not ahead but you arent that dumb for not to notice on something.

[DoublerHunter]

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.

maybe, anonymity is getting compromised each day as casinos are implementing kyc to their players. however, there are still several reputable casinos here that don't strictly require kyc. but on the other hand, we can get good list of advantages of using an online casino. for me, you can access this anywhere you want, unlike physical casinos where you need to visit the site just to play. the list can go on and on but at the end of the day, every gambler has their own preferences. so it is up to them what is their priority at a given time period.

^ That is the problem now with the crypto casino., it seems they are the same with the cash casino, the spirit of decentralizing nature of crypto has been faded because of the implementation of KYC procedures which is you are totally revealing your identity. But that is right, not all of them are required KYC, but the problem is those gambling casinos that don't require KYC are usually prone to hacking and don't have a licensed gambling casino. Nevertheless, it is our choice on which we are preferred.

[Maus0728]

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.

maybe, anonymity is getting compromised each day as casinos are implementing kyc to their players. however, there are still several reputable casinos here that don't strictly require kyc. but on the other hand, we can get good list of advantages of using an online casino. for me, you can access this anywhere you want, unlike physical casinos where you need to visit the site just to play. the list can go on and on but at the end of the day, every gambler has their own preferences. so it is up to them what is their priority at a given time period.

^ That is the problem now with the crypto casino., it seems they are the same with the cash casino, the spirit of decentralizing nature of crypto has been faded because of the implementation of KYC procedures which is you are totally revealing your identity. But that is right, not all of them are required KYC, but the problem is those gambling casinos that don't require KYC are usually prone to hacking and don't have a licensed gambling casino. Nevertheless, it is our choice on which we are preferred.

But it really isn't on a same page. Gambling and Crypto are like oil and water. Gambling often needs verification for a much stronger security and assurance that such user is of the legal age and would be following the Legal terms in gambling. Crypto, on the other hand, tends to be anonymous. Hence, the implementation of Crypto onto gambling and how anonymity is bypassed would still be an issue for decades ahead.

[ralle14]

but the problem is those gambling casinos that don't require KYC are usually prone to hacking and don't have a licensed gambling casino. Nevertheless, it is our choice on which we are preferred.

I disagree with this, just because a casino doesn't ask for KYC doesn't usually mean their security isn't the best. It might be a coincidence if it happened between one casino to another but these are two separate things though.

One of the cons that I could add to the list is the minimums (deposits and withdrawal) between casinos. Some casinos tend to change their minimums from time to time and set low minimums on their deposits but there are annoying casinos with minimum withdrawal amounts 3x-10x higher than the minimum deposit.

[ipanks]

snip

I guess crypto casinos can handle it. Well, maybe now they can't provide the anonymity that gamblers ask for. But at least they've tried to give it to gamblers. By not applying too stringent verification to gamblers, especially small gamblers who use a small fraction of their crypto to gamble. This has helped crypto gamblers to be able to experience gambling at crypto casinos and do not need to go through verification like in fiat casinos. Crypto casinos themselves will always pay attention to their members consisting of crypto gamblers not to ask for their identity in detail, except for those who use large amounts of crypto to bet.

[joeperry]

(...)

One of the cons that I could add to the list is the minimums (deposits and withdrawal) between casinos. Some casinos tend to change their minimums from time to time and set low minimums on their deposits but there are annoying casinos with minimum withdrawal amounts 3x-10x higher than the minimum deposit.

I am not familiar with this one. I'm lucky that all of the gambling sites that I currently playing at doesn't have that high withdrawal limits, I think it is one of their strategy so some players will keep wagering their money until they lose as playing more would have a high chance that you would lose.

[mirakal]

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.

Indeed, and actually there's really nothing to worry about that if you yourself are not doing something suspicious and we cannot blame them because these casinos are just following the regulations, it's not like that they want your details for nothing. That is also why it is important to only play to those reputable and trusted casinos so that your details would be entirely safe if they will ask some of it.

[wiss19]

I consider the volatility a con and a pro a con if the market crash and pro if the market pump at the time you are betting and winning so you decide for yourself by checking the status of the market and considering what coins to use and if you are comfortable playing that is if you are looking for profit both in the casino and in the market, but if you are playing to enjoy, the market condition has no effect on your betting.
And many will agree that the pro and con lies in your motivation to gamble if you are a responsible gambler there is no con and  to you, you take it positively.

It must be a good feeling when you gamble a dump coin and then you win but at the same time that coin pumps too because your profits are going to double or triple in an instant. I will only hesitate using the crypto for betting when it was pumping already because to me I feel that I can incur more losses if ever I don't win.

Most gambling sites right now can display the real time price of the cryptos (in fiat value) so there is no need for us to check the crypto outside the site we are playing. This can save us a lot of time. Being a responsible gambler doesn't mean that you are not playing for profit, so there is still con's to you, not only pro's.

[Naficopa]

I consider the volatility a con and a pro a con if the market crash and pro if the market pump at the time you are betting and winning so you decide for yourself by checking the status of the market and considering what coins to use and if you are comfortable playing that is if you are looking for profit both in the casino and in the market, but if you are playing to enjoy, the market condition has no effect on your betting.
And many will agree that the pro and con lies in your motivation to gamble if you are a responsible gambler there is no con and  to you, you take it positively.

It must be a good feeling when you gamble a dump coin and then you win but at the same time that coin pumps too because your profits are going to double or triple in an instant. I will only hesitate using the crypto for betting when it was pumping already because to me I feel that I can incur more losses if ever I don't win.

Most gambling sites right now can display the real time price of the cryptos (in fiat value) so there is no need for us to check the crypto outside the site we are playing. This can save us a lot of time. Being a responsible gambler doesn't mean that you are not playing for profit, so there is still con's to you, not only pro's.

Well no gambling is a source of permanent income. Its easy money and it goes easy.
I have seen people happy having a lot of money and in the next moment - the whole money is gone or hacked. My brother faces the loss and he was not much upset. But that is real and one should not ruin ones hard earned money in gambling.

[ultrloa]

I consider the volatility a con and a pro a con if the market crash and pro if the market pump at the time you are betting and winning so you decide for yourself by checking the status of the market and considering what coins to use and if you are comfortable playing that is if you are looking for profit both in the casino and in the market, but if you are playing to enjoy, the market condition has no effect on your betting.
And many will agree that the pro and con lies in your motivation to gamble if you are a responsible gambler there is no con and  to you, you take it positively.

It must be a good feeling when you gamble a dump coin and then you win but at the same time that coin pumps too because your profits are going to double or triple in an instant. I will only hesitate using the crypto for betting when it was pumping already because to me I feel that I can incur more losses if ever I don't win.

Most gambling sites right now can display the real time price of the cryptos (in fiat value) so there is no need for us to check the crypto outside the site we are playing. This can save us a lot of time. Being a responsible gambler doesn't mean that you are not playing for profit, so there is still con's to you, not only pro's.

Well no gambling is a source of permanent income. Its easy money and it goes easy.
I have seen people happy having a lot of money and in the next moment - the whole money is gone or hacked. My brother faces the loss and he was not much upset. But that is real and one should not ruin ones hard earned money in gambling.

Gambling earnings will not show up everyday since there are what we call bad days to each gambler,I see some several people earns huge amount of money from gambling but unfortunately some of them got busted back again when they keep playing while their luck faiding out. Your brother faces heavy losses because he maybe think that he can multiply his money quickly. And since you are near to him better you comfort him and make him understand the whole situation.

[TheGreatPython]

We know how so fun to play gambling this is the purpose of it to give an entertainment business with this kind of activity both a win-win situation they bring entertainment to their users at the same time they are earning some assets of course not all the time it's in favor of the gambling platforms because they have the Good RTP events, it depends now to the player of they will make this brings up if they are going to make a good shot to play and risk or just a casual game. Many people win this game instantly at a good profit and of course, there's is some of those people who loses a lot of they will keep playing just to earn back their loses.

This is what gamblers need to understand that the casino owners are mainly providing games (not money) to make someone entertained because I still see lots of complaints saying that they didn't win but only lose all their money. That's normal if they lose because they used it to pay for the services offered by the casinos. No doubt that casinos sometimes risk a huge amount of money for promotions and bonuses.

It's only up to their customers if they will withdraw this money or they will use it for playing. Casinos can still recover this if ever players get addicted and spend more, and not all those who play can win but casinos can always make a profit.

[Lucasgabd]

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.

maybe, anonymity is getting compromised each day as casinos are implementing kyc to their players. however, there are still several reputable casinos here that don't strictly require kyc. but on the other hand, we can get good list of advantages of using an online casino. for me, you can access this anywhere you want, unlike physical casinos where you need to visit the site just to play. the list can go on and on but at the end of the day, every gambler has their own preferences. so it is up to them what is their priority at a given time period.

I think we'll always have options with KYC and without it
with regulations becoming more strict worldwide we'll probably see websites that didn't have KYC before implement it
but this will just make others who want to be out of the radar start and get this part of the market that don't want to KYC.

[mindrust]

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 true for all kinds of gambling, whether it is crypto gambling or not it doesn't matter. If you see gambling as a job, then you are making a big mistake.

I also agree with most of your pro's but crypto gambling isn't really decentralized as you said. There used to be a casino called directbet.eu and it was almost the perfect decentralized casino and I've never seen anything better they left the business.

Crypto itself is decentralized yes but crypto casinos are centralized.

[tabas]

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.

Stick with reputable or known ones then you would be safe but always mindful about the risk because even though they are reputable doesnt mean that you could trust them 100%
which means that only deposit on the amount which you can afford to lose not on the sense on playing gambling but also that hacking incident or the site itself would become a scam.
Cant really be determined though if it would happen or not ahead but you arent that dumb for not to notice on something.

There's no problem if they are truly reputable. The thing about the risk with what you're saying is about the risk of losing anytime you gamble. It's always there and it is unsure that you're lucky at all times, well those things are already predetermined when you gamble.
There's nothing to worry about if that's the thing of the risk that you're telling and being hacked and scammed is up to the user.

[Finestream]

Crypto gambling is worth it or not will depend on you because crypto is a tool like money you use to gamble. While gambling can be bad for you if you don't have enough self-control. But gambling is a form of entertainment for people who want to play various games.

If you can treat gambling properly, whether it's crypto or fiat gambling, then you don't have to worry about the consequences and maybe you can also minimize the losses that will occur later.

  Regardless if its fiat or crypto, gambling will always be a source of loss if you always see it as a way to double your money, or to get rich quickly. But if you gamble just for fun and a little bit of gains, gambling may become even profitable. The pros and cons of gambling will always be there, the reason why gamblers should never expect winnings all the time as gambling could be even more risky especially if you cannot manage handling its risks.

[KTChampions]

Stick with reputable or known ones then you would be safe but always mindful about the risk because even though they are reputable doesnt mean that you could trust them 100%
which means that only deposit on the amount which you can afford to lose not on the sense on playing gambling but also that hacking incident or the site itself would become a scam.
Cant really be determined though if it would happen or not ahead but you arent that dumb for not to notice on something.

There's no problem if they are truly reputable. The thing about the risk with what you're saying is about the risk of losing anytime you gamble. It's always there and it is unsure that you're lucky at all times, well those things are already predetermined when you gamble.
There's nothing to worry about if that's the thing of the risk that you're telling and being hacked and scammed is up to the user.

There are always risks, no matter what the reputation is, so advice about the size of the deposit and other security is relevant. For example, I have not heard that the LUNA project has any reputation problems (at least more than other top projects), but nevertheless it was reset in just a couple of days. This does not apply to gambling (or vice versa applies lol) but as an example it fits well.

[lalabotax]

PROS AND CONS OF CRRYPTOGAMBLING.
I know that one of the greatest questions that crosses our mind is “is gambling worth it?” .

It is like the question for trading or investing, depending on who you are. If you are a professional gambler or gambler with certain skills and abilities, moreover with also high luck, gambling is worthy neough. But if you are only an addicted gamblers without good ability and skills, only laying on luck, well, this may be a way to spend your money and rash your life. We have seen the pros and cons of gambling so far in society. Many criminals emerged because the negative eimpact of gambling activities and addics, moroever in some countries that gambling is actually banned but they stillplay gambling everyday as daily activity, being addicted and having much loans.

[mirakal]

PROS AND CONS OF CRRYPTOGAMBLING.
I know that one of the greatest questions that crosses our mind is “is gambling worth it?” .

It is like the question for trading or investing, depending on who you are. If you are a professional gambler or gambler with certain skills and abilities, moreover with also high luck, gambling is worthy neough. But if you are only an addicted gamblers without good ability and skills, only laying on luck, well, this may be a way to spend your money and rash your life. We have seen the pros and cons of gambling so far in society. Many criminals emerged because the negative eimpact of gambling activities and addics, moroever in some countries that gambling is actually banned but they stillplay gambling everyday as daily activity, being addicted and having much loans.

We cannot literally blame them because that is their way to somehow enjoy life and that's what they are used to do, nevertheless if they knew that they are not that lucky with that kind of activities but still they chose to do because every gambler have their own certain reason why they kept on doing such activity even if it doesn't help them that much.