Crypto Bet: A wider Array of Altcoins are being usef

[AicecreaME]

Crypto betting offers the most comfortable way of betting for a lot of people.Some persons are gamblers but they also have a family and do not want their wife to find out in their credit card statement that they are gambling.The credit card statement can be seen by family members while by playing with crypto is very difficult to see,in this way this is the most comfortable form of gambling and therefore it is only natural that this will only increase with the passing of time as more and more people join in.

Agree with this. Crypto betting has been widely used by gamblers due to the reasons you've mentioned such as to avoid card history of gambling betting and of course, to hide the transactions about it from their relatives most especially to their family, wife, or girlfriend/boyfriend. Although I'm not quite certain regarding the usage of altcoins in gambling website and casinos. Because as far as i know, the most popular and widely used in casinos is bitcoin.

I seldom hear that a website is accepting altcoins in betting. But I know there are a few already accepting it. Not just being wide used though. Perhaps OP you could put where you got the information so that we could also verify.

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[kaya11]

It has been reported that the online gambling industry has shown more people are starting to use crypto to gamble online forgoing Fiat. And that there is a greater interest in betting with Altcoins.
  Over the past two years,gamblers using crypto online instead of Fiat has significantly increased.The study comes from softswiss,which provides software for managing iGaming operations.The organization holds several gaming license and was the first company in the world to offer a Bitcoin optimized casino solution.
Softswiss said the share of crypto in Q1 2022, increased by almost 10%: from 26.3% to 35.9%. In comparison to the first quarter in 2020,the share of crypto currencies has grown by 29%. If such dynamic continue,the share of Fiat and crypto currencies may become equal over the course of the next year,as Fiat currently is the most popular choice for online betting,64% of people use Fiat.
https://beincrypto.com/crypto-bets-a-wider-array-of-altcoins-are-being-used/

There are lots of features that crypto gambling offers, that is why the players moves in. They can see how easy it is to manage, being anonymous, less transaction fees and so many perks. Since crypto currencies is gaining worldwide acceptance, they are felt secured that it is safe to play in some trustworthy crypto gamble sites. While traditional mode of payments are still an option for withdrawals, it is slowly changing, and crypto currencies are replacing them. These are just some examples why players or gamblers are slowly switching, thus crypto currencies dominating the world of gambling.

[Cling18]

I think gamblers switch from using fiat to crypto because it is easy to use crypto and can be used for gambling too. In addition, people who start using crypto also see crypto as a way of investing because of the many options they can use as their investment. As an option to gamble, they are facilitated with lots of coins to gamble on and with the low cost of sending and withdrawing transactions that are cheaper than fiat.

The pandemic is another factor that highlights the advantage of crypto via fiat since it has lot of limitation and restrictions when it comes to online gambling. I don't know if we can already say that crypto casino is already gaining more players than fiat without any legit statistics to support but one thing is for sure that crypto casino increase there volume and valuation when pandemic hits so maybe online fiat casino is now starting to slowly adopt crypto.

Pandemic is one of the factors why most gamblers have switched to using fiat to crypto because of the convenience that it provides especially during the times that physical casinos have closed. Gamblers are now comfortable using crypto when it comes to gambling because it could also provide profit as they invest in it. People always seek convenience and comfortability and that's what cryptocurrency could provide in gambling.

[zidanw]

Pandemic is one of the factors why most gamblers have switched to using fiat to crypto because of the convenience that it provides especially during the times that physical casinos have closed. Gamblers are now comfortable using crypto when it comes to gambling because it could also provide profit as they invest in it. People always seek convenience and comfortability and that's what cryptocurrency could provide in gambling.

In addition to that, crypto has opened a way and provided the chance and availability of gambling when it comes to countries that have been prohibiting gambling activities among its citizens a and borders. Crypto has also change the game when it comes to the different offerings of games and gimmicks done in gambling.

[gantez]

Cryptocurrency has opened the gambling platforms more to the people. It appearing like every gambling site will set up the cryptocurrency option for players convenient, if you don't do that you are not consider as the top crypto platforms. But bitcoin still remains the first choice of coins use in the game.

[wxa7115]

I am actually surprised that the market share of cryptocurrency casino is over 35%. I thought those numbers were far lower. I think in the future some of the best fiat casinos and sportsbooks will adopt crypto in order to not lose their customers to other platforms. I am talking about giants giants like bwin, bet365, William Hill, etc. It's obvious that people are getting more and more hooked gambling with crypto and the reasons don't matter.

Even if the data was legitimate I think that what it means is that within the gambling solutions offered by that company they are seeing a share of 35% bitcoin and 65% fiat.

However there are many other providers and casinos which have implemented their own solutions which probably do not offer cryptocurrencies at all, which means that the amount of money being gambled with bitcoin is way lower than the percentage that we are being given in this tread.

[Jody.Drummer]

It's no wonder why crypto gambling has become a favorite in recent years. Apart from maintaining their anonymity, they will definitely make crypto the most effective gambling option. As for fiat, you will have interest expense when you withdraw it to your account. Fiat gambling is mostly available at local casinos in every country. Meanwhile, if we use crypto as an alternative to gambling, of course we can be wider in accessing cross-country gambling. That is why crypto is experiencing good growth as a gambler's choice.

[Sterbens]

It has been reported that the online gambling industry has shown more people are starting to use crypto to gamble online forgoing Fiat. And that there is a greater interest in betting with Altcoins.
  Over the past two years,gamblers using crypto online instead of Fiat has significantly increased.The study comes from softswiss,which provides software for managing iGaming operations.The organization holds several gaming license and was the first company in the world to offer a Bitcoin optimized casino solution.
Softswiss said the share of crypto in Q1 2022, increased by almost 10%: from 26.3% to 35.9%. In comparison to the first quarter in 2020,the share of crypto currencies has grown by 29%. If such dynamic continue,the share of Fiat and crypto currencies may become equal over the course of the next year,as Fiat currently is the most popular choice for online betting,64% of people use Fiat.
https://beincrypto.com/crypto-bets-a-wider-array-of-altcoins-are-being-used/

People tend to embrace new things and using crypto to gamble online is a trend right now and people are noticing how convenient it was too. If I were to pick which one is best, I think online betting or gambling is best when playing online especially if you're just into luck based gambling. The pandemic help this industry to even expand.

Let's review gambling since the pandemic. Both fiat and crypto casinos have become the choice of gamblers in betting their money. Although actually gambling is a risky thing to lose in an instant. Regardless of the fact that crypto is the solution to reach gambling wherever it is. Fiat has certain limitations that are only used by people who are not very fond of crypto. While crypto gamblers can use both as an option.
It is this advantage that makes crypto casinos more dominant when it comes to betting. Plus crypto casinos are popping up that offer massive welcome bonuses, promo, and others that I don't think fiat casinos offer too much.

[magneto]

Not surprising.

I think the primary driver of these statistics is the fact that mainstream influencers are now adopting crypto based casinos and telling others to use it.

There are some concerns with this, though, especially with the surge of "fake money" players who seem to be whales but are in reality just sponsored by the casinos themselves. But overall this is a great trend.

[AmoreJaz]

It's no wonder why crypto gambling has become a favorite in recent years. Apart from maintaining their anonymity, they will definitely make crypto the most effective gambling option. As for fiat, you will have interest expense when you withdraw it to your account. Fiat gambling is mostly available at local casinos in every country. Meanwhile, if we use crypto as an alternative to gambling, of course we can be wider in accessing cross-country gambling. That is why crypto is experiencing good growth as a gambler's choice.

and with the long list of alts available in those online casinos, gamblers have the option to use alts with cheaper fees. and this is also why these casinos can accept small time gamblers. and they can play at the comfort of your home without worrying about anyone looking over your shoulder. i believe during the pandemic period, a lot discovered the world of crypto gambling as they got stuck in their homes and looking for ways how to remove that boredom particularly those gamblers at offline casinos.

[DoublerHunter]

It's no wonder why crypto gambling has become a favorite in recent years. Apart from maintaining their anonymity, they will definitely make crypto the most effective gambling option. As for fiat, you will have interest expense when you withdraw it to your account. Fiat gambling is mostly available at local casinos in every country. Meanwhile, if we use crypto as an alternative to gambling, of course we can be wider in accessing cross-country gambling. That is why crypto is experiencing good growth as a gambler's choice.

^ Probably that is right, many gamblers now prefer to use crypto over fiat because they know that they can play without exposing privacy which is a good option to start. The good thing is, that not only does the BTC network has good potential in all coins that can be used in gambling but there is also some blockchain network that can be used in gambling. I did not surprise that the time will come there are more and more casinos that accept crypto, from fiat to crypto because they know that there are many gamblers who prefer to use crypto over fiat.

[dothebeats]

Lots of coins but only a handful are being accepted by most casinos. Gamblers are limited by their platforms most of the time, though from the profitability perspective, I do understand where they're coming from. But it will also be good if platforms start recognizing other coins and accept them already if the demand and interest is there. But then again, it's not that entirely easy to do so for the platform. Good thing though that most of the coins most platforms choose are those with low fees and fast confirmation times: things that really matter for the gambler that they surely appreciate.

[Darker45]

If I'm not mistaken, one of the earliest use-case of Bitcoin was as a gambling bet. Satoshidice was already in operation in 2012. So it is not surprising that over the years, the growth of crypto gambling is already recognizable.

And it has proven to be very profitable as well. Proof of this is the huge sponsorships of crypto gambling platforms in international sports teams and leagues.

Perhaps one of the main reasons why a lot of gamblers are choosing crypto over fiat is the certain amount of anonymity in it. You are not obliged to submit personal and financial information if you want to play in a crypto gambling site.

[Poker Player]

Although some of you have questioned it, what the OP says does not surprise me. Cryptocurrency gambling has grown just as the shitcoins market has grown. Recently we are seeing a recovery of Bitcoin dominance as happens in crises, but last year, although with peaks, the trend was to lose dominance versus shitcoins. Bitcoin is one but shitcoins do not stop being launched, so many people buy them to see if they hit the jackpot. As for gambling specifically, you can't bet with most of the ones that are launched but one of the reasons to bet with them are fast confirmation times and fees, as mentioned, apart from seeing a possibility of higher potential return.

[Nrcewker]

It has been reported that the online gambling industry has shown more people are starting to use crypto to gamble online forgoing Fiat. And that there is a greater interest in betting with Altcoins.
 

I guess the reason for choosing cryptos over fiat is due to to the anonymous nature of Cryptos.
Many crypto sportsbook don't ask for KYC if you bet in limit.
In the other hand 98% of the Fiat sportsbook force you to do KYC before placing any bet.
This may be the major reason for people showing interest into crypto and alts and betting into it.
Moreover there are also some people who choose Bitcoins and alts to bet only because of it’s asset value.
Suppose if they bet 0.005 BTC and due to good fortune they won and make around 0.01 BTC and in the next week Bitcoin’s price rises, so definitely in this scenario they will make more profits .
So I guess this is the mindset of people who chooses crypto gambling instead of FIAT gambling.

[michellee]

The pandemic is another factor that highlights the advantage of crypto via fiat since it has lot of limitation and restrictions when it comes to online gambling. I don't know if we can already say that crypto casino is already gaining more players than fiat without any legit statistics to support but one thing is for sure that crypto casino increase there volume and valuation when pandemic hits so maybe online fiat casino is now starting to slowly adopt crypto.

That's right because with this pandemic, people are encouraged to work from home and are not allowed to go anywhere, thus making them use the internet more often than before. From there, it is used by providers who use cryptocurrencies to advertise everywhere and eventually people see crypto and get curious. People who are used to gambling using fiat feel curious about gambling using crypto then they try it and eventually become interested in using it and move to crypto.

[stepwilli]

That's not surprising because cryptos right now are popular compared to where they are few years ago. The more the people learn crypto, the more use cases that they unlock and that includes crypto gambling. Not only crypto gambling but many fiat gambling sites have also emerged. This is due to the pandemic where the offline casino business is slowing down, resulted for those owners and gamblers to migrate online.

Other than cryptos, fiat-based online payments are also becoming a thing now and many companies are still creating their own brands. They are the rival of cryptos other than the stable coins and cryptos that are owned by banks and governments.

[Maus0728]

That's not surprising because cryptos right now are popular compared to where they are few years ago. The more the people learn crypto, the more use cases that they unlock and that includes crypto gambling. Not only crypto gambling but many fiat gambling sites have also emerged. This is due to the pandemic where the offline casino business is slowing down, resulted for those owners and gamblers to migrate online.

Other than cryptos, fiat-based online payments are also becoming a thing now and many companies are still creating their own brands. They are the rival of cryptos other than the stable coins and cryptos that are owned by banks and governments.

Fiat based online payments are already a thing years a go. Even the implementation of it towards the gambling industry were not new. They've just managed to apply the fast transaction idea and the blockchain technology of the crypto but only just using their local fiat. Lastly, if you are more onto gambling especially in your local gambling industry, fiat gambling platforms are common. it's just not popular to some due to it being illegal or there are regulations applied.

[adzino]

1. They are choosing crypto currencies over fiat to gamble because it is just very easy to add your funds and withdraw it. Almost instant with no delays. No risk of your funds getting stuck or rejected by the bank or high transaction fees.

2. They prefer altcoins because altcoins are comparatively faster when it comes to deposit. Almost instant confirmation and a very low fee allows them to start gambling as soon as they send the funds.

[bittraffic]

1. They are choosing crypto currencies over fiat to gamble because it is just very easy to add your funds and withdraw it. Almost instant with no delays. No risk of your funds getting stuck or rejected by the bank or high transaction fees.

2. They prefer altcoins because altcoins are comparatively faster when it comes to deposit. Almost instant confirmation and a very low fee allows them to start gambling as soon as they send the funds.

One would forget they are actually spending money while using altcoins. In the stories of the early adopters of crypto, they were just betting Dogecoin like its nothing. They bet 10K-20K Doge in one roll of dice. Some of us today are also doing the same with SHIB in dice. They don't mind the quantity because he altcoin is cheap.

Couldn't consider this an advantage in using altcoin especially if the altcoin has potential.