Crypto Bet: A wider Array of Altcoins are being usef

[Jody.Drummer]

All these started doing the covid-19 period where everybody was indoor. People had nothing to do with there time than to play online games and gamble to earn money since there was no other alternative for individual to work and earn money. Crypto gambling because more popular that the rate at which people go into gambling was enormous. The crypto gambling is becoming more popular and is making users to dump fiat as time goes on.

Depending on how the dominant community knows about crypto gambling or even fiat gambling itself, it has increased since the pandemic took place. Actually what I noticed was the environment in which people started playing in online casinos. Be it fiat or crypto gambling, crypto gambling is dominated by those who have interacted with crypto for a long time. Meanwhile, new gamblers still use fiat as a means of paying their bets.

This can only be seen on a regional scale, depending on whether people are more familiar with crypto or not.

[LUCKMCFLY]

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/

All these started doing the covid-19 period where everybody was indoor. People had nothing to do with there time than to play online games and gamble to earn money since there was no other alternative for individual to work and earn money. Crypto gambling because more popular that the rate at which people go into gambling was enormous. The crypto gambling is becoming more popular and is making users to dump fiat as time goes on.

I understand the fact of seeking to bet with altcoins, now much more because of the current market situation, I know that this does not have much to do with gambling, but in some way there will always be a direct connection between them, it is for this reason that some players as the market is so low and the altcoins are so low, that they resort to gambling to try to multiply those coins, because trading for now is somewhat difficult to win with those coins, it is more feasible sometimes to make a couple of bets and leave something to chance to see what happens, I think that is one of the reasons why many seek to bet with altcoins.

[Desmong]

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/

We ba know that gambling on with cryptocurrency is more safer and privacy covered than using the normal fiat method where you will have to disclose your credit card details to a casino having the power to remove your fund even without your permission. Cryptocurrency gambling just like using altcoins is a smart  way to gamble even with a volatile market. There are stable coins one can use to prevent volatility of the market from giving a strange price that could reduce the value of our holdings.

[Jawhead999]

We ba know that gambling on with cryptocurrency is more safer and privacy covered than using the normal fiat method where you will have to disclose your credit card details to a casino having the power to remove your fund even without your permission. Cryptocurrency gambling just like using altcoins is a smart  way to gamble even with a volatile market. There are stable coins one can use to prevent volatility of the market from giving a strange price that could reduce the value of our holdings.

When you're playing on casino where they ask your KYC, you're no longer safe and privacy protected. Every casino have a power to confiscate your funds since you don't have full control over your funds. Stable coins is similar like fiat where the price suppose to stick $1, what's the different than? and yeah don't forget about UST stable coin can fall down to below $0.1

[asyakashi]

I think some banking laws prohibit their customers from transacting for gambling, it might be detected as illegal. Meanwhile, the existence of cryptocurrency makes it easier for them from blocking accounts and cryptocurrencies in online transactions are indeed very easy to use. Using altcoins with gambling also seems easier to calculate, with very low withdrawal fees.

[SirLancelot]

We ba know that gambling on with cryptocurrency is more safer and privacy covered than using the normal fiat method where you will have to disclose your credit card details to a casino having the power to remove your fund even without your permission. Cryptocurrency gambling just like using altcoins is a smart  way to gamble even with a volatile market. There are stable coins one can use to prevent volatility of the market from giving a strange price that could reduce the value of our holdings.

Safer in terms of privacy related matters because cryptos are anonymous but when it comes to other stuffs, no. Crypto is not safer because it is more volatile and you can already start losing your money even if you don't start gambling yet and also transactions here are non reversible so make sure you have enough knowledge before dealing with cryptos because you can lose your crypto in the process, also once we get hacked or scam, it will be hard to trace the criminals. This is something that cant be experience when using a fiat. I am no way of defending fiat but I am still a crypto supporter that is why I am here but I am only telling the difference between them.

[shasan]

if you will go to traditional casino, can you go there just having 10 bucks in your pocket? I think you will be hesitant to go inside, right?

Agreed with you about the re-visit of the op. You are right that there is no way to go to a traditional casino with only 10 bucks even many gambling site does not allow 10 buks in btc but they allow with altcoin. And another thing is that altcoin can be available in shorten time than bitcoin. That is another reason of being famous of altcoin.

[South Park]

The reason why cryptocurrencies are being used more in casinos in recent times is due to the fact that it is easier for anyone to create an account at an online casino and then play. Can you imagine how difficult it would be if casinos only accepted fiat and people were forced to KYC? how many people would do KYC, go to the bank to deposit money and be playing in a casino where the only option would be to deposit in FIAT? banks are complicated, banks have a lot of bureaucracy, and it would be hard to justify where the money is going every day. while with cryptocurrencies everything became easier. people don't need to worry about KYC and banks. they can only buy cryptocurrencies using bank accounts and then they can play at will for a long time until their money fits or if they win a lot of money they only have to withdraw in parts to the bank

Another reason simply has to do with the fact that many people like to keep their gambling a secret from their families or their coworkers, even in many places in which gambling is legal there is still a stigma against those that are gamblers, as many people think they are addicted to it even if they have their gambling under control, and the stigma is even worse at countries where gambling is illegal, so it makes sense that people like to gamble at cryptocurrency casinos as a way to keep a higher level of privacy.

[goldkingcoiner]

I think that perhaps the biggest issue with using a diverse array of altcoins is the legal and regulatory aspect. When online gambling casinos use Bitcoin, they can feel safer than when they use some new or untested alternative which may or may not turn out to be a security risk or a regulatory risk. Especially if the coin is ruled a security under the sec for example.

How do you avoid this in your online gambling casino?

[mak013]

I think that perhaps the biggest issue with using a diverse array of altcoins is the legal and regulatory aspect. When online gambling casinos use Bitcoin, they can feel safer than when they use some new or untested alternative which may or may not turn out to be a security risk or a regulatory risk. Especially if the coin is ruled a security under the sec for example.

How do you avoid this in your online gambling casino?

There are many altcoins which had recommended themselves, i don`t see a problem to use them. But the problem can be that some altcoins have big commissions(ETH), some have problems with blockchain stability(SOL), some altcoins have high volatility, for use some of them you have to use new cryptowallet or register on some new exchange. Right now i use 3 cryptowallets, registered on 6 cryptocurrencies exchanges and it is a problem sometimes to remember where my altcoins are.