The Pros and Cons of Bitcoin Gambling

[gunhell16]

  Nowadays, there are a lot Bitcoin gamblers who are hoping to earn big in a short period of time. But the majority of the community are not aware and don't have any idea regarding about the advantages and disadvantages of this industry. That is why I'd like to discuss this matter to show what I had discovered in the Bitcoin gambling.






BITCOIN GAMBLING ADVANTAGES FOR PLAYERS

1. It is decentralized.
2. It is secure.
3. It is private.
4. It is fast.
5. It is not subject to inflation.
6. It is not always taxed
7. Bitcoin has (had) low transaction fees.


BITCOIN GAMBLING DISADVANTAGES

1.Bitcoin is volatile.
2.It is a work in progress.
3.Not a “household” payment method.
4.It is untraceable


Source: https://www.softswiss.com/knowledge-base/advantages-disadvantages-using-bitcoin/?fbclid=IwAR2bkScSBwyYNCu3I7wQCu9vOEW5j_G2Q2ITdFp2pyEE-ADCQ3bPXe7w9jE


Now that all of us have an idea about the Pros and cons according to the source link,  I'd like to ask something to anyone here in the forum.

- Is it convenient to play in the Bitcoin Gambling?
- How does Bitcoin gambling work?
- Does Bitcoin Gambling can give a good opportunity to everyone?

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

 Bitcoin gambling for me is just a matter of Fun or amusement in accordance with my insight with this.
Hope every one can give other tips on this matter..

[1715017371]

1715017371

[1715017371]

1715017371

[1715017371]

1715017371

[Despairo]

1. It is decentralized
2. It is secure
3. It is private

Wrong,
Bitcoin is decentralized, but if you have deposited your coins to centralized services e.g. casino, it's no longer decentralized and they have a control over your coins.
Bitcoin is secure, but if you have deposited your coins to a casino, it's no longer secure since any website are vulnerable to get hacked e.g. exchanges had been hacked multiple times.
Bitcoin is private, but if you have deposited your coins to a casino, it's no longer private since they have recorded your IP, device and moreover you have submitted your personal information to them, they can easily know your name, face, location etc.

4. It is untraceable. Bitcoin’s anonymity

Wrong,
Bitcoin is not anonymous, but pseudonymous. Anyone can trace Bitcoin if they didn't use a mixer or having good privacy concern.

- Is it convenient to play in the Bitcoin Gambling?
- How does Bitcoin gambling work?

It's more convenient due to easier than using fiat to gamble and there's no much difference between Fiat based casino and Bitcoin based casino. It works same, the main difference is the payment method.

[cabron]

For the not techie and want to start playing with Bitcoin on casino, those pros and cons are enough to decide to join Bitcoin gambling. Once they are already learning it all, they'd realize the article they once read is not telling the whole thing. Ofcourse there are few in list that can be disputed, softswiss is selling something for casinos and enticing gamblers.

The work in progress is better. I think when the privacy option will be updated, BTC will have a new pros.

[coin-investor]

The whole post is a copy-paste from the source, OP is breaking one of the forum rules, he should just copy and quote an excerpt from the article and create his own unique thread, this could be flagged down, I'm surprised that OP has a senior rank we can excuse this if it's coming from a newbie but not good if it's coming from a senior member, OP should know better.

[Sarah Azhari]

The whole post is a copy-paste from the source, OP is breaking one of the forum rules, he should just copy and quote an excerpt from the article and create his own unique thread, this could be flagged down, I'm surprised that OP has a senior rank we can excuse this if it's coming from a newbie but not good if it's coming from a senior member, OP should know better.

He currently wakes up after 1 half year of sleep and writes 10 posts in 1 day. but for sure, the bitcoin gambling was live at that time (2021), and he should know to not asking the stupid question like this: How does Bitcoin gambling work?, - https://bitcointalk.org/index.php?topic=927971.0

[Wexnident]

Seems dumb to me tbh. This isn't about crypto vs fiat gambling, you can remove the gambling part and you can still get the same argument or discussion imo. The two mediums differ from each other which brings about the advantages, so really, it isn't a matter of gambling but rather the usual comparison of fiat vs Bitcoin/crypto. But anyway to answer OP's question.

- Is it convenient to play in the Bitcoin Gambling?

It's convenient to use crypto in my case.

- How does Bitcoin gambling work?

Like any other gambling out there, but crypto is used instead of fiat.

- Does Bitcoin Gambling can give a good opportunity to everyone?

No.

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

What now? Being addicted to gambling whether you use fiat or crypto is nothing similar or can come close to being called a "good result".

[Saisher]

The whole post is a copy-paste from the source, OP is breaking one of the forum rules, he should just copy and quote an excerpt from the article and create his own unique thread, this could be flagged down, I'm surprised that OP has a senior rank we can excuse this if it's coming from a newbie but not good if it's coming from a senior member, OP should know better.

He currently wakes up after 1 half year of sleep and writes 10 posts in 1 day. but for sure, the bitcoin gambling was live at that time (2021), and he should know to not asking the stupid question like this: How does Bitcoin gambling work?, - https://bitcointalk.org/index.php?topic=927971.0

The history of posts seems ok he was active in the gambling section before he takes a long vacation but very questionable why he needed to post the whole content of the article this is plagiarism and he can get himself ban, he better edit his thread and just extract important points on the article and quote and make his own unique posts.
He's a senior member with Post; 1611 Activity:   994 I don't have to remind him that he is plagiarizing.

[adzino]

 Nowadays, there are a lot Bitcoin gamblers who are hoping to earn big in a short period of time. But the majority of the community are not aware and don't have any idea regarding about the advantages and disadvantages of this industry. That is why I'd like to discuss this matter to show what I had discovered in the Bitcoin gambling.



BITCOIN GAMBLING ADVANTAGES FOR PLAYERS

1. It is decentralized.
2. It is secure.
3. It is private.
4. It is fast.
5. It is not subject to inflation.
6. It is not always taxed
7. Bitcoin has (had) low transaction fees.

1. It is but once you send your coins to the casino, you are sent it to the centralized wallet.

2. Security depends on the casino.

3. Not anymore if you have to pass KYC for playing.

4. And sometimes very slow!

6. It is always taxed. You choose not to disclose your assets and earnings.

7. Not always.

4.It is untraceable

Not really. Bitcoin is pseudonymous. Not anonymous. And since you will provide your ID to the casino, it can be traced back to you.

[gunhell16]

The whole post is a copy-paste from the source, OP is breaking one of the forum rules, he should just copy and quote an excerpt from the article and create his own unique thread, this could be flagged down, I'm surprised that OP has a senior rank we can excuse this if it's coming from a newbie but not good if it's coming from a senior member, OP should know better.

He currently wakes up after 1 half year of sleep and writes 10 posts in 1 day. but for sure, the bitcoin gambling was live at that time (2021), and he should know to not asking the stupid question like this: How does Bitcoin gambling work?, - https://bitcointalk.org/index.php?topic=927971.0

The history of posts seems ok he was active in the gambling section before he takes a long vacation but very questionable why he needed to post the whole content of the article this is plagiarism and he can get himself ban, he better edit his thread and just extract important points on the article and quote and make his own unique posts.
He's a senior member with Post; 1611 Activity:   994 I don't have to remind him that he is plagiarizing.

last year 2021 I started to rest because that was my Doctor's advice to me, meaning even if I want to continue to be active here in the forum I can't do it because I'm in the stage where I need to recover my illness and I'm in the stage of my medication, any gadgets are forbidden unless I can see a good recovery from my condition. And I've just been notified that I can use gadgets, laptops or desktops recently, so here I am, returning to being active here on the forum.

How can you say that I posts 10 in 1 day Sir? did you check my history of post? please don't judge me on that matter.
I admit You are right that I should double check and edit to make my post looks good and that's what I did and I am grateful for that to you. But telling something that is not true is not a good things. Thank you and God bless you sir.

[serjent05]

Is it convenient to play in the Bitcoin Gambling?

It is convenient as long as the Bitcoin Gambling Casino does not require KYC.

- How does Bitcoin gambling work?

Well, it is either a Casino accepting cryptocurrency and using Bitcoin as a method to bet or a site that encourages P2P betting with Bitcoin.

- Does Bitcoin Gambling can give a good opportunity to everyone?

From a player's perspective, I don't think Bitcoin gambling gives a good opportunity to earn for everyone but as a Casino, it gives an opportunity to cater to crypto enthusiast people that wanted to use Bitcoin to gamble.

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

Any addiction doesn't give a positive result so it isn't right to say that even if you are into Bitcoin gambling.

last year 2021 I started to rest because that was my Doctor's advice to me, meaning even if I want to continue to be active here in the forum I can't do it because I'm in the stage where I need to recover my illness and I'm in the stage of my medication, any gadgets are forbidden unless I can see a good recovery from my condition. And I've just been notified that I can use gadgets, laptops or desktops recently, so here I am, returning to being active here on the forum.

Welcome back, I hope you are all good now.

I admit You are right that I should double check and edit to make my post looks good and that's what I did and I am grateful for that to you. But telling something that is not true is not a good things. Thank you and God bless you sir.

It is good to see you take the criticism positively and try to improve your post. Not many people are able to do this kind of acceptance, others are insulted or offended when someone comes up with harsh comment.

[traderethereum]

- Is it convenient to play in the Bitcoin Gambling?
- How does Bitcoin gambling work?
- Does Bitcoin Gambling can give a good opportunity to everyone?

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

 Bitcoin gambling for me is just a matter of Fun or amusement in accordance with my insight with this.
Hope every one can give other tips on this matter..

- It depends on each people who wants to play gambling. If they often use crypto, they will not try the other payment because they feel comfortable using crypto.
- What opportunity? If that is an easiness, then that will be back to each person.
- It is not a good result if you become addicted to gambling as you will forget how to stop gambling and play gambling more.

Playing gambling using crypto is an option for people who want to hide their identity from others.

[stepwilli]

Most of the advantages that you list only applies to a decentralized bitcoin gambling sites because there are also centralized one which accepts bitcoin. About the disadvantage, they are not really a disadvantage to a true bitcoin user but they are in fact an advantage.

Is it convenient to play in the Bitcoin Gambling?

Yes, because there are no restrictions of using this currency.

How does Bitcoin gambling work?

It works just like a normal gambling but the only difference is that we are using bitcoin as a currency.

Does Bitcoin Gambling can give a good opportunity to everyone?

Yes, of course. The opportunity is to have fun and also to earn a profit if we are lucky.

if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

If it's only advantage that is mostly felt I think yes, I can say that I am addicted in a good way.

Like you I also treat bitcoin gambling for fun and if there is a tip that I can give, that would be to gamble only the money that is not really needed so that you will not worry once you lose it all.

[Doell]

- Does Bitcoin Gambling can give a good opportunity to everyone?
- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin gambling

IMO gambling using Bitcoin is something profitable, let's say you own 1 Bitcoin and gamble. Then you win and your balance become 100 Bitcoin, also there is added selling value for you if the bitcoin price increases. You can simultaneously invest and hold in the long term, it will make you luckier.
Addiction will not find good results, playing gambling if you are not smart will always find a point of lose. Addiction is a sickness, it's good to gamble just to fill spare time and not be always consumed for your mind.

[dothebeats]

4.It is untraceable

Bitcoin IS traceable to the trained individual. The thought that bitcoin is untraceable is outright wrong. With lots of technologies invented that is dedicated to the tracking and isolating transactions to a single individual that improves over time, it is impossible that neither of those can connect random transactions to certain people. Also, this pseudo-anonymity feature of bitcoin is not really a con for gambling, but rather something positive for the gambler. As much as possible, gamblers would avoid getting their name involved in such activities, and bitcoin helps in doing just that.

[serjent05]

- Does Bitcoin Gambling can give a good opportunity to everyone?
- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin gambling

IMO gambling using Bitcoin is something profitable, let's say you own 1 Bitcoin and gamble. Then you win and your balance become 100 Bitcoin, also there is added selling value for you if the bitcoin price increases. You can simultaneously invest and hold in the long term, it will make you luckier.

Or we can look at it from a pessimist view, we have 100 BTC then we played and lost it all in a single session.  Now we regret why we did not stop while we still have a chance to minimize the losses. Meaning there is no sure good opportunity to gain in Bitcoin gambling, even fun can turn into worries if we failed to have self-check.

Addiction will not find good results, playing gambling if you are not smart will always find a point of lose. Addiction is a sickness, it's good to gamble just to fill spare time and not be always consumed for your mind.

I agree, there is never a good kind of addiction.  Anything excessive is bad, even excessive love is not healthy. Though it is beneficial to your partner, you will end up destroying yourself in the process.

4.It is untraceable

Bitcoin IS traceable to the trained individual. The thought that bitcoin is untraceable is outright wrong. With lots of technologies invented that is dedicated to the tracking and isolating transactions to a single individual that improves over time, it is impossible that neither of those can connect random transactions to certain people. Also, this pseudo-anonymity feature of bitcoin is not really a con for gambling, but rather something positive for the gambler. As much as possible, gamblers would avoid getting their name involved in such activities, and bitcoin helps in doing just that.

Yeah, it should be transparent and be put on the pros of Bitcoin gambling.  With transparent transactions,  fraud attempts  will be nullified

[DoublerHunter]

4.It is untraceable

Bitcoin IS traceable to the trained individual. The thought that bitcoin is untraceable is outright wrong. With lots of technologies invented that is dedicated to the tracking and isolating transactions to a single individual that improves over time, it is impossible that neither of those can connect random transactions to certain people. Also, this pseudo-anonymity feature of bitcoin is not really a con for gambling, but rather something positive for the gambler. As much as possible, gamblers would avoid getting their name involved in such activities, and bitcoin helps in doing just that.

^ This is definitely right, even those custodial exchanges prohibited your account from sending or moving funds from the gambling casino which means, they can trace if the fund was come from the gambling casino and suddenly locked up to your account since every custodial wallet or exchange always prohibited to link your account and the casino wallet. So it's a traceable transaction.
The reason why I hate reading an article is that the author does not have a true experience on gambling using crypto, as long as they have an article to publish.

[swogerino]

It gives the advantage of being pseudo anonymous at first but with a bit of work you can make it fully anonymous by using different wallets for depositing money and different wallets for withdrawing,this is another story but the best of what bitcoin offers is convenience to not use any mean of other payment that leaves trace,credit card for example or bank deposit,these type of payments leave traces which is not ideal for people who don't want to let other people know they are gamblers for many reasons.

The transaction fees is not really an advantage compared to FIAT betting sites as the most well known FIAT betting sites you withdraw the money and they don't charge you any fee,at leas this was the case 2 or 3 years ago when I last have played at such place.

[BitcoinAccepted]

There are several advantages and disadvantages with a crypto casino / gambling site. I think the biggest advantage is that there is often anonymity. Then we leave the KYC procedure and verification out of consideration of course. Another advantage is that there are normally no limits on deposits and withdrawals. It does not go through external systems, so deposits would soon be visible after 1 or 2 confirmations on the network. Paying out is the same story, although it does require the cooperation of the site.

[khaled0111]

Those are the advantages and disadvantages (although I disagree with some of those points) of using bitcoin in general and not restricted to crypto gambling.
Actually, if we are going to talk about advantages/disadvantages of using bitcoin to gamble then most of the points you mentioned will become irrelevant. For example, the moment you send your coins to your casino account, we can't talk about décentralisation, security, privacy.. anymore.

[Fivestar4everMVP]

I don't know what other people think, but for me, I think Bitcoin is the best thing that has ever happened to the gambling industry, it doesn't matter how many the disadvantages are, what really matter is that the advantages are far more than the disadvantages.
Without bitcoin, somebody like me will never go into gambling because I hate the stress of trying to deposit fiat into my account with my debit or credit card, and also the stress one goes through during withdrawal most especially, if it is an international transaction, the fees banks charge are also nothing to write home about.
So morning, day or night, I still prefer gambling with my bitcoin than fiat.

[iv4n]

...
Bitcoin gambling for me is just a matter of Fun or amusement in accordance with my insight with this.

Gambling is gambling, doesn't matter what valuable things you use for gambling! And gambling should be fun and amusement, even better if you can make some profit here and there!

Bitcoin was the first cryptocurrency I used for online gambling! For me, that was like a new door, as a person from a third-world county I needed some special bank accounts for foreign currencies, fees for that were high and still are I think, and the choice of casinos available for my country was limited... so I never wanted to bother with all that! With crypto, it was completely different, I can play in any crypto casino, and I can move funds around so easily and cheaply! When I started to gamble with crypto I stopped gambling with fiat, and I am sure I will stay loyal to crypto gambling in the next years!

[Rengga Jati]

2. It is secure.

This matter actually does not guarantee 100% security. Moreover, this is something digital where there are also concerns about hacks. Secure or not will depend on how we choose a wallet, store data, and also treat it. Moreover, we have seen several cases of Bitcoin hacks or losses because of our own mistakes or not.

7. Bitcoin has (had) low transaction fees.

Yes, fortunately, we have several options of sending Bitcoin networks. Moreover, if we are using lightning or Segwit. But btw, there is still several gambling platforms that also use flat transaction fees and they are high fees. This may only happen in come certain platforms only

1.Bitcoin is volatile.

I personally can't say that volatility is part of the disadvantages. Volatility sometimes can be one of the advantages as long as we know the right time to utilize it. But yes, this is volatile and risky.

[Johnyz]

Those are the advantages and disadvantages (although I disagree with some of those points) of using bitcoin in general and not restricted to crypto gambling.
Actually, if we are going to talk about advantages/disadvantages of using bitcoin to gamble then most of the points you mentioned will become irrelevant. For example, the moment you send your coins to your casino account, we can't talk about décentralisation, security, privacy.. anymore.

That’s for general, decentralize only means for Bitcoin but in some gambling site, KYC is mandatory and that kills the purpose of decentralized. Well, every coin/token here have their own pros and cons, so used what is more comfortable with you. I personally don’t use Bitcoin for my gambling because I just hold it for long term purposes, I prefer altcoins for this and I know I can be more profitable if I don’t use my Bitcoin. If there’s an option for altcoins on the site you are using, better to go for that.

[TimeTeller]

I don't know what other people think, but for me, I think Bitcoin is the best thing that has ever happened to the gambling industry, it doesn't matter how many the disadvantages are, what really matter is that the advantages are far more than the disadvantages.
Without bitcoin, somebody like me will never go into gambling because I hate the stress of trying to deposit fiat into my account with my debit or credit card, and also the stress one goes through during withdrawal most especially, if it is an international transaction, the fees banks charge are also nothing to write home about.
So morning, day or night, I still prefer gambling with my bitcoin than fiat.

Gambling industry is one of the earliest applications of bitcoin.
I came to know bitcoin and other alts, because of gambling sites like primedice and freebitco.
So I can say, I am grateful to these online casinos that open doors for me in knowing more about crypto.
There will always be pros and cons, and it is up to you how you will use it to your advantage.
Just like you, we don't need to use fiat in order to use a gambling site. If you have crypto, you have your convenience to do so.
You can also trade your btc to other alts, if you don't want to use btc. Really up to your preferences here.
But if you will be using your fiat, high likely that the site will ask your credentials especially if you will be using a credit card.

[KennyR]

I don't know what other people think, but for me, I think Bitcoin is the best thing that has ever happened to the gambling industry, it doesn't matter how many the disadvantages are, what really matter is that the advantages are far more than the disadvantages.
Without bitcoin, somebody like me will never go into gambling because I hate the stress of trying to deposit fiat into my account with my debit or credit card, and also the stress one goes through during withdrawal most especially, if it is an international transaction, the fees banks charge are also nothing to write home about.
So morning, day or night, I still prefer gambling with my bitcoin than fiat.

Gambling industry is one of the earliest applications of bitcoin.
I came to know bitcoin and other alts, because of gambling sites like primedice and freebitco.
So I can say, I am grateful to these online casinos that open doors for me in knowing more about crypto.
There will always be pros and cons, and it is up to you how you will use it to your advantage.
Just like you, we don't need to use fiat in order to use a gambling site. If you have crypto, you have your convenience to do so.
You can also trade your btc to other alts, if you don't want to use btc. Really up to your preferences here.
But if you will be using your fiat, high likely that the site will ask your credentials especially if you will be using a credit card.

Yes, gambling is one of the industry that started to use bitcoin and other cryptocurrencies understanding the usage of it. Compared to the traditional gambling platforms, the cryptocurrency accepted platforms give the ease of gambling without much difficulties being faced in terms of placing bets and transaction limits.

If gambling platforms haven't used cryptocurrencies during the beginning days, then the cryptocurrency market might've never been this big as now. The usage let users understand and kept the circulation of the market. Even there is a bad impression over cryptocurrency due to its increased usage on gambling, but in reality gambling industry have contributed good to the growth of cryptocurrencies as a whole.

[ralle14]

- Is it convenient to play in the Bitcoin Gambling?
- How does Bitcoin gambling work?
- Does Bitcoin Gambling can give a good opportunity to everyone?

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

IMO it's only convenient if you have several ways to buy bitcoin since the process and experience are still the same if you play in casinos that accept different payment methods without requiring KYC after registration. I feel like there's no need to answer the second question so i'll skip that one and just answer the next two questions.

Bitcoin casinos do provide opportunities as you're allowed to play and deposit with very small amounts compared to fiat casinos but there are still a few casinos that barely adjust their minimums.

Nope, getting addicted to gambling doesn't change anything even if you're playing with bitcoin as that advantage only feeds your addiction even further since it becomes more convenient and accessible to the gamblers.

[Darker45]

BITCOIN GAMBLING DISADVANTAGES
4.It is untraceable

What do you mean untraceable? If you're referring to Bitcoin, it is not. Quite the contrary, Bitcoin is actually transparent. Your deposit to and from your gambling platform of choice could be traced through the blockchain. But if you're referring to bets being untraceable, not really. Fairness among casinos are provable. In terms of sports betting, I guess there's no question about it. Your betting history is there.

Perhaps what you've forgotten about the disadvantages of Bitcoin gambling is that transaction fees could really be a pain in the ass. This is the main reason why gambling with altcoins with cheaper fees is a better choice. Aside from that, sometimes it is confusing gambling with decimals. This is where the likes of DOGE is an advantage.

[Don Pedro Dinero]

<...>

I agree 100% with what you say. I would also add to point 6:

6. It is not always taxed

Whether it is taxed or not does not depend on betting with bitcoin, it depends on the regulations of each country. What happens is that there will be many people who do not declare it: the typical case of someone who lives in a country where gambling is regulated and taxed but connects to a cryptocurrency casino via vpn or tor and does not declare what they win there. So the number 6 is false as well.

[Jawhead999]

I personally don’t use Bitcoin for my gambling because I just hold it for long term purposes, I prefer altcoins for this and I know I can be more profitable if I don’t use my Bitcoin. If there’s an option for altcoins on the site you are using, better to go for that.

How altcoins can be more profitable rather than Bitcoin for gambling? they only have difference regarding the fees, but currently any coins fees are cheap, so there's not to much difference. Altcoins price can drop so much and that's make your altcoins value are less even you've accumulate more coins. Example you gamble with 100 UST when the value still $1/UST, so your initial capital are $100. After you gamble and won 400 UST, your account have 500 UST but the price is drop to $0.1/UST, so your capital now $50 this mean your winning are useless since you didn't earn anything, but you lose 50%.

[bittraffic]

That is not true, majority of the community knows the pros and cons they are just doing it voluntarily because its for entertainment and making money too if they won. The fact that there are gambling addiction related threads here meaning we have read it all and are aware of all information from Bitcoin as investment and as a currency to gamble.

I personally don’t use Bitcoin for my gambling because I just hold it for long term purposes, I prefer altcoins for this and I know I can be more profitable if I don’t use my Bitcoin. If there’s an option for altcoins on the site you are using, better to go for that.

How altcoins can be more profitable rather than Bitcoin for gambling? they only have difference regarding the fees, but currently any coins fees are cheap, so there's not to much difference. Altcoins price can drop so much and that's make your altcoins value are less even you've accumulate more coins. Example you gamble with 100 UST when the value still $1/UST, so your initial capital are $100. After you gamble and won 400 UST, your account have 500 UST but the price is drop to $0.1/UST, so your capital now $50 this mean your winning are useless since you didn't earn anything, but you lose 50%.

Using altcoins means you are not losing BTC especially if you just earn these atlcoins from staking but its also true that holding altcoins are just not profitable.

[Mauser]

Now that all of us have an idea about the Pros and cons according to the source link,  I'd like to ask something to anyone here in the forum.

- Is it convenient to play in the Bitcoin Gambling?
- How does Bitcoin gambling work?
- Does Bitcoin Gambling can give a good opportunity to everyone?

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

I don't look at Bitcoin gambling any different than normal gambling. Since a young kid I was interested in gambling and always enjoyed seeing Las Vegas on TV with all the flashy lights. A gambler in the 80s in Las Vegas must have had a perfect live, that was the golden days back then. For me I started gambling when I was 18 and it became legal for me in my country.  So many years before going into crypto currencies I was already gambling. Taking the step from casino gambling to online gambling became natural for me during the Poker hype a few years. Then the Covid pandemic made it even more one sided. Now I haven't seen the inside of a real casino in more than 3 years.
Being addicted to anything in life is a bad situation, doesn't matter if it's alcohol, gaming, cigarettes or gambling, we need help to stop that cycle. The problem is not only all the money we spent on it but also the time it takes, we spend days only thinking about the addiction and have troubles focusing on important things. I don't think there is any advantage being addicted to bitcoin gambling compared to normal gambling. The opportunity of bitcoin in my opinion is that it gives us the chance to generate some additional income. Bitcoins in our wallet don't generate any dividend and especially for HODL investors our coins stay in the wallet a very long time. When we use some of the coins for gambling we can make some profits on the side.

[Bitinity]

2. It is secure.

Security is depending on the security system of the casino as well as depending on how you try to secure your gambling account.

3. It is private.

It was, but it is not private anymore due to regulation and license.

4. It is fast.

I'm both fiat and bitcoin gambling, but I have to say that fiat is faster than bitcoin. There is no network confirmation needed in fiat payment system, once I sent my fiat money then it will reflected to my gambling account instantly.

7. Bitcoin has (had) low transaction fees.

Here in my country where most people play in local gambling sites with fiat. There is no transaction fee for both deposit and withdrawal, means that we dont have to pay any fee. Bitcoin on the other side may have high transaction fee, even worst there are some casino that charges you so high withdrawal fee but there are some casino with no withdrawal fee. In this case, fiat payment is better than bitcoin (at least for me).

[serjent05]

I don't know what other people think, but for me, I think Bitcoin is the best thing that has ever happened to the gambling industry, it doesn't matter how many the disadvantages are, what really matter is that the advantages are far more than the disadvantages.

I understand really!  Without Bitcoin, I would never have had an online gambling experience.  I am one of the many who used to have no bank account so I can never do any financial transaction online.  But with involvement in Bitcoin, I am able to do it and even have an online gambling activity.

Without bitcoin, somebody like me will never go into gambling because I hate the stress of trying to deposit fiat into my account with my debit or credit card, and also the stress one goes through during withdrawal most especially, if it is an international transaction, the fees banks charge are also nothing to write home about.
So morning, day or night, I still prefer gambling with my bitcoin than fiat.

At least you have an option, while I used to have none until I knew Bitcoin.

I personally don’t use Bitcoin for my gambling because I just hold it for long term purposes, I prefer altcoins for this and I know I can be more profitable if I don’t use my Bitcoin. If there’s an option for altcoins on the site you are using, better to go for that.

It is profitable because you hold BTC instead of spending it on gambling.  I think that can be told in the future but at the present calculation of the valuation of how much you spend on gambling is the same whether you use Bitcoin or altcoin.

[bisdak40]

- Is it convenient to play in the Bitcoin Gambling?

I'm not a heavy gambler who likes to bet on online casinos but i do sports betting with cryptocurrencies and I could say that based on my personal experience it is convenient for me to use crypto rather than fiat because it is fast (depending on the bookies and type of crypto) and like you have said, untraceable and gambling on bookies is anonymous which fit on what I'm looking for when betting online.

In general, gambling may it be online or offline can make you broke if you don't have the discipline even if you bet only for fun but if not controlled could cause you more harm rather than enjoyment.

 

[rhomelmabini]

Not to mention, Bitcoin being used on gambling sites is one of the many reasons that it flourished to what it is now. Of course there will be pros and cons on using bitcoin or other crypto on gambling sites, but I say it's on the individual to weigh that if it's convenient for them on using it or not. For me, I say it's more convenient but I try to limit it especially if it concerns my privacy.

[Boristhecat]

The thread has already indicated the controversy of the listed points, I will add my opinion on this:

5. It is not subject to inflation.

Let's say you played in a casino 10 (or 5) years ago and as a responsible player you lost only the amount that you could afford. But now, in terms of dollars, this amount is hundreds/thousands of times more than then, and you will probably regret those expenses very much. And that will stop you from playing with bitcoin again.

[Jemzx00]

Not to mention, Bitcoin being used on gambling sites is one of the many reasons that it flourished to what it is now. Of course there will be pros and cons on using bitcoin or other crypto on gambling sites, but I say it's on the individual to weigh that if it's convenient for them on using it or not. For me, I say it's more convenient but I try to limit it especially if it concerns my privacy.

Exactly, the adaption of bitcoin and other crypto being used as the main currency for gambling is one of the great thing why crypto is flourishing and prospering. Actually, other than security and anonymity of the users, there is no main pros for crypto gambling website differ in just a regular online casino. Anyways, the convenience it provides to us in the crypto industry to directly use our crypto to gamble is already to good for me.

[Markinzo]

 Nowadays, there are a lot Bitcoin gamblers who are hoping to earn big in a short period of time. But the majority of the community are not aware and don't have any idea regarding about the advantages and disadvantages of this industry. That is why I'd like to discuss this matter to show what I had discovered in the Bitcoin gambling.






BITCOIN GAMBLING ADVANTAGES FOR PLAYERS

1. It is decentralized.
2. It is secure.
3. It is private.
4. It is fast.
5. It is not subject to inflation.
6. It is not always taxed
7. Bitcoin has (had) low transaction fees.


BITCOIN GAMBLING DISADVANTAGES

1.Bitcoin is volatile.
2.It is a work in progress.
3.Not a “household” payment method.
4.It is untraceable


Source: https://www.softswiss.com/knowledge-base/advantages-disadvantages-using-bitcoin/?fbclid=IwAR2bkScSBwyYNCu3I7wQCu9vOEW5j_G2Q2ITdFp2pyEE-ADCQ3bPXe7w9jE


Now that all of us have an idea about the Pros and cons according to the source link,  I'd like to ask something to anyone here in the forum.

- Is it convenient to play in the Bitcoin Gambling?
- How does Bitcoin gambling work?
- Does Bitcoin Gambling can give a good opportunity to everyone?

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

 Bitcoin gambling for me is just a matter of Fun or amusement in accordance with my insight with this.
Hope every one can give other tips on this matter..

Is it convenient to play in the Bitcoin gambling? Bitcoin gambling is one aspect of gambling or a gamble method I have come to enjoy ever since I discovered that it could be used to play gambling. It's easy and comfortable with just a click you're good to go and the winning profit can't be compared to that of fiat money.

How does Bitcoin gambling work? For me it works so well, just with a transfer of the amount of Bitcoin you wish to use into your bet account, all you need do is just make your predictions and place a bet with any amount of coin of your choice.

Does Bitcoin Gambling can give a good opportunity to everyone? This I can't say, cause gambling is gambling irrespective of how it is modified, what seem to be an opportunity for someone else may not not be same for another.


 if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling? It depends on what you mean by a good result, even though with the advantages put up above, don't forget that the security of Bitcoin gambling, its decentralization, and privacy only applies as cryptocurrency and not when it is under the gambling site account you created for yourself.

[KTChampions]

~

7. Bitcoin has (had) low transaction fees.

Here in my country where most people play in local gambling sites with fiat. There is no transaction fee for both deposit and withdrawal, means that we dont have to pay any fee. Bitcoin on the other side may have high transaction fee, even worst there are some casino that charges you so high withdrawal fee but there are some casino with no withdrawal fee. In this case, fiat payment is better than bitcoin (at least for me).

But using fiat always means KYC, right? And KYC means taxes in case you managed to make a profit. But in general, I agree with all your comments, since now there are few purely crypto casinos that would be completely free from regulators, so gradually the use of the crypto becomes indistinguishable from the use of fiat (and the disadvantages of the crypto in the form of commissions or low speed remain).

[Gianluca95]

I don't see any advantage or disadvantage in bitcoin gambling, it is only an alternative way to gamble.

The only good thing is that if you're from a country that deny the access on gambling site, with bitcoin you can easily bypass this restriction and play. This is the only advantage that I see at the moment.

[Oshosondy]

I don't see any advantage or disadvantage in bitcoin gambling, it is only an alternative way to gamble.

What I have noticed is even crypto gambling generally, all gambling sites that were accepting only bitcoin before are now accepting other coins like ethereum, litecoin and USDT, as OP only specify only on bitcoin can make people think there are betting sites that accept only bitcoin.

But I see more convenience to use bitcoin to gamble than fiat.

The only good thing is that if you're from a country that deny the access on gambling site, with bitcoin you can easily bypass this restriction and play. This is the only advantage that I see at the moment.

You are right, but if and only if the betting site do allow VPN because most likely the IP address of the country that restrict his citizens not to gamble will be blocked from accessing the betting site.

[blockman]

The value of bitcoin if you're going to gamble right now will depend on what you feel. If it's totally okay with the current price of bitcoin then you can gamble no matter what the situation is.
But if you're thinking about the current value of it then that's lesser bitcoin for you to gamble. This moment is tackling everyone as we're in the bear market, we still have options and they're a lot so if you don't like to gamble in bitcoin, choose the other options.

[ipanks]

snip

snip

Maybe that's true but even if he can use bitcoin, I don't think it will be easy for him to be able to gamble in a casino that refuses his country to gamble because it's written in their regulations. Even if he uses a VPN to visit the site, I think the casino will know he's broken their rules and could have his account locked out. If I were him, I would not visit that casino, especially if I knew the casino does not allow my country to access the site.

[Davidvictorson]

- Is it convenient to play in the Bitcoin Gambling?

I feel that there is no difference between bitcoin gambling and fiat gambling. Here, I'd say it is more convenient to receive winnings in bitcoin than in fiat.

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin gambling

Gambling addiction cannot be said to be a "good result" because addiction is simply a loss of self-control. Therefore, it cannot have any positive correlation with gambling. Although I have seen folks who gamble but are not addicted to it. Infact for some of them it is an investment and they have become so good at it that they have been able to consistently made profits from it. In this sense, I will agree that this is a "good result" of gambling.

[KTChampions]

The value of bitcoin if you're going to gamble right now will depend on what you feel. If it's totally okay with the current price of bitcoin then you can gamble no matter what the situation is.
But if you're thinking about the current value of it then that's lesser bitcoin for you to gamble. This moment is tackling everyone as we're in the bear market, we still have options and they're a lot so if you don't like to gamble in bitcoin, choose the other options.

I wonder how those who strictly adhere to the budget feel today, but even without playing, they have lost more than 10% of their capital in bitcoin today. It is clear that for those who have been in cryptocurrency for a long time, such fluctuations are not surprising, but for new people who have begun to use bitcoin for purely utilitarian purposes, this can bring unpleasant emotions.

[robelneo]

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin gambling

 

Everything is good until I read this I don't know if it's a typo mistake or if you have a hard time getting your message across, if you become addicted to gambling it doesn't matter where you are playing, it's a bad thing getting addicted it's not good and gamblers should do all they can not to fall and become an addiction, even the casino would not want you to become a gambling addict, they have a warning on their TOS and in fact, there are casino which bans players who they think are gambling-addicted.

[ReiMomo]

 Bitcoin gambling for me is just a matter of Fun or amusement in accordance with my insight with this.
Hope every one can give other tips on this matter..

I dont think there will be any difference in the changes made within when you play gambling with either local fiats or Bitcoin / any other crypto currencies. The difference is just the payment / currency. If you are well aware of Bitcoin and love its existence, then not only gambling, you will find more fund and amusement in every platform where Bitcoin is accepted or used. Its just who is using and how he or she is looking at bitcoin or any other currencies.

[Viscore]

- Does Bitcoin Gambling can give a good opportunity to everyone?
- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin gambling

IMO gambling using Bitcoin is something profitable, let's say you own 1 Bitcoin and gamble. Then you win and your balance become 100 Bitcoin, also there is added selling value for you if the bitcoin price increases. You can simultaneously invest and hold in the long term, it will make you luckier.
Addiction will not find good results, playing gambling if you are not smart will always find a point of lose. Addiction is a sickness, it's good to gamble just to fill spare time and not be always consumed for your mind.

There are a lot of advantages for bitcoin gambling but if you gamble without setting your limits and you play it irresponsibly, you cannot expect for a positive outcome. However, using bitcoin whether in gambling or investments have higher chances to make you profitable, but its still not a guarantee to free you from losses. And especially if you fall for gambling addiction, it makes you profitable in the first days but believe me, the rest of the days are series of losses that makes gambling addiction very unhealthy.

[TheGreatPython]

Maybe that's true but even if he can use bitcoin, I don't think it will be easy for him to be able to gamble in a casino that refuses his country to gamble because it's written in their regulations. Even if he uses a VPN to visit the site, I think the casino will know he's broken their rules and could have his account locked out. If I were him, I would not visit that casino, especially if I knew the casino does not allow my country to access the site.

That's the best thing that we can do to avoid trouble. There are so many bitcoin gambling sites nowadays, so we should not force ourselves on one site but you can always proceed to the other. See if they allow your country. I am sure that not all of them are the same that can restrict the same countries.

Bitcoins are cryptos and cryptos are supposed to be anonymous, and by this, we also have a fully decentralized gambling sites that don't have any restrictions whatsoever. It's the same as an exchange where we also have two kinds, one is centralized like binance and kuckoin and the other one is decentralized like pancakeswap and etherdelta.

[rhomelmabini]

Not to mention, Bitcoin being used on gambling sites is one of the many reasons that it flourished to what it is now. Of course there will be pros and cons on using bitcoin or other crypto on gambling sites, but I say it's on the individual to weigh that if it's convenient for them on using it or not. For me, I say it's more convenient but I try to limit it especially if it concerns my privacy.

Exactly, the adaption of bitcoin and other crypto being used as the main currency for gambling is one of the great thing why crypto is flourishing and prospering. Actually, other than security and anonymity of the users, there is no main pros for crypto gambling website differ in just a regular online casino. Anyways, the convenience it provides to us in the crypto industry to directly use our crypto to gamble is already to good for me.

When we interact and put our money inside an online gambling casino, that definitely already less secured and has less anonymity compared to when it was just on your wallet. I say the pros in it are just it's convenient for us to use directly and no need for middlemen just for us to be able to play in a casino.

[milewilda]

Not to mention, Bitcoin being used on gambling sites is one of the many reasons that it flourished to what it is now. Of course there will be pros and cons on using bitcoin or other crypto on gambling sites, but I say it's on the individual to weigh that if it's convenient for them on using it or not. For me, I say it's more convenient but I try to limit it especially if it concerns my privacy.

Exactly, the adaption of bitcoin and other crypto being used as the main currency for gambling is one of the great thing why crypto is flourishing and prospering. Actually, other than security and anonymity of the users, there is no main pros for crypto gambling website differ in just a regular online casino. Anyways, the convenience it provides to us in the crypto industry to directly use our crypto to gamble is already to good for me.

When we interact and put our money inside an online gambling casino, that definitely already less secured and has less anonymity compared to when it was just on your wallet. I say the pros in it are just it's convenient for us to use directly and no need for middlemen just for us to be able to play in a casino.

Soo much convenience i would say if we do tend to compare it into those traditional aspect or ways on how we would able to play without any hardship
in speaking with anonymity and decentralized.Yes, there are some part which are totally some cons but not really that much or more worst when dealing with a fiat casino.
The only con's i would say is in attaching yourself with the addiction on playing gambling and i dont see any issues about putting yourself known
that you've been doing gambling.Its none of their business on how you would be spending up your funds.

[TimeTeller]

Not to mention, Bitcoin being used on gambling sites is one of the many reasons that it flourished to what it is now. Of course there will be pros and cons on using bitcoin or other crypto on gambling sites, but I say it's on the individual to weigh that if it's convenient for them on using it or not. For me, I say it's more convenient but I try to limit it especially if it concerns my privacy.

Exactly, the adaption of bitcoin and other crypto being used as the main currency for gambling is one of the great thing why crypto is flourishing and prospering. Actually, other than security and anonymity of the users, there is no main pros for crypto gambling website differ in just a regular online casino. Anyways, the convenience it provides to us in the crypto industry to directly use our crypto to gamble is already to good for me.

When we interact and put our money inside an online gambling casino, that definitely already less secured and has less anonymity compared to when it was just on your wallet. I say the pros in it are just it's convenient for us to use directly and no need for middlemen just for us to be able to play in a casino.

Soo much convenience i would say if we do tend to compare it into those traditional aspect or ways on how we would able to play without any hardship
in speaking with anonymity and decentralized.Yes, there are some part which are totally some cons but not really that much or more worst when dealing with a fiat casino.
The only con's i would say is in attaching yourself with the addiction on playing gambling and i dont see any issues about putting yourself known
that you've been doing gambling.Its none of their business on how you would be spending up your funds.

There are always pros and cons, in both traditional and online crypto gambling.
And it depends on how you look at these 2, and how it will work to your advantage.
Because at the end of the day, the funds that you will spend is up to you.
But on my end, I found crypto gambling as a very convenient place for me to handle my gambling activities.
So the pros and cons of bitcoin gambling as compared to traditional fiat casinos depend on the gambler himself.
Some will stick to fiat or traditional, because they are more comfy with it as they are used to this set-up.
But for most here in the forum, I believe, a lot are having their betting via online crypto casinos now.

[nurilham]

1. It is decentralized.

This can be one of the favorite reasons why people like Bitcoin for gambling. Moreover, if we are living in a country where gambling is fully prohibited. We can use Bitcoin to play in online gambling platforms that accepts BTC for payment. Right now, so far, we can find out many platforms that are accepting BTC.

Additionally, this is easy to use and it gives more chances to us to come with sending and recevingn Bitcoin for investment at once. Bitcoin is also easy to send, moroeve right now we can use some networks that wil ease us to have lower fee transaction.

[Sirait]

Exactly, the adaption of bitcoin and other crypto being used as the main currency for gambling is one of the great thing why crypto is flourishing and prospering. Actually, other than security and anonymity of the users, there is no main pros for crypto gambling website differ in just a regular online casino. Anyways, the convenience it provides to us in the crypto industry to directly use our crypto to gamble is already to good for me.

When we interact and put our money inside an online gambling casino, that definitely already less secured and has less anonymity compared to when it was just on your wallet. I say the pros in it are just it's convenient for us to use directly and no need for middlemen just for us to be able to play in a casino.

crypto/bitcoin casino is the best gambling place for those who keep their anonymity. much different if you go to a traditional casino or play in a fiat-based online casino. nowadays there are many crypto casinos that do not require KYC, which is a big advantage for gamblers nowadays.

[ipanks]

snip

With the existence of many bitcoin gambling sites, we can choose which one we prefer and use it as a place to play gambling. And for the countries each casino allows, we can see it in the Help section of the casino and if we don't find it, we can ask customer support.

With a decentralized and centralized system, we can choose which one can give us comfort so that we can play gambling without any problems later.

[Fundamentals Of]

One of the cons of Bitcoin gambling is that whenever the market is really bearish and the price of Bitcoin is dipping far too low, you would be forced to increase the size of your bet in order to reach your USD betting amount. That's such a waste of Bitcoin for me. My $100 bet in Bitcoin when the price is $20,000 is much much higher than when the price is $50,000. This may not necessarily be a con against Bitcoin betting for some but for me it is.

[rodskee]

 Nowadays, there are a lot Bitcoin gamblers who are hoping to earn big in a short period of time. But the majority of the community are not aware and don't have any idea regarding about the advantages and disadvantages of this industry. That is why I'd like to discuss this matter to show what I had discovered in the Bitcoin gambling.

But let me pause you on this part , because the gambler that seeks easy win are those gambler that usually losses their funds badly .
never seek for fast income mate , this is gambling that has more applicable to not expecting winning instead try to find the happiness and enjoyment when playing .
so yeah it is advantageous to play using bitcoin but the Idea ? it is still gambling and none are permanent and constant .

[ethereumhunter]

 Nowadays, there are a lot Bitcoin gamblers who are hoping to earn big in a short period of time. But the majority of the community are not aware and don't have any idea regarding about the advantages and disadvantages of this industry. That is why I'd like to discuss this matter to show what I had discovered in the Bitcoin gambling.

But let me pause you on this part , because the gambler that seeks easy win are those gambler that usually losses their funds badly .
never seek for fast income mate , this is gambling that has more applicable to not expecting winning instead try to find the happiness and enjoyment when playing .
so yeah it is advantageous to play using bitcoin but the Idea ? it is still gambling and none are permanent and constant .

Gamblers who only want to find victory will not get it easily because of the luck factor that cannot come whenever he wants. Gambling is not a quick way to make money but a quick way to lose so never try to gamble if you are not ready to lose. The public does not understand this, so they continue to try to gamble because of the many temptations to continue gambling. If they could have realized this, they certainly wouldn't have tried to gamble longer and wouldn't have used more money.

[rahmad2nd]

Gambling is not good if one focuses on earning.  Likewise with crypto trading if someone does not have full knowledge and awareness of every risk that lurks it will be fatal.  but some of the points you listed I agree.  in the case of gambling, especially those involving bitcoin or crypto, use it as fun just to relieve your fatigue from running.  we realize that we need entertainment after work activities, one of which can be playing gambling.  but remember just for fun nothing more

[btc78]

Gambling is not good if one focuses on earning.  Likewise with crypto trading if someone does not have full knowledge and awareness of every risk that lurks it will be fatal.  but some of the points you listed I agree.  in the case of gambling, especially those involving bitcoin or crypto, use it as fun just to relieve your fatigue from running.  we realize that we need entertainment after work activities, one of which can be playing gambling.  but remember just for fun nothing more

actually if we want to gamble then expect losses instead of winning and that is the sad reality, Only those new gambler or those professional that will not agree on this, but for us who are  occasional gamblers only?
we tend to admit that wins only comes once in a blue moon , but it is the reality here and admit it or not? gambling is design to take our money and not for us to take theirs .

[xSkylarx]

gambling is design to take our money and not for us to take theirs .

That is how the business itself works. Gambling was made solely for entertainment, It's just us that take it to another level because there is a possibility to earn from it and if lucky, can change our whole life. Gambling is a game of luck so there is no guarantee that you will earn from it as often as you want. Gamblers should put aside the money when they are gambling, they should just do it for fun and avoid chasing losses. Addiction related cases will be much lesser if gamblers' mindset will be like that.

[rhomelmabini]

Not to mention, Bitcoin being used on gambling sites is one of the many reasons that it flourished to what it is now. Of course there will be pros and cons on using bitcoin or other crypto on gambling sites, but I say it's on the individual to weigh that if it's convenient for them on using it or not. For me, I say it's more convenient but I try to limit it especially if it concerns my privacy.

Exactly, the adaption of bitcoin and other crypto being used as the main currency for gambling is one of the great thing why crypto is flourishing and prospering. Actually, other than security and anonymity of the users, there is no main pros for crypto gambling website differ in just a regular online casino. Anyways, the convenience it provides to us in the crypto industry to directly use our crypto to gamble is already to good for me.

When we interact and put our money inside an online gambling casino, that definitely already less secured and has less anonymity compared to when it was just on your wallet. I say the pros in it are just it's convenient for us to use directly and no need for middlemen just for us to be able to play in a casino.

Soo much convenience i would say if we do tend to compare it into those traditional aspect or ways on how we would able to play without any hardship
in speaking with anonymity and decentralized.Yes, there are some part which are totally some cons but not really that much or more worst when dealing with a fiat casino.
The only con's i would say is in attaching yourself with the addiction on playing gambling and i dont see any issues about putting yourself known
that you've been doing gambling.Its none of their business on how you would be spending up your funds.

There are always pros and cons, in both traditional and online crypto gambling.
And it depends on how you look at these 2, and how it will work to your advantage.
Because at the end of the day, the funds that you will spend is up to you.
But on my end, I found crypto gambling as a very convenient place for me to handle my gambling activities.
So the pros and cons of bitcoin gambling as compared to traditional fiat casinos depend on the gambler himself.
Some will stick to fiat or traditional, because they are more comfy with it as they are used to this set-up.
But for most here in the forum, I believe, a lot are having their betting via online crypto casinos now.

I tend to agree on that considering this is a crypto focused forum and most gamblers here would definitely on that. We don't know if there are users in this forum that are more comfortable on traditional gambling if they do, but I definitely won't agree if they are using crypto already in years yet prefers the traditional, just my opinion. Crypto was more convenient I say, you can even lay in bed while gambling or do other chores if you area multitasker.

[ChiBitCTy]

As others have pointed out you got a few things wrong here and one of the main things being that it’s not traceable which is just not true. I think the main advantage is that it does provide a level of privacy but it’s not fully private and it’s important to understand that.

[Wakate]

Bitcoin had made a great chances in the history of the gambling world. It changes the mindset of gamblers and makes it easier to gamble even in a foreign country without the need to exposing your identity to gambling site that could end up being hacked if anything goes wrong. Bitcoin has made our really identity unknown and increases the urge of gambling.
The decentralized gambling is more safe and better than the use of fiat. It makes gambling transactions more faster and reliable if the gambling platform has enough trust reputation.

[virasisog]

Bitcoin had made a great chances in the history of the gambling world. It changes the mindset of gamblers and makes it easier to gamble even in a foreign country without the need to exposing your identity to gambling site that could end up being hacked if anything goes wrong. Bitcoin has made our really identity unknown and increases the urge of gambling.
Decentralized gambling is safer and better than the use of fiat. It makes gambling transactions more faster and reliable if the gambling platform has enough trust reputation.

Security and privacy are the things that make Bitcoin gambling better than fiat gambling. In our generation these days where the government always track our assets, Bitcoin's decentralization saves us. It also provides the convenience that we want since we can bet and play whenever we want as long as gambling is legal in our country. There might be cons because of cryptocurrency's risks but Bitcoin still a safer choice compared to other form of gambling payment.

[wxa7115]

gambling is design to take our money and not for us to take theirs .

That is how the business itself works. Gambling was made solely for entertainment, It's just us that take it to another level because there is a possibility to earn from it and if lucky, can change our whole life. Gambling is a game of luck so there is no guarantee that you will earn from it as often as you want. Gamblers should put aside the money when they are gambling, they should just do it for fun and avoid chasing losses. Addiction related cases will be much lesser if gamblers' mindset will be like that.

True, the aim of casinos is very clear, they are just offering a way to pass some of our time and offer to us a way to get some excitement in our lives.

However there are some people that take this too far, whether because they want to experience that excitement over and over again or because they want to become profitable, they stop using gambling for its main purpose and that is when they get into trouble, as they are unable to separate their fantasies from the reality and they think they can accomplish their goals, even if it is something impossible to do.

[BITCOIN4X]

I tend to agree on that considering this is a crypto focused forum and most gamblers here would definitely on that. We don't know if there are users in this forum that are more comfortable on traditional gambling if they do, but I definitely won't agree if they are using crypto already in years yet prefers the traditional, just my opinion. Crypto was more convenient I say, you can even lay in bed while gambling or do other chores if you area multitasker.

The case may be different for countries where gambling is legal. There are some of them who might tend to prefer the atmosphere of a physical casino to an online casino, but if they want to take good care of their privacy, then crypto gambling is a great option for them. It is much more likely for anyone whose gambling status is illegal to try crypto gambling as it is the safest way to do it regardless of KYC, it is a good option to consider.

[ipanks]

snip

snip

I believe that the choice of a casino will depend on the comfort factor of a person in playing gambling, even if the country legalizes or does not legalize gambling. As long as he feels comfortable playing gambling, he will continue to play gambling and the currency he will use will also depend on the comfort factor he wants. Maybe he used fiat more at first, but as technology developed and cryptocurrency became more popular, he switched to using cryptocurrency and left fiat to gamble.

[wxa7115]

I tend to agree on that considering this is a crypto focused forum and most gamblers here would definitely on that. We don't know if there are users in this forum that are more comfortable on traditional gambling if they do, but I definitely won't agree if they are using crypto already in years yet prefers the traditional, just my opinion. Crypto was more convenient I say, you can even lay in bed while gambling or do other chores if you area multitasker.

The case may be different for countries where gambling is legal. There are some of them who might tend to prefer the atmosphere of a physical casino to an online casino, but if they want to take good care of their privacy, then crypto gambling is a great option for them. It is much more likely for anyone whose gambling status is illegal to try crypto gambling as it is the safest way to do it regardless of KYC, it is a good option to consider.

We must also take into account that things have changed due to the pandemic and the habits of the average person have changed as well, before the pandemic I did in fact like to gamble once in a while at physical casinos but since the pandemic started I have yet to step into a casino again.

And what happens is that things that did not bother me before do in fact bother me now, for example at physical casinos the minimum bet is very high while at cryptocurrency casinos the minimum bet is incredibly low, to the point that even if you were to play the same amount of time in both casinos the amount of money you will spend at an online casino will be many times lower.

[LUCKMCFLY]

I tend to agree on that considering this is a crypto focused forum and most gamblers here would definitely on that. We don't know if there are users in this forum that are more comfortable on traditional gambling if they do, but I definitely won't agree if they are using crypto already in years yet prefers the traditional, just my opinion. Crypto was more convenient I say, you can even lay in bed while gambling or do other chores if you area multitasker.

The case may be different for countries where gambling is legal. There are some of them who might tend to prefer the atmosphere of a physical casino to an online casino, but if they want to take good care of their privacy, then crypto gambling is a great option for them. It is much more likely for anyone whose gambling status is illegal to try crypto gambling as it is the safest way to do it regardless of KYC, it is a good option to consider.

Yes, in fact I know some friends who used to be very good at going to the physical casino to play, because he specifically did not mind leaving all his salary there, I remember that when I met him he bet a lot of money on few things, in roulette he bet too much and most of the time he lost, but when he learned about online games and crypto casinos, he played but for him it was not the same emotion, he was more like being in a casino where they gave him drinks, he saw women and apart from that he played, for him That was more important, he resorted to crypto casinos because in my country it lasted almost 20 years with prohibited casinos, and that is why he took that option of the crypto casino.

[Spack17]

The biggest advantage of gambling with Bitcoin is that it is private and tax free. The government cannot benefit from your money. However, the biggest disadvantage is; its value is constantly changing. You must calculate the amount you use according to at least 3% variability. Otherwise, you may lose a little while trying to make a profit.

[gunhell16]

Yes, in fact I know some friends who used to be very good at going to the physical casino to play, because he specifically did not mind leaving all his salary there, I remember that when I met him he bet a lot of money on few things, in roulette he bet too much and most of the time he lost, but when he learned about online games and crypto casinos, he played but for him it was not the same emotion, he was more like being in a casino where they gave him drinks, he saw women and apart from that he played, for him That was more important, he resorted to crypto casinos because in my country it lasted almost 20 years with prohibited casinos, and that is why he took that option of the crypto casino.

Perhaps, the friend you are talking about is that this gambling for him was one of His vices, isn't? according to you, He gambled too much
in accordance to my understanding. Maybe for Him gamble is a one of his advantage to earn here in easiest way or it could be that He rely on luck also.
And as far as I can see to your friend too that He is a risk taker as an individual gambler here in the cryptocurrency.

As others have pointed out you got a few things wrong here and one of the main things being that it’s not traceable which is just not true. I think the main advantage is that it does provide a level of privacy but it’s not fully private and it’s important to understand that.

Isn't that Bitcoin was pseudonymous that is why its traceable? Can clarify here specifically in which for you is not
true that it is traceable? thanks Sir...

[Zilon]

The biggest advantage of gambling with Bitcoin is that it is private and tax free. The government cannot benefit from your money. However, the biggest disadvantage is; its value is constantly changing. You must calculate the amount you use according to at least 3% variability. Otherwise, you may lose a little while trying to make a profit.

If the government can't benefit through taxes then how do we intend generating revenues for development. This is the reason the government keeps fighting hard to either ban or regulate this crypto currencies so they don't get completely sidelined in our transactions.

The volatility could work either ways it could be bullish or bearish meaning it could be an advantage or disadvantage depending on  the price as at when the deposit was made and when the withdrawn winning is made.

[Maslate]

It's not private anymore if a casino will require us to comply with the KYC.

Though there are still a lot of casinos that really offer anonymous gambling, the moment they get a license, it's just like they are turning into a fiat casino because they are already regulated, hence gamblers have to comply with the regulation.

It's only private if it's a "real decentralized" system that we are using, unfortunately, it does not work that way becuase bitcoin is only a payment method and we still follow the typical type of gambling.

[tn211]

It's not private anymore if a casino will require us to comply with the KYC.

Though there are still a lot of casinos that really offer anonymous gambling, the moment they get a license, it's just like they are turning into a fiat casino because they are already regulated, hence gamblers have to comply with the regulation.

It's only private if it's a "real decentralized" system that we are using, unfortunately, it does not work that way becuase bitcoin is only a payment method and we still follow the typical type of gambling.

KYC is the standard. Apart if this is good, I avoid small casino's etc. Had a bad experience in the past hence i i only gamble, for fun, with the big boys.
Just make sure to follow the book when you win, governments are not too fond of crypto, nor will they of you when you try to bypass the law.. And yes casino's have to cooperate...

[Plaguedeath]

The biggest advantage of gambling with Bitcoin is that it is private and tax free. The government cannot benefit from your money. However, the biggest disadvantage is; its value is constantly changing. You must calculate the amount you use according to at least 3% variability. Otherwise, you may lose a little while trying to make a profit.

It's no longer private when you have created an account with your real IP address and moreover you had giving your KYC.
It's no longer tax free when the government cooperate with the casino.
The volatility is the advantages why many people invest on Bitcoin, if you hate volatility then crypto space isn't for you.

[madnessteat]

^

Bitcoin is bought not because of volatility but because it is a deflationary asset with limited issuance.

No one is forcing you to reveal your IP address or go through KYC. You do it on your own, as there are still casinos that do not require users to provide personal information.

If you use Bitcoin wisely you can remain completely anonymous when you gamble.

[Peanutswar]

The biggest advantage of gambling with Bitcoin is that it is private and tax free. The government cannot benefit from your money. However, the biggest disadvantage is; its value is constantly changing. You must calculate the amount you use according to at least 3% variability. Otherwise, you may lose a little while trying to make a profit.

If the government can't benefit through taxes then how do we intend generating revenues for development. This is the reason the government keeps fighting hard to either ban or regulate this crypto currencies so they don't get completely sidelined in our transactions.

The volatility could work either ways it could be bullish or bearish meaning it could be an advantage or disadvantage depending on  the price as at when the deposit was made and when the withdrawn winning is made.

There are a lot of countries that their government want to push having taxes but if the country does not have enough support at the same time knowing of how the cryptocurrency work they cant make a petition with it. In my country they want to push with this but some of the people defended that they cant do this because it is volatile at the same time.

[aioc]

Bitcoin had made a great chances in the history of the gambling world. It changes the mindset of gamblers and makes it easier to gamble even in a foreign country without the need to exposing your identity to gambling site that could end up being hacked if anything goes wrong. Bitcoin has made our really identity unknown and increases the urge of gambling.
The decentralized gambling is more safe and better than the use of fiat. It makes gambling transactions more faster and reliable if the gambling platform has enough trust reputation.

This is why we have a lot of Cryptocurrency based casinos than fiat casinos and many more coming because this is the future of online gambling, it serves the needs of the gamblers, decentralized, anonymous, and protected, in the past gamblers are very much concerned on how they gamble because they are exposed and like what you said there are many options to deposit and there are no questions on deposit and withdrawal because it's relying on blockchain where transactions are transparent.

[dataispower]

The whole post is a copy-paste from the source, OP is breaking one of the forum rules, he should just copy and quote an excerpt from the article and create his own unique thread, this could be flagged down, I'm surprised that OP has a senior rank we can excuse this if it's coming from a newbie but not good if it's coming from a senior member, OP should know better.

if you have noticed that, don't hesitate to report with a good evidence which is the source from that link or from the site where all these are being done for plagiarism checker out board. this is one the condition of the forum but anyone that violated the law the first penalty of ban not to have access to the community if you really it is what op done, it is a just a simple matter which can shut down it's account anytime. Paraphrase is guilty of the law

[wxa7115]

The biggest advantage of gambling with Bitcoin is that it is private and tax free. The government cannot benefit from your money. However, the biggest disadvantage is; its value is constantly changing. You must calculate the amount you use according to at least 3% variability. Otherwise, you may lose a little while trying to make a profit.

While I agree that the volatility can be a pain when you gamble as you could have earned a lot of bitcoin during a session only to find out that you lost in terms of fiat when the market crashed, this is something in which we had years to learn how to handle.

Personally when that happens I think about it in the same way I think about my bitcoin investment, maybe its fiat value is down but in the future it will go up, besides we are gambling with satoshis and not with fiat so as long as I got more bitcoin in my wallet I think of it as a win.

[goaldigger]

The whole post is a copy-paste from the source, OP is breaking one of the forum rules, he should just copy and quote an excerpt from the article and create his own unique thread, this could be flagged down, I'm surprised that OP has a senior rank we can excuse this if it's coming from a newbie but not good if it's coming from a senior member, OP should know better.

if you have noticed that, don't hesitate to report with a good evidence which is the source from that link or from the site where all these are being done for plagiarism checker out board. this is one the condition of the forum but anyone that violated the law the first penalty of ban not to have access to the community if you really it is what op done, it is a just a simple matter which can shut down it's account anytime. Paraphrase is guilty of the law

He gives the source link and summarize it to give the highlights of the topic, I don’t think its plagiarism since he acknowledge the real source. Well, its up to them if its qualified for plagiarism and going back to the topic, using Bitcoin really have its own pros and cons especially now that Bitcoin is being considered as one of the best investment, and very few are spending their Bitcoin on its real usage. I do gamble sometimes with Bitcoin, and I understand that I’m losing more because of its volatility.

[DoublerHunter]

The biggest advantage of gambling with Bitcoin is that it is private and tax free. The government cannot benefit from your money. However, the biggest disadvantage is; its value is constantly changing. You must calculate the amount you use according to at least 3% variability. Otherwise, you may lose a little while trying to make a profit.

While I agree that the volatility can be a pain when you gamble as you could have earned a lot of bitcoin during a session only to find out that you lost in terms of fiat when the market crashed, this is something in which we had years to learn how to handle.

Personally when that happens I think about it in the same way I think about my bitcoin investment, maybe its fiat value is down but in the future it will go up, besides we are gambling with satoshis and not with fiat so as long as I got more bitcoin in my wallet I think of it as a win.

^ On this perception, you are not a gambler, you are a holder because you care about the value of BTC.
A gambler will not care about a value when it will drop or up, if they gamble in crypto after they purchase, they gamble it directly to the gambling casino that they like to gamble there is no loss of the value because you are purchasing at a lower price and in gambling casino if you will bet 1 BTC you will win 1 BTC even if the price has drastically down. Volatility is nothing if you are a gambler, but if you care on it you are a holder.

[Google+]

^ On this perception, you are not a gambler, you are a holder because you care about the value of BTC.
A gambler will not care about a value when it will drop or up, if they gamble in crypto after they purchase, they gamble it directly to the gambling casino that they like to gamble there is no loss of the value because you are purchasing at a lower price and in gambling casino if you will bet 1 BTC you will win 1 BTC even if the price has drastically down. Volatility is nothing if you are a gambler, but if you care on it you are a holder.

Agree with you. there is no worry for gambling addicts when the price of bitcoin falls or when bitcoin goes up, of course they will bet and bet as usual. and I experienced this myself because I play gambling only with Doge crypto currency, I don't care if the Doge goes up or down when I want to play gambling I always buy Doge and make bets. maybe in this context only newbies in crypto gambling will have a problem with this because they see the estimated value of the asset falling since the market crash and measure Btc to fiat.

[livingfree]

The cons of bitcoin being volatile is its nature. It's the same for other supported altcoins of a casino except the stable coins. But bitcoin gambling has been the standard of crypto casinos.

It's where it all started until some casinos have been built on different chains as dapps, smart contracts and other of the same stuff. Yet, it never gets unpopular if it's about bitcoin gambling.

We're on it, and some bitcoin casinos that don't accept other altcoins except bitcoin only and fiat deposits/withdrawals.

[Cling18]

^ On this perception, you are not a gambler, you are a holder because you care about the value of BTC.
A gambler will not care about a value when it will drop or up, if they gamble in crypto after they purchase, they gamble it directly to the gambling casino that they like to gamble there is no loss of the value because you are purchasing at a lower price and in gambling casino if you will bet 1 BTC you will win 1 BTC even if the price has drastically down. Volatility is nothing if you are a gambler, but if you care on it you are a holder.

Agree with you. there is no worry for gambling addicts when the price of bitcoin falls or when bitcoin goes up, of course they will bet and bet as usual. and I experienced this myself because I play gambling only with Doge crypto currency, I don't care if the Doge goes up or down when I want to play gambling I always buy Doge and make bets. maybe in this context only newbies in crypto gambling will have a problem with this because they see the estimated value of the asset falling since the market crash and measure Btc to fiat.

Yes, the value of cryptocurrency won't affect you if you're an old-time gambler because you already know how to deal with it. Old gamblers focus on playing and not on the volatility of cryptocurrencies unlike traders and investors because we focus on winning here regardless of the current market situation.

[Lanatsa]

^ On this perception, you are not a gambler, you are a holder because you care about the value of BTC.
A gambler will not care about a value when it will drop or up, if they gamble in crypto after they purchase, they gamble it directly to the gambling casino that they like to gamble there is no loss of the value because you are purchasing at a lower price and in gambling casino if you will bet 1 BTC you will win 1 BTC even if the price has drastically down. Volatility is nothing if you are a gambler, but if you care on it you are a holder.

Agree with you. there is no worry for gambling addicts when the price of bitcoin falls or when bitcoin goes up, of course they will bet and bet as usual. and I experienced this myself because I play gambling only with Doge crypto currency, I don't care if the Doge goes up or down when I want to play gambling I always buy Doge and make bets. maybe in this context only newbies in crypto gambling will have a problem with this because they see the estimated value of the asset falling since the market crash and measure Btc to fiat.

When you do gamble then you wont really be mattering or minding that much about investment or on the coin that you've been using in terms of its volatility since you would be always be thinking or minding about on fiat

value which does simply means that whatever the market condition would be then you wont really care about the price as long you do love to play gambling then this is what you would really be thinking on.

Pros and cons would be typically be talking about gambling addiction and financial problems and into its pros then it would be a huge winning and leisure you do seek off.
Its just common sense but there are people who do go beyond borders and would really be ending up on the wrong path.

[terrorJR]

Yes, the value of cryptocurrency won't affect you if you're an old-time gambler because you already know how to deal with it. Old gamblers focus on playing and not on the volatility of cryptocurrencies unlike traders and investors because we focus on winning here regardless of the current market situation.

True, this will not affect if it is just a gambler but if you look at what is happening here most of those who gamble apart from being gamblers they are also traders or crypto investors which when something like this is happening now indirectly this will become Thought for them not all are like that but for the most part it will probably do.

[ultrloa]

^ On this perception, you are not a gambler, you are a holder because you care about the value of BTC.
A gambler will not care about a value when it will drop or up, if they gamble in crypto after they purchase, they gamble it directly to the gambling casino that they like to gamble there is no loss of the value because you are purchasing at a lower price and in gambling casino if you will bet 1 BTC you will win 1 BTC even if the price has drastically down. Volatility is nothing if you are a gambler, but if you care on it you are a holder.

Agree with you. there is no worry for gambling addicts when the price of bitcoin falls or when bitcoin goes up, of course they will bet and bet as usual. and I experienced this myself because I play gambling only with Doge crypto currency, I don't care if the Doge goes up or down when I want to play gambling I always buy Doge and make bets. maybe in this context only newbies in crypto gambling will have a problem with this because they see the estimated value of the asset falling since the market crash and measure Btc to fiat.

Yes, the value of cryptocurrency won't affect you if you're an old-time gambler because you already know how to deal with it. Old gamblers focus on playing and not on the volatility of cryptocurrencies unlike traders and investors because we focus on winning here regardless of the current market situation.

But sometimes the phase will be different if you start to cashout your money on gambling site. For sure this crash affect even if your old timer because you will possibly look at the value especially when you bought yours at expensive rate. But if you mean upon gaming surely gamblers will ignore that because what mostly gamblers aim is to enjoy and try to win their games.

[TimeTeller]

Yes, the value of cryptocurrency won't affect you if you're an old-time gambler because you already know how to deal with it. Old gamblers focus on playing and not on the volatility of cryptocurrencies unlike traders and investors because we focus on winning here regardless of the current market situation.

True, this will not affect if it is just a gambler but if you look at what is happening here most of those who gamble apart from being gamblers they are also traders or crypto investors which when something like this is happening now indirectly this will become Thought for them not all are like that but for the most part it will probably do.

Generally speaking, gamblers will always gamble no matter what the market situation is.
They may reduce their spending habits but they will continue to play.
For those who are also traders, they will know what alts to use in order to lessen their losses.
But for the most part of it, gamblers won't stop just because the value of bitcoin declines in the market.

[Zackgeno96]

I also think that gamblers continue to gamble. Most people who gamble now must have also gambled on regular gambling sites, which do not offer crypto. You see more and more that casinos are switching to crypto payments. But then the anonymity of the crypto disappears a bit, because large sites that have been in the business for a long time will start with the KYC. You have to weigh the advantages against the disadvantages. I think there are more pros than cons. But if you're against the kyc, that's a big disadvantage of course

[goinmerry]

But sometimes the phase will be different if you start to cashout your money on gambling site. For sure this crash affect even if your old timer because you will possibly look at the value especially when you bought yours at expensive rate. But if you mean upon gaming surely gamblers will ignore that because what mostly gamblers aim is to enjoy and try to win their games.

That's a different story now since that person badly needs to cash out.

Price volatility has nothing to do with that as we are the one who needs to adjust.

For me, bitcoin being crashed or not won't impact those gamblers since I think that's even an advantage to them as they will have more Bitcoin in return if they will purchase it by cash. Since they are playing with Bitcoin currency on the gambling site, it means more bankroll to them that they can use in the long run.

When it comes to cashing out, if it was really necessary to do, whether the trend is uptrend or downtrend, these guys will convert their Bitcoin to whatever price.

[Distinctin]

Yes, the value of cryptocurrency won't affect you if you're an old-time gambler because you already know how to deal with it. Old gamblers focus on playing and not on the volatility of cryptocurrencies unlike traders and investors because we focus on winning here regardless of the current market situation.

True, this will not affect if it is just a gambler but if you look at what is happening here most of those who gamble apart from being gamblers they are also traders or crypto investors which when something like this is happening now indirectly this will become Thought for them not all are like that but for the most part it will probably do.

Generally speaking, gamblers will always gamble no matter what the market situation is.
They may reduce their spending habits but they will continue to play.
For those who are also traders, they will know what alts to use in order to lessen their losses.
But for the most part of it, gamblers won't stop just because the value of bitcoin declines in the market.

Certainly, no doubt about that. Gamblers will still have time and ways to gamble despite what's happening in the market. It's the trader who's likely affected if there are some troubling situations in the market but gamblers? I don't think so, they will always adjust and I think we somehow know about that too as part of us here as also bettors classified as gamblers.

[terrorJR]

True, this will not affect if it is just a gambler but if you look at what is happening here most of those who gamble apart from being gamblers they are also traders or crypto investors which when something like this is happening now indirectly this will become Thought for them not all are like that but for the most part it will probably do.

Generally speaking, gamblers will always gamble no matter what the market situation is.
They may reduce their spending habits but they will continue to play.
For those who are also traders, they will know what alts to use in order to lessen their losses.
But for the most part of it, gamblers won't stop just because the value of bitcoin declines in the market.

To stop maybe not because it is difficult to break the habit of gambling and I also feel that way, but there are indeed some things that are reduced or minimized in this case so that there are limits there. At least it's like that for me. because it is quite difficult to break the habit of gambling but on the other hand we are also faced with difficult situations so there must be a middle point there.

[ralle14]

For me, bitcoin being crashed or not won't impact those gamblers since I think that's even an advantage to them as they will have more Bitcoin in return if they will purchase it by cash. Since they are playing with Bitcoin currency on the gambling site, it means more bankroll to them that they can use in the long run.

When it comes to cashing out, if it was really necessary to do, whether the trend is uptrend or downtrend, these guys will convert their Bitcoin to whatever price.

Those are only for the gamblers that just came in after the dump but it's still a disadvantage for those who are playing before the dump came in because like you've said some of them will cash out when they really need the money.

But then the anonymity of the crypto disappears a bit, because large sites that have been in the business for a long time will start with the KYC. You have to weigh the advantages against the disadvantages.

From my experience with casinos that slowly introduce KYC, it still varies though most of them would only be optional then there are others that require a bit of KYC like Roobet.

[Viscore]

gambling is design to take our money and not for us to take theirs .

That is how the business itself works. Gambling was made solely for entertainment, It's just us that take it to another level because there is a possibility to earn from it and if lucky, can change our whole life. Gambling is a game of luck so there is no guarantee that you will earn from it as often as you want. Gamblers should put aside the money when they are gambling, they should just do it for fun and avoid chasing losses. Addiction related cases will be much lesser if gamblers' mindset will be like that.

But gamblers are greedy in nature and so it's hard for them not to chase their luck if they feel lucky, or not to run after from their huge losses. That is why a lot of gamblers are losing because they never realized that the house has always its advantage, and so it should always win over the gamblers. If only gamblers are playing more on for pleasure, then we don't have to see gamblers losing all their possessions and then living in rekt.

[fiulpro]

- When it's taxed the tax reaches the sky !
- Bitcoin Gambling is frowned upon many countries but most of them are now trying to get more flexible with it and adapt at the same time I do think we would be able to see better options in the future.
- I do think the best option is : Gambling in Altcoins because the transaction fee is apparently very low but there are some casinos which are allowing fee withdrawals and etc therefore it would be nice as well

I do think that Bitcoins and other Altcoins provide an alternate platform which is not so focused on centralization and documents which is a big plus so you can have your private like different from the public one without having to get permissions from your banks ~

It is not about Greed, it's about entertainment.
Gambling *Addicts* are Greedy because they wish to make their money back which is also a normal human reaction so I won't say that.

[Tumanggor]

I also think that gamblers continue to gamble. Most people who gamble now must have also gambled on regular gambling sites, which do not offer crypto. You see more and more that casinos are switching to crypto payments. But then the anonymity of the crypto disappears a bit, because large sites that have been in the business for a long time will start with the KYC. You have to weigh the advantages against the disadvantages. I think there are more pros than cons. But if you're against the kyc, that's a big disadvantage of course

US regulatory agencies require KYC on exchange and gambling site users who wish to enter their territory, So there are many gambling sites that initially did not require KYC but had to follow the rules if they wanted to enter the US market

but out there there are still many crypto gambling sites that do not require their users to do KYC and maintain the anonymity of their users like gamdom

playing on crypto gambling sites has many conveniences (WD and deposits) than regular fiat gambling sites

[carlfebz2]

gambling is design to take our money and not for us to take theirs .

That is how the business itself works. Gambling was made solely for entertainment, It's just us that take it to another level because there is a possibility to earn from it and if lucky, can change our whole life. Gambling is a game of luck so there is no guarantee that you will earn from it as often as you want. Gamblers should put aside the money when they are gambling, they should just do it for fun and avoid chasing losses. Addiction related cases will be much lesser if gamblers' mindset will be like that.

But gamblers are greedy in nature and so it's hard for them not to chase their luck if they feel lucky, or not to run after from their huge losses. That is why a lot of gamblers are losing because they never realized that the house has always its advantage, and so it should always win over the gamblers. If only gamblers are playing more on for pleasure, then we don't have to see gamblers losing all their possessions and then living in rekt.

People does have different perceptions towards gambling and does have different reactions on gambling some do really play for entertainment and some do really play hardly to win but we know that house do always win.Cons would really be on addiction side and its pros will really be entertainment and for winning some profits but its not totally that a thing for someone to be mindful and make it as a dedication
for you to play even more.

Play on the amount that you can afford to lose.Dont chase losses and dont make yourself get addicted.This is the main key on making your life away or be able to avoid
unfortunate events and happenings on your life if you do know on how to control yourself.Dont make it as a source of income and dont ever beleive
that this is the fastest way on making yourself rich.

[noormcs5]

The biggest advantage of gambling with Bitcoin is that it is private and tax free. The government cannot benefit from your money. However, the biggest disadvantage is; its value is constantly changing. You must calculate the amount you use according to at least 3% variability. Otherwise, you may lose a little while trying to make a profit.

While I agree that the volatility can be a pain when you gamble as you could have earned a lot of bitcoin during a session only to find out that you lost in terms of fiat when the market crashed, this is something in which we had years to learn how to handle.

Personally when that happens I think about it in the same way I think about my bitcoin investment, maybe its fiat value is down but in the future it will go up, besides we are gambling with satoshis and not with fiat so as long as I got more bitcoin in my wallet I think of it as a win.

I don't mind if the bitcoin dumps as long as i am holding my winnings in bitcoin.
The main problem in gambling is that you have a lot of risk of losing your money. I have seen people invest their savings and hard earned money in bitcoins and later they lost all the money in gambling.
So its not mainly about your portfolio value in terms of dollars but also the risk involved in gambling is a big con for bitcoin gambling.

[ReiMomo]

The biggest advantage of gambling with Bitcoin is that it is private and tax free. The government cannot benefit from your money. However, the biggest disadvantage is; its value is constantly changing. You must calculate the amount you use according to at least 3% variability. Otherwise, you may lose a little while trying to make a profit.

While I agree that the volatility can be a pain when you gamble as you could have earned a lot of bitcoin during a session only to find out that you lost in terms of fiat when the market crashed, this is something in which we had years to learn how to handle.

Personally when that happens I think about it in the same way I think about my bitcoin investment, maybe its fiat value is down but in the future it will go up, besides we are gambling with satoshis and not with fiat so as long as I got more bitcoin in my wallet I think of it as a win.

I don't mind if the bitcoin dumps as long as i am holding my winnings in bitcoin.
The main problem in gambling is that you have a lot of risk of losing your money. I have seen people invest their savings and hard earned money in bitcoins and later they lost all the money in gambling.
So its not mainly about your portfolio value in terms of dollars but also the risk involved in gambling is a big con for bitcoin gambling.

I feel, when bitcoin is used for gambling then yes, trading and gambling dont differ much when it comes to earnings. As bitcoin / crypto market is volatile, as long as you hold the coin earned from gambling and trading, the benefits will be more. Yes, there will be pain when Bitcoin earned in bull market winning in gambling and later the value goes down at bearish market.   

[ultrloa]

But sometimes the phase will be different if you start to cashout your money on gambling site. For sure this crash affect even if your old timer because you will possibly look at the value especially when you bought yours at expensive rate. But if you mean upon gaming surely gamblers will ignore that because what mostly gamblers aim is to enjoy and try to win their games.

That's a different story now since that person badly needs to cash out.

Price volatility has nothing to do with that as we are the one who needs to adjust.

For me, bitcoin being crashed or not won't impact those gamblers since I think that's even an advantage to them as they will have more Bitcoin in return if they will purchase it by cash. Since they are playing with Bitcoin currency on the gambling site, it means more bankroll to them that they can use in the long run.

When it comes to cashing out, if it was really necessary to do, whether the trend is uptrend or downtrend, these guys will convert their Bitcoin to whatever price.

Each gambler have different personal view towards it and no right or even wrong answer with this but actually if you are a whale you will surely feel the pain of bear market condition because the value of your balances decrease a lot and for sure gambling whales feel the bear market to. But also many think that this is paper loss only and they will not lose any dime if they not sell their stash.

[n0ne]

But sometimes the phase will be different if you start to cashout your money on gambling site. For sure this crash affect even if your old timer because you will possibly look at the value especially when you bought yours at expensive rate. But if you mean upon gaming surely gamblers will ignore that because what mostly gamblers aim is to enjoy and try to win their games.

That's a different story now since that person badly needs to cash out.

Price volatility has nothing to do with that as we are the one who needs to adjust.

For me, bitcoin being crashed or not won't impact those gamblers since I think that's even an advantage to them as they will have more Bitcoin in return if they will purchase it by cash. Since they are playing with Bitcoin currency on the gambling site, it means more bankroll to them that they can use in the long run.

When it comes to cashing out, if it was really necessary to do, whether the trend is uptrend or downtrend, these guys will convert their Bitcoin to whatever price.

Each gambler have different personal view towards it and no right or even wrong answer with this but actually if you are a whale you will surely feel the pain of bear market condition because the value of your balances decrease a lot and for sure gambling whales feel the bear market to. But also many think that this is paper loss only and they will not lose any dime if they not sell their stash.

Whales always spend in terms of bitcoin than in terms of USD. Whether the market is bullish or bearish doesn't count, if he spends 0.1BTC in gambling when the price is $40k same will be spend when the price is $20k. So, here if we calculate in terms of USD what he risked and what he earned/lost might vary. Most of the whale gamblers were hodlers, so this profits them long term.

[Google+]

Each gambler have different personal view towards it and no right or even wrong answer with this but actually if you are a whale you will surely feel the pain of bear market condition because the value of your balances decrease a lot and for sure gambling whales feel the bear market to. But also many think that this is paper loss only and they will not lose any dime if they not sell their stash.

Everyone has different thoughts and has different judgments in today's market conditions. but in gambling there is always 1+1 is 2 isn't this what happens in gambling games meaning they only bet and get the win no matter what the current market price is. maybe 80% of gamblers are not holders because when they get a win of course they will switch to fiat. so market conditions don't affect crypto gambling players at all because price volatility is not a big problem for active gamblers.

[TopT3ns]

Each gambler have different personal view towards it and no right or even wrong answer with this but actually if you are a whale you will surely feel the pain of bear market condition because the value of your balances decrease a lot and for sure gambling whales feel the bear market to. But also many think that this is paper loss only and they will not lose any dime if they not sell their stash.

Everyone has different thoughts and has different judgments in today's market conditions. but in gambling there is always 1+1 is 2 isn't this what happens in gambling games meaning they only bet and get the win no matter what the current market price is. maybe 80% of gamblers are not holders because when they get a win of course they will switch to fiat. so market conditions don't affect crypto gambling players at all because price volatility is not a big problem for active gamblers.

I don't think gamblers can't have an influence on cryptocurrency price movements but rather they can't, because in gambling places there are many choices of what coin they want to use if they want to gamble, I think they prefer to use altcoins because the exchange rate is still very cheap, it doesn't make Gamblers feel lost when they lose.

[Distinctin]

The biggest advantage of gambling with Bitcoin is that it is private and tax free. The government cannot benefit from your money. However, the biggest disadvantage is; its value is constantly changing. You must calculate the amount you use according to at least 3% variability. Otherwise, you may lose a little while trying to make a profit.

While I agree that the volatility can be a pain when you gamble as you could have earned a lot of bitcoin during a session only to find out that you lost in terms of fiat when the market crashed, this is something in which we had years to learn how to handle.

Personally when that happens I think about it in the same way I think about my bitcoin investment, maybe its fiat value is down but in the future it will go up, besides we are gambling with satoshis and not with fiat so as long as I got more bitcoin in my wallet I think of it as a win.

I don't mind if the bitcoin dumps as long as i am holding my winnings in bitcoin.
The main problem in gambling is that you have a lot of risk of losing your money. I have seen people invest their savings and hard earned money in bitcoins and later they lost all the money in gambling.
So its not mainly about your portfolio value in terms of dollars but also the risk involved in gambling is a big con for bitcoin gambling.

I feel, when bitcoin is used for gambling then yes, trading and gambling dont differ much when it comes to earnings. As bitcoin / crypto market is volatile, as long as you hold the coin earned from gambling and trading, the benefits will be more. Yes, there will be pain when Bitcoin earned in bull market winning in gambling and later the value goes down at bearish market.   

Yup, you're right about that. That would surely hurt us if our winnings will depreciate sometime later when the market suddenly turns bearish. We can't really do something about it as we already know that the market is volatile so its movement is really unpredictable at all, yes, we can speculate before making a move but that's not a guarantee. But, gambler will still find way even the market situation's not good.

[mirakal]

Each gambler have different personal view towards it and no right or even wrong answer with this but actually if you are a whale you will surely feel the pain of bear market condition because the value of your balances decrease a lot and for sure gambling whales feel the bear market to. But also many think that this is paper loss only and they will not lose any dime if they not sell their stash.

Everyone has different thoughts and has different judgments in today's market conditions. but in gambling there is always 1+1 is 2 isn't this what happens in gambling games meaning they only bet and get the win no matter what the current market price is. maybe 80% of gamblers are not holders because when they get a win of course they will switch to fiat. so market conditions don't affect crypto gambling players at all because price volatility is not a big problem for active gamblers.

I don't think gamblers can't have an influence on cryptocurrency price movements but rather they can't, because in gambling places there are many choices of what coin they want to use if they want to gamble, I think they prefer to use altcoins because the exchange rate is still very cheap, it doesn't make Gamblers feel lost when they lose.

Exactly! As a gambler, we will surely want to choose a coin that is much cheaper and its volatility wouldn't surely hurt us that much if it will suddenly inclines or declines, and surely wouldn't mind thinking if they could influence such coin movement. I believe that on average gamblers are not using bitcoins upon betting in their favorite sports book or casino game.

[darkangel11]

For me the biggest pro and con of bitcoin gambling is the same thing: its high value and high price appreciation. Bitcoin is constantly going up in value if you look at the lows over a 2-3 year period so it';s the best coin for saving money and holding for the long run. If you gamble it away and it gains value next year you're going to feel the hurt. The same thing is also a positive feature because if you can win some and hold it you're going to be very happy after the next halving.

If you know what you're doing and usually win, bet whatever you like. If not, choose a cheap altcoin especially one of those that you can get for free

[RealMalatesta]

As a gambler, we will surely want to choose a coin that is much cheaper and its volatility wouldn't surely hurt us that much if it will suddenly inclines or declines, and surely wouldn't mind thinking if they could influence such coin movement. I believe that on average gamblers are not using bitcoins upon betting in their favorite sports book or casino game.

This is why people preferred doge before all of this Elon stuff happened. We loved Doge for the fact that it was cheap, fast, and usually not volatile. It was accepted in most casinos, and it was like a joke money where you throw in 5k of it, 10k of it whatever, if you are rich enough then millions.

This is why it was such a good thing and now because of Elon Musk it became something that is a bit more volatile and because of that it became a bit more problematic. Of course there are still some coins which are low in price and you could send them with little cost, but they became not so great because of all the volatility in the market these days hence why not used.

[Sarah Azhari]

Exactly! As a gambler, we will surely want to choose a coin that is much cheaper and its volatility wouldn't surely hurt us that much if it will suddenly inclines or declines, and surely wouldn't mind thinking if they could influence such coin movement. I believe that on average gamblers are not using bitcoins upon betting in their favorite sports book or casino game.

because of cheap, we can buy doge with not lot of money, we can buy doge with only $1 in the pocket and transfer it to gambling site with low fee and multiple it 100x, I did it past.

[Boristhecat]

This is why people preferred doge before all of this Elon stuff happened. We loved Doge for the fact that it was cheap, fast, and usually not volatile. It was accepted in most casinos, and it was like a joke money where you throw in 5k of it, 10k of it whatever, if you are rich enough then millions.

This is why it was such a good thing and now because of Elon Musk it became something that is a bit more volatile and because of that it became a bit more problematic. Of course there are still some coins which are low in price and you could send them with little cost, but they became not so great because of all the volatility in the market these days hence why not used.

For this reason, casinos initially came up with chips - it is psychologically easier for a person to part with a chip than with a bill of real money. Now it's time for cryptocurrencies and, above all, bitcoin - a significant part of the players perceive it as real money and a great opportunity in the future, so they use either altcoins or stablecoins.

[_act_]

I don't mind if the bitcoin dumps as long as i am holding my winnings in bitcoin.
The main problem in gambling is that you have a lot of risk of losing your money. I have seen people invest their savings and hard earned money in bitcoins and later they lost all the money in gambling.
So its not mainly about your portfolio value in terms of dollars but also the risk involved in gambling is a big con for bitcoin gambling.

You may not that care having your money in bitcoin but come to think of it, like some weeks ago when bitcoin was at $40000, bitcoin dropped back to $19000 today, anyone having like $250 bitcoin on a betting online platform will have less than $250 by now. We all have different opinions about this but it is very annoying for people to lose money, in reality, it is not easy at all. I have preferred to use USDT on any gambling site I use, I will only buy bitcoin back in 2023 when I know the crypto market can not go down much further.

[Vaculin]

I don't mind if the bitcoin dumps as long as i am holding my winnings in bitcoin.
The main problem in gambling is that you have a lot of risk of losing your money. I have seen people invest their savings and hard earned money in bitcoins and later they lost all the money in gambling.
So its not mainly about your portfolio value in terms of dollars but also the risk involved in gambling is a big con for bitcoin gambling.

You may not that care having your money in bitcoin but come to think of it, like some weeks ago when bitcoin was at $40000, bitcoin dropped back to $19000 today, anyone having like $250 bitcoin on a betting online platform will have less than $250 by now. We all have different opinions about this but it is very annoying for people to lose money, in reality, it is not easy at all. I have preferred to use USDT on any gambling site I use, I will only buy bitcoin back in 2023 when I know the crypto market can not go down much further.

If you don't want to risk the volatility of the assets, you can choose USDT to gamble. However, volatility is not negative at all, sometimes it also gives positive results especially if the market is bullish, right now it's bearish so it's not good to gamble with volatile assets especially if you want to withdraw it right away after you gamble.

[madnessteat]

I don't mind if the bitcoin dumps as long as i am holding my winnings in bitcoin.
The main problem in gambling is that you have a lot of risk of losing your money. I have seen people invest their savings and hard earned money in bitcoins and later they lost all the money in gambling.
So its not mainly about your portfolio value in terms of dollars but also the risk involved in gambling is a big con for bitcoin gambling.

You may not that care having your money in bitcoin but come to think of it, like some weeks ago when bitcoin was at $40000, bitcoin dropped back to $19000 today, anyone having like $250 bitcoin on a betting online platform will have less than $250 by now. We all have different opinions about this but it is very annoying for people to lose money, in reality, it is not easy at all. I have preferred to use USDT on any gambling site I use, I will only buy bitcoin back in 2023 when I know the crypto market can not go down much further.

I also prefer stablecoins for gambling because it guarantees the safety of asset value.

If you are a long-term investor, it is best to buy Bitcoin at a time when fear reigns in the market. For example, like now, but you should not buy with all your available funds at once, but in portions. For example, buy Bitcoin every month despite the price by 5-7% of your deposit intended for investments in cryptocurrencies.

[yazher]

If you don't want to risk the volatility of the assets, you can choose USDT to gamble. However, volatility is not negative at all, sometimes it also gives positive results especially if the market is bullish, right now it's bearish so it's not good to gamble with volatile assets especially if you want to withdraw it right away after you gamble.

That's what I'm doing every time I got some big amount of rewards from bounties back in the days because I was scared of the volatility hitting my current crypto -50%. But one day I forgot to convert it to stablecoins and some rare event happen that day and when I look at the price it raises and that's the best forgetfulness I ever had because I gained a decent amount of money from that event.

[noormcs5]

I feel, when bitcoin is used for gambling then yes, trading and gambling dont differ much when it comes to earnings. As bitcoin / crypto market is volatile, as long as you hold the coin earned from gambling and trading, the benefits will be more. Yes, there will be pain when Bitcoin earned in bull market winning in gambling and later the value goes down at bearish market.   

I think you are confusing between trading and gambling.

With trading, yes you can buy, hold and wait for the profits. Even if you are not an active trader, buying low and selling high will give you good returns (however you may have to wait many months in bearish markets)

On the other hand, gambling is a game that you play and can win and lose instantly. Gambling is more risker than trading and the motive of gambling is not only to earn money but also to have fun in leisure time.

[Zilon]

Now that all of us have an idea about the Pros and cons according to the source link,  I'd like to ask something to anyone here in the forum.

- Is it convenient to play in the Bitcoin Gambling?

Bitcoin gambling has brought more convenience to the gambling sector curbing the challenge of fiat exchange rates across different countries. Since Bitcoin can be accessed from any part of the world it has made deposit and withdrawals more convinient.

- How does Bitcoin gambling work?
- Does Bitcoin Gambling can give a good opportunity to everyone?

Bitcoin gambling works just the same as fiat gambling does the only peculiar difference is in the ease to withdrawal from any part of the world and also the benefit of having your profit either appreciate or depreciate depending on the state of the market trend

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

 Bitcoin gambling for me is just a matter of Fun or amusement in accordance with my insight with this.
Hope every one can give other tips on this matter..

Addiction is a big problem that has high chances of causing suicide. Gambling remains what it is no matter what currency you choose to gamble with be it fiat or crypto. Been responsible enough to know when to take a break and when to stop is what makes gambling fun

[mirakal]

As a gambler, we will surely want to choose a coin that is much cheaper and its volatility wouldn't surely hurt us that much if it will suddenly inclines or declines, and surely wouldn't mind thinking if they could influence such coin movement. I believe that on average gamblers are not using bitcoins upon betting in their favorite sports book or casino game.

This is why people preferred doge before all of this Elon stuff happened. We loved Doge for the fact that it was cheap, fast, and usually not volatile. It was accepted in most casinos, and it was like a joke money where you throw in 5k of it, 10k of it whatever, if you are rich enough then millions.

This is why it was such a good thing and now because of Elon Musk it became something that is a bit more volatile and because of that it became a bit more problematic. Of course there are still some coins which are low in price and you could send them with little cost, but they became not so great because of all the volatility in the market these days hence why not used.

Dogecoin is classified as sh*tcoin because it almost has no utility but gambler/investor still loves to spend it, especially when it comes to gambling activities as their prices don't move that much. I agree that Elon Musk has changed dogecoin but there are so many people who have been successful enough to duplicate Elon's actions before dogecoin dipped again. But that's fine, as a gambler, we always find ways what specific coin is good for gambling purposes.

[Fatunad]

As a gambler, we will surely want to choose a coin that is much cheaper and its volatility wouldn't surely hurt us that much if it will suddenly inclines or declines, and surely wouldn't mind thinking if they could influence such coin movement. I believe that on average gamblers are not using bitcoins upon betting in their favorite sports book or casino game.

This is why people preferred doge before all of this Elon stuff happened. We loved Doge for the fact that it was cheap, fast, and usually not volatile. It was accepted in most casinos, and it was like a joke money where you throw in 5k of it, 10k of it whatever, if you are rich enough then millions.

This is why it was such a good thing and now because of Elon Musk it became something that is a bit more volatile and because of that it became a bit more problematic. Of course there are still some coins which are low in price and you could send them with little cost, but they became not so great because of all the volatility in the market these days hence why not used.

Dogecoin is classified as sh*tcoin because it almost has no utility but gambler/investor still loves to spend it, especially when it comes to gambling activities as their prices don't move that much. I agree that Elon Musk has changed dogecoin but there are so many people who have been successful enough to duplicate Elon's actions before dogecoin dipped again. But that's fine, as a gambler, we always find ways what specific coin is good for gambling purposes.

Some do mind off on a coin which does have lesser volatility and some do find on something that does have potential to increase its price on wide range which in short this do really talks about
preference and not all would really be that having the likes on dealing with meme coins and been directly been using Bitcoin as their main coin to deal off with gambling.Some do mind about
accumulating bitcoin as much as they could and some doesnt really mind or simply deals on it since its been the most or the common currency or coin which majority of
casinos that do accept which you could find it almost everywhere.

[gunhell16]

For me the biggest pro and con of bitcoin gambling is the same thing: its high value and high price appreciation. Bitcoin is constantly going up in value if you look at the lows over a 2-3 year period so it';s the best coin for saving money and holding for the long run. If you gamble it away and it gains value next year you're going to feel the hurt. The same thing is also a positive feature because if you can win some and hold it you're going to be very happy after the next halving.

If you know what you're doing and usually win, bet whatever you like. If not, choose a cheap altcoin especially one of those that you can get for free

In my own opinion, I also believe that when we do the right thing in gambling, the results will definitely be good, so if we know that we have won many times, we must always learn to have so-called self-control and self-discipline.

Exactly! As a gambler, we will surely want to choose a coin that is much cheaper and its volatility wouldn't surely hurt us that much if it will suddenly inclines or declines, and surely wouldn't mind thinking if they could influence such coin movement. I believe that on average gamblers are not using bitcoins upon betting in their favorite sports book or casino game.

because of cheap, we can buy doge with not lot of money, we can buy doge with only $1 in the pocket and transfer it to gambling site with low fee and multiple it 100x, I did it past.

If that's the situation, I can say that this is a good opportunity for you to gamble where your capital can grow a little if you use the right gambling method and what's even better is that the Dogecoin charge you choose is very low if you use in gambling.

[_act_]

In my own opinion, I also believe that when we do the right thing in gambling, the results will definitely be good, so if we know that we have won many times, we must always learn to have so-called self-control and self-discipline.

If a gambler has won, he truly need to stop gambling, if I am the person, I will not even have it in mind to continue gambling, I will stop immediately I win. But many people see it more interesting and they will continue to gamble until they lose.

But also if a gambler do not even win at the first bet, he supposed not to continue to gamble, a single loss is a way to more losses as the person will want to win back his lost funds, but which it supposed not to be as the person is at the time more vulnerable to losses.

If that's the situation, I can say that this is a good opportunity for you to gamble where your capital can grow a little if you use the right gambling method and what's even better is that the Dogecoin charge you choose is very low if you use in gambling.

I prefer stable coins, if to use an unstable coin, I will prefer bitcoin during this time.

[ipanks]

snip

In addition, the current price of Dogecoin is still very cheap and even though the price can soar like the last time, gamblers still like to use Dogecoin. Fast transaction processing, low transaction fees, and the use of Dogecoin for betting that are not much are also factors why many people still use Dogecoin to gamble. Elon Musk has done his part to make the price of Dogecoin go up high and I don't know what other coin Elon will choose so that the price can go up high like Dogecoin.

[wxa7115]

In my own opinion, I also believe that when we do the right thing in gambling, the results will definitely be good, so if we know that we have won many times, we must always learn to have so-called self-control and self-discipline.

If a gambler has won, he truly need to stop gambling, if I am the person, I will not even have it in mind to continue gambling, I will stop immediately I win. But many people see it more interesting and they will continue to gamble until they lose.

But also if a gambler do not even win at the first bet, he supposed not to continue to gamble, a single loss is a way to more losses as the person will want to win back his lost funds, but which it supposed not to be as the person is at the time more vulnerable to losses.

What happens is that when people are winning they think themselves as being lucky that day and they do not want that luck to run out, I know it does not make sense as luck cannot possibly run out but that is the way they think, so they keep gambling trying to obtain more profits.

But as you may guess at some point they are not as lucky anymore and they begin to lose money, that would be a good moment to stop and call it a day, but then people do not want to stop at that point as now they feel they have lost money, even if in their accounts there is more money than when they began their session, this pushes them to keep gambling and eventually to have a losing session despite having such a promising start.

[mirakal]

As a gambler, we will surely want to choose a coin that is much cheaper and its volatility wouldn't surely hurt us that much if it will suddenly inclines or declines, and surely wouldn't mind thinking if they could influence such coin movement. I believe that on average gamblers are not using bitcoins upon betting in their favorite sports book or casino game.

This is why people preferred doge before all of this Elon stuff happened. We loved Doge for the fact that it was cheap, fast, and usually not volatile. It was accepted in most casinos, and it was like a joke money where you throw in 5k of it, 10k of it whatever, if you are rich enough then millions.

This is why it was such a good thing and now because of Elon Musk it became something that is a bit more volatile and because of that it became a bit more problematic. Of course there are still some coins which are low in price and you could send them with little cost, but they became not so great because of all the volatility in the market these days hence why not used.

Dogecoin is classified as sh*tcoin because it almost has no utility but gambler/investor still loves to spend it, especially when it comes to gambling activities as their prices don't move that much. I agree that Elon Musk has changed dogecoin but there are so many people who have been successful enough to duplicate Elon's actions before dogecoin dipped again. But that's fine, as a gambler, we always find ways what specific coin is good for gambling purposes.

Some do mind off on a coin which does have lesser volatility and some do find on something that does have potential to increase its price on wide range which in short this do really talks about
preference and not all would really be that having the likes on dealing with meme coins and been directly been using Bitcoin as their main coin to deal off with gambling.Some do mind about
accumulating bitcoin as much as they could and some doesnt really mind or simply deals on it since its been the most or the common currency or coin which majority of
casinos that do accept which you could find it almost everywhere.

Exactly because that certainly depends on the gambler itself if he or she will and wants use bitcoin to deal with the casino, but I believe that the minority of these gamblers are using other coins (coins that are cheap and has lesser volatility) in dealing with the casino, just like me. Some also sees bitcoin as a coin for hodling or trading purposes and some just used it without minding at all.

[KTChampions]

What happens is that when people are winning they think themselves as being lucky that day and they do not want that luck to run out, I know it does not make sense as luck cannot possibly run out but that is the way they think, so they keep gambling trying to obtain more profits.

But as you may guess at some point they are not as lucky anymore and they begin to lose money, that would be a good moment to stop and call it a day, but then people do not want to stop at that point as now they feel they have lost money, even if in their accounts there is more money than when they began their session, this pushes them to keep gambling and eventually to have a losing session despite having such a promising start.

Such behavior may be to some extent conditioned by classical literature. As you know, many authors were avid players and they transferred their prejudices to their books. And now some diligent students (who diligently read books in school  ) have the same prejudices that play against them. Very ironic.

[MonsterV]

In the past, gambling with bitcoins (let's say with crypto in general) was still good for a certain degree of anonymity. It seems to have disappeared due to the KYC. Granted, not all sites implement this. But even if you would sign up with only your email address, that is no guarantee that you can gamble anonymously. So I think we can no longer put the notion of anonymity on the scale as an advantage, because that seems to have disappeared. Fast deposits and withdrawals seem to be the most important right now.

[Saint-loup]

In the past, gambling with bitcoins (let's say with crypto in general) was still good for a certain degree of anonymity. It seems to have disappeared due to the KYC. Granted, not all sites implement this. But even if you would sign up with only your email address, that is no guarantee that you can gamble anonymously. So I think we can no longer put the notion of anonymity on the scale as an advantage, because that seems to have disappeared. Fast deposits and withdrawals seem to be the most important right now.

Which casino are you talking about precisely MonsterV? Because most of crypto casinos I know don't require KYC (including the one you're promoting) unless you're not a rather big winner. Bitcoins and other cryptos allow players to gamble quietly without being bored by issues with their bank or their state authorities prohibiting gambling at offshore casinos and all nice games.

[Mauser]

- Is it convenient to play in the Bitcoin Gambling?
- How does Bitcoin gambling work?
- Does Bitcoin Gambling can give a good opportunity to everyone?

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

Right now it's very convenient for me to gamble with bitcoins because the price is so low. For long term investors gambling offers the chance to generate some passive income on times of low prices. A few months ago when the prices where much higher I was a bit reluctant to use crypto currencies for gambling. It seemed easier to gamble with fiat money. My main fear was I would lose bitcoins while the price would rise higher and I lost double because I had to buy back the bitcoins at a higher price. Now it's all about making some return on the side.
Gambling with bitcoins is very easy, you need no credit card or bank account. The coins can be directly transferred from your wallet to the casino and its faster than any wire transfer. Becoming addicted to gambling is a terrible thing and I don't think there is anything positive in it if you gamble with fiat or with bitcoins. I would assume that an addict makes no difference in what type of currency he uses to gamble. Maybe with bitcoins it's easier to give away access to your wallet to your family, to prevent yourself from gambling.

[_act_]

Dogecoin is classified as sh*tcoin because it almost has no utility but gambler/investor still loves to spend it, especially when it comes to gambling activities as their prices don't move that much. I agree that Elon Musk has changed dogecoin but there are so many people who have been successful enough to duplicate Elon's actions before dogecoin dipped again. But that's fine, as a gambler, we always find ways what specific coin is good for gambling purposes.

Using doge for gambling is one of its use, but still truly not having enough utility like bitcoin which even marchants are using, some countries like El Salvador and Central Africa Republic support bitcoin, but doge low transaction fee is part of the reasons it is used for gambling, but though not common like bitcoin.

But as for volatility, I will disagree with that, the price of doge increased to $0.8 all-time-high and now at $0.06, before the bull run that occured in 2021, there was a time doge was at $0.002, the coin is also very volatile, even it is one of the most volatile coin during the last bull run.

[YinShuiSiYuan]

Which casino are you talking about precisely MonsterV? Because most of crypto casinos I know don't require KYC (including the one you're promoting) unless you're not a rather big winner. Bitcoins and other cryptos allow players to gamble quietly without being bored by issues with their bank or their state authorities prohibiting gambling at offshore casinos and all nice games.

With bitcoin gambling there is no need for kyc for online casino's. Its advantage is that countries where gambling is not allowed can can take part in gambling while the down side is teens under 18 can also take part in such online gambling platforms. It's just a double edge sword IMO.

[AicecreaME]

- Is it convenient to play in the Bitcoin Gambling?
- How does Bitcoin gambling work?
- Does Bitcoin Gambling can give a good opportunity to everyone?

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

 Bitcoin gambling for me is just a matter of Fun or amusement in accordance with my insight with this.
Hope every one can give other tips on this matter..

- online casinos that uses cryptocurrency will be always convenient to use, not just Bitcoin but all of the altcoins as well.

- Bitcoin gambling works like the usual gambling, the only difference is the currency being used.

- It is a great opportunity to make huge profits only if you're good at the game you pic or suffer the consequences because you're just curious and wanna try it.

- Gambling addiction is bad, so why would anyone call it a good result? LoL.

[Solosanz]

With bitcoin gambling there is no need for kyc for online casino's. Its advantage is that countries where gambling is not allowed can can take part in gambling while the down side is teens under 18 can also take part in such online gambling platforms. It's just a double edge sword IMO.

I'm surprised you can say this, I think you're not a regular gambler since you never faced the casino ask your KYC. It's true upon registration you don't need to submit KYC, but you should check their terms of service to know if the casino is really no KYC or KYCless. KYCless is the casino ask your KYC when they feel you doing suspicious activity on your account. But in some case, the casino ask to random gamblers even though they didn't do anything harm.

[KTChampions]

- online casinos that uses cryptocurrency will be always convenient to use, not just Bitcoin but all of the altcoins as well.

- Bitcoin gambling works like the usual gambling, the only difference is the currency being used.

- It is a great opportunity to make huge profits only if you're good at the game you pic or suffer the consequences because you're just curious and wanna try it.

- Gambling addiction is bad, so why would anyone call it a good result? LoL.

If I'm not mistaken, then there are (or were) fundamental differences - this is the provable fair system. Initially, it worked only for crypto gambling and this was a huge plus for those who want to be 100% sure of a fair game. I do not presume to say, but it seems to me that now this system is also used in regular casinos.

[mindrust]

The only downside of gambling with bitcoin is also its greatest strength. Being anonymous and unregulated. You are free from the government if you play on the right casino but when you have a problem with the casino, things may turn upside down because there isn’t a higher authority protect your rights. Decentralization and being anonymous cuts both ways. It is great while it is working but when it don’t, you are effed.

[btcbeograd]

 Nowadays, there are a lot Bitcoin gamblers who are hoping to earn big in a short period of time. But the majority of the community are not aware and don't have any idea regarding about the advantages and disadvantages of this industry. That is why I'd like to discuss this matter to show what I had discovered in the Bitcoin gambling.



BITCOIN GAMBLING ADVANTAGES FOR PLAYERS

1. It is decentralized.
2. It is secure.
3. It is private.
4. It is fast.
5. It is not subject to inflation.
6. It is not always taxed
7. Bitcoin has (had) low transaction fees.

1. It is but once you send your coins to the casino, you are sent it to the centralized wallet.

2. Security depends on the casino.

3. Not anymore if you have to pass KYC for playing.

4. And sometimes very slow!

6. It is always taxed. You choose not to disclose your assets and earnings.

7. Not always.

4.It is untraceable

Not really. Bitcoin is pseudonymous. Not anonymous. And since you will provide your ID to the casino, it can be traced back to you.

and you have to pass KYC practically always unfortunately 

[Saint-loup]

Which casino are you talking about precisely MonsterV? Because most of crypto casinos I know don't require KYC (including the one you're promoting) unless you're not a rather big winner. Bitcoins and other cryptos allow players to gamble quietly without being bored by issues with their bank or their state authorities prohibiting gambling at offshore casinos and all nice games.

With bitcoin gambling there is no need for kyc for online casino's. Its advantage is that countries where gambling is not allowed can can take part in gambling while the down side is teens under 18 can also take part in such online gambling platforms. It's just a double edge sword IMO.

I don't understand why it's a matter if they are under 18. This is not porn websites or dark marketplaces. It's up to their parents to monitor them. Moreover when you are under 18 you usually have not much money to spend, and rarely a rent to pay, then risks of losing big amount of money and getting ruined is pretty low.

[BitcoinPanther]

In the past, gambling with bitcoins (let's say with crypto in general) was still good for a certain degree of anonymity. It seems to have disappeared due to the KYC. Granted, not all sites implement this. But even if you would sign up with only your email address, that is no guarantee that you can gamble anonymously. So I think we can no longer put the notion of anonymity on the scale as an advantage, because that seems to have disappeared. Fast deposits and withdrawals seem to be the most important right now.

I agree with the implementation of KYC all the anonymity advantage of Bitcoin has been nullified.  Now the only advantage of using Bitcoin in a gambling platform is not needing a bank account to play.  Aside from that, depositing Bitcoin to a Casino takes time so basically this is one of the cons of using Bitcoin so I prefer to use coins that has faster confirmation so that I can play as soon as I send the deposit transaction.

[Ryker1]

The only downside of gambling with bitcoin is also its greatest strength. Being anonymous and unregulated. You are free from the government if you play on the right casino but when you have a problem with the casino, things may turn upside down because there isn’t a higher authority protect your rights. Decentralization and being anonymous cuts both ways. It is great while it is working but when it don’t, you are effed.

Well right --as we can see, most gambling casinos now require KYC and it could be our privacy start fading away in terms of these gambling casinos using bitcoin, it is supposedly anonymous or pseudonymous but when most of them implement KYC everything on privacy has been gone. The purpose of bitcoin use in gambling casinos is privacy but now, it is for convenient use only.