Does bitcoin dump have any impact on gamblers ?

[Zilon]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

Gamblers also spend their winnings on valuable things so the price also affect. Gambling might not seem to be an investment in the eyes of strict people and non-gamblers but in real sense it might be considered as one, although in a reserved context. But be what it may the price dump also affect them both the bettor and the house because as price keeps falling the value of their wins sinks with it.

[milewilda]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

Gamblers also spend their winnings on valuable things so the price also affect. Gambling might not seem to be an investment in the eyes of strict people and non-gamblers but in real sense it might be considered as one, although in a reserved context. But be what it may the price dump also affect them both the bettor and the house because as price keeps falling the value of their wins sinks with it.

Gamblers doesn't really mind off about investment and on the money that they are spending on gambling which does mean that they don't really care on what's the market price or movement and whenever they do have that investment then it would be a separate thing and they won't really be including it into those funds that had been used on gambling because it was really intended to be used on that part and not really tending to go overboard but this one is situational because not all people would be having the control into various things.

[Rengga Jati]

The impact may be for those who are still holding the Bitcoin or late sell at the higher rate when they won. But as long as that is Bitcoin and they are willing for long-term holding, why not? This will not give big impact.
But, if they are short-term holders or even getting this for cashing out, this will give a certain impact.

Gamblers doesn't really mind off about investment and on the money that they are spending on gambling which does mean that they don't really care on what's the market price or movement ...

Exactly, this will also depend on each personal purpose.
Most gamblers will use their BTC to bet or gamble again and again. Only at a certain condition that they will turn to stable coins or for cashing out to get the profits.

[Pierre 2]

I feel like it may not directly BUT indirectly affect gamblers. Most gamblers probably hold their gains as USDT as the most popular stable coin or Bitcoin or Ethereum. Bitcoin losing value may make them feel bad in general so they may prefer to spend money to return gambling back later on. It totally depends. Bitcoin dump overall every aspect of where crypto is used, so gambling is obviously included.

[AmoreJaz]

I feel like it may not directly BUT indirectly affect gamblers. Most gamblers probably hold their gains as USDT as the most popular stable coin or Bitcoin or Ethereum. Bitcoin losing value may make them feel bad in general so they may prefer to spend mony to return gamvling back later on. It totally depends. Bitcoin dump overall every aspect of where crypto is used, so gambling is obviously included.

once a gambler, always a gambler. so no matter what the situation of the market we are in, they will always play. they may reduce their spending habits, but they will still find a way to play. gambling business is one of the earliest applications of crypto. and look at where we are now. casinos/bookies are still sprouting like mushrooms. if they are not generating income, we won't see this business expand to where we are right now.

[Wakate]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

A gamble that gamble frequently would not be too affected by the price of Bitcoin because of their often gambling activities. In one way or the other they can feel the dip of the market because the worth of their Bitcoin might have depreciated in value which is the reason why many gamblers that are not a frequent gamblers might take a look at other alternatives they can use to get it done. The use of stable coins can also be considered as a good alternative for Bitcoin due to it volatility.

[Pierre 2]

I feel like it may not directly BUT indirectly affect gamblers. Most gamblers probably hold their gains as USDT as the most popular stable coin or Bitcoin or Ethereum. Bitcoin losing value may make them feel bad in general so they may prefer to spend mony to return gamvling back later on. It totally depends. Bitcoin dump overall every aspect of where crypto is used, so gambling is obviously included.

once a gambler, always a gambler. so no matter what the situation of the market we are in, they will always play. they may reduce their spending habits, but they will still find a way to play. gambling business is one of the earliest applications of crypto. and look at where we are now. casinos/bookies are still sprouting like mushrooms. if they are not generating income, we won't see this business expand to where we are right now.

I really cannot deny "once a gambler, always a gambler" saying. Gamblers can transform many different institutions. They are one of the finest examples of "money generation" business. As you also said, true gambler would never stop gambling, but only reduce amount of money they gamble away. I think it was very natural that, first ever crypto businesses (after exchanges) were online casinos.

[xSkylarx]

Most gamblers usually use their own money in fiat to gamble and if they manage to win some amounts, they convert it immediately so they will have funds to gamble again for the next day. These bitcoin dumps won't be a concern for them as the value will still be the same if they always convert it immediately. If you're a gambler and a trader or investor, then you should have separate funds on those activities.

[swogerino]

I feel like it may not directly BUT indirectly affect gamblers. Most gamblers probably hold their gains as USDT as the most popular stable coin or Bitcoin or Ethereum. Bitcoin losing value may make them feel bad in general so they may prefer to spend mony to return gamvling back later on. It totally depends. Bitcoin dump overall every aspect of where crypto is used, so gambling is obviously included.

once a gambler, always a gambler. so no matter what the situation of the market we are in, they will always play. they may reduce their spending habits, but they will still find a way to play. gambling business is one of the earliest applications of crypto. and look at where we are now. casinos/bookies are still sprouting like mushrooms. if they are not generating income, we won't see this business expand to where we are right now.

The dump would make a difference in fact I think they would play less,at least this is what I do,I play less in dollars now because for the same amount of dollars I have to spent a bigger amount in Bitcoin.While when the price is huge like near 60K I would play more in dollars as that would translate in less being spent in Bitcoin.I think this is true in every gambler who prefer to gambles with Bitcoin.I also agree with once a gambler always a gambler but the gambler who loves Bitcoin does what I say most likely.

[dunfida]

Most gamblers usually use their own money in fiat to gamble and if they manage to win some amounts, they convert it immediately so they will have funds to gamble again for the next day. These bitcoin dumps won't be a concern for them as the value will still be the same if they always convert it immediately. If you're a gambler and a trader or investor, then you should have separate funds on those activities.

It would automatically converts on the current market price which we know that majority of gamblers doesn't care on what's the value on the time that they do make deposit.
Ex. 100 USD = 0.001 or 0.005 btc value then it won't be an issue.

They do know the advantages that on a declining market they could possibly earn more coins since the value is less but that's if they are minding about investment but if not then it won't an issue imho.

[Jemzx00]

Most gamblers usually use their own money in fiat to gamble and if they manage to win some amounts, they convert it immediately so they will have funds to gamble again for the next day. These bitcoin dumps won't be a concern for them as the value will still be the same if they always convert it immediately. If you're a gambler and a trader or investor, then you should have separate funds on those activities.

There might be some gamblers who instantly withdraw their funds and convert them to fiat however not all gamblers do the same techniques. There is some gambler who let their funds stay on the platform until they reached some goal or maybe not at all and only withdraw them when they need them. Also, I don't think they really based their gambling funds on fiat but rather on crypto that they prefer such as bitcoin, ethereum, or other cryptocurrencies. So they might really not be affected much whether the price changes or not since they're basing their funds through crypto and not on fiat.

It really depends on the preference of the gambler whether they'll be basing their gambling activity through crypto or fiat.

[Bitinity]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

If the gamblers knows how volatility the price of bitcoin is, then it wont affect them as they should have realized it really well. Means that they are ready for any case that may happen on bitcoin's price. Even if the price dumped crazily, they know what to do with their bitcoin (hold it) till the price back to the price when they started their gambling session. For those who are not ready with crazy movement of the bitcoin price, it is better to use stable coin.

[Hypnosis00]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

It depends on the gambler, as for me, it has no impact at all as I separate my gambling funds from my investment funds. if you are just using bitcoin as a payment method, the price should not matter as at the end of the day, you will just convert your bitcoin to cash out and enjoy your winning.

[Pamadar]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

If the gamblers knows how volatility the price of bitcoin is, then it wont affect them as they should have realized it really well. Means that they are ready for any case that may happen on bitcoin's price. Even if the price dumped crazily, they know what to do with their bitcoin (hold it) till the price back to the price when they started their gambling session. For those who are not ready with crazy movement of the bitcoin price, it is better to use stable coin.

Good advice to gamblers who don't know how to work with the volatility of bitcoin,

it's better to use stable coin, it will allow you to continue without being bothered in a rollercoaster changes of value
of your bankroll in terms of fiat.

But if you are a gambler who knows how to deal with this and you are good at balancing your bankroll, you'll treat this
as a normal case around, you'll be patiently wait before cashing out.

[l3pox]

For me it was always more painful when Bitcoin pumped because I could remember all the money that I've wasted and kept thinking about the things I'd be able to buy now that I'd have 5 times more without having to take the risk. It's actually amazing how much every small move that we make can affect our future, like the decision to roll the dice. You think you're winning or losing $1000 but you could in 10 years see that at that time you were winning or losing a million.

interesting
maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?

maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.

[Apocollapse]

interesting
maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?

maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.

Of course it is, the fees will increase higher than now, perhaps around x3-4 more and it's not convenient if you're a small gambler because even you have multiply your beginning bankroll, the withdrawal fees will cost you a lot. In that situation, that's why many people prefer to use altcoins since it's cheap.

I'd say the impact is only for casino which present our money in USD while we're deposit on BTC, ETH etc. This will make us feel the money you have deposited went down and you need to calculate it again if you're using such money management.

[Rufsilf]

For me it was always more painful when Bitcoin pumped because I could remember all the money that I've wasted and kept thinking about the things I'd be able to buy now that I'd have 5 times more without having to take the risk. It's actually amazing how much every small move that we make can affect our future, like the decision to roll the dice. You think you're winning or losing $1000 but you could in 10 years see that at that time you were winning or losing a million.

interesting
maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?

maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.

Price doesn't really matter for those who got addicted to gambling. And likely, if you will hold, you are not a gambler anymore.

Anyways, I'd see no big difference when gambling during the bear season vs bull season as the results are still the same. Assuming that gamblers will stop gambling during the market correction, then we have to say that gambling sites will stop as well and seasonal. Oh, I didn't see that, a real gamblers don't care about the market situation, they instead do things that make them happy.

[Boristhecat]

For me it was always more painful when Bitcoin pumped because I could remember all the money that I've wasted and kept thinking about the things I'd be able to buy now that I'd have 5 times more without having to take the risk. It's actually amazing how much every small move that we make can affect our future, like the decision to roll the dice. You think you're winning or losing $1000 but you could in 10 years see that at that time you were winning or losing a million.

interesting
maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?

maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.

It seems to me that real gamblers do not think about such long-term prospects - it's one thing if they see that bitcoin has fallen or grown by 10% in a day, then they can talk about loss or gain. But it's another matter to look to a more distant future - a gambler wants to play here and now, and not wait for theoretical (and not guaranteed) returns from investing.

[Altryist]

If the gamblers knows how volatility the price of bitcoin is, then it wont affect them as they should have realized it really well. Means that they are ready for any case that may happen on bitcoin's price. Even if the price dumped crazily, they know what to do with their bitcoin (hold it) till the price back to the price when they started their gambling session. For those who are not ready with crazy movement of the bitcoin price, it is better to use stable coin.

There is no big problem here, because the main task of the player is to increase their deposit, so to increase the amount of bitcoin they have. This is what the player should really worry about, and the fact that the price will rise after some time is clear to everyone who has been familiar with the cryptocurrency for at least a few years, has seen how cycles change, and the bear market is replaced by a bull market.

[KTChampions]

interesting
maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?

maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.

Of course it is, the fees will increase higher than now, perhaps around x3-4 more and it's not convenient if you're a small gambler because even you have multiply your beginning bankroll, the withdrawal fees will cost you a lot. In that situation, that's why many people prefer to use altcoins since it's cheap.

I'd say the impact is only for casino which present our money in USD while we're deposit on BTC, ETH etc. This will make us feel the money you have deposited went down and you need to calculate it again if you're using such money management.

The last time bitcoin fees were unacceptably high was 2018 if I'm not mistaken. Since then, only ETH has experienced problems with network bandwidth and transfers in it are inadequately expensive.
As for the recalculation of funds (if we are talking about gambling), this is also not a problem - I think the one who keeps dollar goals in mind plays on USDT, and the one who counts in satoshi also plays them.