Does bitcoin dump have any impact on gamblers ?

[gunhell16]

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?

Maybe for those who have been playing crypto gambling for a long time it has no effect on them, and I’m sure they won’t be bothered either because they know that kind of move in this industry. And then if anyone will be affected by this sudden fall in the price of bitcoin, it is none other than those who are new to this industry and do not yet have enough knowledge of cryptocurrency. What they can do right away is to release their gambling winnings immediately because they will think that Bitcoin will continue to collapse, which is not really going to happen.

[hahay]

Maybe for those who have been playing crypto gambling for a long time it has no effect on them, and I’m sure they won’t be bothered either because they know that kind of move in this industry. And then if anyone will be affected by this sudden fall in the price of bitcoin, it is none other than those who are new to this industry and do not yet have enough knowledge of cryptocurrency. What they can do right away is to release their gambling winnings immediately because they will think that Bitcoin will continue to collapse, which is not really going to happen.

I think if they were new they wouldn't pay much attention to the ups and downs of the price, because basically they would focus on the stakes and not on the price on bitcoin. But indeed, the decline in the price of bitcoin will not affect the overall bet because every gambler and player certainly has its own way and calculation for them to hold, withdraw and deposit. So far the price of bitcoin has experienced a lot of decline but in fact there are not many gamblers who complain about it and also, not many of the developers are bankrupt, because more of them survive and continue to grow over time.

[l3pox]

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?

Maybe for those who have been playing crypto gambling for a long time it has no effect on them, and I’m sure they won’t be bothered either because they know that kind of move in this industry. And then if anyone will be affected by this sudden fall in the price of bitcoin, it is none other than those who are new to this industry and do not yet have enough knowledge of cryptocurrency. What they can do right away is to release their gambling winnings immediately because they will think that Bitcoin will continue to collapse, which is not really going to happen.

you are right, those who want exposure to crypto price won't care that much and maybe lower price will even incentive them to buy more (and maybe gamble more)
while those who don't care about crypto will just sell for stablecoins and call it a day

[Haruki]

my experience is not big but
I think the fall of bitcoin for gmblrs is OK
you can buy it while it is cheaper as was said above
I think you can use other cryptos
bitcoin is just the most hype

[swogerino]

Maybe for those who have been playing crypto gambling for a long time it has no effect on them, and I’m sure they won’t be bothered either because they know that kind of move in this industry. And then if anyone will be affected by this sudden fall in the price of bitcoin, it is none other than those who are new to this industry and do not yet have enough knowledge of cryptocurrency. What they can do right away is to release their gambling winnings immediately because they will think that Bitcoin will continue to collapse, which is not really going to happen.

I think if they were new they wouldn't pay much attention to the ups and downs of the price, because basically they would focus on the stakes and not on the price on bitcoin. But indeed, the decline in the price of bitcoin will not affect the overall bet because every gambler and player certainly has its own way and calculation for them to hold, withdraw and deposit. So far the price of bitcoin has experienced a lot of decline but in fact there are not many gamblers who complain about it and also, not many of the developers are bankrupt, because more of them survive and continue to grow over time.

That is because many but many of the reputable and trustworthy casinos don't let you play in Bitcoin currency by default,or better to say that slot providers like Play n Go and a couple of others always exchange your balance to dollars and thus you don't pay that much attention.Also when we play sport betting every major casino and sport book let us directly play with Bitcoin as currency and this is also the case where new players would not notice anything.

In fact if they are really paying attention to anything they would see that when playing slots for the same amount of Bitcoin when we are in a bear market like right now it is not a wise idea to play as you are spending Bitcoin for a much lower value in dollars as when we are in a bull market.

[Wakate]

my experience is not big but
I think the fall of bitcoin for gmblrs is OK
you can buy it while it is cheaper as was said above
I think you can use other cryptos
bitcoin is just the most hype

If you think why Bitcoin is most hyped then why does it movement control the entire cryptocurrency market?
There are many alternative crypto coins that we can use to gamble butt still, Bitcoin still rule the whole crypto market. Bitcoin fall do affect the crypto gambling because the worth had reduced and you we need to have more Bitcoin to gamble to your satisfaction. The worth of Bitcoin when it was $60k and now that it is $20k makes us want to have more Bitcoin to use to place more bets because of the price had reduced.

[Japinat]

Gamblers will never intend to make any changes to their gambling habits just because there is trend change. Personally whenever the market used to decline I used to make myself more active into gambling.

When there is market decline, automatically the wallet balance will turn down relative to the decline. To compensate and keep the value same even after the market decline I used to gamble. This way I've lost big funds, because initially the portfolio gets maintained and later it'll turn towards a massive loss.

Yes, some aren't not that worried about the price and some are also trying to get some ways not to get their funds decline as some gamblers like to use some other kind of cryptocurrency which is not so volatile. This way, their funds wouldn't likely move even if it will be on their advantage.

You know, recovery and dips aren't going to worry some of these gamblers because they know that they can't control it. Some even trade to other coin just to make the fund somehow steady.

at the end of the day there are many more things we can't control than things we can control
better to react than to try to predict things like market movements

most gamblers will probably lose money longterm, what do you think?

Well, if we try to dig up on when did they started playing and what's the trading price of that specific coin used then I'm somehow confident to say that most and majority of these gamblers are already losing long-term but that's too deep already consider the data needed just to prove this speculation we had. We will just try to imagine it and speculate what would be the probable result.
Nonetheless, these gamblers will always try to get themselves play despite of the market movement.

[naira]

I think if they were new they wouldn't pay much attention to the ups and downs of the price, because basically they would focus on the stakes and not on the price on bitcoin. But indeed, the decline in the price of bitcoin will not affect the overall bet because every gambler and player certainly has its own way and calculation for them to hold, withdraw and deposit. So far the price of bitcoin has experienced a lot of decline but in fact there are not many gamblers who complain about it and also, not many of the developers are bankrupt, because more of them survive and continue to grow over time.

The impact on the casinos may not be, it just applies to the gamblers themselves. Let's say a gambler deposits Bitcoin from buying at a low price or withdraws it from a wallet when buying at a high price. So we can consider when we want to bet using Bitcoin from the results of purchases in a bear market the impact will not be felt. As for gamblers who deposit Bitcoin from high-priced purchases, the solution is better to use altcoins.

[BITCOIN4X]

I think if they were new they wouldn't pay much attention to the ups and downs of the price, because basically they would focus on the stakes and not on the price on bitcoin. But indeed, the decline in the price of bitcoin will not affect the overall bet because every gambler and player certainly has its own way and calculation for them to hold, withdraw and deposit. So far the price of bitcoin has experienced a lot of decline but in fact there are not many gamblers who complain about it and also, not many of the developers are bankrupt, because more of them survive and continue to grow over time.

I don't know about anyone else, but for me it won't have any impact. I don't bet with bitcoin, but more likely to do with other currencies like stablecoin or others. The impact of bitcoin's decline only leaves me with the opportunity to earn more bitcoin if I win, but the opposite will happen if I use stablecoin.

Big gamblers in the crypto space don't really care about price volatility, but they only care about how much assets they have in crypto so the lower the bitcoin price, the more it appears they are trying to collect more by gambling.

[abel1337]

Maybe for those who have been playing crypto gambling for a long time it has no effect on them, and I’m sure they won’t be bothered either because they know that kind of move in this industry. And then if anyone will be affected by this sudden fall in the price of bitcoin, it is none other than those who are new to this industry and do not yet have enough knowledge of cryptocurrency. What they can do right away is to release their gambling winnings immediately because they will think that Bitcoin will continue to collapse, which is not really going to happen.

I think if they were new they wouldn't pay much attention to the ups and downs of the price, because basically they would focus on the stakes and not on the price on bitcoin. But indeed, the decline in the price of bitcoin will not affect the overall bet because every gambler and player certainly has its own way and calculation for them to hold, withdraw and deposit. So far the price of bitcoin has experienced a lot of decline but in fact there are not many gamblers who complain about it and also, not many of the developers are bankrupt, because more of them survive and continue to grow over time.

That is because many but many of the reputable and trustworthy casinos don't let you play in Bitcoin currency by default,or better to say that slot providers like Play n Go and a couple of others always exchange your balance to dollars and thus you don't pay that much attention.Also when we play sport betting every major casino and sport book let us directly play with Bitcoin as currency and this is also the case where new players would not notice anything.

In fact if they are really paying attention to anything they would see that when playing slots for the same amount of Bitcoin when we are in a bear market like right now it is not a wise idea to play as you are spending Bitcoin for a much lower value in dollars as when we are in a bull market.

We know that bitcoin is a volatile assets. I think I will not agree that it's not a wise idea to play using bitcoin because of it's lower value. It's just the same thing as not letting traders trade because the value of their bitcoin is now reduced. If we play on a casino using bitcoin, Bitcoin will also be the reward. If a casino do not offer bitcoin as a default, I'm sure we can choose bitcoin and just avoid or use altcoin if that casino doesn't offer bitcoin as a currency to play at their casino. We can see that majority of crypto is going down and it's the market cycle we are experiencing. If the gambler want a stable, The gambler should opt of real world currency casino or resort to crypto casino that offers stable coins to play.   

If the gambler understand the volatility of bitcoin, the gambler wouldn't be affected much.

[FanEagle]

I just realized that I haven't been gambling all that much recently. That's probably about the drop, but also the fact that we have been in a drop for many months now and yet I still gambled makes me confused. Yes, it's low now and yes that has caused me to have less money, and yes that is why I probably do not gamble as much as I did back in the day.

But, what confuses me the most is the fact that I didn't stopped gamble last month, or the month before that or before that. The price wasn't low during that time neither? So, why would we think that the price is low right now and stop, if I end up didn't spending that much time considering this as a problem back in the day? I am not really sure at all.

[LUCKMCFLY]

Gamblers also suffer on market crash, there are some crypto gambling platforms that accept crypto but doesn't convert its value to $ value. While market price declines, we have to bet higher coin amounts for same payout. This is huge trouble especially when market goes down %60 and gamblers have to cover market losses before withdrawal on wining streak.

If that's the case for crypto gamblers, maybe they're better off leaving gambling for a while and saving their coins by just holding on to them. I guess it will be good for gamblers than them losing more of their coins on gambling either in value for money or in amount. But if they haven't been able to leave gambling, maybe they can convert their coins into stable coins, and then they can deposit them to a casino that accepts stable coins to gamble so they can continue gambling.

Well, one of the ways that players have is that those who have fiat money can buy BTC and be able to bet it on games, they may risk getting more satoshis than leaving them in Hodl mode, I also know that the risk of losing it is great, but i think its better for now to buy and play than those who are in hodl mode to risk it, in fact altcoins can take another turn, some know that when bitcoin rises it will have a lot of profitability, and some risk their altcoins to the maximum, but This does not end here, it could be that they want to give another meaning by betting only altcoins to try to multiply them and since their value is low it would not hurt so much.

[Japinat]

I just realized that I haven't been gambling all that much recently. That's probably about the drop, but also the fact that we have been in a drop for many months now and yet I still gambled makes me confused. Yes, it's low now and yes that has caused me to have less money, and yes that is why I probably do not gamble as much as I did back in the day.

Well, first off, it is good to know about that because you're not spending that much money recently as you've said and I'm sure you've saved yourself. But back to the topic, only you can answer those questions mate because if you gambled much back in the day when the price is a bit steep then you should still gamble now even if the price went low. Price can be still adjusted by how much you wanted to gamble.

[wheelz1200]

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?

Absolutely it does.  I don't have volume numbers from casinos but people will definately tend to gble more if theor trade earnings are in the green versus in the red.  It's a lot easier to take losing a lot of money if it was your profits versus your "hard earned money".  Is there site stats publicly available somewhere to see?

[wxa7115]

I just realized that I haven't been gambling all that much recently. That's probably about the drop, but also the fact that we have been in a drop for many months now and yet I still gambled makes me confused. Yes, it's low now and yes that has caused me to have less money, and yes that is why I probably do not gamble as much as I did back in the day.

But, what confuses me the most is the fact that I didn't stopped gamble last month, or the month before that or before that. The price wasn't low during that time neither? So, why would we think that the price is low right now and stop, if I end up didn't spending that much time considering this as a problem back in the day? I am not really sure at all.

That is in fact an interesting question, and there is not an absolute answer to it, but at least to me I think that even if the price was already quite low the recent drop brought way more than a new lower price for bitcoin.

Many people, and I will say that I thought like this as well, thought the price of bitcoin will never get lower than the ATH which we saw during 2017, however once the price went below that level that is wjhen people really began to think the price of bitcoin was too low, so the fact we went below that psychological barrier affected traders and investors and now this is beginning to affect the rate at which some of us gamble too.

[STT]

Alot of people are betting in dollar terms so it has an effect.   I agree with the idea to bet the BTC amount but not alot will do this, they refer to the value to buy things immediately only not the investment amounts to BTC.    I would try to focus on accumulating a whole Bitcoin from a lower amount and find this an objective, the game within the game and only worry about the price when I come to sell my earnings.
  After all it can take years for BTC to actually move properly, people worrying about the price so much is pointless it should be the bet you make that matters most if you win be happy and I do think BTC recovers in time with regular usage.

[Peanutswar]

Alot of people are betting in dollar terms so it has an effect.   I agree with the idea to bet the BTC amount but not alot will do this, they refer to the value to buy things immediately only not the investment amounts to BTC.    I would try to focus on accumulating a whole Bitcoin from a lower amount and find this an objective, the game within the game and only worry about the price when I come to sell my earnings.
  After all it can take years for BTC to actually move properly, people worrying about the price so much is pointless it should be the bet you make that matters most if you win be happy and I do think BTC recovers in time with regular usage.

Bitcoin and the dollars has an effect it depends on the currency of the local, in my country the price of the pesos to dollars is 56 pesos to 1 dollar before it is just around 50 pesos and now it is quite different when you are trying to buy crypto because it has less than what you got, in gambling some of the casino are still preferred with the current deposit and value of the crypto coins but due to market crash i guess it is not quite good because the value of the bitcoin falls down too when they take a withdrawal, at the same time i still prefer with the USD rate so it becomes 1:1 no market volatility too much.

[jossiel]

Alot of people are betting in dollar terms so it has an effect.   I agree with the idea to bet the BTC amount but not alot will do this, they refer to the value to buy things immediately only not the investment amounts to BTC.    I would try to focus on accumulating a whole Bitcoin from a lower amount and find this an objective, the game within the game and only worry about the price when I come to sell my earnings.
  After all it can take years for BTC to actually move properly, people worrying about the price so much is pointless it should be the bet you make that matters most if you win be happy and I do think BTC recovers in time with regular usage.

At this low, many would accumulate because it's the essential thing to do for those that have sold at profit and then haven't accumulated back those.

There could be some spared bitcoin to gamble but it won't be a lot just as how many gamblers have spent during the bull run as if it's nothing because the price is high.

[Daltonik]

It seems to me that the gamblers are more influenced by the subsequent pump of bitcoin that followed after the bets he made, it's just when you start comparing how much you lost, it's like a pizza story, but fomo is present everywhere not only in gambling.

[Cookdata]

my experience is not big but
I think the fall of bitcoin for gmblrs is OK
you can buy it while it is cheaper as was said above
I think you can use other cryptos
bitcoin is just the most hype

Did you call Bitcoin the most hyped coin? You must be really good at making comparisons about altcoins with king BTC. You were fair in your first statement and then change your tone in the last paragraph. I hope you make a deposit next time on a Casino that supports Luna and other shit-related tokens.
If you play on a Casino that keeps a balance on bitcoin, buying bunch of bitcoin right now is the best as you will get more value when the price appreciates and have more dollars to wedge and less satoshi to pay the casino on games to play.