Is The Gambling Industry Part Of The Domino Effect That Happens In The Market

[coin-investor]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

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[Oshosondy]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Crypto gambling sites will see the negative effect of bear market, but some gamblers are still gambling and they still make money, but not like during bull market that they play more.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

If you use a reputable gambling site, this would not happen. But why did you trust anything that is centralized? Better not to trust because anything can happen as long as the money is not with you.

 - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

No, I use noncustodial wallet. I deposit only just the little amount that I want to use to bet.

 - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Exchanges are the ones that are doing that, not gambling site, reputed gambling sites are many which have been existing since long time ago and not faced the threat, like on exchange.

[swogerino]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

If some of the truly reputable casinos will do that sure this can shaken the basis for a lot of crypto gamblers but the good news is that no such casino needs to do such a thing as their winnings keep getting bigger and bigger and thus there is no need to scam people.

As a gambler I never leave money on any casino except the amount that I have predetermined to play there and except this balance I don't leave anything else.So far no such things have happened despite many big exchanges falling down to bring an even worse crypto winter but I don't think reputable casinos will ever bring us such scenarios as the exchanges have.

[ethereumhunter]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Maybe the gambling industry will be affected by the domino effect in the market and like other industries, the gambling industry will surely feel something.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

If it is an untrusted casino, it may reduce gamblers' trust because the site is already cheating players in the casino. But if it's a trusted casino, the casino will not likely cheat its players and whenever a problem occurs, the casino will try to solve it properly.

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

Of course not. It is not recommended because it is our coins that we should keep in other wallets. After we win, it's better to immediately send it to another wallet and leave a small balance to play the next day again.

  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

I'm fine if the casino doesn't agree to show proof of the money in their main balance because it's the casino's privacy. And as long as the casino has no financial problems and deposits and withdrawals are fine, that's fine too.

[goldkingcoiner]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Not sure how connected and how massive the market of crypto casino gambling is, but I should think it is quite a significant number. And by being interconnected to crypto it obviously means that if anything bad happens to the crypto market, this will reflect on the crypto gambling market. And the other way around is just as true. If you trust your casino then its the same as trusting your exchange. Not 100% secure but better than nothing.

I think decentralized gambling and web 3.0 will be the future for us gamblers. I do not want to trust ANY third party with my money and I want a provably fair and transparent system.

However, for now, at least proof of money would be a nice gesture for casinos to show their players a signal of honesty.

[o48o]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

How do you mena gambling industry speicificly? It's no more part of it then any else industry. Everything is connected when economy crumbles.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

I don't get this, there have already been many casinos that have scammed people, like infamous 1xbit that's still running. Has that affected to anything? No, because people talk freely here and choose trustworthy casinos.

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

Sometimes, yes. And if i want to gamble on some sports that's coming, it's easier when i have already some money in.

  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

They don't have to do that.

[piebeyb]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Casinos actually don't need to show proof of their finances at casinos except for big trading sites, because most people save their money on trading sites to trade all the time looking for profits while in gambling sometimes people just look for fun, make deposits playing and withdrawing money, that's is an easy step to play in a casino so you don't need to put a lot of money in it, I'm just a small part of gamblers who play with small money don't know those gamblers who play with big money, just my thoughts I always play in old casinos that have gone through a lot of crypto moments crash and they still survive today, so I just play there comfortably and safely  

[Wexnident]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Can't really say if it has had one, technically speaking it should, but across the market crashes we've had before, we haven't really seen any casinos flunk from their services to their customers just because of that from what I know.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

The industry itself won't lose it (otherwise a lot of industries would've lost a lot with how scammers work) but said casinos involved would naturally lose all reputation.

 - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

No, not really, I tend to spend everything whenever I gamble if possible. If not then I just leave it there for my next session, I never leave anything big in it anyway. If it ever happens that I do, well I don't, I withdraw it instead.

 - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

As I've said in the thread OP linked, I'm down for casinos being public about their reserves IF they want to and if they aren't breaking any laws, NDAs, contracts, or whatever that they set up in their business. Since we haven't really had an issue with casinos I don't really see a reason why it should be forced though, especially if we consider how as I've said earlier, crashes have happened a lot of times across multiple coins that casinos use and they haven't really had any issues.

[Saisher]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

For new casinos to gain more players and establish their reputation as serious players in the industry should do that, for old casinos like Stake, Duelbits, and other top casinos, they need not do that they have already gained their reputation they are the pioneers.

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Traders and investors can and will stop investing and trading, but gamblers cannot and will not, they always have the urge they just go from one casino to another, if they are not satisfied on the casino that they are playing  

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

The community has seen that and they never connect one casino to another, the issue of one casino is their issue not of the whole industry


 

- As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

There's never a time that my bankroll is not used up it only takes hours before my bankroll turns to zero and I am always tempted to play every time I have money in my dashboard.

[Plaguedeath]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
- As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
- What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Nope, as long as they didn't leave their coins on FTX or any centralized exchanges they will fine.

Scam casinos and legit casinos are different, right now we're currently know 1xbit is a scam casino and there's many trusted casino e.g. BK8, Bitcasino, Sportsbet, Roobet, Duelbits, Rollbit, Fortunejack, Freebitco etc does we need avoid those trusted casino because of 1xbit? Nope.

Nope, leaving your coins on centralized party is stupid.

I can't understand what did you mean.

[robelneo]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

You cannot oblige casinos to do that, because it's never a requirement for casinos to show their assets casino industry are doing great ever since whether the market is doing great or bad, but if ever one casino started the trend big casinos will eat up the competition because they can show more what small and medium casinos can show, and there will be doubts if newly launched casinos show up huge assets and yet will not and cannot pay their gamblers who hit a jackpot, let's just say that reputation and transparency are the factors that will establish casinos, not their assets.

[dothebeats]

Easily is a part of the equation. Some people buy crypto for the sole purpose of gambling, and their purchases add up to the volume and price action in the market. Maybe not on a major scale, but still somewhat enough to cause something in the market.

We've also seen a lot of casino "hacks" and exit scams throughout the years, but it only made the common crypto gambler smarter on choosing his casino. They never lost trust in the idea, they simply just became aware that such things are very possible to happen and that they just have to open their eyes and read a lot more to not be a victim of these scams. Once that's done, it's up to them if they are confident enough to leave their money in a platform that is a hot target of hackers any time of the day.

As for proof of money, I think it's not really necessary, but if you are really wanting to create your name in the industry you have to honor your word and get winners paid, otherwise your platform will just collect dust but never loyal patrons.

[NeuroticFish]

Well, with a casino the house always wins (sooner or later, more or less, not with everybody, those are details)
So a casino that's old enough and the owners were not so reckless and greedy to look for alternative sources of income (DeFi, FTT, name it) should be pretty solid still.

Keep in mind that after their initial investment got ROI, the costs are pretty much only the running and advertising costs, not that big compared with the income.
And for the rest of income and also the user funds the 1BTC=1BTC (or whatever coin was deposited) stands, hence I expect the crypto crash is not a huge problem.


As I just wrote in another post, proof of reserves can easily mean nothing. Plus gamblers should be different than traders; gamblers should really not keep unnecessarily money in the casino. There there's a bigger risk they gamble them away than the casino running away with those.

[Slow death]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

yes, when things like FTX happen the market immediately reacts negatively and as a consequence the price of bitcoin and altcoins drops a lot, this also negatively affects casinos, for example:

if a casino declared that it has 1 BTC something like 25000$ after removing all operating costs

then the price of bitcoin drops to 15000$, this casino no longer has 25000$, it will only have 15000$ which means that even a gambler who has 5000$ to bet will be afraid to bet in this casino that has 15000$ and another problem it also appears in the operating costs of the casino, if a casino spent 3 BTC to pay wages to employees, and more other things, with the fall in the price of bitcoin this casino will spend more bitcoins in the operating cost

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

the industry will not lose confidence and do you know why? because there are many people with amnesia in this market, even when a big scammers run some casino and then disappear and then reappear with another casino people will continue using that other casino, that is the crypto world where amnesia is what everyone else has. so don't worry because the industry won't be rocked by scam cases

- As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

a big NO, for me as soon as I have some profit I withdraw my money from the casino, the casino is not a wallet that's why you shouldn't keep money in the casino or on exchanges

- What would gamblers think if a casino does not agree to show proof of money from new and old casinos

people would think that the casino is unreliable, why would a reputable and reliable casino refuse to show how much money they have? why would they hide such important information? for me it would make me afraid to use the casino

[Betwrong]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 

No, I don't think so. I'm sure, reputable gambling sites can provide with the proof of money they are holding in reserves, if needed.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

No, it will not. It's a very big industry, and if one or two big casinos scammed their players, it would make the news, and probably millions of gamblers would withdraw their money from online platforms immediately, but hundreds of millions would remain.

- As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

These days, I do not, but often, in the past, I used to keep on a gambling platform much more than I could easily afford to lose. I've changed that approach only in March this year. I didn't lose any money, but, I admit, it was a reckless behaviour on my side.

 - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

 
If asked by the authorities and didn't comply, such a casino would lose its license, and will lose its clients quickly after that.

[qwertyup23]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

On the first question, gambling establishments are somehow part of the domino effect on what happens in the market. Given the amount of resources that are being used daily by gamblers in online gambling websites, a crash thereof would result to a serious effect on the market.

On the second question, the industry would definitely lose their players as soon as they are involved in a scam. Like what I previously mentioned, online gambling companies have to develop and establish a trust with its players. Once they break such trust, words will spread out and they will definitely lose their entire population with this issue. Again, it takes years to build a reputation and only a matter of minutes to destroy it.

On the third question, no I do nor use any gambling websites to store my coins. Since there had been issues about storing your coins in an online wallet, they are prone to scams which can be potentially risky on my end; and

On the fourth question, I guess it does not matter as much before but it would definitely matter now. Given that there had been ongoing scams about proof of money to gambling websites, players would be more careful this time and they would choose a website that would lay all the cards possible to avoid the risk of them losing their money in the process.

[bittraffic]

We are just fine without proof of reserves though. The competition between casinos will already be a fight for survival and one scam accusation that isn't resolved can entirely ruin the casino's reputation.

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

There are users a little guilty about storing coins on casinos but like me, these coins are just waiting for the right match to bet. And it could take weeks to months.

[serjent05]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Yes I think that the gambling industry is part of the domino that is affected by what happens in the market.  For example if in an incident that there is a huge crash in the market, the profit of a casino will be affected because the crypto that being wagered on the casino will have a lower value.  Aside from that player that is greatly affected by the market crash will rather save the remaining funds to invest and make profit than gambling it and lose.  Players don't mind spending their extra money to gamble but they are a bit thrifty when they have just enough funds for their needs.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

Definitely, when one used to be reputable gambling site become rogue and scam its player, other player will be affected and somehow become hesitant to play even though they are playing in a different casino.

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

No, I do not keep my coins in a gambling site.  I always withdraw after my session and just redeposit if I wanted to play again.

  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

If there is a legal request for a casino to show its proof of fund and the casino does not agree then player will have a doubt that the casino has the capability to pay players if they got huge wins.  And somehow may avoid that casino.

[cabron]

The crypto-gambling industry is not likely to be affected. We don't see any casinos shutting down yet If there is we would have known but instead we still keep playing our coins despite the bear market.

In order to prevent scam casinos and users from getting scammed, it may actually work if the gambling regulations will require casinos the proof of funds. More unlicensed casinos will come out though as the effect of the mandatory.

[coin-investor]

The crypto-gambling industry is not likely to be affected. We don't see any casinos shutting down yet If there is we would have known but instead we still keep playing our coins despite the bear market.

In order to prevent scam casinos and users from getting scammed, it may actually work if the gambling regulations will require casinos the proof of funds. More unlicensed casinos will come out though as the effect of the mandatory.

The gambling industry is not yet regulated but to gain the trust of the gambling community, casinos acquire a license and that is the only proof that they can show the gambling community that they are legit, but if the license issuer will require to include proof of assets before they issue license, then casinos will have to provide this to get or renew their license, but the license issuer can opt not to show assets of the casinos that are applying to protect their business.
You can oblige casinos on their own to show proof of money or assets.

[uneng]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

No. Gambling industry is a sustainable sector of crypto universe, if not the most profitable one. Casino owners don't have to get involved in pump and dump schemes to make profit. Most casinos don't even have native tokens, they simply make use of the alternatives the market disposes.

All the casino needs is a large bankroll to cover expenses and gamblers' winnings on short run. That is what is going to guarantee them profit along the time and they know it. It wouldn't make any sense if they sacrificed this money for any futile reason, compromising their future earnings and reputation.

[Jemzx00]

Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Yes, they'll also be affected by how the current market is as they are also a business. However, I doubt that there'll be any major effects on most trusted casinos, especially old ones as what price bitcoin is it will still be 1BTC = 1BTC

Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

Yes and no. Yes, as people will tend to be more anxious if more and more casinos will go down. No, as those casinos are not related to other casinos.

As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

No for most of my coins and only those that I'll gamble with. Just as what theymos noted on the forum, "Reminder: do not keep your money in online accounts"

What would gamblers think if a casino does not agree to show proof of money from new and old casinos

For me, I don't mind if they won't be able to disclose their funds for their casino. They have the right to not disclose this information to the public not until they needed to such as if there will be accusations made on the platform.

[gantez]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

There is nothing wrong with this if casinos will do this. This will show sincerity on their part and will give trust to them. This can become a way to know your casinos like they do with customers called kyc. This is good to do but it may still not be a solution for it. Some casinos can declare money they have but all lies just for gamblers to follow them and when the winning happen the lies will be exposed. If this declare will happen they should have money bigger than potential of wager money. This will help in stable the casino from scamming people and government should regulate it and have insurance cover

[electronicash]

Casinos are still earning unlike the spot traders since the bear market. None of the casinos so far come out saying they have invested to FTX.

The casinos that cheated or have scammed still exist even when its reputation is also tainted, 1xbit still managing campaigns in bitcointalk. No signs of them part of the falling domino.

[bitcampaign]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

I'm interested in the discussion in this thread, actually this problem is easy to understand, the problem mentioned by the OP is FTX while FTX is an exchange site and the OP talks about casinos, actually from here it's already a different exchange with casinos, I think also from the way it works they are already different and why ask a casino to do the same with an exchange site to publish their finances, obviously this is weird and sounds like a joke

[Yogee]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Somehow.

Responsible gamblers who lost money from their crypto trades or investments because of the bear market will likely spend less on gambling.

It just so happen that crypto casinos are also  centralized platforms that handles user deposit and winnings so it's not surprising proof of liquidity is now being asked.

[savetheFORUM]

Casinos actually don't need to show proof of their finances at casinos except for big trading sites, because most people save their money on trading sites to trade all the time looking for profits while in gambling sometimes people just look for fun, make deposits playing and withdrawing money, that's is an easy step to play in a casino so you don't need to put a lot of money in it, I'm just a small part of gamblers who play with small money don't know those gamblers who play with big money, just my thoughts I always play in old casinos that have gone through a lot of crypto moments crash and they still survive today, so I just play there comfortably and safely  

We think it's not necessary because we never saw that thing before but it's also hard for the people to trust a gambling site not until this site remains for a long time and prove that they are not a scam although scams can still occur even after they show how much money they hold.

I guess it's really unavoidable. For the small gamblers, we are not threatened of what happened with the exchanges lately because like you said we don't store money and deposit large amounts but for those who gamble heavy, I think they are now going to have a doubt so the answer to the op's question would be yes, it really can cause a domino effect.

[Silberman]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

It would not surprise me if we saw some casinos facing economic problems during the next months, however as long as they do not scam their customers then there is no reason to panic, we have seen in the past casinos closing their doors and giving their gamblers months to get their coins out while not accepting new deposits, so as long as their bankruptcy was managed in this way I think no one will panic, but if they simply disappear and run with the funds of their clients this could have a negative effect in the market if the casino was a famous one.

[TimeTeller]

Casinos are still earning unlike the spot traders since the bear market. None of the casinos so far come out saying they have invested to FTX.

The casinos that cheated or have scammed still exist even when its reputation is also tainted, 1xbit still managing campaigns in bitcointalk. No signs of them part of the falling domino.

That is true, there has been no rumor that a certain casino is part of the FTX failure or lost their funds from this exchange.
If there's any, they may be handling it very well or not very significant in amount that can cause their bankruptcy.
Right now, let us be grateful that even with bear market, this gambling business seems to be earning good.
For now, it is advisable to play on top and reputable casinos, so in case of big winnings, they can always provide it to the user.
Especially these days, because everyone has their own contests during this World Cup, and some are offering high rewards and everybody wants to get a share of it.

[Fortify]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Not at all. Only legitimate gambling operation that has head offices in a country where the rule of law is operating to a reasonable standard and courts enforce action. While asking for KYC documentation is a good indicator that they live in a more sturdy jurisdiction, it can in fact be used by scammers to obtain access to very sensitive private documentation, so you really need to be wary of who you are handing such important information. In the earlier years of crypto it was definitely more expected and even desirable to be a totally anonymous setup, but banking regulators all over the world have definitely taken it seriously recently. You'll often see American authorities pressuring and being able to extradite gambling owners who fall foul of US laws (a huge overreach in some circumstances)

[blockman]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

I don't think so, too many bear markets have to the market, and the gambling industry still stands a firm stance despite of those.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

Definitely, a casino that's dishonest isn't going to be trusted by many players. If they runaway with the money, they're bound for closure because they're going to hide from the public.

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

No, definitely not. Like in exchanges, only deposit what you will gamble.

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Personally, I don't mind looking at that. But those with trust issues, don't gamble from mostly new casinos.

[crzy]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Gambling industry might be affected as well.
Gamblers still trust the site they are playing with, so far no issues with the top site being closed or scammed their players.
I don’t store any money at any gambling site, I always withdraw it after playing especially if I have my winnings.
Show of proof is not necessary but its good if the site can release just to give peace of mind for their players.

[agustina2]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

The gambling industry is one of the big industries that still survives whatever the worst situation we have.

It's because lots of people really want to gamble whatever their purpose is. We all know that the interest in gambling continues to grow amid the long-year pandemic that even though most physical casinos are not operating, that's not even a problem. Also during that time, most stocks are falling but still gambling just continues to grow. And lastly, during the red days or bearish status in crypto, nothing changed in the gambling industry.

I can't think of a situation where the gambling industry will fall.

[serjent05]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

No. Gambling industry is a sustainable sector of crypto universe, if not the most profitable one. Casino owners don't have to get involved in pump and dump schemes to make profit. Most casinos don't even have native tokens, they simply make use of the alternatives the market disposes.

They are sustainable until their player runs out of money and stop playing.  So basically a market crash can make a player broke.  Being broke, player won't be able to play in gambling sites.  A casino without a player means bankruptcy for them.  So gambling industry is still at the receiving end of the Domino effect that hapens in the market.

All the casino needs is a large bankroll to cover expenses and gamblers' winnings on short run. That is what is going to guarantee them profit along the time and they know it. It wouldn't make any sense if they sacrificed this money for any futile reason, compromising their future earnings and reputation.

How can they get profit if the incoming profit is lower than the maintenance expenses?  Even with a huge bankroll, it will be depleted once their income doesn't suffice to fund their maintenance.

[Lanatsa]

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

- They might be affected but only into their revenue considering that market is bearish which it had affected their usd or fiat value with their current bankroll or revenue.
- Anything that talks about scamming and running away their users funds would really be having significant impact if we do talk about emotional and trust aspect.
- Never ever on my mind on considering such step.Its always been risky, same goes for exchange platform too.
-There's nothing we can do, if you dont like to play on a site then you could always be having lots of option.

[X-ray]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Gambling was getting affected by that would not so big like another field. Gambling site was not so shady as those scam centralized exchange site who have been stealing multi millions USD from the users.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

There have been so many scam gambling sites already discoreved and did you see the trust by gamblers were decreasing before?

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

I personally will always send my money back to my personal wallet. I will not do the same thing like those stupid traders. Those traders are stupid enough being fooled by centralized exchange site to store their money in the site. The feature like staking was a way by cex to fool them.

  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

You have dozens of sites available. Was not moving to another site?

[Poker Player]

Well, with a casino the house always wins (sooner or later, more or less, not with everybody, those are details)
So a casino that's old enough and the owners were not so reckless and greedy to look for alternative sources of income (DeFi, FTT, name it) should be pretty solid still.

Keep in mind that after their initial investment got ROI, the costs are pretty much only the running and advertising costs, not that big compared with the income.
And for the rest of income and also the user funds the 1BTC=1BTC (or whatever coin was deposited) stands, hence I expect the crypto crash is not a huge problem.

The same argument could be applied to bankrupt exchanges. If instead of making a fool of themselves they had dedicated themselves to attracting clients and charging commissions they would have done better, because they are sure profits, but many are tempted by leverage and pump shitcoins/tokens so that their wealth, at least on paper, rises faster.

In principle I am not worried about casinos operating a ponzi scheme like some exchanges but it is not out of the question. I am sure that for example 1xCrap does it.

[lienfaye]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

I believe yes. Aside from the decreasing value of crypto where their assets are reserves, it also affect their gamblers to spend less in gambling during this time hence less revenue for the casino. But established casinos are able to survive this recession, because they're prepared. Moreover many gamblers are still playing and doesn't let the market situation affect their gambling activity.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

Not really. Many scam casinos are still existing today but it doesn't affect the reputation of the gambling platforms as a whole. It's not a reason to lose the trust of the gamblers.

 - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

No. I only store the money meant for gambling.

 - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

If you have doubt to a certain casino then don't play as there are many options out there where you can gamble with assurance you'll get paid if ever you win.

[Kakmakr]

There are some known "Cold wallets" for some of the Crypto casinos, so it is not a big secret on what kind of reserves some of these casinos might have. I do not know how accurate the information is on this, but it might serve some purpose in this discussion.

I do not think it should be public knowledge, because sensitive financial information like this... should be protected. I would want to see a trusted and independent financial audit be done on the casinos, to validate their holdings... even if this was only done to establish trust that the deposits are safe.  

The auditors should not reveal the actual financial reports.... but they can just confirm that the money in the casino, reflect the money that are held in people's wallets.

[Pierre 2]

I think its obvious gambling will be affected negatively under bear markets although its very hard to claim that gambling businesses themselves are damaging market. People use crypto in online casinos because its easy to do. It is just cheap option. Actually betting and winning through crypto, and getting paid through crypto means you are activating markets. I see opposite - gambling businesses are beneficial in crypto space.

[piebeyb]

Casinos actually don't need to show proof of their finances at casinos except for big trading sites, because most people save their money on trading sites to trade all the time looking for profits while in gambling sometimes people just look for fun, make deposits playing and withdrawing money, that's is an easy step to play in a casino so you don't need to put a lot of money in it, I'm just a small part of gamblers who play with small money don't know those gamblers who play with big money, just my thoughts I always play in old casinos that have gone through a lot of crypto moments crash and they still survive today, so I just play there comfortably and safely  

We think it's not necessary because we never saw that thing before but it's also hard for the people to trust a gambling site not until this site remains for a long time and prove that they are not a scam although scams can still occur even after they show how much money they hold.

I guess it's really unavoidable. For the small gamblers, we are not threatened of what happened with the exchanges lately because like you said we don't store money and deposit large amounts but for those who gamble heavy, I think they are now going to have a doubt so the answer to the op's question would be yes, it really can cause a domino effect.

as long as we never store much of our crypto money in casino sites i think it will be safe, just make a deposit play and withdraw
don't keep too much crypto on exchanges or on any online sites keep it in a wallet where you are in control keep the wallet key because it will make you feel more secure, when i win a game i often withdraw profits and leave my capital to play again that way it can be done apply by everyone

[Yatsan]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Definitely not, people here are just escalating what happened and are generalizing in this industry. Well, it is indeed better to prevent than to cure it once things are late but if you'd be worried of everything, it qould be better for you to leave I guess? This industry in the first place is risky. The moment you've invested in any form, expect that there is a higher tendency for losses to occur. Problem with what happened is that there is negligence, on the part of the owners of the exchanger. So now, people are demanding for gambling sites to show their Balance to give players assurance. It would be fine if casinos would also do so, but if not we cannot blame them;it is a running business as well. So if you're that worried then wait for casinos who'd show theirs, for your peace of mind.

[traderethereum]

If something were to happen globally, then all industries would be affected, not just the gambling industry, because it would impact everyone.
The gambling industry will not lose the trust of gamblers even if one or two casinos cheat players because, of course, there are still many casinos that are trusted and will not cheat their players.
I would not keep my coins on a gambling site for long and I would also do that on an exchange because it is very risky.
The casino has the right not to show proof of money to its members because if the casino can pay them, there won't be a problem.
But it's different if, one day, the payment from the casino to the winner starts having problems. The members may need to ask the casino about it.

[Strongkored]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

It only affects gamblers who use the exchange, namely FTX as a place to store their money but if there is an effect it is only temporary until trust returns from people to keep gambling and using cryptocurrency

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

We've seen that happen, gambling websites that deceive players but don't affect them at all because the money that is taken away is not like in exchanges where the value is very high, so gambling websites that cheat will not reduce the trust or interest of gamblers, it's just that they will be more careful be careful when choosing which gambling website they will choose to play and entrust their money

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

No, I have never, and actually there is no reason for players to leave funds there, because on average gambling websites already have a payment option where the transaction fee is very cheap, so it will be safer to always withdraw unless the value is not too significant, for example, only a few tens of dollars

  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Maybe gamblers don't even think about it too much, because what is on their mind is how to find a gambling website that is truly trusted and happily play there without any doubts.

[coinerer]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Gambling is a major addiction.  And no problem can stop a gambler from gambling. Millions of gamblers are still gambling and profiting.  No one is hesitating to bet especially on the World Cup . So I don't think that FTX crush gamblers can have much effect on gamblers

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

Reputable casino sites are not affected by any bad news.  Because their customers trust their platform enough that at least they won't scam.  This is their great strength to keep their casino fresh and active

 - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  

It is never okay to use it as a wallet on gambling sites.  Because if you keep your coins there you will want to gamble again and again and you will lose everything by gambling.  On the other hand it is more risky.  Personally I wouldn't do it

[Mauser]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

No hopefully the gambling industry is not going to be affected by the recent turmoils. We have already enough problems with the FTX bankruptcy and don't need another crisis on our hands. If all gamblers would withdraw their money at once and nobody keeps on gambling then of course the system would collapse. Do we really want to see all the casinos on their knees? I don't.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

Unfortunately yes, if a major company in the sector turns out to be a scam than this will affect all the other companies as well. This will probably only be short lived though. Once the gamblers see that the other casinos keep operating normally and are not closing down shop things should normalise again. These crisis in financial markets are soon forgotten when prices start rising again. There have been bankruptcies in the past and industry always recovered afterwards.

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

I have some money left at the casinos, but I wouldn't call it storing them there, rather this is my usual gambling bankroll I am using each month. Whenever I make a decent win than I am going to withdraw some of that money. This is not only about security reasons to not leave too much money at the casino, it's also a control for myself to not directly gamble again with the money I won. Leaving some money in the casino seems fine and you save up on the transaction fees to always deposit and withdraw every time you want to gamble.

  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Depends on how questionable the casino really is. If the casino has been around for several years and you never had any issues in the past of withdrawing your winnings than I don't see any problem here, if the casino is very new than I would be more cautious. It also depends on what kind of customer I am. In case of being a whale who wants to deposit thousands of Dollars than it might be worth to check the financial situation first. In my sitatuion with betting only small amounts I don't think the casino would respond.

[QueenVera]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

I don't really think it is really of a necessity asking a gambling site to show prove of their holdings because of what is already happening in the crypto Industry.
Casinos already have to acquire a license before operation and that alone shouldngain the trust of the gambling community, and the license issuer I'm sure would have asked for a prove of their holdings but wouldn't have to make that public fir the sake of the safety of the gambling business or site.
With regards to your questions,
All crypto based businesses with crypto  casinos isn't exempted, definitely should experience the heat from the bear market but since gamblers are still gambling,then it's still a win for them.

Gamblers over the years still gamble despite news of some casinos scamming their players, I think gamblers treat each casino as a sole and don't relate a casino to another

I basically don't leave any money in any gambling site because I personally have trust issues, so I make deposit whenever I want to okay and make a complete withdrawal when I'm done.

[Oasisman]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

As far as I know crypto gambling industry does not really contribute much to the current market slump.
Scammers are everywhere, if one or two huge crypto casino run away with their users ' money, I don't think it would affect the other well established casinos, in fact, it could be a huge advantage for the other crypto casino, because these users will potentially jump on to their website.
Lastly, storing your cryptos on a gambling website is much worst than storing it on an exchange, though they both are not advisable.

[irhact]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

I don't think this is advisable, there's an update on the forum that remind users to take their coins off online sites and casinos are online sites. Casino are also centralized platforms and liable to hack which will result to lost of fujds kept on the platform and since that area of the industry isn't regulated meaning casino owners can run away with customer funds and nothing will be done.
I notice most online casino don't have any face representing the casinos yet they're getting huge support which is unlikely for them to run away since they're profiting but if the casinos get affected with low turn out of players then we could see a case of scam very soon.

[aioc]

The gambling industry has proven time and again that they will still be good and still going to be better whatever happens in the market, just time last quarter of this year I cannot keep up with the number of casinos that are being launched almost every week there are new casino players and old casinos keeps launching giveaways and contest and now that we are in a World Cup season many sports betting sites are vying for the shares of the market from bettors.
The industry is one of the stables in the Cryptocurrency sphere it will continue to be so because gamblers will keep gambling whatever the market condition is.

[piebeyb]

because gamblers will keep gambling whatever the market condition is.

it is real because gamblers will not be affected by the current market price all they know is to play and win then withdraw their money in the casino, no matter if the crypto price goes down in their mind is doubling their crypto amount it is already part of the win too profit sometimes there are also some of them playing with fiat money to escape crypto values

[virasisog]

Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

The market situation has a huge impact on the gambling industry yet firm casinos could still continue running and survive the market situation. They could stilk continue working because they have alternative ways to deal with three bearish seasons.
 

Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

This has been happening for a long time. There are scam casinos that run away after taking the gambler's money but it doesn't affect the reputation of other huge casinos. It could just spread more awareness to gamblers to be skeptical in choosing trusted casino sites.

As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

As a gambler, I only store the funds that I will use to gamble again but as much as possible, I usually withdraw my profit because the risk of hacking and losing my funds on a certain site will always exist.

What would gamblers think if a casino does not agree to show proof of money from new and old casinos

That has a huge impact on the trust rate of the site. I still prefer a casino that promotes transparency.

[Silberman]

The gambling industry has proven time and again that they will still be good and still going to be better whatever happens in the market, just time last quarter of this year I cannot keep up with the number of casinos that are being launched almost every week there are new casino players and old casinos keeps launching giveaways and contest and now that we are in a World Cup season many sports betting sites are vying for the shares of the market from bettors.
The industry is one of the stables in the Cryptocurrency sphere it will continue to be so because gamblers will keep gambling whatever the market condition is.

While there is not really any industry that is recession proof, the gambling industry is one of those industries that can face almost any market condition and still be profitable, they have a product which does not spoil, does not need to be transported all over the world, it is always on high demand, it is exciting and it could even make you money, so with a product with those characteristics then it is clear that even if the market is not doing well right now the gambling industry can easily resist it and wait until better times come.

[Cling18]

because gamblers will keep gambling whatever the market condition is.

it is real because gamblers will not be affected by the current market price all they know is to play and win then withdraw their money in the casino, no matter if the crypto price goes down in their mind is doubling their crypto amount it is already part of the win too profit sometimes there are also some of them playing with fiat money to escape crypto values

There are still other alternative ways so players can play safely during despite the market situation. They can use fiat and stablecoins so they won't get hit by the value of cryptocurrencies which I think is still a good escape from the market. Gamblers will still find ways to gamble and the market condition is not a reason enough to handle them. We have been through this kind of situation before and we have seen how the gambling industry survived.

[Yaunfitda]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

No, I don't see the Gambling Industry as part of the problem, for sure we know that casino's have the edge, and that's why they will not risk running out of funds. And they are also capping the amount of money that you can gamble, so I doubt that it will just simply crash like FTX or whatever exchange it is.

No, I don't used gambling sites to store my coins, and besides, gambling sites also knows that we can used them to mixed coins so they are smart not to let anyone uses their platform for that purposes. So you have to used your coins and gamble there. And again, if you just store them, you can't simply withdraw those, it's like you have to bet x1 of the amount you deposit. So there is no used of storing it to these gambling platforms.

[seoincorporation]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

I don't think so because the casinos doesn't have their money backed with tokens, they are holding coins like BTC, ETH, LTC...

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

That already happen in the past, i can remember the name of the casino, but they walk away with 2000 bitcoins from the investors, and when users try to withdraw there was a pop up saying "See you in Mexico".

But that didn't affect the whole gambling industry, it was just 1 scam more for the list.

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

No, holding the coins or exchanges or casinos is a terrible mistake by the users. I follow the philosophy of "Not your keys, not your coins"

  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

That sucks... the only option for the users is to trust the casinos and trust the licence.

[Hispo]

I do not think it is, because there is a key difference between exchanges, passive income wallets and crypto casinos.
In short, the business behind exchanges is to provide liquidity for pairs and also some tools for traders, also the passive income services like BLockfi and Celcius focused basically in the custody of other's money in exchange for money (high yields). Casinos are different, because their business does not goes around providing passive income or the custody of their clients money in the long term. Yes, they are supposed to have a strong security and have liquidity but the fact they do not promise passive income means they do not need to venture into risky businesses or trade recklessly (as Celcius did) in order to fulfill their promise to their clients. 

[Betwrong]

~ I do not think it should be public knowledge, because sensitive financial information like this... should be protected.

I agree with this. Once a big casino declares its funds, it becomes a target for criminals around the world. Info like this shouldn't be public.

I would want to see a trusted and independent financial audit be done on the casinos, to validate their holdings... even if this was only done to establish trust that the deposits are safe.  

Something like this is done all the time, no? I think online casinos are constantly audited by government authorities and/or other 3rd parties, but I'm not 100% sure of it.


In any case, there's no "Domino Effect" for online gambling industry caused by the current fud is happening now, nor will be happening in the near future, that's what I'm sure of.

[coolcoinz]

I don't agree that there's a visible domino effect at all. The bankruptcies are all linked to scams because that's how you call companies that take your money and tell you they're going to keep it safe but really buy yachts and apartments with it. This is textbook scam and there should be no leniency and no attempts to explain them or bail them out.

IMO a domino effect bankruptcy happens when a legit company exposed to a bankrupt one goes down because they realize their investment is lost or frozen in the bankruptcy proceedings.
When a scam company goes down and exposes a scam in another company, it's not a domino effect but a cleansing!

[maydna]

because gamblers will keep gambling whatever the market condition is.

it is real because gamblers will not be affected by the current market price all they know is to play and win then withdraw their money in the casino, no matter if the crypto price goes down in their mind is doubling their crypto amount it is already part of the win too profit sometimes there are also some of them playing with fiat money to escape crypto values

There are still other alternative ways so players can play safely during despite the market situation. They can use fiat and stablecoins so they won't get hit by the value of cryptocurrencies which I think is still a good escape from the market. Gamblers will still find ways to gamble and the market condition is not a reason enough to handle them. We have been through this kind of situation before and we have seen how the gambling industry survived.

Choosing fiat or stable coins can be a solution to avoid market fluctuations. The ever-moving value of cryptos hits those who still exercise those options. But a gambler will not think about market conditions and will always use their chosen coin. And some gamblers will not gamble if market conditions are declining and instead concentrate on increasing the number of coins. This is about how we can anticipate it; every gambler must have his own way.

[Reid]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

If it deals with cryptocurrencies, then I think yes.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
   money they have that belongs to the gamblers?

Gamblers will just have to take care of themselves. That's the first rule, find a reputable online casino then stay with it. Looking for another just adds to the risk of your money getting rekt.

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

No, that's worse than keeping it in an exchange. I'd rather take the effort of depositing every now and then.

  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

It becomes fishy. They may lose players/gamblers if they will not follow the protocols or whatever is being asked. Showing it won't hurt them, if not there must be something they are trying to get away with. Tax, maybe?

[Darker45]

Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

If there is a crypto gambling company that kept their funds in whatever platform that filed bankruptcy recently or those that froze withdrawals and went insolvent or bankrupt because of it, then the crypto gambling industry is part of the domino effect. Otherwise, I don't think they are; business runs as usual.

Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

A good amount of trust must be lost. But I'm sure crypto casinos would come up with a way to assure their players that their funds are kept safe. They might also show proof of reserves.

As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

Yeah, but only small amounts, those that are for betting only. I don't store coins for long-term saving outside non-custodial wallets.

[Silberman]

I don't agree that there's a visible domino effect at all. The bankruptcies are all linked to scams because that's how you call companies that take your money and tell you they're going to keep it safe but really buy yachts and apartments with it. This is textbook scam and there should be no leniency and no attempts to explain them or bail them out.

IMO a domino effect bankruptcy happens when a legit company exposed to a bankrupt one goes down because they realize their investment is lost or frozen in the bankruptcy proceedings.
When a scam company goes down and exposes a scam in another company, it's not a domino effect but a cleansing!

Exactly, scammers are looking around and they are realizing that there is not much money for them to make now that the bear market has consolidated itself, so they are just exit scamming their customers and investors, and if any company was dumb enough to expose themselves to those scammers then they have no one else to blame but themselves, as the community has always warned against the dangers of investing in centralized projects as they can go down at any moment.

[harizen]

Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Definitely no as a whole. The gambling industry is so vast that regardless of what's happening in the market, the industry will just continue to grow. However, since the competition is tough, some gambling sites might experience financial problems.

Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

No. One or two casinos turning into scammed won't be a big reason for gamblers to lose their trust in the gambling industry. I mean how can these 2 scammed casinos will bring a negative affect on the big gambling industry? Gamblers will still do their usual but this time will be more careful in picking trustworthy gambling sites.

As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

Not for storage purposes to the point that I will not use those funds.

All my funds stored in a gambling site are meant for gambling.

If I'm fuck*d up and that site turned into a scam, that's the risk I accepted at first.

[kawetsriyanto]

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

No. In reality, there were already many scam casinos but it won't impact so much on the gamblers. People always play online casinos, but they become more selective to choose trustable online casinos.

- As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

A gambling site isn't a proper place to store coins. It is the same as a centralized exchange, we can't control our coins there.
If the gambling site turns out to be a scam, we will lose all our coins. So, always choose private wallets to store our coins. If you have a hardware wallet, it is a more recommended place to keep the coins for a long time.

[Poker Player]

A gambling site isn't a proper place to store coins. It is the same as a centralized exchange, we can't control our coins there.
If the gambling site turns out to be a scam, we will lose all our coins. So, always choose private wallets to store our coins. If you have a hardware wallet, it is a more recommended place to keep the coins for a long time.

I agree and I think that's what most of us on the forum think, whatever you save on your HW or whatever system it is but you control your private keys. This comes to point as just yesterday BlockFi filed for bankruptcy.

What happens is that if you are a gambler or you trade, it is normal that you have a certain amount in the exchange or in the casino. If you play poker, for example, you should have a bankroll, which depending on the modality can be 50 or 100 times what you can lose in a tournament or the maximum in a cash hand. So, if the site turns out to be a scam, you lose what you have as well. It is not feasible to go depositing and withdrawing every time at the minimum because of the fees and the hassle involved.

[davis196]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

No. It's obvious that the crypto gambling industry has nothing to do with the crypto winter or crypto exchanges going bankrupt.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

We have seen multiple cases of casinos scamming their players and/or turning into exit scams. So far, the overall trust in the crypto gambling industry hasn't been damaged that much.
 

- As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

No. That would be a really dumb thing to do.

- What would gamblers think if a casino does not agree to show proof of money from new and old casinos

I guess that some of them will become suspicious.

[fortunecrypto]

The gambling industry is the most stable industry within the Cryptocurrency industry, bear or bull trend many gamblers will continue to gamble, some of these gamblers are not into trading and they got into Cryptocurrency because of gambling, there are more new casinos coming in, when Cryptocurrency started there are so many coins launched almost every week and when the ICO has conceptualized so many projects adopted it, now the trend shifted to Cryptocurrency, there are so many Cryptocurrency casino launching.
This new trend will continue to flourish because it's a billion-dollar industry and there are millions of gamblers.

[swogerino]

A gambling site isn't a proper place to store coins. It is the same as a centralized exchange, we can't control our coins there.
If the gambling site turns out to be a scam, we will lose all our coins. So, always choose private wallets to store our coins. If you have a hardware wallet, it is a more recommended place to keep the coins for a long time.

That is correct.While I believe many of the exchanges to go scam people are usually very well thought inside jobs exit scams I rarely have seen a reputable casino going offline directly without valid explanations.With this I don't mean to encourage people to keep their money in a casino as a casino is still a third party being run by people you have no control over so the best thing to do is to keep your money in non custodial wallets like Electrum and Exodus as desktop wallets with Electrum being more secure (this is only my opinion).The best of course is if you have a lot of crypto to buy a hardware wallet and keep them there.

[iv4n]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

No. It's obvious that the crypto gambling industry has nothing to do with the crypto winter or crypto exchanges going bankrupt.

Definitly no! FTX has liquidity concerns and facing allegations regarding the misuse of customer funds. Crypto winter has nothing with that, as we can see other exchanges are working fine.

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

We have seen multiple cases of casinos scamming their players and/or turning into exit scams. So far, the overall trust in the crypto gambling industry hasn't been damaged that much.

You are right, but those scams can't be compared with exchanges, simply those casinos scammed people for millions of dollars and when it comes to exchanges the numbers are higher, +$100 million and in some cases billions.

Not sure if it's important, but there's always some very shady crypto casino around.

- As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

No. That would be a really dumb thing to do.

Well, I always have some money in some casino! When we choose a casino where to play, shouldn't we have enough trust in them? We plan to make a deposit and gamble, and leaving some amount there is perfectly fine, after all, we shouldn't deposit more than we can afford to lose, it's gambling.

- What would gamblers think if a casino does not agree to show proof of money from new and old casinos

I guess that some of them will become suspicious.

Well, this is a tricky part. Many of us don't like KYC and all those regulations. If crypto casinos became fully regulated KYC will become mandatory, we will lose anonymity and all other things that make the crypto gambling world so attractive.

[FatFork]

It's pretty simple, gambling is a billion dollar industry and there are many people involved in it and when that happens you need a currency, not only that but a secure one, and that's where cryptocurrency comes in, it's a secure and fast way of transferring value across the globe. Cryptocurrency is the future of gambling, it's a secure way to transfer value and it's much faster than any other form of payment.

Therefore, any negative changes that occur in the cryptocurrency market do not diminish its value when compared to other forms of online payment, especially when it comes to the gambling industry.

Also, one or two casinos turning into scams will not by itself undermine the public's faith in gambling industry as a whole, because there are so many other casinos that are still operating and providing a quality services. Although gambling platforms come and go, gamblers will still gamble. They might be more selective about where they put their money and place their bets though.

[Fivestar4everMVP]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Well, indirectly, the online gambling industry is part of it since they accept crypto for both deposit and withdrawer, gamblers can also gamble and place bets with crypto, so indeed, the online gambling industry is part of the crypto community though not directly.

 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

I don't think the gambling industry will lose the trust of gamblers if this happens, this is because casino are not like exchanges where traders leave money on, first, it is even stupid to leave huge amount of money on casinos when you are ready to play or gamble with it, many casinos have closed and gamblers lost money, but this have not affect the industry as it continues to grow, casinos are different from crypto exchanges.

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

Like I said earlier, it is stupid to even do this, it is absolutely not advisable to leave money you aren't ready to use on casinos, I would never do such.

  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Personally, I wasn't expecting any casino to show their proof of reserve since their business model is quite different from exchanges, so I personally would not look down on casinos if they refused to show their proof of reserve.
But my opinion is that, any casino that will be the first to show their verifiable proof of reserve will definitely gain more trust and more customers than the rest.

[Betwrong]

I don't agree that there's a visible domino effect at all. The bankruptcies are all linked to scams because that's how you call companies that take your money and tell you they're going to keep it safe but really buy yachts and apartments with it. This is textbook scam and there should be no leniency and no attempts to explain them or bail them out.

IMO a domino effect bankruptcy happens when a legit company exposed to a bankrupt one goes down because they realize their investment is lost or frozen in the bankruptcy proceedings.
When a scam company goes down and exposes a scam in another company, it's not a domino effect but a cleansing!

Exactly. Where's the news about crypto casinos closing down around the world? I can't find even a single news like that, but what is more important is that even if one or two casinos were going out of business it would be very far from "The Domino Effect" suggested in the OP.  

Overall I think that crypto currencies are already recovering from the latest shock, and crypto gambling, it was never affected by this FUD caused by the FTX crash.

[Silberman]

A gambling site isn't a proper place to store coins. It is the same as a centralized exchange, we can't control our coins there.
If the gambling site turns out to be a scam, we will lose all our coins. So, always choose private wallets to store our coins. If you have a hardware wallet, it is a more recommended place to keep the coins for a long time.

That is correct.While I believe many of the exchanges to go scam people are usually very well thought inside jobs exit scams I rarely have seen a reputable casino going offline directly without valid explanations.With this I don't mean to encourage people to keep their money in a casino as a casino is still a third party being run by people you have no control over so the best thing to do is to keep your money in non custodial wallets like Electrum and Exodus as desktop wallets with Electrum being more secure (this is only my opinion).The best of course is if you have a lot of crypto to buy a hardware wallet and keep them there.

It is easy for some people to think that casinos and exchanges are the same as they both have the ability to store your coins for a long period of time, but in my experience many casinos do not do currency conversion, so if you deposit bitcoin then you withdraw bitcoin, there are others that automatically convert your deposit to fiat and then you can withdraw your deposit in whatever is the equivalent in fiat at the moment in the coin you want to receive in your wallet, so they are not really exposing themselves to the movements of the market as exchanges do, and as such it is way more difficult for a successful casino to disappear just because the market of cryptocurrencies itself is experimenting a drop.

[roslinpl]

Gambling was get into crypto currency mostly after 2017 bitcoin pump market. Because the price of bitcoin was reached to 19k dollars for the first time. The most of the offline casino created their page accepting crypto currency. Because crypto currency had get the attention of most of the people. This also enable the people to get gambling based on the crypto currency as the rewards for their involvement of USD. Million of dollars was involving in the gambling as compared to the trading, because people low to play casino and double their money.

[Fortify]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

I'm confused by what you mean in your fourth point? Are you asking whether gamblers are doing due diligence checks to make sure a casino is liquid before depositing money? It does seem like a good health check, however generally a gambler will be a very short term thinker and somebody who has a tendency to dive right in if they see a great offer to entice them. You'll find that many gamblers deposit as soon as possible and only do research later, usually after they've lost a fair chunk, on whether the casino is a decent place to bet betting. In general on your first point, just like exchanges, there have been several large casinos fail in the past but it doesn't seem to have had a wider impact on the industry.

[Sandra_hakeem]

Why should any sane person decide to use gambling sites to store his worth or value...as in what happens in de-centralized exchange? That's not advisable and would cost any person his life savings or whatsoever he had in there -- to be claimed once they run bankrupt. I believe if any gambler should have some funds in their casino account, then it should be just for an immediate stake.

The whole industry cannot be plague with the effects of one casino folding up with people's money, after a long while. Yunno, the could actually have some fear and take the least possible - preventive measures to avoid making the same mistakes....but with time, they'll get to trust 'em quickly (most especially when they're being paid immediately after winnings, without complain, with more sophisticated means for withdrawal etc....)

Sandra 🧑

[minime0105]

See their is every possibility that gambling website can run down because they are not faithful with their players, to eliminate gambling platforms it started from the complain or negative experiencing from the players, some of the platform take whatever it do, to ensure that their players give them a good record, because the positive reputation of a platform started from the players who visits the sites frequently.

[Finestream]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Casinos actually don't need to show proof of their finances at casinos except for big trading sites, because most people save their money on trading sites to trade all the time looking for profits while in gambling sometimes people just look for fun, make deposits playing and withdrawing money, that's is an easy step to play in a casino so you don't need to put a lot of money in it, I'm just a small part of gamblers who play with small money don't know those gamblers who play with big money, just my thoughts I always play in old casinos that have gone through a lot of crypto moments crash and they still survive today, so I just play there comfortably and safely  

Gambling for fun is way safer than gambling for money. And I think that one thing should be mostly realized by gamblers, and not the other way around. However, with casinos need to show their proofs of finances, or their source of wealth, maybe it’s done just to prove their customers that the games are fair and legal. Other than that, I have not think of other intentions why should casinos should show their financial status.

[makishart]

See their is every possibility that gambling website can run down because they are not faithful with their players, to eliminate gambling platforms it started from the complain or negative experiencing from the players, some of the platform take whatever it do, to ensure that their players give them a good record, because the positive reputation of a platform started from the players who visits the sites frequently.

The domino effect that happened due to the fallen of FTX will be only affecting the interest to gambling. The only problem is the site like FTX was scamming so many people and we can imagine how many of them were active players in the several sites.
They lose their money and they can't play with their money and that's also a huge lose for the gambling site too. As long as the market would able to recover and the new (unique) demand will come but it's hardly affecting the gambling site to run down like so many lending site. The gambling site was a place to play unlike lending site which has strong affiliation with exchange site. I didn't see any big impact to the gambling platform yet the decrease from the demand was happening.

[panganib999]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Gambling as an industry will not be affected by the recent news, although the same argument couldn't be said for cryptocurrency gambling that is already receiving a lot of backlash even before issues with FTX and SBF broke out. There's also an individualist ideology in the gambling industry due to how tight competition is, so if a gambling site comes out as a sham, the others wouldn't be affected that much, you could even argue that some gamblers may switch to theirs, furthering their profits in the process. I also saw a thread last week about a guy using his gambling account in a casino as a means to store his coins, I just think it is irresponsible and could cost him his fortune in the future.

[FanEagle]

Gambling as an industry will not be affected by the recent news, although the same argument couldn't be said for cryptocurrency gambling that is already receiving a lot of backlash even before issues with FTX and SBF broke out. There's also an individualist ideology in the gambling industry due to how tight competition is, so if a gambling site comes out as a sham, the others wouldn't be affected that much, you could even argue that some gamblers may switch to theirs, furthering their profits in the process. I also saw a thread last week about a guy using his gambling account in a casino as a means to store his coins, I just think it is irresponsible and could cost him his fortune in the future.

I would guess that the main reason why crypto gambling world is getting so much attention these days is the lack of security compared to exchanges on most casinos and if hackers can get their hands on exchanges and their funds, then it is damn sure that they can do the same thing with the casinos as well and it is quite important to make sure that would go higher I am not saying that it is paramount to all of our efforts in the gambling world, but it is a big part of it and should be considered heavily.

I know a few places that deals with amazing security, but all of the rest of casinos have the usual cold wallet shit and nothing more, that's not acceptable.

[CryptoHeadlineNews]

 - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

For security reasons, I don't think it's wise enough for a casino to come public to publish how much it owns In its reserve, because doing that doesn't still guarantee users' safety, as a casino who which to scam will still do that even after showing how much own in its reserve. But on the contrary, the FTX crash is a lesson which investors now need to learn from, and henceforth ensure to do due diligence before investing a penny into any new casino token.

[lionheart78]

Gambling as an industry will not be affected by the recent news, although the same argument couldn't be said for cryptocurrency gambling that is already receiving a lot of backlash even before issues with FTX and SBF broke out.

Gambling as an industry may not be directly affected by the recent news but the players who are victims of the said recent news will be greatly affected.  From that, since the fund of these players are affected, their bankroll in playing in gambling establishments or platforms will be also affected.  Thus, the supposed to be 100% budget of gambling players may reduce, and that affects the income of casinos.  As a domino effect, the global revenue of the gambling industry might be affected.

[Silberman]

Gambling as an industry will not be affected by the recent news, although the same argument couldn't be said for cryptocurrency gambling that is already receiving a lot of backlash even before issues with FTX and SBF broke out.

Gambling as an industry may not be directly affected by the recent news but the players who are victims of the said recent news will be greatly affected.  From that, since the fund of these players are affected, their bankroll in playing in gambling establishments or platforms will be also affected.  Thus, the supposed to be 100% budget of gambling players may reduce, and that affects the income of casinos.  As a domino effect, the global revenue of the gambling industry might be affected.

The drop caused by the FTX exchange affected a great deal of traders in the market which were not ready for such an event and they lost a lot of money, so if some of them liked to gamble then it makes sense they will reduce the budget they dedicated to it as now they need to save every single cent in order to cover the losses they have suffered recently, however as long as the casino is managed in a professional way they can resist such a crash and wait until their clients recover and can begin to gamble normally once again.

[harizen]

however as long as the casino is managed in a professional way they can resist such a crash and wait until their clients recover and can begin to gamble normally once again.

Regardless if there's a market crash or not, I don't see a long-time operating casino will really receive some impact in a negative way.

Not all gamblers are traders, and there is no doubt that gamblers will just gamble for their own reason and I'm sure that's not a market-related concern.

The gambling industry, whether fiat or crypto-gambling, will be bigger and bigger whatever the market situation is. Good examples are: when the pandemic hit the world and in crypto, during the long-term bearish market, and the FTX related-issues.

[boyptc]

Let's say there's a demand for the certain number of gamblers that are looking for proof of funds and they have the rights to ask for it. This is good to ask whether the casino is good or not. But most likely, this is going to be asked to the newest casinos.

But it won't change the thing in those casinos because if they've got too many loyal players and have a mutual understanding and trust has been built already.

[Don Pedro Dinero]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

I believe that as time goes on, proof of reservations will be imposed by default for anyone opening a casino, just as KYC regulations will become stricter and stricter.

Here on the forum we have a recent case of someone who a rubbish casino let him win money he couldn't afford to pay.

I won $128,000 and it's been a week waiting for game provider verification

Update: DG7 has since offered me $5,000 USDT on the $131,000 USDT owed to me after they received the results of the provider reviews. At first they tried to say that the providers told them that there are too few players on the site for them to verify the wins, but after I pressed they essentially admitted that I won more than they bring in.

In the end, it is not so surprising that what has happened in some exchanges is also happening in some casinos, so in the long run I think that reserve testing should be imposed.

For the time being and for us, with gambling in reputable casinos, I think we can rest assured.

[Betwrong]

I believe that as time goes on, proof of reservations will be imposed by default for anyone opening a casino, just as KYC regulations will become stricter and stricter.

Here on the forum we have a recent case of someone who a rubbish casino let him win money he couldn't afford to pay.

I won $128,000 and it's been a week waiting for game provider verification ~

I think the thing is that in places where regulators are not corrupted they wouldn't allow a casino to open without proof of funds. I mean, even today. But in places where there's no order, where everything is done through bribes, in those places, even if there were a law about proof of reservations, inspectors would turn a blind eye on the absence of those funds after receiving a bribe.

[danherbias07]

Let's say there's a demand for the certain number of gamblers that are looking for proof of funds and they have the rights to ask for it. This is good to ask whether the casino is good or not. But most likely, this is going to be asked to the newest casinos.

But it won't change the thing in those casinos because if they've got too many loyal players and have a mutual understanding and trust has been built already.

And, let's consider the one truth, gamblers don't really care about this kind of thing.
As long as they can play and gamble their money in a reputable casino then it's a go. We (yes including me) don't really bother about the money they have (transparency of their total reserve), sometimes it just relies on proof by players that the gambling site is legitimately paying up then gamblers will gather in it.
It just takes like a hundred 5-star ratings to be flooded by customers not looking at TOS, the owners' names, or other specific information about them.

[Casdinyard]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Casinos have their reserves for when huge downturns in the economy happens. They are not going to be affected by the economy's collapse, if they would be it would be so minuscule. Of course some of them could go bankrupt given the fact that more and more people will spend money on more important goods than give half a mind to gamble but I expect them to recover and reopen soon as the economy jumps back. We can't get rid of gambling houses no matter how hard we try, and in fact we shouldn't because apart from banks they are good ventures for the circulation of money. As for the issues that concern FTX and their shenanigans I think a number of us have already stated that storing money on casino wallets are the dumbest thing you could do next to storing them in exchanges. Not your keys not your coins as they say.

[Stedsm]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

TBH I have never heard of any gambling site (wherever I've played till date) that they ran away with anyone's funds. No doubt that there are scammers everywhere and even we have some serious allegations against major names, still it didn't erase them out of the markets like FTX (though it's an exchange).

- Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

Well, you go to gambling sites with the money you can afford to lose, don't you? Does this question make sense at any cost? As said, I don't remember any big name that ran away with gamblers' money by shutting down their business all of a sudden. You have a huge available catalog of gambling casinos, choose wisely and diversify your coins on different casinos if you think that a casino may commit some foul play in future.

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

Anyone who would do such thing is stupid IMHO because all you have is your money, and it's yours only when you have it in your non-custodial wallet.

  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

What binds them to show this to gamblers?

[LUCKMCFLY]

Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

If there is a crypto gambling company that kept their funds in whatever platform that filed bankruptcy recently or those that froze withdrawals and went insolvent or bankrupt because of it, then the crypto gambling industry is part of the domino effect. Otherwise, I don't think they are; business runs as usual.

Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers?

A good amount of trust must be lost. But I'm sure crypto casinos would come up with a way to assure their players that their funds are kept safe. They might also show proof of reserves.

As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

Yeah, but only small amounts, those that are for betting only. I don't store coins for long-term saving outside non-custodial wallets.

Well clearly this arises because the effect of FTX made a big hole in the way of thinking of many people, some of the investors who had their BTC there lost, and that is something that is not good for anyone, because of centralism and power is not something that I see very well, I think everyone can survive by playing fair, I think we all know here who did not play fair to get FTX out of the way, however this taught many that having money in an Exchange that The money does not belong to that person but to the exchange, the only thing that belongs to each person is what they own and keep with their private keys, that is where the trick of all this is.

[Reatim]

Let's say there's a demand for the certain number of gamblers that are looking for proof of funds and they have the rights to ask for it. This is good to ask whether the casino is good or not. But most likely, this is going to be asked to the newest casinos.

yes some site does not provide this proof as we gamblers wanted to see this going because this is our money that will be at risk.

and with new site this is important to learn , we don't know their capacity to pay if we won at least.

But it won't change the thing in those casinos because if they've got too many loyal players and have a mutual understanding and trust has been built already.

even long time site here has problem about the funding , there are several casino that faces this issue when the hot wallet wasn't fill for a week or more.

[BigBos]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?

As far as I know, gambling sites will not be affected by the collapse of FTX, crypto coins are an alternative means of betting from Dollars, Euros and other currencies. so as far as any crypto on the market will be the same.
I saw some time ago that the value of gambling money on online sites reached $ 1.8 billion on November 19 last. it will always increase and continue to increase until the final of the Qatar world cup comes, and for those who use crypto as a gambling tool, I notice there is no setback.

- As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

I don't deposit coins like them on gambling sites unless I'm going to gamble with the site.

- What would gamblers think if a casino does not agree to show proof of money from new and old casinos

I understand and understand why there has to be a financial reserve on gambling sites because there are indeed not a few who commit fraud, and when they refuse to show their reserves I think you just have to be careful.

[Betwrong]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

TBH I have never heard of any gambling site (wherever I've played till date) that they ran away with anyone's funds. No doubt that there are scammers everywhere and even we have some serious allegations against major names, still it didn't erase them out of the markets like FTX (though it's an exchange). ~

That's because you are playing on reputable sites, which never intend to do something as disgusting as running away with players money. But overall in the gambling world such things happen quite often. Scammers create copycats of known sites and lure gamblers there with promises of unreal bonuses on deposits, unrealistically good odds on sportsbetting and stuff. Hanging out here on bitcointalk we rarely encounter dishonest behaviour of gambling platforms towards their users(of course I mean the platforms presented here), but we shouldn't forget that in reality there are a lot of scammers in the world of gambling.

[Stedsm]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

TBH I have never heard of any gambling site (wherever I've played till date) that they ran away with anyone's funds. No doubt that there are scammers everywhere and even we have some serious allegations against major names, still it didn't erase them out of the markets like FTX (though it's an exchange). ~

That's because you are playing on reputable sites, which never intend to do something as disgusting as running away with players money. But overall in the gambling world such things happen quite often. Scammers create copycats of known sites and lure gamblers there with promises of unreal bonuses on deposits, unrealistically good odds on sportsbetting and stuff. Hanging out here on bitcointalk we rarely encounter dishonest behaviour of gambling platforms towards their users(of course I mean the platforms presented here), but we shouldn't forget that in reality there are a lot of scammers in the world of gambling.

I completely agree with you on your argument that there are some copycat sites, but such names either go hidden because nobody comes up with their complaints or simply ignores them just because he/she believes it was his fault to send his/her money over there and gamble.
However, I'm known of 1xBit here which has created lots of its own clone sites with different names starting with 1, so whenever I see any website popping up whose name begins with 1, I simply stay away and choose some other reputed names to play at.

[BITCOIN4X]

That's because you are playing on reputable sites, which never intend to do something as disgusting as running away with players money. But overall in the gambling world such things happen quite often. Scammers create copycats of known sites and lure gamblers there with promises of unreal bonuses on deposits, unrealistically good odds on sportsbetting and stuff. Hanging out here on bitcointalk we rarely encounter dishonest behaviour of gambling platforms towards their users(of course I mean the platforms presented here), but we shouldn't forget that in reality there are a lot of scammers in the world of gambling.

Even well-known sites are not spared from accusation or problems from gamblers. Regardless it is proven or not but there is always a risk about any online casino.

Therefore we must remain wise in using casinos and may not make this casino a place to store assets. Casinos are generally centralized, and the biggest fear is that they will cheat the gamblers in the end especially when the casino does not have a good reputation.

[ethereumhunter]

That's because you are playing on reputable sites, which never intend to do something as disgusting as running away with players money. But overall in the gambling world such things happen quite often. Scammers create copycats of known sites and lure gamblers there with promises of unreal bonuses on deposits, unrealistically good odds on sportsbetting and stuff. Hanging out here on bitcointalk we rarely encounter dishonest behaviour of gambling platforms towards their users(of course I mean the platforms presented here), but we shouldn't forget that in reality there are a lot of scammers in the world of gambling.

Even well-known sites are not spared from accusation or problems from gamblers. Regardless it is proven or not but there is always a risk about any online casino.

Therefore we must remain wise in using casinos and may not make this casino a place to store assets. Casinos are generally centralized, and the biggest fear is that they will cheat the gamblers in the end especially when the casino does not have a good reputation.

But that won't work if the reputable casino tries its best to solve those problems because the reputable casino knows that it is related to the reputation they have earned in this forum. But of course, there will be concerns for gamblers, especially those who keep their coins in the casino, because they don't know whether the casino will remain a well-known casino or turn into a casino that deceives gamblers. We must be wise in this matter and not underestimate the little things that might not happen because everything can change in an instant over time.

[justdimin]

Even well-known sites are not spared from accusation or problems from gamblers. Regardless it is proven or not but there is always a risk about any online casino.

Therefore we must remain wise in using casinos and may not make this casino a place to store assets. Casinos are generally centralized, and the biggest fear is that they will cheat the gamblers in the end especially when the casino does not have a good reputation.

It is definitely something that every casino will be hit with, how they respond is the important part. I mean if they respond with proof that there was something wrong for sure, or they respond with fixing, then that is a good casino and there is no problem with that.

However, if they respond with something terrible like not caring about what they are doing, that would be a bad deal and I doubt that it would be solved anytime soon, they will be known as a bad casino, or a scammer. This is why what happens is not the issue, how they respond to it is the clear indicator of a casino being good or not and that matters a lot more than people think.

[LUCKMCFLY]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Gambling as an industry will not be affected by the recent news, although the same argument couldn't be said for cryptocurrency gambling that is already receiving a lot of backlash even before issues with FTX and SBF broke out. There's also an individualist ideology in the gambling industry due to how tight competition is, so if a gambling site comes out as a sham, the others wouldn't be affected that much, you could even argue that some gamblers may switch to theirs, furthering their profits in the process. I also saw a thread last week about a guy using his gambling account in a casino as a means to store his coins, I just think it is irresponsible and could cost him his fortune in the future.

Well, I see this FTX problem as a trigger to take advantage of by the most bearish in the market, it is not a problem that affects bitcoin, but as I have said before in other threads, any problem is the best excuse for them to lower the price of Bitcoin and the whales buy Bitcoin much cheaper, this is something that they cannot measure but it is not impossible to fix so that they can take advantage and push the altcoins down, the casinos are not affected, I think that everyone should have a great backed in fiat or at least in BUSD or USDT, which is the most logical, just as they must have large Bitcoin Wallets.

[Slow death]

- Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

TBH I have never heard of any gambling site (wherever I've played till date) that they ran away with anyone's funds. No doubt that there are scammers everywhere and even we have some serious allegations against major names, still it didn't erase them out of the markets like FTX (though it's an exchange).

there are many scam casinos all over the internet, and they are casinos created just to deceive and steal people's money, even in this forum I've seen many new casinos that appeared and stole people's money and disappeared, I couldn't find all that I saw in this forum, but I found this casino that stole people's money and ran away:

www.playcrash.com SCAM

https://bitcointalk.org/index.php?topic=5394228

https://playcrash.com/cgi-sys/suspendedpage.cgi

I don't know how much money this damn scammers managed to steal, but I imagine that by this time he must have already created another casino to continue with his scam scheme

[piebeyb]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Casinos actually don't need to show proof of their finances at casinos except for big trading sites, because most people save their money on trading sites to trade all the time looking for profits while in gambling sometimes people just look for fun, make deposits playing and withdrawing money, that's is an easy step to play in a casino so you don't need to put a lot of money in it, I'm just a small part of gamblers who play with small money don't know those gamblers who play with big money, just my thoughts I always play in old casinos that have gone through a lot of crypto moments crash and they still survive today, so I just play there comfortably and safely  

Gambling for fun is way safer than gambling for money. And I think that one thing should be mostly realized by gamblers, and not the other way around. However, with casinos need to show their proofs of finances, or their source of wealth, maybe it’s done just to prove their customers that the games are fair and legal. Other than that, I have not think of other intentions why should casinos should show their financial status.

I'm just worried about showing proof of their finances which might invite hackers to hack their casino site, I hope that doesn't happen too because so far there has never been a big case of casino sites being hacked or theft happening, now it's different from what often happens by exchange sites there are always lots of cases of crypto being hacked or theft happening for reasons that are not clear, therefore the difference between casinos and exchanges is very different, so don't just because the FTX crypto exchange case also forces casinos to do the same with exchanges

[safari88]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

[passwordnow]

I'm just worried about showing proof of their finances which might invite hackers to hack their casino site, I hope that doesn't happen too because so far there has never been a big case of casino sites being hacked or theft happening, now it's different from what often happens by exchange sites there are always lots of cases of crypto being hacked or theft happening for reasons that are not clear, therefore the difference between casinos and exchanges is very different, so don't just because the FTX crypto exchange case also forces casinos to do the same with exchanges

Even if they won't show finances, the hackers are already there, they're the apple of the eye of those cons the same goes with exchanges. Wherever the money is, they're also there.
And knowing that casinos got a lot of capital or bankroll, they're not just having the easiest security and protection for their system. They're investing more with security so that even if they're targeted, still they have all the protection that will push away the hackers.

[Mahanton]

I'm just worried about showing proof of their finances which might invite hackers to hack their casino site, I hope that doesn't happen too because so far there has never been a big case of casino sites being hacked or theft happening, now it's different from what often happens by exchange sites there are always lots of cases of crypto being hacked or theft happening for reasons that are not clear, therefore the difference between casinos and exchanges is very different, so don't just because the FTX crypto exchange case also forces casinos to do the same with exchanges

Even if they won't show finances, the hackers are already there, they're the apple of the eye of those cons the same goes with exchanges. Wherever the money is, they're also there.
And knowing that casinos got a lot of capital or bankroll, they're not just having the easiest security and protection for their system. They're investing more with security so that even if they're targeted, still they have all the protection that will push away the hackers.

Strengthening security is really just a standard thing since its true that they are most targetted by hackers or to those people who are really tending to exploit out these places considering that they've really having
those huge funds because of this kind of industry which it isnt really no brainer that owners would really be that serious on making their security to be that strong and wont be able to be easily get
hacked or exploited. We know though that security isnt really that perfect but it is really just somewhat understandable on how they should really be putting up emphasis and importance
in this regards.Hackers are just lurking in the shadows and just waiting up for the right opportunity on attacking on which one is vulnerable.

[serjent05]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

It is established that gambling isn't a basic need of human nature but since gambling is part of the ecosystem, anything that impacts the ecosystem will definitely affect gambling.  So we cannot deny the fact that gambling is part of the industry that is affected when an economy of a country deteriorate or bustling.  After all the money that flaws to the gambling industry came from different sectors and is siphoned by the players who are engaged in gambling activity.  So when these sectors is affected, playing in this sector will also be affected thus there will be adjustments on the bets of these people which affects the income of the gambling industry.  It is a domino effect and no one can deny it.

[piebeyb]

I'm just worried about showing proof of their finances which might invite hackers to hack their casino site, I hope that doesn't happen too because so far there has never been a big case of casino sites being hacked or theft happening, now it's different from what often happens by exchange sites there are always lots of cases of crypto being hacked or theft happening for reasons that are not clear, therefore the difference between casinos and exchanges is very different, so don't just because the FTX crypto exchange case also forces casinos to do the same with exchanges

Even if they won't show finances, the hackers are already there, they're the apple of the eye of those cons the same goes with exchanges. Wherever the money is, they're also there.
And knowing that casinos got a lot of capital or bankroll, they're not just having the easiest security and protection for their system. They're investing more with security so that even if they're targeted, still they have all the protection that will push away the hackers.

Strengthening security is really just a standard thing since its true that they are most targetted by hackers or to those people who are really tending to exploit out these places considering that they've really having
those huge funds because of this kind of industry which it isnt really no brainer that owners would really be that serious on making their security to be that strong and wont be able to be easily get
hacked or exploited. We know though that security isnt really that perfect but it is really just somewhat understandable on how they should really be putting up emphasis and importance
in this regards.Hackers are just lurking in the shadows and just waiting up for the right opportunity on attacking on which one is vulnerable.

out of many cases in crypto only exchanges often make drama hacked and it turns out to be hacked by insiders too, it's common in crypto world but so far haven't seen casinos making drama hacked because they always keep all gamblers money there safe than in crypto even though it is not required to put money on third parties, of course they also provide great security for their casino

[KTChampions]

Casino (crypto casino) is no different from any other business. If the business is heavily indebted, then in the crisis stage, even if there is no scam, the business dies due to natural causes. If the crisis deepens (I do not think that everything will be limited to the collapse of the FTX), then some of the projects will leave the market. I don’t know if this will be a scam or a natural market process, but the advice to keep your assets in your wallet is as relevant as ever. If you do not store anything in the casino, then you will not suffer from its scam.

[Mauser]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

I fully agree with, gambling has been part of human life for hundreds of years. One crisis is not going to change anything in that. As long as there is demand for gambling there will be casinos and so far nothing has changed since the FTX disaster. Among my friends there is not a lot of concern about casinos going bankrupt and not being able to pay out customers. This is probably the case due to us not leaving larger amounts of money at a casino. For me a casino should be treated similar to an exchange, its fine to use it for your purpose, but don't leave your money on there. Whenever I have a higher win I will withdraw some of that money. This would also spot any issue that could be there with possible withdrawals if we do it regularly. The only drawback is that we have to pay more fees and have to invest a little bit more time. So far I don't think that there is any real pressure on casino to give a proof of funds. This might change if we have a bankruptcy of a big online casino.

[Baofeng]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

I fully agree with, gambling has been part of human life for hundreds of years. One crisis is not going to change anything in that. As long as there is demand for gambling there will be casinos and so far nothing has changed since the FTX disaster. Among my friends there is not a lot of concern about casinos going bankrupt and not being able to pay out customers. This is probably the case due to us not leaving larger amounts of money at a casino. For me a casino should be treated similar to an exchange, its fine to use it for your purpose, but don't leave your money on there. Whenever I have a higher win I will withdraw some of that money. This would also spot any issue that could be there with possible withdrawals if we do it regularly. The only drawback is that we have to pay more fees and have to invest a little bit more time. So far I don't think that there is any real pressure on casino to give a proof of funds. This might change if we have a bankruptcy of a big online casino.

And there will be demand for demand, no matter what, even in the Covid-19 pandemic, operators find a way to continue and then the boom with online gambling. Even here in our country, cock fighting become a thing that the government has to intervene because it's getting out of control.

So nevertheless, despite what is going on with the crypto market, proof of reserves and collapse of FTX, I think we are not that affected. Gambling will continue to go on and as we can see, there are still online gambling sites being born like every month.

[ethereumhunter]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

Indeed, it is not a primary human need, but we have seen many people play gambling daily and spend a lot of money. It has become the main need for those who often play gambling because it feels like something is missing if they don't play gambling today.

Competition between casinos will always exist and only those that can really serve their customers well will survive and even have many members. And the gambling industry does not seem to be affected by anything outside the gambling business because there are still many casinos running well. There are still many gamblers who play gambling.

[livingfree]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

I wouldn't say that it will never collapse. I think that it's better to say that it is unlikely to collapse but there's still a chance that it can, we don't know.

But noticing the competition there, yes, it's true that there's a healthy competition in the gambling industry because it is becoming reputable vs reputable casinos that are showcasing their services.

Contests here, good contests there and promos everywhere.

[passwordnow]

Even if they won't show finances, the hackers are already there, they're the apple of the eye of those cons the same goes with exchanges. Wherever the money is, they're also there.
And knowing that casinos got a lot of capital or bankroll, they're not just having the easiest security and protection for their system. They're investing more with security so that even if they're targeted, still they have all the protection that will push away the hackers.

Strengthening security is really just a standard thing since its true that they are most targetted by hackers or to those people who are really tending to exploit out these places considering that they've really having
those huge funds because of this kind of industry which it isnt really no brainer that owners would really be that serious on making their security to be that strong and wont be able to be easily get
hacked or exploited. We know though that security isnt really that perfect but it is really just somewhat understandable on how they should really be putting up emphasis and importance
in this regards.Hackers are just lurking in the shadows and just waiting up for the right opportunity on attacking on which one is vulnerable.

They might have perfect security but you can see with the reputable casinos that they're strengthening it because it's a must for their business. They just can't continue without having any means of protection from hackers because they're always targeted as they've got funds inside their operations where it is looking good and attractive to them. I think it's a good topic to talk about casino security and if they've got a team behind it through their operations or they're just having the people who work for it through a third party.

[carlisle1]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

I wouldn't say that it will never collapse. I think that it's better to say that it is unlikely to collapse but there's still a chance that it can, we don't know.

But noticing the competition there, yes, it's true that there's a healthy competition in the gambling industry because it is becoming reputable vs reputable casinos that are showcasing their services.

Contests here, good contests there and promos everywhere.

Which keeps bringing them gamblers to play, either to have some fun or to try some luck to gain money, there are lots of competitions but
I can agree to your statement that there's still chanced to collapse.

But for now, that chance is far since there are many new gambling businesses that shows good challenging competitions with those established
and well-known house.

A good and healthy business for every casino provider who knows how to treat their customer to continue doing good services.

[chaser15]

Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?

Recession, economic collapse, a bear market in crypto, and any worst-case that is or will happen in the market, the gambling industry will still stand strong because even on the worst days, there are lots of people who will try their luck in gambling as one their resort to making money.

During the pandemic, when people are supposed to limit their financial expenses, the gambling industry even become bigger and bigger. The reason? They are just boring at their home. What kind of reason is that? It does mean that even staying at home, most people are still financially capable to spend money on gambling.

Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what

A big no. Scammed sites can't bring down the whole gambling industry or people will lose trust.

There are lots of gambling sites that are running steadily strong. These scammed sites are only a few percentage out of the whole.

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash
As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?

If the funds stored came from winning on gambling, it's reasonable to leave it there because the gambling session just continues.

If for only storing purposes, that's the hell of the reason as why used a gambling site for that.

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

Running a casino during crypto crash
What would gamblers think if a casino does not agree to show proof of money from new and old casinos

Nothing. That's been the case since the beginning of everything.

It's now a matter of trust.

[Fatunad]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

Indeed, it is not a primary human need, but we have seen many people play gambling daily and spend a lot of money. It has become the main need for those who often play gambling because it feels like something is missing if they don't play gambling today.

Competition between casinos will always exist and only those that can really serve their customers well will survive and even have many members. And the gambling industry does not seem to be affected by anything outside the gambling business because there are still many casinos running well. There are still many gamblers who play gambling.

If gambling industry is something that not really needed then we arent gonna see lots of sites or businesses which is pertaining to gambling but it turns out to be opposite.This industry becomes so big on which \
despite of the pandemic situation there are some who do able to survive and able to make profits or revenues when the market goes open to everyone back again.
Just like the rest been saying that not only gambling industry had been affected but also in other industries as well.Domino effect is really there but not shocking
that lots had been able to recover after such decline which this do matter the most.

[harizen]

Domino effect is really there but not shocking
that lots had been able to recover after such decline which this do matter the most.

I can even say that the domino effect isn't really noticeable or reached the gambling industry.

Lots of money is circulating in this industry making it as one of the considered healthy and big industries in the world regardless of the economic situation.

Most gamblers want an easy way to make profits and gambling is the only thing they see that will make it possible. People will continue to gamble no matter what that even those who are not interested in gambling before are now entering the scene.

[ethereumhunter]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

Indeed, it is not a primary human need, but we have seen many people play gambling daily and spend a lot of money. It has become the main need for those who often play gambling because it feels like something is missing if they don't play gambling today.

Competition between casinos will always exist and only those that can really serve their customers well will survive and even have many members. And the gambling industry does not seem to be affected by anything outside the gambling business because there are still many casinos running well. There are still many gamblers who play gambling.

If gambling industry is something that not really needed then we arent gonna see lots of sites or businesses which is pertaining to gambling but it turns out to be opposite.This industry becomes so big on which \
despite of the pandemic situation there are some who do able to survive and able to make profits or revenues when the market goes open to everyone back again.
Just like the rest been saying that not only gambling industry had been affected but also in other industries as well.Domino effect is really there but not shocking
that lots had been able to recover after such decline which this do matter the most.

During yesterday's pandemic, the ones that benefited the most were online casinos because they could survive. They can work from home and still supervise the casino because casino employees cannot leave the house. But offline casinos may be the ones that can't benefit because they can't operate for some time. When something shakes up the business world, all businesses will feel the effects, but some areas of business are less affected and may still be able to run their business even in a state of survival.

[livingfree]

I wouldn't say that it will never collapse. I think that it's better to say that it is unlikely to collapse but there's still a chance that it can, we don't know.

But noticing the competition there, yes, it's true that there's a healthy competition in the gambling industry because it is becoming reputable vs reputable casinos that are showcasing their services.

Contests here, good contests there and promos everywhere.

Which keeps bringing them gamblers to play, either to have some fun or to try some luck to gain money, there are lots of competitions but
I can agree to your statement that there's still chanced to collapse.

But for now, that chance is far since there are many new gambling businesses that shows good challenging competitions with those established
and well-known house.

A good and healthy business for every casino provider who knows how to treat their customer to continue doing good services.

There are no other reasons why they do that and that's for them to make money. Fun is just on the side but if we'll discuss it, it will all end with the idea of making money and the chance of winning.

I agree on the latter part of what you've said, the competition is there and that makes the industry healthier because gamblers will look for some place where they're valued and that's going to make all involve in the competiton to give the best that they can.

[Ebede]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

Some people use gambling as their personal source of revenue of making money so I believe that gambling is not the major key of your own way of life but it is another person because the way I'm seeing gambling it has helped many people that's why that many people has lose in gambling especially this casino council game we do play and all the prediction games with the play gambling is a last Hope of a man

[milewilda]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

Some people use gambling as their personal source of revenue of making money so I believe that gambling is not the major key of your own way of life but it is another person because the way I'm seeing gambling it has helped many people that's why that many people has lose in gambling especially this casino council game we do play and all the prediction games with the play gambling is a last Hope of a man

You are talking shit honestly, gambling is the last hope of a man? If you are really that desperate and taking up some suicidal movement and decision then you would really be coming up with this idea but eventually you are really that making situations gets more worst.Its true that there are lots who are really that making gambling as their main source of income which i dont know where the hell they do come up with those ideas.
Speaks about economical problems that we do have then its not that gambling industry is just really that only affected but also in other industries as well but these industries do still get a good
hold into their position despite of the condition that we are seeing.As long the demand is there then it would be continuing to exist.

[goinmerry]

You are talking shit honestly, gambling is the last hope of a man? If you are really that desperate and taking up some suicidal movement and decision then you would really be coming up with this idea but eventually you are really that making situations gets more worst.

If you looked at reality, that's the situation of other people, relying on gambling as their last hope. That's even the reason why people suffer financial crises because they think by gambling, they will able to make more money in the process which turned out bad.

As the result, they ended up broke and now part of those become a victim because of gambling.

Its true that there are lots who are really that making gambling as their main source of income which i dont know where the hell they do come up with those ideas.

It's because you don't have the capability to do it

There are a lot of professional gamblers that treat gambling as their career making it their source of income.

[minime0105]

Gambling is not a primary human need. Despite that fact, the gambling industry will never collapse. You will see huge competition between gambling sites, but that is healthy rivalry. gambling is something people will always do and occasionally with big stakes. No one can change that. Just look at the sponsorships that certain sports teams have with gambling sites, where a fortune is counted down to be the sponsor on the shirt. That means a lot of money is coming in and keeps coming. A thriving and stable industry.

Some people use gambling as their personal source of revenue of making money so I believe that gambling is not the major key of your own way of life but it is another person because the way I'm seeing gambling it has helped many people that's why that many people has lose in gambling especially this casino council game we do play and all the prediction games with the play gambling is a last Hope of a man

You are talking shit honestly, gambling is the last hope of a man? If you are really that desperate and taking up some suicidal movement and decision then you would really be coming up with this idea but eventually you are really that making situations gets more worst.Its true that there are lots who are really that making gambling as their main source of income which i dont know where the hell they do come up with those ideas.
Speaks about economical problems that we do have then its not that gambling industry is just really that only affected but also in other industries as well but these industries do still get a good
hold into their position despite of the condition that we are seeing.As long the demand is there then it would be continuing to exist.

These people does not have anything to offer to the forum they are just making a shitpost in order to get money so you cannot blame them, we should apportion the blame to the people that hired them that is full of corruption, so in this aspect, when you look at the emphasis it made he will see that there's no cogent point in the conversation it only same blah blah blah in order to complete it weekly post count

[harizen]

I agree on the latter part of what you've said, the competition is there and that makes the industry healthier because gamblers will look for some place where they're valued and that's going to make all involve in the competiton to give the best that they can.

Isn't it the usual approach on how to keep standing amid the tough competition out there with gambling sites?

That's important since right now we are quite in the worst situation in the market, users will really stick to just gambling with those casinos that have proven to withstand any market conditions and remain fully operational without a problem amid the current situation.

If those gambling sites will keep that momentum even in the middle of any financial crisis-related issues, they are good to go.

[traderethereum]

I agree on the latter part of what you've said, the competition is there and that makes the industry healthier because gamblers will look for some place where they're valued and that's going to make all involve in the competiton to give the best that they can.

Isn't it the usual approach on how to keep standing amid the tough competition out there with gambling sites?

That's important since right now we are quite in the worst situation in the market, users will really stick to just gambling with those casinos that have proven to withstand any market conditions and remain fully operational without a problem amid the current situation.

If those gambling sites will keep that momentum even in the middle of any financial crisis-related issues, they are good to go.

We know that gamblers will not be affected by the changing market conditions and will continue to gamble.
And casinos will continue their business and compete with other casinos because that way, they can survive and even reach the top position if they can provide the best service for their members.
What can stop a casino from doing business when it goes bankrupt and not because of the domino effect globally.
But that won't happen to casinos that can manage their business well and even grow rapidly in the future.

[Wexnident]

You are talking shit honestly, gambling is the last hope of a man? If you are really that desperate and taking up some suicidal movement and decision then you would really be coming up with this idea but eventually you are really that making situations gets more worst.

If you looked at reality, that's the situation of other people, relying on gambling as their last hope. That's even the reason why people suffer financial crises because they think by gambling, they will able to make more money in the process which turned out bad.

As the result, they ended up broke and now part of those become a victim because of gambling.

The thing is that's actually a pretty narrow point of view imo. Maybe in the most extreme cases, it can be applicable, e.g. you have a debt and you'd die the next day if not paid (though a person alive is worth more than a person dead, but it's just a sample scenario anw), then gambling it and taking a last jump can be an applicable option, but that's a really extreme and rare case. It's just escapism imo, there are ways to live, just that it's all too difficult (and probably takes too much time, but that's part of it after all) so most choose an easy (but extreme) choice.

During yesterday's pandemic, the ones that benefited the most were online casinos because they could survive. They can work from home and still supervise the casino because casino employees cannot leave the house. But offline casinos may be the ones that can't benefit because they can't operate for some time. When something shakes up the business world, all businesses will feel the effects, but some areas of business are less affected and may still be able to run their business even in a state of survival.

You can actually call it survival of the fittest but with a more modern theme. Though tbf all businesses are like that, in this case it became much more obviously apparent since the enemy wasn't other businesses, but rather a 3rd party aka the pandemic.

[rodskee]

I agree on the latter part of what you've said, the competition is there and that makes the industry healthier because gamblers will look for some place where they're valued and that's going to make all involve in the competiton to give the best that they can.

Isn't it the usual approach on how to keep standing amid the tough competition out there with gambling sites?

That's important since right now we are quite in the worst situation in the market, users will really stick to just gambling with those casinos that have proven to withstand any market conditions and remain fully operational without a problem amid the current situation.

If those gambling sites will keep that momentum even in the middle of any financial crisis-related issues, they are good to go.

We know that gamblers will not be affected by the changing market conditions and will continue to gamble.

nope you are wrong , it will affect us as we are maybe losing some value to bet on.

And casinos will continue their business and compete with other casinos because that way, they can survive and even reach the top position if they can provide the best service for their members.

it is a business and they will run this because there are still gamblers that are willing and subjective to lose no matter what market is moving.

What can stop a casino from doing business when it goes bankrupt and not because of the domino effect globally.

there are some chances , but year it is not directly .

But that won't happen to casinos that can manage their business well and even grow rapidly in the future.

this is because of their Business and nothing else more , the attitude towards players that will bankrupt them.

[carlisle1]

I agree on the latter part of what you've said, the competition is there and that makes the industry healthier because gamblers will look for some place where they're valued and that's going to make all involve in the competiton to give the best that they can.

Isn't it the usual approach on how to keep standing amid the tough competition out there with gambling sites?

That's important since right now we are quite in the worst situation in the market, users will really stick to just gambling with those casinos that have proven to withstand any market conditions and remain fully operational without a problem amid the current situation.

If those gambling sites will keep that momentum even in the middle of any financial crisis-related issues, they are good to go.

We know that gamblers will not be affected by the changing market conditions and will continue to gamble.
And casinos will continue their business and compete with other casinos because that way, they can survive and even reach the top position if they can provide the best service for their members.
What can stop a casino from doing business when it goes bankrupt and not because of the domino effect globally.
But that won't happen to casinos that can manage their business well and even grow rapidly in the future.

If they can work with the gamblers the right way, then the business will continue, even with the bad condition of the economy
gamblers are always be there to continue playing and chasing for luck.

It's a continuous business that only needs to keep the good relation between the casino owners and the clients who are using the
platform.

If you are good at it, your business will run and survive.

[Mahanton]

I agree on the latter part of what you've said, the competition is there and that makes the industry healthier because gamblers will look for some place where they're valued and that's going to make all involve in the competiton to give the best that they can.

Isn't it the usual approach on how to keep standing amid the tough competition out there with gambling sites?

That's important since right now we are quite in the worst situation in the market, users will really stick to just gambling with those casinos that have proven to withstand any market conditions and remain fully operational without a problem amid the current situation.

If those gambling sites will keep that momentum even in the middle of any financial crisis-related issues, they are good to go.

We know that gamblers will not be affected by the changing market conditions and will continue to gamble.
And casinos will continue their business and compete with other casinos because that way, they can survive and even reach the top position if they can provide the best service for their members.
What can stop a casino from doing business when it goes bankrupt and not because of the domino effect globally.
But that won't happen to casinos that can manage their business well and even grow rapidly in the future.

If they can work with the gamblers the right way, then the business will continue, even with the bad condition of the economy
gamblers are always be there to continue playing and chasing for luck.

It's a continuous business that only needs to keep the good relation between the casino owners and the clients who are using the
platform.

If you are good at it, your business will run and survive.

To look at wayback on the time pandemic hits then people who are getting used to offline or physical casinos did really end up on trying to play and switching up from offline to online games.There might really
be some major changes when it comes to venue or the entire vibe but still they do really end up on playing and still continues to play despite of the situation which does simply means that if
demand wont die then these businesses wont die anytime soon.There's demand and this is what makes a business keeps running or simply this industry could really be able
to withstand for whatever economic problems would be faced on.

[Fortify]

There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos

It seems like a sensible idea but would have to be done in a way that does not expose casino cold wallets to unnecessary risk. If an independent auditor was perhaps involved who could come along or automate a process to look at reserves once or several times a day, that would seem like a good way to do it - as long as the auditor was insured to cover any losses from making a false claim if the casino went out of business. In reality you should not keep very much in your casino wallet anyway, barely enough to cover a days worth of gambling and do not treat it like your secure wallet, that is the safest way to protect yourself if you frequent this sort of website/app often.

[livingfree]

I agree on the latter part of what you've said, the competition is there and that makes the industry healthier because gamblers will look for some place where they're valued and that's going to make all involve in the competiton to give the best that they can.

Isn't it the usual approach on how to keep standing amid the tough competition out there with gambling sites?

That's important since right now we are quite in the worst situation in the market, users will really stick to just gambling with those casinos that have proven to withstand any market conditions and remain fully operational without a problem amid the current situation.

If those gambling sites will keep that momentum even in the middle of any financial crisis-related issues, they are good to go.

Yeah, but it's up to them on how they're going to maintain and retain their users.

Even if we're in the worst part of the market crisis, people will still gamble no matter what because there's still possible money that they can get from within.

I don't even think that the actual gamblers will stop gambling and will care about the financial situation of the world even if there's a crisis, no one can stop them.

[traderethereum]

I agree on the latter part of what you've said, the competition is there and that makes the industry healthier because gamblers will look for some place where they're valued and that's going to make all involve in the competiton to give the best that they can.

Isn't it the usual approach on how to keep standing amid the tough competition out there with gambling sites?

That's important since right now we are quite in the worst situation in the market, users will really stick to just gambling with those casinos that have proven to withstand any market conditions and remain fully operational without a problem amid the current situation.

If those gambling sites will keep that momentum even in the middle of any financial crisis-related issues, they are good to go.

We know that gamblers will not be affected by the changing market conditions and will continue to gamble.
And casinos will continue their business and compete with other casinos because that way, they can survive and even reach the top position if they can provide the best service for their members.
What can stop a casino from doing business when it goes bankrupt and not because of the domino effect globally.
But that won't happen to casinos that can manage their business well and even grow rapidly in the future.

If they can work with the gamblers the right way, then the business will continue, even with the bad condition of the economy
gamblers are always be there to continue playing and chasing for luck.

It's a continuous business that only needs to keep the good relation between the casino owners and the clients who are using the
platform.

If you are good at it, your business will run and survive.

That means the casino owner must always be aware of the circumstances going on so they can anticipate if bad things happen.
Casino owners who can adapt to all situations can still run their businesses well.
Meanwhile, gamblers who often play gambling also still play gambling in casinos.
If the conditions outside are uncertain, gamblers may reduce the amount of money used to continue to be able to play gambling.
There is a sense of loss that gamblers will experience if they don't play gambling for a certain time because they are used to playing.

[libert19]

Whether they show proof or not, often casinos run away/close down their business without particularly affecting the market. Countless casino campaigns have come on bitcointalk, only few exist.

[Betwrong]

~

I completely agree with you on your argument that there are some copycat sites, but such names either go hidden because nobody comes up with their complaints or simply ignores them just because he/she believes it was his fault to send his/her money over there and gamble.
However, I'm known of 1xBit here which has created lots of its own clone sites with different names starting with 1, so whenever I see any website popping up whose name begins with 1, I simply stay away and choose some other reputed names to play at.

You are doing the right thing. It reminds me of the mushroom pickers avoiding gilled mushrooms just to not accidentally pick up an Amanita phalloides, commonly known as the Death Cap. Indeed, if you have lots of those with spore tubes on the underside of the cap, like porcinis(reputable gambling sites in our case) around, why risk your life(money in our case)?

~

~

But that won't work if the reputable casino tries its best to solve those problems because the reputable casino knows that it is related to the reputation they have earned in this forum. But of course, there will be concerns for gamblers, especially those who keep their coins in the casino, because they don't know whether the casino will remain a well-known casino or turn into a casino that deceives gamblers. We must be wise in this matter and not underestimate the little things that might not happen because everything can change in an instant over time.

But what is the probability of that? Normally, a well known site doesn't turn into a casino that deceives gamblers. With that said, of course, don't keep on any site more money than you can afford to lose.

[swogerino]

Whether they show proof or not, often casinos run away/close down their business without particularly affecting the market. Countless casino campaigns have come on bitcointalk, only few exist.

And is exactly this very few that exist that we should support,since they still exist it means that they have a huge amount of cash ready to afford to pay any amount no matter how big it is without concerns,of course we can see that in the ANN threads here where their ANN threads are filled with positive feedback and different bonuses they share with the community.

For the lot of casinos that cease to exist it shows that they did not have a long term business plan and they were in for the quick buck,things do not work like that in a real business and even online casinos can be real business who generate revenue so the casinos who go away or close business are those without a plan and without finances to back those plans.

As you say casino campaigns are a lot but very few that run for a long term and those who run for the long term show that they are solid business with healthy finances.

[Betwrong]

~
For the lot of casinos that cease to exist it shows that they did not have a long term business plan and they were in for the quick buck,things do not work like that in a real business and even online casinos can be real business who generate revenue so the casinos who go away or close business are those without a plan and without finances to back those plans.

As you say casino campaigns are a lot but very few that run for a long term and those who run for the long term show that they are solid business with healthy finances.

I have a theory that those aiming for the quick buck without having enough funds enough funds to sustain their business are very likely to be the ones that will scam their customers in the end. It is better to avoid such casinos, but how can we know which is which? Well, the easiest way would be to play on sites that were with a good reputation and at least 2 years old.

[klidex]

I agree on the latter part of what you've said, the competition is there and that makes the industry healthier because gamblers will look for some place where they're valued and that's going to make all involve in the competiton to give the best that they can.

Isn't it the usual approach on how to keep standing amid the tough competition out there with gambling sites?

That's important since right now we are quite in the worst situation in the market, users will really stick to just gambling with those casinos that have proven to withstand any market conditions and remain fully operational without a problem amid the current situation.

If those gambling sites will keep that momentum even in the middle of any financial crisis-related issues, they are good to go.

We know that gamblers will not be affected by the changing market conditions and will continue to gamble.
And casinos will continue their business and compete with other casinos because that way, they can survive and even reach the top position if they can provide the best service for their members.
What can stop a casino from doing business when it goes bankrupt and not because of the domino effect globally.
But that won't happen to casinos that can manage their business well and even grow rapidly in the future.

If they can work with the gamblers the right way, then the business will continue, even with the bad condition of the economy
gamblers are always be there to continue playing and chasing for luck.

It's a continuous business that only needs to keep the good relation between the casino owners and the clients who are using the
platform.

If you are good at it, your business will run and survive.

Basically casino owners are more savvy about how their casino sites work.
Casino owners also don't want to experience the slightest loss, so they definitely have their own plans and rules for how to work. After all, they make the casino site to do business and make a profit.
And gamblers themselves understand and know which casinos are good and reliable so they can play gambling or bet in a match.
So I don't think you need to argue about that.

[BobK71]

I agree on the latter part of what you've said, the competition is there and that makes the industry healthier because gamblers will look for some place where they're valued and that's going to make all involve in the competiton to give the best that they can.

Isn't it the usual approach on how to keep standing amid the tough competition out there with gambling sites?

That's important since right now we are quite in the worst situation in the market, users will really stick to just gambling with those casinos that have proven to withstand any market conditions and remain fully operational without a problem amid the current situation.

If those gambling sites will keep that momentum even in the middle of any financial crisis-related issues, they are good to go.

We know that gamblers will not be affected by the changing market conditions and will continue to gamble.
And casinos will continue their business and compete with other casinos because that way, they can survive and even reach the top position if they can provide the best service for their members.
What can stop a casino from doing business when it goes bankrupt and not because of the domino effect globally.
But that won't happen to casinos that can manage their business well and even grow rapidly in the future.

If they can work with the gamblers the right way, then the business will continue, even with the bad condition of the economy
gamblers are always be there to continue playing and chasing for luck.

It's a continuous business that only needs to keep the good relation between the casino owners and the clients who are using the
platform.

If you are good at it, your business will run and survive.

That means the casino owner must always be aware of the circumstances going on so they can anticipate if bad things happen.
Casino owners who can adapt to all situations can still run their businesses well.
Meanwhile, gamblers who often play gambling also still play gambling in casinos.
If the conditions outside are uncertain, gamblers may reduce the amount of money used to continue to be able to play gambling.
There is a sense of loss that gamblers will experience if they don't play gambling for a certain time because they are used to playing.

A professional gambler usually does not gamble based on the condition of the crypto market. Betting in a bull market can be the same as betting in a bear market. But it depends mainly on its adequacy of funds. Usually when bear market comes around all coins drop in price so a gambler can slow down his adequacy of funds a bit. The current situation of crypto market is bearish but gambling sites are not stopping. Rather, this market is expanding day by day.

[gantez]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

[EarnOnVictor]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

Despite that there are still some decentralized casinos, I would never advise anyone to leave their money in the casinos. That would be so dumb, it's better your coin is in a trusted open-source wallet, and I prefer saving my coin in BTC than any other coin. Your advice of sending the amount needed to play is also a good one as casinos are not your bank or real wallet that you can trust your coins with.

However, most of them are centralized, meaning that your money could go at any time if they have issues or they dupe you.

[Betwrong]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

Despite that there are still some decentralized casinos, I would never advise anyone to leave their money in the casinos. That would be so dumb, it's better your coin is in a trusted open-source wallet, and I prefer saving my coin in BTC than any other coin. Your advice of sending the amount needed to play is also a good one as casinos are not your bank or real wallet that you can trust your coins with.

However, most of them are centralized, meaning that your money could go at any time if they have issues or they dupe you.

Just don't forget that, in contrast to day traders, gamblers don't usually keep a lot of their money on gambling platforms. For successful and profitable trading, the more money you have, the better. But if you think about gambling this way, you are basically sick, and you need a doctor, not a reliable gambling platform.

[Botnake]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

This is not safe, even in exchanges, it's not good to store your coins as you never know what will happen tomorrow. I mean, hacking is possible and some exchanges will steal the money of their traders for an exit scam. It's not good to store because there's a risk, so if you are a gambler, better keep it in your wallet and just transact when necessary, nowadays, there are coins with cheap transaction fees, so fees are not a big issue like in the past.

[STT]

Gambling is one of those industries that survives wars and recession, its always there with revenue far more consistently then alot of industries.  It has to be stated as a counter cyclical industry I think, the typical example would be an undertakers for a business.   People stop certain things just because its a harder economy, maybe it is surprising because I view gambling as a luxury type past time but probably also true of drinking and all sorts people dont really alter their habits and so its reliable.
  Gambling is not really part of the speculative swings, people gamble no matter what else is occuring.

[EarnOnVictor]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

This is not safe, even in exchanges, it's not good to store your coins as you never know what will happen tomorrow. I mean, hacking is possible and some exchanges will steal the money of their traders for an exit scam. It's not good to store because there's a risk, so if you are a gambler, better keep it in your wallet and just transact when necessary, nowadays, there are coins with cheap transaction fees, so fees are not a big issue like in the past.

Not only unsafe, but it is also so lame as an idea. Gambling sites that are to be trusted with our money are not many, and the regulations of the industry are still weak as far as I am concerned, except for some that are in advanced countries. Regardless, it is safe to keep our coin in our trusted wallets, not with the gambling site that could do and undo it.

So gambling sites are even involved in some shady deals like money laundering and others, such will not have a conscience in stealing your money too. Aside from that, what if the government overseeing their domain now shot it down, then your money is gone just like that.

[wxa7115]

Gambling is one of those industries that survives wars and recession, its always there with revenue far more consistently then alot of industries.  It has to be stated as a counter cyclical industry I think, the typical example would be an undertakers for a business.   People stop certain things just because its a harder economy, maybe it is surprising because I view gambling as a luxury type past time but probably also true of drinking and all sorts people dont really alter their habits and so its reliable.
  Gambling is not really part of the speculative swings, people gamble no matter what else is occuring.

It is interesting to think about why gambling thrives even on difficult times, and we have a very recent example with the pandemic, with things as bad as they were at the time the most logical thing to happen was for casinos to suffer as it would make the most sense for people to save their money in case they needed it.

However not only online casinos did not lost revenue but instead they even made more profits as people at the time were desperate to get any entertainment they could get regardless of the cost.

[SirLancelot]

Not only unsafe, but it is also so lame as an idea. Gambling sites that are to be trusted with our money are not many, and the regulations of the industry are still weak as far as I am concerned, except for some that are in advanced countries. Regardless, it is safe to keep our coin in our trusted wallets, not with the gambling site that could do and undo it.

So gambling sites are even involved in some shady deals like money laundering and others, such will not have a conscience in stealing your money too. Aside from that, what if the government overseeing their domain now shot it down, then your money is gone just like that.

It is lame if you will use it like a wallet when there is already a crypto wallet but not really lame when you do it for a purpose like you are earning some dividends but I salute those who have a balance inside the gambling site that is unused for a very long time.

This only means that these people can defy the temptation caused by gambling. If only regulations are strong in crypto gambling then scam gambling sites will get lessened but I think this is being worked out now. Have you noticed that KYC's are now being implemented left and right? But maybe after this, many people will be confident to store their money thinking they are now safe.

[milewilda]

Not only unsafe, but it is also so lame as an idea. Gambling sites that are to be trusted with our money are not many, and the regulations of the industry are still weak as far as I am concerned, except for some that are in advanced countries. Regardless, it is safe to keep our coin in our trusted wallets, not with the gambling site that could do and undo it.

So gambling sites are even involved in some shady deals like money laundering and others, such will not have a conscience in stealing your money too. Aside from that, what if the government overseeing their domain now shot it down, then your money is gone just like that.

It is lame if you will use it like a wallet when there is already a crypto wallet but not really lame when you do it for a purpose like you are earning some dividends but I salute those who have a balance inside the gambling site that is unused for a very long time.

This only means that these people can defy the temptation caused by gambling. If only regulations are strong in crypto gambling then scam gambling sites will get lessened but I think this is being worked out now. Have you noticed that KYC's are now being implemented left and right? But maybe after this, many people will be confident to store their money thinking they are now safe.

Even if they are already regulated and asking for some KYC then i cant still bare out to store my funds on any platform.Nothing beats out if you do make use of those non-custodial ones considering that you do
still have the full control.No matter how regulated they would be, it doesnt assure that you could get your funds back in case there are some huge trouble involving with these platforms.
I do believe that those fellas who do leave out those huge funds on a casino site for a long time are those people who had just totally forgotten that they do still have funds there.
Its impossible that you would be leaving out something like that without trying out to turn yourself back.

[TimeTeller]

Not only unsafe, but it is also so lame as an idea. Gambling sites that are to be trusted with our money are not many, and the regulations of the industry are still weak as far as I am concerned, except for some that are in advanced countries. Regardless, it is safe to keep our coin in our trusted wallets, not with the gambling site that could do and undo it.

So gambling sites are even involved in some shady deals like money laundering and others, such will not have a conscience in stealing your money too. Aside from that, what if the government overseeing their domain now shot it down, then your money is gone just like that.

It is lame if you will use it like a wallet when there is already a crypto wallet but not really lame when you do it for a purpose like you are earning some dividends but I salute those who have a balance inside the gambling site that is unused for a very long time.

This only means that these people can defy the temptation caused by gambling. If only regulations are strong in crypto gambling then scam gambling sites will get lessened but I think this is being worked out now. Have you noticed that KYC's are now being implemented left and right? But maybe after this, many people will be confident to store their money thinking they are now safe.

Even if they are already regulated and asking for some KYC then i cant still bare out to store my funds on any platform.Nothing beats out if you do make use of those non-custodial ones considering that you do
still have the full control.No matter how regulated they would be, it doesnt assure that you could get your funds back in case there are some huge trouble involving with these platforms.
I do believe that those fellas who do leave out those huge funds on a casino site for a long time are those people who had just totally forgotten that they do still have funds there.
Its impossible that you would be leaving out something like that without trying out to turn yourself back.

It is indeed not advisable by all means to leave funds for long time in gambling sites.
Some sites can collect your funds or have handling fees if you have a dormant account, so better check that out also in their ToS.
I can understand if the user is actively playing on the site or is participating their investment options, why he has to leave some funds.
With what we are experiencing up until today, even big and reputable exchanges can fail, it is also the same with casinos or bookies.
So if you will not be playing on the site, better send your funds to your own wallet. Even if you say, the site is licensed and reputable.

[uneng]

It is indeed not advisable by all means to leave funds for long time in gambling sites.
Some sites can collect your funds or have handling fees if you have a dormant account, so better check that out also in their ToS.
I can understand if the user is actively playing on the site or is participating their investment options, why he has to leave some funds.
With what we are experiencing up until today, even big and reputable exchanges can fail, it is also the same with casinos or bookies.
So if you will not be playing on the site, better send your funds to your own wallet. Even if you say, the site is licensed and reputable.

It's true we should be careful when leaving funds idle at online platforms for a long time. But do you know what is interesting? We don't hear about casinos scamming their users like exchanges have been doing since the big scandal with Mt. Gox many years ago. Compared to exchanges, I conclude casinos are a safer business model to let your funds than exchanges, what is quite ironical, since casinos are considered greedy places where people lose money, while exchanges are considered places where people store money safely.

In every cases, it's not a recommendation to let funds at casinos, especially because there are some casinos nowadays seizing funds from gamblers' accounts which are inactive for a long time. So, as you said, to read their ToS is a must!

[minime0105]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

From the statement i know quit well  and believe, that it's well known and stated year before that funds is not suppose to be keep or save in casino platform or exchange platform, the reason why many people stipulate this, it's because of the casino platforms can possibly shutdown without notification or awareness of anyone, so i believe that people who knows what is obtainable doesn't keep money in any platform.

[romero121]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

From the statement i know quit well  and believe, that it's well known and stated year before that funds is not suppose to be keep or save in casino platform or exchange platform, the reason why many people stipulate this, it's because of the casino platforms can possibly shutdown without notification or awareness of anyone, so i believe that people who knows what is obtainable doesn't keep money in any platform.

Agreed, but with gambling service providers it is very rare to see such a situation. In most of the gambling platform shutdown every user were notified and were allowed to make withdrawal befor shitting down. Exchanges in recent months have suffered big due to the flaw from the top authority. Even holding in reputable platforms have turned to be wrong after the FTX Collapse.

[milewilda]

Not only unsafe, but it is also so lame as an idea. Gambling sites that are to be trusted with our money are not many, and the regulations of the industry are still weak as far as I am concerned, except for some that are in advanced countries. Regardless, it is safe to keep our coin in our trusted wallets, not with the gambling site that could do and undo it.

So gambling sites are even involved in some shady deals like money laundering and others, such will not have a conscience in stealing your money too. Aside from that, what if the government overseeing their domain now shot it down, then your money is gone just like that.

It is lame if you will use it like a wallet when there is already a crypto wallet but not really lame when you do it for a purpose like you are earning some dividends but I salute those who have a balance inside the gambling site that is unused for a very long time.

This only means that these people can defy the temptation caused by gambling. If only regulations are strong in crypto gambling then scam gambling sites will get lessened but I think this is being worked out now. Have you noticed that KYC's are now being implemented left and right? But maybe after this, many people will be confident to store their money thinking they are now safe.

Even if they are already regulated and asking for some KYC then i cant still bare out to store my funds on any platform.Nothing beats out if you do make use of those non-custodial ones considering that you do
still have the full control.No matter how regulated they would be, it doesnt assure that you could get your funds back in case there are some huge trouble involving with these platforms.
I do believe that those fellas who do leave out those huge funds on a casino site for a long time are those people who had just totally forgotten that they do still have funds there.
Its impossible that you would be leaving out something like that without trying out to turn yourself back.

It is indeed not advisable by all means to leave funds for long time in gambling sites.
Some sites can collect your funds or have handling fees if you have a dormant account, so better check that out also in their ToS.
I can understand if the user is actively playing on the site or is participating their investment options, why he has to leave some funds.
With what we are experiencing up until today, even big and reputable exchanges can fail, it is also the same with casinos or bookies.
So if you will not be playing on the site, better send your funds to your own wallet. Even if you say, the site is licensed and reputable.

There's no such thing about 100% assurance or something that positive could happen without minding or looking up on the risks.When you are tending to make out some investment then i would care less with those
staking or something that makes my coins to be hold up whether if its on a gambling site but mostly this would be on an exchange type of scenario where you would be leaving up your coins.
Security isnt 100% guaranteed this is why its up to someones risk taking whether they would be able to bare it out or would rather be that paranoid when it comes to safety.

[EarnOnVictor]

Not only unsafe, but it is also so lame as an idea. Gambling sites that are to be trusted with our money are not many, and the regulations of the industry are still weak as far as I am concerned, except for some that are in advanced countries. Regardless, it is safe to keep our coin in our trusted wallets, not with the gambling site that could do and undo it.

So gambling sites are even involved in some shady deals like money laundering and others, such will not have a conscience in stealing your money too. Aside from that, what if the government overseeing their domain now shot it down, then your money is gone just like that.

It is lame if you will use it like a wallet when there is already a crypto wallet but not really lame when you do it for a purpose like you are earning some dividends but I salute those who have a balance inside the gambling site that is unused for a very long time.

This only means that these people can defy the temptation caused by gambling. If only regulations are strong in crypto gambling then scam gambling sites will get lessened but I think this is being worked out now. Have you noticed that KYC's are now being implemented left and right? But maybe after this, many people will be confident to store their money thinking they are now safe.

Even if they are already regulated and asking for some KYC then i cant still bare out to store my funds on any platform.

Regulation or KYC is another legal means that some companies used in attracting customers but this in the real sense does not add to the integrity of the company. I don't trust any gambling site due to their regulation, I only trust them based on their reviews. Even with very good reviews, I will never store my crypto in any of them except the ones for immediate use.

Casinos are certainly not designed for that purpose, so why use them for such?

[traderethereum]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

From the statement i know quit well  and believe, that it's well known and stated year before that funds is not suppose to be keep or save in casino platform or exchange platform, the reason why many people stipulate this, it's because of the casino platforms can possibly shutdown without notification or awareness of anyone, so i believe that people who knows what is obtainable doesn't keep money in any platform.

Agreed, but with gambling service providers it is very rare to see such a situation. In most of the gambling platform shutdown every user were notified and were allowed to make withdrawal befor shitting down. Exchanges in recent months have suffered big due to the flaw from the top authority. Even holding in reputable platforms have turned to be wrong after the FTX Collapse.

That's right and it allows gamblers to withdraw all their money from the casino before they close down.
Gamblers will not feel cheated because the casino provides a time limit for withdrawing their money.
But I guess some exchanges also give traders a time limit to withdraw all their money, just like in a casino, giving traders the same opportunity.
But it is not recommended for gamblers to keep their money in gambling because not all casinos will give notice of closing their business.
If this happens, it will disappoint gamblers because they cannot withdraw their funds.

[swogerino]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

From the statement i know quit well  and believe, that it's well known and stated year before that funds is not suppose to be keep or save in casino platform or exchange platform, the reason why many people stipulate this, it's because of the casino platforms can possibly shutdown without notification or awareness of anyone, so i believe that people who knows what is obtainable doesn't keep money in any platform.

Agreed, but with gambling service providers it is very rare to see such a situation. In most of the gambling platform shutdown every user were notified and were allowed to make withdrawal befor shitting down. Exchanges in recent months have suffered big due to the flaw from the top authority. Even holding in reputable platforms have turned to be wrong after the FTX Collapse.

That happened and it is the correct thing to do,keep your money out of centralized exchanges is a must but then this must follow also from the gambling sites,do not use them as a wallet to store your funds because no matter how trustworthy they maybe they are still a third party,the best thing to do is to deposit any amount you plan on playing there and once you finish your session it is a very good idea to withdraw your money to a wallet where you and only you have the private keys.

[LUCKMCFLY]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

Despite that there are still some decentralized casinos, I would never advise anyone to leave their money in the casinos. That would be so dumb, it's better your coin is in a trusted open-source wallet, and I prefer saving my coin in BTC than any other coin. Your advice of sending the amount needed to play is also a good one as casinos are not your bank or real wallet that you can trust your coins with.

However, most of them are centralized, meaning that your money could go at any time if they have issues or they dupe you.

One of the ways they have to do in the casinos that really hooked people was that they could have done things like use their wallets as private ones for the clients, well in fact there is a casino like freebitco.in that is still up or can be used as a private wallet and I believe that for me in my personal opinion it is the most reliable wallet managed by a platform.

Also, one of the things that was made or promoted from the beginning is that it can be used as a wallet and as a good multiplier, these are the things that many of us loved about the platform from the beginning, but now because of all the FTX madness I think that there is no such trust on any platform.

[Solosanz]

1. No, crypto casino industry wouldn't get any effect from FTX bankruptcy.
2. No, different casino has different ownership, although someone can create more than 1 casino, but a scam casino wouldn't last long, that's why I don't want to play in new casino.
3. No, casino isn't a wallet and there's a chance the casino might bankrupt or they have updated the new terms that I can't accept it.
4. The casino is scam since there's no transparency.

[Eternad]

One of the ways they have to do in the casinos that really hooked people was that they could have done things like use their wallets as private ones for the clients, well in fact there is a casino like freebitco.in that is still up or can be used as a private wallet and I believe that for me in my personal opinion it is the most reliable wallet managed by a platform.

Also, one of the things that was made or promoted from the beginning is that it can be used as a wallet and as a good multiplier, these are the things that many of us loved about the platform from the beginning, but now because of all the FTX madness I think that there is no such trust on any platform.

Can you explain what’s the private you are talking about freebitco.in? If I remember correctly they are still centralized casino that use email for logging in on the website. How there wallet differs to the typical wallet though? Are they offering a web3 feature that makes user connect there wallet to play the game because that kind of casino will gonna be trusted to leave balance on the casino wallet.

Although I’m not that kind of doubtful on casino credibility compared to CEX since they are not using user money on investment unlike CEX that use the user funds to loan or invest on other project leaving all the exchange balance becomes not backed by real money.

[stomachgrowls]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

From the statement i know quit well  and believe, that it's well known and stated year before that funds is not suppose to be keep or save in casino platform or exchange platform, the reason why many people stipulate this, it's because of the casino platforms can possibly shutdown without notification or awareness of anyone, so i believe that people who knows what is obtainable doesn't keep money in any platform.

Agreed, but with gambling service providers it is very rare to see such a situation. In most of the gambling platform shutdown every user were notified and were allowed to make withdrawal befor shitting down. Exchanges in recent months have suffered big due to the flaw from the top authority. Even holding in reputable platforms have turned to be wrong after the FTX Collapse.

That happened and it is the correct thing to do,keep your money out of centralized exchanges is a must but then this must follow also from the gambling sites,do not use them as a wallet to store your funds because no matter how trustworthy they maybe they are still a third party,the best thing to do is to deposit any amount you plan on playing there and once you finish your session it is a very good idea to withdraw your money to a wallet where you and only you have the private keys.

Most of the time it wont really be a serious issue for me since i do always bust up my account or my gambling capital most of the time and wont leave any amounts on any gambling platform which im not really that

in a situation on where i do mind much on this situation.If ever i do find myself out on a situation where i do have funds then im always a fan on taking and pulling off those amounts on a site
or whatever centralized platforms that i would be dealing with.Nothing beats out if you do store up your coins on a non custodial wallet or you do have the full control of it
since you do possess its keys.

[Distinctin]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

This is not safe, even in exchanges, it's not good to store your coins as you never know what will happen tomorrow. I mean, hacking is possible and some exchanges will steal the money of their traders for an exit scam. It's not good to store because there's a risk, so if you are a gambler, better keep it in your wallet and just transact when necessary, nowadays, there are coins with cheap transaction fees, so fees are not a big issue like in the past.

Everything that is centralized, be it casinos or exchanges, have their own risk so we should as much as possible avoid them at all cost. Besides, saving in gambling sites will only end up stealing your coins and leave you empty. So never trust all of them, but trust your own self-custodial wallet as it’s more safe and secured.

[capedbaldy]

Everything that is centralized, be it casinos or exchanges, have their own risk so we should as much as possible avoid them at all cost. Besides, saving in gambling sites will only end up stealing your coins and leave you empty. So never trust all of them, but trust your own self-custodial wallet as it’s more safe and secured.

Gambling is not a wallet saving coins even centralized exchanges are not recommended to save assets for the long term, including custodial wallets should be selected open source wallet applications are recommended to avoid wallet access vulnerabilities, but I believe no gamblers save on gambling platforms and only balances it is used for gambling according to the respective funds limit.

[Lanatsa]

Everything that is centralized, be it casinos or exchanges, have their own risk so we should as much as possible avoid them at all cost. Besides, saving in gambling sites will only end up stealing your coins and leave you empty. So never trust all of them, but trust your own self-custodial wallet as it’s more safe and secured.

Gambling is not a wallet saving coins even centralized exchanges are not recommended to save assets for the long term, including custodial wallets should be selected open source wallet applications are recommended to avoid wallet access vulnerabilities, but I believe no gamblers save on gambling platforms and only balances it is used for gambling according to the respective funds limit.

But its not still ideal on leaving those coins even on gambling platforms, if the amount isnt really that significant then it might do or considerable but if its a huge one then its better to pull it off.
Fees arent really that expensive or almost free on making transfers which it would really be that absurd if someone do miss out on pulling their funds just because of the hassle and the fee thing.
Centralized platforms does have always the right on locking up your funds or totally having the control of such wallet and if you dont able to comply on whats being asked then
expect those funds would be locked up.

[len01]

  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
 

I don't think it is good to have your coins saved in gambling casinos because it has no purpose to put it there, it will not increase in the value because it is not exchange or trade that you want to do with it. You can transfer some coins into the casinos account to playing their games for the purpose of that and nothing on it. You can do transfer of the coin to use for gambling, no need to save it there and casino is centralised.

This is not safe, even in exchanges, it's not good to store your coins as you never know what will happen tomorrow. I mean, hacking is possible and some exchanges will steal the money of their traders for an exit scam. It's not good to store because there's a risk, so if you are a gambler, better keep it in your wallet and just transact when necessary, nowadays, there are coins with cheap transaction fees, so fees are not a big issue like in the past.

Everything that is centralized, be it casinos or exchanges, have their own risk so we should as much as possible avoid them at all cost. Besides, saving in gambling sites will only end up stealing your coins and leave you empty. So never trust all of them, but trust your own self-custodial wallet as it’s more safe and secured.

another meaning of the word that is easiest to understand is that saving funds or money on an online platform is very high risk, and of course the risk is losing your funds.
for the problem of saving funds on a gambling platform and losing it, it is caused by several factors.
This factor is the easiest to understand, when someone saves funds on a gambling platform and has been inactive for a long time, usually the funds are frozen or confiscated for reasons of platform development.
so it is highly recommended to store funds or crypto assets in a cold wallet, that's much better.

[harizen]

Everything that is centralized, be it casinos or exchanges, have their own risk so we should as much as possible avoid them at all cost. Besides, saving in gambling sites will only end up stealing your coins and leave you empty. So never trust all of them, but trust your own self-custodial wallet as it’s more safe and secured.

Everything that is centralized should be avoided at all costs. Can you really keep up with that? I doubt.

Using their service is no doubt beneficial and does have advantages. Obviously, just use their service and not make them as a wallet-saving use.

And who the hell will save money on gambling sites? Those high amounts that you might see are part of the gambling profits and it's just that the user is not yet withdrawing because they will still continue their goal of increasing their gambling profits.

[AmoreJaz]

Everything that is centralized, be it casinos or exchanges, have their own risk so we should as much as possible avoid them at all cost. Besides, saving in gambling sites will only end up stealing your coins and leave you empty. So never trust all of them, but trust your own self-custodial wallet as it’s more safe and secured.

Everything that is centralized should be avoided at all costs. Can you really keep up with that? I doubt.

Using their service is no doubt beneficial and does have advantages. Obviously, just use their service and not make them as a wallet-saving use.

And who the hell will save money on gambling sites? Those high amounts that you might see are part of the gambling profits and it's just that the user is not yet withdrawing because they will still continue their goal of increasing their gambling profits.

well, people have been reminded countless times and yet, they are still storing their funds to these CEXs. they will only act if they will get rekt big time. and when it comes to gambling sites, i don't think you are saving when you have funds on them but rather just temporary holding it on the site so you can play at anytime you want. some casinos even have their handling fees if your account becomes dormant without any sort of activity. so that's not a very good idea to store your funds.

[Mauser]

1. No, crypto casino industry wouldn't get any effect from FTX bankruptcy.
2. No, different casino has different ownership, although someone can create more than 1 casino, but a scam casino wouldn't last long, that's why I don't want to play in new casino.
3. No, casino isn't a wallet and there's a chance the casino might bankrupt or they have updated the new terms that I can't accept it.
4. The casino is scam since there's no transparency.

I would say that there was a negative effect from the FTX bankruptcy, the bitcoin price dropped from 22-23,000 USD back down to 16,000 USD. But markets have calmed down already again and prices are recovering. It's probably more that there are no long term negative effects from the bankruptcy. It definitely makes no sense to keep larger amounts of money at casinos for a long time. Most people here are afraid of a possible bankruptcy of the casino that would result in a loss of our assets. In my opinion the psychological aspect of having a large balance available to gamble at any time is a bigger threat that a bankruptcy. What if we have a bad evening where we drank some alcohol and lose all our money because we kept trying to recover our previous losses? I try to have fixed limits for each week to gamble with and control my budget as much as possible. But if I had too much money at the casino it would be much harder to control myself. That is why I always make withdrawals when making a larger profit. Like this I am not getting tempted to gamble abovey budget.

[irhact]

Gambling is not a wallet saving coins even centralized exchanges are not recommended to save assets for the long term, including custodial wallets should be selected open source wallet applications are recommended to avoid wallet access vulnerabilities, but I believe no gamblers save on gambling platforms and only balances it is used for gambling according to the respective funds limit.

People do save over there and something they do that because of accumulative gambling which they involved themselves in. They keep gambling until they reached a certain goal that they set for themselves before they withdraw. Generally people enjoy using centralized platforms to store their coins as there's still a large percentage of people storing their coins on exchange and other not so friendly platforms like casinos.

Some gamblers keep funds on casinos to avoid expenses of transaction fees or delay in crediting their betting account since some betters enjoy placing bet on live games so they have to I have their funds always available to ensure they can easily place those bet.

[ethereumhunter]

Gambling is not a wallet saving coins even centralized exchanges are not recommended to save assets for the long term, including custodial wallets should be selected open source wallet applications are recommended to avoid wallet access vulnerabilities, but I believe no gamblers save on gambling platforms and only balances it is used for gambling according to the respective funds limit.

People do save over there and something they do that because of accumulative gambling which they involved themselves in. They keep gambling until they reached a certain goal that they set for themselves before they withdraw. Generally people enjoy using centralized platforms to store their coins as there's still a large percentage of people storing their coins on exchange and other not so friendly platforms like casinos.

Some gamblers keep funds on casinos to avoid expenses of transaction fees or delay in crediting their betting account since some betters enjoy placing bet on live games so they have to I have their funds always available to ensure they can easily place those bet.

It would be fine if they kept a small amount of coins because you never know what will happen to the casino. It is true that we can avoid spending transaction fees which may be repeated many times, making some gamblers keep their coins in exchanges and casinos. And it will not affect the casino business by the impact on the exchange because gamblers will continue to gamble even though the market is as unstable as it is today. Moreover, gamblers also have a choice of many coins that they can use to gamble.

[ultrloa]

Gambling is not a wallet saving coins even centralized exchanges are not recommended to save assets for the long term, including custodial wallets should be selected open source wallet applications are recommended to avoid wallet access vulnerabilities, but I believe no gamblers save on gambling platforms and only balances it is used for gambling according to the respective funds limit.

People do save over there and something they do that because of accumulative gambling which they involved themselves in. They keep gambling until they reached a certain goal that they set for themselves before they withdraw. Generally people enjoy using centralized platforms to store their coins as there's still a large percentage of people storing their coins on exchange and other not so friendly platforms like casinos.

Some gamblers keep funds on casinos to avoid expenses of transaction fees or delay in crediting their betting account since some betters enjoy placing bet on live games so they have to I have their funds always available to ensure they can easily place those bet.

It would be fine if they kept a small amount of coins because you never know what will happen to the casino. It is true that we can avoid spending transaction fees which may be repeated many times, making some gamblers keep their coins in exchanges and casinos. And it will not affect the casino business by the impact on the exchange because gamblers will continue to gamble even though the market is as unstable as it is today. Moreover, gamblers also have a choice of many coins that they can use to gamble.

If you deposit your money on casino you should take it as a loss already so that you will not get pressured about other possibilities. That's why there's an advice that gamble the amount you can afford to lose since we can make this as a basis for not getting hurt when bad times happen.

But if the amount is huge and that one is your hard earned money much better if you do regular withdrawal especially if you are already in the winning side.

[Hypnosis00]

People do save over there and something they do that because of accumulative gambling which they involved themselves in. They keep gambling until they reached a certain goal that they set for themselves before they withdraw. Generally people enjoy using centralized platforms to store their coins as there's still a large percentage of people storing their coins on exchange and other not so friendly platforms like casinos.

Some gamblers keep funds on casinos to avoid expenses of transaction fees or delay in crediting their betting account since some betters enjoy placing bet on live games so they have to I have their funds always available to ensure they can easily place those bet.

It would be fine if they kept a small amount of coins because you never know what will happen to the casino. It is true that we can avoid spending transaction fees which may be repeated many times, making some gamblers keep their coins in exchanges and casinos. And it will not affect the casino business by the impact on the exchange because gamblers will continue to gamble even though the market is as unstable as it is today. Moreover, gamblers also have a choice of many coins that they can use to gamble.

If you deposit your money on casino you should take it as a loss already so that you will not get pressured about other possibilities. That's why there's an advice that gamble the amount you can afford to lose since we can make this as a basis for not getting hurt when bad times happen.

But if the amount is huge and that one is your hard earned money much better if you do regular withdrawal especially if you are already in the winning side.

But I don't think that kind of thinking applies to everyone. Because it was not the way I think, I deposit thinking that I could get some in return which is why I have tried myself. But of course, we don't expect something huge as we already how gambling works. Well, anyways, in regard to putting money on gambling sites for many days - I'd never find it wrong if it was a trusted site, unless if the site is unreliable and has a known negative feedback.

[harizen]

It would be fine if they kept a small amount of coins because you never know what will happen to the casino. It is true that we can avoid spending transaction fees which may be repeated many times, making some gamblers keep their coins in exchanges and casinos. And it will not affect the casino business by the impact on the exchange because gamblers will continue to gamble even though the market is as unstable as it is today. Moreover, gamblers also have a choice of many coins that they can use to gamble.

It's fine to think of the security of our assets but others should not make it to the point where it's now too much overreacting.

There's really nothing wrong with just keeping the winning money on the gambling site if there's still a plan to gamble for the next session. Of course, don't do that saving purposes in a gambling site (literally without gambling activity) as that was a terrible idea and I doubt there's really a person who will do that.

I'm sure those reputable gambling sites today won't do some sh*t especially the considered big ones already in the industry.

[wxa7115]

Everything that is centralized, be it casinos or exchanges, have their own risk so we should as much as possible avoid them at all cost. Besides, saving in gambling sites will only end up stealing your coins and leave you empty. So never trust all of them, but trust your own self-custodial wallet as it’s more safe and secured.

Everything that is centralized should be avoided at all costs. Can you really keep up with that? I doubt.

Using their service is no doubt beneficial and does have advantages. Obviously, just use their service and not make them as a wallet-saving use.

And who the hell will save money on gambling sites? Those high amounts that you might see are part of the gambling profits and it's just that the user is not yet withdrawing because they will still continue their goal of increasing their gambling profits.

Right now it is almost impossible to avoid using some sort of centralized service once in a while, but that is not really the problem, the problem is that some people due to the convenience those services provide use those exchanges as a substitute of their own wallets.

And this is in fact a huge mistake, and while it is rare for this behavior to occur at casinos, it is very common at exchanges, and we have unfortunately watched the consequences that such a decision has brought to those which did this at FTX, Mt Gox and other exchanges, so this is a behavior which should be avoided at all costs.

[ethereumhunter]

Gambling is not a wallet saving coins even centralized exchanges are not recommended to save assets for the long term, including custodial wallets should be selected open source wallet applications are recommended to avoid wallet access vulnerabilities, but I believe no gamblers save on gambling platforms and only balances it is used for gambling according to the respective funds limit.

People do save over there and something they do that because of accumulative gambling which they involved themselves in. They keep gambling until they reached a certain goal that they set for themselves before they withdraw. Generally people enjoy using centralized platforms to store their coins as there's still a large percentage of people storing their coins on exchange and other not so friendly platforms like casinos.

Some gamblers keep funds on casinos to avoid expenses of transaction fees or delay in crediting their betting account since some betters enjoy placing bet on live games so they have to I have their funds always available to ensure they can easily place those bet.

It would be fine if they kept a small amount of coins because you never know what will happen to the casino. It is true that we can avoid spending transaction fees which may be repeated many times, making some gamblers keep their coins in exchanges and casinos. And it will not affect the casino business by the impact on the exchange because gamblers will continue to gamble even though the market is as unstable as it is today. Moreover, gamblers also have a choice of many coins that they can use to gamble.

If you deposit your money on casino you should take it as a loss already so that you will not get pressured about other possibilities. That's why there's an advice that gamble the amount you can afford to lose since we can make this as a basis for not getting hurt when bad times happen.

But if the amount is huge and that one is your hard earned money much better if you do regular withdrawal especially if you are already in the winning side.

That's something we have to think about but most people don't think about it all the time and maybe they keep their coins in the casino because they can return to the casino any time without having to make another deposit. But it's true that if we want to play gambling, we must think about how much we can afford to gamble and never try to exceed that limit because it will make it difficult for us later.

It would be fine if they kept a small amount of coins because you never know what will happen to the casino. It is true that we can avoid spending transaction fees which may be repeated many times, making some gamblers keep their coins in exchanges and casinos. And it will not affect the casino business by the impact on the exchange because gamblers will continue to gamble even though the market is as unstable as it is today. Moreover, gamblers also have a choice of many coins that they can use to gamble.

It's fine to think of the security of our assets but others should not make it to the point where it's now too much overreacting.

There's really nothing wrong with just keeping the winning money on the gambling site if there's still a plan to gamble for the next session. Of course, don't do that saving purposes in a gambling site (literally without gambling activity) as that was a terrible idea and I doubt there's really a person who will do that.

I'm sure those reputable gambling sites today won't do some sh*t especially the considered big ones already in the industry.

As long as they can accept whatever the risk is in keeping their coins in the casino, they can still enjoy their time playing gambling and when they leave it. That's the most important thing to know because we never know what will happen. So as long as we don't think too much about bad things that can happen, I think we will be calm and feel safe in keeping our coins or assets in a casino, especially if it's a trusted casino. Trusted casinos will help their members to protect their assets at the casino from bad things that can happen.

[KennyR]

Everything that is centralized, be it casinos or exchanges, have their own risk so we should as much as possible avoid them at all cost. Besides, saving in gambling sites will only end up stealing your coins and leave you empty. So never trust all of them, but trust your own self-custodial wallet as it’s more safe and secured.

Everything that is centralized should be avoided at all costs. Can you really keep up with that? I doubt.

Using their service is no doubt beneficial and does have advantages. Obviously, just use their service and not make them as a wallet-saving use.

And who the hell will save money on gambling sites? Those high amounts that you might see are part of the gambling profits and it's just that the user is not yet withdrawing because they will still continue their goal of increasing their gambling profits.

Right now it is almost impossible to avoid using some sort of centralized service once in a while, but that is not really the problem, the problem is that some people due to the convenience those services provide use those exchanges as a substitute of their own wallets.

And this is in fact a huge mistake, and while it is rare for this behavior to occur at casinos, it is very common at exchanges, and we have unfortunately watched the consequences that such a decision has brought to those which did this at FTX, Mt Gox and other exchanges, so this is a behavior which should be avoided at all costs.

Maybe you're right and I haven't come across any claims against cryptocurrency accepted casinos running away with the users fund. Many claims have been found against casinos, but nothing have Collapsed as the Exchanges. It is quite evident to see good number of users having their funds on the casinos. The reputed one's have got vault service and many move funds between the vault and the account wallet. For now I don't find anything risky holding on casinos, but this is not advisable as we don't know what happens the next minute.

[Betwrong]

~ I'm sure those reputable gambling sites today won't do some sh*t especially the considered big ones already in the industry.

That's right, it's a bit different with reputable gambling platforms than with centralized exchanges, even with those used by millions. We've heard lots of stories about big exchnges disappearing with people's money, but I don't remeber a single one about something similar happening with a big and reputable gambling site.

These industries are so different that I wouldn't expect a "domino effect" here.

[carlisle1]

~ I'm sure those reputable gambling sites today won't do some sh*t especially the considered big ones already in the industry.

That's right, it's a bit different with reputable gambling platforms than with centralized exchanges, even with those used by millions. We've heard lots of stories about big exchnges disappearing with people's money, but I don't remeber a single one about something similar happening with a big and reputable gambling site.

These industries are so different that I wouldn't expect a "domino effect" here.

Big and reputable casino will avoid taking that way. The business is huge, and they are earning a lot of money from their patrons. I also
believe that those casino owners will do their best to keep the business alive.

Though we can't conclude since the future is not ours to conclude, maybe there's a small chance in which a reputable casino might
disappear and runaway with people's money.

This domino effect for now is not present to the casino industry. Reputable business owners are doing everything to assure that
the business will continue and they will keep all those clients being satisfied while playing.

[AicecreaME]

~ I'm sure those reputable gambling sites today won't do some sh*t especially the considered big ones already in the industry.

That's right, it's a bit different with reputable gambling platforms than with centralized exchanges, even with those used by millions. We've heard lots of stories about big exchnges disappearing with people's money, but I don't remeber a single one about something similar happening with a big and reputable gambling site.

These industries are so different that I wouldn't expect a "domino effect" here.

Big and reputable casino will avoid taking that way. The business is huge, and they are earning a lot of money from their patrons. I also
believe that those casino owners will do their best to keep the business alive.

Though we can't conclude since the future is not ours to conclude, maybe there's a small chance in which a reputable casino might
disappear and runaway with people's money.

This domino effect for now is not present to the casino industry. Reputable business owners are doing everything to assure that
the business will continue and they will keep all those clients being satisfied while playing.

Reputable casinos won't really vanish into thin air with their players money because they have built their credibility, reliability, and name for a long time already. They won't do such impulsive and selfish act mainly because they care for their patrons. These casinos that are well-known in the gambling industry surely are making millions of profits out of their players loyalty to them. Hence, betraying them will not be an option. I believe this will be the case for long time operating casino that has a well-established name to speak for the quality of services they are offering.

While what the future holds is still uncertain to us, there's a higher chance that these reputable casinos won't do that damaging move because they'll profit even more if they'll continue operating anyway, instead of stealing the money stored of their players, which could be little compared to what they will earn on their daily operating basis. However, I also do not disregard the possibility that some casino might go bankrupt and do the unexpected to escape the consequences.

The best thing to do here would be just always bet what you can afford to lose. The moment you deposit that certain amount in a gambling site, you are willing to take a risk . Be disciplined enough and be smart. Always double check whether a casino is to be trusted or not if you don't want to have any regrets.

[Mauser]

Reputable casinos won't really vanish into thin air with their players money because they have built their credibility, reliability, and name for a long time already. They won't do such impulsive and selfish act mainly because they care for their patrons. These casinos that are well-known in the gambling industry surely are making millions of profits out of their players loyalty to them. Hence, betraying them will not be an option. I believe this will be the case for long time operating casino that has a well-established name to speak for the quality of services they are offering.

While what the future holds is still uncertain to us, there's a higher chance that these reputable casinos won't do that damaging move because they'll profit even more if they'll continue operating anyway, instead of stealing the money stored of their players, which could be little compared to what they will earn on their daily operating basis. However, I also do not disregard the possibility that some casino might go bankrupt and do the unexpected to escape the consequences.

The best thing to do here would be just always bet what you can afford to lose. The moment you deposit that certain amount in a gambling site, you are willing to take a risk . Be disciplined enough and be smart. Always double check whether a casino is to be trusted or not if you don't want to have any regrets.

I agree with you, there are online crypto casinos who have been around for 5 years. They invested so much money and time to build up a profitable brand name that it seems wrong of them to risk everything for scamming a few customers. Once word gets out that there are issues with the casino all the customers will stop gambling and the website is dead. Online casinos are already a profitable business by itself, all their games have a house edge to make them money long term. Why risk a long term profitable business for some short term gains?

Betting only with the money that we can afford to lose seems like the best approach. And whenever we make a decent profit while gambling I would recommend to withdraw some of that money. There is no real point in leaving large amounts of money at the casino as it will not give any passive income. Withdrawing and depositing more regularly will cost us a bit more in transaction fees, but atleast our coins are save. Especially when gambling at multiple casinos we should keep an eye on our bankroll and not leave it laying around.

[Blawpaw]

The gambling industry in cryptocurrency is responsible for a lot of publicity to the crypto industry as well as it as brought a lot of newcommers into cryptos. Now, if the crypto industry is going through a rough phase it doesnt mean that casinos will also be affected. In fact, I do believe that the bear market is something good for the crypto gambling industry.