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

[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.