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Author Topic: Top 3 Reasons Why Cytpocurrency Gambling is more Addictive than Fiat Gambling!  (Read 459 times)
elevates (OP)
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March 20, 2023, 02:52:19 PM
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 #1

It is not like everyone is going after crypto gambling but after COVID-19 the business of online gambling has increased more than offline gambling. Although fiat online gambling users are more than crypto ones, they tend to visit an offline casino after a few online sessions as they miss the atmosphere of an offline casino.

Whereas cryptocurrency casino users would always be loyal & habitual which makes them more addicted to gambling than a fiat gamblers. Below listed are the three reasons which I think make them more inclined.

1. Immediate gratification:

One explanation could be the immediate and continuous enjoyment that bitcoin gaming offers, whether you win or lose. A cryptocurrency can be swiftly converted into fiat currency or other cryptocurrencies, as opposed to traditional gambling, which typically calls for cash or chips, what I am referring to here is offline gambling. This feeling of immediate satisfaction can increase excitement and encourage players to keep playing.

2. Anonymity:

The amount of privacy gained by gambling with cryptocurrencies is unbelievable! Non-KYC platform, which is common may make some people feel more secure since they can offer a level of secrecy and security that more traditional forms of gambling cannot. This sense of anonymity may make it easier for individuals to engage in risky or addictive behaviors without fear of being judged or identified.

3. Thrill of volatility:

We are all aware of how unpredictable the cryptocurrency market is, with prices varying quickly and erratically. Some people may become addicted to the "high-risk, high-reward" mentality as a result of this volatility. Even though it may result in severe financial loss, they may get high from taking chances and placing large wagers.



Do you guys think my assessment is to the point or do you think there are more reasons related to cryptocurrency gambling addiction? Please go ahead and reply to this thread. If you have a valid point that I think is related to this thread then I would add it to this topic.
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March 20, 2023, 03:05:34 PM
 #2

The three points you mentioned are absolutely on point, for me personally, I have never played on online fiat casino, I remember playing with fiat in my early days of gambling either twice or thrice in an offline casino, then I stopped because I feared that a family member or someone that knew me could see me and report me to my parents.

But ever since I discovered online gambling, and also with cryptocurrency, I started gambling again and since then, I've not stopped, right now, my family and most of my friends do not know I gamble, except those that also gamble,
So, cryptocurrencies have made online gambling very easy and fun as well, and I agree that, it has contributed a little, in its gambling addiction.

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March 20, 2023, 03:08:25 PM
 #3

I think that your points are fair, though I would not say that they are the only reasons that cryptocurrency gambling is supposedly more addictive than fiat gambling. It would be complex and would vary from individual to individual. I will agree that the more accessible, instantaneous and sometimes, more anonymous (I say sometimes as most casinos will ask for KYC if you play with any significant amount and therefore the experience is not really anonymous) nature would enable addiction more than what fiat/offline gambling would.
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March 20, 2023, 03:11:15 PM
 #4

2. Anonymity:

The amount of privacy gained by gambling with cryptocurrencies is unbelievable! Non-KYC platform
Not true at most of gambling sites nowadays when they need to have license and have to meet KYC/ AML enforcement from authorities.

Quote
3. Thrill of volatility:

We are all aware of how unpredictable the cryptocurrency market is, with prices varying quickly and erratically. Some people may become addicted to the "high-risk, high-reward" mentality as a result of this volatility.
Gambling has many types and price prediction is only part of this industry. I see it is a small part and one of other bigger parts are slot games which are very addictive.

You forgot a most important trait of cryptocurrency gambling, Provably Fair [1, 2]. There are Provably Fair Verifiers to check Provably Fair on casinos such as tools from BTCGOSU

[1] https://en.bitcoin.it/wiki/Provable_fairness
[2] Provably fair explained

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March 20, 2023, 03:12:34 PM
 #5

The 3 reason mentioned doesn’t affect my addiction on my gambling since that is just the currency and it doesn’t affect or give joy to my gambling experience. Maybe on the convenience of deposit but I don’t pay much attention on anonymity when gambling I’m just using it for fun. I’m more concern on the outcome because it’s nonsense that you are playing anonymous if you are keep losing on the game itself.

All the points taken is about the cryptocurrency convenience and not about fator that gives joy on gambling. Fiat and crypto are just currency, it doesn’t give impact to the game.

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March 20, 2023, 03:16:23 PM
 #6

It is not like everyone is going after crypto gambling but after COVID-19 the business of online gambling has increased more than offline gambling. Although fiat online gambling users are more than crypto ones, they tend to visit an offline casino after a few online sessions as they miss the atmosphere of an offline casino.

Whereas cryptocurrency casino users would always be loyal & habitual which makes them more addicted to gambling than a fiat gamblers. Below listed are the three reasons which I think make them more inclined.
But there are many people that are online making use of fiat online casinos too and they are addicted.

1. Immediate gratification:

One explanation could be the immediate and continuous enjoyment that bitcoin gaming offers, whether you win or lose. A cryptocurrency can be swiftly converted into fiat currency or other cryptocurrencies, as opposed to traditional gambling, which typically calls for cash or chips, what I am referring to here is offline gambling. This feeling of immediate satisfaction can increase excitement and encourage players to keep playing.
Before I joined this forum, I have always prefer to bet online and withdraw to my bank account and it was very simple to do.

2. Anonymity:

The amount of privacy gained by gambling with cryptocurrencies is unbelievable! Non-KYC platform, which is common may make some people feel more secure since they can offer a level of secrecy and security that more traditional forms of gambling cannot. This sense of anonymity may make it easier for individuals to engage in risky or addictive behaviors without fear of being judged or identified.
Most bitcoin and other crypto gambling sites today are requiring for KYC. In my country, on fiat casino, you do not even need KYC because all about you can be traced to your bank. I was wondering why no KYC is not needed for gambling in my country in fiat gambling sites, I later realized that no privacy and no anonymity as your bank account is linked to your account on the local gambling sites. The local gambling site will instruct you to use the name that correspond to your bank account for registration.

3. Thrill of volatility:

We are all aware of how unpredictable the cryptocurrency market is, with prices varying quickly and erratically. Some people may become addicted to the "high-risk, high-reward" mentality as a result of this volatility. Even though it may result in severe financial loss, they may get high from taking chances and placing large wagers.
I agree, but you can also make use of stable coins like USDT, you are not wrong though.

The three points you mentioned are absolutely on point, for me personally, I have never played on online fiat casino, I remember playing with fiat in my early days of gambling either twice or thrice in an offline casino, then I stopped because I feared that a family member or someone that knew me could see me and report me to my parents.
addiction.
I have never played using betting agents or offline casino, I played on online fiat casinos too. I was addicted with online fiat casino.

My post is based on the topic title. Be it crypto or fiat, both are addicting.

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March 20, 2023, 03:19:07 PM
 #7

Covid 19 luck down has indeed opened a new trend of gambling as most gamblers avoid the physical casino and adopted online casinos, this was a significant change and due to the privacy that cryptocurrency brought more people can now gamble under various identities without public exposure.

-Ops did well in outlining the three points which are very significant in today's online gambling sites, as we are becoming more aware of the various advantages of online casinos in our modern life.
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March 20, 2023, 03:36:09 PM
 #8


Although fiat online gambling users are more than crypto ones, they tend to visit an offline casino after a few online sessions as they miss the atmosphere of an offline casino.


The popularity of online casino is growing fast because of cryptocurrency that has been introduced to it and soon the paradigm will shift that more gamblers will detest playing off line.


Quote
Whereas cryptocurrency casino users would always be loyal & habitual which makes them more addicted to gambling than a fiat gamblers. Below listed are the three reasons which I think make them more inclined.


No casino players are not loyal, they are only playing on their preferred casino, they are playing to win and not to be loyal. Everyone wants to win



Do you guys think my assessment is to the point or do you think there are more reasons related to cryptocurrency gambling addiction? Please go ahead and reply to this thread. If you have a valid point that I think is related to this thread then I would add it to this topic.


Well some of the reasons are cool but I don't think Anonymity is the reason because reputable casinos are driving gamblers to KYC making them disclose their identify which is not the purpose of cryptocurrency.

Personally I think one of the major reason is the speed of deposit or withdrawal without any third party. That could be addictive that because nothing encumbers a bettor from depositing so a gambler is at liberty to always refund anything he runs out of coins. The speed of deposit delivery at 1 confirmation is more comfortable than playing through fiat.

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March 20, 2023, 03:46:46 PM
 #9

Due to some advantages, the tendency to gambling with cryptocurrency is much higher. As a result, the crypto gambling platform has developed rapidly. Here the most important thing is that gamblers are tries to remain anonymous. Many people emphasize deposit and withdrawal system. It depends entirely on the gambler's own self. Moreover, I used to do gambling by Fiat Money in 2012. But since getting the advantages of Crypto, i never returned to fiat till today.

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March 20, 2023, 03:57:56 PM
 #10

The 3 reason mentioned doesn’t affect my addiction on my gambling since that is just the currency and it doesn’t affect or give joy to my gambling experience. Maybe on the convenience of deposit but I don’t pay much attention on anonymity when gambling I’m just using it for fun. I’m more concern on the outcome because it’s nonsense that you are playing anonymous if you are keep losing on the game itself.

All the points taken is about the cryptocurrency convenience and not about fator that gives joy on gambling. Fiat and crypto are just currency, it doesn’t give impact to the game.

Yes overall it is an advantage of crypto itself, for me it also doesn't really matter about it because the average person does gambling for pleasure and the results of gambling itself including me.
But for me when using crypto to play gambling the sensations that are given are more interesting and when using crypto which has a high value it is crazier and very ambitious.
but whether addicted or not in my opinion is the same, because before I switched to using crypto as a gambling tool I was already addicted to gambling.

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March 20, 2023, 04:10:42 PM
 #11

2. Anonymity:

The amount of privacy gained by gambling with cryptocurrencies is unbelievable! Non-KYC platform, which is common may make some people feel more secure since they can offer a level of secrecy and security that more traditional forms of gambling cannot. This sense of anonymity may make it easier for individuals to engage in risky or addictive behaviors without fear of being judged or identified.
Anonymity also depends on the regulations set by each casino. Even though the casino uses cryptocurrency as payment, KYC will be applied when a user withdraws a certain amount. True anonymity cannot be obtained completely, the application of KYC also avoids money laundering practices.

Any gambling can be addictive depending on how it is done. If gambling is only for continuous profit, it becomes the wrong goal.
Each bet will not have a winning streak, there will be a break from a few losses.
if you don't have any strategy then you will likely get addicted and continue to spend your spare cash.

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March 20, 2023, 04:28:14 PM
 #12


The ones only exposed to crypto I think will not try the fiat casino. Besides being loyal, crypto users I think are not willing to try. 

Once you have swallowed the orange pill, you are already awaked and will just keep yourself awake. And then it's not just being addicted to Bitcoin casinos but also addicted to cryptocurrency.



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March 20, 2023, 04:29:29 PM
 #13

Anonymity

It can achieved if you know how to pass KYC. One the biggest problem of online KYC system is that you as a user are not physically present. There are several ways to pass KYC without you as a user providing your documents or face. I won't go into this topic in brief but if you know the right keyword then you can easily find the hack on Google. Other than that there are a few casinos that do allow users to gamble without any going through KYC.
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March 20, 2023, 04:32:38 PM
 #14

It baffles me why a gambler would be thrilled with the high volatility. I mean you're already risking just from converting fiat to a fluctuating cryptocurrency so why add another? I guess this is true to most high rollers where a 10% increase could have a significant effect on their profits. I use them to gamble as well but I rather have the same value or close when I cash out.

R


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March 20, 2023, 04:38:39 PM
 #15

What you say is to the point and I agree. But anonymity is probably the main thing that crypto gamblers consider for gambling because we can use crypto without depositing it through our bank account. This will protect us if there is "control" from the bank at any time so that they will suspect that the funds in the bank are being sent to the gambling account.

And because of Covid 19, online fiat and crypto casinos are more known by gamblers. And crypto casinos offer something different from online fiat casinos in that users can gamble from their homes and hide their identities without doing KYC. But the casino can implement KYC in all crypto casinos. Even if we don't want it, the casino can do it anytime.

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March 20, 2023, 04:38:57 PM
 #16


The ones only exposed to crypto I think will not try the fiat casino. Besides being loyal, crypto users I think are not willing to try.  

Once you have swallowed the orange pill, you are already awaked and will just keep yourself awake. And then it's not just being addicted to Bitcoin casinos but also addicted to cryptocurrency.


i can agree with your point on this. once you are acquainted with crypto, it seems it is hard to use fiat in your gambling activities. the advantages of using crypto casinos has been tackled here in the forum many times over. and one distinct advantage is playing without the submission of kyc docs, in which, you will be required to do so if you are gambling in fiat especially if you are using your debit or credit card.
but as we noticed, only crypto users can truly appreciate those advantages, whether anonymity or fast transactions per se, as they experience the difference of using crypto gambling sites over fiat-based casinos. let's put it this way, you will hardly go back to fiat gambling once you tasted the experience of crypto gambling.

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March 20, 2023, 04:46:19 PM
 #17

Thrill is the enough for the online gambling,because in the fiat and offline gambling people use to involve in malpractice to win.But such thing is not possible for the users,some scam gambling owners and developers may involve in such malpractice to earn additional money.Some shit gambling will use the fake winners of their friends.If the gambling not involved in such cheap things,they may win the hearts of gamblers.Then they can easy increase the users to the platform and survive for the longer period.

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March 20, 2023, 04:57:14 PM
 #18

Covid 19 luck down has indeed opened a new trend of gambling as most gamblers avoid the physical casino and adopted online casinos, this was a significant change and due to the privacy that cryptocurrency brought more people can now gamble under various identities without public exposure.

-Ops did well in outlining the three points which are very significant in today's online gambling sites, as we are becoming more aware of the various advantages of online casinos in our modern life.

It’s true,in my country the people had get involved in more on online gambling by the COVID 19 lockdown.Due the absence of physical contact,they had started to use many online gambling.Actually with the three years,they was get addicted to online gambling.Sure it’s hard to make them to change their activities.If we follow certain things for the period of 14 days continuously,it will become our daily habit.Now the offline gambling will suffer a lot for sure.

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March 20, 2023, 05:40:11 PM
 #19

Anonymity is only for decentralized casinos not for licensed casinos of course they will be required to complete KYC at any time. so you can say it's not completely Anonymous, but transacting with crypto and gambling using it is much better because the process is fast and safe. Online gambling using crypto is currently in great demand compared to offline gambling using fiat money

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Wiwo
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March 20, 2023, 05:58:58 PM
 #20

If we follow certain things for the period of 14 days continuously,it will become our daily habit. Now offline gambling will suffer a lot for sure.
Is it 14 days, I thought the philosophy is for 21 days and not 14 days for activities to become habits, well the fact that covid-19 have made most players adopt online casino and with the increase in the number of players in online casinos, I can't say much about how players. Are addicted to online casinos.

-Since we don't have any parameter to measure the percentages of online gambling addicts, and since this activity can be done in private make it is hard to notice addictive behaviour in players.
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