Top 3 Reasons Why Cytpocurrency Gambling is more Addictive than Fiat Gambling!

[piebeyb]

I do not call myself a gambling addict but I am a regular gambler but at least with minimal bets nowadays. I am not for number 1 as OP stated since I am a holder of cryptocurrencies, especially bitcoin. So I am into crypto gambling rather than fiat online gambling partly because of anonymity. Yes, I knew a lot of crypto casinos are asking for KYC but there are still some that are not asking for it. Although they might ask for it if the amounts are probably too high like hundreds of thousands of dollars. So I am using crypto casinos for my gambling mainly because I am a big fan of cryptocurrencies.

yes because the OP wrote about casinos using crypto in this forum that almost the average rate of forum users as a whole owns crypto. of course the OP understands that almost the average gambler who comes from this forum clearly owns crypto and uses crypto to play in casinos compared to fiat currency, besides gambling and online casinos are used to make it easier for players to multiply the amount of crypto they hold to make it even more, but mostly many people lose their crypto after gambling  

[Solosanz]

the reason I choose to gamble at crypto casinos over fiat casinos is because for me crypto casinos often give me wins even if only small wins. I have felt several times on my slot game that fiat casinos spend their balances faster, but crypto casinos still provide little profit.

but I don't know if it's just my feeling or indeed everyone feels what I feel.

Yeah I experienced the same because slots machine in land based casino seems either manipulated or the RTP rate is lower than online slots. There's no way for us to know the system behind the slots machine, even the worker already trying to convince us if the slots machine is trusted enough, but if we can't verify, we can't say his words is right.

But if you're betting in sports, I think either crypto casino or fiat casino is same, the only difference is the odds and betting options.

[Hispo]

If there is actually some directly relation between cryptocurrency gambling and highest inclination for people to continue to gamble in the long term, I would say it has something to do with the disassociation between the amount of fiat at stake and value of the coins.

It is something similar to what casinos do with the chips, people using chips instead cash, makes it easier for them to continue to gamble for hours, without realizing explicitly on the money they may be losing through the hours.

Of course, it is an addition to what you have already listed in the original post. 

[YOSHIE]

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.

I've read about The Top 3 Reasons Why Crypto Casinos Are Growing in Popularity, since the Covid-19 pandemic has hit the world.

1. Encrypted payment methods
The most crucial reason for the growing popularity of crypto casinos is that their payment methods are encrypted. End-to-end encryption and SSL (Secure Socket Layer) encryption make sure no external party can abuse and see your bank account information. These methods translate all your data and info into unbreakable codes. For crypto casinos, you’ll need an e-wallet, which enables fast deposits and withdrawals that conventional banks can’t offer.

2. An almost unlimited choice of games
Like traditional land-based and online casinos, crypto casinos offer everything from poker, blackjack, baccarat, reel spinning, and roulette to slots. You can find great selections of casino games in crypto casinos, where, after getting accustomed to the rules, you can win real prizes and bonuses. Most crypto casinos offer luxurious no-deposit and welcome bonuses for newbies, too.

3. Legal status
Of course, some crypto casinos aren’t reputable and trustworthy, and you can easily check that by looking for the license on their website. A license shows that the crypto casino has a legal status and offers fair play. Look for this license on their website in PDF format. If you have trouble finding it on the website of a particular crypto casino, look for another casino with a license.

Globally the points you say make sense, it tends to be that fiat casinos prefer personal identification such as personal Bank Accounts etc., rather than crypto casinos, It's no wonder that nowadays many of the industry casino fiat are turning to casinos crypto for various reasons, maybe one of them is that visitors to fiat casinos are decreasing, people prefer crypto casinos.

I think there are other reasons that make more sense and many gambling addicts tend to choose crypto casinos over traditional online casinos.
for example:

Using Cryptocurrencies means that players will experience shorter withdrawal time frames as transactions do not need to go through as much processing as when using traditional currencies. It also gives players the option to register at certain casinos that do not offer their country's currency as a payment option at certain casinos. This then takes the magical world of online gaming into uncharted territory – and offers faster withdrawals, meaning you get your wins quicker!

This factor is the reason why it is quite rational to be accepted by many of us in every country to choose crypto casinos over traditional/fiat casinos.

[Pierre 2]

I think using real currency like Bitcoin to directly gamble and win is the biggest reason for it to become more popular. With that bitcoin you want, you can hold and see it as investment, you can deposit to "earn" schemes in crypto exchanges, you can directly do transactions to buy things you want. Chips which you are issued at physical gambling house is just meh thing. I also think that amount of incentives with crypto gambling is in general better. As we know most of crypto casinos were born in bitcointalk, they gave a lot to community and customers. For example right now I am using stake com, and at the same time I promote them through my signature and its cool.

[bitzizzix]

Maybe in my opinion in terms of transactions and also no commissions especially in terms of refills and fast payments and also no third parties during the process of sending money with bitcoins or other coins, and also eliminating additional fees. And the typical online casino that uses the fiat method may have common problems with delayed payments and slow transactions.
and the most fortunate are those who have the right strategy and betting habits, bitcoin gambling can generate huge profits when the price goes up like recently, and it is an activity that stimulates crypto casino players to act quickly.

[maydna]

the reason I choose to gamble at crypto casinos over fiat casinos is because for me crypto casinos often give me wins even if only small wins. I have felt several times on my slot game that fiat casinos spend their balances faster, but crypto casinos still provide little profit.

but I don't know if it's just my feeling or indeed everyone feels what I feel.

Yeah I experienced the same because slots machine in land based casino seems either manipulated or the RTP rate is lower than online slots. There's no way for us to know the system behind the slots machine, even the worker already trying to convince us if the slots machine is trusted enough, but if we can't verify, we can't say his words is right.

But if you're betting in sports, I think either crypto casino or fiat casino is same, the only difference is the odds and betting options.

Luckily for those of you who have experienced how fiat casinos work, I haven't tried playing in fiat casinos. That's because I have to use my bank account to deposit money into my gambling account, which is in a fiat casino. I don't want to get in trouble with the bank that will know where the money in my savings is used. I'd rather stick with crypto-only casinos than fiat casinos because my government is trying to investigate fiat casinos that many people already use for gambling.

But I guess the odds and betting options will probably be the same between crypto casinos and fiat casinos. But I don't know, and I'm just guessing.

[Yatsan]

Volatility is the main thing to both gambling and cryptoinvestment. I view it as a bet within a bet; converting fiat to crypto would already be the first bet, and engaging it to gambling activity would be the second one. Why is it thrilling? Profit potential ofcourse. You may lose on your investment but you could win it back in the game, and vice versa. High risk high returns should I say. This idea simply makes it more addictive but both has risks within; fiat and crypto gambling. In both currencies, risk would be present and things are full of uncertainties.

the reason I choose to gamble at crypto casinos over fiat casinos is because for me crypto casinos often give me wins even if only small wins. I have felt several times on my slot game that fiat casinos spend their balances faster, but crypto casinos still provide little profit.

but I don't know if it's just my feeling or indeed everyone feels what I feel.

I think that is not dependent with the currency you are bettinf but your fate solely. Try continuously betting using fiat and crypto, you'd end up being broke to both of it, especially if you are not lucky enough and that has nothing to do with the medium you are using; gambling is gambling.

[Cling18]

Maybe in my opinion in terms of transactions and also no commissions especially in terms of refills and fast payments and also no third parties during the process of sending money with bitcoins or other coins, and also eliminating additional fees. And the typical online casino that uses the fiat method may have common problems with delayed payments and slow transactions.
and the most fortunate are those who have the right strategy and betting habits, bitcoin gambling can generate huge profits when the price goes up like recently, and it is an activity that stimulates crypto casino players to act quickly.

I agree that cryptocurrency gambling is more convenient and could guarantee anonymity compared to fiat transactions. I've been playing in a fiat-based casino before and the transactions need third parties which takes the transaction longer. I like how crypto transactions make our gambling journey easier though the real challenge is its volatility which is also an edge at the same time since we could also generate profit from it. Crypto casino provides the guarantee of anonymity so big-time gamblers can keep their identities safe when gambling.

[Mauser]

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.

I have no personal experience with gambling addictions, so it's bit hard for me to make a general interpretation of fiat vs crypto gambling  cases. Over the past 10 years I have gambled with fiat money and with crypto currencies quite a lot and found there are some differences. The biggest difference between the two is the high volality in the bitcoin and other crypto market. This volatility can lead to much higher losses than the actual coin we lose. For example, if we gamble away last year 1 BTC and then BTC makes a 100% jump this year our loss would feel twice as hard. This is the main argument why I don't want to use cryptos when the prices are low. Using fiat to gamble and withdraw in cryptos is the best way. All the hodl investors probably feel the same and are not so likely to get addicted to gambling with cryptos.

[armanda90]

I think with cryptocurrency gambling ability for withdrawing or deposit fund without KYC required, some fiat gambling we need verify our Bank account and possibility acquired with KYC. But using cryptocurrency support for deposit and withdrawing in gambling platform we can invest or hold it when getting profit, but with fiat there are not any change price impact how long hold it.

Most gambler reason choosing with cryptocurrency gambling platform than fiat because they want to be anonymous with gambling platform without know their identity by passing KYC. I like with several gambling platform exactly with cryptocurrency gambling still accepted user without have KYC.

[Zlantann]

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.

As a crypto gambler you are also an investor. This because the price of the cryptocurrency in your account can appreciate making you gain some profit. It is important to know that it could move also to the other direction which might lead to losses.
 

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.

Most fiat gambling companies in my location have physical offices.
Easy accessibility is another reason why cryptocurrency gambling is addictive. Sometimes you need to move out of the house and go into a fiat casino to gamble. But you can gamble with cryptocurrencies with your phones and laptops at the comfort of your home or office.
Another good reason is that one can gamble with cryptocurrency at anytime. You can gamble in the night or day conveniently but most fiat gambling firms are physically located and they have closing hours.    

[ryzaadit]

I don't believe number 2.

Because, even with a casino who are offering non-KYC feature. In their term & condition, always give you statement (They can ask you KYC, If there has something to do). That's why never trusted casino who offering non-KYC.

Crypto gambling are being loved for the easily transaction & gameplay, because you can play on any place, any time, and fast transaction.

[masulum]

That's right @ryzaadit i hace same opinion with you, gambling transactions with crypto are more favorites because of the ease in sending and withdrawing money that is not connected to banking. Then, users can also freely maintain their privacy. Many people say that crypto is the best for maintaining privacy, this is become the strong reason besides fast transactions.

[Woodie]

I don't know if both gambling methods are any different to be honest but if it were about virtual gambling verses in person gambling at a brick and mortar casino there is a huge difference...and playing online is more addictive and the fact that you can play from your comfort zone makes it even scary thinking about it unlike playing from a brick and mortar casino where you will be time cautious of where you are and can't stay there form 6-6.

[milewilda]

That's right @ryzaadit i hace same opinion with you, gambling transactions with crypto are more favorites because of the ease in sending and withdrawing money that is not connected to banking. Then, users can also freely maintain their privacy. Many people say that crypto is the best for maintaining privacy, this is become the strong reason besides fast transactions.

Yes, not all people are really that confident when it comes to their identity which it is really just that understandable that they would really be that preferring on having that anonymous ways for them to gamble out.
On the time that crypto gambling was possible or available and known about privacy and anonymity then this is where some gamblers do raise up their interest and this is the primary reason on why
they do prefer on having that crypto gambling rather than on staying with fiat which we know that identity is really be that exposed.Plus the easiness on making deposits and withdrawals
is really just that a plus.

[DoublerHunter]

That's right @ryzaadit i hace same opinion with you, gambling transactions with crypto are more favorites because of the ease in sending and withdrawing money that is not connected to banking. Then, users can also freely maintain their privacy. Many people say that crypto is the best for maintaining privacy, this is become the strong reason besides fast transactions.

^Definitely right and it is no surprise that more and more gamblers are turning to cryptocurrency gambling platforms because they offer greater privacy and potentially higher returns, making them a popular choice for those looking to gamble online. But believe me, you cannot find a successful gambling casino that does not require KYC, all of them are acquiring KYC as a part of their legitimacy. The only advantage if they will use crypto as another way of depositing money which is you can avoid linking your bank account to the casino. Because of using cryptocurrency, it is lack of regulation or is often unregulated or loosely regulated, which can make it more difficult for individuals to recognize or seek help for a gambling problem.

[Fivestar4everMVP]

I don't believe number 2.

Because, even with a casino who are offering non-KYC feature. In their term & condition, always give you statement (They can ask you KYC, If there has something to do). That's why never trusted casino who offering non-KYC.

Well, for me, I've come to believe that every centralized casino is complaint to asking users to pass kyc verification at any time, this have given me peace of mind, that every time I signed up on a new casino, the first thing I do is to try to go through the kyc verification process before even depositing and playing on the same casino, I do this because nothing annoys me like depositing and playing freely on a casino, but being blocked and asked to pass kyc verification upon requesting a withdrawal.

I never believe any centralized Casino that say they don't request for kyc verification, that is just a marketing tactics they use to attract customers.

[ralle14]

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 believe is related to this thread then I would add it to this topic.

They're on point but, the second and third reasons may vary on the casino you're playing since others are starting to introduce different levels of KYC and automatically convert your balance to the current fiat value so the experience might not be the same.

The instant withdrawal (and deposit) should be up there as well if I could suggest another reason since I rarely experience downtimes with my gambling transactions whenever I cash them out of the casino.

[Darker45]

This is actually relative. Brick and mortar casinos provide a different gambling experience. Crypto casinos have also their own distinct features. While there are gamblers who are fond of crypto casinos, there are many others who don't like online gambling. The experience playing inside a brick and mortar casino is a world different from the experience playing in front of your screen and inside your own house or room.

My point is that crypto gambling may be more addictive to some, but others may find brick and mortar casinos a lot more addictive.