There are many advantages to the relationship between gambling and Bitcoin.

[tusandii]

-snip-

Bitcoin and gambling, a fantastic combo! But as you said, there are downsides, folks. Secure and decentralized, sure, but what's the point if the platform's centralized? Decentralized platforms aren't flawless either. More control, yeah, but tough to use and not-so-friendly. Less regulated too, so scams and fraud? Watch out! The answer? A hybrid! A mix of Bitcoin's security and privacy with centralized platform's ease and regulation. Can it happen? Uncertain, but I'll wager on it - in Bitcoin, naturally!

In the crypto gambling industry Bitcoin cannot be separated from gambling, but in this era I don't pay much attention to the fact that they can still be decentralized because there has been a lot of interference from outside parties such as the state government.
But I don't care about that because I think gambling is fun so whatever happens as long as it doesn't have a big impact on my finances is not a big problem.
Yes, I know that and caution must always be prioritized in the gambling industry because there are so many scam sites that exist.

[Fortify]

There are many advantages to the relationship between gambling and Bitcoin. Firstly, Bitcoin provides a secure and decentralized way to gamble online, which is attractive to many gamblers who value their privacy and security. Transactions are processed quickly and can be completed without third-party intermediaries, making it a popular choice for online gambling sites.

Another advantage of using Bitcoin for gambling is that it allows for more anonymity than traditional payment methods. This can be especially important for gamblers who wish to keep their gambling activities private.

Furthermore, Bitcoin transactions are often cheaper and faster than traditional banking methods, which can save gamblers money and time.

Many online casinos and sports betting sites now offer exclusive bonuses and promotions for Bitcoin users, which can provide gamblers with extra incentives to use Bitcoin for their online gambling activities.

Can you tell us another advantage of opening an account in a Bitcoin Sportsbook?

A lot of these so-called advantages are disappearing over time for different reasons. Referring to anonymity in relation to cryptocurrency is getting harder by the day, because so many transactions are tracked in the background from exchanges and peer to peer trading has been targeted by financial regulators recently because they don't keep the same level of records that banks do. Promotions are also widespread and in many cases a lot greater with fiat currency casinos in my experience, that being said there are some great bitcoin gambling sites offering bonuses out there. Potentially greater odds would be the biggest benefit to using a crypto sportbook over any other type.

[SatoPrincess]

For me, one of the pros of using a casino that accepts bitcoin is the anonymity it provides (at least casinos that do not require kyc) I can easily deposit and withdraw my winnings to my wallet without any third party knowing what I’m doing. If I was to use fiat to gamble, the bank would have a record of my deposit and can dictate where I can send my money, I don’t like that one bit.

[Webetcoins]

I feel like biggest advantages of using Bitcoin in online gambling platforms is to avoid some countries' regulations. It can be very hard to deposit local currency to bank account of gambling platforms. But its so much quicker and easier to do same with Bitcoin. Most countries don't follow Bitcoin transactions in such situations because its not exactly something illegal. Its legally grey area. It gives chance to many people around the world to gamble in 5 minutes.

It's not that easy since most casinos have to uphold the terms of their license and not allow people from countries where gambling is banned to play. If you use VPN to circumvent the restrictions, you can be banned from the casino and denied payment. I wouldn't call that the biggest advantage of bitcoin.

The real advantage of bitcoin casinos is anonymity of payments, where you don't have to use your bank account at all. All you do is transfer bitcoin and get it back, and then you can find a store or service that accepts direct, no KYC bitcoin payments and you're all set. You've gambled without anybody knowing, you've earned profit, and you've spent that profit, all anonymously.

Is it really necessary to spend the Bitcoins directly? You can simply just keep them and convert them to fiat later whenever you need cash, no one would know that you've got cash from withdrawing Bitcoins from a gambling platform, and you should be good that way too. Also, you will give yourself a hard time trying to find a store to spend your Bitcoins I'm sure.

Also, I think there are some casinos that allow their gamblers to use VPN without any issues, though I never tried it myself but I think Stake allows it, I never heard anyone saying that they've got banned from Stake for using a VPN.

[jaberwock]

Bitcoin and gambling, a fantastic combo! But as you said, there are downsides, folks. Secure and decentralized, sure, but what's the point if the platform's centralized? Decentralized platforms aren't flawless either. More control, yeah, but tough to use and not-so-friendly. Less regulated too, so scams and fraud? Watch out! The answer? A hybrid! A mix of Bitcoin's security and privacy with centralized platform's ease and regulation. Can it happen? Uncertain, but I'll wager on it - in Bitcoin, naturally!

In the crypto gambling industry Bitcoin cannot be separated from gambling, but in this era I don't pay much attention to the fact that they can still be decentralized because there has been a lot of interference from outside parties such as the state government.
But I don't care about that because I think gambling is fun so whatever happens as long as it doesn't have a big impact on my finances is not a big problem.
Yes, I know that and caution must always be prioritized in the gambling industry because there are so many scam sites that exist.

Of course it can. Before crypto gambling came, there is already a Bitcoin. Then some gambling sites don't support Bitcoin. Bitcoin itself is still decentralized because it can not be totally stopped. There is also fully decentralized gambling sites here. It's important to pay attention to the government's order because you don't want to get in jail or being fined aren't you? It is still better to enjoy gambling if you have a peace of mind. Gambling is so risky.

No matter how we think we are in control of our selves, there will be a time that we can over spend but as long as we can go back in track again, it's only fine. Losing money occurs too due to scams but this can be prevented if we check the background of the casino before we play.

[AmoreJaz]

Many places traditional gambling is banned, so yes you can’t directly deposit through FIAT in those platforms and hence you can’t gamble there. Now in this types of situations, Bitcoins come to rescue us. Due to the decentralised nature of the coin, you get the full advantage to remain anonymous. Though gambling is banned in your country, but no one can really figure it out that you are betting with Bitcoins. Moreover sportsbook with crypto helps you to bet on different international events against various players from all around the globe. So yes these are the prominent advantages we get from a Sportsbook that accepts crypto.

just make sure they are not requiring kyc at any point of your active betting. because some casinos and bookies won't ask kyc when you deposit but upon withdrawal, they will require you to submit kyc. so always check their ToS before it is too late.
but old sites like freebitco, we all know they don't require one. and it is reputable site known to this forum. so if you do want to play anonymously without worrying about them asking your kyc, check the reputable ones first.

[livingfree]

For me, one of the pros of using a casino that accepts bitcoin is the anonymity it provides (at least casinos that do not require kyc) I can easily deposit and withdraw my winnings to my wallet without any third party knowing what I’m doing. If I was to use fiat to gamble, the bank would have a record of my deposit and can dictate where I can send my money, I don’t like that one bit.

That's one of the best things being into Bitcoin sportsbooks. We don't need to have that record coming from a third party that might be used against us in the future if it's related to finances.

Another thing, the cheaper deposits that can be done by everyone as long as you've got an amount that's required as the minimum deposit then you're good.

Not that much of a process for those transactions that should be meeting their minimum standards and requirements. You can gamble with a couple of bucks as long as it's accepted by that casino where you'll play.

[nitrobetting]

I do not know if there are actually any of the advantages that you are talking about. Most of the casinos ask for KYC details...so that destroys all pseudo anonymity that Crypto currencies supported.

People could care less about decentralization....and most casinos are not decentralized, so I doubt if that has any advantages for the gamblers. The casinos that are decentralized are scarce and a lot of them are illegal, so I do not use them. 

Nitrobetting us 100% Anonymous

No need for KYC or any other form of identity verification.

[nitrobetting]

in the past it was very good to use bitcoin to play in online casinos, despite the high transaction rate that bitcoin had in the past, but it was worth it because we had anonymity, but after KYC came in then using bitcoin how to use bank cards to playing it ends up being the same thing, maybe even using bank cards can be cheaper because in the case of bitcoin for example:

1 - the person needs to go to the bank to deposit money
2 - the person needs to do KYC on an exchange
3 - the person will pay a high fee when buying bitcoin on the exchange using the bank card
4 - the person will pay a fee to send bitcoin from the exchange to the casino (in the casino you will have to do KYC)
5 - the person will pay a fee when withdrawing money from the casino to exchange
6 - the person will pay a fee when withdrawing money from the exchange to the bank

while if that person only uses a bank account, they only need to deposit money in the bank and then put it in the casino and play and when withdrawing from the casino, take it from the casino to the bank. Of course it will have KYC and some questions that the bank will ask in case it is a high amount above the amount declared at the time of KYC made by him in the bank. anyway i like bitcoin and online casinos

Nitrobetting is 100% Anonymous

No need for KYC or any other form of identity verification.

[LUCKMCFLY]

For me, one of the pros of using a casino that accepts bitcoin is the anonymity it provides (at least casinos that do not require kyc) I can easily deposit and withdraw my winnings to my wallet without any third party knowing what I’m doing. If I was to use fiat to gamble, the bank would have a record of my deposit and can dictate where I can send my money, I don’t like that one bit.

Well, I think you said everything, I also think that things move that way, I can't see any other alternative than what you say, but one of the bad things is that if the site doesn't have LN, because if bitcoin goes up a lot , the fees will be so high that you will never want to Withdraw, because I know that these problems always happen, but if a casino that is only Bitcoin corrects this, updates and puts its system based only on LN, I think it will be the most visited many Players, since things are different this way,or unless an Internal Exchange is made.

[kamvreto]

For me, one of the pros of using a casino that accepts bitcoin is the anonymity it provides (at least casinos that do not require kyc) I can easily deposit and withdraw my winnings to my wallet without any third party knowing what I’m doing. If I was to use fiat to gamble, the bank would have a record of my deposit and can dictate where I can send my money, I don’t like that one bit.

Well, I think you said everything, I also think that things move that way, I can't see any other alternative than what you say, but one of the bad things is that if the site doesn't have LN, because if bitcoin goes up a lot , the fees will be so high that you will never want to Withdraw, because I know that these problems always happen, but if a casino that is only Bitcoin corrects this, updates and puts its system based only on LN, I think it will be the most visited many Players, since things are different this way,or unless an Internal Exchange is made.

I know what you mean, this is also related to the Bitcoin network crash a few days ago which made transaction fees very expensive for bitcoin. If the casino uses an ordinary Bitcoin network then it will be very impactful and transactions will be very expensive, of course no one wants to pay fees that are too expensive, even exceeding the bets we will make.
Using an LN network can certainly be a solution, but not all casinos implement it. there are several gambling sites that use the LN network such as Betplay. and for internal exchange, of course it requires more complex development, it could be like an instant exchange for crypto and Fiat Assets or coins from the casino itself.

[slapper]

For me, one of the pros of using a casino that accepts bitcoin is the anonymity it provides (at least casinos that do not require kyc) I can easily deposit and withdraw my winnings to my wallet without any third party knowing what I’m doing. If I was to use fiat to gamble, the bank would have a record of my deposit and can dictate where I can send my money, I don’t like that one bit.

Well, I think you said everything, I also think that things move that way, I can't see any other alternative than what you say, but one of the bad things is that if the site doesn't have LN, because if bitcoin goes up a lot , the fees will be so high that you will never want to Withdraw, because I know that these problems always happen, but if a casino that is only Bitcoin corrects this, updates and puts its system based only on LN, I think it will be the most visited many Players, since things are different this way,or unless an Internal Exchange is made.

I know what you mean, this is also related to the Bitcoin network crash a few days ago which made transaction fees very expensive for bitcoin. If the casino uses an ordinary Bitcoin network then it will be very impactful and transactions will be very expensive, of course no one wants to pay fees that are too expensive, even exceeding the bets we will make.
Using an LN network can certainly be a solution, but not all casinos implement it. there are several gambling sites that use the LN network such as Betplay. and for internal exchange, of course it requires more complex development, it could be like an instant exchange for crypto and Fiat Assets or coins from the casino itself.

High transaction costs and a long waiting time make using Bitcoin to gamble a major hassle. Although it's the dominant cryptocurrency, Bitcoin isn't perfect. You mean the Lightning Network? You made an excellent point, but not every casino will be jumping on the bandwagon any time soon. What will cause us to stomp our feet in exultation? Consider alternatives to Bitcoin. Dogecoin, Litecoin, or the sped-up Solana, among others. Curious?

The origins of Dogecoin were humorous, but now? A possible game-changer for low-value transactions because to its low costs and quick processing times. Litecoin? Overtakes Bitcoin in speed and efficiency, and then some. And with Solana, picture Bitcoin with a rocket launcher. So, why aren't more gambling establishments adopting this trend?

[len01]

just make sure they are not requiring kyc at any point of your active betting. because some casinos and bookies won't ask kyc when you deposit but upon withdrawal, they will require you to submit kyc. so always check their ToS before it is too late.
but old sites like freebitco, we all know they don't require one. and it is reputable site known to this forum. so if you do want to play anonymously without worrying about them asking your kyc, check the reputable ones first.

for experienced gamblers I'm sure they understand everything about casinos without KYC and those asking for KYC, but for novice gamblers they very rarely understand this problem so many cases of gamblers complain of being refused when withdrawing funds on the grounds that KYC was refused because it was in a prohibited country according to the provisions Casino ToS.
so it is very important for all professional and novice gamblers who want to gamble on online sites to always pay attention to the ToS in the FAQ before making a deposit or making a bet to avoid similar incidents.

[nullama]

~snip~
for experienced gamblers I'm sure they understand everything about casinos without KYC and those asking for KYC, but for novice gamblers they very rarely understand this problem so many cases of gamblers complain of being refused when withdrawing funds on the grounds that KYC was refused because it was in a prohibited country according to the provisions Casino ToS.
so it is very important for all professional and novice gamblers who want to gamble on online sites to always pay attention to the ToS in the FAQ before making a deposit or making a bet to avoid similar incidents.

Yeah, for any kind of service I always test the full deposit/withdrawal mechanism before putting a considerable amount of money in.

There are just many types of services that simply take forever to withdraw or make it extremely painful and complicated, whereas the deposits are always way faster for some reason 

[Crypt0Gore]

The decentralization of Bitcoin works only when we are in possession of the Bitcoin, some people believe that the decentralization exists in Bitcoin automatically, you are wrong, for that decentralized part to be in checked, you have to be the only one in control of your private key, that's where the real decentralization will kick-in.

Moving your Bitcoin from your wallet to any Gambling platforms,  Centralized exchanges and many others have automatically deactivate the decentralized side of Bitcoin, it's a bad practice so the earlier you know this the better..

An advice? Do not entrust your Bitcoin to any centralized platforms, businesses or companies.

[tusandii]

Bitcoin and gambling, a fantastic combo! But as you said, there are downsides, folks. Secure and decentralized, sure, but what's the point if the platform's centralized? Decentralized platforms aren't flawless either. More control, yeah, but tough to use and not-so-friendly. Less regulated too, so scams and fraud? Watch out! The answer? A hybrid! A mix of Bitcoin's security and privacy with centralized platform's ease and regulation. Can it happen? Uncertain, but I'll wager on it - in Bitcoin, naturally!

In the crypto gambling industry Bitcoin cannot be separated from gambling, but in this era I don't pay much attention to the fact that they can still be decentralized because there has been a lot of interference from outside parties such as the state government.
But I don't care about that because I think gambling is fun so whatever happens as long as it doesn't have a big impact on my finances is not a big problem.
Yes, I know that and caution must always be prioritized in the gambling industry because there are so many scam sites that exist.

Of course it can. Before crypto gambling came, there is already a Bitcoin. Then some gambling sites don't support Bitcoin. Bitcoin itself is still decentralized because it can not be totally stopped. There is also fully decentralized gambling sites here. It's important to pay attention to the government's order because you don't want to get in jail or being fined aren't you? It is still better to enjoy gambling if you have a peace of mind. Gambling is so risky.

No matter how we think we are in control of our selves, there will be a time that we can over spend but as long as we can go back in track again, it's only fine. Losing money occurs too due to scams but this can be prevented if we check the background of the casino before we play.

Yes what you say is true but to be completely honest I don't really trust a truly decentralized site.
Of course I don't want to get into trouble or even more so in fines or jail for not paying attention to government regulations but this is a crypto-based gambling industry so if the government takes it too far it will make gamblers not trust it so much because there is interference from other parties.
But this will be an agreement between the owner of the gambling site and also the government so we can only accept it and play like what was our goal at the beginning of our foray into the gambling industry.

Yes, cases of fraud are very rife in crypto-based online gambling. There are even some sites that already have a bad reputation but are still operating and carrying out promotions to get new customers that they can trick.
It is very important to be careful and do research if you want to choose a crypto gambling site to avoid some fraudulent sites.

[Altryist]

for experienced gamblers I'm sure they understand everything about casinos without KYC and those asking for KYC, but for novice gamblers they very rarely understand this problem so many cases of gamblers complain of being refused when withdrawing funds on the grounds that KYC was refused because it was in a prohibited country according to the provisions Casino ToS.
so it is very important for all professional and novice gamblers who want to gamble on online sites to always pay attention to the ToS in the FAQ before making a deposit or making a bet to avoid similar incidents.

I think that more than 90% do not read the user agreement, otherwise many would simply think a hundred times before sending their money to the casino. You may need to go through verification in order to be able to withdraw money, there will also be such items as blocking accounts at any time, to clarify any circumstances. But now there are still casinos that allow you to play and withdraw without going through the KУC, although there are fewer of them, so it’s worth reading the user agreement in any case, even if it seems boring to you.

[noormcs5]

for experienced gamblers I'm sure they understand everything about casinos without KYC and those asking for KYC, but for novice gamblers they very rarely understand this problem so many cases of gamblers complain of being refused when withdrawing funds on the grounds that KYC was refused because it was in a prohibited country according to the provisions Casino ToS.
so it is very important for all professional and novice gamblers who want to gamble on online sites to always pay attention to the ToS in the FAQ before making a deposit or making a bet to avoid similar incidents.

I think that more than 90% do not read the user agreement, otherwise many would simply think a hundred times before sending their money to the casino. You may need to go through verification in order to be able to withdraw money, there will also be such items as blocking accounts at any time, to clarify any circumstances. But now there are still casinos that allow you to play and withdraw without going through the KУC, although there are fewer of them, so it’s worth reading the user agreement in any case, even if it seems boring to you.

Well, i have a solution for those who do not want or do not have time to read the user agreement. The first thing when you are a new casino, do the KYC and then start depositing money there. This way, you will not be facing any difficultly in withdrawing your money when you win any amount in the casino.

The drawback is of course you will be doing KYC beforehand and it is not advisable to perform KYC for each and every site. We should only be doing KYC at sites which are trusted so our documents are save.

[BitcoinPanther]

Is it really necessary to spend the Bitcoins directly? You can simply just keep them and convert them to fiat later whenever you need cash, no one would know that you've got cash from withdrawing Bitcoins from a gambling platform, and you should be good that way too. Also, you will give yourself a hard time trying to find a store to spend your Bitcoins I'm sure.

Nope, the technology can trace your Bitcoin transaction as long as you used a centralized exchange since they can tract from your centralized exchange account backward to where it came from.  Unless we use a mixer, anything that pass through a centralized service can definitely be traced.

Also, I think there are some casinos that allow their gamblers to use VPN without any issues, though I never tried it myself but I think Stake allows it, I never heard anyone saying that they've got banned from Stake for using a VPN.

Stake has vague stance about using VPN.  I already asked their support about it but they just answered me with a standard reply that the use of VPN is forbidden to bypass geolocation restriction but they never affirmed that using VPN is allowed on their sites.

for experienced gamblers I'm sure they understand everything about casinos without KYC and those asking for KYC, but for novice gamblers they very rarely understand this problem so many cases of gamblers complain of being refused when withdrawing funds on the grounds that KYC was refused because it was in a prohibited country according to the provisions Casino ToS.
so it is very important for all professional and novice gamblers who want to gamble on online sites to always pay attention to the ToS in the FAQ before making a deposit or making a bet to avoid similar incidents.

I think that more than 90% do not read the user agreement, otherwise many would simply think a hundred times before sending their money to the casino. You may need to go through verification in order to be able to withdraw money, there will also be such items as blocking accounts at any time, to clarify any circumstances. But now there are still casinos that allow you to play and withdraw without going through the KУC, although there are fewer of them, so it’s worth reading the user agreement in any case, even if it seems boring to you.

Well, i have a solution for those who do not want or do not have time to read the user agreement. The first thing when you are a new casino, do the KYC and then start depositing money there. This way, you will not be facing any difficultly in withdrawing your money when you win any amount in the casino.

True that, the casino will never use the issue of KYC in halting user's withdrawal because it has been done unless the platform caught the player exploiting the reward system.  We have seen some accounts being locked or banned due to bonus exploit.

[Fivestar4everMVP]

for experienced gamblers I'm sure they understand everything about casinos without KYC and those asking for KYC, but for novice gamblers they very rarely understand this problem so many cases of gamblers complain of being refused when withdrawing funds on the grounds that KYC was refused because it was in a prohibited country according to the provisions Casino ToS.
so it is very important for all professional and novice gamblers who want to gamble on online sites to always pay attention to the ToS in the FAQ before making a deposit or making a bet to avoid similar incidents.

I think that more than 90% do not read the user agreement, otherwise many would simply think a hundred times before sending their money to the casino. You may need to go through verification in order to be able to withdraw money, there will also be such items as blocking accounts at any time, to clarify any circumstances. But now there are still casinos that allow you to play and withdraw without going through the KУC, although there are fewer of them, so it’s worth reading the user agreement in any case, even if it seems boring to you.

Well, i have a solution for those who do not want or do not have time to read the user agreement. The first thing when you are a new casino, do the KYC and then start depositing money there. This way, you will not be facing any difficultly in withdrawing your money when you win any amount in the casino.

The drawback is of course you will be doing KYC beforehand and it is not advisable to perform KYC for each and every site. We should only be doing KYC at sites which are trusted so our documents are save.

I completely agree with you on this, I have been gambling on stake for several years now, and if I must confess, I have never read their terms and conditions once, but what is the secret as to why I've never had any issues? When I registered, I first of all submitted my documents for verification, I passed the verification before depositing my first dollar there to gamble.

My advice as well to those who do not have the time to read terms of casinos is to avoid registering and gambling on random casinos, most especially New ones, find a good casino with great reputation, verify your identity and then gamble there.