The Rise of Crypto Gambling: What You Need to Know

[arwin100]

Crypto gambling or web 3.0

Crypto gambling is huge but it seems to me web3.0 is just a solution looking for a problem which don't exist. We already have everything on the web and we can do everything. (gambling too is possible) So I don't understand how web3.0 will bring to the table something new.

Probably same in function but different in the concept.
Crypto gambling is indeed growing though I have to disagree that it offers a faster deposit and withdrawal since some site have their own timeline for the withdrawal due to the fact of counter checking and its not a direct withdrawal from the explorer. If you want a faster transactions then read every details in ToS and know this one.

A crypto site that offers faster withdraw are prefer by many but I agree, not all site have this.
Every site have their own Terms of service and a pros and cons, you should understand it and know if it can work with you. Crypto gambling site offers more flexibility compare to a fiat casino online and I prefer to gamble more using crypto, you just have to choose the best site available in the market.

The main things on why crypto gambling is becoming more popular and more in demand because of these things;

1. Anonymity
2. Ease of deposit/withdrawal options
3. Lots of variety of games

Im not saying that Fiat casinos doesnt have these things but nothing beats out even with that instant withdrawal thing on which you cant really be able to
have on a fiat casino in most time specially if its really that withdrawn directly into your bank which it would be taking up some days.Unlike that we do have on crypto
that it would really be instant. The only cons i do see on this is on the time that the company or owner would be tending to ran their users funds
then there's no chance for it to be getting it back due to that anonymity thing which it is really that also one of the cons specially if the casino
isnt that regulated but well its a matter of personal choice in the end of the day.

Anonymity is not the main case now since casinos are now requiring Kyc to their user so I guess this is not ideal anymore for people who want to be anonymous.

For ease deposit and withdrawal maybe there are some factors that user like this on crypto casino but sometimes there's issue of network congestion so I think this is also less concern with the users.

Physical casino also has a lot of games and I think what online casino have is also present om physical casino.

So what I really think the main concern of people regarding on crypto gambling is the accessibility since they can have fun wherever they go since online casino is present everywhere and they could just go online then play when they like to do it.

[dothebeats]

I'm not quite sure about our information being more secure in crypto casinos. There's tons of leaks and data breaches happening daily, and some of them include crypto casino accounts, personal information, etc. I guess, what crypto gambling really brought forth to the table is its ease of access and overall ease of registration and getting KYC-accepted. Apart from that, I don't see anything that crucial which separates fiat online casinos from crypto casinos, at least at this point in time.

[noormcs5]

For ease deposit and withdrawal maybe there are some factors that user like this on crypto casino but sometimes there's issue of network congestion so I think this is also less concern with the users.

I never faced any issue of network congestion. Deposits and withdrawals are never delayed on blockchain network congestion but it is more often delayed by the casino if they are processed manually.

So what I really think the main concern of people regarding on crypto gambling is the accessibility since they can have fun wherever they go since online casino is present everywhere and they could just go online then play when they like to do it.

The easy access has made online gambling very popular and at the same time, crypto has helped a lot in getting the ease of deposits/withdrawal in the casino. The use of credit cards is more expensive and risk is also involved as the site can keep your credit card information, but by using cryptocurrencies one can deposit in an online casino without any hassle.

[Webetcoins]

As regulations are becoming a matter of concern for cryptocurrency users, most sportsbooks and casino platforms require users to complete KYC verification which involves all the basic and personal details of a person including their full name, country of residence, city, address, phone number, etc. So technically, the anonymity is not an advantage of a cryptocurrency sportsbook anymore but they are just like traditional casinos now.

But, there are different options and features that make them better and different from traditional sportsbooks, just like transaction speeds and convenience of depositing and withdrawing, people used to wait for days with traditional sportsbooks for their transactions to get confirmed.

[Jawhead999]

I'm not quite sure about our information being more secure in crypto casinos. There's tons of leaks and data breaches happening daily, and some of them include crypto casino accounts, personal information, etc.

You have any proof about this? AFAIK I haven't see there's a data breach from crypto casino in this forum, the data breach mostly come from the centralized exchange and hardware wallet. I'm not saying crypto casino has better security among other projects, but I just never heard about it.

I never faced any issue of network congestion. Deposits and withdrawals are never delayed on blockchain network congestion but it is more often delayed by the casino if they are processed manually.

If he's use low priority, surely his transaction will delayed or might stuck in lambo for 2 weeks. But we have a solution to use other chain where the fee is cheap and fast due to low volume.

[ethereumhunter]

Since the last pandemic, crypto casinos have gained so much popularity that they are better known by gamblers who usually play in physical casinos. Starting from there, people know that using crypto to gamble is safer than using fiat because they don't need to fill in various required data before starting to play gambling. At crypto casinos, they only need to register using their email and password, and start depositing the coins they want, in this case, bitcoins or altcoins, to start gambling.

But gradually, the popularity of crypto casinos caught the attention of regulators in crypto casinos, so they asked the casinos to perform KYC on the gamblers. Regulators want to know who is gambling in their country, especially those who use big money. And now, crypto casinos are trying to continue that by asking their users to do KYC. This is a new problem for crypto users who often gamble because they can no longer be free to play gambling. And even though the casino already allows users not to register but only to connect their wallet to the casino site, later on, casino users can be asked to do KYC.

[btc_angela]

Since the last pandemic, crypto casinos have gained so much popularity that they are better known by gamblers who usually play in physical casinos. Starting from there, people know that using crypto to gamble is safer than using fiat because they don't need to fill in various required data before starting to play gambling. At crypto casinos, they only need to register using their email and password, and start depositing the coins they want, in this case, bitcoins or altcoins, to start gambling.

But gradually, the popularity of crypto casinos caught the attention of regulators in crypto casinos, so they asked the casinos to perform KYC on the gamblers. Regulators want to know who is gambling in their country, especially those who use big money. And now, crypto casinos are trying to continue that by asking their users to do KYC. This is a new problem for crypto users who often gamble because they can no longer be free to play gambling. And even though the casino already allows users not to register but only to connect their wallet to the casino site, later on, casino users can be asked to do KYC.

I think crypto based casinos are already popular even before the pandemic. It's that it was highlighted during that time as we don't have our land based casinos as obviously it is closed. They try to open their own version of online casinos though, but crypto based has taken the reign that time and it grows over the next 2 years as there are casinos popping up and then the competition.

So for the whole KYC and other mandated by regulators, its has been there since 2017, after the bull run. It's just that the pandemic really put the spotlight on us and so we have to comply.

[Kakmakr]

The things.... most casinos implement KYC verification at some time, so your pseudo-anonymity are short lived. Just look at Freebitco.in and their latest announcement that they now require verification of their accounts.    (This is one of the oldest Crypto casinos in the industry and they now bend the knee before the regulators)

Also.... most people use Crypto exchanges and these exchanges require full verification... so they destroy all pseudo-anonymity that you have with Crypto currencies. 

[piebeyb]

The things.... most casinos implement KYC verification at some time, so your pseudo-anonymity are short lived. Just look at Freebitco.in and their latest announcement that they now require verification of their accounts.    (This is one of the oldest Crypto casinos in the industry and they now bend the knee before the regulators)

Also.... most people use Crypto exchanges and these exchanges require full verification... so they destroy all pseudo-anonymity that you have with Crypto currencies. 

All anonymous dealing will always be synonymous with money laundering and also fraudulent users, I also see that freebitcoin has this new rule that allows them to also want to avoid users trying to cheat them that's why I support that, don't care about being anonymous from our crypto currency, after all we are all aware that KYC verification is also necessary for something that actually prevents crime as well as abuse.

Anyone can avoid and stay anonymous but back again on the safety side it will be hard to get attention when we are anonymous and having problems then finally seeking public attention too to get help for our problems it even looks funny, we are not talking about anonymous but this is all for the sake of goodness of all by doing KYC verification. even if we don't like it let it be.

[CryptSafe]

The things.... most casinos implement KYC verification at some time, so your pseudo-anonymity are short lived. Just look at Freebitco.in and their latest announcement that they now require verification of their accounts.    (This is one of the oldest Crypto casinos in the industry and they now bend the knee before the regulators)

Also.... most people use Crypto exchanges and these exchanges require full verification... so they destroy all pseudo-anonymity that you have with Crypto currencies. 

At first when they launch, they say kyc free to get traffic to their casino and many gamblers flood their casino to get registered with them and they make huge record of traffic flow coupled with huge revenue generation at then they hide their license and tell the masses that they are decentralized with all form of sincerity and truly they are but as time goes on when they have started gaining the desired reputation and everything perfectly working well as according to their plans, they start or update their policies from kyc free to compulsory kyc before withdrawal. This is how it goes and keep repeating itself with other new casinos. So no need for  pseudo-anonymity when ever you want to register with a casino or an exchange. Always have it in mind that even if the casino or exchange tells you to register without kyc, in the long run they would definitely tell you to do your kyc when they have fully reach their target. That is the current trend now I noticed.

[QueenVera]

The sports betting and gaming industries constantly evolve. The next evolution has been the advent of blockchain and cryptocurrency technologies. Bitcoin sportsbooks have become the newest thing in the industry. And for good reason. A crypto sportsbook provides advantages that traditional books can’t. If you’re new to crypto gambling, or require a refresher, keep reading to discover the top five things you must know about crypto sportsbooks.

What You Need to Know About Crypto Gambling

Bitcoin has become a store of value

For many, bitcoin remains something to be feared or disregarded. But that’s changing and it’s changing quickly.

It already has changed when it comes to the way the largest banks in the world view BTC. Goldman Sachs, JP Morgan Chase, and Morgan Stanley offer their clients bitcoin investment strategies.

Cryptocurrency investors see BTC as digital gold. Bitcoin is the base for their crypto investment strategies. The bottom line? Cryptocurrencies, and especially Bitcoin, isn’t going anywhere.

Your information is more secure

For our purposes, this is the most significant thing to know about crypto gambling. It is much more secure than playing in a traditional sportsbook.

Traditional sportsbooks have your address, your phone number, your email address, and more info about you. Some sportsbooks sell your information to list creators. Those list creators sell the info to tout services that call you to get you on board with their plans.

You can deposit and make withdrawals faster

Crypto deposits and withdrawals happen much faster than in traditional sportsbooks or online gaming sites. The reason is due to cryptocurrencies’ peer-to-peer philosophy.

A middle entity, like Coinbase or Cash App facilitates the transfer of your BTC or other crypto to your sportsbook account. But those entities are just facilitators.

They aren’t involved the way your credit card company is involved. This speeds up the entire deposit and withdrawal process.

Read more→ https://n2g.io/3e8d2b4

Change they say is Constant and since the world is evolving rapidly everything in our world is adapting to it's change including the gambling sector as well, before gambling was done amongst individuals on the street where they wager their valuable items in predicting the winners of card or board games, then came the introduction of casinos and bet shop but currently technology have made it evolved into online casinos and sports betting where people can easily predict games from the comfort of their homes, with just a good device and an internet connection.
 And since money plays a role in gambling and cryptocurrency is the new evolution of money, it have been introduced into gambling as a means of making deposits and withdrawal option, thereby making it easy and faster to deposit and transfer funds into an online gambling  accounts, also the online crypto casino have been introduced as well where people make predictions with different cryptocurrencies of their choice, though it's not fully adopted by everyone but gradually, in the near future a good number of people would adapt to the use of online crypto casino's for gambling.

[Rabata]

The things.... most casinos implement KYC verification at some time, so your pseudo-anonymity are short lived. Just look at Freebitco.in and their latest announcement that they now require verification of their accounts.    (This is one of the oldest Crypto casinos in the industry and they now bend the knee before the regulators)

Also.... most people use Crypto exchanges and these exchanges require full verification... so they destroy all pseudo-anonymity that you have with Crypto currencies. 

Always have it in mind that even if the casino or exchange tells you to register without kyc, in the long run they would definitely tell you to do your kyc when they have fully reach their target. That is the current trend now I noticed.

In every casino business it is certain that casino authorities want to know about their customers. However, there are many casino sites that do not require KYC from gamblers. But if any of those gamblers ever win a big amount or get a jackpot then the casino authority must ask for their KYC because there are some policies from the government against the big winnings so in some causes kyc of the gambler is needed. If Casino authority doesn't take the KYC from the gamblers then the authority has to bear the responsibility.

[danherbias07]

It's the now and the future of gambling.
Cryptocurrencies + gambling either casino or sports betting is equal to having a gambler who would just need to sit tight in front of the computer and relax all day.
Security? It's given by using Bitcoin as the main currency to bet. I guess it's just on the gambling site's part if they are reputable enough to trust our money to deposit in it.
Today, it's still growing, I can see many online players in my favorite casino and sports bookie. Just yesterday when an error happened, it's like chaos in the chatbox with all the mad players wanting to play continuously and doesn't want to be interrupted. I think in more decade a great advancement will happen and Bitcoin will still be part of it.

[ethereumhunter]

I think crypto based casinos are already popular even before the pandemic. It's that it was highlighted during that time as we don't have our land based casinos as obviously it is closed. They try to open their own version of online casinos though, but crypto based has taken the reign that time and it grows over the next 2 years as there are casinos popping up and then the competition.

So for the whole KYC and other mandated by regulators, its has been there since 2017, after the bull run. It's just that the pandemic really put the spotlight on us and so we have to comply.

It may be popular in some countries, especially for countries allowing citizens to use crypto. But for other countries, they haven't allowed it. And when the pandemic hit, when almost all countries implemented a lockdown for all their citizens, local gamblers who couldn't visit physical casinos looked for replacements through websites and social media. Finally, they saw a crypto casino site where it didn't take them long to understand how the process works.

After the 2017 bull run, the popularity of crypto casinos increased and peaked in the year the pandemic started to hit many countries. And that's what makes crypto casinos even more popular now.

[Bushdark]

The things.... most casinos implement KYC verification at some time, so your pseudo-anonymity are short lived. Just look at Freebitco.in and their latest announcement that they now require verification of their accounts.    (This is one of the oldest Crypto casinos in the industry and they now bend the knee before the regulators)

Also.... most people use Crypto exchanges and these exchanges require full verification... so they destroy all pseudo-anonymity that you have with Crypto currencies. 

At first when they launch, they say kyc free to get traffic to their casino and many gamblers flood their casino to get registered with them and they make huge record of traffic flow coupled with huge revenue generation at then they hide their license and tell the masses that they are decentralized with all form of sincerity and truly they are but as time goes on when they have started gaining the desired reputation and everything perfectly working well as according to their plans, they start or update their policies from kyc free to compulsory kyc before withdrawal. This is how it goes and keep repeating itself with other new casinos. So no need for  pseudo-anonymity when ever you want to register with a casino or an exchange. Always have it in mind that even if the casino or exchange tells you to register without kyc, in the long run they would definitely tell you to do your kyc when they have fully reach their target. That is the current trend now I noticed.

There are many ways casino had been gaining traffic to there casinos mostly especially when they are just new in the gambling industry. They will make different promises that there casinos are KYC free with big bonus for gamblers.

Sometimes when they keep gaining consistent profits from the customers which are the players and gamblers, there casinos' terms and conditions will be amended limiting some kind of benefits that gamblers would enjoy from using the casinos since they know that they have large numbers of customers using there service everyday making them more confident that if they alter any of there terms even with a little strictness, gamblers are still going to use there service and bet on there platform.

 This is a tricky strategy that many companies donuse to gain the heart of there customers establishing a bonus and simple medium that will make more people to use there product without bordering on later changes. If we keep using a casino that was giving us what we want and we don't get those benefits we use to get from the casino, we can easily leave it and look for a more better one that will suit our need and the kind of services or games we are looking for with ease.

[Mr. Magkaisa]

I'm not quite sure about our information being more secure in crypto casinos. There's tons of leaks and data breaches happening daily, and some of them include crypto casino accounts, personal information, etc. I guess, what crypto gambling really brought forth to the table is its ease of access and overall ease of registration and getting KYC-accepted. Apart from that, I don't see anything that crucial which separates fiat online casinos from crypto casinos, at least at this point in time.

     -   I only gamble once in a while, I only gamble about thrice a month, but even so, I haven't faced any problem with gambling during the times that I have time to gamble.

Even when withdrawing what I won from the casino in the withdrawal transaction, I didn't have any problems, maybe the longest time I waited was around 10hrs but it still arrived at the wallet destination I put.

[piebeyb]

I'm not quite sure about our information being more secure in crypto casinos. There's tons of leaks and data breaches happening daily, and some of them include crypto casino accounts, personal information, etc. I guess, what crypto gambling really brought forth to the table is its ease of access and overall ease of registration and getting KYC-accepted. Apart from that, I don't see anything that crucial which separates fiat online casinos from crypto casinos, at least at this point in time.

     -   I only gamble once in a while, I only gamble about thrice a month, but even so, I haven't faced any problem with gambling during the times that I have time to gamble.

Even when withdrawing what I won from the casino in the withdrawal transaction, I didn't have any problems, maybe the longest time I waited was around 10hrs but it still arrived at the wallet destination I put.

I think it's good if you are able to control yourself playing at the time you specify and have a little time to gamble, unlike others where people who are not controlled always play gambling spending money and time looking for victory especially playing at crypto casinos, I also do the same thing where I control myself to gamble when I want, so I know when to gamble and when to stop.

So far, reputable and large crypto casinos always provide withdrawal and even deposit processing services automatically and quickly, although occasionally you will find manual withdrawals usually take time to prevent fraud and money laundering so it is necessary to check user withdrawals. usually takes a few hours as you said

[Fivestar4everMVP]

In terms of privacy and information sharing, with the current development we are right now where majorly every online crypto gambling casinos are beginning to make kyc verification mandatory, i would say that traditional and online crypto casinos are almost the same thing, since through the kyc, they can now own customers details like address, phone number, document identification numbers, picture and so on, and the bad eggs amongst this casinos might also decide to sell this information to third parties if they so wish.

The one major advantage of online crypto casinos that will forever remain most significant is in the area of deposit and withdrawals, crypto deposits and withdrawals to and from online gambling casinos will always be faster than that of traditional casinos.

[tusandii]

In terms of privacy and information sharing, with the current development we are right now where majorly every online crypto gambling casinos are beginning to make kyc verification mandatory, i would say that traditional and online crypto casinos are almost the same thing, since through the kyc, they can now own customers details like address, phone number, document identification numbers, picture and so on, and the bad eggs amongst this casinos might also decide to sell this information to third parties if they so wish.

The one major advantage of online crypto casinos that will forever remain most significant is in the area of deposit and withdrawals, crypto deposits and withdrawals to and from online gambling casinos will always be faster than that of traditional casinos.

All of this is done for the sake of maintaining the security of the casino and also the gamblers themselves so that when a problem occurs the casino can solve it faster and better.
In the future, believe that all gambling industries will definitely implement KYC for all their customers and for now there are already several casinos that have implemented KYC even though they previously stated that they operate non-KYC.
If we are still unsure and afraid it is better to use a casino that really has a good reputation and is trusted to avoid unwanted actions such as leaking our data information or selling data on the black market.

In addition to the advantages of faster deposits and withdrawals, in crypto casinos we can also be calm when we win big because no one else will know about it.

[maydna]

In terms of privacy and information sharing, with the current development we are right now where majorly every online crypto gambling casinos are beginning to make kyc verification mandatory, i would say that traditional and online crypto casinos are almost the same thing, since through the kyc, they can now own customers details like address, phone number, document identification numbers, picture and so on, and the bad eggs amongst this casinos might also decide to sell this information to third parties if they so wish.

The one major advantage of online crypto casinos that will forever remain most significant is in the area of deposit and withdrawals, crypto deposits and withdrawals to and from online gambling casinos will always be faster than that of traditional casinos.

It is no different today, and this is a limitation that crypto gamblers have to accept in playing gambling in crypto casinos. Crypto gamblers have now begun to be asked to do KYC by many casinos, although some still have not implemented it strictly. Hopefully, the documents submitted by the members can be properly guarded by these casinos and not hacked by hackers.

Another advantage is that we can play gambling at any casino without anyone knowing, especially if we don't tell our gambling activities to other people.