Pros and Cons of Crypto vs. Traditional Gambling

[nitrobetting]

As crypto gambling’s popularity rises, traditional gambling’s popularity wanes. But before jumping into crypto gambling, it’s important to know the pros and cons of both. Below, we list three pros and three cons for traditional gambling and crypto gambling.

Traditional Gambling Pros
Familiarity
Online sports betting has been around for close to 30 years. We’re familiar with how traditional online sports betting works.

Most available sports betting options
Sportsbooks don’t allow betting on every available options. But they do allow most sports betting options.

Bets are in U.S. dollars or other fiat currency
It’s easy to bet in your nation’s currency. Traditional gambling allows us to wager in dollars if we’re a U.S. citizen or Canadian dollars if we’re Canadian.

Traditional Gambling Cons
Credit card companies may not allow you to fund your gambling account
Credit card companies are middle entities. They give you credit and then help you facilitate transactions. Because it’s the credit card company’s money, they have the right to dictate how you spend your money.

Credit card companies hate sportsbooks. Bottom line? They won’t allow you to fund your sportsbook account with their money. Also, funding with credit cards requires paying big fees, sometimes, over 10%.



Keep reading→ https://n2g.io/1f1f79d

[Sim_card]

I clicked on the link that you provided by it say that I have been blocked. Base on your article,online casinos are taking over the whole world gamblers because it is easy accessible and convenient for gambling from whatever place that you are. Also online casino makes gambler to gamble in their comfort zone without any risk of been attacked by hoodlums when gambling in a traditional casino. In a traditional casino everyone will know that you are a gambler and when you win the jackpot everybody will be aware of it which might be a threat to your privacy. It is bad to gamble with your credit card,as it is the same thing like borrowing money to gamble. This shows that you can't control your gambling activities.

[Oshosondy]

Credit card companies may not allow you to fund your gambling account
Credit card companies are middle entities. They give you credit and then help you facilitate transactions. Because it’s the credit card company’s money, they have the right to dictate how you spend your money.

Credit card companies hate sportsbooks. Bottom line? They won’t allow you to fund your sportsbook account with their money. Also, funding with credit cards requires paying big fees, sometimes, over 10%.

We use cryptocurrencies, not fiat.

This forum is more about cryptocurrencies. The gambling sites that have announcement threads on this forum are crypto gambling sites, not traditional or fiat gambling sites.

I clicked on the link that you provided by it say that I have been blocked.

Use VPN to open it, it would work. I used IP address and I got the error but it worked with VPN. I am wondering why it is blocking IP addresses.

[bittraffic]

Decentralization
Crypto gambling is decentralized, meaning it’s peer-to-peer. The sportsbook doesn’t require your personal information. The only thing a crypto gambling sportsbook requires is an email address.

Not really. When users have to create an account on the casino, it's not going to be considered Decentralized.  I think your writer had not understood well the concept of decentralization. Most of the things he wrote under the Crypto Gambling Pros can be disputed by the ones who know.


Also, Traditional Gambling AFAIK is where gamblers visit brick-and-mortar casinos. The comparison I think should be Online Fiat Base gambling pros vs Crypto Gambling Pros.

[Hispo]

This rather a topic which I recall has been discussed many times before, though I understand you want to promote your web and try to get some traffic. Next time you would like to start a topic it would be more constructive if you put a little bit more of effort on finding some talking topic interesting enough to prompt people to click on your links, etc.

Decentralization
Crypto gambling is decentralized, meaning it’s peer-to-peer. The sportsbook doesn’t require your personal information. The only thing a crypto gambling sportsbook requires is an email address.

Not really. When users have to create an account on the casino, it's not going to be considered Decentralized.  I think your writer had not understood well the concept of decentralization. Most of the things he wrote under the Crypto Gambling Pros can be disputed by the ones who know.

I think OP may have some problems and be confusing both terms, decentralization and privacy/non-KYC.
While I can agree cryptocurrency has offered many advantages to the gambling community, though we must be aware that whether we decide to go to a traditional casino or a crypto one, as soon as decide to deposit we are giving up the total control our money. There is where some of the enthusiasm for the so-called Web3 casinos and decentralized gambling platforms come from.

[Bananington]

Also, Traditional Gambling AFAIK is where gamblers visit brick-and-mortar casinos. The comparison I think should be Online Fiat Base gambling pros vs Crypto Gambling Pros.

From the traditional brick-and-mortar casinos, the advance is online fiat gambling platforms that are popular and the advance of them is crypto gambling which will take over almost totally when cryptocurrency become generally accepted. They all have their pros and cons, but because one is the advance of the other, it means that there are things and features that were not addressed that will make the latest be a preference. If they had been completely okay, there would have never been an advancement.

[swogerino]

It is easy to see why the new generation,people from 20-40 years of age will always prefer the crypto gambling compared to traditional gambling and in fact if you see the chat rooms of well reputable casinos you will see most people are young there.They are doing great in offering us the same options of betting as traditional casinos do especially in sport betting because when it comes to slot and other games the crypto casinos cannot be beaten by any traditional casino.By traditional casino I also include the likes of Pinneacle,William Hill and bet365 to name a few,these providers cannot give us the huge variety of slots that crypto casinos do,they need to improve that.Beside that no credit card needed here and even if it is used it is used to buy coins which is well allowed.

[alastantiger]

Also, Traditional Gambling AFAIK is where gamblers visit brick-and-mortar casinos. The comparison I think should be Online Fiat Base gambling pros vs Crypto Gambling Pros.

This is the correct way to put it and the OP should take note of this.
I would say on this matter is that the older generation may prefer fiat because they understand it more while the younger generations, the gen z who are tech smart would prefer crypto. Because who uses fiat anymore for stuffs like this?

Besides, I think that online casinos make more money from crypto gamblers than from the others.

[Casdinyard]

First off, stupid to even use credit card for funding your gambling needs. You're literally digging your own grave with that kind of mindset let me just tell you. Another thing, we pretty much know what the ins and outs of gambling in between these two fields is since most of us here (and I know I speak for everyone when I say this) we've already used cryptocurrency gambling, land-based casinos, and fiat casinos too so we pretty much know what the strengths and weaknesses are of these things. Lastly, your site isn't allowing us to access it for some reason. It tells us "You have been blocked" or something which I would guess is because your site is region-specific. If you want to advertise a casino this is not the best way let me tell you.

[livingfree]

That's true with the traditional gambling, credit card companies and the banks won't allow you to deposit to them if ever you're going to use your funds from there.

With crypto, it's easier. You can deposit any amount at your will and that's the easiest way to gamble. The minimum deposits are even lower than the usual limits that we're seeing from these traditional casinos.

Howbeit, there are also some traditional online casinos but majority of us prefer the crypto casinos and bookies.

[Yatsan]

Mode of payment, taxation, and accessibility are the three distinguishing factors which are obvious between traditional gambling platform and Cryptogambling platform. Taxes are the main thing I see as a pro for crypto gambling platforms; winning bigtime won't be taxed in an instant. When it comes on accessibility, this is the downside for web 3.0 wherein there are instances minors are able to play and gamble freely. Last is with mode of pyment, wherein I could say withdrawal & deposit are faster with cryptogambling sites. You could choose between the two category on where you would engage yourself with, depending on your convenience.

[Slow death]

it doesn't make much sense that people use credit cards to play in casinos, be it physical casino or online casino, I've read somewhere that many governments have criticized people who keep spending money from their credit cards with games of chance and the banks that allow this have already been the target of many criticisms from governments, because they no longer like their customers to do this type of thing, but what I keep asking myself is why you've been creating so many threads with this same subject being that it's very obvious for anyone the difference and advantage and disadvantage of fiduciary casinos with cryptocurrency casinos

It's a very wrong way that you found to publicize your casino, you could use other means that could be more efficient than the one you're using, but in the end you better than anyone know what you're doing, I just hope they don't look at you as someone who is spamming the forum, because without a doubt that it wouldn't be something good for you and your casino. By the way, I saw some members complaining about your site, saying they can't access it, in my case I didn't have any problems with accessing the site

[Don Pedro Dinero]

Mode of payment, taxation, and accessibility are the three distinguishing factors which are obvious between traditional gambling platform and Cryptogambling platform. Taxes are the main thing I see as a pro for crypto gambling platforms; winning bigtime won't be taxed in an instant.

I would say that non-KYC was what made the crypto gambling industry more attractive from the beginning, which is becoming less and less common, but even people who send KYC documents to crypto casinos, as they usually have Curaçao licenses, can not declare the winnings in their country if they don't want to, as the tax authorities won't find out.

Being able to gamble without government control is its main attraction.

[Silberman]

Traditional Gambling Cons
Credit card companies may not allow you to fund your gambling account
Credit card companies are middle entities. They give you credit and then help you facilitate transactions. Because it’s the credit card company’s money, they have the right to dictate how you spend your money.

I do not see this as a con, if someone wants to gamble that is OK in my book but they need to do it with their own money, the moment they begin to borrow money in order to keep gambling then that is the moment things can get out of control, so a bank prohibiting its users from using the funds available on their credit cards is also OK in my book, as the lender should be able to choose in which cases they are willing to give a loan and when they prefer to not do so.

[maydna]

Crypto and traditional gambling are distinctly different, and each has advantages and disadvantages. But we are here on a crypto forum and don't use fiat, so the pros and cons of the two are different. I don't know if Sportsbooks hate credit or debit cards because I never use them, let alone deposit money from my bank account. I only use crypto for gambling and nothing else.

But if the credit card company doesn't allow you to use a credit card to play gambling, you can use your bank account to deposit the money. But you have to be prepared if the bank asks about the status of your suspected transaction.

[ralle14]

The second con of traditional gambling also applies to crypto gambling if you look hard enough you'll see some of them that would offer almost the same bonuses that have these high rollovers.

One of the crypto gambling cons specifically the "no fees" part isn't always true, only a handful of crypto casinos would let you withdraw for free and the rest would require you to pay at least a few dollars.

Use VPN to open it, it would work. I used IP address and I got the error but it worked with VPN. I am wondering why it is blocking IP addresses.

They mentioned it was for security when tried to ask a similar question to their support team.

[_act_]

But if the credit card company doesn't allow you to use a credit card to play gambling, you can use your bank account to deposit the money. But you have to be prepared if the bank asks about the status of your suspected transaction.

You can easily use bank transfer to transfer money to your gambling account, but those are local gambling sites. If it is foreign, it is possible that bank transfer may not be available. On the foreign gambling sites that I have used before, I used mastercard for deposit which is only the option, but wire transfer for withdraw which is the only option that people from my country have.

[internetional]

Credit card companies hate sportsbooks.

Why do they?

I understand why traitional financial organizations could hate crypto currency services. (Cryptocurrency is their competitor.) So credit card providers sometimes don’t allow using their cards in the services like Binance. But what’s the issue between credit card providers and betting services?

[makishart]

Traditional Gambling Cons
Credit card companies may not allow you to fund your gambling account
Credit card companies are middle entities. They give you credit and then help you facilitate transactions. Because it’s the credit card company’s money, they have the right to dictate how you spend your money.

Credit card companies hate sportsbooks. Bottom line? They won’t allow you to fund your sportsbook account with their money. Also, funding with credit cards requires paying big fees, sometimes, over 10%.



Keep reading→ https://n2g.io/1f1f79d

It has been 14 years since the first crypto being created by the owner from this forum. It sounds no sense you compare the popularity of fiat to the crypto in the gambling companies. Slowly but surely people gonna have more interest in using crypto instead of fiat. It's also very easy to convert crypto to the fiat as well.

Who the fuck is stupid enough using credit card for gambling purpose? You forget that if you shall also pay interest from using your credit card. It's not only fees.

[Davidvictorson]

As crypto gambling’s popularity rises, traditional gambling’s popularity wanes. But before jumping into crypto gambling, it’s important to know the pros and cons of both. Below, we list three pros and three cons for traditional gambling and crypto gambling.

Traditional Gambling Pros
Familiarity
Online sports betting has been around for close to 30 years. We’re familiar with how traditional online sports betting works.

Most available sports betting options
Sportsbooks don’t allow betting on every available options. But they do allow most sports betting options.

Bets are in U.S. dollars or other fiat currency
It’s easy to bet in your nation’s currency. Traditional gambling allows us to wager in dollars if we’re a U.S. citizen or Canadian dollars if we’re Canadian.

In my country, you can only use fiat for betting at a local sports book be it offline or online. There are no options for cryptocurrencies. No local sports book would even try have a crypto option as most young people who occupy their customer based either do not have cryptocurrencies or would rather hold their cryptocurrency that stake it. Only a hand few would be willing to take that risk.

As per your cons, we don't use credit cards over here only debit cards. And one can do debt-gambling expect the person is gambling with other people's money.