Pros and Cons of Crypto vs. Traditional Gambling

[Razmirraz]

Have you ever thought that the presence of Cryptocurrency has made it easier for anyone, wherever and whenever people want to use it. Cryptocurrencies can be accepted on gambling sites that make it easier for you to bet on the site you use, there is not the slightest complexity in fulfilling your desire to gamble. Traditional gambling is out of date, you can get all the conveniences on gambling sites like the Sportsbook without the slightest problem.

The most reasonable reason why credit card companies hate sportsbooks is because of business competition. Credit card companies don't want to take the risk of funding someone's account without any guarantee. With Cryptocurrency you can easily carry out activities including gambling, the popularity of traditional gambling will decrease and people will prefer something new that offers all the conveniences.

[Oshosondy]

Both casinos have to adopt or else they will be left behind, crypto casinos can't still operate without a fiat back up since many gamblers still prefer a more secured way to protect their money against volatility.

As long as people are using fiat, there will always be fiat casinos. As long as people are using crypto, there will always be crypto casinos. There is no one among the two (fiat and crypto gambling sites) that gamblers will leave behind since there are many fiat and crypto casinos that are providimg what gamblers want.

Same thing with the fiat casinos since the trend is with crypto right now, if they will not adopt for sure gamblers will leave them and that can hurt their business. Both market have their own pros and cons, just choose what's best for you.

The trend is in crypto, but there are still far more fiat gambling sites.

The most reasonable reason why credit card companies hate sportsbooks is because of business competition. Credit card companies don't want to take the risk of funding someone's account without any guarantee.

Who are the credit cards company competing with? Is it the gambling site? The more they work together, the better the gain for the credit card company. I do not see any competition between them.

[ChiBitCTy]

 When I first starting betting sports, I had a good buddy who I grew up with, having gone to both high school and college with, who decided to become a bookie.  So I used him to do my sports betting for a two-three years or so, then he stopped.  So for a while I wasn't placing any sports bets online as you really didn't have any options that weren't offshore casinos that would send shady looking checks from some tropical island bank.  Crytpo completely changed that game.  Now being able to deposit and withdraw via bitcoin, rather than waiting weeks or months to receive some shady looking check, now it's typically a 1-2 payout. 

[Cling18]

Both casinos have to adopt or else they will be left behind, crypto casinos can't still operate without a fiat back up since many gamblers still prefer a more secured way to protect their money against volatility.

As long as people are using fiat, there will always be fiat casinos. As long as people are using crypto, there will always be crypto casinos. There is no one among the two (fiat and crypto gambling sites) that gamblers will leave behind since there are many fiat and crypto casinos that are providimg what gamblers want.

Same thing with the fiat casinos since the trend is with crypto right now, if they will not adopt for sure gamblers will leave them and that can hurt their business. Both market have their own pros and cons, just choose what's best for you.

The trend is in crypto, but there are still far more fiat gambling sites.

The most reasonable reason why credit card companies hate sportsbooks is because of business competition. Credit card companies don't want to take the risk of funding someone's account without any guarantee.

Who are the credit cards company competing with? Is it the gambling site? The more they work together, the better the gain for the credit card company. I do not see any competition between them.

People have different preferences when it comes to gambling. Some of us prefer to use crypto because of the convenience and anonimity that we couldn't experience when using fiat while others prefer fiat because they're more comfortable using it.
When it comes to transactions and withdrawal, I think crypto is much easier to use since the transaction is instant and real time where there wouldn't be questions from banks. Payout is the usual problem when using fiat especially if we're doing a traditional gambling. However, if we're doing it for a long time, I don't think there would still be a problem especially if we know how to deal with the risks and the struggles of the deposit and withdrawal process.

[so98nn]

I am not 100% sure but isn’t it is allowed to find your online gambling casinos with credit and debit card already? I mean this option is literally available on almost every popular gambling casino available out here on the forum. I am talking about most of the popular once. This makes me think Credit cards doesn’t need to ban the traditional gambling casinos too. It has got nothing to do with traditional or modern. There might be blacklist for this purpose depending on various factors. Crypto casinos definitely offer wide range of payments and with ever growing easy payment set ups this is another time we seeing ease of making payments. Things are now international and way easier.

[dezoel]

Crypto is also betting in "USD". Most crypto-casino are using instantly convert the balance into (USD) after we deposit with the rate at the time you deposit, it's to avoid volatility crypto (that's why). Also now, most of casino already can support other fiat currency converted example like (Stake) they support many local currency you can using for the main balance betting.

Both casinos have to adopt or else they will be left behind, crypto casinos can't still operate without a fiat back up since many gamblers still prefer a more secured way to protect their money against volatility. Same thing with the fiat casinos since the trend is with crypto right now, if they will not adopt for sure gamblers will leave them and that can hurt their business. Both market have their own pros and cons, just choose what's best for you.

What do you mean by many gamblers wanting a more secure way to protect their money against volatility and that a crypto casino can't operate without a fiat backup? Why would a crypto casino need any fiat backup in the first place? They provide a lot of deposit options for their gamblers to choose from, and it's up to the gambler which coins they would like to use for their gambling activities, so I don't see how a casino will be responsible for any volatility happening in the market regarding that coin.

If you choose to use Bitcoin for gambling, and deposit and gamble with Bitcoin, and if the price of Bitcoin falls during your gambling, the casino is in no way responsible for whatever value your coin has dropped, they will give you the same amount of Bitcoin that you have in your account and that's it, it's totally on you since you are the one who chose to use Bitcoin instead of a stablecoin for gambling.

[Silberman]

This might differs from your country of residence unlike our country there are free access to fund with your card or possible make some direct transfer using our local currency to the gambling site without any delay it quickly reflects to your balance on the gambling site. The decision are being made by bettor to either fund their account or not there is no restrictions to funds one's account unlike the traditional gambling site where one often go with fiat and they sets some restriction on the whether it's your decision to gamble with such amount to avoid accusation and theft from the betting shops.

So it really differs from country to country. Although the last time I tried funding an online gambling account was more than 5 years ago, it was denied and I also inquired other banks but to no avail. I came from a very open country yet I doubt there is a change of stance from the bank's perspective. Thanks to casinos and sports betting sites that are now allowing cryptocurrencies to be used as regular currencies. Crypto betting sites are very friendly to me and my countrymen that bet regularly.

Since many local banks are owned by giant banks which have a presence in almost all countries of the world then I would suppose policies like not allowing a person to make a deposit to their gambling account using a credit card are pretty much everywhere, and to me it makes sense, if a bank allowed you to buy a TV on credit, at least there is a physical good which can repay part of the debt in which you incurred, while this is not true in the case you gamble and lose that money away.

[ethereumhunter]

I am not 100% sure but isn’t it is allowed to find your online gambling casinos with credit and debit card already? I mean this option is literally available on almost every popular gambling casino available out here on the forum. I am talking about most of the popular once. This makes me think Credit cards doesn’t need to ban the traditional gambling casinos too. It has got nothing to do with traditional or modern. There might be blacklist for this purpose depending on various factors. Crypto casinos definitely offer wide range of payments and with ever growing easy payment set ups this is another time we seeing ease of making payments. Things are now international and way easier.

If we look at the development of the gambling industry, today's young people might prefer casinos that can provide convenience rather than make themselves difficult. In this case, people will probably choose online casinos over traditional ones because they can deposit their money through many payment methods. Especially now that many crypto casinos also make it easy for them so that people can also use crypto casinos where they don't need to use credit and debit cards to avoid investigations from the bank regarding the use of money in their account.

[Gozie51]

If you choose to use Bitcoin for gambling, and deposit and gamble with Bitcoin, and if the price of Bitcoin falls during your gambling, the casino is in no way responsible for whatever value your coin has dropped, they will give you the same amount of Bitcoin that you have in your account and that's it, it's totally on you since you are the one who chose to use Bitcoin instead of a stablecoin for gambling.

That is right the volatility of bitcoin or any other crypto is not the concern of casino. At payment, they will pay according to current rate of price of bitcoin and also when you are about to deposit to the casino, the same measure of current price rate is used. So it may favour the gambler or at his disadvantage it depends. Therefore it is the choice of the gambler to choose from the range of crypto coins available on the casino. To avoid all those volatility differences, it is better if the gambler play with stablecoin.

[piebeyb]

I am not 100% sure but isn’t it is allowed to find your online gambling casinos with credit and debit card already? I mean this option is literally available on almost every popular gambling casino available out here on the forum. I am talking about most of the popular once. This makes me think Credit cards doesn’t need to ban the traditional gambling casinos too. It has got nothing to do with traditional or modern. There might be blacklist for this purpose depending on various factors. Crypto casinos definitely offer wide range of payments and with ever growing easy payment set ups this is another time we seeing ease of making payments. Things are now international and way easier.

If we look at the development of the gambling industry, today's young people might prefer casinos that can provide convenience rather than make themselves difficult. In this case, people will probably choose online casinos over traditional ones because they can deposit their money through many payment methods. Especially now that many crypto casinos also make it easy for them so that people can also use crypto casinos where they don't need to use credit and debit cards to avoid investigations from the bank regarding the use of money in their account.

Yes, you are right and that is what is currently developing because with today's technology all casino gambling can be accessed and used using cellphones, that is why I prefer to use crypto instead of using bank accounts or debit cards to avoid unnecessary questions from the bank conducting investigations on my account, using crypto is much easier than using a bank account.

Many of the traditional gambling casinos that I have seen are starting to be abandoned by their users, most of them are more fun using their cellphones to gamble anytime and anywhere, the easier it is to gamble, the more popular it will be because technology is developing quite at this time and young people also prefer to gamble using their cellphones.

[passwordnow]

Since many local banks are owned by giant banks which have a presence in almost all countries of the world then I would suppose policies like not allowing a person to make a deposit to their gambling account using a credit card are pretty much everywhere, and to me it makes sense, if a bank allowed you to buy a TV on credit, at least there is a physical good which can repay part of the debt in which you incurred, while this is not true in the case you gamble and lose that money away.

My take on this is that, they're allowing to purchase digital products with the use of credit card. And that's why if a customer tries to use his CC to get his gambling account funded, they should allow it. But I do also understand that the banks don't want someone with a gambling behavior and activities spend money in credit because it might also affect their credit score and as well as their payment behavior. Sometimes, that's also understandable when they're trying to be strict with their policies since it is their money that's being spent or should I say, other depositor's money.

[tusandii]

-snip-

If we look at the development of the gambling industry, today's young people might prefer casinos that can provide convenience rather than make themselves difficult. In this case, people will probably choose online casinos over traditional ones because they can deposit their money through many payment methods. Especially now that many crypto casinos also make it easy for them so that people can also use crypto casinos where they don't need to use credit and debit cards to avoid investigations from the bank regarding the use of money in their account.

From the development of crypto casinos, which are increasing very rapidly, we can see that people are very enthusiastic about crypto casinos, in fact, every day there are always novice gamblers who are starting to enter the crypto gambling industry.
Even so, traditional casinos are still widely enjoyed by some gamblers, but over time traditional casinos will be left behind and maybe traditional casino owners will also develop their casino business to become online and based on crypto.
If today's traditional casino owners don't try to develop online casinos, maybe they will lose their place and their income will definitely experience a pretty drastic decline.

[Shinpako09]

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.

what op did was like hitting two birds with one stone. Generating a thread while promoting his site

If we look at the development of the gambling industry, today's young people might prefer casinos that can provide convenience rather than make themselves difficult. In this case, people will probably choose online casinos over traditional ones because they can deposit their money through many payment methods. Especially now that many crypto casinos also make it easy for them so that people can also use crypto casinos where they don't need to use credit and debit cards to avoid investigations from the bank regarding the use of money in their account.

People nowadays prefer the convenient way, no matter what their age is as we are transitioning into the digital era. The only thing they need to worry about is the KYC if they want to play in reputable sites. But there are a lot of ways to get it done. I wouldn't be surprised if those big traditional casinos will also launch their online casino so they can go with the flow.

[Eureka_07]

<snip>

What I like about traditional casinos is their ambiance, the physical place. It is much more enjoyable to play in such a location compared to online casinos where you don't have any of that, physically. On the other hand, what's great with online casinos is their convenience.

Credit card companies are concerned with casino and sportsbook transactions because it's their money that the credit card holder will use. As we know, the industry has lots of potential fraud, and it also sometimes leads players to become addicted, which could result in higher credit usage by the holder, wherein they might not be able to pay those debts on time.

[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.

what op did was like hitting two birds with one stone. Generating a thread while promoting his site

If we look at the development of the gambling industry, today's young people might prefer casinos that can provide convenience rather than make themselves difficult. In this case, people will probably choose online casinos over traditional ones because they can deposit their money through many payment methods. Especially now that many crypto casinos also make it easy for them so that people can also use crypto casinos where they don't need to use credit and debit cards to avoid investigations from the bank regarding the use of money in their account.

People nowadays prefer the convenient way, no matter what their age is as we are transitioning into the digital era. The only thing they need to worry about is the KYC if they want to play in reputable sites. But there are a lot of ways to get it done. I wouldn't be surprised if those big traditional casinos will also launch their online casino so they can go with the flow.

I don't have any problem with people promoting their services or websites, obviously, as long as they offer some appealing information which catches the genuine interest of all of us.

I think some people would not agree if I decided to promote my website with such an spent topic like: "What is cryptocurrency" or "What is a crypto casino". Staff behind a project is supposed to be better than that or hide people capable of writing some interesting articles. Just my opinion.

[darewaller]

Both traditional gambling and online gambling have their respective advantages and disadvantages. We cannot say that online gambling is superior or better than traditional gambling and vice versa because there are fans for each type of gambling. And crypto casinos nowadays also cannot be compared to fiat casinos because each has its fans. We only need to choose an online casino or a traditional casino for gambling and casinos that can provide comfort in playing gambling for us. But each online or offline casino will keep abreast of technological developments so that online and offline casinos will always update their systems to keep their casinos safe.

To compare is possible because each has their own pros and cons. I think the main advantage of offline casino is you can feel them properly because you can touch the machine. Another thing is there is a crowd around you.

For some, this is good while for the other, it is a disadvantage because they can't concentrate or they feel awkward when someone is behind them or in their side watching how they play the game. They can also get paranoid and think what if some of these people rob me later on? So, they just play in the comfort of their own home in a online casino. It's easy for an online casino to evolve but hard for an offline casino to do the same but again, there are still a market for them.

[ethereumhunter]

Yes, you are right and that is what is currently developing because with today's technology all casino gambling can be accessed and used using cellphones, that is why I prefer to use crypto instead of using bank accounts or debit cards to avoid unnecessary questions from the bank conducting investigations on my account, using crypto is much easier than using a bank account.

Many of the traditional gambling casinos that I have seen are starting to be abandoned by their users, most of them are more fun using their cellphones to gamble anytime and anywhere, the easier it is to gamble, the more popular it will be because technology is developing quite at this time and young people also prefer to gamble using their cellphones.

That is the convenience provided by online casinos so that both online and offline gamblers can feel the attractiveness of this online casino. They started trying to play gambling online and found something different from what they had found that made them more interested in trying to play other casino games.

What's more, there are a wider variety of games that gamblers can get if they play online gambling games. That's what makes them spend a long time playing online gambling. And that's where many problems started to arise in gambling that made people addicted to online gambling.

From the development of crypto casinos, which are increasing very rapidly, we can see that people are very enthusiastic about crypto casinos, in fact, every day there are always novice gamblers who are starting to enter the crypto gambling industry.
Even so, traditional casinos are still widely enjoyed by some gamblers, but over time traditional casinos will be left behind and maybe traditional casino owners will also develop their casino business to become online and based on crypto.
If today's traditional casino owners don't try to develop online casinos, maybe they will lose their place and their income will definitely experience a pretty drastic decline.

People's interest in trying out crypto casinos is growing as people find that they don't need to connect their bank accounts to start gambling. They just need to buy the coins they want to start gambling. And there's always a new experience for those who want to find a different casino game.

But indeed, traditional casinos are not abandoned by their fans because these people still want to feel the real experience when playing gambling. They may still visit traditional casinos with their friends, play gambling games together, and spend time at gambling tables. And traditional casino owners can still benefit from these gamblers.

People nowadays prefer the convenient way, no matter what their age is as we are transitioning into the digital era. The only thing they need to worry about is the KYC if they want to play in reputable sites. But there are a lot of ways to get it done. I wouldn't be surprised if those big traditional casinos will also launch their online casino so they can go with the flow.

KYC has started to be implemented in many casinos and crypto casinos. But I think many crypto casinos still don't strictly implement KYC so gamblers who just want to play gambling and spend their spare time gambling can still enjoy it without having to do KYC. But when they use big money and manage to win big wins, the casino can ask them to do KYC and that's what they don't want after they are done gambling and want to withdraw the money.

To compare is possible because each has their own pros and cons. I think the main advantage of offline casino is you can feel them properly because you can touch the machine. Another thing is there is a crowd around you.

For some, this is good while for the other, it is a disadvantage because they can't concentrate or they feel awkward when someone is behind them or in their side watching how they play the game. They can also get paranoid and think what if some of these people rob me later on? So, they just play in the comfort of their own home in a online casino. It's easy for an online casino to evolve but hard for an offline casino to do the same but again, there are still a market for them.

Playing at an offline casino can provide a real experience by feeling the machine, getting excitement and fun, and getting real experience when playing gambling. And it will be different if they play online gambling because they cannot touch the machine. But the winnings will also be the same even if they only see it on their cellphone screen or monitor, but they get the winnings in their account balance.

Well, choosing to play online or offline will depend on one's comfort side because when he is comfortable playing gambling at an offline casino, he will not care about the people beside him. He just wants to enjoy his time gambling and having fun.

[xSkylarx]

What I really noticed in traditional casino or gambling is that the way you deposit money on it is sometimes difficult, like there are many platforms that you need to go through. There are still casinos that have used e-wallets with our local currency, but the problem is that most of those casinos that are using them that I am aware of are not legal; they mostly got closed down, and others won't release your winnings. That is mostly what I have noticed, and there are no established online casinos that I know of in our country that are using e-wallet. That is why I prefer crypto, as it is legal internationally and has been established already.

[pakhitheboss]

What I really noticed in traditional casino or gambling is that the way you deposit money on it is sometimes difficult, like there are many platforms that you need to go through. There are still casinos that have used e-wallets with our local currency, but the problem is that most of those casinos that are using them that I am aware of are not legal; they mostly got closed down, and others won't release your winnings. That is mostly what I have noticed, and there are no established online casinos that I know of in our country that are using e-wallet. That is why I prefer crypto, as it is legal internationally and has been established already.

Yes, deposit and withdrawal in traditional casino is not that fast as crypto casino. You have to go through multiple payment processing interface in traditional casino. Payment can take days to hit your bank account. e-wallet are just waste of time, they to take the same time to refill. Only positive thing is that the gambler doesn't need to wait for his deposit if he regularly refills the wallet. There are lot of advantages of using crypto casinos than traditional ones.

[retreat]

I think that compared to traditional gambling, crypto gambling is much better in every way, from convenience, anonymity, speed, easy deposits, staking features, etc, and the majority of people already admit that. So comparing traditional gambling with crypto gambling is not suitable, because indeed crypto gambling is an innovative form of gambling and I think in the future with increasing adoption of crypto globally, people's interest in gambling using crypto will also increase and traditional gambling inevitably will follow.