Can money be saved in gambling sites?

[Hirose UK]

~snip~

OP this is equivalent to asking if you can save your carrots in a rabbit hole. What were you even thinking before coming up with this kinda crazy Idea  . Logically it's possible to keep your funds in a reputable gambling site, but the question is, as a gambler can you resist the temptations of seeing your betting account heavily funded, because you'll definitely want to give it a try. If you've accumulated that level of self control then you can do that without the fear of loosing your fund. But for me, I'll never consider such an idea and I believe that majority of the people here would agree with me that it's a very risky method of saving up your funds. If you don't want to save your funds in fiat( which I'm highly against) and wish to save it using crypto, then their are so many better options to consider, there are several decentralized and centralized wallets and exchanges you can save up your money and still don't have to worry about your safety of the funds rather than considering this ridiculous id3a as an option. Lol

Hahaha you are right and it is indeed difficult to save some money on gambling sites because there is always the temptation to use it whether playing or betting because gamblers feel they have some money in their balance and when they see good opportunity they will definitely use it.
In addition, saving money on site is also very risky and can even cause bad things if the inappropriate site is used, but on reputable site the main obstacle is the temptation to use the money as gambling capital.
Moreover, I not sure there are gamblers who actually save large amounts of their money on gambling sites and they use this method to invest because there are lots of personal wallets that can be used if only to store investment assets.

But it is true that everyone has their own decisions and responses, perhaps OP really wants to save his money on gambling site with the aim of getting number of benefits and being able to gamble easily without having to deposit money at any time.

[maydna]

If putting your bitcoins in a custodial wallet is already a risky thing to do, imagine doing that in your betting account, it's actually much more riskier since you might be tempted to spend that money in bets or games in your account compared to the custodial wallets where there's really no risk besides that it's not your coins since you don't have the key to the wallet. You're going to get far more when you consider using non-custodial wallets or cold wallets to store your money if it's in bitcoin because that way you know where your money is and you know that you are the one responsible for it and it's probably safer since you have all the access to it. Nothing wrong with leaving some money here and there but storing everything on that account is ridiculous because what's going to happen to you if that casino or betting site suddenly closed? You're going to be left with no money and you are the sucker in that deal.

Yes, it would be riskier, and it would be better to keep the money in a custodian's wallet so we can fully monitor it. We definitely don't want to be tempted and use the money to gamble, especially since we have a goal of always being able to limit our gambling activities, so saving the money in a gambling account can make us forget our goals and just want to gamble. It can also make us addicted to gambling because we see that we still have a balance in our gambling account and think that if we use a little of that balance, it will certainly be okay. In the end, we use up all the balance, so we can't stop gambling as easily as we want. By keeping those coins in your wallet, you can learn to be responsible so that if there is an increase in transaction costs like what happened with bitcoin, you will wait until everything returns to normal, and that means you can resist the temptation or desire to gamble on At that time because we didn't want to pay large transaction fees just to send some money to our gambling account.

[Fatunad]

~snip~

OP this is equivalent to asking if you can save your carrots in a rabbit hole. What were you even thinking before coming up with this kinda crazy Idea  . Logically it's possible to keep your funds in a reputable gambling site, but the question is, as a gambler can you resist the temptations of seeing your betting account heavily funded, because you'll definitely want to give it a try. If you've accumulated that level of self control then you can do that without the fear of loosing your fund. But for me, I'll never consider such an idea and I believe that majority of the people here would agree with me that it's a very risky method of saving up your funds. If you don't want to save your funds in fiat( which I'm highly against) and wish to save it using crypto, then their are so many better options to consider, there are several decentralized and centralized wallets and exchanges you can save up your money and still don't have to worry about your safety of the funds rather than considering this ridiculous id3a as an option. Lol

Hahaha you are right and it is indeed difficult to save some money on gambling sites because there is always the temptation to use it whether playing or betting because gamblers feel they have some money in their balance and when they see good opportunity they will definitely use it.
In addition, saving money on site is also very risky and can even cause bad things if the inappropriate site is used, but on reputable site the main obstacle is the temptation to use the money as gambling capital.
Moreover, I not sure there are gamblers who actually save large amounts of their money on gambling sites and they use this method to invest because there are lots of personal wallets that can be used if only to store investment assets.

But it is true that everyone has their own decisions and responses, perhaps OP really wants to save his money on gambling site with the aim of getting number of benefits and being able to gamble easily without having to deposit money at any time.

The risks imposed on saving up money on a gambling site?

1. Temptation on spending those savings when gambling urge calls
2. Security - There's no way that it is really a wallet that you could depend on, they can ran anytime
3. Locked up potential
4. Imagine on having that 1x wagering into your deposit

I dont know on why people do think about this thing for it to be that viable or something that it is really a wise thing to be done? Are they out of their minds?
Saving up on a gambling site rather than with your own wallet or with banks. I dont know on what are the things that they've been thinking 

[letteredhub]

If putting your bitcoins in a custodial wallet is already a risky thing to do, imagine doing that in your betting account, it's actually much more riskier since you might be tempted to spend that money in bets or games in your account compared to the custodial wallets where there's really no risk besides that it's not your coins since you don't have the key to the wallet. 

There are imaginations we should allow to die out in the realm of imagination without we attempting to give it a try because the result won't be a commendable one, which makes the question op is asking omw of such imaginations. Putting funds in a gambling account as a way of hodling it is like keeping fresh meats under the watch of a dog and expecting it never to take a bite. How's that possible!
Custodial wallet is risky but gambling account is two-way risky. For it's either the casino uses kyc requirements to frustrate you from been able to withdraw our money due to how big the amount or they can actually runaway with your money without an excuse.  What's so difficult in me creating an electrum wallet and stacking my coins in there to avoid complex stories.

[Westinhome]

There are imaginations we should allow to die out in the realm of imagination without we attempting to give it a try because the result won't be a commendable one, which makes the question op is asking omw of such imaginations. Putting funds in a gambling account as a way of hodling it is like keeping fresh meats under the watch of a dog and expecting it never to take a bite. How's that possible!
Custodial wallet is risky but gambling account is two-way risky. For it's either the casino uses kyc requirements to frustrate you from been able to withdraw our money due to how big the amount or they can actually runaway with your money without an excuse.  What's so difficult in me creating an electrum wallet and stacking my coins in there to avoid complex stories.

The imagination was the cause of the gambler to withdrew the funds from the gambling,the gambler may consider the way of background check of the gambling sites.So they are free from the fear of losing the funds in the gambling sites and no need to worry to hold the funds in the gambling sites.Holding funds in the trusted gambling site may help the gamblers to save their transaction fee by the repeated deposits of the funds from the gambling sites for each game to the gambling sites.If the gambling site was the trusted one,you no need to worry about the deposits of funds in the gambling sites and holding the funds for the longer period compared to short period.

[FanEagle]

The mindset of putting the money somewhere to keep it there means that you do not want to touch it, like you want to "save" it, and gambling website is a terrible place for that, you may end up spending it. Freebitco.in is a different website when it comes to that, it is going to be hard not to put there because it gives 4%+ yearly return and I understand saving there is a bigger deal, that should be an important thing.

I remember that it is going to be a hard situation but it is not going to be impossible at all. I believe that we are going to end up with a situation that has to be all the more careful in the end. I guess the best thing to do in this case is to make sure that we are going to end up with a situation that will benefit you if you want to put it somewhere.

[RockBell]

The mindset of putting the money somewhere to keep it there means that you do not want to touch it, like you want to "save" it, and gambling website is a terrible place for that, you may end up spending it. Freebitco.in is a different website when it comes to that, it is going to be hard not to put there because it gives 4%+ yearly return and I understand saving there is a bigger deal, that should be an important thing.

I remember that it is going to be a hard situation but it is not going to be impossible at all. I believe that we are going to end up with a situation that has to be all the more careful in the end. I guess the best thing to do in this case is to make sure that we are going to end up with a situation that will benefit you if you want to put it somewhere.

Thats is the mindset when you keep your money somewhere but I feel for us that gamble keep money in gambling sites to place bet any time any day, the money is not for saving because if anyone wants to save money they will preferable want to save it in their banks and not online except if you have bitcoin and even that is much safer to save in a wallet. Wow Freebitco.in have such percentage return is a good one keeping funds their won't bother you that much.  I did not even know about this but my fear most is keeping money their I might just end up spending the whole money on gambling and I always have my target. Everyone can speak for their self in term of saving their. And it is best everyone do what favors them.

[EarnOnVictor]

If you're hiding money from the government and mostly from your wife, this is what the other gamblers do.

I've done with it before knowing Bitcoin, but until I know how to hide it using a bitcoin wallet, I won't do it again. Because when I think about it now, hide our money on gambling site online is very risky from hacker or the owner site online. but it also depends on how much money you hide it, If only $100 or $200 that is not a problem. Maybe if we are bored, and I want to clear our mind, hide on gambling site is good, While saving dan hding it maybe we can also make it multiple from $200 to $400. There is nothing possible as far as you trust it.

hiding or saving money in any gambling site is okay depends on the amount but not recommended, like what you've said, It's very risky and there are some possibilities that your money will lose in case the gambling site has a problem and tends to close.It's okay if you keep the allocated fund for your gambling on a gambling site but not that much amount, Just save the majority of you money in reliable crypto wallet.

I'm with you on some of your points but definitely not on many of them. It's the rightest advice that you do not "Save" your money in any custodial approach for too long, it would be ill-informed if done. A gambling platform is a gaming platform, it's for business and not your bank or your wallet, you should just do your thing there by holding the funds for your gambling plan, nothing more than that. This is applicable to whether the money is big or small, your money has to be kept where it belongs unless you are using it to gamble. When it comes to keeping, there is no better place to keep it than in your bank or your wallet, but if you are a high-volume player and keep much activity with your casino, fine, but the moment you have too many funds you are not using to bet, there is nothing it's doing there anymore. I can't imagine some people crying foul after issues arise due to the liquidation of the casino or their greed. This happens to small casinos often, so one has to be wise.

[Quidat]

If you're hiding money from the government and mostly from your wife, this is what the other gamblers do.

I've done with it before knowing Bitcoin, but until I know how to hide it using a bitcoin wallet, I won't do it again. Because when I think about it now, hide our money on gambling site online is very risky from hacker or the owner site online. but it also depends on how much money you hide it, If only $100 or $200 that is not a problem. Maybe if we are bored, and I want to clear our mind, hide on gambling site is good, While saving dan hding it maybe we can also make it multiple from $200 to $400. There is nothing possible as far as you trust it.

hiding or saving money in any gambling site is okay depends on the amount but not recommended, like what you've said, It's very risky and there are some possibilities that your money will lose in case the gambling site has a problem and tends to close.It's okay if you keep the allocated fund for your gambling on a gambling site but not that much amount, Just save the majority of you money in reliable crypto wallet.

I'm with you on some of your points but definitely not on many of them. It's the rightest advice that you do not "Save" your money in any custodial approach for too long, it would be ill-informed if done. A gambling platform is a gaming platform, it's for business and not your bank or your wallet, you should just do your thing there by holding the funds for your gambling plan, nothing more than that. This is applicable to whether the money is big or small, your money has to be kept where it belongs unless you are using it to gamble. When it comes to keeping, there is no better place to keep it than in your bank or your wallet, but if you are a high-volume player and keep much activity with your casino, fine, but the moment you have too many funds you are not using to bet, there is nothing it's doing there anymore. I can't imagine some people crying foul after issues arise due to the liquidation of the casino or their greed. This happens to small casinos often, so one has to be wise.

Whether exchange or gambling site or any custodial platforms is never been that safe. Just like the rest been saying that as long you dont possess the keys of a certain wallet
then its never been yours on which means that whenever they've decided to run away or would become scam then there's no way for retrieval. Also putting it up on a gambling site
in terms of your savings is never been that good or ideal because you would really be likely be spending those money once again on the site or platform
because are talking about gambling platform on here on which it would be normal that you will really be that easily to play if you wanted to and since you do have
balance then temptation would really be that high.

[letteredhub]

There are imaginations we should allow to die out in the realm of imagination without we attempting to give it a try because the result won't be a commendable one, which makes the question op is asking omw of such imaginations. Putting funds in a gambling account as a way of hodling it is like keeping fresh meats under the watch of a dog and expecting it never to take a bite. How's that possible!
Custodial wallet is risky but gambling account is two-way risky. For it's either the casino uses kyc requirements to frustrate you from been able to withdraw our money due to how big the amount or they can actually runaway with your money without an excuse.  What's so difficult in me creating an electrum wallet and stacking my coins in there to avoid complex stories.

The imagination was the cause of the gambler to withdrew the funds from the gambling,the gambler may consider the way of background check of the gambling sites.So they are free from the fear of losing the funds in the gambling sites and no need to worry to hold the funds in the gambling sites.Holding funds in the trusted gambling site may help the gamblers to save their transaction fee by the repeated deposits of the funds from the gambling sites for each game to the gambling sites.If the gambling site was the trusted one,you no need to worry about the deposits of funds in the gambling sites and holding the funds for the longer period compared to short period.

alright, lets agree the gambling site is a trusted one and has no issues existing for long term. Let's now beam our torch on the gambler who's holding the funds in his gambling account the likelihood is that he will be tempted to use a part of the funds to gamble, it usually start with small amount and from tampering with a small amount if he loses control of himself and forgot the purpose of holding the funds in his gambling account.  Not everyone can be able to resist the temptation that's why some people are scared of saving funds in gambling account.

[Sunderland]

Physical and online wallet founders/makers will be laugh after reading this thread lol, most of the comments on this thread are correct.
Gambling site is the place for us to gamble not saving nor hiding our precious crypto, if I have to choose where to hiding the crypto from my wife then I will choose a trusted exchange than a casino.
Even if we are not a gambler, our degen soul inside might not able to resist the temptation to place bets with those balance.

Also dont forget about the tax, crypto gambling tax is not cheap on certain countries. So it might work for you and some people but not for all.
Well, the bigger the money is - the more we care about the security of our precious.

[Wiwo]

Whether exchange or gambling site or any custodial platforms is never been that safe. Just like the rest been saying that as long you dont possess the keys of a certain wallet
then its never been yours on which means that whenever they've decided to run away or would become scam then there's no way for retrieval. Also putting it up on a gambling site
in terms of your savings is never been that good or ideal because you would really be likely be spending those money once again on the site or platform
because are talking about gambling platform on here on which it would be normal that you will really be that easily to play if you wanted to and since you do have
balance then temptation would really be that high.

Yes it is not your keys,  not your wallet,  this have been what it has been,  even though we have some exchange and casinos that offers banroll facility for the investment as to partakein the revenue sharing of the casino or exchange,  much more there are higher risks with such form of investment since you can lose the total whole of your money if anything happens to the platform while your money in it as an investment or what so ever it is.

[Mahanton]

Whether exchange or gambling site or any custodial platforms is never been that safe. Just like the rest been saying that as long you dont possess the keys of a certain wallet
then its never been yours on which means that whenever they've decided to run away or would become scam then there's no way for retrieval. Also putting it up on a gambling site
in terms of your savings is never been that good or ideal because you would really be likely be spending those money once again on the site or platform
because are talking about gambling platform on here on which it would be normal that you will really be that easily to play if you wanted to and since you do have
balance then temptation would really be that high.

Yes it is not your keys,  not your wallet,  this have been what it has been,  even though we have some exchange and casinos that offers banroll facility for the investment as to partakein the revenue sharing of the casino or exchange,  much more there are higher risks with such form of investment since you can lose the total whole of your money if anything happens to the platform while your money in it as an investment or what so ever it is.

Could you specify on what current gambling sites are offering that kind of investment option or choice for you to get a % or simply dividend on the money that they had parked into their platform?

Majority of sites now doesnt really offer such opportunity because most of them are really that sole proprietors on which they do ran off the business on their own bankroll.
It isnt really that common if we do speak about investment options because once they do make launching into this market then everything is already that prepared and you wont
really be having the options making some investment. There's a reason if you do make some storage or making it park on their since you re investing
but if you are really that making it as a wallet then it would really that too risky.

[JahriMeayer]

The OP maybe should use the term store, because if you are aiming to play in the near future,
it will save you fees if you just leave some of your funds in your account. However, it is not yet advisable to leave funds in a third party platform for some unexpected reasons such as hacking among others

most of reputable gambling websites don't require any additional deposit or withdraw fees in my opinion. So I don't found this reason as legit for store money on that gambling website. Although people are unique by thiers thoughts and anyone can do whatever they want with their money but storing or saving money on gambling website don't sounds wise to me as you agreed that many usually thing could be happened and get hacked could be one of those. But it is okey to keep that much money on the main gambling account so that a person can start gambling tomorrow or the day after tomorrow. Thats enough. Besides you also need to have strong mindset for not to use extra money within a day for recovery losses or something else

[Hispo]

Physical and online wallet founders/makers will be laugh after reading this thread lol, most of the comments on this thread are correct.
Gambling site is the place for us to gamble not saving nor hiding our precious crypto, if I have to choose where to hiding the crypto from my wife then I will choose a trusted exchange than a casino.
Even if we are not a gambler, our degen soul inside might not able to resist the temptation to place bets with those balance.

Also dont forget about the tax, crypto gambling tax is not cheap on certain countries. So it might work for you and some people but not for all.
Well, the bigger the money is - the more we care about the security of our precious.

By the way, if we keep on mind that both gaming platforms and exchanges are centralized and custodial services, some people may argue there is no much difference between keeping one's funds in a casino or an exchange. In either case we do not have a complete control over our money.

Also, I know exactly what you mean when you talk about someone feeling the temptation to gamble money they are not supposed to. It is something which is common to happen, specially to people of this forum who receive campaign payments directly to their casino accounts. I have read about unlucky users lossing their payment completely because the urge you talk about.

[electronicash]

Physical and online wallet founders/makers will be laugh after reading this thread lol, most of the comments on this thread are correct.
Gambling site is the place for us to gamble not saving nor hiding our precious crypto, if I have to choose where to hiding the crypto from my wife then I will choose a trusted exchange than a casino.
Even if we are not a gambler, our degen soul inside might not able to resist the temptation to place bets with those balance.

Also dont forget about the tax, crypto gambling tax is not cheap on certain countries. So it might work for you and some people but not for all.
Well, the bigger the money is - the more we care about the security of our precious.

By the way, if we keep on mind that both gaming platforms and exchanges are centralized and custodial services, some people may argue there is no much difference between keeping one's funds in a casino or an exchange. In either case we do not have a complete control over our money.

Also, I know exactly what you mean when you talk about someone feeling the temptation to gamble money they are not supposed to. It is something which is common to happen, specially to people of this forum who receive campaign payments directly to their casino accounts. I have read about unlucky users lossing their payment completely because the urge you talk about.

i still have some funds in sportsbet for a while already. i was just looking for a match in sports that is worth betting so it's been there like stored for several months already i say i fought the temptation but maybe because i'm more off into sports than chasing my luck with casino games. the ones with the urge and store their coins are likely going to push the button especially when they think the luck is with them that very day.

still storing in casino is worse than one could decide, its not even meant for storing but because there's a wallet, its somehow convenient ffor gamblers.

[KennyR]

Physical and online wallet founders/makers will be laugh after reading this thread lol, most of the comments on this thread are correct.
Gambling site is the place for us to gamble not saving nor hiding our precious crypto, if I have to choose where to hiding the crypto from my wife then I will choose a trusted exchange than a casino.
Even if we are not a gambler, our degen soul inside might not able to resist the temptation to place bets with those balance.

Also dont forget about the tax, crypto gambling tax is not cheap on certain countries. So it might work for you and some people but not for all.
Well, the bigger the money is - the more we care about the security of our precious.

By the way, if we keep on mind that both gaming platforms and exchanges are centralized and custodial services, some people may argue there is no much difference between keeping one's funds in a casino or an exchange. In either case we do not have a complete control over our money.

Also, I know exactly what you mean when you talk about someone feeling the temptation to gamble money they are not supposed to. It is something which is common to happen, specially to people of this forum who receive campaign payments directly to their casino accounts. I have read about unlucky users lossing their payment completely because the urge you talk about.

i still have some funds in sportsbet for a while already. i was just looking for a match in sports that is worth betting so it's been there like stored for several months already i say i fought the temptation but maybe because i'm more off into sports than chasing my luck with casino games. the ones with the urge and store their coins are likely going to push the button especially when they think the luck is with them that very day.

still storing in casino is worse than one could decide, its not even meant for storing but because there's a wallet, its somehow convenient ffor gamblers.

Agreed, most of the gamblers prefer to have funds in their gambling platform wallet for their convenience and not for security reasons. Not everyone have the control, and here it is good that you have control on your gambling activities. Most of the funds kept on the gambling platform gets lost due to the urge to gamble and not due to security or other reasons. Rather than switching between wallets and to avoid the spending of few dollars worth of cryptocurrency on transaction fee most common gamblers prefer to have the funds on the gambling platforms.

[Hispo]

Physical and online wallet founders/makers will be laugh after reading this thread lol, most of the comments on this thread are correct.
Gambling site is the place for us to gamble not saving nor hiding our precious crypto, if I have to choose where to hiding the crypto from my wife then I will choose a trusted exchange than a casino.
Even if we are not a gambler, our degen soul inside might not able to resist the temptation to place bets with those balance.

Also dont forget about the tax, crypto gambling tax is not cheap on certain countries. So it might work for you and some people but not for all.
Well, the bigger the money is - the more we care about the security of our precious.

By the way, if we keep on mind that both gaming platforms and exchanges are centralized and custodial services, some people may argue there is no much difference between keeping one's funds in a casino or an exchange. In either case we do not have a complete control over our money.

Also, I know exactly what you mean when you talk about someone feeling the temptation to gamble money they are not supposed to. It is something which is common to happen, specially to people of this forum who receive campaign payments directly to their casino accounts. I have read about unlucky users lossing their payment completely because the urge you talk about.

i still have some funds in sportsbet for a while already. i was just looking for a match in sports that is worth betting so it's been there like stored for several months already i say i fought the temptation but maybe because i'm more off into sports than chasing my luck with casino games. the ones with the urge and store their coins are likely going to push the button especially when they think the luck is with them that very day.

still storing in casino is worse than one could decide, its not even meant for storing but because there's a wallet, its somehow convenient ffor gamblers.

I don't know about you, but the idea of storing crypto in a casino until one feels good luck is with one that day is rather silly. I would think of myself having a little bit of Bitcoin deposited in Stake and because I would feel lazy or because it is just a little bit, I chose not to withdraw it from the casino to a non-custodial wallet.
So if for some reason that day several good things happen to me for no apparent reason, then I would probably take some of my spare time to see if I can get a good multiplier.
Statistically, we all know that luck is just an anomaly on what numbers tell us is more likely to happen, but the feeling of good luck through one of those days can feel very real.

[348Judah]

Is good to save money for future use so we can make good use of it when ever we need to, now what if you decide to save money in your betting account will that be possible to?
We can decide not to save money in our fiat bank account or any other micro finance bank account for one reason or the other and save it in a licensed gambling sites can that idea be possible, will the money deposited there not be tempered with from the gambling platform or removed automatically from the account after keeping it for a long period of time?
I know it might be very hard to save money in a gambling site because we  might have the feelings of winning if we try to stake, it can be hard for a gambler to save money in a gambling site but it will be easy for a non gambler, I put in mind that everything start one day so even a non gambler can try at the first, I bring this discussion here so we can discuss about it to keep our selfs busy.

If you save up your money on gambling platforms, you're likely to be in this man same conditions from the image above if you keep using a custodial wallet for your asset, gambling wallets are best used when we keep the money we have assigned to gambling in it because they are purposely for gambling and we can afford using them all for that same specific purpose of gambling, if we want to hold and save up our money, the best is not in account where it could be used for gambling, we can make use of cold storages for our assets and hold them there because the keys are in our custody and we cannot also easily use the money for gambling.

[Westinhome]

Yes it is not your keys,  not your wallet,  this have been what it has been,  even though we have some exchange and casinos that offers banroll facility for the investment as to partakein the revenue sharing of the casino or exchange,  much more there are higher risks with such form of investment since you can lose the total whole of your money if anything happens to the platform while your money in it as an investment or what so ever it is.

The good gambling site was the safest one,even though it was not our wallet or keys to safe guard of the wallet.The gambler who had enough money to balance their monthly expenses can hold the their coin in the gambling site itself.The world famous gambling site stake.com was safe to hold your coin,it was my personal opinion,because I had huge holding in that gambling site.My money was safer in that gambling site,So you should choose the best gambling site to hold the money.This give you safe feelings even if your hold the money in the gambling site.This also help to save the deposit and withdrew fee all the time you use to deposit and withdraw.If you feel you get the good luck from the gambling site,then use the holding money and multiple the funds to many times only in the gambling site is Possible.