Can money be saved in gambling sites?

[Solosanz]

If you only want to use casino to store your coins, it's really a bad idea. I mean how can you have such idea when there's a free non custodial wallet you can use and it's already way way more safe than relying on centralized platform.

Some people use casino to store their coins, but they're invest in casino bankroll, so they will make profit as long as the casino make profit too. But there's a risk of getting hacked and your coins will be gone too.

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[TopTort777]

Gambling casinos same as exchanges are not the best places to keep money. Only keep there funds you plan to gamble with. Imho, gambling sites have worse defense systems than exchanges. Imho they are easier to hack, and they have more temptations to perform exit scams than exchanges or banks. The only way to hold money is your own wallet!

[Ulven]

Saving money for the future is typically a good idea, but using a gaming website as a savings platform carries hazards. Licenced gambling establishments are mostly made for gaming and betting, not for long-term investments. There is a chance that you could lose your money because of the ups and downs of gambling results. The terms and conditions of gaming platforms may also permit withdrawals of funds or the imposition of charges following a period of inactivity.
Using conventional savings accounts or investments created especially for saving money is safer if you're trying to do so. Over time, these provide your funds with increased stability and security. Though gambling has a chance to pay off, it's still best to proceed with prudence and avoid using it as your main source of savings.

[Mr. Magkaisa]

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 don't want to save money in any bank, why not in a gambling casino or put money that increases the chances that you will move it because, of course, that is gambling? It will cross the mind of a gambler that he might be lucky on this day and tempt him to play with that mentality, which is to ignore saving money.

Instead of putting it in your casino account or keeping it, it's better to put it in an exchange that is known and somehow secure, like Binance or any Dex platform. At least the risk is very minimal compared to gambling casinos.

[Negotiation]

You can opt for other banking accounts as you plan to save money for the future. Saving money on gambling sites is a lot of risk, it will be more dangerous because there is no guarantee in saving money in this game, if you get scammed you will lose everything. The best reason to save can be to gain a sense of accomplishment. The feeling that your bank account size is getting bigger day by day is undoubtedly a pleasure for you. A great reason to save is to keep money in reserve for emergency use. You may need money suddenly. If you have some money in hand, you can't even imagine how that money can be used in emergency situations. But there is no such guarantee in the case of gambling sites.

[ralle14]

It's a bad call to save money in a gambling wallet because most crypto casinos will require you to gamble all of your deposits at least once and other casinos can charge high fees for withdrawals. You'll eventually lose a small portion of your money because you can't always roll over your deposit without losing anything.

Also, casinos have different minimum deposit amounts so you can't always put in money compared to bank accounts or online wallets. There are too many inconveniences in using gambling wallets as an alternative to a savings account.

[Cantsay]

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?

No offense but this is total nonsense.

You see people putting little amount into their gambling account so that it will help them reduce their gambling activity and you want another to start saving money in their gambling account.

It will be better to create a dedicated fiat account and start depositing your money there without having to touch them, you could also explain to the bank that you don’t want to withdraw the money anytime soon and that they should put some kind of restriction to prevent from ever withdrawing from the account before the set date.

[coinerer]

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.

Why would you want to save your money on a gambling site? Where everyone thinks they want to keep their money in a safe place like bank, gold, Bitcoin etc. Gambling is a very dangerous place where once you take money you can't get it back very easily because if you are addicted to gambling you will gamble a lot and lose money. so dont't try to save your money on gambling site. you can invest your money on the valuable place like bank FD, Gold, Bitcoin etc...

[_act_]

Imho, gambling sites have worse defense systems than exchanges. Imho they are easier to hack, and they have more temptations to perform exit scams than exchanges or banks. The only way to hold money is your own wallet!

Gambling sites have worse defense systems than exchanges? Why comparing the two? You do not need to compare both of them. It is not good to keep coins on exchanges and neither is it good to keep money on gambling sites. But if you want to compare both gambling sites and exchanges, exchanges are frequently hacked than gambling sites but both are not ways to save coins. Money should be on noncustodial wallets which you control the private keys.

[pawanjain]

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.

It's probably the worst idea I have heard in this year. Why would any sensible person chose to store his savings on a gambling site ?
There are 3 major reasons why nobody would store his money on a gambling site.

1. Gambling site does not offer any benefits to hold balance on the site.
2. If there's balance in gambling account, we would definitely be tempted to use it for gambling.
3. Chances are that the site may be hacked or scam the users and run away with the money. There's nobody to help you in this case.

[rojan]

If you are saving money for future use, why not deposit it on a bank. Or in any wallet that offers an interest for your savings. It would be better than keeping it in a gambling site with no interest. Also, saving it in gambling site might make you spend that money in gambling. As you have said, it is for your future use, then it means that you have a plan in the future. What you need is to make money with that savings of yours.

I think it would be better to invest money in a bank or some other place rather than investing in a gambling site to save money. It is very difficult to deposit money that will be invested in a gambling site because there is a possibility of losing any time after gambling.  Again there will be a chance of profit so I think it is better not to take such risk. Sometimes nothing is gained without taking risk but after thinking about it well the risk should be taken.

[kawetsriyanto]

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?

Sure, it is possible. But why you choose gambling account to save money? Don't you think it is very risky, dude? You could spend all the money in a day if you can't control emotion to chase your losses someday. Or the money can be trapped on the gambling site if someday you can't access your gambling account anymore. I think for savings, put the money on banks or convert it to gold should be a better option.

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,~

Non gamblers will never think to register on a gambling site, they won't create a gambling account. Even someone never gambles, it doesn't guarantee he won't gamble forever. How if someday he decides to gamble and spend all the saving money on the account. Someone who has lack of experience in gambling, probably has a bigger chance to play excessively.

[$crypto$]

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?

Are you in the right mind to saving money on a centralized gambling site? Many people do not recommend keeping money on centralized exchanges even though Binance is the largest exchange but it is still risky especially gambling sites are even more risky to keep money there.

If you keep your money in a casino it won't be kept properly, you might keep checking your account, keep wanting to play out of curiosity to see other people win, for example, using a little money to bet for a long time you can become addicted.

Storing bitcoin money or assets is better in a hardware wallet or non-custodial wallet, it is widely available and free.

[BitcoinGirl.Club]

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.

It's probably the worst idea I have heard in this year. Why would any sensible person chose to store his savings on a gambling site ?
There are 3 major reasons why nobody would store his money on a gambling site.

1. Gambling site does not offer any benefits to hold balance on the site.
2. If there's balance in gambling account, we would definitely be tempted to use it for gambling.
3. Chances are that the site may be hacked or scam the users and run away with the money. There's nobody to help you in this case.

You are giving useless suggestions to the OP.
I think he knows all of these 1, 2, 3.
When someone is too lazy to create a wallet and send the funds to his own wallet, then they deserve to save any amount of money in whatever service they want. Gambling site, exchange, none matters at all.

Yes, OP do it. Move all your funds to the site you have in mind.

[xSkylarx]

This is really a dumb idea because casinos won't last like banks. Just imagine holding your money in a casino for thousands of dollars, and after a few years, let's say 2 years, the casino files for bankruptcy, and they will not inform you or the other customers, and your money will be gone. Also, the casino owner has access to your account, meaning they can get those funds or do whatever they want. It is still preferable to use a bank or hold it in Bitcoin.

[alastantiger]

now what if you decide to save money in your betting account will that be possible to?

Saving money on a gambling site is a very terrible idea. It would be better that I dig a hole in my back yard and put my money there than to save it in a gambling site. At least I would know that my money is save underground than in a gambling site where the worse can happen at any time.

However, if you decide that you want to go ahead and save your money on a gambling site make sure that your KYC documents are approved first. I do not know how much you have but you can try saving your money in assets with potential to increase in value and that can be easily liquidated. Bitcoin, property rentals, gold, some stocks are but a few example.

[qwertyup23]

OP! You have chosen the wrong board. You should transfer your topic to the gambling discussion child board. Now coming back, why would anyone save their money in a gambling wallet? The purpose of the wallet is to instantly use the money for gambling purposes. In my opinion, unless you gamble daily there is no point in keeping crypto or fiat money in a casino's wallet.

In addition to what you have posted, leaving any funds on your gambling wallet can put your funds at risk for potential loss.

Remember that the more you keep in your gambling wallet, the more reason for the gambling platform to discover any kind of fraud that will make your funds impossible to deposit. That is the reason on why majority have suggested to move your funds to a different wallet as soon as you receive them in a gambling game.

There have been several instances where people failed to move their BTCs in gambling wallets which resulted to some being tagged as a person who have violated their rules, when in fact, they did not.

[Yatsan]

Question is why? For sure we are all aware that it is not a good thing to do 'coz it has a weaker security than with banks or crypto wallets. Also, it would be at risk if anything happens to that particular gambling website. Another risk is lacking self discipline to somehow use all of those money in betting. If it is just a small amount then that would be fine but if it is a huge winnings, then withdrawing it would be better. This is laziness I believe 'coz there's no valid reason to do so except for not planning to save any amount for other purposes than gambling. If that's so, chances are high that you'd lose it eventually either in games or with breach related issues.

[Huppercase]

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.

First of all, Gambling platform as the name implies, its a place where you bet matches and play games that involve you wagering money, and at the end of the outcome, you either win or loss, nothing more than that, keeping money there is risky because:

• The gambling platform may experience technical issues that can make them go offline and when you need the money on the platform, it becomes a problem to get access to the money, you will have to wait till the site comes back online.
• You will lose everthing the day they don't come back again or becomes bankrupt, you don't want that to happen.
• Gambling site policy changes time to time, by the time you violate one of them, your risk your money been freeze and to withdraw become a headache.
• What are you going to do if a scammer get access to your account, they will withdraw every penny on that account.

It's better to have your money sent to external place for maximum protections to avoid all of these problems.

[salad daging]

Gambling casinos same as exchanges are not the best places to keep money. Only keep there funds you plan to gamble with. Imho, gambling sites have worse defense systems than exchanges. Imho they are easier to hack, and they have more temptations to perform exit scams than exchanges or banks. The only way to hold money is your own wallet!

Yes why is there such an idea that should store assets in a casino? If the exchange is better then just keep it there but still not recommended unless the wallet is on its own control.

True casinos are still vulnerable to being turned out to be scams and this has happened a lot even though the same thing happened with the main exchange its a centralized based platform it will not be safe for your assets, better stay away and use a more secure wallet.

For me the casino is only special money to bet, if you win then pull don't keep it there for long.