Can money be saved in gambling sites?

[ndutndut]

Saving money on gambling sites is not a good idea, even for well-known sites, I don't think it is advisable to save money there. If you understand crypto storage security, you actually agree that it is not safe for us to store money on centralized exchanges. Moreover, saving money on gambling sites, this is a fatal mistake.

Apart from that, saving on gambling sites also makes us wasteful because we will always decide to gamble again. In the end, we cannot control our emotions when gambling, especially if we save a lot of money there. It's a good idea, if you want to save on a gambling site, just for gambling purposes.

[blockman]

I am sure, for those who are not familiar with gambling then of course, they will not save their money on online gambling platform. But for those who are used to gambling because at the same time, they are also used to making deposits in online gambling. So at least, this factor will make them feel comfortable saving their money on the platform they usually use.

While those gamblers are confident in saving their money on the casino they use, there really are those people who are doing this for their own particular reasons that some may not understand. And despite you give them a warning, they know what they are doing.

But still, saving money on an online gambling platform will not be right or good if you use it for the long term. But it's also possible, if the gambling platform has a license which of course, will make its users feel safe. So yes, it is possible that there are many users who save their money there for a possibly longer period of time. But one thing we must remain aware of is that we must also have awareness and calculations about the money we should to save and the money we will use for gambling.

It's just like the exchanges that we're using, they're also licensed but we don't want to keep most of our money there. If you like to do that and has full confidence on them, you're free to do that and no one can stop you. The only reason why we're telling not to keep that much is because we don't have the custody over our deposits here and whenever an attack happens and the attackers are able to touch all funds including yours, it's possible that you wont get any refund so there is no assurance with that.

[Aikidoka]

Saving money on gambling sites is not a good idea, even for well-known sites, I don't think it is advisable to save money there. If you understand crypto storage security, you actually agree that it is not safe for us to store money on centralized exchanges. Moreover, saving money on gambling sites, this is a fatal mistake.
~snip~

True, I wouldn't want to keep my own money on a gambling site or even in a crypto exchange because it's not safe, especially if you plan to save a huge amount over an extended period in a casino or a CEX.

As the famous statement goes, 'Not your keys, not your bitcoins,' or something similar to that. So, I'd prefer to immediately transfer my winnings to my own personal wallet instead of leaving my money on someone else's website.

[sompitonov]

I think that's not the right way, because your money can be frozen on a gambling site if you don't play it and you keep it there for too long, because incidentally the case was the same as mine where I forgot my funds were on a gambling site then after 2 years I back again, my account has been suspended along with the funds, that's why it's highly not recommended I personally experienced that.

Well really it can happen and not infrequently I also like to find the accounts of my colleagues who are then frozen. It happens usually because they keep money there for too long or when they want to make a large withdrawal, and suddenly there is a notification that their account is frozen. Honestly, I don't understand why this happens, but maybe some casinos just can't be trusted and they might be trying to commit fraud.

Moreover, saving it on other sites such as trading sites, that's not good, it's better to keep it in a personal wallet if your money is in crypto, obviously it will be very comfortable and safe for you to hold and save as an investment, especially since there are many wallets available and quite safe , so using it would be better than keeping it in the casino, I'm sure everyone agrees with me  

Well I also agree with that, there are still many options that we can choose to minimize losing money there, on the other hand we never know and can never predict about something that will happen, don't be too sure to say no because maybe it can happen at any time. Well now there are so many digital wallets available, everything is facilitated and we just have to choose the one that we think is safer and more comfortable. This will be very useful to reduce the level of loss that is certainly not desirable.

Of course, some casinos cheat, but before that you can look for reviews of quality casinos or read information about this on the forum. But you need to remember that some reviews may be custom-made. Also, you shouldn’t keep a large amount of money in your account for a long time, it’s like storing crypto on an exchange, remember: not your keys, not your money.

Unscrupulous casinos don't like it when people win money from them. They divide accounts into 2 types: those that are losing all the time and those that are winning. So, for accounts that have won and are trying to take money out, the casino can put them in trouble and demand verification and a bunch of other documents so that the player has money in his account. And while your account will be additionally verified for days and weeks, you can try to play again, but this time you will leave all the money to this casino.

[klidex]

I am sure, for those who are not familiar with gambling then of course, they will not save their money on online gambling platform. But for those who are used to gambling because at the same time, they are also used to making deposits in online gambling. So at least, this factor will make them feel comfortable saving their money on the platform they usually use.

While those gamblers are confident in saving their money on the casino they use, there really are those people who are doing this for their own particular reasons that some may not understand. And despite you give them a warning, they know what they are doing.

But still, saving money on an online gambling platform will not be right or good if you use it for the long term. But it's also possible, if the gambling platform has a license which of course, will make its users feel safe. So yes, it is possible that there are many users who save their money there for a possibly longer period of time. But one thing we must remain aware of is that we must also have awareness and calculations about the money we should to save and the money we will use for gambling.

It's just like the exchanges that we're using, they're also licensed but we don't want to keep most of our money there. If you like to do that and has full confidence on them, you're free to do that and no one can stop you. The only reason why we're telling not to keep that much is because we don't have the custody over our deposits here and whenever an attack happens and the attackers are able to touch all funds including yours, it's possible that you wont get any refund so there is no assurance with that.

Almost all experienced people will say something like this when in the past they have experienced losing some money on online platforms such as gambling sites or crypto markets.
There have been many incidents where people who saved money on online platforms lost all their money when the site closed gambling and cheated many people and I am sure that almost most of the people here have experienced problems like this and advise that it would be wiser not to save money on any online platform.

[Docnaster]

I am sure, for those who are not familiar with gambling then of course, they will not save their money on online gambling platform. But for those who are used to gambling because at the same time, they are also used to making deposits in online gambling. So at least, this factor will make them feel comfortable saving their money on the platform they usually use.

While those gamblers are confident in saving their money on the casino they use, there really are those people who are doing this for their own particular reasons that some may not understand. And despite you give them a warning, they know what they are doing.

But still, saving money on an online gambling platform will not be right or good if you use it for the long term. But it's also possible, if the gambling platform has a license which of course, will make its users feel safe. So yes, it is possible that there are many users who save their money there for a possibly longer period of time. But one thing we must remain aware of is that we must also have awareness and calculations about the money we should to save and the money we will use for gambling.

It's just like the exchanges that we're using, they're also licensed but we don't want to keep most of our money there. If you like to do that and has full confidence on them, you're free to do that and no one can stop you. The only reason why we're telling not to keep that much is because we don't have the custody over our deposits here and whenever an attack happens and the attackers are able to touch all funds including yours, it's possible that you wont get any refund so there is no assurance with that.

Gambling sites aren't one of the safest places to for anyone to save his or her money and that's because of the fact you won't be totally in control of what happens in the site since it was launched by another party. Sometimes, these gambling sites are attacked by hackers and and some people whose money are on the sites ends up losing their money. Also the security of some of the gambling sites aren't that strong and sometimes as well people do maneuver them and get their customers personal login details and take everything they see in the account.

[borovichok]

Saving money on gambling sites is not a good idea, even for well-known sites, I don't think it is advisable to save money there. If you understand crypto storage security, you actually agree that it is not safe for us to store money on centralized exchanges. Moreover, saving money on gambling sites, this is a fatal mistake.

Apart from that, saving on gambling sites also makes us wasteful because we will always decide to gamble again. In the end, we cannot control our emotions when gambling, especially if we save a lot of money there. It's a good idea, if you want to save on a gambling site, just for gambling purposes.

We gamble to earn small change from the system, we just have to stick to the system and probably learn alot of things. Other than settling for gambling sites, which I find very challenging, there are various methods of saving money. Doesn't seem it interesting to save money on gambling sites? Of course, this is one of the worst decisions that could lead to account insolvency. There will be tempting functions and circumstances that encourage placing wagers on games with money that has already been deposited on the sites, but we risk losing everything we put in.

[imamusma]

-

Almost all experienced people will say something like this when in the past they have experienced losing some money on online platforms such as gambling sites or crypto markets.
There have been many incidents where people who saved money on online platforms lost all their money when the site closed gambling and cheated many people and I am sure that almost most of the people here have experienced problems like this and advise that it would be wiser not to save money on any online platform.

There are many cases of losing money when someone entrusts their money to a third party regardless of whether it is online or offline. Casinos and exchanges are not reliable long-term storage wallets, but you can always use them for short-term needs. We have heard the wise advice that do not entrust your money to third parties, it is never safe because it is not your keys and not your coins.

[Ever-young]

That will be a bad decision to make, first of all it’s not really good to use a centralized system for saving of funds followed by the risk that gambling platform have, in the aspect of one falling into the temptation of always wanting to gamble all the time and trying to check out all new options on the gambling site.

having money already in a gambling account makes it easily for a gambling to spend more than they have planned to gamble with because they will no long have to think about the stress of funding the betting account and aside from that of what just happens to stake few weeks back repeat on your choice of gambling site then you will have to face the consequences your self as you can’t predict if you will get your funds back or not, so the best thing to do even if you won those funds from the casino is to withdraw them out and save only the one that you plan to use in their that way you can be rest assured that you don’t have much thing to be afraid or even worry about.

[maydna]

~snip~

If the website was good after you analysis by the data from the announcement details of the casino site,you can hold the money in the casin site.But for the safety,you can withdrew the funds after the winning in the gambling sites.In some sites,many people was report of not able to withdrew the funds after the big win.In order to avoid such things,you can do the withdrew immediately after the winning.If the money needed on the game,you can do deposit of money which you needed for specific game.The gambler can save their money in the wallet if the website had no trust issue to save the deposit time for the next game.The gambler can withdrew the big money after the big winnings from the multiple game.

Even though the casino site is good, it doesn't mean we can save a lot of money in the casino because we have to avoid bad things happening to the casino at any time. This is for the safety of our money, and we have to keep it in another wallet and not keep too much in the wallet on our gambling account. Apart from that, it will be difficult for us to control the money because it is not stored on our devices. By storing it in a personal wallet, at least we can avoid hacking an account, which still often happens in casinos, either because the casino's security is leaked or we don't activate all the procedures the casino has suggested to us. And even though the casino is a trusted casino site, we don't need to keep money in our gambling account. We are responsible for the money we have.

[blockman]

Almost all experienced people will say something like this when in the past they have experienced losing some money on online platforms such as gambling sites or crypto markets.
There have been many incidents where people who saved money on online platforms lost all their money when the site closed gambling and cheated many people and I am sure that almost most of the people here have experienced problems like this and advise that it would be wiser not to save money on any online platform.

That is another thing, since you have mentioned about the casino being closed. When you've been on hiatus and the casino where your money has been deposited, you're trusting them but they've sent you a lot of notice and you didn't noticed it because you're too confident. Then, the deadline comes for the withdrawal and your money is still on them, they will take it no matter what unless they will allow you another chance to take it. That's another disadvantage of it, even you trust them but you don't know what's happening on their internal affairs that they already have been dropping and cutting cost but they're not sustainable anymore. So, missing the deadline is gonna lose your money as it's on their email notice. And this scenario happens and will happen in the future for some other casinos there.

Gambling sites aren't one of the safest places to for anyone to save his or her money and that's because of the fact you won't be totally in control of what happens in the site since it was launched by another party. Sometimes, these gambling sites are attacked by hackers and and some people whose money are on the sites ends up losing their money. Also the security of some of the gambling sites aren't that strong and sometimes as well people do maneuver them and get their customers personal login details and take everything they see in the account.

Exactly, you'll never know if they're already being in the eyes of the hackers and the next one to get hacked. Most of the casinos are investing into security, the big ones but if you ever do this on a starting casino and not yet established, well, you can't ask for more.

[Westinhome]

Saving money on gambling sites is not a good idea, even for well-known sites, I don't think it is advisable to save money there. If you understand crypto storage security, you actually agree that it is not safe for us to store money on centralized exchanges. Moreover, saving money on gambling sites, this is a fatal mistake.

Apart from that, saving on gambling sites also makes us wasteful because we will always decide to gamble again. In the end, we cannot control our emotions when gambling, especially if we save a lot of money there. It's a good idea, if you want to save on a gambling site, just for gambling purposes.

We can’t say it blindly,if the gambling site is good by investigation.We no need to worry about holding the money in the gambling sites.If the gambling site you are using is huge trusted among the gamblers over the years,you can hold the money with the doubt.Better keep some investigation on the gambling site,satisfy yourself is important one before holding the money.You should not get worry on the website and worry by random holding.Take a week to investigate and use the time..Then you can keep the money in that gambling site for the longer period and use the money on demand.

[TelolettOm]

Saving money on gambling sites is not a good idea, even for well-known sites, I don't think it is advisable to save money there.
-snip-

We can’t say it blindly,if the gambling site is good by investigation.We no need to worry about holding the money in the gambling sites.If the gambling site you are using is huge trusted among the gamblers over the years,you can hold the money with the doubt.

I think @ndutndut doesn't say claim it blindly.
Whatever the reason, it is always not advisable keeping money in the gambling account. It is not only about the security or popularity of the gambling site. When we have money in gambling site, we probably use all the money for gambling. Sometimes, it is not easy to control emotion, we can think to chase winnings. In this situation, we easily gambling more and more because we have saving money in gambling account. But if we have no saving money in gambling account, we can be easier to stop gambling whenever we are difficult to control emotion.

So, even if the gambling site is very secure and highly trusted, it can't guarantee our money safe. It is because of our habit in gambling, there is always the time when we are out of control in emotion.

[noormcs5]

this thread reminds of me of what happened to Stake recently where they just got hacked. not sure if the coins of the users were also compromised but hopefully not after all Stake is very rich and can refund all.

but what happens if it weren't stake.com? if it was just a casino that isn't very well known and only a few thousand in their budget for refunds then you lost your coins as if you are scammed.

Well, there is no impact on the stake users as Stake being the huge gambling casino, has already compensated the affected users but again this does not mean that we use the gambling sites as wallets and save our money on those sites.

You should only deposit the amount with which you want to gamble and the rest amount should be in your personal wallet and on the centralized casino sites. Even your money should not be in any centralized sites including the trading platforms or the online wallet sites that do not give access to your private keys.

[zuzie]

Saving money on gambling sites is not a good idea, even for well-known sites, I don't think it is advisable to save money there. If you understand crypto storage security, you actually agree that it is not safe for us to store money on centralized exchanges. Moreover, saving money on gambling sites, this is a fatal mistake.

Apart from that, saving on gambling sites also makes us wasteful because we will always decide to gamble again. In the end, we cannot control our emotions when gambling, especially if we save a lot of money there. It's a good idea, if you want to save on a gambling site, just for gambling purposes.

We can’t say it blindly,if the gambling site is good by investigation.We no need to worry about holding the money in the gambling sites.If the gambling site you are using is huge trusted among the gamblers over the years,you can hold the money with the doubt.

I agree with you that not all gambling sites are fake (cheating). There are some people who dare to save their money on gambling sites that they think are accurate and trustworthy. I once heard of someone who dared to save his money on a gambling site because his money was lost when he deposited it in a bank, even though the bank was already familiar to the general public, therefore he was more confident in saving his money on a gambling site.
From this incident we return to ourselves, we can determine the best place to store our money so that it is safe and always be careful in making decisions.

[Oluwa-btc]

Sweet Jesus! 
Keeping and saving money with gambling sites is no different from leaving your funds or cryptocurrencies on centralized exchanges. I wouldn't want you to do that. That has got to be very dangerous approach with your funds.
Same advice gotten from cryptocurrencies can also be merged when betting in a way to manage risk's and all that matters.

Just like the recent stake happenings, what happens when you have your account and withdrawal of your funds totally locked?  You don't want that if I guess, so it would be a total dumpster moves to leave your fund on a betting and gambling site. prevention is better than cure.

[xSkylarx]

this thread reminds of me of what happened to Stake recently where they just got hacked. not sure if the coins of the users were also compromised but hopefully not after all Stake is very rich and can refund all.

but what happens if it weren't stake.com? if it was just a casino that isn't very well known and only a few thousand in their budget for refunds then you lost your coins as if you are scammed.

Well, there is no impact on the stake users as Stake being the huge gambling casino, has already compensated the affected users but again this does not mean that we use the gambling sites as wallets and save our money on those sites.

You should only deposit the amount with which you want to gamble and the rest amount should be in your personal wallet and on the centralized casino sites. Even your money should not be in any centralized sites including the trading platforms or the online wallet sites that do not give access to your private keys.

Casinos are not where we store our money even right now on those exchanges we intend to store our assets there, but we refrain from doing so because we don't have full control over them. How much more so in casinos where it is a playground of gambling?
 
No matter what the reason don't store any money at the casino, it is better to cash it out and store it under your bed. Mostly the reason for this is that you don't have complete control over your money and anything can happen to it.

[mamesso]

You can save money wherever you want, but the question is why should you save it there? There is no guarantee that a betting account or gambling site can be accessed forever, what if their website suddenly cannot be accessed, of course your money that is there will disappear in an instant.
You have to realize how difficult it is to earn money, the fatigue and time spent just to collect money. Choose a storage location that you can control. If the money you mean comes from winnings after you bet, immediately withdraw it all to save it somewhere else where you can maintain a level of security. You have to manage your money well to prevent risks that might occur.

[Japinat]

Assuming you are not fan of Bitcoin, saving your money in the bank still the best option than saving your money anywhere. The bank is insured so if there is a mismanagement of funds that leads to a shutdown of the bank you get your money back and in full. And you can even sue them if they refused to give you your money. A casino can shut down today and disappear without a trace. You can't take them to court. No one will be held responsible aside from you.

Exactly! I mean, why would someone want to keep their money in a casino? What's the point? People are so busy doing the opposite thing because they don't trust casinos with their money and then I find something like this that casino can also be a vault. It's ridiculous, nobody in the right mind would do such careless things as it's like you're just giving your money away.

[gunhell16]

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.

I don't know why did think of this thing? but after reading this topic you made, you showed that it's good to make a crypto gambling platform like a bank to hide money, right? You know, if I have money to hide because I don't want to keep money in the bank, of course it's here in the cryptocurrency business with non-custodial wallets or hardware wallet.

Now, if you put money in the gambling casino here in the crypto space, it is up to you to choose. But for me, that's not a smart way; rather, that's a stupid decision that a gambler would make. Sorry for the term I used. Why? I have read a lot of people on this forum who complained that they could not withdraw the money they have from the casino platform here in the crypto space, and most of the people who complained that their accounts were banned or locked, which is no different from banks in that they can close or hold your account without telling you anything even though they have a license to operate gambling.