Difference between crypto gamblers - regular gamblers

[alani123]

Throughout my years using cryptocurrency I've noticed that there are some differences between people that use crypto and those that might not. People using crypto are usually more aware of little details, they seek out to have more privacy and better sources of information. So that followed suit when it came for crypto to meet gambling as well.

It was crypto casinos that popularized the notion of provably fair gambling, and now the world had access to a technology that could undeniably prove the randomness of each bet. Regular online casinos to this day avoid using this technology, and gamblers that are not aware of crypto's perks rarely ever inquire about it. This is yet another good example of a difference between crypto gamblers and regular gamblers.

Overall I think that crypto gamblers are more likely to make more educated decisions with how they handle their money overall, while regular gamblers will be easily tricked by old tricks such as deceptive bonuses in casinos and similar tricks and regular gamblers will also more easily fall victim to their own psychological tricks such as being carried away and try to bet more to win your losses etc. What are your thoughts? Have you experienced something similar?

[TopTort777]

Throughout my years using cryptocurrency I've noticed that there are some differences between people that use crypto and those that might not. People using crypto are usually more aware of little details

I have noticed opposite difference. People who gamble with crypto are more careless than people who gamble with fiat. And I think I have an explanation for that. Crypto gamblers are under influence "easy come easy go". All people who gamble, convert unintentionally their bets with their national currency and salary. So their 1 dollar bet always be equal to 1 dollar. People who bet crypto care less on an outcome because, lets say the difference in currency prices in the past and todays price let them feel more free. For example a guy who has bought 1 BTC when the price was 5k, will easily place a 0.1 BTC bet when Bitcoin price is 69k, because he will still have 62k worth asset. But the guy who will make a 6900 bucks worth bet will think twice before doing it.

[Jawhead999]

I don't think you can make such generalize, I'm sure you think gamblers are more aware with provably fair, how to verify their bets, read TOS, due your own diligence, gamble for fun etc, it's because you're read people posts in this forum. While gamblers that using crypto aren't only in this forum, you need to look or ask those gamblers and you will know if there's nothing difference with crypto gambler and fiat gambler.

Similar like there are many people who care with their privacy and choose to trade through no KYC P2P or DEX in this forum. But the bigger picture, most of people who own crypto prefer to trade through CEX.

[Rruchi man]

It does not require any knowledge to own fiat, so it can easily be used to gamble by anyone who owns it. Due to this randomness, some of the people who gamble with fiat care less about privacy or how fair the gambling platform they play on is, but knowledge about cryptocurrency is required before you can gamble with crypto because you need to know where you can buy bitcoins, and how to move crypto from wallet to gambling platform, and then from gambling platform back to wallet if there is a win.

Things like privacy and safety have always been regular concerns for people that invest in cryptocurrency, so that awareness is extended to gambling with it.

[alani123]

Throughout my years using cryptocurrency I've noticed that there are some differences between people that use crypto and those that might not. People using crypto are usually more aware of little details

I have noticed opposite difference. People who gamble with crypto are more careless than people who gamble with fiat. And I think I have an explanation for that. Crypto gamblers are under influence "easy come easy go". All people who gamble, convert unintentionally their bets with their national currency and salary. So their 1 dollar bet always be equal to 1 dollar. People who bet crypto care less on an outcome because, lets say the difference in currency prices in the past and todays price let them feel more free. For example a guy who has bought 1 BTC when the price was 5k, will easily place a 0.1 BTC bet when Bitcoin price is 69k, because he will still have 62k worth asset. But the guy who will make a 6900 bucks worth bet will think twice before doing it.

Well for sure there are outliers in both categories. The thing with crypto casinos is that they have some unique features, one is accepting bets that are sometimes much larger than the limits on traditional ones. The other is that many crypto casinos display bets publicly (without showing who made it) so that makes it very easy to see what kind of bets are made and how large. Of course with crypto casinos making it easy for anyone to make large bets, and for anyone to track this activity we've seen some ridiculous bets take place.

However, I'd say that this is by far more common in regular gambling. If you look at the gambling statistics of Nigeria for example, regardless of the fact that they are a country where poverty is rampant, there's huge value being risked on bets. This means that many people there gamble even with what they can't afford to lose. I think this is just not as common with regulars that gamble in crypto.

[Oshosondy]

Throughout my years using cryptocurrency I've noticed that there are some differences between people that use crypto and those that might not. People using crypto are usually more aware of little details, they seek out to have more privacy and better sources of information. So that followed suit when it came for crypto to meet gambling as well.

What privacy when the gambling sites gamblers are gambling are requesting for KYC verification documents from their customers.

It was crypto casinos that popularized the notion of provably fair gambling, and now the world had access to a technology that could undeniably prove the randomness of each bet. Regular online casinos to this day avoid using this technology, and gamblers that are not aware of crypto's perks rarely ever inquire about it. This is yet another good example of a difference between crypto gamblers and regular gamblers.

The difference between crypto and fiat gambling sites is just that you will use fiat to deposit and withdraw on fiat casinos, while using cryptocurrencies as deposit and withdraw on crypto gambling sites.

Overall I think that crypto gamblers are more likely to make more educated decisions with how they handle their money overall, while regular gamblers will be easily tricked by old tricks such as deceptive bonuses in casinos and similar tricks and regular gamblers will also more easily fall victim to their own psychological tricks such as being carried away and try to bet more to win your losses etc.

More crypto gamblers may be educated but not the type of education that will let them win than non educated people. Anyone can lose while gambling.

[Odohu]

Throughout my years using cryptocurrency I've noticed that there are some differences between people that use crypto and those that might not. People using crypto are usually more aware of little details, they seek out to have more privacy and better sources of information. So that followed suit when it came for crypto to meet gambling as well.

I can attest to this and from my personal experience, crypto gambling is more of a different ball game. Recently, I have been using more of crypto platform in my gambling and I can already confirm the difference. Apart from the comfort the deposit and withdrawal method offers, I'm also enjoying the psychological improvement I experience using cryptocurrency.  For instance, I pay more attention to details, check my risk exposure and try my best to control greed level.

I have the feeling that in the near future, the competion will be fierce that conventional casinos will adopt crypto in other to remain in business.

[slapper]

Your point of view is wise, and it fits with the critical thinking that cryptocurrency has given its users. It is a fact that crypto users are often smarter than most people, especially when it comes to privacy and finding reliable sources of information. Crypto casinos are true to this spirit; they were the first to offer provably fair gambling, which gives players a level of honesty and security that has never been seen before. This is very different from standard online casinos, which still dont use this cutting edge technology.

Supporting Bitcoin is, in fact, a statement that you are committed to being smart with your money. Regular gamblers often fall for simple tricks, like not paying attention to offers that seem too good to be true and getting stuck in the mental trap of trying to win back losses. People who play with crypto avoid these problems because they know better. So, not only is your question relevant, it also gives us a great look into the minds of two different types of players.

[rachael9385]

For a gambler to use crypto to gamble, that means the gambler is risking more than he/she is supposed to risk. How? First of all, imagine when you use your hard earned money to buy some Bitcoin (about 2 BTC) and you used 1 BTC to gamble then you lose the bet, and lastly the 1 BTC you used to gamble today turns 3 BTC (if Bitcoin price skyrocket) in future, it will hort more than just losing some money.
Crypto gamblers are taking higher risk than the fiat currency gamblers but there are more fiat currency gamblers than the crypto gamblers.

[Wakate]

Honestly I don't see any different between a cryptocurrency gamblers and a fiat or local gamblers. A person that is a fiat or regular gambler can decided to use crypto casinos to make bet based on information they might have gotten from friends around on the benefits of using a cryptocurrency platforms to bet. Information is what different a regular gamblers like people that use fiat platform and crypto gamblers. There decision making might be similar but at the same time, I don't see any different between the two. A gambler a gambler and can decide to switch between being a crypto or fiat platforms.

[Hatchy]

Throughout my years using cryptocurrency I've noticed that there are some differences between people that use crypto and those that might not. People using crypto are usually more aware of little details, they seek out to have more privacy and better sources of information. So that followed suit when it came for crypto to meet gambling as well.

It was crypto casinos that popularized the notion of provably fair gambling, and now the world had access to a technology that could undeniably prove the randomness of each bet. Regular online casinos to this day avoid using this technology, and gamblers that are not aware of crypto's perks rarely ever inquire about it. This is yet another good example of a difference between crypto gamblers and regular gamblers.

Overall I think that crypto gamblers are more likely to make more educated decisions with how they handle their money overall, while regular gamblers will be easily tricked by old tricks such as deceptive bonuses in casinos and similar tricks and regular gamblers will also more easily fall victim to their own psychological tricks such as being carried away and try to bet more to win your losses etc. What are your thoughts? Have you experienced something similar?

I don't see any difference between crypto gambling and regular gambling because the rewards, whether in cryptocurrency or regular money, are typically valued the same. It's essentially the same kind of gambling happening in both cases. Many online casinos offer different deposit options for you to choose from. Regarding privacy, as you mentioned, I don't believe there's much. Most casinos ask users to go through a KYC verification, so it doesn't really matter what currency you use to deposit. your privacy is still affected by the KYC process they have in place.

[Ruttoshi]

I see both crypto and fiat casino as the same in terms of limiting your gambling expenses or not. An addicted gambler will still use on his money in his bankroll and keep on chasing his losses if he gambles either in a cryptocurrency casino or a fiat casino.

I can attest to this and from my personal experience, crypto gambling is more of a different ball game. Recently, I have been using more of crypto platform in my gambling and I can already confirm the difference. Apart from the comfort the deposit and withdrawal method offers, I'm also enjoying the psychological improvement I experience using cryptocurrency.  For instance, I pay more attention to details, check my risk exposure and try my best to control greed level.

I have the feeling that in the near future, the competion will be fierce that conventional casinos will adopt crypto in other to remain in business.

If we are talking about the features in a cryptocurrency casino, this depends in the country that you are because a second world country fiat online casino will likely have similar features with a cryptocurrency casino. When you are from a third world country the online casino features in your country will differ from the crypto casino because cryptocurrency casino will be more in a second world country that a third world country but you can access it from any location.

[btc_angela]

Throughout my years using cryptocurrency I've noticed that there are some differences between people that use crypto and those that might not. People using crypto are usually more aware of little details, they seek out to have more privacy and better sources of information. So that followed suit when it came for crypto to meet gambling as well.

Maybe in the beginning, this is the case, but now with the whole KYC mandated, almost all casinos now required their customers to follow KYC and so there's no more privacy for us and there's no difference whatsoever with fiat gambling system.

It was crypto casinos that popularized the notion of provably fair gambling, and now the world had access to a technology that could undeniably prove the randomness of each bet. Regular online casinos to this day avoid using this technology, and gamblers that are not aware of crypto's perks rarely ever inquire about it. This is yet another good example of a difference between crypto gamblers and regular gamblers.

I think it's just a buzzword for crypto related platform, but how many of us are checking the games that we played to say that they are provably game? I also have a hint that not everyone knows how to check it.

Overall I think that crypto gamblers are more likely to make more educated decisions with how they handle their money overall, while regular gamblers will be easily tricked by old tricks such as deceptive bonuses in casinos and similar tricks and regular gamblers will also more easily fall victim to their own psychological tricks such as being carried away and try to bet more to win your losses etc. What are your thoughts? Have you experienced something similar?

Gamblers will be gamblers though, I mean maybe the difference is that in crypto, we will check first if the platform has the reputation already and we are afraid to try new ones. But as soon as those new casinos established their trust here in our community then gamblers are going to try it to and see for themselves.

[michellee]

For now, crypto casinos have become like fiat casinos because crypto casinos also ask their users to do KYC. The difference between crypto and fiat casinos is the same, especially since regulators are still trying to supervise crypto casinos. Regulators thought that crypto casinos, with their anonymity, were becoming a place to conduct illegal activities so regulators felt they needed to start monitoring them.

The difference may be seen in the bet amount where when someone uses 1 satoshi to bet on dice or HiLo, they are using a very small amount of money when compared to fiat casinos where there is a certain minimum amount that the gambler must use. But I didn't think about the difference between crypto casinos and fiat casinos. I also don't gamble at fiat casinos and only know crypto casinos.

But we can agree that crypto gamblers will be more aware of the dangers of scamming than fiat gamblers. That's because many crypto casinos scam and deceive people. But crypto casinos and fiat casinos can both lead people to gambling addiction if they cannot control themselves.

[coin-investor]

Overall I think that crypto gamblers are more likely to make more educated decisions with how they handle their money overall, while regular gamblers will be easily tricked by old tricks such as deceptive bonuses in casinos and similar tricks and regular gamblers will also more easily fall victim to their own psychological tricks such as being carried away and try to bet more to win your losses etc. What are your thoughts? Have you experienced something similar?

Do you have data to back this, you are just assuming that it is the case and there's no study that backs up your claim whether Crypto gamblers are more educated than fiat, it still goes up to every gambler based on their character experience and situation.

Honestly, I don't see any difference some gamblers are learning and some gamblers make the same mistake over and over again.
The only thing that will differentiate gamblers are their characters and their status in life whether they are Crypto gamblers or regular drivers.

I have a lot of friends who shifted from fiat gamblers to Crypto gamblers but they remain the same nothing changes it just that they change how they fund their accounts.

[piebeyb]

Stablecoin value will remain stable but crypto will not be stable because its value can be expensive and it can be cheap, but it will be painful when you gamble with crypto and then seeing the price of that crypto in the next few years will definitely be painful, just experiencing defeat is already a loss and you will regret seeing the value rise drastically You will definitely feel defeat deeply, causing regret.

I once spent some Doge while gambling a few years ago where the price of Doge at that time was very cheap but when Elon Musk tweeted about Doge the price soared very high, if I counted all the Doge that I had bet it was enough to buy a car luxurious at the moment, since then I no longer gamble using crypto, preferring stablecoin which is easier to use. There is no difference between gambling with crypto currency or stabilcoin because both play with risk, but it all comes back to each. 

[Yogee]

[...]
Overall I think that crypto gamblers are more likely to make more educated decisions with how they handle their money overall, while regular gamblers will be easily tricked by old tricks such as deceptive bonuses in casinos and similar tricks and regular gamblers will also more easily fall victim to their own psychological tricks such as being carried away and try to bet more to win your losses etc.

You are reaching. Just because crypto gamblers value their privacy more and more aware of the provably fair system doesn't mean they are better than fiat gamblers. I would argue that those knowledge are irrelevant when it comes to handling money or managing bankroll or assessing marketing promotions of casinos.

[danherbias07]

I don't think there's such a difference between these two. They are both gamblers with a difference in using currencies. But when it comes to decision-making, it's all just the same.
I am a crypto gambler but I still always want to figure out how much dollars I am making. I mean, that's part of having knowledge if you need to walk out or keep on playing to add more to the profits before withdrawal so that you can maximize what you will spend in one transaction fee.
7k in satoshis for Bitcoin withdrawals. That's over $2 if I am not mistaken or as it is valued at the time of this posting. Who will withdraw 10k satoshis and pay 7k satoshis? I don't think there will be one crypto gambler who will do that.

Regarding the way of thinking when they gamble, I think both can also be greedy and would also take high risks when they are chasing losses. The only difference is if one has discipline and a responsible gambler while the other is not.

[Yatsan]

Other than payment method, I guess it is risk tolerance. Crypto gamblers are not only embracing the risk of losing with their bet but also with the value of their chosen token to bet with; btc and others. Imagine losing with your bet and a sudden dump with the price of your token holding. This is also the possible reason why there are still gamblers who are not into cryptogambling aside from the potential inconvenience of funds being stucked to the platform itself. Regardless of this, we as gamblers has our freedom where to play at our preference.

[cabron]

The difference is that crypto gamblers are also crypto traders while the gamblers using fiat are pure gamblers. Most of those guys have been gambling for more than 10 years, long before crypto was created, they were already betting on casinos and sports.

Crypto gamblers most if not all only learned to gamble because cryptocurrency projects are trying to find ways for the utility of the tokens/coins thus the introduction of crypto casinos.