Understanding the Emergence of Crypto Gambling

[LUCKMCFLY]

Greediness is nothing compared to addiction ss a disaster, greed is just a tendency and might nit always be the case or the reason behind loss, but addiction is worse cause you are always in a situation where you can act Greedily every day and end up ruin yourself.

Yes, there is a great point there, I personally think that both things are very destructive, that is why we as players if we had a little more control we would only control the money and every time you win in a casino even if it is little money then you have to withdraw that money to feel it, to touch it, of course this is my recommendation, everyone is the owner of the decision what they can do, but in general terms if a person continues it is because they can improve and avoid what is greed and addiction, because for many this is boring and not very fun, but it is much better that things can be done that way.

[Slow death]

With the emergence of cryptocurrencies, people started paying more attention to cryptocurrencies due to the high volatility they offer and as many people bought cryptocurrencies to do hodl or trade, crypto casinos emerged that offered something that fiat casinos could not afford. to offer, which was anonymity and privacy. people felt more comfortable playing in crypto casinos than playing in fiat casinos, so the crypto casino market grew and to this day continues to grow even though they are forced to have a license and require kyc from their customers. There is no doubt that the creation of bitcoin has brought benefits to many things

What I like about crypto gambling is the privacy since we don't need to provide personal details like debit and credit cards payment do or even fiat. Crypto value our privacy as a bettor but the only thing here is that when we create accounts on gambling platforms I think that will always require KYC. Fully decentralized casinos are I think telegram casinos though I haven't tried one yet but some say it is risky as well.

No fully decentralized casinos are not only casinos on telegram. It concerns Web3 casinos where you can gamble without registering an account. Directly with your wallet through smart contracts

Looking at how governments have taken this issue about money laundering and KYC very seriously, I prefer to stay far away from these decentralized casinos that do not ask for KYC and that offer anonymity because sooner or later governments will seize all decentralized casinos because they operate without a license and don't ask for kyc, they will soon be accused of money laundering by governments

[tread93]

Once in a great while, an innovative technology will emerge that changes the course of human history. In the late 1990s and early 2000s, the Internet was so powerful that it changed how the world communicated and worked.

Blockchain technology and cryptocurrencies can be a powerful change like the Internet. When it comes to crypto gambling, change is happening rapidly. Keep reading to understand the emergence of crypto gambling, why it came into existence and how it can continue to alter the sports betting and casino gaming industries.

The Intersection of Crypto and Casino
Crypto Gambling Provides What Bettors Seek
If gambling cryptocurrencies didn’t give sports bettors and casino gamers what they wanted, it wouldn’t exist. See below for the things that make crypto betting the choice among professional gamblers.

Crypto Betting Strikes Down Stringent KYC (Know Your Customer) Regulations
KYC regulations are rampant in the online sports betting the industry. The reason is that often when we play on a traditional online sportsbook we must fund our accounts via ACH or credit card.

All crypto transactions are recorded on blockchains. The transactions are there for everybody to see, but they don’t provide details regarding the transactions. This keeps gamblers anonymous for the most part. Anonymity and privacy are two things all casino and sports bettors crave.

Casino Game Fairness
Although it’s impossible for blockchain technology to help provide live sporting event fairness, if the ref blows a call, only replay can overturn it, blockchain tech does provide casino fairness. By fairness, we mean crypto casino games provide provably fair mechanisms. In other words, when casino players bet on crypto platforms, the players can prove that the outcomes are fair. This is untrue when we play on a traditional online casino platform.

Fast and Cheap Transactions
Cutting out the middle man, i.e., the credit card company, to fund our betting accounts allows for faster and cheaper transactions. Many crypto platforms, Nitrobetting.eu as an example, allow for diverse types of cryptocurrency funding.

BTC remains an option. But so does ETH, or Ethereum, and LTC, or Litecoin. Funding with Ethereum or Litecoin is much quicker due to both Ethereum’s and Litecoin’s consensus processes.

Read more→ https://nitrobetting.eu/guides/understanding-emergence-crypto-gambling/

Great post, I think for the most part you are really on to something there with the psychological explanaition for why crypto betting is percieved to be better to gamblers, but I think that KYC and regulations are looming for crypto casinos and its only a matter of time until governments start cracking down due to the very lack of KYC and AML policies. Crypto gambling is no doubt changing the game though, definitely in a good way!

[michellee]

It is also because of the increasingly popular development of crypto that finally the crypto casino industry is also experiencing large growth.
I am also one of the non-crypto online gamblers who finally switched to crypto casinos. Apart from that, I also use crypto which can be staked. Another reason is that the asset control that I can do well in gambling keeps me from losing control in betting.
different from online casinos with fiat. I have had bad experiences with all of them. we know how easy online transactions are, with a device in hand everything can be done easily. Fiat casino gambling is very easy to use up all the money in our bank account.

Crypto casinos have now found a place for gamblers who want to gamble online. They can hide their gambling activities at online crypto casinos from other people. As more and more people gamble at crypto casinos, they are finding a different experience.

When gambling at a crypto casino, you have to be careful because not all crypto casinos can provide a good experience. You have chosen a crypto casino that can provide staking facilities so you can get other benefits. This allows you to get returns in tokens or other crypto in addition to gambling.

In the future, these crypto casinos will grow even more rapidly. Moreover, technological developments will also improve. That will support crypto casinos' becoming more popular, and crypto will also become more popular.

[bluebit25]

Our process of changing and adapting to all kinds of different fields including gambling, I read stories about history or through movies about gambling in history, it is like an entertaining game and gradually transforms under human use. I remember the stories my grandfather used to share about gambling through the Mahjong,... well almost everyone knows how to play it and the process of change reaches the decks of cards and there are many different games based on it, then comes the casino time, then the process online gambling,.... and it can also be speculated that in the future we will also witness many forms of play where the chance of gambling is present in change. I asked a certain project to share about the form of VR combined with gambling, perhaps it is a smart idea for the ongoing technological change.

[Julien_Olynpic]

Cryptocasino and bookmaker organizations have a lot of things that you need to strive for and what else needs to be introduced. Firstly, to refuse the COS, but for this you need to pay all the winnings in cryptocurrency. Secondly, pay all the winnings, even long-term-per-income players in sports bets. You know that in my country, not all bookmakers pay winnings. It often happens that if a person starts often and win a lot, then an account is blocked. We need to get away from this practice. This will benefit the entire industry.

[Saint-loup]

Looking at how governments have taken this issue about money laundering and KYC very seriously, I prefer to stay far away from these decentralized casinos that do not ask for KYC and that offer anonymity because sooner or later governments will seize all decentralized casinos because they operate without a license and don't ask for kyc, they will soon be accused of money laundering by governments

What else? They could seize them or shutdown them, what will happen? Unlike centalized casinos, decentralized/web3 ones are non-custodial. It means you don't need to deposit a bankroll in order to play. Your funds stay into your wallet, and the stakes you play are sent into a smart contract. So even if authorities manage to block them you would only lose funds in play at most.

[AmoreJaz]

Our process of changing and adapting to all kinds of different fields including gambling, I read stories about history or through movies about gambling in history, it is like an entertaining game and gradually transforms under human use. I remember the stories my grandfather used to share about gambling through the Mahjong,... well almost everyone knows how to play it and the process of change reaches the decks of cards and there are many different games based on it, then comes the casino time, then the process online gambling,.... and it can also be speculated that in the future we will also witness many forms of play where the chance of gambling is present in change. I asked a certain project to share about the form of VR combined with gambling, perhaps it is a smart idea for the ongoing technological change.

I guess that's the next big thing in gambling industry - the rise of VR as we are already in this digital age. It is only a matter of time before the VR thing goes to mainstream. As of now, only few can afford such tech because it is expensive. But sooner or later, this tech will also become economical and so a lot will find it affordable to use in their games.

Do remember, when crypto gambling was just at its early stages, only small number of users were playing. And now, if you have seen this forum alone, a lot of  crypto casinos and bookies are already existing. It means, this type of business is growing and so the demand is increasing.