Understanding the Emergence of Crypto Gambling

[Lida93]

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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.

Talking of the middleman, it is a true fact that crypto casino has completely eliminated his involvement in the transaction process in online gambling.

 But on the notion of fast and cheaper transactions I probably be sitting on the fence about that because I do make use of crypto casinos, and also with a couple of fiat/traditional gambling platforms  (I choose not to give a name) that are with fast and moderately cheap transaction just as crypto casinos. So If we're to deeply delve in on the issue of cheap transaction I don't think crypto casinos are really  winning in that aspect  in as much as mempool congestion issues are bound to perpetually happen.

[mr_random]

Crypto and gambling are a perfect match due to the demand for privacy, transparency, and speed. Key benefits of crypto over traditional platforms include KYC regulations and provably fair games. The trend is further fueled by lower fees and faster transactions with cryptocurrency. Clearly, crypto gambling is here to stay and will likely transform the industry significantly. With more people adopting crypto and seeking safe gambling options, the future of crypto gambling looks promising. Anonymity, speed, and provable fairness are exactly what many gamblers desire. KYC requirements can be a hassle, but crypto gives players more control. Provably fair games are also a major advantage, eliminating any doubts about fairness. How traditional casinos gonna respond – adapt or fall behind,  just matter of time they have to match the requirements to stay alive in the industry. Crypto is revolutionizing the gambling world slowly.

[ethereumhunter]

The success of online gambling can not be complete without mentioning the role COVID-19 lockdown plays in forcing wider adoption of online casinos because their where the only available option when physical casinos was locked down because of COVID-19 social distancing laws, and also not forgetting to mentioned the greater role cryptocurrencies plays in making payments easy for both the platform and it players since financial institutions where locked and keyed during the lockdown.

I also agree with this part, but it was not just online casinos but other online gambling platforms adoption raised to the highest level during the COVID time.

There were only a few popular casinos before the COVID-19, but during the lockdown data shows that there was mass adoption of the online casino and enough revenue that those casino operators gained from the gamblers, which needed other competitors to come to the game. With better offers and promotions, COVID was not a good thing, but still, there were a lot of people who turned that into a golden opportunity, and the casino operators were one of them.

When Covid-19 attack to many countries, that will be the time for online gambling platforms takes their position to grow as many people can't go to anywhere easily. Many people gets lockdown because of the rules of their government and makes them doing many activities by online. The online casino sees that as an opportunity to promotes their sites in many sites as their developments grows and becomes popular among the people.

The lockdown that happens to many countries gives a big chance for online casino to invites many gamblers as those gamblers can't go to the local casino. They used online gambling to continue their gambling activity and that's why online casino become more popular and have many members. Even if online casino re-open their business now, online casino still takes its position and still have many members that visits that casino regularly.

[Dr.Bitcoin_Strange]

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.

Yes, it actually tried to provide the solution of privacy security, but things didn't go in that direction straight forward because this time around, online casinos are requesting KYC details, which are details that  accurately describe who the gambler is, just as you said. Another thing to note is the use of a centralized exchange to sell your crypto. For example, if you luckily gamble at a casino that doesn't request KYC, after you have withdrawn to a CEX, you will have to pass KYC on that exchange to be able to sell your coin. So, the privacy of an individual is still not too private. 

[retreat]

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.

I personally don't really have a problem giving my identity to the casino platform that I play on, because it's just an identity and I'm not so rich or a powerful person that my identity has to be kept tightly hidden - as long as the casino platform protects my identity, then I won't object to performing KYC on their platform. My own reason for using a crypto casino is more about the ease of withdrawing and depositing into an account, because you only need to deposit to the address they provide or include your crypto wallet to withdraw, and all of that is processed quite quickly. There is no feature that users want more than fast and easy deposits or withdrawals.

[Porfirii]

Crypto and gambling are a perfect match due to the demand for privacy, transparency, and speed. Key benefits of crypto over traditional platforms include KYC regulations and provably fair games. The trend is further fueled by lower fees and faster transactions with cryptocurrency. Clearly, crypto gambling is here to stay and will likely transform the industry significantly. With more people adopting crypto and seeking safe gambling options, the future of crypto gambling looks promising. Anonymity, speed, and provable fairness are exactly what many gamblers desire. KYC requirements can be a hassle, but crypto gives players more control. Provably fair games are also a major advantage, eliminating any doubts about fairness. How traditional casinos gonna respond – adapt or fall behind,  just matter of time they have to match the requirements to stay alive in the industry. Crypto is revolutionizing the gambling world slowly.

And not only the gambling world, but it is true that this is one of the most obvious use cases for crypto. Rather than giving your bank details or your credit card info, if you hold a few sats you can send them seamlessly between wallets and services. If your info was leaked because any of these platforms/services was attacked, I think that you'd be less exposed to phishing and the like.

[topbitcoin]

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.

I don't think so, there are still certain restrictions for you to not do KYC but still be able to do gambling activities without having to do KYC. At Stake is one of them, I still don't do KYC but I can still gamble safely and my privacy is still maintained to this day.

In the beginning maybe we like crypto gambling because it's privacy and we can do gambling activities without being harassed by anyone, that's where I feel safe and maybe to this day, that's why I keep from not depositing more than the specified limit so that I still maintain my privacy, maybe when I use bigger money and my VIP level rises faster of course I have to do KYC too.

Telegram crypto casino? I've never heard of it, is it fun like using a website? especially the security that you yourself still doubt about the casino, maybe I personally will also be more doubtful than you, I can still use some web3 casinos that can still be said to be decentralized casinos or without doing KYC to play there, so what can be made by taking risks on a platform that many people still use.

[Forsyth Jones]

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.

One of the benefits of crypto casinos is that they can easily invade government influence and regulations. These casinos don't need a license to operate. But they just need it to show bettors that they a legitimate and operate under some form of control. They don't need to register in all the country they operate just like traditional casinos.

Before now, some casinos didn't care about KYC, but currently, the majority of these casinos demand personal information. Even if they don't ask for it during registration it will surely be a requirement during withdrawals..

Crypto gamblers are not really anonymous, especially if they require KYC. Gamblers can be easily traced in the Blockchain.

Other cryptocurrencies can be said to have cheap transactions fees. But the recent congestion of the mempool by ordinals has made Bitcoin transactions very high. With this traditional gambling platforms could be said to be cheaper.

One of the great advantages of crypto casinos is that most operate in dollars, so if I'm from a country where the currency is weak, if I win bets at that casino, I'll be taking advantage of the ability to withdraw crypto based on the value of the dollar.

Certainly governments can't see a good branch emerging that it is eager to ruin a little, making the business less viable than before.

I believe that if bitcoin continues to be frequently congested due to bull run times, coins with transaction fees like LTC, Doge etc will become more prevalent in these casinos. I think this is cool, as the market is a self-regulating mechanism.

[Wapfika]

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.

I personally don't really have a problem giving my identity to the casino platform that I play on, because it's just an identity and I'm not so rich or a powerful person that my identity has to be kept tightly hidden - as long as the casino platform protects my identity, then I won't object to performing KYC on their platform. My own reason for using a crypto casino is more about the ease of withdrawing and depositing into an account, because you only need to deposit to the address they provide or include your crypto wallet to withdraw, and all of that is processed quite quickly. There is no feature that users want more than fast and easy deposits or withdrawals.

First of all, Even crypto casino now requires KYC but some casino just requires this indefinite time but they literally requires it which means you can’t really play anonymously due to their license compliance for AML.

Second, You should value your identity no matter what is your financial standing in life. Regardless if you are poor, Your identity is the only treasure you can treasure since it’s you. You might encounter in the future if ever your KYC landed on wrong person which use it on illegal activities. All the punishments will go to you since it’s your identity.

[YOSHIE]

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

That's the life of the world and humans, in the past people gambled secretly or went to casinos to gamble, now with technology that has been created by super sophisticated humans, People no longer have to carry out activities like in the 90s, people just open their Android/laptop and connect to the internet. Everything can be accessed according to what you want.

I am sure that with the presence of technology like today, in the future online crypto casinos will implement the best innovations for their users, you can imagine the effect of current technology, Minors are smarter at gambling than adults, on the contrary, adults ask minors to teach them how to gamble, how to operate, this is a shame, I agree with current technological advances in the field of gambling, but the effects of misuse of this technology I feel sorry for society.

Technology is good, sometimes those who use it are not good. I hope that in the future the gambling industry will really implement KYC as fully as possible, meaning that this gambling industry will really set rules that are truly efficient for its users.

[Blitzboy]

KYC restrictions, for instance. They're annoying, slowing things down and asking too many questions. Crypto is different. Privacy is something we all value. Remember fairness. Traditional casinos are known for their trickery. Crypto casinos put everything on the blockchain for everyone to see. Transparent, fair, and the future of gambling. Whether you're a pro or a beginner, try crypto gaming. It's a game-changer, and early investors benefit most. Fortune favors the adventurous, and crypto's new universe offers many options.

[South Park]

First of all, Even crypto casino now requires KYC but some casino just requires this indefinite time but they literally requires it which means you can’t really play anonymously due to their license compliance for AML.

Second, You should value your identity no matter what is your financial standing in life. Regardless if you are poor, Your identity is the only treasure you can treasure since it’s you. You might encounter in the future if ever your KYC landed on wrong person which use it on illegal activities. All the punishments will go to you since it’s your identity.

While it is unfortunate that cryptocurrency casinos are now more strict on the application of KYC policies, at the same time we cannot really blame them, to begin with they are being forced by governments to do so, and since this market has become quite big, now we are receiving more attention than ever, something that will only get worse as this market keeps growing and getting more powerful, however it is still sad to see that one of the main selling points of cryptocurrency casinos has disappeared already.

[AmoreJaz]

First of all, Even crypto casino now requires KYC but some casino just requires this indefinite time but they literally requires it which means you can’t really play anonymously due to their license compliance for AML.

Second, You should value your identity no matter what is your financial standing in life. Regardless if you are poor, Your identity is the only treasure you can treasure since it’s you. You might encounter in the future if ever your KYC landed on wrong person which use it on illegal activities. All the punishments will go to you since it’s your identity.

While it is unfortunate that cryptocurrency casinos are now more strict on the application of KYC policies, at the same time we cannot really blame them, to begin with they are being forced by governments to do so, and since this market has become quite big, now we are receiving more attention than ever, something that will only get worse as this market keeps growing and getting more powerful, however it is still sad to see that one of the main selling points of cryptocurrency casinos has disappeared already.

Owed to complying with government's regulations, online crypto gambling needs to get their license in order to operate a legit business. Hence, they have no choice but implement the AML/KYC to their clients. However, in most casinos, they will only require you to submit KYC if you exceed their limit of accumulated deposit/withdrawal of $2k or 2k Eur. It depends on their license. This, I believe, we need to accept the fact that we are already in this age of regulation. We can't eradicate such protocol in order for them to survive in this business.

[Yatsan]

Crypto and gambling are a perfect match due to the demand for privacy, transparency, and speed. Key benefits of crypto over traditional platforms include KYC regulations and provably fair games. The trend is further fueled by lower fees and faster transactions with cryptocurrency. Clearly, crypto gambling is here to stay and will likely transform the industry significantly. With more people adopting crypto and seeking safe gambling options, the future of crypto gambling looks promising. Anonymity, speed, and provable fairness are exactly what many gamblers desire. KYC requirements can be a hassle, but crypto gives players more control. Provably fair games are also a major advantage, eliminating any doubts about fairness. How traditional casinos gonna respond – adapt or fall behind,  just matter of time they have to match the requirements to stay alive in the industry. Crypto is revolutionizing the gambling world slowly.

The concept is supposed to be what's mentioned above however there are still inconsistencies to be worked afterwards for this industry in general. First is with KYV wherein even in web 3 platforms, it is evident and I have nothing against it, personally. But of course those who prefers not to comply are also making valid actions simply because that is their preference. With faster and cheaper transaction fees, it is still hard to aappreciate at the present 'coz as we all know there are only times wherein this actually happens. But this is not to create negative impression on web 3 gambling industry. There are still room for improvement and that is what I am looking forward with. I still do cross from fiat based to web 3 and vice versa and I cannot see anything wrong with it.

Given how new this industry is, we cannot expect it to immediately meet our expectations early. What's more to focus with is you gambling habits and betting behavior to avoid addiction no matter what platform you are using.

[teamsherry]

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.

Yoir right crypto has helped innovate thigns a little, not only has privacy been increased but problems of funding your account from anywhere in the world that crypto is not banned you can do that seamlessly and easily without having to worri about bank networks or all those headaches.

[EarnOnVictor]

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.

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.

Thank you for at least putting a few pieces down for people to understand and appreciate cryptocurrency and its relationship with betting. But still, these are not without some faults, although it is obvious that you are trying to appraise the crypto-casinos but we should not misplace facts by doing so.

To avoid writing an epistle, let me take it one after the other but in a summary note;

1. KYC/Regulation: This was particularly true when crypto casino was newly introduced and it was even partly introduced for that purpose. But regulation has taken over now, so I do not see how this makes it better than fiat in this regard. And if you say that some casinos are still providing a no-KYC service, a few fiat casinos are doing that too. So what?

2. Casino Game Fairness: This is not unique as it is not peculiar to crypto casinos, fiat casinos are providing provably fair service as well.

2. Fast and Cheap Transactions: Well, this is a good remark and it is so true if it is a cross-border deposit we are looking at. But if it is a local casino we are dealing with, a local bank transfer is the fastest and cheapest and it's in fiat.

However, this is not to counter or antagonise you but just remarks to prove that those statements are not just unique to crypto-casino since fiat services can also do them.

[michellee]

Blockchain technology has become popular, like Internet technology, which was first introduced. It is possible that Blockchain technology will accompany our daily lives in the future. We have seen it happen in the gambling industry, where there are now many crypto casinos that provide facilities for people to use crypto to gamble.

Crypto casinos provide anonymous terms to gamblers so they don't have to reveal who they are when they gamble. Although in recent years, crypto casinos have asked their users to carry out KYC, that won't stop other crypto casinos from still providing anonymity facilities to their users.

When playing gambling, we also have to think that gambling is entertainment and not a place to make money. When we just want to gamble, we are just enjoying our free time, and casinos still allow us to gamble anonymously. What's interesting about using this crypto casino is that we can use various crypto coins provided by the crypto casino.

[goaldigger]

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.

Yoir right crypto has helped innovate thigns a little, not only has privacy been increased but problems of funding your account from anywhere in the world that crypto is not banned you can do that seamlessly and easily without having to worri about bank networks or all those headaches.

Also, you can access crypto casinos every where in your country as long as it is accepted and you're allowed to.
Crypto gambling change the game of online gambling and seriously, many are into crypto gambling for the purpose of anonymity and they don't have to prove anything with regards to their accounts unlike in bank that you need to explain where you get the money and most of the banks online are not allowing deposits from a casinos.

[Awaklara]

Blockchain technology has become popular, like Internet technology, which was first introduced. It is possible that Blockchain technology will accompany our daily lives in the future. We have seen it happen in the gambling industry, where there are now many crypto casinos that provide facilities for people to use crypto to gamble.

Crypto casinos provide anonymous terms to gamblers so they don't have to reveal who they are when they gamble. Although in recent years, crypto casinos have asked their users to carry out KYC, that won't stop other crypto casinos from still providing anonymity facilities to their users.

When playing gambling, we also have to think that gambling is entertainment and not a place to make money. When we just want to gamble, we are just enjoying our free time, and casinos still allow us to gamble anonymously. What's interesting about using this crypto casino is that we can use various crypto coins provided by the crypto casino.

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.

[Saint-loup]

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. So they can operate on every blockchain using smart contract actually, especially on EVM-compatible blockchain usually and/or Layer 2 networks to remain fast and cheap, because all is done through blockchain or network transactions.