Gambling with stablecoins, Fiat, or crypto?

[TastyChillySauce00]

Furthermore, according to those that are into crypto gambling that the of a person use USDT to gamble that is even more profitable then using a Normal currency, but they said that why get advantage also get disadvantages so the reason why some people didn’t have interesting on crypto gamble is that is due how the congestion is come across at times.

I think congestion is no longer a problem when we're using stable token to gamble. I found many gambling sites that support L2 blockchains, like Stake. They are adding support for various scalable blockchains, like Polygon and BSC. This helps us avoid the downsides of a native blockchain when it gets congested due to high traffic.

It doesn't even make sense to use the congestion as a reason why people have no interest to gamble.

[ethereumhunter]

I have no real preference but looking at my transaction history on various sportsbooks tells me that I favour using USDT. I think this is probably due to quick confirmations when depositing and also the fact that it’s a stablecoin so I’m not going to get screwed if crypto dumps 20% because of some random FUD.

I still use fiat bookies sometimes though so that’s obviously fiat. I don’t gamble very often at all with the likes of Bitcoin or Ethereum.

At the end of the day, whatever money type you use to spend it doesn't really matter.

What matters is what type of money or wealth you use to save money.

Bitcoin for example is a nice asset, or you could also save in a house, etc.

But it doesn't matter what money you use to spend, because it's all changed to the current value when you spend it anyway.

We will use any currency that we think gives convenience so we don't have to worry if there are any fluctuation for example that will happen. But if we don't mind with the fluctuation with Bitcoin or Ethereum, we will still use that especially if we have many Bitcoin or Ethereum. Using fiat currency or stable coins gives benefit to gamblers because they don't have to thinks about the ups and downs of the price. The important thing is we can accept whatever we will get from gambling no matter if that currency is stable coin, Bitcoin, Ethereum, or other coins. For those who only have small amount of Bitcoin or Ethereum or other coins, they will not use it for playing gambling instead just save it and sell it when the price increases.

[sompitonov]

I have no real preference but looking at my transaction history on various sportsbooks tells me that I favour using USDT. I think this is probably due to quick confirmations when depositing and also the fact that it’s a stablecoin so I’m not going to get screwed if crypto dumps 20% because of some random FUD.

I still use fiat bookies sometimes though so that’s obviously fiat. I don’t gamble very often at all with the likes of Bitcoin or Ethereum.

At the end of the day, whatever money type you use to spend it doesn't really matter.

What matters is what type of money or wealth you use to save money.

Bitcoin for example is a nice asset, or you could also save in a house, etc.

But it doesn't matter what money you use to spend, because it's all changed to the current value when you spend it anyway.

We will use any currency that we think gives convenience so we don't have to worry if there are any fluctuation for example that will happen. But if we don't mind with the fluctuation with Bitcoin or Ethereum, we will still use that especially if we have many Bitcoin or Ethereum. Using fiat currency or stable coins gives benefit to gamblers because they don't have to thinks about the ups and downs of the price. The important thing is we can accept whatever we will get from gambling no matter if that currency is stable coin, Bitcoin, Ethereum, or other coins. For those who only have small amount of Bitcoin or Ethereum or other coins, they will not use it for playing gambling instead just save it and sell it when the price increases.

To be honest, I don't even understand how players can bet their bitcoin, because it has deflationary properties as an asset. This means that it will most likely grow over time, roughly speaking, we could bet more stablecoins in a year than today, so why bet today? Of course, many players will object to me that they want to play here and now, but in this case it is better to bet stablecoins, because we will be able to understand our result after several games. With bitcoin, this will be difficult to do, because it is not clear how to calculate its price, by current values ​​or by those that we bet a year ago. In short, if we bet bitcoins, we simply will not be able to adequately analyze our game.

[nullama]

~snip~
To be honest, I don't even understand how players can bet their bitcoin, because it has deflationary properties as an asset. This means that it will most likely grow over time, roughly speaking, we could bet more stablecoins in a year than today, so why bet today? Of course, many players will object to me that they want to play here and now, but in this case it is better to bet stablecoins, because we will be able to understand our result after several games. With bitcoin, this will be difficult to do, because it is not clear how to calculate its price, by current values ​​or by those that we bet a year ago. In short, if we bet bitcoins, we simply will not be able to adequately analyze our game.

I think it is simply because people expect that they will end up with more Bitcoin in the end...

But it is quite clear that the gambling odds are against the gambler, and the casinos are the ones keeping all that Bitcoin.

It's a bit similar to when people want to sell Bitcoin at "high" prices and to hope for the price to go to a "low" price and end up with more Bitcoin in the end. That's also a gamble really, with extra fees.

[ethereumhunter]

To be honest, I don't even understand how players can bet their bitcoin, because it has deflationary properties as an asset. This means that it will most likely grow over time, roughly speaking, we could bet more stablecoins in a year than today, so why bet today? Of course, many players will object to me that they want to play here and now, but in this case it is better to bet stablecoins, because we will be able to understand our result after several games. With bitcoin, this will be difficult to do, because it is not clear how to calculate its price, by current values ​​or by those that we bet a year ago. In short, if we bet bitcoins, we simply will not be able to adequately analyze our game.

Maybe that is because they want to increase their Bitcoin amount so they risks their Bitcoin by playing gambling. They don't think that it is better to keep their Bitcoin than to be used for playing gambling while waiting for the high price. It is normal if many people object with you because they have their own reason why they use Bitcoin to playing gambling and the reason maybe different than what I said. If they think that using Bitcoin is good for them, they will still use that even if that means they can lose their Bitcoin more than they can afford to lose because playing gambling can not gives them many winnings. But we can hope that they know what they do by playing gambling using Bitcoin instead using stable coin to avoids the deflationary.

[danherbias07]

~snip~
To be honest, I don't even understand how players can bet their bitcoin, because it has deflationary properties as an asset. This means that it will most likely grow over time, roughly speaking, we could bet more stablecoins in a year than today, so why bet today? Of course, many players will object to me that they want to play here and now, but in this case it is better to bet stablecoins, because we will be able to understand our result after several games. With bitcoin, this will be difficult to do, because it is not clear how to calculate its price, by current values ​​or by those that we bet a year ago. In short, if we bet bitcoins, we simply will not be able to adequately analyze our game.

I think it is simply because people expect that they will end up with more Bitcoin in the end...

But it is quite clear that the gambling odds are against the gambler, and the casinos are the ones keeping all that Bitcoin.

It's a bit similar to when people want to sell Bitcoin at "high" prices and to hope for the price to go to a "low" price and end up with more Bitcoin in the end. That's also a gamble really, with extra fees.

Yeah, I guess some would not understand but there are gamblers who want to accumulate more Bitcoin in a faster way and gambling is one of those options.
Truly, it is a risk because the value of it keeps on increasing and it will be a waste to gamble them. But, what if you win? That means you will be holding more and you can say goodbye to the gambling site and just keep it somewhere safe. Cold wallet.

Buy and sell. That's one tricky way to accumulate more. It's not recommended for those who cannot read the market and it's not like we have the crystal ball to tell where the fluctuation will go. It is a gamble, you are right.

[sompitonov]

~snip~
To be honest, I don't even understand how players can bet their bitcoin, because it has deflationary properties as an asset. This means that it will most likely grow over time, roughly speaking, we could bet more stablecoins in a year than today, so why bet today? Of course, many players will object to me that they want to play here and now, but in this case it is better to bet stablecoins, because we will be able to understand our result after several games. With bitcoin, this will be difficult to do, because it is not clear how to calculate its price, by current values ​​or by those that we bet a year ago. In short, if we bet bitcoins, we simply will not be able to adequately analyze our game.

I think it is simply because people expect that they will end up with more Bitcoin in the end...

But it is quite clear that the gambling odds are against the gambler, and the casinos are the ones keeping all that Bitcoin.

It's a bit similar to when people want to sell Bitcoin at "high" prices and to hope for the price to go to a "low" price and end up with more Bitcoin in the end. That's also a gamble really, with extra fees.

Yes, indeed, gambling on cryptocurrency and bitcoin in particular has the goal of increasing the number of bitcoins from the initial amount. But of course, they will often decrease, because the house needs to be maintained and this is a working business with cash flows from players.

To be honest, I don't even understand how players can bet their bitcoin, because it has deflationary properties as an asset. This means that it will most likely grow over time, roughly speaking, we could bet more stablecoins in a year than today, so why bet today? Of course, many players will object to me that they want to play here and now, but in this case it is better to bet stablecoins, because we will be able to understand our result after several games. With bitcoin, this will be difficult to do, because it is not clear how to calculate its price, by current values ​​or by those that we bet a year ago. In short, if we bet bitcoins, we simply will not be able to adequately analyze our game.

Maybe that is because they want to increase their Bitcoin amount so they risks their Bitcoin by playing gambling. They don't think that it is better to keep their Bitcoin than to be used for playing gambling while waiting for the high price. It is normal if many people object with you because they have their own reason why they use Bitcoin to playing gambling and the reason maybe different than what I said. If they think that using Bitcoin is good for them, they will still use that even if that means they can lose their Bitcoin more than they can afford to lose because playing gambling can not gives them many winnings. But we can hope that they know what they do by playing gambling using Bitcoin instead using stable coin to avoids the deflationary.

Still, I think that most players don't even think about deflation and other things. If they have bitcoin and have an irresistible desire to gamble, they will do it here and now. And maybe over time they will remember their bets in five years and their lost bitcoin, when it will cost several times more and will think about holding it, and not gambling with it.

[arwin100]

~snip~
To be honest, I don't even understand how players can bet their bitcoin, because it has deflationary properties as an asset. This means that it will most likely grow over time, roughly speaking, we could bet more stablecoins in a year than today, so why bet today? Of course, many players will object to me that they want to play here and now, but in this case it is better to bet stablecoins, because we will be able to understand our result after several games. With bitcoin, this will be difficult to do, because it is not clear how to calculate its price, by current values ​​or by those that we bet a year ago. In short, if we bet bitcoins, we simply will not be able to adequately analyze our game.

I think it is simply because people expect that they will end up with more Bitcoin in the end...

But it is quite clear that the gambling odds are against the gambler, and the casinos are the ones keeping all that Bitcoin.

It's a bit similar to when people want to sell Bitcoin at "high" prices and to hope for the price to go to a "low" price and end up with more Bitcoin in the end. That's also a gamble really, with extra fees.

Not only to get more bitcoins at the end, but they also expect to get more profit if bitcoin price will go up by the time they request a withdrawal on the casinos. That's why usually people prefer to gamble with BTC since since aside for speculating for profits they are into gaining for more volumes since as mentioned gambling is one of the methods they see where they can earn a lot of volume aside from their investments made or buying phase they do.

But somehow we know how everything end up and I guess there's affecting factor on why people may shift to stable coins and that situation is when there's a network issue or rise of fees will happen. But this is temporary incidents only and I guess lots of people will came back to use their bitcoin since we know this is the most preferred asset compare to anything coins out there.

[terrific]

I know that someone has to find faults and ways to make him believe that he's lucky with the use of specific currency. That's the placebo effect.
I also believe on that somehow to make myself believe that I am better at something or make something positive out of negative situations.
It's normal to believe that but when you're knocking to the reality, you'll realize that it really means nothing at all.

It also seems to me that such mystical beliefs that the currency that you use in gambling can take place among players.
It's just that in general there are a huge number of signs, mystical beliefs, all sorts of events around luck in gambling that have nothing to do with the game at all and yet, in the player's opinion, influence the outcome of the game. Then such a player can justify victory or defeat in the game with all sorts of such signs. And in general, I do not condemn such superstitious players, especially because such internal psychological attitudes accompany any person in his life. And these are not necessarily signs in gambling. Signs can also be in relation to any events in a person's life. And probably a superstitious person who lost in gambling, nevertheless finds it a little easier to survive the loss simply because he was, as it were, warned by this sign, but did not understand it or ignored it. And accordingly, the events that were the basis for this sign are to blame

Every gambler, you'd hear some interesting thoughts about what their beliefs are.
If they think that gambling with some specific currencies or cryptocurrencies are really dealing with their luck, it's up to you on how you would react on that.
It's sort of a fun thing to hear but they really are believing into that matter and we cannot break their beliefs and superstitious beliefs just because we have a different.

[AmoreJaz]

Maybe that is because they want to increase their Bitcoin amount so they risks their Bitcoin by playing gambling. They don't think that it is better to keep their Bitcoin than to be used for playing gambling while waiting for the high price. It is normal if many people object with you because they have their own reason why they use Bitcoin to playing gambling and the reason maybe different than what I said. If they think that using Bitcoin is good for them, they will still use that even if that means they can lose their Bitcoin more than they can afford to lose because playing gambling can not gives them many winnings. But we can hope that they know what they do by playing gambling using Bitcoin instead using stable coin to avoids the deflationary.

If you are a gambler, the desire to play is always there so it is just normal if they want to stake their bitcoin or their other alts in their games. The responsibility lies on their hands so whatever the repercussions will be, is their burden to carry. If you just want leisure gambling, you can always bet small amount of money even if you are using btc. Because these days, online casinos can accept small amount of bets unlike offline casinos, where you will be ashamed of placing a bet using 5 bucks.

[EarnOnVictor]

Furthermore, according to those that are into crypto gambling that the of a person use USDT to gamble that is even more profitable then using a Normal currency, but they said that why get advantage also get disadvantages so the reason why some people didn’t have interesting on crypto gamble is that is due how the congestion is come across at times.

I think congestion is no longer a problem when we're using stable token to gamble. I found many gambling sites that support L2 blockchains, like Stake. They are adding support for various scalable blockchains, like Polygon and BSC. This helps us avoid the downsides of a native blockchain when it gets congested due to high traffic.

It doesn't even make sense to use the congestion as a reason why people have no interest to gamble.

We can actually stop considering the congestion, and this is more reason why we should always verify before sending from the wallets, many have been victims of that and many more will be. It's however, lessened with the USDT because there are more than 10 alternatives to it and every one of them can't be congested at once.

But the underlying issue here is that some wallets will never allow you to send your USDT through another chain from the one you received it from, what if your chain is congested at that time? This is why we can't entirely undermine the concern. Recently, the TON network was very congested for days, I've seen the polygon and others too so congested, even the popular BSC.

In all, I noticed that the lower the transaction fee, the more the congestion likelihood of congestion due to more people using it, though it's not happening so frequently.

[ethereumhunter]

Still, I think that most players don't even think about deflation and other things. If they have bitcoin and have an irresistible desire to gamble, they will do it here and now. And maybe over time they will remember their bets in five years and their lost bitcoin, when it will cost several times more and will think about holding it, and not gambling with it.

It seems those players just want to keeps playing gambling and not cares about the deflation of the price so that will not make them bother to think. When they can still playing gambling using their favorite currency, they will not stop and will doing that. But they can regret of what they do when they see their Bitcoin is decrease a lot and if they aware of that, they will start to reduce their gambling activity. But if not, they will still keep playing gambling using their favorite currency. We can not tells them to stop using their Bitcoin to playing gambling because that will be up to them. And if they still want to use Bitcoin, we can let them still using Bitcoin.

If you are a gambler, the desire to play is always there so it is just normal if they want to stake their bitcoin or their other alts in their games. The responsibility lies on their hands so whatever the repercussions will be, is their burden to carry. If you just want leisure gambling, you can always bet small amount of money even if you are using btc. Because these days, online casinos can accept small amount of bets unlike offline casinos, where you will be ashamed of placing a bet using 5 bucks.

They should be wise to stake their Bitcoin or other alts and needs to responsible with their funds that they use for playing gambling. Even though they can use any currency they want, they still needs to be careful handling their gambling activity because the matter behind that will be gambling addiction that can comes to them without they realizes. If they still use Bitcoin but they can not handle their gambling activity with right, that will be a matter of time they will becomes addicted to gambling and that means, they must be ready to lose their Bitcoin in the gambling table. No matter what currency they will use for playing gambling, they must know how to treat gambling as an entertainment so they will not have any problem after they finish their gambling activity.

[Pandu Geddon]

They should be wise to stake their Bitcoin or other alts and needs to responsible with their funds that they use for playing gambling. Even though they can use any currency they want, they still needs to be careful handling their gambling activity because the matter behind that will be gambling addiction that can comes to them without they realizes. If they still use Bitcoin but they can not handle their gambling activity with right, that will be a matter of time they will becomes addicted to gambling and that means, they must be ready to lose their Bitcoin in the gambling table. No matter what currency they will use for playing gambling, they must know how to treat gambling as an entertainment so they will not have any problem after they finish their gambling activity.

I don't know what gambling addiction has to do with the use of any currency used for betting. We know that as gamblers the risk is addiction, and as an anticipation, we must be aware of setting limits for ourselves. But what is the correlation with the currency being gambled?

I mean if we gamble irresponsibly, using Bitcoin or Fiat will not affect us from getting addicted. I don't think that's the point. If we only hold fiat, then we can bet at a casino that accepts fiat. If we hold Bitcoin, then we can also bet with Bitcoin at a crypto casino. The experience will be the same, and the risks are the same. You can lose or win. Even worse, you can also get addicted to it.

[ethereumhunter]

I don't know what gambling addiction has to do with the use of any currency used for betting. We know that as gamblers the risk is addiction, and as an anticipation, we must be aware of setting limits for ourselves. But what is the correlation with the currency being gambled?

I mean if we gamble irresponsibly, using Bitcoin or Fiat will not affect us from getting addicted. I don't think that's the point. If we only hold fiat, then we can bet at a casino that accepts fiat. If we hold Bitcoin, then we can also bet with Bitcoin at a crypto casino. The experience will be the same, and the risks are the same. You can lose or win. Even worse, you can also get addicted to it.

You can use any currency that you feels comfortable to use but what you must be aware is how you can treats gambling with right and not spend too much money to playing gambling. That is the thing that you should realizes to avoids the problem from gambling that can occurs after you ends your gambling activity. We know that gambling can tempts us easily and makes us spend more money if we don't have control when playing gambling so we must be careful to manages the funds to gambling.

As long as we can responsible with our gambling activity, we will not have a problem whether we use fiat or any cryptos because fiat and crypto is just a tools that will make us easier to playing gambling. We can choose the casino after we research and use any currency that we wants.

[Mia Chloe]

The title says it all. Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum?
Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom. The only downside is market volatility. Stablecoins always have their value pegged to Fiat (usually the USD), but they're too centralized and often lack investor protections or guarantees of any  kind. And then there's the choice of Fiat, but most (if not all) casinos or gambling sites require you to reveal your personal ID (KYC) to use them. In some countries it's even illegal to gamble online. So crypto for me, is the true winner here.
How about you?

Well let's just say good old fiat is like a limitation in the sense that it captures a smaller audience of gamblers which is only those using that particular fiat currency. In addition fiat only casino usually require a ton of KYC verifications unlike crypto casinos. Personally I prefer crypto casinos because they offer Thier services to a wider range of gamblers which infact is anyone capable of owning crypto. And coming to think of it you can buy crypto anywhere in the world.
Since crypto casinos have a wide audience, they usually offer more sporting activities and games and because of that most gamblers prefer them since they have so many options to choose from.

[$weetne$$]

It seems those players just want to keeps playing gambling and not cares about the deflation of the price so that will not make them bother to think. When they can still playing gambling using their favorite currency, they will not stop and will doing that. But they can regret of what they do when they see their Bitcoin is decrease a lot and if they aware of that, they will start to reduce their gambling activity.

Regardless if they see their Bitcoin amount reducing, they would not stop gambling because they are already addicted to gambling. Gambling addicts know that they are losing money but they can not stop if they wanted to. When they have not gambled, to them they do not care about any other things but just want to bet. Using Bitcoin, fiats or any currency will not make them to reduced the way they are gambling. Cryptocurrency is the worst currency that an addict can be using for betting because he is not emotionally attached to cryptocurrency since they are not physical and it might look like he is not losing anything but he has lost alot of money already. We are getting lots of gambling addicts recently because of online casinos and the introduction of digital currency to use in gambling.

[Makus]

Furthermore, according to those that are into crypto gambling that the of a person use USDT to gamble that is even more profitable then using a Normal currency, but they said that why get advantage also get disadvantages so the reason why some people didn’t have interesting on crypto gamble is that is due how the congestion is come across at times.

I think congestion is no longer a problem when we're using stable token to gamble. I found many gambling sites that support L2 blockchains, like Stake. They are adding support for various scalable blockchains, like Polygon and BSC. This helps us avoid the downsides of a native blockchain when it gets congested due to high traffic.

It doesn't even make sense to use the congestion as a reason why people have no interest to gamble.

We can actually stop considering the congestion, and this is more reason why we should always verify before sending from the wallets, many have been victims of that and many more will be. It's however, lessened with the USDT because there are more than 10 alternatives to it and every one of them can't be congested at once.

But the underlying issue here is that some wallets will never allow you to send your USDT through another chain from the one you received it from, what if your chain is congested at that time? This is why we can't entirely undermine the concern. Recently, the TON network was very congested for days, I've seen the polygon and others too so congested, even the popular BSC.

In all, I noticed that the lower the transaction fee, the more the congestion likelihood of congestion due to more people using it, though it's not happening so frequently.

Indeed we have to still consider the mempool congestion before using a network for transaction or gambling, I'll prefer the use of stable coins than any other coin for gambling, reason being that it has good liquidity and fast transaction confirmation unlike other projects. Besides that, I see Bitcoin and some altcoins as more of a store of value than a currency to be used for gambling, I prefer using fiat for gambling, or using a stable coin like USDT for gambling, thought congestion is not the reason for my preference but it's what is see fit besides congestion don't last forever and it's just a matter of time and it'll go away.

[KiaKia]

It depends.

If I am using my local online bet platforms I do use fiat currency but if it's online casinos I prefer using crypto, could USDT or LTC or Doge, you can't go wrong with these three because of cheaper transaction fee, to say the truth I use less BTC for gambling because I always feel like I am wasting BTC, maybe it is because the value of BTC is so higher than others? I doubt I am the only one feeling this way.

You are free to choose which one makes thing easier for you, I use all three depending on the situation, from the casino or the payment solution, nothing here will increase your chance of making more money though, still I advice you risk only what you can afford to lose.

[HelliumZ]

The title says it all. Which currency do you prefer to use when betting? Is it stablecoins, good-old Fiat, or traditional cryptocurrencies such as Bitcoin or Ethereum?

Personally, I like to gamble with crypto not only because it's "KYC-free", but also because it represents freedom. The only downside is market volatility. Stablecoins always have their value pegged to Fiat (usually the USD), but they're too centralized and often lack investor protections or guarantees of any  kind. And then there's the choice of Fiat, but most (if not all) casinos or gambling sites require you to reveal your personal ID (KYC) to use them. In some countries it's even illegal to gamble online. So crypto for me, is the true winner here.

How about you?

As for me, I must say that I mainly use different currencies for betting in gambling. However, I am more involved in online gambling and in this case I bet more on Bitcoin, Ethereum and TRX currencies. Since I am online in some cases I also bet in my native local currency.  In this case, betting in my local currency is very beneficial for me, especially for small amount bets I use my local currency.

[danherbias07]

It depends.

If I am using my local online bet platforms I do use fiat currency but if it's online casinos I prefer using crypto, could USDT or LTC or Doge, you can't go wrong with these three because of cheaper transaction fee, to say the truth I use less BTC for gambling because I always feel like I am wasting BTC, maybe it is because the value of BTC is so higher than others? I doubt I am the only one feeling this way.

You are free to choose which one makes thing easier for you, I use all three depending on the situation, from the casino or the payment solution, nothing here will increase your chance of making more money though, still I advice you risk only what you can afford to lose.

Yeah, I also use USDT on international betting platforms but when it comes to the local gambling sites, I use our own currency and it's actually cheaper that way.
I mean, I won't waste cryptocurrencies like LTC and Bitcoin if there's an option for local currencies. Also, that's the faster way to deposit and it's easier by using a cash application without any transaction fee included.
Maybe others prefer cryptocurrencies because they think they are lucky while using them but there's really no such thing. It's the algorithm is what we should always look at in casino games like slots not by currencies.