Trading has become too much akin to gambling. Let's embrace it

[Outhue]

Are you guys talking about the same leverage trading that's available on top crypto exchanges? Are you guys for real? Because we are all missing a part here, as for OP saying that Rollbit offers such service, here is a question for you.

Does Rollbit offers stop loss option on their platform? If not they sucks, leverage trading on Bitcoin price action is better off on a crypto exchange, I can't count how many times I've escaped losses because of stop loss feature.

[ethereumhunter]

But still casinos can ask KYC to their members so that will be the same as if you trade on the exchanges. Well, that will not be a problem for me whether I trade on the exchanges or casino but so far, I am not trade in the casino and only use exchanges. I still feel comfortable trading in the exchanges than casino because exchanges is the right place to trade while casino is the right place to playing gambling. But if some people want to try to trade in the casino, that will be up to them but they must responsible with what they will do.

[cryptoaddictchie]

Let alone the fact that people from many countries aren't even allowed to sign up to crypto exchanges because of arbitrary reasons like for example Israel pressuring Binance to close the accounts of people just for being Arab.

Is this for real it seems I didnt read this memo somewhere on socials if thats the case then this is quite harsh. Just because you are Arab, why theres so much discrimination on such feat. Bitcoin is for everybody, if those cex are not cool with that maybe those people should learn to close their business.

I dont know btc movement is quite erratic and doing it on gambling site might affect but surely as a gambler you dont mind some fluctuations.

[Strongkored]

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

I know about that gambling feature on rollbit and have tried it when it first launched, and I would say it's not that interesting.
Logging into our casino account and playing games like slots or casino games or even sports betting is much more interesting than playing on the BTC price game, and if you are good enough at analyzing the BTC price, trading directly on the exchange will be more profitable in my opinion.

[Gozie51]

If I have to gamble some percentage of my bankroll to predict the future price of btc I don't think that would be a problem since it is gambling out from the amount I have and not losing what I'm hodling.

This is like the gambling or betting of futuristic outcome of a game like the price of Bitcoin.

[Tungbulu]

While it’s true that gambling and trading share so many similarities, if you dig in very well you’ll also do lots of differences too.
Gaye to gambling’s unpredictability and high dependency on luck, it’s very hard, or should I say nearly impossible to consider it as a reliable or sustainable income source, whereas trading is a lot more different, because profitability depends more on the trader’s skill and experience rather than luck or chances. Although trading is also quite unpredictable, especially when trading on assets that are highly volatile like crypto but there’s every possibility of a trader to develop his trading skills.

[Reatim]

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

I mean… we can very much do so here in the forum. No need to go and find it on casinos. You can do it here. Even with just members of the forum, we discuss all the time what could be the price of bitcoin at this time or at that time. It’s all speculation but we’re all basically betting on it. Maybe most of the time we just don’t put money where our mouths are but it’s borderline gambling.

There’s still some level of educated guess in every bet of bitcoin’s price though. Keep that in mind when you make such comparisons.

[Solosanz]

I mean… we can very much do so here in the forum. No need to go and find it on casinos. You can do it here. Even with just members of the forum, we discuss all the time what could be the price of bitcoin at this time or at that time. It’s all speculation but we’re all basically betting on it. Maybe most of the time we just don’t put money where our mouths are but it’s borderline gambling.

There’s still some level of educated guess in every bet of bitcoin’s price though. Keep that in mind when you make such comparisons.

There's a difference.

People who discuss about Bitcoin price in speculation is mostly talk about price in the next weeks, months or years.

While crypto futures in casino only predict the price for the next few seconds or few minutes, very very short time. Since the duration is very short, this mean the discussion in speculation section is irrelevant.

[SmartGold01]

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

This could be more better and valuable than other games that we aren't sure if they are provably fair or not, but for bitcoin price I know we can't give exact amount which it would be but I know it's all about speculation and when exactly the price should fits whatever predictions we give. For instance, I will love some local casino or betting site to include this price speculation just as polymarket did included the US election prediction on their gambling site, I believe there would be more people who will be willing to bet on bitcoin price to know what the results might comes out by then maybe since everyone is expecting the price to hit 180k and above it would be more better.

[Z-tight]

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

I have not gambled on the fluctuation of BTC price in a casino yet, but i don't think it is something i would want to do, it does not sound fun and it is better i gamble on sports betting, slots, etc in casinos and trade futures in crypto exchanges. Opinions will surely differ and there would be people who enjoy gambling on this in a casino, but i don't like the idea, i will have more fun using a casino for what i have always used it for.

[tvplus006]

...Would you gamble on casino games that are based around the real fluctuations of BTC's price?

Such bets on cryptocurrency are not something new, as Polymarket already offers something similar - https://polymarket.com/markets/crypto. And judging by the activity, cryptocurrency betting is popular among site visitors.

[Hispo]

...

Anyway, I think more casinos should follow the path of what Rollbit has been doing with its virtual futures and offer gambling services based on the BTC price. There could be several advantages. No KYC, no regulatory restrictions as imposed on traditional markers, unlimited leverage... You name it.
Maybe even there could be some algorithmic memecoin releases. Maybe you're one of the lucky ones that get 10x or one of the unlucky ones that get rugged.

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

I am in favor of casinos pursuing innovation and offering as many games as possible to their gamblers, if it is for the sake of entertainment then it should not be a problem. There is already much people spending their time and money gambling s lot of their money away in exchanges, instead of doing it on a casino, so... why not? It only bothers me the amount of regulation which could ensue from casinos starting to adopt those kinds of gambling markets in a broad way , it would certainly catch the attention of the government.

The only thing I am not completely in favor of would be to other those markets to gamble on memecoins and shitcoins, which are always inclined to be scams and rugged their investors, in that case, a casino giving visibility to those scam coins and projects are indirectly co-responsible in case of people decided to put their money in them, instead of doing in on other more reliable coins which are proven not to be scams.  Anyways, any staffer of a casinos would be intelligent enough to keep themselves away from obvious scams before including them in their gambling options, I guess.

[Silberman]

I'm assuming everyone here already knows how volatile crypto markets are and how much of a risk it is to trade there. I'm not going to delve deep on that topic because I consider it a given already. However I'm getting a sense that in spite of the great demand to make risky trades on crypto, casinos tend to ignore it too much.

I remember a few years ago binary options on BTC/USD were quite popular.
These days billions of USD are put towards leveraged futures, and now with markets opening futures and options on Bitcoin ETFs, institutional investors will also have access to very risky positions on BTC right from their broker.

However, these markets have several restrictions. On most brokers you can't get margined leverage above 5x and/or many territories don't even allow for brokers to offer options to the general public. Let alone the fact that people from many countries aren't even allowed to sign up to crypto exchanges because of arbitrary reasons like for example Israel pressuring Binance to close the accounts of people just for being Arab.

Anyway, I think more casinos should follow the path of what Rollbit has been doing with its virtual futures and offer gambling services based on the BTC price. There could be several advantages. No KYC, no regulatory restrictions as imposed on traditional markers, unlimited leverage... You name it.
Maybe even there could be some algorithmic memecoin releases. Maybe you're one of the lucky ones that get 10x or one of the unlucky ones that get rugged.

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

Many years back there were casinos that did that but I think most of them disappeared already, however the problem with what you are suggesting is that even if casinos tried to sell this as a gambling game, the reality is that you will be trading the price of bitcoin and their assets, and once regulatory bodies set their sights on those casinos, they will be accused of violating the law as they do not have the license to offer those services, so if Rollbit is doing this, I would not be surprised if we heard they are having problems in a few months down the line.

[Wapfika]

Binary games like what you can play on Rollbit is still trading. It’s just high risk but there’s a basis on your bet which can increase your winning percent if analyze properly while on gambling the result is just pure luck which no type analysis can help you to win the game.

There’s a different level of risk on trading but that doesn’t we can categorized them already on gambling. Not all with risk is gambling!

The difference is the purpose of use, Trading even with high risk is a financial instrument while gambling is just an entertainment tool.

[Nrcewker]

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

These are similar to trading only. The only difference is the risk you take while the bet is on. Normally while trading, the risk involved is comparatively low; you slowly see the price go up or go down. But in the case of price prediction games, you place the bet, and there is a 1/0 outcome. So if I was given a choice, then definitely I would go for the low risk involved. We also need to remember one thing: low risk is equal to low profit and vice versa.

[Fivestar4everMVP]

I'm assuming everyone here already knows how volatile crypto markets are and how much of a risk it is to trade there. I'm not going to delve deep on that topic because I consider it a given already. However I'm getting a sense that in spite of the great demand to make risky trades on crypto, casinos tend to ignore it too much.

I remember a few years ago binary options on BTC/USD were quite popular.
These days billions of USD are put towards leveraged futures, and now with markets opening futures and options on Bitcoin ETFs, institutional investors will also have access to very risky positions on BTC right from their broker.

However, these markets have several restrictions. On most brokers you can't get margined leverage above 5x and/or many territories don't even allow for brokers to offer options to the general public. Let alone the fact that people from many countries aren't even allowed to sign up to crypto exchanges because of arbitrary reasons like for example Israel pressuring Binance to close the accounts of people just for being Arab.

Anyway, I think more casinos should follow the path of what Rollbit has been doing with its virtual futures and offer gambling services based on the BTC price. There could be several advantages. No KYC, no regulatory restrictions as imposed on traditional markers, unlimited leverage... You name it.
Maybe even there could be some algorithmic memecoin releases. Maybe you're one of the lucky ones that get 10x or one of the unlucky ones that get rugged.

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

This is something I've always wished was available on stake, since stake has remained my favorite and number one go to casino for anything gambling.

I completely agree with all that you have said, but I still believe that there is a difference between a trader and a gambler, and that difference will always remain, what will seperate both is their level of knowledge and dedication to research and analysis.
A professional trader won't trade blindly, he or she must research, analyze, read, take all the necessary measured to ensure that he or she knows what he or she is doing when ever he or she opens a position.

But for the gambler, he or she may not have to time for research or analysis, this things are complicated and he may not even know how to do them, so, he enter the market, opens a position blindly, this is what makes him or her a gambler.

Casinos have a great opportunity to open up gambling of cryptocurrencies based on their price instability, but i guess most casinos are already OK with the games they offer, which is actually very boring at times.

[pawanjain]

If I were to bet on bitcoin price or lets say any cryptocurrency price then I would rather do it on an exchange instead of a casino.
As others have mentioned, leveraged trading is a better option which provides options like stop loss which can benefit us.
Betting on casinos will get our money liquidated quickly. Casinos should rather be used for gaming related bets from my perspective.

[Lida93]

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Would you gamble on casino games that are based around the real fluctuations of BTC's price?

Gambling on fluctuating BTC price for me is highly risky than the traditional sports gambling due to its high volatility it makes it very difficult to have a good chance for a short time prediction as we can easily do with sports games.  if I am to gamble on bitcoin price It will be for the thrilling feeling I might wish to experience with it cause am sure the feeling for both would be different.

[Slow death]

Would you gamble on casino games that are based around the real fluctuations of BTC's price?

In the past I had some interest in betting on the price of Bitcoin, but whenever I analyzed the chart and looked at the options that the site was offering I came to the conclusion that it would not be worth it. In my opinion predicting the price of Bitcoin is difficult, but at least you can buy and place a stop-loss or do long-term HODL, so the chances of losing all the money are low. Let me give you an example: take $100 and bet everything on a bookmaker, that person will bet that the price of Bitcoin in December will close at $100,000, but when the price closes at $90,000 then that person will lose all $100. Now if this person buys bitcoin at $90,000 and the price in January drops to $80, for example, this person will not lose the entire $100

[bittraffic]

The binary trading would be fitting for it to be consider gambling. Still its almost the same risk, you could lose coins unless you hold.

There are still BTC speculation games in FortuneJack and RollBit AFAIK. Its just not so fun to play when you have experienced the best in secondstrade back then when the coins are sent back to you when you win. I think with LN today its already possible to do that again. Nobody is developing the same platform though.