Market down, Casino volume up.

[NewCryptocasinos]

We have been in the crypto gambling space since 2018 we can clearly see that when the market goes down, the activity at the crypto casinos goes up.

Why do you think this is happening?

Well, I have not noticed this or taken notice of this myself, I guess you either own or work closely with most casinos and possibly do get this type of data or statistics from casinos to know that when the crypto market is down, activities in casinos increase.

If this is true, I think the reason is very obvious and clear, Men are chasing after money and when it seems or looks like a door has closed, every one move on to look for the next open door.
What this mean is that when the crypto market is down in a way that making money off it becomes close to impossible, those who are also gamblers then or will shift their attention to gambling since most people hate staying idle.

This is the only reason I can think of as to why activities in casinos increase or will increase when the crypto market is down.

I think only the casino has statistics to back up this claim. They could research whether cryptocurrency prices affect casino volume. On DappRadar, you can find incoming volume in the gambling section from websites like Polymarket. However, I’m not sure if this data can be used for a fundamental analysis of this relationship.

One potential hypothesis could be that when crypto markets decline, people cope with their losses by gambling in an attempt to win back their crypto losses

Yes, casinos, but also slot providers, affiliates. We can also measure activity through different statistic programs like Google Analytics, Ahrefs, and SEMrush.

[l3pox]

I don't think most of the casinos even take into consideration the market performance of cryptocurrency, when they know that such could not be an issue from their own end, we are gambling to only use any coin of our choice and they have a numbers which they supported, the market rise or fall does not also concerns us, neither does it determine what they receive as an output performance of gamblers or their casino, anybody having his money at hand can gamble irrespective of the market condition.

it's not about what the casinos do in this case but about the behaviour of market participants (traders and gamblers)
there's probably a huge overlay between those and when markets are more depressed, boring and harder to play we probably see a lot of flow to gambling and sports betting
doesn't sound absurd...

[xLays]

I think it is because some people might prefer gambling their crypto in an online casino rather than waiting for it to go up because they think it will just keep going down. That way if they lose it through gambling, it feels less regretful than simply watching its value decrease over time. It’s like shift in mindset from long term investing to short term high risk betting, where at least there’s a chance to win rather than just holding onto losing their crypto. For some it’s a way to make the most out of a bad situation, even if the risks are just as high.

[Finestream]

I think it is because some people might prefer gambling their crypto in an online casino rather than waiting for it to go up because they think it will just keep going down.

If many traders are also gamblers, then it makes sense that they’re doing this. Investors, when the market is down, often convert to stablecoins, and since stablecoins are easily usable for gambling, it creates a natural crossover between trading and gambling.

So in a way, this actually benefits the gambling industry even when the crypto market suffers, gambling platforms still get activity, making it a sort of win-win situation for both sectors.

But OP, can you share some data or sources to back up your statement? It would be interesting to see actual numbers on this trend.

[AbuBhakar]

Yes, casinos, but also slot providers, affiliates. We can also measure activity through different statistic programs like Google Analytics, Ahrefs, and SEMrush.

This will be a nice thread if you can show the real stats here given that you claim you data records that measures gambling activity through different source.

I’m curious on gambling behavior of gamblers on every market movement.

You should do a regular update like weekly or monthly to see consistency or changes on the numbers.

[l3pox]

I think it is because some people might prefer gambling their crypto in an online casino rather than waiting for it to go up because they think it will just keep going down. That way if they lose it through gambling, it feels less regretful than simply watching its value decrease over time. It’s like shift in mindset from long term investing to short term high risk betting, where at least there’s a chance to win rather than just holding onto losing their crypto. For some it’s a way to make the most out of a bad situation, even if the risks are just as high.

recency bias is a sticky thing
if prices start to go down we think they'll go down forever
if prices are going up we think they are going up forever

but we have to remember that nothing is forever
change is one of the main laws of life

this is how it goes

[danherbias07]

I have never seen that happening. Does this happen always? Proofs?

I mean, it's a different industry, I don't know how it is connected. Online casino volumes are going up because the number of gamblers also going up. They know it's a market where they could make profits by simply making an online casino and injecting slot games or casino games. One developer might not even need a bunch of people to make that happen so it's low cost and high profits which is why there will be a mountain of different online casino names that will come out. The ease of access is what makes gambler play more and they will try different applications or websites that will suit their needs and who knows if they will bump to the new ones.

[LUCKMCFLY]

This reminds me of 2017 when I played craps at freebitco.in. The players I communicated with said they loved it when the Bitcoin price dropped because they won more, but they didn't play when Bitcoin was trending upward because they said the casino "adjusted" by not allowing them to win too much due to the value of the satoshis.

Actually, there may be some logic to it, but I stick to the idea that every casino applies its house edge, and that's what allows them to win or not, whether the price goes up or down.

[tread93]

We have been in the crypto gambling space since 2018 and at  https://wagerx.io/ we can clearly see that when the market goes down, the activity at the crypto casinos goes up.

Why do you think this is happening?

Some users feels like they are losing money and gambling is one way to recover It, the sad parte is how lot of them ends losing all trying to recover a 5% or less.

Most of those users make big bets with low risk, buen even those bets can lose, so, its sad to see them placing all in at 90% chance to win and losing them.

Yeah, they do try to chase whatever they lost only to fall deeper into the rabbit hole. I'm sure many have shot themselves in the foot time and time again. It's a risky way to do it but hey what's life without risk? You've got to shoot your shots and take the chances if you're feeling it in your gut. It is odd though to see that volume in gambling sites go up when the market is down, I wasn't aware. Interesting.

[Sanitough]

This reminds me of 2017 when I played craps at freebitco.in. The players I communicated with said they loved it when the Bitcoin price dropped because they won more, but they didn't play when Bitcoin was trending upward because they said the casino "adjusted" by not allowing them to win too much due to the value of the satoshis.

Actually, there may be some logic to it, but I stick to the idea that every casino applies its house edge, and that's what allows them to win or not, whether the price goes up or down.

That wasn’t a real pattern in real life, it was probably just a coincidence as no casino would adjust its system to make gamblers win just because Bitcoin’s price is up or down.

The reason people say "casino volume up" is because gamblers tend to bet more Bitcoin when the price is not moving up. It’s like they’re also hoping for a price increase so that if they win, their earnings will be worth even more when Bitcoin’s value rises.

[Slow death]

Knowing that in gambling people lose more than they win, I find it very difficult for someone who HODLs to sell the coins they have because the price has fallen a lot and go play at the casino with the purpose of recovering everything they lost. People who invest are very strict with their money management. They have clear objectives: "to make a profit" even if it means waiting years. They will not use the money in the casino to

[Ararbermas]

Well, sadly, it's probably the classic 'chase your losses.' So, when someone gets a big hit in their portfolio, instead of chilling and waiting, they might run to the casino to try to double up.

Honestly, I don't think it makes much sense. For me, it's much wiser to move in other assets to protect your capital from market fluctuations. Relying on games to recover losses isn't a good strategy as well, as it's largely based on luck. And there's a high chance things could get worse if you resort to gambling to try and recover losses.

[katanic97]

We have been in the crypto gambling space since 2018 we can clearly see that when the market goes down, the activity at the crypto casinos goes up.

Why do you think this is happening?

That's because people try to recover their losses or seek entertainment in the casino when the market isn’t going in their favor. When there's no profit in trading, some turn to the casino,gambling in general,hoping to have better luck there.

[AmoreJaz]

Well, sadly, it's probably the classic 'chase your losses.' So, when someone gets a big hit in their portfolio, instead of chilling and waiting, they might run to the casino to try to double up.

Honestly, I don't think it makes much sense. For me, it's much wiser to move in other assets to protect your capital from market fluctuations. Relying on games to recover losses isn't a good strategy as well, as it's largely based on luck. And there's a high chance things could get worse if you resort to gambling to try and recover losses.

Sometimes, gamblers feel that it is cheap to buy coins when the market is down. But it is the same coins they are using to play with. They maybe can afford to buy more coins to play if the price is down. So they feel, they are richer and have more money to spend with their games.
As much as possible, instead of gambling, you can also invest in valuable coins when the market is down. So when the market recovers, you can easily get good profit from these valuable coins.
Some people will really take their chances as they want to multiply their holdings in a faster manner. However, this is gambling. And assurance is never a guarantee even if we say, you deploy all your known techniques or acquired skills.

[Beparanf]

Sometimes, gamblers feel that it is cheap to buy coins when the market is down. But it is the same coins they are using to play with. They maybe can afford to buy more coins to play if the price is down. So they feel, they are richer and have more money to spend with their games.
As much as possible, instead of gambling, you can also invest in valuable coins when the market is down. So when the market recovers, you can easily get good profit from these valuable coins.

I doubt this is the case because most of the casino now displays bet on Fiat/stablecoin currency as default setup since it’s very hard to determine the bet real fiat value when you are using crypto as currency on your bet.

In my opinion, the most possible reason is because some crypto holders wants to recover their loss quickly through gambling and some wants to increase their holdings through gambling since they are already invested to hold crypto due to low market value.

[beerlover]

I think it is because some people might prefer gambling their crypto in an online casino rather than waiting for it to go up because they think it will just keep going down. That way if they lose it through gambling, it feels less regretful than simply watching its value decrease over time. It’s like shift in mindset from long term investing to short term high risk betting, where at least there’s a chance to win rather than just holding onto losing their crypto. For some it’s a way to make the most out of a bad situation, even if the risks are just as high.

So you mean to say that they are ignorant of how trading and the market works in the first place because a sane person would never gamble their holdings away only because the market is down or is going down with the mindset that they can't see their assets lose value so they are going to lose the assets instead, lol.

If you know the market and how cryptocurrencies work, you wouldn't even think of moving 0.01% of your assets when the market is down because you would know that's going to cause you losses, and you can't think of gambling them away. This is definitely not the reason why casino stats go higher when the market goes lower.

I think people might be trying to get profits from gambling when they aren't getting any from the market.

[stompix]

I have never seen that happening. Does this happen always? Proofs?

No, he hasn't and the initial post was actually an ad for a gambling review website:
https://ninjastic.space/post/65103549
So he was just promoting his website with made-up clickbait data.

As for this scenario to be real it's highly improbable, it contradicts the behaviors of crypto enthusiasts who want to accumulate when the market is down and also would imply that gambling goes down when the market goes up because people don't want to risk their funds there you go, you have cured gambling addiction. Also, I really doubt casinos would give away data that easily on the numbers of users and the volume they have to match such a study.

[Outhue]

We have been in the crypto gambling space since 2018 we can clearly see that when the market goes down, the activity at the crypto casinos goes up.

Why do you think this is happening?

Is there any chart or data that back this your claim up? If there is one I will like to see it, I am not saying I don't believe you though but such data can come in handy, I think it make sense if this is true because the bear market is always a boring period for people who are not full time traders.


I will still like to see your tool or ways you know that gambling activities have increased massively, because gambling isn't an asset like crypto, so the volume you claimed sound funny.

It makes sense to risk some money on casinos when the crypto market is not performing very well, so I am not against this, but there is never a time where gamblers don't gamble, either market is bad or not they don't care because such activities in the market don't affect casino businesses.

[cande86]

Knowing that in gambling people lose more than they win, I find it very difficult for someone who HODLs to sell the coins they have because the price has fallen a lot and go play at the casino with the purpose of recovering everything they lost. People who invest are very strict with their money management. They have clear objectives: "to make a profit" even if it means waiting years. They will not use the money in the casino to

What you say is an obvious fact, obvious that most people who gamble lose, i am would say normal otherwise we would not have all these casinos present on the market. Each of them wants a slice of the cake
And then gambling is something as old and ancient as prostitution

[JunaidAzizi]

It should be like the good type of market condition the more gambling activities there are, the users will earn a lot of money from the market and they will go to the casino to earn more or just for entertainment. However, when the market is down, fear grows among users that they will lose all their assets in a second, and for that, they look for something that can make them feel secure. The casino is the best place for them, where they can not just earn but also double and triple their money, but only if luck is on their side. So this is the thing that most people will do, but I have never heard that crypto users go to the casino to make money after the market is down. The casino has its own users, and they will come regardless of any obstacles.