Is Bitcoin Gambling a big opportunity or a big trap?

[iBaba]

Recently I've been noticing how bitcoin gambling sites are becoming increasingly popular among young people as these days you don't have to walk into a betting shop again or visit any casino games centres before you can gamble, now you can just get everything served to you on your smartphone while you're sitting at home and since the introduction of crytocurrency including bitcoin into gambling, it has even gone further to make gambling faster, easier sweeter and more enjoyable to many young people.

Now with these crypto based gambling sites you have easy access to playing gambling games and bets, borderless transactions through wallets and also get instant payouts as well as you don't have to pass through many traditional verifications or ID checks.

But as good as these new developments may sound, we have already started witnessing its side effects around increasing financial loss among the young ones since the process has been made easier than ever, growimg number of young gamblers becoming more attached and more addicted to gambling as they could do everything at home and more importantly making it more difficult for proper regulations among government institutions.

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

[Davidvictorson]

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

It is not bitcoin gambling that is the problem. The problem is the easy access to gambling site through mobile phones or mobile devices. That is the main problem. This has caused a lot of online gambling platforms to Spring up because they know that they are consumers are in their living rooms and they can meet them there with just an ad. For the gambling operators, it is a big opportunity but for the gamblers, it is a trap. We have a gambling epidemic about to explode.

[Frankolala]

Online gambling is what is the cause of increased in gambling addiction and not bitcoin because bitcoin is innocent. It's not bitcoin that made people started gambling but the urge to double their money. Majority of crypto casinos do accept fiat in local currency. This shows that even if you don't know much about cryptocurrency, you can still use such casinos.

[bhadz]

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

It is a subjective topic. But if we're going to take the majority's answer. It's always the latter that many will say. Because of how many irresponsible gamblers are out there. It could lead to their addiction and they will have a hard time in recovery. Don't just sum it up that it's all about Bitcoin gambling but it is gambling in the entirety of it regardless of what crypto that they'll use. Because with the variety of choice aside from the casinos, it's the same also with the cryptocurrencies that are also widely supported by most of them.

[Agbamoni]

The general reason why we gamble is because we want more than what we have, lets leave fun aside. If we are satisfied with what we have we wouldn't be looking for more. So the problem isn't easy access to to casino online. And there is no need for any gambler to see that as a problem because every adult must take full responsibility off their actions.

[Charles-Tim]

Now with these crypto based gambling sites you have easy access to playing gambling games and bets, borderless transactions through wallets and also get instant payouts as well as you don't have to pass through many traditional verifications or ID checks.

There are gambling sites that accept bitcoin and few other cryptocurrencies and you have to go through ID verification. A good example that I know of is Stake.

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

There are some people that are also addicted to traditional gambling.

[Oluwa-btc]

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

The performance of gambling became extremely high due to the existence of Bitcoin in gambling which has led many to a financial decline due to an uncontrollable gambling habits, and with that it's been recorded as a bigger opportunity for the people involved  leading to a trap that has resulted to constant loses and yes the younger generation would always be victimized by this.

[Gozie51]

But as good as these new developments may sound, we have already started witnessing its side effects around increasing financial loss among the young ones since the process has been made easier than ever, growimg number of young gamblers becoming more attached and more addicted to gambling as they could do everything at home and more importantly making it more difficult for proper regulations among government institutions.

This is not about bitcoin gambling and loses but the effect of gambling itself because gamblers also lose when they gamble with fiat or offline shop. Gambling seem to be part of the easiest things people lay hands of with the wrong idealogy of making quick money. It is selling and that is why many casinos are opening up. However, it is important that casinos try to regulate the age of status of their players so that they don't encourage underage gambling because the younger generation are quite internet savvy

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

It is not a trap neither is it an opportunity rather it is for the gamblers to be wise as to make a decision to gamble responsibly. Every gambling outfit is there to make profit because they are taxed and other expenses they undergo running their business, so they must have to make profit. It is for the gambler to take a reasonable risk and understand that whichever outcome, the casino owner won't lose and taking higher risk is to the detriment of the gambler if he loses which is never the concern of the casino owner.

[CryptoHeadlineNews]

Recently I've been noticing how bitcoin gambling sites are becoming increasingly popular among young people as these days you don't have to walk into a betting shop again or visit any casino games centres before you can gamble, now you can just get everything served to you on your smartphone while you're sitting at home and since the introduction of crytocurrency including bitcoin into gambling,

Wait. Do you mean "Online Gambling" or actually "Bitcoin Gambling?", because from the explanation given above, what you actually explained  was "Online Gambling", and not specifically "Bitcoin gambling" which primarily has to do with gambling which involves the use of Bitcoin as it's currency. Because to be frankly speaking, I'm pretty sure that even without the use of Bitcoin, considering the number of high rate of online casinos been launched daily, which uses both fiat, I'm pretty sure without Bitcoin, the population of youths that are gambling today would have still gamble. Since it's primary cause, which is unemployment or job for the youths is not been provided by government, hence, making them see gambling as a medium to escape  poverty, when they probably get lucky to win a jackpot.

[uneng]

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

It's a big opportunity for entrepreneurs to make money by investing on such businesses, for employees who are going to work for the industry and for responsible gamblers who will enjoy and have fun gambling without compromising their finances.

For everyone else it's not an opportunity, neither they should be gambling at all, because there is nothing good they can get from it... Even though the industry may be aiming this target public, they aren't supposed to become gamblers at all, as gambling is a category of entertainment for people who already have money they can afford to lose. People who are trying to find new ways to make money should discard gambling immediately.

Then we can consider that for this group of people gambling is a trap, in case they are misunderstading how it works and what they can expect from it.

[terrific]

Now with these crypto based gambling sites you have easy access to playing gambling games and bets, borderless transactions through wallets and also get instant payouts as well as you don't have to pass through many traditional verifications or ID checks.

The crypto online casinos are the better option now, with news that we've seen across the world trying to eliminate the usage of online casinos.
They made a better choice by having them and the option and feature that they don't have to go such detailed kyc.
But it's only a good start for some users and we know it that still, most of them are now verifying for compliance of these casinos to the government.
If holding Bitcoin is already an opportunity, Bitcoin gambling or gambling as a whole is an opportunity for them. But, they're believing in the wrong idea.

[Joy- maker]

The introduction of bitcoin and other cryptocurrencies into gambling site as method of payment is not an opportunity nor a trap, what I can say here is that now that bitcoin and other cryptocurrencies are now been accepted as payment method allows individuals who want to gamble in a gambling site to gamble with what ever currency they have wether cryptocurrency or fiat currency, as in the introduction of bitcoin and other cryptocurrencies as payment method have made it more easier to gamble if you have cryptocurrencies or fiat currency.

[$weetne$$]

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

It is actually both. It is an opportunity and also a trap and these are in different contexts.  You are to make it what you want it to be yourself, it becomes a trap to those who allow themselves to be carefree enough to fall pray to the casino trap and also become an opportunity for those who have good control over their gambling because value will be gained and preserved as compared to regular Fiat gambling.

[coin-investor]

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

I consider it a trap; it rarely becomes an opportunity. You have to be extremely lucky to win a considerable amount of money and convert it into an opportunity; a compliant and licensed casino will not promote its platform as an opportunity, but rather as an entertainment platform based on its terms and license.
So a gambler is deceiving himself if he thinks that the casino he is playing will allow him to change his life.

[I_Anime]

IMO opinion it can be both , like I usually say it boils down on how the gambler approach it . And not mention it will have positive effect on bitcoin like , adoption, utility and liquidity . Because they would be a lot of transactions going on in bitcoin blockchain , no doubt there would also be negative effect just like op mentioned, loss of resources . The best is to try by all means to approach the site with an open mindset knowing that is not as simple as they say when come to hitting the jackpot in gambling .

[skarais]

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

Similarly, Bitcoin is simply a currency adopted by the gambling industry and it's exactly the same as fiat-based gambling. While there are certainly significant opportunities for industry players, as interest in it is growing rapidly due to increased privacy. The impact is exactly the same as fiat-based gambling. I don't find any difference other than privacy issues, addiction depends on each gambler.

[Churchillvv]

70% percent of the people on the internet (active) are the younger generations and perhaps you just happen to know that the increase in mostly on the younger ones and of course it’s not just in the gambling industry but almost everywhere, gambling is even more rampant than ever but if you say bitcoin gambling site then you’re indirectly saying bitcoin is the cause but the actual cause of increase is the general increase in age of technology and the participants in this techs are younger and hence we expect the younger once to be the users, it’s not a cause neither it’s a blessing but it’s the outcome of the new age!

Additionally, no one is left broke everyone is responsible for their actions.

[Y3shot]

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

Whether bitcoin casino or not people will still gamble,  it is not as if because of bitcoin casino it will attract people to gamble more. Even this if  the casino is not existing people will stil go to the gambling shop to gamble. It will only be a trap for those who font understand gambling and wants to make money from gambling by all means.  If you really understand the uncertainty of gambling and gamble with the money that you can afford to lose ,then gambling won't be seen as a trap.

[giammangiato]

Whether it's Bitcoin or dollars, the only difference is the currency; the problems are very different.
1. Ease of access without any age checks (you remain anonymous, but anyone can play, even children).
2. No control over the reliability of the platforms (everything will work through word of mouth without any real oversight organization).
3. Speed ​​of access to the game and increased exposure to addiction, starting at a young age.

Bitcoin has nothing to do with all this; rather, an environment where no documents are required to play could be less secure; it becomes a kind of underground gambling den for young people.
I repeat, it's not the currency that makes the difference.

[Hispo]

...

✂️

The big question for me now is, do we consider bitcoin gambling sites a big opportunity for the people or a big trap that will leave many young people addicted and financially broke?

To me it is pretty obvious this wave of interest in Bitcoin gambling is an opportunity for one only if ones is planning to open a casino with accepts cryptocurrency, otherwise it is not an opportunity, as one as a gambler is very likely to lose money to the casino due to the edge of the house and the incredibly small chances of hitting a jackpot.
Make no mistake, gambling is not an opportunity for financial gains, as long as one is against the house, the only opportunity gamblers should have on their mind when comes to casino is entertainment/amusement, otherwise consequences are already well documented to those who ignore good practices and responsible gambling.