Is Bitcoin Gambling a big opportunity or a big trap?

[robelneo]

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?

When you think of monetary gains when you're playing, you've already made it a big trap, because you are forcing yourself to win against the casino, which is not possible at all times. There is no opportunity I can think of for casino players other than enjoying the game. When you think of opportunity, you make every bet as an investment.
And no way the term and its meaning exist in gambling, you'd better set up your business, this is where you can expect profit, not in gambling.

[un_rank]

It is more of crypto gambling than 'bitcoin gambling' and online casinos existed long before bitcoin, players could play from home and lose money faster.

Crypto being border-less makes it easier to deposit and withdraw, opening up players to lots of online casinos. But anyone losing money now would have done so still as there would be no shortage of local casinos and many countries do not make efforts to regulate them besides taxation.

- Jay -

[Cantsay]

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 don’t see gambling in general as an opportunity so for me the answer is going to be, I see bitcoin gambling as a trap and it’s going to leave not just the young but also the old, addicted and financially broke.

Few weeks ago, I think I read somewhere about a user complaining about suing bitcoin to gambling when it was worth nothing and if they had knew they’d have kept it and have thousands of dollars now - and that’s the same thing that’s about to happen again with the increasing rate of bitcoin casinos. A lot of youngsters would be deceived into thinking that they can easily win thousands from gambling and with the ease that comes with bitcoin casinos they might want to try it and if they’re not careful that little experience will lead to them getting addicted to it.

[Mia Chloe]

Is Bitcoin Gambling a big opportunity or a big trap?

Well it depends on if you are losing or winning. To start with you should not associate your hodlings with gambling actually because of how painful it would be if you eventually lost it. Anytime you deposit some bitcoins to your casino account it's best to assume you deposited normal fiat based on the current rate.

Trying to reflect back on how you lost some coins you could have held is actually not a nice experience. It's same situation with those that gambled via bitcoin when it was still less than $1,000. The did that based off the value of those coins at that time.

[peter0425]

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’m gonna have to say neither. Gambling is not a big opportunity for one to make money but it also doesn’t exactly mean that it will leave people addicted immediately and their lives will be ruined. It still depends on the person how they can use gambling in their life whether it is to entertain themselves or to ruin themselves?

[Onyeeze]

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.

it is obvious that online gambling is the thing that made some people to be addicted in gambling because they are not seeing the amount of money they are spending in gambling in eye all the money they are spending or they are using to credit casino platforms is being done by digit that is why they see many people get lost immediately then realize how much they on waste to participate in gambling, gambling physically or manually is the kind of gambling that will make you to know how much that you spend because you have the physical cash at hand in the moment you are betting, so that is why we need to plan ourselves very well before we go into gambling knowing that getting addition to gambling will not take us a minute

[DaNNy001]

Anything that has to do with gambling is never an opportunity, it's more of a trap especially when you are dealing with Bitcoin and other crypto currencies...There are people that were stuck with fiat currency and they used this to gamble for a long time until they got introduced to gambling with Bitcoin, some people made some profit while majority lost a fortune and they are still losing till date

[GiftedMAN]

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.

Anyone who thinks it's because of Bitcoin that makes gamblers addicted must be very delusional, bitcoin is just a means of deposit just like other coins accepted by some casinos for deposit gambling addiction is pioneered by several stuffs most especially greed therefore no one should blame bitcoin for getting them addicted to gambling.

[AYOBA]

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.

I think this will be a big trap. We all know that the Bitcoin and other cryptocurrencies has been accepted for each an everyone to made a payments with the bitcoins and so on, it’s true that the cryptocurrencies has made it easier to gamble with any currency, either cryptocurrency or the fiat currencies. But do you know that the risks involved cryptocurrencies gambling are high than  fiats currency? That’s why I will not say that is a big opportunity to gamble with a bitcoin rather that it will be a big trap, because not everyone knows how to gamble with bitcoin.

[goldkingcoiner]

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?

I do not consider gambling an opportunity for anything other than personal entertainment. And that is exactly how it should be seen by everyone, in order to maintain a healthy, focused and low-risk relationship with gambling. Anything else is delusion. Which is why people drive themselves to financial ruin in the first place: They buy into their own delusional fantasy of becoming rich quick or making a steady income.

Unregulated gambling is not going to help anyone. Unfortunately, I cannot say that Bitcoin somehow solves a problem by very successfully circumventing these regulations and rules set up by the government.

[Versatile_choice]

There is no betting site or Casinos that says that you must only bet with bitcoin, rather there are other crypto currencies that you can use to gamble if you don't also want to gamble with crypto currency I'm sure that you will be allowed to use USD to gamble so I don't even see anything like trap there. accept you're the one that choose to gamble with bitcoin, Ever since I started gambling i don't remembered gambling with crypto currency (BTC) not to talk of other coin, the only currency I make use of whenever I went to gamble is the USD. Even though some persons might choose to gamble with bitcoin but I don't think if that could be the reason why some people are now becoming addicted to gamble, because even those who are gambling with our local fiat still get addicted to it. So addiction is just a normal thing and can't be caused by the currency we are using to gamble.

[mcdouglasx]

I'm not sure that the inclusion of cryptocurrencies in the world of gambling attracts young people in particular. In fact, the way the world is today, young people are into other things and I don't think they have much interest in cryptocurrencies. I think this phenomenon occurs more among adults or people with technical knowledge, or passionate about technology... I don't know where you got the information from, but it would be interesting if you published the link where you saw said information or the study to verify what arguments it is based on.

[radjie]

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’m gonna have to say neither. Gambling is not a big opportunity for one to make money but it also doesn’t exactly mean that it will leave people addicted immediately and their lives will be ruined. It still depends on the person how they can use gambling in their life whether it is to entertain themselves or to ruin themselves?

It all depends on how they approach gambling. The main reason is generally the hope of winning a bet because they want a big jackpot. However, what can lead to addiction is the ease of accessing gambling sites from the palm of their hand, simply from their smartphone.
However, we cannot blame gambling itself, because the development of digital technology is increasingly sophisticated, and it all depends on how each individual can use it wisely.

[Asiska02]

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 first stage of controlling your young ones not to join gambling comes from you and not from the government. Having a proper upbringing among your kids and also watching how their socialization grows within the neighborhood and school environment is very important. These could further improve their sense of not joining gambling at early stage but see it as a no go area to delve in while growing. Regulations begin from home before government will take over when the issue escalates.

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?

Online bitcoin gambling sites are a very big opportunity to the people but only if they use them well. It can only be a big trap if you don’t know how to manage your gambling addiction while embracing this feature it offers. Being financially broke through gambling is from your own way of mismanaging your funds and putting what you can’t afford to lose to bet on games that the outcome is unknown. The advantage is clear but when misused, the disadvantages is been blamed upon which is wrong.

[mirakal]

It could be a big opportunity for those who knows how to maximize utilizing bitcoin in gambling, but for those who are still in the process of learning, that makes bitcoin is still unfamiliar for them, then it would be a big trap and eventually losing all their bitcoin before they realized it.

However, on the other side of it, as long as there is consistency in spending bitcoin, which means using bitcoin as a mode of payment, that is helpful for future global adoption. But more than that, gambling using bitcoin isn’t good at all if you aren’t inclined using it.

[Nwada001]

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?

Can you edit your title and the question and add cryptocurrency in general instead of using Bitcoin since we have more crypto casinos than just Bitcoin-only casinos, and the majority of people are using altcoins to gamble? Only a few poker sites are just Bitcoin only.



Any type of gambling leaves the same question, and the gambler is the person who will decide how they react to it. The only good thing now is that we have multiple options for how we can fund our casino accounts and place bets without even leaving our house. It's convenient for us, and we can use it as an opportunity, but for those who can't control themselves over such an option, it becomes a trap for them.

[Slow death]

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?

In the real world, there are electronic wallets that allow you to easily transfer money from your bank account to them, and then easily deposit it into a local casino or online betting site. However, I haven't seen any reports that this technology is causing the number of gambling addicts to rapidly increase to the point where it's considered alarming.

What could happen is a large increase in the number of people getting involved in gambling, given the ease that technology is offering. Of course, there will always be people who overdo it and become addicted. But this is normal in our society. Take, for example, the case of alcoholic beverages. There are many people who consume alcohol excessively and become addicted, but then why haven't governments banned all alcoholic beverage factories forever?

[Su-asa]

The truth is that without Bitcoin or crypto currency there have been gamble but it wasn't as easy as it is right because of the easy deposit and withdrawal methods. But what's really the problem is that like you have said already that it's easy to access gambling sites while sitting at home. So based on my perspectives the easy access to gamble is now the problem and not Bitcoin or crypto currency. Even without crypto currency but easy access to gamble people will still gamble while sitting at home. So crypto currency is not the issue but the easy access to gamble.

[nelson4lov]

~Snip

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?

What do you mean? Crypto casinos have been a thing for over a decade. Back in the day, there was a bitcoin sportbook that was totally anonymous and you would just play your bet and if it wins, the winnings are sent to address you specify and you get nothing if it losses.Well, that's beside the point.

If you think bitcoin gambling is designed to leave gamblers broke then you can also say the same about ALL gambling in general. At the end of the day, it all boils down to the fundamental factor in all gambling amd and that is taking risks.

[Josefjix]

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 same question should also go to the Fiat payment system let it not be that crypto is only poisoning the gambling industry, there are many Fiat based gambling app that's easily accessible by the youth and no one is complaining about it.

Bitcoin sites for gambling is never a trap, it's exposing users to the newest technology and payment option that bits the traditional ones, any user that fail to discipline himself with the new technology should be blamed not Bitcoin.