Is Bitcoin Gambling a big opportunity or a big trap?

[Grace333]

TBH, Gambling might look like a quick opportunity at first glance, but deep down it is really more of a trap than anything else.. The excitement of winning once or twice can trick people into thinking there is a real chance to build wealth from it, but the odds are never truly in your favor… That is why most people end up chasing losses instead of profits..   I am not saying people can not enjoy it as entertainment, but once someone starts seeing it as a financial plan, that is where the danger comes. It gives short term kidda vibes but in the long run it takes more than it gives…

[rachael9385]

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?

Gambling isn't an opportunity even though there is a possibility of winning. Since crypto gambling became popular the rate of losses in gambling has I creased drastically because people are trying to earn fast. Bitcoin gambling is a trap, you are at risk of losing a valuable asset whenever you stake with it. Instead of gambling with Bitcoin it's way better to put it into an investment that's a long term

[Alphakilo]

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 both of them.

It is both an opportunity and a big trap.
As an opportunity , from my own experience as a gambler  on online platforms , I have made a lot money from it. And it was stress free. I also lost money too.

As a trap, if I pursued those losses,  I would enter the trap of becoming addicted to it.The thought that if you lose you can quickly deposit and recover the loss. But this is also a feature of fiat gambling.

[lienfaye]

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?

Gambling is a game of luck and should not be treated as an opportunity to make money. Because if that's your goal for engaging yourself, then you'll likely become financially broke since gaining is not guaranteed.

The reason why it's not advisable to use a money that you can't live without, that is the basic rule. However, many gamblers are still blinded by the huge profit if ever they hit the jackpot. The question is, how much are you willing to lose till then. It's a big risk and gamblers must know the consequences for doing so. Discipline is important in order to control and limit ourselves.

[GeorgeJohn]

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.

There's things we misunderstood in gambling and Bitcoin, from the onset gambling has been into existence, but many people who is into gambling knows already that gambling have started from long time ago,

The impacts Bitcoin created in gambling is that, Bitcoin make it easier to funds some gambling websites, so we need to understand such theory, because gambling is not something without bitcoin it will not function properly, from my understanding, it seems that gambling create more awareness to bitcoin, gambling is like the pathway that fuels the Skyrocket or popularities of Bitcoin.

[Ivystar5]

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?

People get trapped with rewards and bitcoin gambling sites are not the promisers of reward, putting focus on bitcoin gambling sites make it sound exclusive to other gambling sites which do not offer bitcoin as payment method or gambling method however the closest reason why people are getting addicted is the high rate of poverty rading the people, and gambling is some sort of solution to people who believe in it, but however in the quest of getting out of poverty they get trapped in the gambling processes.

[STT]

I always think gambling with crypto should be safer then playing with your 'normal' cash directly in an unlimited way but that idea relies on separating the two types of account.

   If you keep a separate balance of Bitcoin and only gamble that, stopping if you use it all up for the month then its a good control but you just mix the two freely and perhaps accidentally spend money you owe for forthcoming bills then its possibly worse from convenience over physically needing to goto a location to gamble.
   Its on the person themselves to self limit how much they keep available to gamble, some sites will aid that limit in settings but its really down to good practice and habit.

[DPHOR]

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.

Addiction does not know where you are gambling from, you could start small in gambling and becoming too big for expenses, that is why I do respect. Although partially you could be right since they don't funds their gambling wallet and either passing through me. It was my first of make that gambling fruitful.

[Fivestar4everMVP]

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?

Well, I think bitcoin gambling sites as you referred to it as, or online crypto currency casinos, are neither a big opportunity for young people, but it's also not a big trap either.
Online crypto casinos is maybe somewhere in-between a big opportunity and big trap, and I say this because gambling generally is either good or bad, it all depends on our manner of approach; that is, our experience in gambling will solely depend on how we treat it, for example, you treat gambling like it's a business, this simply means that you will have to gamble every day and would depend on it for livelihood, something that all gamblers are highly discouraged from doing because this could destroy life and great destiny.

On the other hand, one could choose to treat gambling as a fun venture, play only with an amount of money he can easily afford to lose, this person would enjoy and have a good experience with it because he is gambling for the right reasons, people like this could one day get the opportunity of winning big from gambling, while other person who's livelihood depends on gambling, gambling may become a big trap for him because even though he potential of winning big is there, but he will still likely squander it all and lose the money back to the casino where the win came from.

[Samlucky O]

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?

Both crypto casino site and Fiat betting or gambling site has the ability to make a Gambler addicted since it all involve money. Getting addicted is by individual choice and not by crypto Casino. Just as the question implies, gambling itself is a trap and this trap has nothing to do with weather it's a crypto Casino or fiat gambling. It is important that gamblers gamble responsibly inrespective of the type of gambling they are into because all has the power to make you go broke if you don gamble wisely and responsibly.

[Text]

I think it’s a bit of both an opportunity and a trap depending on how people approach it. So for me it’s not all good or all bad. The tech itself isn’t the problem, it’s how people use it and how or if governments manage to regulate it. For casual players like me who know our limits it can be entertaining and efficient. But for vulnerable people it’s almost designed to be a trap.

[nullama]

~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?

Bitcoin gambling is the same as fiat gambling really.

When you spend, it doesn't really matter what you're spending because the intrinsic value of Bitcoin and fiat at that point is the same.

But, gambling in general means that you will lose all your money in the end, so it's a bit sad for someone to lose all their Bitcoin.

On the other side, someone else is getting all of that Bitcoin, so good for them

[michellee]

The growth of the Internet gives a big chance for online casinos especially crypto casinos to grow. People don't have to go to physical casinos to playing gambling and they can use their mobile phone or laptop at home connecting to the Internet.

While crypto gives ease to playing gambling, which attracts more attention from the young generation. People can buy crypto from many places and deposit it into their gambling account. This allows them to start gambling from their home or other places and provides an easy way to gamble.

But that also triggers more problems for the young generation because many of them become addicted to gambling. Many young generations have unstable emotions so which can make them deeper in gambling without realizing. That will depend on how they react to gambling and how they use gambling responsibly.

[Hewlet]

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 depends on the approach the gamblers uses and the mentality of the gambler but in most cases, because of the greed in the heart of most youths, it's becoming certain that the part we are headed might produce more of addicted gambler than we hard years back.

Undenied access to things always comes with it own disadvantages and at the core of it is the potential abuse by users. If you even threaten to block or restrict players in a locally, it doesn't boarder them any longer because with VPN, they still have access to other platforms that allows them to gamble through crypto. the other part of unregulated crypto gambling being on the rise is that it sure has the potential of leading to addiction in the long run.

[bitzizzix]

If you're a skilled gambler and have a strategy or tactic for playing smart, such as quitting while you're ahead, regardless of the amount, Bitcoin can be a great opportunity. And I don't mean being an expert or having a strategy to beat the casino, because no one can beat the casino.

And as long as you play very carefully and always quit while you're ahead, you can use your Bitcoin winnings to transfer directly to your Bitcoin wallet, instead of accumulating them through gambling and holding them long-term. This can be a great opportunity as long as you manage it well.

And if anyone says gambling addiction is caused by gambling with Bitcoin, I strongly disagree, because this isn't about Bitcoin or fiat currencies, but about problem gamblers.

[shield132]

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?

Bitcoin gambling is not an opportunity or a trap because it's not something magical. I like Bitcoin gambling in a way that it doesn't show up in my history. For example, you can't start working in a local bank in my country if you have a history of gambling. They can only check this history in local casinos but they can't check it in global crypto casinos. Why should I be discriminated if I don't have gambling problems and want to get some fun via this form of entertainment? One of my job was prohibiting me from gambling but crypto casinos did me a favour.

[@nn@_pen9]

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 essence, gambling is the same whether it is traditional or online, as you said above, it is true that gambling can make money very quickly, but we must be fully aware that gambling cannot be relied on to fulfill our needs or desires. It would be better if we gamble just for fun and we must control all of our emotions while playing and set limits on the money we spend, so that we are not too stressed about spending our money on gambling.

[danherbias07]

It depends on the person who will gamble. It can be a ruin for him, or it could be good for him. Mostly chaos, honestly.

IMO, it's a waste of Bitcoin, I'd rather use fiat or my main currency rather than using Bitcoin or other cryptocurrencies that are still increasing in value. We all know that Bitcoin is still in the process of becoming popular in the world as an asset, and it's not even naturally as a currency, so it's best if we can keep it until a time comes when it's normal to use Bitcoin.

For young ones, it is definitely a trap for them because they are aggressive and might lose a lot of money by gambling at an early age.

[TravelMug]

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?

If you go with your argument, then crypto base gambling is similar to fiat base or playing in land base casinos. It will have a side effect no matter what, so we shouldn't put a blame on those crypto base platform.

Afterall, we all know that side effects of gambling already, and so if we did go and be a crypto gambler then it's our choice. And again, maybe some of us have self control and play just for fun and entertainment. So there is no trap here, it's just the usual gambling pros and cons that is going to be debatable.

[arwin100]

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?

If you go with your argument, then crypto base gambling is similar to fiat base or playing in land base casinos. It will have a side effect no matter what, so we shouldn't put a blame on those crypto base platform.

Afterall, we all know that side effects of gambling already, and so if we did go and be a crypto gambler then it's our choice. And again, maybe some of us have self control and play just for fun and entertainment. So there is no trap here, it's just the usual gambling pros and cons that is going to be debatable.

Whatever currency they use it still have a chance that they might experience those worse situation they can't afford to happen especially if they don't have good discipline.

Also its not about either you are using Bitcoin or fiat since those trap things will base depends on the actions we have done while playing. If we have good self control or have risk management towards everything we do on gambling then I guess we don't need to worry about since I guess we are fine with that situation.

The advantage of using Bitcoin is we can gamble without getting to much issue on regulation on other strict stuff issued by government.