Is Bitcoin Gambling a big opportunity or a big trap?

[₿itcoin]

Yes, for young and unformed players this can be a problem, because they can be affected by many factors that make them raise their stakes. For example, it can be the bragging of peers who managed to win, and many players do not yet understand that no one will talk about losses, even among friends, but will just remain silent. Also, I would not neglect the impact on young players of the gaming influence of the Internet and social networks, in which many show expensive cars or vacations, which can act as a trigger for searching and making quick money, and the casino will be this place for them, and paying with bitcoin makes it even easier to do.

most often i've seen social media & peer pressure glam up the lifestyle & encourage young people to gamble. it is actually Bitcoin's blessing that now online casino evolved with more smoothly & with less stringent KYC cause we dont have to use fiat money, so there is low govt restriction. otherhand children could abuse this opportunity. like i have seen many children to buy diamonds on free fire and they borrow money to play those games, just imagine if they discover casino easily accessible what they could have done! ! Therefore, children should be kept away from these vibe as much as possible.

[bubilas]

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 modern era, people see Bitcoin as a blessing because it is the only way to financial freedom. In your context, I will say that if you use your assets on a gambling platform and lose, then you are responsible for it. Because you yourself have taken the decision to gamble. Bitcoin has given an opportunity to those who want to gamble anonymously, now if you use that opportunity and become an addicted gambler, it is definitely your own failure. It does not matter whether the gambler gambles with fiat or Bitcoin, the main focus is to control yourself and gamble responsibly.

Absolutely right and bitcoin is just one of the ways to replenish in online casinos, and also in online bookmakers it does not matter at all - this happens for dollars or for altcoins.

All the reasons for the defeat are only in the gambler's head, if he is not careful and does not control his time in the online casino at all, and also does not pay attention to the fact that today he is clearly unlucky - then such a guy will quickly lose everything he has, and at the same time will not get any pleasure from the game.

[passwordnow]

You know what. A decade ago or five years or more ago, we don't mind about gambling with our Bitcoins. We didn't know that it's value is going to be as big as it is today. So, I don't think that gambling with it is a trap. The effect that it has given us is more of a regret than a trap. There is no trap if we're not doing anything. And with this, it only means that we're gambling to have fun and as well as to take some profits if possible. Someone who's going to gamble with Bitcoin is also about to win/lose Bitcoin. It will make that gambler happier if he's won with Bitcoins, so there's no trap there and no bias should be applied.

[iBaba]

All vices, including gambling, are like playing with fire... If you are not careful, you can get into all kinds of trouble.

~~~~

I agree with what you're saying, dude. In the first place, we're the ones responsible if we face a bad outcome from gambling. That's because of the choices and decisions we made.

That's why before we even start gambling, we should already think of the money we're going to bet as good as gone.
Most of the time, gamblers lose in online casinos.

For many gamblers, until you leave, you will remain a gambler and will eventually turn to an addict if you don't put a wage and limits to yourself. I think what have made gambling so interesting to people is the money attached to it. Because it has monetary value, gambling has become more lucrative and the patronage have boosted massively due to the financial aspect that comes with it. I know and agree that gambling is fun, but guys, do you think it is the only fun part that have brought about the big name and attention gambling has gathered? I don't think so. The majority of the people gambling are engaged in it because of its financial benefits.

[Pandu Geddon]

The majority of the people gambling are engaged in it because of its financial benefits.

That's true, I agree with you. Right now, we cannot see the number of gamblers who come to gamble just for fun. The background of gambling is the financial profit it offers. Many hope to change their lives, and many gamblers who are not financially well-off come to try to change their lives.
 The ease of online gambling access and the variety of deposit methods are reasons for the current growth of gambling. Not to mention the minimal betting amounts.

[taufik123]

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 any problem with Bitcoin gambling for anyone as long as they are educated, especially fully educated about gambling and its impacts. So that young people who are just about to try it, or have already tried it, are already knowledgeable about it. Some time ago, this was a problem in my country, but fortunately, the government acted quickly by collaborating with many well-known influencers to warn and educate the public about gambling, especially young people, and I think the results have been quite effective. So the key is education, education can be obtained not only from schools but also from the surrounding environment, from home or family, government appeals, and so on.

Some of the people who enter into gambling are uneducated and have a low level of economy, because their main goal is to make more money by gambling.
But in the end it loses more money because the casino used is an illegal casino and only gives profits to the bookies.

We are in the same country in Indonesia and gambling is completely banned, let alone a lot of illegal gambling that comes with attractive bonuses and such.
It can be a trap and put a lot of people at a disadvantage.

Even though gambling is illegal in our country, it is better to choose a trusted casino like the one on this forum,
and it is just for entertainment for me, not to make more money because there is only a little money for gambling allocation.

[Hewlet]

You know what. A decade ago or five years or more ago, we don't mind about gambling with our Bitcoins. We didn't know that it's value is going to be as big as it is today. So, I don't think that gambling with it is a trap. The effect that it has given us is more of a regret than a trap. There is no trap if we're not doing anything. And with this, it only means that we're gambling to have fun and as well as to take some profits if possible.

The major concern is that there are so many motivations around us at the moment that drives us into gambling both on the forum and outside of the forum. because of those drive, it becomes easy to get oneself into gambling at any slightest opportunity available and unlike before that you can complain of lack of funds for your gambling, the casinos that runs her ad on the forum and pays directly to their betting site also by that means get users into gambling through such platform so easily.

of cause, from the point of view of having fun, you can easily see casinos around to use and with the ease of access to your bitcoin, it doesn't stress too much gambling with your coin but the fact that most bitcoin holders are after means of increasing their accumulation rather than causing it to go down when they lose in their gambling makes bitcoin gambling a trick in a way.

[o48o]

For many gamblers, until you leave, you will remain a gambler and will eventually turn to an addict if you don't put a wage and limits to yourself. I think what have made gambling so interesting to people is the money attached to it. Because it has monetary value, gambling has become more lucrative and the patronage have boosted massively due to the financial aspect that comes with it. I know and agree that gambling is fun, but guys, do you think it is the only fun part that have brought about the big name and attention gambling has gathered? I don't think so. The majority of the people gambling are engaged in it because of its financial benefits.

I would say that they engaged it because of financial opportunities, rather then benefits, because it's not beneficial for everyone.

Also, even if it would be about financial benefits, i am not sure how gambling with bitcoin would be more about financial benefits then gambling with fiat money. In hindsight, majority of us were probably better off just hodling it. At least i, and everyone i know would have, because change of combining winning and holding would have been highly unlikely.

[imamusma]

The majority of the people gambling are engaged in it because of its financial benefits.

That's true, I agree with you. Right now, we cannot see the number of gamblers who come to gamble just for fun. The background of gambling is the financial profit it offers. Many hope to change their lives, and many gamblers who are not financially well-off come to try to change their lives.
 The ease of online gambling access and the variety of deposit methods are reasons for the current growth of gambling. Not to mention the minimal betting amounts.

It's undeniable that the most influential factor is the minimum deposit limit, which encourages many people to try gambling. Additionally, it's easy for people today to apply for online loans, some of which are used for gambling. It's true that many people now gamble with the goal of winning, not just for entertainment. Of course, they know it's the wrong thing to do, and I am not surprised when I see why many poor people are more easily addicted than rich people. On the other hand, this reality may be a challenge for many governments in various countries that legalize gambling, they should tighten and better monitor gambling regulations.

[libert19]

...
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 am all in for giving people choices, and as such Bitcoin/crypto making gambling widespread is not a problem to me at all, and again, to gamble is people's own choice, no one forces them to gamble, so I don't see it as a trap tbh.

[danherbias07]

You know what. A decade ago or five years or more ago, we don't mind about gambling with our Bitcoins. We didn't know that it's value is going to be as big as it is today. So, I don't think that gambling with it is a trap. The effect that it has given us is more of a regret than a trap. There is no trap if we're not doing anything. And with this, it only means that we're gambling to have fun and as well as to take some profits if possible. Someone who's going to gamble with Bitcoin is also about to win/lose Bitcoin. It will make that gambler happier if he's won with Bitcoins, so there's no trap there and no bias should be applied.

In short, it's still a choice for every gambler whether they will risk their Bitcoin or keep it for themselves and let the value increase normally.

Some gamblers are also investors in Bitcoin. Let's consider them. What some would want is to increase the number of Bitcoins in their portfolio, and if they cannot buy more due to lack of finances, then I believe there's a chance they will think about gambling it. To accumulate more. I have had that kind of perspective before, and I gambled a lot of Bitcoin in the early stages of it because I wanted to hoard more. It's wrong, and yet it feels right if you double the amount of Bitcoin that you have.

[bubilas]

The majority of the people gambling are engaged in it because of its financial benefits.

That's true, I agree with you. Right now, we cannot see the number of gamblers who come to gamble just for fun. The background of gambling is the financial profit it offers. Many hope to change their lives, and many gamblers who are not financially well-off come to try to change their lives.
 The ease of online gambling access and the variety of deposit methods are reasons for the current growth of gambling. Not to mention the minimal betting amounts.

I think that if someone comes to gambling with the goal of changing their life, then this person is already setting the wrong goal for their path in gambling. And God forbid he has a huge sum of money with him and a desire to double it as quickly as possible.
Because such a person will either lose them after several gaming sessions, or he will win some part at the beginning, but it will seem insufficient to him and he will continue to play and play and will lose again. And I think that gambling is only for relaxation, but not for earning money.

[passwordnow]

You know what. A decade ago or five years or more ago, we don't mind about gambling with our Bitcoins. We didn't know that it's value is going to be as big as it is today. So, I don't think that gambling with it is a trap. The effect that it has given us is more of a regret than a trap. There is no trap if we're not doing anything. And with this, it only means that we're gambling to have fun and as well as to take some profits if possible. Someone who's going to gamble with Bitcoin is also about to win/lose Bitcoin. It will make that gambler happier if he's won with Bitcoins, so there's no trap there and no bias should be applied.

In short, it's still a choice for every gambler whether they will risk their Bitcoin or keep it for themselves and let the value increase normally.

Some gamblers are also investors in Bitcoin. Let's consider them. What some would want is to increase the number of Bitcoins in their portfolio, and if they cannot buy more due to lack of finances, then I believe there's a chance they will think about gambling it. To accumulate more. I have had that kind of perspective before, and I gambled a lot of Bitcoin in the early stages of it because I wanted to hoard more. It's wrong, and yet it feels right if you double the amount of Bitcoin that you have.

Yes, it all sums up to our choices. If we want to enjoy with the bitcoin's that we hold. The advantage now is that we're free to gamble with the holdings that we have and just take a little portion of it. The 1 mBTC before isn't that much but now it is, so as a holder you get to enjoy more of it now without having to sacrifice your entire holdings. Or just do it with the amounts in satoshis as long as it comes with the minimum limit and it's fine to gamble with that amount to not compromise your balance.

~snip~

The major concern is that there are so many motivations around us at the moment that drives us into gambling both on the forum and outside of the forum. because of those drive, it becomes easy to get oneself into gambling at any slightest opportunity available and unlike before that you can complain of lack of funds for your gambling, the casinos that runs her ad on the forum and pays directly to their betting site also by that means get users into gambling through such platform so easily.

of cause, from the point of view of having fun, you can easily see casinos around to use and with the ease of access to your bitcoin, it doesn't stress too much gambling with your coin but the fact that most bitcoin holders are after means of increasing their accumulation rather than causing it to go down when they lose in their gambling makes bitcoin gambling a trick in a way.

It is within the person, the gambler. If there is so much motivation and it really encourages you to gamble, you better stop looking at them or if you can't. Just always take control of the situation and don't gamble that much. At the end, it's still us who has the power if we'll gamble a lot or not with the btc that we have. If it's not likeable, there's always the alternative to do it.

[|MINER|]

I think that if someone comes to gambling with the goal of changing their life, then this person is already setting the wrong goal for their path in gambling. And God forbid he has a huge sum of money with him and a desire to double it as quickly as possible.
Because such a person will either lose them after several gaming sessions, or he will win some part at the beginning, but it will seem insufficient to him and he will continue to play and play and will lose again. And I think that gambling is only for relaxation, but not for earning money.

In fact, the end result of such people is depression and a stressful life because they do not take gambling as fun but take it seriously as their life goal and gradually become addicted gamblers as a result of which they cannot enjoy it at all. In most cases, due to lack of emotion control, they wager extra funds which they are capable of losing and finally the amount of loss keeps increasing and from this the next step is gambling with loans and in that case too they keep increasing the amount of debt day after day as a result they fall into an unhealthy depressed full life.

And the only way to come back from here is to initially accept gambling as a source of entertainment and spend the amount of funds that he can afford to lose.

[nullama]

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.

Yes, I think younger generations are using many apps and things like that to gamble and to move money around.

It is a great opportunity for companies and casinos to make a huge amount of money from them.

The older generation still values more the physical casino I think, unless there is some instagram photos opportunities there.

[Julien_Olynpic]

Gaming sites that allow you to fund your account with Bitcoin are both an advantage and a drawback. Is it convenient to fund your account with Bitcoin, or more precisely, Satoshi? To some extent, yes, but faster coins like Litecoin are much more convenient. It's more convenient and more anonymous than funding with fiat currency, but anonymity is almost completely destroyed by subsequent KYC. Furthermore, if you gamble, especially casino games, there's a 99.99% chance you'll lose your funds. Bitcoin is a good investment, but burning your Bitcoin on gambling, in my opinion, isn't exactly the right decision.

[tread93]

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.

You know its kind of cool that there are so many options though to gamble with bitcoin and crypto. I remember when there was far less adoption than today and jt was one of the only things we could do with bitcoin. Man have we come a long way

[Pi-network314159]

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 site has nothing to do with young people getting addicted and financially broke, because gambling and losing is by choice and not by Force. I believe those who gambles knows the risk involve before they do so, and meanwhile gambling on crypto Casino doesn't change anything, Both of them crypto Casino and fiat or traditional casino are thesame thing when it comes to addiction. Addiction is the act or process of continuously gambling even when you are out of find or when you don't even want to gamble you find one way or the other to gamble and this happens in both of the Gambling sectors so gambling addiction is not determineed by the type of casino but the kind of person gambling.

[Grace333]

In which context is the greatest opportunity: is it for bitcoin to continue to rise due to its use in gambling? Or is it an opportunity to earn more bitcoin? Or is it an opportunity to improve our finances? Of these three, I would answer YES to the first, because it must be admitted that the initial reason bitcoin became popular was partly due to its use in gambling. The second and third are uncertain, as there are win-lose factors and losses can be even greater. Furthermore we already know that gambling is a business, not a charity.
The problem isn't bitcoin gambling but rather online gambling which is now easily accessible, leading to an increasing addiction problem. In this case it's up to each individual to gamble responsibly.

Bitcoin itself is not the real problem, it is more about how people use it. Gambling just happens to be one of the ways Bitcoin gained more traction, but that does not automatically make it a sustainable opportunity.     
For some, it might look like a quick way to grow their coins, but in reality, the risks are even higher since you can lose both your money and your Bitcoin.  The real opportunity with Bitcoin lies in holding, investing wisely, and using it as a tool for financial freedom, not depending on gambling, which is mostly designed for the house to win…

[Ishicryptic]

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 site has nothing to do with young people getting addicted and financially broke, because gambling and losing is by choice and not by Force. I believe those who gambles knows the risk involve before they do so, and meanwhile gambling on crypto Casino doesn't change anything, Both of them crypto Casino and fiat or traditional casino are thesame thing when it comes to addiction. Addiction is the act or process of continuously gambling even when you are out of find or when you don't even want to gamble you find one way or the other to gamble and this happens in both of the Gambling sectors so gambling addiction is not determineed by the type of casino but the kind of person gambling.

I agree with you, online gambling and gambling with Bitcoin has little or nothing to do with addiction, you can choose to use another coin or fiat to gamble, what makes gamblers to be addicted is lack of self control. Online gambling have increased the number of people that gambles but what causes addiction is character, if you are not disciplined you will become addicted. People who don't know how to apply moderation in things that they engage in will most likely become addicted to it, whether it's gambling, drinking or singing if you don't know when to stop it means that you are addicted to it.