Is Bitcoin still king of crypto gambling, or have stablecoins taken the crown?

[PX-Z]

But now with KYC everywhere, BTC doesn’t really give that privacy edge anymore. Add the price swings, and stablecoins (USDT, USDC, etc.) start to look more practical for gamblers.

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

As if stablecoins have the advantage compare to bitcoin in privacy related issues. In practice, stablecoin transactions often come with higher costs, usually around $1 in exchange fees (not sure about custodial wallets, since I never send stablecoins from those). Meanwhile, Bitcoin has enjoyed some of the lowest transaction fees in months, making it cheaper to move funds on-chain right now, which is what im doing when depositing to a casino.

[happybitcoinph]

I think even the KYC situation is not an issue; most users nowadays will practically use stablecoins or any other altcoins for various reasons:

- low transaction fees, especially from exchanges to gambling platforms
- transaction speed
- several network chain options
- less volatile
- hard to spend BTC nowadays due to its non-stop road to the moon progress, and we want to make sure we hold some

[OgNasty]

I touched before on how casinos prefer their users use stablecoins because they can earn interest while the funds sit on their platform. Another advantage is that stablecoins can also be frozen. That drastically reduces not only the risk of not being able to recover funds from a hack, but it also makes the casino a much less attractive target.

[ultrloa]

But now with KYC everywhere, BTC doesn’t really give that privacy edge anymore. Add the price swings, and stablecoins (USDT, USDC, etc.) start to look more practical for gamblers.

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

As if stablecoins have the advantage compare to bitcoin in privacy related issues. In practice, stablecoin transactions often come with higher costs, usually around $1 in exchange fees (not sure about custodial wallets, since I never send stablecoins from those). Meanwhile, Bitcoin has enjoyed some of the lowest transaction fees in months, making it cheaper to move funds on-chain right now, which is what im doing when depositing to a casino.

I think the narrative change now towards its usage since there are people don't want to use Bitcoin because they think that this coin is good for investment. If you look at the activities happening in your favorite casino most of players are using if not stable coin they are using other altcoins.

I myself don't want to use Bitcoin since I think its not really good to use that for gambling. But also I think the decision will depends on what people really like to deposit since somehow those concerns about high fees before has been eliminated since Bitcoin now offer cheap fees since there's no further issues yet bothers the network.

[WhoYouCantKill]

Bitcoin was actually the originator in gambling crypto, without doubt, players got compelled with speed, privacy and the fun of making use of new currency. Though now, stablecoins seems to be making more sense for some gamblers. They tried to avoid price swings, broadly accepted and less stressful to cash out not having to lose worth.
Therefore as Bitcoin yet has symbolic status, in practice stablecoins has already owned the crown for the use of gambling.

[Dr.Bitcoin_Strange]

Bitcoin was actually the originator in gambling crypto, without doubt, players got compelled with speed, privacy and the fun of making use of new currency. Though now, stablecoins seems to be making more sense for some gamblers. They tried to avoid price swings, broadly accepted and less stressful to cash out not having to lose worth.
Therefore as Bitcoin yet has symbolic status, in practice stablecoins has already owned the crown for the use of gambling.

Yes, I am making a research, based on my observation so far, fiat is mostly used in betting, other stable coins and  altcoins  are at top Bitcoin is still being used by many people but not the way it was in the past when majority of players spend houreds of Bitcoin daily in gambling.

[hedgeh0g]

Bitcoin was actually the originator in gambling crypto, without doubt, players got compelled with speed, privacy and the fun of making use of new currency. Though now, stablecoins seems to be making more sense for some gamblers. They tried to avoid price swings, broadly accepted and less stressful to cash out not having to lose worth.
Therefore as Bitcoin yet has symbolic status, in practice stablecoins has already owned the crown for the use of gambling.

Stablecoins are undoubtedly important in crypto gambling, as many players simply swap Bitcoin for stablecoins for convenience or to weather market declines, even if this is rare for Bitcoin. In any case, I wouldn't single out a leader, but would simply note that Bitcoin was the pioneer of crypto gambling, and stablecoins are simply a useful feature that every player needs, which has undoubtedly had a positive impact on both gambling and cryptocurrency in general. Altcoins aren't particularly important; some players simply find it convenient to deposit certain cryptocurrencies into their wallets.

[Slow death]

Bitcoin was actually the originator in gambling crypto, without doubt, players got compelled with speed, privacy and the fun of making use of new currency. Though now, stablecoins seems to be making more sense for some gamblers. They tried to avoid price swings, broadly accepted and less stressful to cash out not having to lose worth.
Therefore as Bitcoin yet has symbolic status, in practice stablecoins has already owned the crown for the use of gambling.

Yes, I am making a research, based on my observation so far, fiat is mostly used in betting, other stable coins and  altcoins  are at top Bitcoin is still being used by many people but not the way it was in the past when majority of players spend houreds of Bitcoin daily in gambling.

I agree with you, with the increase in the price of Bitcoin and even in times of decline, people started to see Bitcoin as a safe investment, so for them, it's better to leave Bitcoin in the wallet in the long term and use altcoins to play in casinos. Before, I thought that people would be leaving Bitcoin to use altcoins because of the transaction fees, but then I realized that wasn't the case.

Because nowadays, withdrawal fees at casinos, even using Bitcoin, I don't see a big difference compared to using altcoins. Maybe I'm seeing it wrong, but honestly, I personally don't see that difference. For example, the Bitcoin withdrawal fee on Stake is $1.86 in Bitcoin, while the USDT withdrawal fee is $1, so it's not a big difference.

[Julien_Olynpic]

Bitcoin still seems to reign supreme in crypto gambling, though I find it both amusing and confusing. Bitcoin is quite slow and not the most convenient tool for depositing and withdrawing profits. Especially for deposits. Furthermore, during periods of high fees, it's nearly impossible to use, and then gamblers switch to cryptocurrencies with low fees. These are primarily USDT on various networks, Ethereum, and Litecoin. Incidentally, Bitcoin is available not only on the native network, but also in a wrapped form on other networks, such as BNB. In this wrapped form, Bitcoin is arguably free of many of its shortcomings. However, Bitcoin on the native network is actually quite suitable for withdrawals.

[Fivestar4everMVP]

Bitcoin was actually the originator in gambling crypto, without doubt, players got compelled with speed, privacy and the fun of making use of new currency. Though now, stablecoins seems to be making more sense for some gamblers. They tried to avoid price swings, broadly accepted and less stressful to cash out not having to lose worth.
Therefore as Bitcoin yet has symbolic status, in practice stablecoins has already owned the crown for the use of gambling.

Yeah, stable coin have taken over from bitcoin while on the other hand, bitcoin have simply upgraded, and this is not to say that there aren't still gambler out there who make use of bitcoin, there are, alot if I may say, but then, the only thing is that Bitcoin no longer fits in as a currency that should be spent on gambling, but then, I understand that those who are still spending bitcoin are those with lots of money...

Bitcoin is much better now as a store of value, an asset that should be invested in and kept for future price increase which brings in alot of profit to the owner/investor.
Gambling with stable coin I presume will be even less stressful for the casino's algorithm because it has nothing to convert, but when one is playing using bitcoin, the algorithm will have to be converting the appropriate number of bitcoin sats allocated for a bet into its dollar equivalent, and the player also stand a chance of getting cheated when and if the algorithms fail to exchange the bitcoin at the normal market price.

[Oluwa-btc]

Bitcoin is still relevant in crypto gambling,but with stablecoins in the picture,it shows there's competition between them.Even so,Bitcoin remains a king in so many people's eyes.The thing with most Gamblers is that Stablecoins advantages outweighs that of Bitcoin and the reason why it continues to gain more dominance and relevance in the Gambling industry.

[dezoel]

BTC is huge before in a sense that there is no stable coin, KYC and stuff but the number of BTC casinos now is still much more.

Yes, BTC gambling helps people to get exposed in Bitcoin because on the casino that I play many people there only discovered BTC through it. Many of them are not even a member of this forum when Bitcointalk is already popular even before. BTC is not fully anonymous and then bets are not actually instant since there is some confirmation when making a deposit. BTC is also not stable but it doesn't stop people from using it. Even though there is KYC now, there must still be decentralized betting sites that one can use. This is the reason on why stable coins can't totally penetrate and replace BTC despite of their noticeable growth.

[LUCKMCFLY]

I would say that BTC is still the King, but stablecoins have become very famous so their fees are low when it comes to withdrawing, and there is not as much congestion as when the BTC rises a lot in price, I would not see BTC as an investment in the game, because the game is a game and there is no possibility of seeing it as an investment, it is only a matter of taste how it enters into it, but if I see a casino that does not have BTC I do not play.

[shasan]

I would say that BTC is still the King, but stablecoins have become very famous so their fees are low when it comes to withdrawing, and there is not as much congestion as when the BTC rises a lot in price, I would not see BTC as an investment in the game, because the game is a game and there is no possibility of seeing it as an investment, it is only a matter of taste how it enters into it, but if I see a casino that does not have BTC I do not play.

It is correct that stablecoins and/or altcoins are becoming very popular day by day and the fees are too low considering bitcoin but there is still too much away to reach the target of bitcoin. Bitcoin is still in the highest peak of the gambling currency and it will be for a long time. Those who accept crypto they must have the option of bitcoin.

[Porfirii]

-snip-

But now with KYC everywhere, BTC doesn’t really give that privacy edge anymore. Add the price swings, and stablecoins (USDT, USDC, etc.) start to look more practical for gamblers.

So what do you think - is Bitcoin still the king of crypto gambling, or have stablecoins already replaced it?

I don't think many crypto-gamblers mind about the price swings. For me, in fact, it is a feature, not a downside gambling on steroids. Many of those who, like me, have lived several cycles and know what bull runs, bear markets and long accumulations mean, won't prefer stablecoins IMO if fees are not abusive. At least I don't. But maybe newbies do it and that's why they're becoming more and more popular.

[LUCKMCFLY]

Those who accept crypto they must have the option of bitcoin.

I totally agree with you, for me these are the things we should always consider, I know there are casinos that only have alts but to be honest I don't trust them, nothing better than having BTC and being a really trustworthy casino, if there isn't or they don't accept BTC I don't play.

[finaleshot2016]

Those who accept crypto they must have the option of bitcoin.

I totally agree with you, for me these are the things we should always consider, I know there are casinos that only have alts but to be honest I don't trust them, nothing better than having BTC and being a really trustworthy casino, if there isn't or they don't accept BTC I don't play.

True but of course maybe some gambling platforms just prioritize those alts than BTC which doesn't make sense. Also, fees aren't even an issue nowadays so BTC should be always included to all of the gambling platforms. Imagine, you're a btc maxi and those gambling platforms you've checked doesn't have BTC option, it's a major turn off to be honest. And besides, there are many people who still prioritize BTC gambling than stables, it's like perpetuals, they risk BTC more because of high-risk high reward, not stables.

[joniboini]

True but of course maybe some gambling platforms just prioritize those alts than BTC which doesn't make sense. Also, fees aren't even an issue nowadays so BTC should be always included to all of the gambling platforms.

Which platform prioritizes alts, though? And what does it mean by prioritizing alts? Are you saying they give better promos to altcoin users or something else? The only thing I can think of why they don't offer BTC option is because they don't have the infrastructure or manpower to do it, and they prefer alts because the fees and confirmation are faster. But that in itself is debatable, considering how many payment processors offer BTC/alts combination (it's another problem if they can't find one). Even then, running your own payment processor shouldn't be that difficult imo (for BTC only).

[WhoYouCantKill]

It was Bitcoin that started the cryptocurrency wave in gambling, though stablecoins has taken over in practicality. Players presently choose USDT or USDC because they are more stable, faster, and they avoid price volatility. Bitcoin yet holds prestige and certain old school supporters, yet in present day crypto casinos, stablecoins remains the real king.

[LFC_Bitcoin]

I love Bitcoin, it’s my favourite investment asset by far but not for gambling. It’s too slow to confirm sometimes and if you want to deposit to a sportsbook or casino to put a bet on quickly then sadly Bitcoin is not the coin to use.

Also volatility can play a factor. It’s not great to deposit and place a bet to then see Bitcoin dump 10% before the bet has played out. Obviously it can work the other way and go up 10% but it’s not worth the risk. Gambling is already tricky enough without worrying about BTC/USD exchange rate screwing me over too. It’s best to use stablecoins in my opinion.