Do you play in crypto casinos when the crypto market is bearish?

[MiF]

Some stop playing when the charts turn red (like what is going on now), while others see it as the perfect time to stay active. Volatility affects mindset, not just portfolios. What’s your approach when the market dips, do you keep spinning & betting on sports or you stop playing for a while?

If the crypto or Bitcoin you have is meant for invedting their is no need for you to tamper with it to gamble whether the market is going up or down. For me I think most gamblers dont even keep volatile asset for gambling,  it is mostly in usdt and maybe Bitcoin is needed they can convert it from Bitcoin to usdt. Volatile asset like Bitcoin is for hodling and if you are not hodling I dont see reason why you have volatile asset for gambling which can fall anytime.

Gambling I always prefer to gamble with USDT. Because there is no big hassle or worry about my money going down with the price of Bitcoin. Most of the time it is seen that when the price of Bitcoin goes down, the prices of other coins also go down a lot which is why I try to stay away from these coins when I gamble.

[CryptoHeadlineNews]

Some stop playing when the charts turn red (like what is going on now), while others see it as the perfect time to stay active. Volatility affects mindset, not just portfolios. What’s your approach when the market dips, do you keep spinning & betting on sports or you stop playing for a while?

If I have a game to play on a crypto casino and the market becomes volatile and dip, that wouldn't stop me from playing my game, despite the fact that the value of the money I had in my casino account might reduce due to the volatile nature of the market. Because refusing to play the game you intended to play wouldn't still stop the market from becoming volatile the more. Because inasmuch as the amount I initially deposited into the casino was what I could afford to lose and before playing the bet, I lost I few dollar or cent. It shouldn't stop me from trying my luck, because who knows, you might be lucky to win a jackpot. Hence, for me personally, the market doesn't affect my gambling decision.

[GeorgeJohn]

A real gambler will partake in the gambling at its convenient time, I believe that neither the price of bitcoins is in bearish or bullish season it will not affect any gambler, any gambler who is interested to gamble for its detriment will not consider the fact of bitcoin price neither is going up or going down, so I believe gamblers stake any game been spinning, dice and casino whenever the cash is available

From my observation in gambling,people gambles when they have the cash, but a process whereby they don’t have cash to gamble it’s when they will reason if bitcoins is on dip or not, so for me, neither bitcoin is on dip I will gamble at my convenient time

[coolcoinz]

Yes, but I will play using fiat money converted to crypto.

Let's say I hold bitcoin and it starts falling to the point where I'm no longer comfortable spending like -30% from the all time high, I will start using my fiat money for everything and hold/stack more crypto. I usually go into a spending mode when the price is at least 30% up on a given year and if it's down 30% I go into a saving mode and get more.

I earn cryptocurrency and fiat every month, so in bad months I will obviously spend fiat and when crypto is pumping like crazy I will spend crypto.

[AbuBhakar]

A real gambler will partake in the gambling at its convenient time, I believe that neither the price of bitcoins is in bearish or bullish season it will not affect any gambler, any gambler who is interested to gamble for its detriment will not consider the fact of bitcoin price neither is going up or going down, so I believe gamblers stake any game been spinning, dice and casino whenever the cash is available

From my observation in gambling,people gambles when they have the cash, but a process whereby they don’t have cash to gamble it’s when they will reason if bitcoins is on dip or not, so for me, neither bitcoin is on dip I will gamble at my convenient time

There’s some time in my gambling experience that I hesitate to gamble when the market is bearish because my holdings is on crypto which I want to preserve the value and wait for the market to recover before I start to gambling using the profit.

I don’t have problem on gambling on bearish market when my crypto assets is on stablecoin.

I believe this is same scenario that can happen to all user that do spot trading and gambling.

[Cyber_warrior]

Some stop playing when the charts turn red (like what is going on now), while others see it as the perfect time to stay active. Volatility affects mindset, not just portfolios. What’s your approach when the market dips, do you keep spinning & betting on sports or you stop playing for a while?

When there is dip in the market, I don’t gamble because of that, whenever I notice that there is dip in the market, I will rather take a rest during that period instead of trying to gamble. If you decide to switch from trading to gambling just because there is dip in the market, how sure are you that when you start gambling, you won’t be losing also? I do tell people that their primary aim of joining gambling is to have fun, whenever they are lucky and they win, they can just make use of the money, but anyone shouldn’t make their primary aim to be money if you are gambling.

[_BlackStar]

Whatever the market conditions - gamblers will still gamble, they do it because crypto is a currency rather than an asset. Sluggish market conditions don't make them lose interest in gambling - some gamblers actually enjoy it more because they have the possibility of winning more crypto when the market price is lower. But about me - I don't gamble based on market conditions, but I gamble when I want to and actually have the money to do so.

[mcdouglasx]

Well, perhaps this question is out of context right now, since if you bet on crypto, you win crypto. Therefore, if your intention is to win, the market context shouldn't matter. It's like if Bitcoin fell to 30k and you bet 1 BTC, win 3 BTC, and wait for it to rise, you'll have won proportionally. So, the market shouldn't be an ideal or logical source for deciding whether or not to bet. That's only logical in cases where it's purely an expense, where you won't recover if the currency goes up again. It's like the pizza story: in the context of pizza, at that time, it wasn't impressive, but today nobody would ever spend that amount. On the other hand, if someone had bet 10k Bitcoin back then and won 100k Bitcoin, today it would be seen as a milestone.

[dwyane36]

Whatever the market conditions - gamblers will still gamble, they do it because crypto is a currency rather than an asset. Sluggish market conditions don't make them lose interest in gambling - some gamblers actually enjoy it more because they have the possibility of winning more crypto when the market price is lower. But about me - I don't gamble based on market conditions, but I gamble when I want to and actually have the money to do so.

Yes, gambling platforms will always be in demand regardless of whether the market is bullish or bearish. I mean, if the market is bullish and many traders have made money, some of them will surely go and spend their extra cash at the casino. At the same time, if the market is bearish and many traders have been liquidated, some of them will probably want to cool off and take a break from trading, and that’s when they end up looking for some entertainment on gambling platforms.

[michellee]

If the market dips, my approach is to stay calm and take a rest. That is good for me because I can forget about crypto for a while. But I can playing gambling including placing a bet for the match that I know the team. But at other times, if my real life is very busy, I am not involved in gambling.

Taking a rest is good for calming down our minds. You don't need to keep gambling and choose to enjoy your time by doing something else. You can return to the casino other days.

[Taskford]

Whatever the market conditions - gamblers will still gamble, they do it because crypto is a currency rather than an asset. Sluggish market conditions don't make them lose interest in gambling - some gamblers actually enjoy it more because they have the possibility of winning more crypto when the market price is lower. But about me - I don't gamble based on market conditions, but I gamble when I want to and actually have the money to do so.

Yes, gambling platforms will always be in demand regardless of whether the market is bullish or bearish. I mean, if the market is bullish and many traders have made money, some of them will surely go and spend their extra cash at the casino. At the same time, if the market is bearish and many traders have been liquidated, some of them will probably want to cool off and take a break from trading, and that’s when they end up looking for some entertainment on gambling platforms.

Exactly because people provably won't care about the price since their main intention is to gamble and have fun. They are not doing any trades with their funds.

So same with you I continue to gamble but my alt choices would provably became different since I'd provably choose less volatile alts at that time to avoid getting bothered by possible big price crash of some alts.

Provably only traders would take a break and gamblers will continue to play.

[bettercrypto]

Some stop playing when the charts turn red (like what is going on now), while others see it as the perfect time to stay active. Volatility affects mindset, not just portfolios. What’s your approach when the market dips, do you keep spinning & betting on sports or you stop playing for a while?

A bull or bear market has nothing to do with whether we want to gamble, especially if the gambler's motive is simply to enjoy themselves at the casino or momentarily forget the problems they're going through in real life. As far as I know, bear or bull markets only matter to genuine crypto traders, not to gamblers who play at online casinos within the crypto space.

Besides, how can they possibly adopt such a mindset when the gambler themselves believes that winning a substantial amount is purely based on luck?

[Mpamaegbu]

I don't even see any direct relationship between the volatility in the market and gambling, apart from the fact when deposits dip if they're not in stablecoin. Gambling isn't economics. It's not affected by what happens in respect to trades and government financial policies like stocks and FX would react. No, it doesn't. I'm nonchalant towards whatever the market does if I were going to gamble at a time market is dumping. The only way I believe market can affect gambling is when a gambler is having a bad day from market dump and their portfolio has been depleted going into gambling. In a situation like that, it's better for them to steer clear of gambling to calm their nerves.

[_act_]

Gambling I always prefer to gamble with USDT. Because there is no big hassle or worry about my money going down with the price of Bitcoin. Most of the time it is seen that when the price of Bitcoin goes down, the prices of other coins also go down a lot which is why I try to stay away from these coins when I gamble.

The money I have in mu gambling account is considered lost by me, bitcoin is not also really volatile. That makes me use bitcoin to gamble, but I also use coins like litecoin sometime, while I also prefer to use USDT and USDC to gamble. The coins that I can not use to gamble are shit coins like Trump and those other volatile coins. I am very surprised that many gambling sites list a coin like Trump.

[Altryist]

Yes, gambling platforms will always be in demand regardless of whether the market is bullish or bearish. I mean, if the market is bullish and many traders have made money, some of them will surely go and spend their extra cash at the casino. At the same time, if the market is bearish and many traders have been liquidated, some of them will probably want to cool off and take a break from trading, and that’s when they end up looking for some entertainment on gambling platforms.

There are many players who don't depend on the market at all, they simply set aside a little money for gambling and play. Often it's a small amount, the loss of which won't be a big deal, and if they win, they can withdraw part of their winnings and keep the money for further play. As for traders, I agree about bear markets, but I think they may have less time for gambling during bull markets, because for them it's an active market where they need to try to make money so they can ride out the bear market.

[Outhue]

Some stop playing when the charts turn red (like what is going on now), while others see it as the perfect time to stay active. Volatility affects mindset, not just portfolios. What’s your approach when the market dips, do you keep spinning & betting on sports or you stop playing for a while?

Volatility have no business with gambling, you are to risk what you can afford to lose and that money is the only thing you either turn into Bitcoin or Fiat for gambling purposes, it shouldn't affect you because Bitcoin is pumping or dumping, gamblers don't react to this type of things because they are not investors.

If you found yourself reacting to the price action of bitcoin as a gambler then you are using money that's in your Bitcoin long term hold wallet to gamble which is not good move, you could easily end up with no Bitcoin sooner or later. Separate everything that has to do with investments from gambling, do not mixed the two together. Gamble only when you have money you are willing to risk and lose.

[rachael9385]

Some stop playing when the charts turn red (like what is going on now), while others see it as the perfect time to stay active. Volatility affects mindset, not just portfolios. What’s your approach when the market dips, do you keep spinning & betting on sports or you stop playing for a while?

When you are dealing with gambling with crypto it has nothing to do with the bear or bullrun, gambling isn't part of the financial market so volatility has no business with it. But one thing i know and do is that I stay away from gambling during the bullrun season. Why waste such opportunity i have to make a guaranteed return on my investment, i would prefer to put in as much as I can into the market.

[Despairo]

Of course I will play even the market is bearish, why not? the only time I will not play if my monthly income not enough to cover my monthly needs, instead of playing I will seek for side jobs to earn more money.

Let's say I hold bitcoin and it starts falling to the point where I'm no longer comfortable spending like -30% from the all time high, I will start using my fiat money for everything and hold/stack more crypto. I usually go into a spending mode when the price is at least 30% up on a given year and if it's down 30% I go into a saving mode and get more.

I'm sure you hold stable coin, don't you? stable coin also count as crypto currency.

So if you gamble using stable coin, you're gamble using cryptocurrency and it won't be affect by volatility.

[Yaunfitda]

Some stop playing when the charts turn red (like what is going on now), while others see it as the perfect time to stay active. Volatility affects mindset, not just portfolios. What’s your approach when the market dips, do you keep spinning & betting on sports or you stop playing for a while?

When you are dealing with gambling with crypto it has nothing to do with the bear or bullrun, gambling isn't part of the financial market so volatility has no business with it. But one thing i know and do is that I stay away from gambling during the bullrun season. Why waste such opportunity i have to make a guaranteed return on my investment, i would prefer to put in as much as I can into the market.

Or maybe we look at it specially when you used Bitcoin, it's 1:1, so that you won't be affected by the current price whether it's going down when it's bearish. Others might go with stable coins as well as it's a good hedge to the market price. So I do agree that it has nothing to do whether we are in the bear or bull run. What matters is that we can continue to play with our crypto and enjoy the game itself and not restricting and thinking that it's going to be bad to play with our crypto as the we are in the bear. If you really understand the market cycle, then you should have separate those crypto that you going to accumulate for the cycle and long term, and crypto that you're going to used for gambling, simple as that.

[Wapfika]

Or maybe we look at it specially when you used Bitcoin, it's 1:1, so that you won't be affected by the current price whether it's going down when it's bearish. Others might go with stable coins as well as it's a good hedge to the market price. So I do agree that it has nothing to do whether we are in the bear or bull run. What matters is that we can continue to play with our crypto and enjoy the game itself and not restricting and thinking that it's going to be bad to play with our crypto as the we are in the bear. If you really understand the market cycle, then you should have separate those crypto that you going to accumulate for the cycle and long term, and crypto that you're going to used for gambling, simple as that.

Some people do this considering 1:1 Bitcoin currency but the problem is casino often displays balance $ value by default which means you can always see the fiat value of your Bitcoin whenever you bet.

Casino offer to change currencies view when betting but most of the time it’s only in fiat currency.

But the idea is great if you want to not be bothered by the market situation.