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

[YOSHIE]

What’s your approach when the market dips, do you keep spinning & betting on sports or you stop playing for a while?

I gamble not based on the market, I don't care whether the Crypto market is bear or bull, even though I currently gamble at a crypto casino but it is not an obstacle for me if I want to gamble.

If the crypto market drops for me that's a good thing, where I can place bets in Bitcoin well, no need for me to use other types of crypto or usdt/usdc.

So, I gamble not based on the market, I gamble based on the game, just like I gambled with fiat, it has no influence on the market.

[panjul07]

Some gamblers do not care about the market condition whether it is bearish or bullish because their main intention/purpose is to play gambling game in a hope to make some profit.
Other gamblers may care about it and some of them even take the bearish/bullish market as an opportunity to make extra profit when they are winning.
How about myself? I'm one of those who do not care about it because I have separated funds for both gambling and trading so the market condition has no impact for me.
I usually keep my gambling funds in USDT so the value is stable and there is nothing to worry for me when market bearish or bullish.

[ImGenius]

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 the crypto market is in a recession, I don't stop playing crypto casinos at once, but rather invest less using my previous experience. However, I play less during a recession. Then I focus more on betting on other leagues. When I want to catch up, I stay away from crypto trading. There is no telling when the market will go down further in a recession.

[Nwada001]

I don't care about which season we are or whether if the market is bearish or bullish, all i do is to gamble and made a responsible one, i can decide to use any crypto coin to gamble, depending on what is in my casino wallet, sometimes i uses bitcoin, but mostly, USDT has been the most common i do make use of in gambling, just in other to be able to have a precise rate to be used for this same purpose of gambling.

When you talk about what you have in your casino wallet, do you mean to say you do fund your casino balance in advance and wait for the day you want to gamble, or do you just fund it each time you want to start gambling? If it's funding as you go, then the market won't affect you, as the current rate will be used to convert either to stablecoin or whatever currency you prefer to use to make your deposit, but if it's already funded, then the more the market value drops, so does what you have already stacked for the purpose of gambling.

[LOVER BOY 422]

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 the market is red ,since you have started it and it gets to that extent,their is no need of going back make sure you get to the root of it finish it and make sure you actually win at end of you that keep gambling at that point.

[Smartprofit]

Yes, that's a really interesting question! 🙋 Let me share my observations...

I've noticed that I feel most comfortable betting at online casinos during periods when cryptocurrency prices aren't rising or falling (remaining stable). It's during these periods that cryptocurrencies aren't perceived as investment assets whose value will increase over time, but simply as money (like slot chips). With this mindset, spending cryptocurrencies is easy and enjoyable! 🧘

When cryptocurrencies rise in price, it's very frustrating to lose them at online casinos. After all, they can already increase in value many times over!

And when Bitcoin and other cryptocurrencies fall in price (like now), I start to get nervous. This mentality isn't very good for gambling. Now is not the best time to bet on sports (although I still continue to bet during such periods).

[Awaklara]

When the crypto market is in a recession, I don't stop playing crypto casinos at once, but rather invest less using my previous experience. However, I play less during a recession. Then I focus more on betting on other leagues. When I want to catch up, I stay away from crypto trading. There is no telling when the market will go down further in a recession.

Perhaps those who feel it when the market situation is down are the traders. As for gamblers, they may not be much affected. Some gamblers allocate a fixed amount for gambling. There may also be those who reduce their gambling activities to better control spending from the crypto assets they own. 
I myself still bet in a declining market situation. I don’t reduce any allocation and bet as usual, because my allocation is not large. It might be different for those who gamble with large funds.

[Findingnemo]

I will not use my BTC if the price were like crazy dump but not everyone who wants to gamble with crypto uses bitcoin or ethereum, they are using USDT/USDC means they are now just treating it as fiat spending but in the crypto format so it will not make much difference in my gambling habit but I am an occasional gambler not a regular one.

[LUCKMCFLY]

I play at any stage of the market, whether bearish or bullish, I play in any type of market. Before, when I started in the world of BTC and cash, when the price went up I didn't play because I thought that when BTC went up the probability of losing was greater. I played dice , but I had that belief, and psychologically it was enough to lose.

[TopTort777]

I play at any stage of the market, whether bearish or bullish, I play in any type of market. Before, when I started in the world of BTC and cash, when the price went up I didn't play because I thought that when BTC went up the probability of losing was greater. I played dice , but I had that belief, and psychologically it was enough to lose.

I also play at any stage of the market. I think it is not difference what happens with the market, but personal finances are only what matters. Short in money, just dont play whether it is bearish, bullish, morning or you are in good mood. Just wait till you can afford spending money without regret.

Btw bearish market can even be better time to play, market goes down, value of your bet goes down, you lose less lol But if you win and hold, when market recovers, you will have even more money to play. When dollar turns into two, and now you can make your regular two bets instead of one

[Johnlomape]

We are gamblers, not traders, who focus more on the market conditions. The market prices don't matter, and gamblers will keep gambling regardless of the market price trend. So it's better not to get attached to the market, as it won't help you enjoy gambling but rather give you a problem. Besides, we are not gambling to make money, and we don't even care about paying fees as long as we feel satisfied. However, if this bothered you, OP, don't force yourselves either. Remember that you are not a trader, but you are a gambler.

What does what is happening in the cryptocurrency market has to do with gambling? I don't understand how Bitcoin fall in price with interact with the gambling space when I can make deposit in multiple options without any problem. I can choose to deposit using my local fiat or using the United States dollar and my deposit will be confirmed without delay.

I have the decision to make if I am going to be depositing on crypto casinos with Bitcoin or using preferably stable coin like USDT and USDC. These stable coins have nothing to do with the price of the volatile tokens in the market that like appreciating and depreciating at any given time.

[Slow death]

I play at any stage of the market, whether bearish or bullish, I play in any type of market. Before, when I started in the world of BTC and cash, when the price went up I didn't play because I thought that when BTC went up the probability of losing was greater. I played dice , but I had that belief, and psychologically it was enough to lose.

In the past, when I used to bet on Bitcoin, whenever I placed a bet and lost, days later when I saw that the price of Bitcoin had risen significantly, I would think that I had made a big mistake. For a few minutes, I regretted having bet. This happened to me in my early days of sports betting. After I stopped betting for a while, when I started again, I only used USDT and Litecoin, but I confess that I would get a little annoyed every time I won and the price of Litecoin dropped significantly, because it felt like I hadn't won anything.

[o48o]

We are gamblers, not traders, who focus more on the market conditions. The market prices don't matter, and gamblers will keep gambling regardless of the market price trend. So it's better not to get attached to the market, as it won't help you enjoy gambling but rather give you a problem. Besides, we are not gambling to make money, and we don't even care about paying fees as long as we feel satisfied. However, if this bothered you, OP, don't force yourselves either. Remember that you are not a trader, but you are a gambler.

While i understand your position, many people are using cryptos to play with because they have invested in cryptos. And they might even swing trade it with low frequency. They are both gamblers and traders / investors.

Personally, all cryptos immediately turn to fiat money in my eyes when i play. Because i am fully accepting the loss of it, i don't consider it as an investment or part of my bags anymore. It's a separate budget from my investments, just like anything i consume.

[Odusko]

I play at any stage of the market, whether bearish or bullish, I play in any type of market. Before, when I started in the world of BTC and cash, when the price went up I didn't play because I thought that when BTC went up the probability of losing was greater. I played dice , but I had that belief, and psychologically it was enough to lose.

In the past, when I used to bet on Bitcoin, whenever I placed a bet and lost, days later when I saw that the price of Bitcoin had risen significantly, I would think that I had made a big mistake. For a few minutes, I regretted having bet. This happened to me in my early days of sports betting. After I stopped betting for a while, when I started again, I only used USDT and Litecoin, but I confess that I would get a little annoyed every time I won and the price of Litecoin dropped significantly, because it felt like I hadn't won anything.

Everyone will definitely feel that way, and that is the human greed at play in you, because at some point when you are playing with assets like bitcoin that have volatility in place, the moment you lose and the market start to go up you definitely will feel bad that you have risk too much, but then also think about it when you win using bitcoin and the price increases you also will feel happy you took the bet.

[uche6215]

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?

Bearish and bullish has nothing to do with gambling. It is only investors and traders bother for bearish. Gamblers can purchase cryptocurrency at anytime and play games at their will. I don't think people lose because the crypto market is on the bear side but it is from their strategies and luck.  For those gamblers who don't understand how these crypto market works would panic or stop gambling as you said but not those who understand fully how everything works in the market.

There is a big dichotomy between gambling and the Cryptocurrency market and there is no comparison or related issues on this.

[Orpichukwu]

When the market is red ,since you have started it and it gets to that extent,their is no need of going back make sure you get to the root of it finish it and make sure you actually win at end of you that keep gambling at that point.

No matter how hard one tries, they can never be the one to make sure they win in a game; their effort can only help them, but it can never guarantee if they will win or not, so saying it as if the gambler has the power to decide how to win back might end up pushing the person to the end of the wall, where they might lose all they have before the end of the bear market.

[Uhwuchukwu53]

Even at bearish as gambler you can still place your bet, those with good prediction still win depending on their view towards what they gamble. Gambler is never afraid of bearish market except it's not a gambler, I can place my bet as gambler not undermining the condition bearing because gambling is more of luck, the relationship between bearish market and gambling is what I have not establish, a real gambler on need money on its wallet to place it bet which can done at any time, trader can have more consideration of the bearish market than gambler.

[Fivestar4everMVP]

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?

I don't have any particular time that I gamble, or any particular market condition I need to activate my gambling mode, I am not a frequent gambler, so when ever I choose to gamble, the condition of the market isn't really something I usually consider, especially with the fact that I don't gamble with volatile asset, I spend usdt when ever I want to gamble.

Though spending of usdt on gambling was before now, I recently learnt that it's become even more easier to deposit fiat currencies on some of my favourite casinos and with this, I don't think will ever be spending cryptocurrencies on casinos again, cryptocurrencies are better treated as investments while Fiat currencies are better used for expenditures..
So with this new discovery, market condition should never be a problem when ever I choose to gamble even though it's never been as I said before..

[livingfree]

Nothing has changed, in all seasons if you're a gambler you'll still gamble.

And that speaks for all of the gamblers here in the forum and so, either of the two situations of the market, we're still doing it regardless of the situation.

We only stop when we ran out of funds or we don't feel gambling at all. But the market could also affect our moods so, we can stop if we're feeling that we have to because it feels we're spending too much.

[Z_MBFM]

Nothing has changed, in all seasons if you're a gambler you'll still gamble.

And that speaks for all of the gamblers here in the forum and so, either of the two situations of the market, we're still doing it regardless of the situation.

We only stop when we ran out of funds or we don't feel gambling at all. But the market could also affect our moods so, we can stop if we're feeling that we have to because it feels we're spending too much.

No market condition will discourage a gambler from gambling. Because gamblers do not think about the market. They think about how they can increase their gambling winnings. Rather, I think that those who know about gambling but do not gamble, can also start gambling in bad market conditions. Because in bad market conditions they will be in loss due to which they will be very upset and at that time they can start gambling emotionally. Because then emotionally they can think that by gambling they can recover their losses easily, so during the bereavement season the amount of gambling may not decrease but on the contrary increase.