Does using Bitcoin change how people gamble compared to using fiat money?

[Hispo]

Personally, I don't see it that way. Whether its bitcoin or fiat,  everyone should gamble responsibly and cautiously. The fact that you are a gambler, then you expect to make a profitable bet regardless if you bet in fiat or bitcoin.

 A gambler is always associated with money and profits, and the only way to make it possible is to gamble responsibly and profitably no matter what.

There is a difference though, and it is an important one if you think about it.
when you gamble using an stablecoin or FIAT you know exactly how much you are risking at all times, with cryptocurrency is different: you get detached of the value of your wager while you gamble.

no gambler mentally calculates how much they are risking when they choose to gamble with Bitcoin, they just set a fixed amount in satoshis and let the dices roll, with the hopes everything will play out in their favor.

So, while subtle, I think there is indeed a difference. It does not have anything to do with getting more or less lucky while on the casino, but rather how that distorted perception affects our bankroll management.

[ralle14]

I'd say it used to change how you gamble because your bankroll can change significantly over time, but nowadays it depends on the type of crypto casino. Some of them don't offer a pure crypto balance on your account. They would always convert every deposit to the current fiat value, making the experience identical to fiat casinos. Then there's the KYC part as well. It used to be more relaxed in most casinos, but now it's almost the same with fiat casinos because some of the top casinos are starting to up their KYC game, like Stake.

[rojan]

I'd say it used to change how you gamble because your bankroll can change significantly over time, but nowadays it depends on the type of crypto casino. Some of them don't offer a pure crypto balance on your account. They would always convert every deposit to the current fiat value, making the experience identical to fiat casinos. Then there's the KYC part as well. It used to be more relaxed in most casinos, but now it's almost the same with fiat casinos because some of the top casinos are starting to up their KYC game, like Stake.

I agree with this take. Bitcoin made a significant impact on the gambling behavior particularly when the balance was held only in crypto and volatility affected the increase or decrease of bankroll. However, today a lot of crypto casinos automatically transfer the deposits to a fiat currency, eliminating the production of that psychological gap and making it seem like standard fiat gambling. Introduce more strict KYC and because of it, the difference between crypto and fiat casinos is certainly not that wide as it used to be.

[jcojci]

That changing the way people to playing gambling. They will not just using fiat money to playing gambling but they have another option to gamble which is using crypto. They can playing gambling easily without sending fiat but using crypto from their wallet. Although they need to buy crypto before start gambling, that doesn't matter. They can hides their gambling activity from others.

That gives comfortable to people to gambling secretly. Their banks may not suspicious where they transact and only knows they send the money to the exchanges.

[YOSHIE]

For me it those not change anything I see it as same thing I use the two comfortably.

Gambling with cryptocurrencies and with fiat, of course there have been many changes that have occurred at this time, in short.
Crypto, of course, you no longer need to queue at the bank to put funds into your bank account and deposit them into your casino account.

If you use fiat to make transactions via OVO, GOPAY, fund accounts and other applications, you still have to deposit your money into a bank account first.
Crypto has convenience and dramatic changes for gamblers, fiat is too complicated.

[Ishicryptic]

Gambling with Bitcoin can change how holders gamble compared to when they are using fiat, if Bitcoin is bullish holders can gamble with higher amount because of their profit, same way they can gamble less when there is dip. But when it comes to gambling proper I don't think that fiat or crypto matters because they are just currencies to fund gambling account. The fun lies in the game that you are playing, the type of currency you use doesn't count whether you win or lose, it is luck and a little bit of your strategy if it's skill based games.

[Gozie51]

For me it those not change anything I see it as same thing I use the two comfortably.

It does change something because they are not the same thing and have different mode. One of the difference is:

Privacy... For some gamblers, their identity is important. They don't want the "world" to know that they gamble and so they want a low key gambling habit that won't interfere with who the society see them as and also family, especially married man who doesn't want the family to know about it.

Another reason that they are different is that crypto gambling amount limit is higher than that of fiat. In gambling with your fiat, you can gamble with very low amount which may not have the same denominational rate with crypto or bitcoin. Also, with bitcoin you can make deposit and gamble anywhere around the world if the casino is allowing crypto but with fiat, you have to convert to USD or usdt if you want to gamble outside your country.

[Orpichukwu]

I believe from the topic you have seen and understand by question. Before the introduction of bitcoin or any other cryptocurrency people just focused in using fiat to gamble however now people are using bitcoin to gamble now my question is Does using Bitcoin change how people gamble compared to using fiat money? those who use or has used this two will have a better answer.
For me it those not change anything I see it as same thing I use the two comfortably.

In as much as gambling added a hand in pushing Bitcoin adoption and promotion, Bitcoin, on the other hand, has also brought major change to the industry. Before now, the online casino was not as lucrative as it is today. Crypto has widened their minds, and it has been made simple for them to reach more people compared to how it was when fiat was limiting gambling accessibility. Not only has using Bitcoin made things easier, but the help of altcoins, whose deposit fees are cheaper, has also helped me a lot.

[VashaUdacha777]

is Does using Bitcoin change how people gamble compared to using

Good Morning 

Bitcoin doesn’t change the way you play or your strategy. It just makes deposits and cash-outs much easier. That simplifies things and saves time and nerves. Other than that, I don’t really see any difference. Losing Bitcoin feels just as bad as losing fiat money.

[TopTort777]

I do think that instability in crypto prices change gambler behavior. Especially display in fiat feature. Lets suppose situation, when you have 100 bucks and you go shopping, when you at the store and check your balance, you see that you have 150 already. How much would a person spend then, 100 or 150? The same happens when a person deposit one amount, play, leave, return and see that he has more money to play. Of course that person would try luck with those "extra" money, and most likely gamble rest of the balance.

[Cointxz]

In the past there is. Crypto currency offers a full privacy since you can gamble without sending your information to casino compared to fiat that you will need to send ID or card information before you can deposit using fiat currency.

But now it almost has the same experience since crypto is also regulated.

I believe the only difference now is you can transact immediately using crypto compared to fiat that usually have banking days for transaction processing.

[danherbias07]

For me, there is a change. I am more careful.

I only gambled using Bitcoin in the past, but I stopped doing it. It's because I think it's a waste of Bitcoin, which could gain value in the future. Now, I am just using stablecoins for my gambling habits and sometimes our local currency when I gamble in local online sports bookies.
But I can honestly say that I am more afraid of making bets whenever I use Bitcoin as a means of payment. I think it's the regret of not keeping it, and then its sudden growth that gave me the fear of spending it.

[nimogsm]

I believe from the topic you have seen and understand by question. Before the introduction of bitcoin or any other cryptocurrency people just focused in using fiat to gamble however now people are using bitcoin to gamble now my question is Does using Bitcoin change how people gamble compared to using fiat money? those who use or has used this two will have a better answer.
For me it those not change anything I see it as same thing I use the two comfortably.

It was Bitcoin that opened the door to gambling for me. At first, I played various dice games and other simple games. Later, with the development of other cryptocurrencies, there were even more cheaper and faster providers that accept cryptocurrency. Today, I use USDT more often, as it is the most versatile means of payment.

[freedomgo]

There’s actually a big difference there. Using Bitcoin for crypto gambling gives us more freedom, mainly because there are still casinos that don’t require KYC, unlike fiat where KYC is basically mandatory. That’s the main difference I see.

As for value, Bitcoin vs fiat doesn’t really matter to me when I’m gambling. When I use Bitcoin, I don’t look at its price, I treat it purely as a payment method for convenience. I’ve always kept my Bitcoin separated anyway, one portion for investing and another strictly for gambling.

[SFR10]

Does using Bitcoin change how people gamble compared to using fiat money? [...] For me it those not change anything I see it as same thing I use the two comfortably.

Same here... For the most part, there's no difference in using either of those, but as soon as I try to withdraw it, that's where I feel the difference ^{[e.g., some local platforms & exchanges tend to flag transactions that are connected to gambling platforms, so it requires a few more hops]}.

[Beparanf]

I believe from the topic you have seen and understand by question. Before the introduction of bitcoin or any other cryptocurrency people just focused in using fiat to gamble however now people are using bitcoin to gamble now my question is Does using Bitcoin change how people gamble compared to using fiat money? those who use or has used this two will have a better answer.
For me it those not change anything I see it as same thing I use the two comfortably.

It was Bitcoin that opened the door to gambling for me. At first, I played various dice games and other simple games. Later, with the development of other cryptocurrencies, there were even more cheaper and faster providers that accept cryptocurrency. Today, I use USDT more often, as it is the most versatile means of payment.

Same here, back then fiat online casino is scarce and not easy to access because they require KYC and bank account to play while setting up online bank account requires a lot of documents to open.

I involved on gambling by earning Bitcoin on faucet. Actually freebitco.in faucet introduces me to online gambling because it has built-in dice back then.

I explore other crypto dice site after my freebitco.in experience.

[mirakal]

I involved on gambling by earning Bitcoin on faucet. Actually freebitco.in faucet introduces me to online gambling because it has built-in dice back then.

I explore other crypto dice site after my freebitco.in experience.

I still remember the early days when Bitcoin didn’t feel precious at all. We were earning it for free, so gambling with it felt easy, if we lost, we’d just earn more anyway. It was mostly about testing different dice sites, and back then we had no idea Bitcoin would turn into something this big.

Imagine casually gambling 0.01 to 0.1 BTC like it was nothing. These days, that’s unthinkable. We definitely can’t do that anymore.

[Botnake]

Imagine casually gambling 0.01 to 0.1 BTC like it was nothing. These days, that’s unthinkable. We definitely can’t do that anymore.

Back in 2014 to 2016, that wasn’t considered a huge amount at all. But now that Bitcoin has gone past $100k, it’s a completely different story. Back then, Bitcoin was mainly just a payment method for crypto casinos. These days, Bitcoin isn’t really the main option anymore, probably because it’s become too valuable. I think most people now prefer using stablecoins like USDT for gambling since the value is fixed and you don’t have to worry about volatility while you play.

[Smartprofit]

Currently, international economic sanctions have been imposed on some countries. As a result, citizens of these countries are effectively unable to use fiat currencies for gambling in online casinos. This is because their national currencies are not freely exchangeable for US dollars or euros. 🙋

Therefore, citizens of these countries are left with only one option: using cryptocurrency, specifically Bitcoin. Therefore, in my opinion, Bitcoin democratizes access to gambling. More people can play online casinos using Bitcoin (rather than fiat).

A more interesting question... How psychologically different is betting in Bitcoin from betting in fiat? How easy is it for a person to spend money in both cases? I don't have a definitive answer to this question. I believe that losing cryptocurrency is psychologically less painful than losing fiat currency. An analogy can be drawn here. I read a study that showed that people are more willing to spend non-cash money (using plastic cards) than cash.  I think the same applies to cryptocurrency. 💁 Accordingly, I expect cryptocurrency casinos to become more widespread in the future. This will allow online casino owners to maximize their profits.

[BitBakerr1]

I think when using cryptocurrency or bitcoin to gamble it is usually different when you are using fiat currency to gamble, now the reason why it is different is because these two currencies are not the same they are different and the way it is used is also different when you are using cryptocurrency such as bitcoin to gamble you will spend more money than when you are using fiat currency, bitcoin is also very valuable than fiat currency and is seen as an investment it will usually make you to gamble more in order to get more. I have seen people that believe they can use bitcoin gambling to accumulate bitcoin and hold, so they see it like investment or accumulation strategy.