Why are cryptocurrencies so popular in online gambling?

[standardnepo]

I didn’t realise how popular cryptocurrencies were in the gambling industry until I became a member of this forum. May I ask why that is?

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question, I’m still new here.

[_act_]

It started with bitcoin, many people used it to gamble easily because the first gambling sites did not require KYC, although everything has changed as some gambling sites require KYC now. But many people still like the crypto gambling sites.

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question, I’m still new here.

Learn about noncustodial wallets and exchanges so you will be able to know where to buy your coins and send it to the gambling site of your choice like Duelbits where you can gamble on casinos and sports.

[Hazink]

I didn’t realise how popular cryptocurrencies were in the gambling industry until I became a member of this forum. May I ask why that is?

The idea was supposed to be because of privacy, like I don't want my government to know how I'm spending my money and how my moves, so I chose to use crypto as my payment method in gambling.

Before, when you hear about crypto casino it's supposed to be KYC free but now regulation have changed all of that, things are different maybe are choosing to use crypto for different purpose either because that's what they have or because that's the best that process deposit faster.

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question, I’m still new here.

How do you know, or are you judging based on the number of gambling signatures on the forum? As I have not seen any of your posts on the gambling board.


Side note: This thread I believe it’s best suited in the gambling section.

[PrivacyG]

I wonder why only about 20 posts post registration you felt the need to ask for some Merits (https://bitcointalk.org/index.php?topic=5412657.msg66965539#msg66965539).

Anyway.

Bitcoin Talk has that Board popular because of Signature Campaigns for the most part.  There are probably a lot of gamblers too but I doubt it would be THAT active.  After all, Cryptocurrencies are great if you want to spend money on things others will not be able to know about.  For example.  Using Bitcoin or Monero to purchase pornography subscriptions, to gamble, to purchase drugs et cetera.  And when you have a gambling addict hating spouse, you may resort to doing particularly that.

[BIT-BENDER]

I didn’t realise how popular cryptocurrencies were in the gambling industry until I became a member of this forum. May I ask why that is?

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question, I’m still new here.

If you see so many people here are involved with gambling, I am only curious to know where exactly did you see that people where interested in gambling that much? Let guess you have checked around the gambling section https://bitcointalk.org/index.php?board=56.0 and it's child board now since this is related to gambling you might have just posted this thread in the gambling discussion.

Crypto-currency is digital money and you need money to be able to place a bet in online gambling, and gamble companies what the process to be as seamless as possible to the offer several options of payment to their clients, Crypto-currency is up to speed because it is fast, seemless, it also supports anonymity and privacy.

[Audrey Simmons]

I didn’t realise how popular cryptocurrencies were in the gambling industry until I became a member of this forum. May I ask why that is?

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question, I’m still new here.

The highest amount of wins and losses is mostly in a crypto gambling casino, what happened was evolution, the start of a new era. People got tired and wanted where they can hide behind an address, play for fun and withdraw without passing out KYC.

In recent times, KYC has now somehow been normalized for crypto casinos, before now it was not so, gamblers truly wanted to be pseudo with their identity, it wasn't an option then, it was a criterion for all crypto casinos.

[EluguHcman]

I didn’t realise how popular cryptocurrencies were in the gambling industry until I became a member of this forum. May I ask why that is?

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question, I’m still new here.

If you have not had betting experiences before and you have not showed concerned to know about betting, I don't think you learning about the advancement on technologies such as the crypto casinos is what will be easy for you to have in your documentary.
I am either not saying people who don't gamble don't have knowledge at least some basic knowledge about it, but when you are ignorant, you will absolutely know nothing about it. Especially the new developments.

I want to believe you have visited the gambling board before coming up with this discussion, so if you are interested to know better about gambling and crypto casinos, I will freely redirect you to the gambling board. There you will learn better about crypto and the casinos.

Don't forget that there is also online casino, so you must not visit a physical one before being in the line.

[standardnepo]

I wonder why only about 20 posts post registration you felt the need to ask for some Merits (https://bitcointalk.org/index.php?topic=5412657.msg66965539#msg66965539).

Did you even read the post? The OP himself says:
“I need to help more newbies grow in rank so that more valuable contributors stay longer on the forum. Act more responsibly with my merit allocation by distributing it more efficiently and effectively. Find a new contributor I can learn something from.”

I thought this was a very nice way to encourage newbies to create quality posts and ask meaningful questions instead of making shitposts. That’s why I added some of my posts for the OP to review and decide whether he thinks they deserve merit. I discuss topics that I’m genuinely curious about or don’t know the answer to, and I ask other members for their replies and opinions. So, I don’t see any problem with that.

Bitcoin Talk has that Board popular because of Signature Campaigns for the most part.  There are probably a lot of gamblers too but I doubt it would be THAT active.  After all, Cryptocurrencies are great if you want to spend money on things others will not be able to know about.  For example.  Using Bitcoin or Monero to purchase pornography subscriptions, to gamble, to purchase drugs et cetera.  And when you have a gambling addict hating spouse, you may resort to doing particularly that.

And no, I don’t have a gambling addiction or anything like that. I simply saw it in other people’s signatures, which is why I asked about it. So, thank you for your reply.

[moneystery]

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question, I’m still new here.

Previously, if you wanted to gamble online, you needed to deposit using bank transfers, credit cards, PayPal, or other payment methods. This could be quite frustrating because you had to wait longer for deposits to be processed, and there was a risk that the bank could block your account if they found transactions related to online gambling activities.
However, with more people realizing the benefits of Bitcoin and the emergence of sites that offer Bitcoin deposit options, more people are using their Bitcoin for gambling because they find it more convenient to use Bitcoin for gambling, since you don't have to wait as long for your deposits to be processed, and you don't need to provide more information to the casino just to make a deposit.
Although regulations are now stricter, requiring KYC, more people are still choosing crypto for online gambling due to its convenience and speed.

[standardnepo]

Previously, if you wanted to gamble online, you needed to deposit using bank transfers, credit cards, PayPal, or other payment methods. This could be quite frustrating because you had to wait longer for deposits to be processed, and there was a risk that the bank could block your account if they found transactions related to online gambling activities.
However, with more people realizing the benefits of Bitcoin and the emergence of sites that offer Bitcoin deposit options, more people are using their Bitcoin for gambling because they find it more convenient to use Bitcoin for gambling, since you don't have to wait as long for your deposits to be processed, and you don't need to provide more information to the casino just to make a deposit.
Although regulations are now stricter, requiring KYC, more people are still choosing crypto for online gambling due to its convenience and speed.

I’ve only recently learned about KYC, and I didn’t really know how the gambling process worked, so that makes sense now. Thank you for your clear explanation.

[BitMaxz]

Previously, if you wanted to gamble online, you needed to deposit using bank transfers, credit cards, PayPal, or other payment methods. This could be quite frustrating because you had to wait longer for deposits to be processed, and there was a risk that the bank could block your account if they found transactions related to online gambling activities.
However, with more people realizing the benefits of Bitcoin and the emergence of sites that offer Bitcoin deposit options, more people are using their Bitcoin for gambling because they find it more convenient to use Bitcoin for gambling, since you don't have to wait as long for your deposits to be processed, and you don't need to provide more information to the casino just to make a deposit.
Although regulations are now stricter, requiring KYC, more people are still choosing crypto for online gambling due to its convenience and speed.

Not just Bitcoin but most of the crypto that people usually use right now when gambling is USDT or any stable coins.
The benefit of crypto is that you have complete control over your wallet, which allows you to send and receive coins directly from your wallet to an online casino. There isn't much hassle after KYC verification.
Before, I was attracted to the game called Dragon Tales, an online RPG game in Bitcoin where you can gamble inside the game. You can also get some free Bitcoin from statues or some tour guide there. This game only exists in the Bitcoin community, so if you are not going to exchange your funds for Bitcoin, you can't play this game.

In the past there was no KYC at all since governments see crypto has potential; they are trying to control crypto. That is why KYC nowadays exists in crypto, but still there are still many ways to avoid gambling history since we are in crypto; there are many ways to hide. That's, I think, the reason why most people gamble in crypto rather than just gamble using real funds from banks or PayPal.

[Popkon6]

Cryptocurrency is so popular in gambling because people transact secretly so that no one can know about their transactions. For example, if you are gambling using cryptocurrency.
using Bitcoin, you are depositing your money in Bitcoin, it is more confidential. You can buy drugs and transact secretly using Bitcoin, Ethereum, Monero or unique coins. So privacy is most effective in gambling, that is why gamblers prefer to use cryptocurrency the most.

[SeriouslyGiveaway]

I didn’t realise how popular cryptocurrencies were in the gambling industry until I became a member of this forum. May I ask why that is?

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question, I’m still new here.

It's fast, cheap, and no KYC years ago and even with stricter enforcement of AML and KYC, there are still ways to use online casinos for bets without KYC.
The development and growth of Web3 wallets, then Web3 casinos provide people more convenient, self-control and privacy options to bet.

You can read about the first online casino with Bitcoin acceptance in this history book.
[HELP] 'The Bitcoin History Book 2008-2024' [RELEASE: September 2024.
https://drive.google.com/file/d/1M8z4M4oV4WC_aIGWkn-tO_T7Nkllj47C/view?usp=sharing
The first Bitcoin casino, SatoshiDice, is described at page 100 in the book.

The casino website became known as SatoshiDice soon after it was sold to Erik Voorhees. The domain address www.satoshidice.com was registered on 18th April 2012. Erik Voorhees announced the blockchain-based betting game on BitcoinTalk on 24th April 2012.

[jcojci]

After Bitcoin released and slowly popular, those who have more money saw the opportunity to make a profit from gambling business. So they built an online casino based on crypto which was different than usual online casinos. Crypto cuts many processes and users only need to have crypto to gamble and they can buy crypto at exchanges.

Don't playing gambling if you don't have strong control over yourself because gambling can tempting you to continue gambling without stop.

[Awaklara]

I didn’t realise how popular cryptocurrencies were in the gambling industry until I became a member of this forum. May I ask why that is?

The crypto market is becoming increasingly popular these days, and we can see young people interested in owning crypto. Maybe their goal is to trade or invest. Meanwhile, crypto casinos have been around for a long time, but their growth is also accelerating as more people get to know and use crypto. Many casino users who used to gamble in fiat online casinos are also switching to crypto casinos.

[fullfitlarry]

I didn’t realise how popular cryptocurrencies were in the gambling industry until I became a member of this forum. May I ask why that is?

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question, I’m still new here.

It's because gambling with Bitcoin, and not crypto in general was one of the first use case. And so it started with Bitcoin and gradually evolved to other crypto that's why it became more popular. And in the beginning, from what I read from OG members, it was just a withdrawal and deposit address and that's it. You can start to gamble with good Bitcoin casinos that time.

The question is since you are here in this board, are you willing to learn or gamble with crypto?

[Cointxz]

I didn’t realise how popular cryptocurrencies were in the gambling industry until I became a member of this forum. May I ask why that is?

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question, I’m still new here.

To be clear, many people here are involved on gambling discussion but not on the actual gambling experience.

Even in the past, Bitcoin was popular on Gambling utility since its easy to use and there’s no KYC needed to play especially on dice game. But everything evolves now due to mainstream popularity.

Crypto casino offers a much user friendly features than fiat casino. They are less strict when it comes to KyC, better VIP benefits and many more.

[Dunamisx]

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question.

Ever since the emergence of online gambling, we have been found using traditional fiat currency to stake our games on casino gambling platforms, but ever since the emergence of bitcoin in cryptocurrency, many of the casinos have also been in support of the use of crypto to gamble on their platform and we can either choose from between the two as our preferred currency for gambling, you will discover that some platform support both fiat and crypto while some only one.

[Webutxo]

I didn’t realise how popular cryptocurrencies were in the gambling industry until I became a member of this forum. May I ask why that is?

I see that many people here are involved with gambling and online casinos. To be clear, I’ve never gambled in my life or been to a casino, so I don’t really know how it all works. Sorry if this is a stupid question, I’m still new here.

One of the major problem of casino back then is funding, if you are not from particular region it was almost impossible to use casino. Like in my country, it was difficult to use any casino you see online due to how credit card works here, since Bitcoin is censorship resistance and you can make border payment with it, Bitcoin and dogecon became the next thing for funding accounts with casino and today it's now history for casino with crypto payments.

An average casino has more than 30 deposit of coins on their platform, even USDT and some stable coins are popular today because of the crypto but now it seems we have more project of casino than the market has experience. Recently I noticed casino has become the new start up unlike back the where you will see almost everyone launching different projects, casino seems to be successful and better than most of this other crypto projects.

[Nrcewker]

I’m still new here.

Welcome to the wonderful world of cryptocurrencies and gambling. The reason cryptocurrencies are so popular is their market value. I am sure most people started gambling with BTC and later moved to other altcoins. Bitcoin’s craze was truly insane during the 2020 bull run, when its price suddenly reached 10000 dollars. Around that time, crypto gambling became very popular. People simply wanted to increase their BTC holdings through gambling. That is where the craze began.

Now, if you ask me about the benefits of crypto gambling over traditional fiat gambling, I would say that the decentralized nature of Bitcoin is one of its biggest advantages, while fiat gambling often comes with tax-related issues. Fiat casinos usually require users to verify their real identity, whereas some crypto casinos allow players to remain anonymous. All of these features together have made crypto gambling popular over many years.