Should Bitcoin leverage gambling?

[uneng]

Sure, I understand that a casino cannot have volatile reserves. But I think many of you are confusing the current system of crypto casino with a pure Bitcoin system. Instead of 1 BTC = xxxxxxx dollars, why not a casino where 1 BTC = 1 BTC? Bet in Bitcoin, win and lose in Bitcoin. There would be no need to worry about the entire thing in terms of fiat. I am not saying they have to have 100% of their reserves in BTC, I understand they need fiat to pay off some costs and save some money for other possible expenses. But even 50% would be impressive and a clear signal to Bitcoiners that the casino owner too, is a true Bitcoiner and believer in BTC.

I see no disadvantage for the casino nor the gambler. In fact, the casino would become like Michael Saylor's Strategy but for crypto gambling. That could bring a lot of new people in. And the Bitcoin reserves themselves would become very profitable in the future. A win win for any casino.

I think that is quite possible, they just have to want doing this. 50% of funds in BTC looks solid. They will be paying everyone in BTC, anyway. So even though Bitcoin crashes, they will still have the funds to pay everyone, because it's going to be in BTC. It reminds me the old dice websites where I suppose their entire holdings were in BTC currency, right?

And as you said, on long term it's even more profitable for the casino, if we consider Bitcoin getting more and more valuable.

The only cons I see is that casinos nowadays don't focus exclusively on Bitcoin enthusiasts. They want a wide public, and will most likely focus on gamblers who deal with fiat currencies, who are the majority.

[Orpichukwu]

Bitcoin and gambling were always going to overlap eventually. The interesting part is figuring out whether that relationship actually benefits Bitcoin users.

The relationship is definitely going to benefit Bitcoin users aside from casinos using Bitcoin as part of their reserve as long as they accept it. for deposit they will definitely leave some of it for reserve, bitcoin users also have the opportunity to spend what they believe on while trying to have fun and not just for it to be held in their wallet.

[Odusko]

Bitcoin and gambling were always going to overlap eventually. The interesting part is figuring out whether that relationship actually benefits Bitcoin users.

The relationship is definitely going to benefit Bitcoin users aside from casinos using Bitcoin as part of their reserve as long as they accept it. for deposit they will definitely leave some of it for reserve, bitcoin users also have the opportunity to spend what they believe on while trying to have fun and not just for it to be held in their wallet.

We are beginning to focus more on Bitcoin valuation when we are talking on companies leaving their reserve funds in Bitcoin, I think one other aspect to look at closely in the area of Bitcoin ecosystem improvement something away from the potential scarcity to real time usability, this is what make other currencies to still be listed on casino, and this will not change as long as crypto casino operations is concerned.

[nelson4lov]

It looks interesting at first glance but it reminds me of strategy's Bitcoin accumulation because at the end of the day, the bitcoin that has been accumulated by casinos will get dumped in the market in the same way. Trying to create a false sense that the accumulation will be net negative too doesn't work.

Also worth noting that we already having Dogecoin and Solana that powers the crypto gambling economy. We don't need to add bitcoin to that list.

[Sonia_123]

It will be very difficult to say this because bitcoin is not gambling or for those traders in bitcoin except you see it as gambling then leveraging bitcoin trading becomes very risky since leveraging has to do with borrowing of funds to get some sizeable portion and when we have a fall in price which goes against you, then you can be rest assured of a huge loss which will exceed your initial deposit, which this is also seen among traders and can lead to you not being stable mentally because of the huge losses.

When you place a game in the casino, it locks the gambler into a fixed outcome, when you use leverage games are often rigged, which makes you always lose while they win.

[alastantiger]

Using Bitcoin for gambling is really different, I only use Bitcoin for holding purposes and I hold this Bitcoin to be financially secure in the future. And but if people who use Bitcoin for gambling keep holding Bitcoin it will be much safer and financially secure for their future, people will continue to gamble but it is best to gamble with local currency or stable coins.

Using Bitcoin to gamble is not a bad thing Bitcoin is just like every other currency hence it can be used to gamble too and when you use Bitcoin for gambling you did not lose anything. Bitcoin is like the US dollars so it can be spent and when you spend it gambling it makes the game more entertaining and you are also promoting the use of Bitcoin that way. The gambling market is so big and we have many casinos that can help promote Bitcoin hence I do not see anything wrong with Bitcoin embracing the gambling market. Bitcoin can use the gambling market to gain more popularity and adoption and I do not see anything bad with this as far Bitcoin can achieve it's purpose of being a globally accepted currency.

[alegotardo]

Instead of only a casino that accepts Bitcoin, an interesting innovation would be a casino whose economic surplus systematically becomes Bitcoin demand. Each bet lost would be a win for the Bitcoin economy.

Man, implementing this is economically possible, but I do not think this idea is a good one.... first because the regulatory costs, the reputation of Bitcoin and also ethical issues could outweigh the benefit of buying BTC. And even if this is good, the question that remains is: How long casinos will hold these Bitcoins?

Do you know why I mentioned the "reputation issue"!? Its because if your idea is implemented and it works "really well", people will say: Bitcoin is high because all casinos bought it with the money from people who had recurring losses, the addicted gamblers or vulnerable people with compulsive behavior... Bitcoin is making people sick.

Do you understand!? Even if there is no direct connection, people will say it anyway, just like they said that Bitcoin mining was responsible for the energy shortage some time ago.

Anyway... I think Bitcoin does not even need an entire sector dedicated to buying Bitcoin to create buying pressure... let Bitcoin follow its natural course, and we will naturally reach new ATHs.

[CryptoHeadlineNews]

Using Bitcoin for gambling is really different, I only use Bitcoin for holding purposes and I hold this Bitcoin to be financially secure in the future. And but if people who use Bitcoin for gambling keep holding Bitcoin it will be much safer and financially secure for their future, people will continue to gamble but it is best to gamble with local currency or stable coins.

Using Bitcoin for gambling does not also stop you from investing in it as your preferred asset for long term investment. But it's only just that due to its volatile nature, gamblers always then to avoid it while gambling as a way to not see their casino balance increase and likewise decreases every single seconds when the price of Bitcoin rice and fall. So no matter the advocacy to place Bitcoin as a priority for the gambling industry. Unfortunately It's operator will also prioritize stable coins, despite having a Bitcoin reserve each.

[Hispo]

It seems to me that online casinos aren't very interested in building Bitcoin reserves.🙋

Generally, I'm a supporter of individuals holding Bitcoin, not companies. Why would companies need to build Bitcoin reserves? Almost all of their operating expenses (electricity, rent, employee salaries) are denominated in US dollars, not Bitcoin.

A commercial company, in my opinion, should be engaged in entrepreneurial activity, not storing Bitcoin. Bitcoin treasuries are, in my opinion, the most ridiculous innovation of recent times.

That said, I often play at online casinos using Bitcoin. I prefer it to stablecoins.💁

Companies do that because of speculation, one does not need to over-think it.
There are inviduals who just hold Bitcoin in the long term because they believe Bitcoin will be more valuable against the United States dollar in the future, so they can sell at higher prices, that is the same logic which is applied by companies which accumulate Bitcoin for the future.

Actually, it is funny you mention you prefer to gamble using Bitcoin instead of stablecoins, because I am actually the contrary, I prefer to gamble using stablecoins and hold Bitcoin as an investment.

[danadc]

Of course, altcoins are probably better suited for deposits than Bitcoin due to their faster network speed, but there are other factors to consider. For example, many players regret having once gambled with Bitcoin and lost it, thinking that if they had held it, they would have been several times richer today. It's interesting why those who gambled with altcoins aren't happy that they at least gambled with it instead of holding it, which has fallen by 90% since then. And those who previously bet Bitcoin—that's precisely what sets them apart: they did so, meaning they decided not to hold it, but to have fun and bet on luck, so they shouldn't regret it.

You're right. Well, I'm one of those people who, if I were to calculate how much I've lost in BTC, it could be quite a lot. I don't even think about how much I've lost because it's pointless.

Currently, I like to use BTC sometimes, and USDT sometimes, but normally, due to the current market conditions, I'm not able to use BTC for betting anymore, nor altcoins. For me, it's a thousand times better to use USDT so I don't regret it later.

[Hispo]

I get it, Bitcoiners do not want gambling to become associated with Bitcoin. But people are going to gamble one way or another - why should Bitcoin not capitalize on this?

I don't understand why though. Since the very beginning when Bitcoin was not even worth one thousand dollars, it was already been used as a way to gamble on the internet and in a rather anonymous way.

Instead of denying that part of Bitcoin history, Bitcoiners are supposed to embrace it, recognize it and learn from it. Casinos gave Bitcoin it's first chance as an asset in the internet, and to this day, casinos and bookies continue to help Bitcoin by creating a real cash flow and demand.

At least, that is the way I see it. I am not embarrassed of using an asset which stater his history as a casino chip on anonymous casinos. It has evolved to be much more than that.

I don’t see anything shameful about bitcoin history. From the onset when people have start to use it for online gambling, and that period really helped bitcoin to get real users and attention from the internet. For me, we are supposed to accept that history and learn from it.

 Bitcoin can’t grow more than casino chip today, but gambling and betting still contributes to the demand and cash flow Around it. That’s how I see it.

Right, that is correct view and mindset to have when comes to decentralized assets like Bitcoin. But there are people who simply think too much about what Bitcoin can or could have been used in the past for.
There were a lot of people who did not invest in Bitcoin in the early days because it was mostly associated with both gambling and illegal purchases in the dark web.

There was a serious stigma on Bitcoin back in the day, and that is why there have been people who have chosen to forget or even deny the past of Bitcoin, so they can hold it more comfortably.

It is rather silly if you asked me. But that is how a lot of people think and work.

[GreatArkansas]

It will be very difficult to say this because bitcoin is not gambling or for those traders in bitcoin except you see it as gambling then leveraging bitcoin trading becomes very risky since leveraging has to do with borrowing of funds to get some sizeable portion and when we have a fall in price which goes against you, then you can be rest assured of a huge loss which will exceed your initial deposit, which this is also seen among traders and can lead to you not being stable mentally because of the huge losses.

When you place a game in the casino, it locks the gambler into a fixed outcome, when you use leverage games are often rigged, which makes you always lose while they win.

You mixed the word leverage. This thread is about casinos using house money to buy Bitcoin, not about borrowed trades. Lost bets still do not create new Bitcoin demand.

Overall, gambling activities must nothing to do with Bitcoin at all, like it's one of the purpose of Bitcoin, internet money, diferent mode of payments, it's still same using your own fiat money to do gambling.

[lionheart78]

Gambling is a huge business worldwide
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IMF forecasts the market at roughly $807 billion in 2026 and $1.03 trillion by 2030. ¹

Instead of only a casino that accepts Bitcoin, an interesting innovation would be a casino whose economic surplus systematically becomes Bitcoin demand. Each bet lost would be a win for the Bitcoin economy.

And furthermore, most Bitcoiner gamblers would be more inclined towards a casino that hodls most of its reserves in Bitcoin. Bitcoiners would be encouraging this kind of adoption.

I get it, Bitcoiners do not want gambling to become associated with Bitcoin. But people are going to gamble one way or another - why should Bitcoin not capitalize on this?

As far as I know, Bitcoin has been associated to gambling activities for several years now.  As far as I remember, gambling casinos are among the first industry that adopts Bitcoin, this is also the reason why we have crypto casinos today.

I also do not think that Bitcoiners don't want gambling to be associated with Bitcoin, in fact, I think they don't mind, I also remember during Bitcoin early years, any kind of adoption is cheered by Bitcoiners and serves as hype to the Bitcoin market.

[Peanutswar]

I guess this could be just a convenience only to those people who are aware to use and transact with the bitcoin or any other cryptocurrency tokens and some of us we are using a non-custodial wallet and its more ideal when it comes to privacy matters we dont need to link or direct deposit with our banks which probably shown the details of the bank name, number and also the banks will get notified from this possible they will flag the account as a suspicious activity, so we dont want to make it happen right. So its an edge when it comes to a privacy but does not mean it has an edge to win in the casino.

[famososMuertos]

Bitcoin is a revolutionary tool that enables all kinds of ideas and experiments, including this one. But that doesn’t mean it’s the main or most important path for Bitcoin adoption. Turning lost bets into systematic Bitcoin demand is an interesting concept on paper, but it’s still a secondary and relatively niche use case. The core value of Bitcoin remains elsewhere.

[FinneysTrueVision]

And furthermore, most Bitcoiner gamblers would be more inclined towards a casino that hodls most of its reserves in Bitcoin. Bitcoiners would be encouraging this kind of adoption.

I don’t think there’s any evidence to support this notion. People gamble for entertainment and aren’t really looking into whether a casino supports their favorite cryptocurrency. The composition of their reserves are the least of anybody’s worries. It only matters that they are solvent and you can withdraw your winnings.

As we have seen, treasury companies have to deal with volatility and can have significant drawdowns. For an actual business that does something other than holding Bitcoin, it would not be a great idea to focus on accumulating Bitcoin with their revenue. They might get some free publicity from doing this, but the risks far outweigh what minimal benefits there are.

[Patikno]

Using Bitcoin for gambling is really different, I only use Bitcoin for holding purposes and I hold this Bitcoin to be financially secure in the future. And but if people who use Bitcoin for gambling keep holding Bitcoin it will be much safer and financially secure for their future, people will continue to gamble but it is best to gamble with local currency or stable coins.

Using Bitcoin to gamble is not a bad thing Bitcoin is just like every other currency hence it can be used to gamble too and when you use Bitcoin for gambling you did not lose anything. Bitcoin is like the US dollars so it can be spent and when you spend it gambling it makes the game more entertaining and you are also promoting the use of Bitcoin that way. The gambling market is so big and we have many casinos that can help promote Bitcoin hence I do not see anything wrong with Bitcoin embracing the gambling market. Bitcoin can use the gambling market to gain more popularity and adoption and I do not see anything bad with this as far Bitcoin can achieve it's purpose of being a globally accepted currency.

I completely agree with you, as I think Bitcoin is intended for any transaction, including gambling. I don't think there is any difference between using local currencies, stablecoins, or using Bitcoin for gambling. Furthermore, a Bitcoin-supported gambling market will raise awareness of Bitcoin itself, and I think its popularity will undoubtedly grow. Well, I am not opposed to using Bitcoin for other purpose (whether it is for investment), but it is clearly a sensible way to capitalize when we are talking about transaction side (for Bitcoin's growth). Demand will also likely grow exponentially, alongside widespread adoption.

[Emeraldo]

Bitcoin and gambling were always going to overlap eventually. The interesting part is figuring out whether that relationship actually benefits Bitcoin users.

The relationship is definitely going to benefit Bitcoin users aside from casinos using Bitcoin as part of their reserve as long as they accept it. for deposit they will definitely leave some of it for reserve, bitcoin users also have the opportunity to spend what they believe on while trying to have fun and not just for it to be held in their wallet.

There has been high adoption of Bitcoin in gambling and that alone has been changing how many people see Bitcoin.
Since Bitcoin came to existence, there has been a huge adoption since gamblers don't have to rely on the traditional way of sending money to offshore casinos that can take time and several days before the money can be transferred and confirmed by the local and international bank that are involved. Bitcoin has made every process of sending money to an online casino very easy for players and this will only take minutes for each transaction to be approved.

[Queen uloma]

It will be very difficult to say this because bitcoin is not gambling or for those traders in bitcoin except you see it as gambling then leveraging bitcoin trading becomes very risky since leveraging has to do with borrowing of funds to get some sizeable portion and when we have a fall in price which goes against you, then you can be rest assured of a huge loss which will exceed your initial deposit, which this is also seen among traders and can lead to you not being stable mentally because of the huge losses.

When you place a game in the casino, it locks the gambler into a fixed outcome, when you use leverage games are often rigged, which makes you always lose while they win.

You have spoken well, bitcoin isn’t gambling, but leverage trading can become very risky because you are using a borrowed funds. If market didn’t go as expected, you may end up losing very big money, more than your initial deposit.

Casino leverage isn’t the same thing but both have a serious risk of losing money. That’s why people need to avoid leverage if they don’t fully understand the risk that’s involved.

[boyptc]

I guess that most of the casinos now especially the crypto casinos will start to focus in having more of Bitcoin reserves.

They know how important it is as it backs the company and their operation that guarantees them that they can operate well having that reserve in BTC.

Casino operators should be careful of how certain they are that by having a bitcoin reserve, it will improve their operations. The risk of volatility should be another thing they should be concerned about. Volatility is the only reason many casinos may not want to consider a bitcoin reserve.

And, if they think that Bitcoin will back their company, then they should consider that that is not something new. Crypto casinos already exist and have been accepting bitcoin payments. Nothing much might change more than as it is now.

Yes, the concern for Bitcoin's volatility can't be neglected. And it doesn't limit them for having an only bitcoin reserve. They can have other assets as well and even in fiat reserves so that they have cash ready.

The perspective of these casinos is also about having more in Bitcoin despite its volatility is, they know where they have started and where it is heading.

Its price continues to increase and there's a certain future that awaits for it. The business itself is lucrative but they can treat it as simple as their investment that they can pull some cash when they needed to, so selling if they have to.