I see that the bets on the site are denominated in USD or some other fiat. How does this work exactly?
Does your balance automatically get converted to a fiat and tethered to the market value of your coins at the time of your deposit? Or is fiat simply there as a unit of account, and your balance remains in BTC terms after you deposit?
This deviates from the norm of other BTC casinos where they deal exclusively in BTC denominations. Please clarify.
On the site there is only USD and after deposit, it is converted to fiat currency not in the original form of BTC. I don't really know how the system works but I am afraid there will be a change in the price of Bitcoin and the balance in the account follows the current price of Bitcoin.
I think it the system is similar to Fortunejack where player's balance shows in USD while playing the game but it shows the real balance in crypto on the main account balance.
Seems that roobet has their own system to convert it live automatically so anytime there is a change on BTC price then it will reflect to our balance which shown in USD.
Not many sites using the same system like this, but there are some. Probably most players are not familiar with this system but if we are familiar already then it wont be a big deal IMO unless there is a chance that our balance is deducted due to price changing
It can be confusing though
I don't deny that this system has its own benefits and advantages, like seeing the same currency (read, the American dollar) throughout the site no matter what your real balance is made of. Actually, it makes sense (despite the fact that it is somewhat confusing)
However, a still better solution would be to allow players to choose whether to use only the universal currency for all bets on the site or the one they want to gamble with (have in their wallet). I think this solution would give Roobet a certain advantage over other online casinos out there
