Betting feature at exchange - page 2.

Oceat

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Yet another weird idea again that i've come to witness. Grin

Regulations might change a little bit here if this idea would come to reality but i have a feeling that it won't work for a platform that used to be for trading and not for gambling. Two different platforms in a single platform is kind of odd if you think about it.

Aren't these traders are stressed already with the market situation and yet you have to add some fun yet stressing gambling on a trading platform?

vintages

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I will never even play or use any exchange that has a gambling features, in it.
This is them calling me to spend all my funds in gambling.
An should exchange to stick to what they know best which is providing a better platform for traders. And not involving in 'Jack of all trades' yet becoming less reliable.

leowonderful

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Pretty odd combination, regulations involved with operating the exchange and the casino might get in the way but I don't see this being particularly successful anywhere simply because they're very unrelated, and I don't think any major exchanges are going to implement this feature. If I ever wanted to bet I'd just deposit coins from my hot wallet rather than using coins from my exchange account, and I typically trade on larger and more reputable exchanges unlike YoBit and TopBTC.

Might work on margin/leveraged trading sites where people essentially gamble with 100x leverage though. Tongue

Betwrong

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I stand with Ukraine.

I think adding betting feature to an exchange is a bad idea because those are different business models. You shouldn't serve sushi at a pizzeria, and yet some places are doing just that. I think Yobit, mentioned in this thread couple of times, is a good example of what a crypto exchange shouldn't be so the dice game on the site doesn't speak in favor of adding this feature to an exchange.

Becky666

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Let me start by saying this; if its not an exchange then its a gambling platform and if its a gambling platform then its an exchange, don't combine the two into one because it can't be successful though. Specialties matters when it come to cryptocurrency as many competitors are out there to compect with others. If its an exchange, you stand a chance of be successful or gambling platform you stand a chance of be successful but with both, success is dwindle.

mirakal

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IMO, if the exchange is regulated, they cannot put a betting platform on it because it's 2 different platform.
However, if they can and the exchange is reputable, then I think that's good for us gamblers and traders at the same time since we can easily trading coins and we don't need to use other exchanges to do that.

I haven't use the exchange you shared yet, but during my early stage in crypto, I have only seen one exchange which has betting feature, actually it's a dice game and that was Yobit Exchange.

maydna

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Quote from: pandukelana2712 on August 16, 2019, 10:48:16 AM

Guys, what you think about betting feature at the exchange?
As far as I know, exchangers are a place for traders, not gamblers.

I think that is no problem for the exchange, and perhaps they want to grow their business by creating gambling games so they can gain new user to come to their site. People will get two option for making money, and they can use one of them or both to make money.

Quote from: pandukelana2712 on August 16, 2019, 10:48:16 AM

Interestingly, TOPBTC users can enter the feature without register.

So, will this feature make new visitors/users increase? Or it will make trader annoying?

I guess that will attract more user to trade and to gamble in that site. I don't think that will make a trader annoying because each trader will have their reason why they use the site, and if some of them are using the site for trading and gambling, then it's up to them. Besides that, the feature will help gamblers to play with ease, and they can hide their email.

DarkDays

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Exchanges will never implement a betting feature simply because they are in the business of maintaining good customer relations over the long term. Beyond this, since the great majority of trade volume comes from institutional traders, high-frequency traders (e.g. trading bots) and hedge funds, the betting tools would only appeal to a small fraction of their user base.

I think your best bet is to use a casino with build-in exchange functionality, because vice-versa aint happening.

joshy23

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Quote from: aioc on August 18, 2019, 12:03:12 AM

Quote from: Tipstar on August 16, 2019, 12:09:53 PM

The first time I found a gambling option on an exchange was yobit. They have a dice with 2% house edge that supports multiple currencies.
Trading and the hot topic of this time, margin trading are a form of gambling but dice and other betting do bring some fun to the exchange. But I'd still prefer an exchange without gambling option as I have my priorities for different places.

Yes they have one integrated with their dashboard, you will enjoy playing the dice game while waiting for a good price in all your coins or to get your orders completed, but I doubt if this is fair game, I still prefer gambling dedicated sites, because it's their business to make their platform as fair as possible.

That's one of the benefits if there's something like this inside exchange you can take some game for your past time if you can get away of being engaged too much and be so addicted as you'll be ruining your chances to earned but also chances to burned everything out if you mismanaged your investment.

nakamura12

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Quote from: shoreno on August 16, 2019, 12:20:34 PM

Quote from: nakamura12 on August 16, 2019, 11:44:19 AM

IMO, if an exchange has betting feature then the users will increase or not because it depends on the users if they are interested to an exchange that has betting feature.

it will increase the user because traders are risk takers and what they doing is already considered as a gambling . this was also the reason on why trading exchange owners comes up with the idea like this and the same as gambling owners that sets up a trading feature inside thier platform for extra income .

ive seen alot of trading exchange that has a gambling feature and i think that was cool because traders will not get bored if they are waiting for thier orders/transactions to be procesed .

It's what I just stated in my previous reply that the users in a betting exchange will increase or not. You get my point? It may increase or it will stay the same as it was. You are right and it is true that traders are indeed risk takers. Why not use a betting exchange sites the same as Betfair, Fairlay and BetBTC.

RivAngE

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What doesn't kill you, makes you stronger

TopBTC looks like another scummy, dead exchange which is used by bots alone.
I tried to ready this betting related announcement you linked, but I couldn't understand much through their terrible English. Another Chinese exchange I suppose?

I don't see it as anything useful really, as someone said very accurately... "Jack of all trades, master of none", though the "all trades" part is not very accurate here! Tongue

jrrsparkles

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Quote from: Polar91 on August 18, 2019, 12:50:32 AM

Quote from: rosezionjohn on August 16, 2019, 12:36:32 PM

Isn't the "Buy" and "Sell" buttons already a gambling feature for these exchanges? Cheesy

You got it. These buttons are already gambling for newbie traders Grin

Seriously, it'll be a good idea to put a gambling feature in crypto exchange. This will lessen the burden of the traders who didn't make any profit for a day. Also, a trader won't need to log in another account for him to gamble after trading this it's less hassle. On the other hand, in forex I think they are doing and it's called Binary Option (Please correct me if I wrong).

I believe this is an opportunity for the traders to lose more money without going to another site because we already knew that no one is going to profitable on gambling as long as they were betting,they have to live with that hope.

Polar91

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Quote from: rosezionjohn on August 16, 2019, 12:36:32 PM

Isn't the "Buy" and "Sell" buttons already a gambling feature for these exchanges? Cheesy

You got it. These buttons are already gambling for newbie traders Grin

Seriously, it'll be a good idea to put a gambling feature in crypto exchange. This will lessen the burden of the traders who didn't make any profit for a day. Also, a trader won't need to log in another account for him to gamble after trading this it's less hassle. On the other hand, in forex I think they are doing and it's called Binary Option (Please correct me if I wrong).

Vishnu.Reang

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I have been saying this for quite sometime now. Emerging crypto ventures should concentrate on their main expertise for at least 2-3 years before trying to diversify. Exchanges should concentrate on their platform and make it more secure, before they jump in to gambling. A lot many of the users are afraid to use the exchanges now, as every now and then the news comes out of some exchange getting hacked. We have gambling sites that accept deposits in cryptocurrency if we want to gamble. We don't need the exchanges for that.

Jack of all trades, master of none (credits to Robert Greene).

aioc

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Quote from: Tipstar on August 16, 2019, 12:09:53 PM

The first time I found a gambling option on an exchange was yobit. They have a dice with 2% house edge that supports multiple currencies.
Trading and the hot topic of this time, margin trading are a form of gambling but dice and other betting do bring some fun to the exchange. But I'd still prefer an exchange without gambling option as I have my priorities for different places.

Yes they have one integrated with their dashboard, you will enjoy playing the dice game while waiting for a good price in all your coins or to get your orders completed, but I doubt if this is fair game, I still prefer gambling dedicated sites, because it's their business to make their platform as fair as possible.

coin-investor

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Quote from: pandukelana2712 on August 16, 2019, 10:48:16 AM

Maybe its not the first topic, but I can't find a topic regarding this issue.

Guys, what you think about betting feature at the exchange?
As far as I know, exchangers are a place for traders, not gamblers.

Today I got an official email from TOPBTC about that feature.

Quote from: https://topbtc.com/home/art/index/id/564.html

TopBTC has been widely released after the launch of the beta version of HashBet online games

Interestingly, TOPBTC users can enter the feature without register.

So, will this feature make new visitors/users increase? Or it will make trader annoying?

TopBtc is the first exchange that integrates betting features, and I find this cool and I don't think traders will be annoyed by this additional feature, for one I'm pretty sure they will create a separate page for this, or they can opt to use a subdomain for their betting.

Either way, it has a positive effect on traders who can spend time while waiting for a good price to trade.
This is something new if successful, we will see other exchanges doing the same thing.

Saisher

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Quote from: pandukelana2712 on August 16, 2019, 10:48:16 AM

Maybe its not the first topic, but I can't find a topic regarding this issue.

Guys, what you think about betting feature at the exchange?
As far as I know, exchangers are a place for traders, not gamblers.

Today I got an official email from TOPBTC about that feature.

Quote from: https://topbtc.com/home/art/index/id/564.html

TopBTC has been widely released after the launch of the beta version of HashBet online games

Interestingly, TOPBTC users can enter the feature without register.

So, will this feature make new visitors/users increase? Or it will make trader annoying?

Some traders are gamblers, the majority of traders will find this new feature interesting, now they will not have to look or go to other betting sites to bet, there is no need to transfer their coins from the exchange to a betting site, it will have positive effects on both exchange and members

Mahanton

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Quote from: panjul07 on August 17, 2019, 03:20:58 PM

Reminds me about yobit which was the first exchange that add gambling game at the main site but the game is not provably fair. How about the game at TOPBTC? I'm not a user of TOPBTC so I do not know about it yet, if it is good gambling games which is provably fair then I do think it is OK. Users are free to decide whether to use the new feature or not, I think the main purpose of adding gambling game is to boost more income for the exchange as well as to provide more fun for users.

I also remember Yobit for this matter where they do have that very shady dice game but eventually they do remove it afterwards.I don't know on whats the reason but these shady stuff is non surprising for a shady exchange.For other sites or exchange I didn't see that someone do put up gambling feature.I haven't hear about TOPBTC too and I might check it out later on.

panjul07

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Reminds me about yobit which was the first exchange that add gambling game at the main site but the game is not provably fair. How about the game at TOPBTC? I'm not a user of TOPBTC so I do not know about it yet, if it is good gambling games which is provably fair then I do think it is OK. Users are free to decide whether to use the new feature or not, I think the main purpose of adding gambling game is to boost more income for the exchange as well as to provide more fun for users.

bitcoin-shark

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i am pleased to hear about a new bet feature on topbtc, i believe that pure traders will simply ignore it, but somehow will succeed in attracting new users to the exchange...

Topic: Betting feature at exchange - page 2. (Read 653 times)