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Topic: Betting feature at exchange - page 3. (Read 634 times)

hero member
Activity: 1624
Merit: 645
August 17, 2019, 03:07:30 PM
#32
Many of us have thought about yobit in the first time because yobit have a gambling game in their website. Related to the topic, I guess that traders can play gambling inside the exchange while they trade. While they are waiting for the market moves, they can spend their time playing gambling and who knows they can win the game with a lot of coins available on that site. But I don't know if that will make that site can gain more visitor/traders to their site because that will need promotion on everywhere. I don't click the link, so I don't know about the site, I just too afraid to get something suspicious.

I think we all learned how shitty Yobit is, the only reason a legit exchange would offer a gambling feature would be greed. I still don't see the point of doing that inside an exchange when they can simply create another platform dedicated to gambling.
sr. member
Activity: 994
Merit: 302
August 17, 2019, 10:15:18 AM
#31
I haven't tried this exchange yet but if they got the proper licenses to operate a gambling feature as well, I don't see any problem with that. I don't think it is going to be annoying to existing customers since it's a separate feature. I don't think they'll be forced to try to gamble there.

On the other-hand if they so chooses, it'll be more convenient for them since they no longer have to send the money to a different casino and possibly go through delays, not to mention additional fees.
legendary
Activity: 2898
Merit: 1253
So anyway, I applied as a merit source :)
August 17, 2019, 05:18:23 AM
#30
Some exchanges does have the feature of gambling. Its not their main source but its exists like on yobit and livecoin there is such a dice game. I believe these gambling games were introduced for two reasons:
1. Break the monotony of trading and give them something else to put their money on in times of a bear market or stagnant market.
2. Additional source of income for the exchange - because anyone playing will lose to the house edge at one time.

So it is basically another method for the exchanges to prey on traders. They are risk takers after all.
Not that they are forcing you to play but it is there if you want to. Probably OP's site has introduced something similar.
sr. member
Activity: 2030
Merit: 356
August 17, 2019, 05:09:09 AM
#29
I never like the idea of having exchange and gambling casino at the same site. Both of them are different and it does not match to have both services in the same place. That's the one reason why the good exchanges do not have any gambling features and good casino do not have exchanges platform on their sites.

I think it's just a matter of preferences.

You can simply use 1 website with 2 different homepages for each product. Say, a.com/exchange, a.com/gambling. It could save your cost too as you don't have to pay for 2 domains.

There are no fundamental problems when they decide to run 2 kinds of business at the same time, as long as they can serve their customer well.

Well, you know that gambling and trading have a lot of scope and they are not small businesses. It is difficult for a single team to handle both of these at a mass level.
Have you heard of a person who is Jack of all trades and a one who is professional in one skill and is therefore perfect in that.  Wink
legendary
Activity: 2996
Merit: 1054
Leading Crypto Sports Betting & Casino Platform
August 17, 2019, 04:55:34 AM
#28
Isn't the "Buy" and "Sell" buttons already a gambling feature for these exchanges?  Cheesy

Kidding aside, adding that feature is a good way to double or completely lose the little funds that you can no longer withdraw from exchanges Wink

To some extent you may say that trading crypto is like gambling but it is not purely gambling. You have the ability to take decision on your study and knowledge and in case of bad trade , you can hold and recover (this ability is not available in gambling).

Maybe for those who are both trader and gamblers, having both features at single place is good for them.
Yes, for those who are capable of doing both gambling and trading will favor this kind of additions to their activities inside exchange, though it's really risky when you are going to gamble with your fate instead of focusing dealing with Chances using skills and knowledge anticipating the next possible position of your trading assets.
legendary
Activity: 2170
Merit: 1789
August 17, 2019, 04:43:18 AM
#27
I never like the idea of having exchange and gambling casino at the same site. Both of them are different and it does not match to have both services in the same place. That's the one reason why the good exchanges do not have any gambling features and good casino do not have exchanges platform on their sites.

I think it's just a matter of preferences.

You can simply use 1 website with 2 different homepages for each product. Say, a.com/exchange, a.com/gambling. It could save your cost too as you don't have to pay for 2 domains.

There are no fundamental problems when they decide to run 2 kinds of business at the same time, as long as they can serve their customer well.
full member
Activity: 1134
Merit: 105
August 17, 2019, 04:34:10 AM
#26
Isn't the "Buy" and "Sell" buttons already a gambling feature for these exchanges?  Cheesy

Kidding aside, adding that feature is a good way to double or completely lose the little funds that you can no longer withdraw from exchanges Wink

To some extent you may say that trading crypto is like gambling but it is not purely gambling. You have the ability to take decision on your study and knowledge and in case of bad trade , you can hold and recover (this ability is not available in gambling).

Maybe for those who are both trader and gamblers, having both features at single place is good for them.
sr. member
Activity: 2030
Merit: 356
August 17, 2019, 04:29:13 AM
#25
Wouldn't the exchanges need extra legit licenses to run a part of gambling site? I'm talking about the good and top-rated one's and not Yobit. They abide by the AML policies and probably pay taxes. There is no way they will be allowed to carry gambling operations without proper legal permission.

Having said that, they will just need to convert their traffic into gamblers by providing lucrative offers to rewards. They already have the traffic, it's a win-win situation.

Maybe they have respective licenses as I've seen several exchanges integrated by casino games like crex - they have dice and blackjack. But I don't know about their licenses if they do have. If they are running legit, more than likely they secure their gambling permits as well.

I never like the idea of having exchange and gambling casino at the same site. Both of them are different and it does not match to have both services in the same place. That's the one reason why the good exchanges do not have any gambling features and good casino do not have exchanges platform on their sites.
legendary
Activity: 2212
Merit: 1008
August 16, 2019, 10:12:39 PM
#24
There is betting feature exchange and that is Yobit exchange but unfortunately, they have a bunch of accusation and it means bad reputation. That is normal for me that exchange platform has also gambling platform or just we say vice versa gambling platform at the same time exchange platform. Windice.io gambling also has exchange but those selective altcoins that you might exchange like Bitcoin, Doge, Ethereum and Litecoin.

But to me it sounds strange if the trading platform adds a gambling feature because it doesn't fit their basic objectives, at least if they want to add a gambling feature, they have to make a new platform that runs under their trading platform, it's better than being merged. But if the gambling platform adds an exchange feature, I think it's normal as long as it's just an ordinary exchange feature for exchanging coins and not an exchange that is specific to traders. I hope you understand what I mean.
hero member
Activity: 2912
Merit: 556
Enterapp Pre-Sale Live - bit.ly/3UrMCWI
August 16, 2019, 09:11:24 PM
#23
Many of us have thought about yobit in the first time because yobit have a gambling game in their website. Related to the topic, I guess that traders can play gambling inside the exchange while they trade. While they are waiting for the market moves, they can spend their time playing gambling and who knows they can win the game with a lot of coins available on that site. But I don't know if that will make that site can gain more visitor/traders to their site because that will need promotion on everywhere. I don't click the link, so I don't know about the site, I just too afraid to get something suspicious.
STT
legendary
Activity: 4060
Merit: 1448
August 16, 2019, 07:59:32 PM
#22
Isn't the "Buy" and "Sell" buttons already a gambling feature for these exchanges?  Cheesy


Holding BTC and then gambling has a double risk to it, its common for currency hedges to be taken out in many companies exposures to even 'normal' FIAT markets.   Everything has a cost and a risk to it.     Theres definitely a crossover between the two sectors/subjects so I cant blame the company for trying to sell another product to their existing customer base.

Quote
Wouldn't the exchanges need extra legit licenses to run a part of gambling site?

I dont see why it should be much different, both can involve total losses if people can make leveraged bets for or against a crypto currency.   Why would it really need much more, just the normal anti laundering legislation perhaps.  
  If they start selling houses or cars then fair enough, if its just another finance product and the results of this one is a dice scenario I'd only see it as government red tape wasting peoples time.    
sr. member
Activity: 1932
Merit: 442
Eloncoin.org - Mars, here we come!
August 16, 2019, 07:28:41 PM
#21
Wouldn't the exchanges need extra legit licenses to run a part of gambling site? I'm talking about the good and top-rated one's and not Yobit. They abide by the AML policies and probably pay taxes. There is no way they will be allowed to carry gambling operations without proper legal permission.

Having said that, they will just need to convert their traffic into gamblers by providing lucrative offers to rewards. They already have the traffic, it's a win-win situation.

Maybe they have respective licenses as I've seen several exchanges integrated by casino games like crex - they have dice and blackjack. But I don't know about their licenses if they do have. If they are running legit, more than likely they secure their gambling permits as well.
Well, I am also curious about this. If you run an exchange and get a license it means that is separate when you are also running a gambling site? This is not new for me that there is a betting feature that has an exchange feature. But when it comes legitimation I don't know how they process on it. Indeed, as OP stated that is very common now running two businesses feature in under in one company name.
sr. member
Activity: 1988
Merit: 275
August 16, 2019, 06:54:14 PM
#20
Wouldn't the exchanges need extra legit licenses to run a part of gambling site? I'm talking about the good and top-rated one's and not Yobit. They abide by the AML policies and probably pay taxes. There is no way they will be allowed to carry gambling operations without proper legal permission.

Having said that, they will just need to convert their traffic into gamblers by providing lucrative offers to rewards. They already have the traffic, it's a win-win situation.

Maybe they have respective licenses as I've seen several exchanges integrated by casino games like crex - they have dice and blackjack. But I don't know about their licenses if they do have. If they are running legit, more than likely they secure their gambling permits as well.
legendary
Activity: 1750
Merit: 1115
Providing AI/ChatGpt Services - PM!
August 16, 2019, 06:48:29 PM
#19
Wouldn't the exchanges need extra legit licenses to run a part of gambling site? I'm talking about the good and top-rated one's and not Yobit. They abide by the AML policies and probably pay taxes. There is no way they will be allowed to carry gambling operations without proper legal permission.

Having said that, they will just need to convert their traffic into gamblers by providing lucrative offers to rewards. They already have the traffic, it's a win-win situation.
full member
Activity: 798
Merit: 109
https://bmy.guide
August 16, 2019, 06:46:19 PM
#18
There is betting feature exchange and that is Yobit exchange but unfortunately, they have a bunch of accusation and it means bad reputation. That is normal for me that exchange platform has also gambling platform or just we say vice versa gambling platform at the same time exchange platform. Windice.io gambling also has exchange but those selective altcoins that you might exchange like Bitcoin, Doge, Ethereum and Litecoin.
hero member
Activity: 2996
Merit: 609
August 16, 2019, 06:08:36 PM
#17
This is just addition of service from an exchange, everything is a business. When they've got funds for the investment they keep widening the business in the possible industries. Traders never mind gambling, but when there is direct access from trading account surely users will tend to give a try. This way there is more possible chances for success of the new service along with the trading.
Its all about business but I doubt If exchange owners would add it up since handling 2 different things into one site does really give too much work and maintenance.
From trading platform going to its gambling feature.If they do have the money and the time to handle then why not?This would be the first ever exchange to have that feature.
sr. member
Activity: 1246
Merit: 255
Leading Crypto Sports Betting & Casino Platform
August 16, 2019, 05:48:09 PM
#16
This is just addition of service from an exchange, everything is a business. When they've got funds for the investment they keep widening the business in the possible industries. Traders never mind gambling, but when there is direct access from trading account surely users will tend to give a try. This way there is more possible chances for success of the new service along with the trading.
hero member
Activity: 1722
Merit: 528
August 16, 2019, 05:39:57 PM
#15
This is my first time hearing this too.

It is an exchange so I guess I will just focus on trading and finding good cryptos to invest. I would gamble too but I will not be using my balance in that site, I would use a faucet if they had one. Do they have referrals? I also do hope they have bonuses since that would also boost their users not only investors but also gamblers.
member
Activity: 1120
Merit: 30
Bisq Market Day - March 20th 2023
August 16, 2019, 05:18:57 PM
#14
Couldn't exactly understand while there should be an exchange that will have the features of a gambling platform, personally I don't think its going MTO be more attractive to both gambler and traders. If it is an exchange so be it or a gambling platform so.be it, I will want to see an exchange or a gambling platform.
legendary
Activity: 3136
Merit: 1233
Bitcoin Casino Est. 2013
August 16, 2019, 04:41:07 PM
#13
I don't think users who are regulars on exchanges do care much about gambling,sure they may give it a try but that is it.I am sure that they will be focused only on their main business,exchanging money.This feature is annoying to users but may be beneficial to the exchange if some users from exchanging turn out to become heavy bettors.
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