Bitcoin casinos to surge in German market?

Vaculin

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Quote from: adzino on September 10, 2020, 03:41:09 AM

Not sure if they are banning all the online fiat casino you are talking about. I was reading about Germany removing and banning all "illegal" unlicensed ATM currently situated at the different cities and then I remember seeing a glimpse where the writer was saying that they were doing the same with fiat casinos that were operating without license. You wouldn't be able to play over there. I don't think licensed casino faced any problem.

What I understand on the topic is, Visa and Mastercard were ban as a payment processor for gambling and paypal has also stopped processing online related to gambling, so these are big payment system and there's still a lot of payment system that these gamblers can use for sure.

However, with the absence of these popular payment system, it will present an opportunity for bitcoin to be use as a payment system.

We are only seeing the opportunity here but nothing has been proven yet as for sure government will do something to stop people from accessing easily in gambling sites especially the no regulated ones.

adzino

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Not sure if they are banning all the online fiat casino you are talking about. I was reading about Germany removing and banning all "illegal" unlicensed ATM currently situated at the different cities and then I remember seeing a glimpse where the writer was saying that they were doing the same with fiat casinos that were operating without license. You wouldn't be able to play over there. I don't think licensed casino faced any problem.

Timelord2067

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Quote from: Bezobraznike on September 09, 2020, 04:45:29 PM

Timelord2067 you are right, withdrawal fees can be high in some casinos, but in the same time there are crypto-casinos
with lower withdrawing fee. What I think once people start with crypto-gambling they will not return to PP or Credit Cards,
they will see how process can be easier with crypto-currencies. And here we talk about Bitcoin and Ethereum, for many
other crypto-currencies fees are still very low and you can gamble with many of them on many places.

I think the Bitcoin Lightning Network is the way forward for online Casinos - as LoyceV has said elsewhere, you can place a wager direct from your wallet and be paid out directly back into your wallet via the Lightning Network. (insert slight caviet here that LoyceV hadn't mentioned - you need to have inbound capacity or else your a non-proprietary wallet such as Blue that will allow seemingly unlimited inbound capacity).

Increasingly people will turn away from PP and Credit Cards when they compare the transaction fees (as long as they aren't excessive)

Bezobraznike

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Quote from: Timelord2067 on September 08, 2020, 02:29:04 PM

Quote from: Waffen on September 01, 2020, 02:17:37 PM

Since they banned visa and MC, also paypal, how german ppl can do gambling? Is Stripe an option? Huh

Ironically, people might want to revert to using PP or Credit Cards when online casinos start bumping up their withdraw fees and corresponding TX fees.

Timelord2067 you are right, withdrawal fees can be high in some casinos, but in the same time there are crypto-casinos
with lower withdrawing fee. What I think once people start with crypto-gambling they will not return to PP or Credit Cards,
they will see how process can be easier with crypto-currencies. And here we talk about Bitcoin and Ethereum, for many
other crypto-currencies fees are still very low and you can gamble with many of them on many places.

MFahad

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Quote from: AicecreaME on September 09, 2020, 10:49:49 AM

This paves way to crytocurrency community as many users will use crypto because of banning the two digital payment method.

It was said that the Visa and Mastercard transactions were banned because illegal activities made through it on illegal casino websites. Perhaps the government is just protecting its people from possible harm and danger of interacting with illegal gambling platforms. Because by interacting with it comes a great risk, since it's not regulated and authorized to operate.

Crypto's demand could rise depending on the needs of the German gamblers. I just hope they wont use crypto in engaging on illegal casinos. So that, the government would trust its potential use and would not dispute it because of bad reputation - like being known to be a nest for criminal acts.

If the government banned the master/visa card transactions on casino and people shifted to crypto currencies to gamble in casino, they will not help the government in any way and any illegal activity which was conducted before through these credit cards can now be more easily conducted through bitcoins and crypto.

AicecreaME

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This paves way to crytocurrency community as many users will use crypto because of banning the two digital payment method.

It was said that the Visa and Mastercard transactions were banned because illegal activities made through it on illegal casino websites. Perhaps the government is just protecting its people from possible harm and danger of interacting with illegal gambling platforms. Because by interacting with it comes a great risk, since it's not regulated and authorized to operate.

Crypto's demand could rise depending on the needs of the German gamblers. I just hope they wont use crypto in engaging on illegal casinos. So that, the government would trust its potential use and would not dispute it because of bad reputation - like being known to be a nest for criminal acts.

iTradeChips

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This would definitely be a good year for the crypto casinos since this will switch many of the fiat players to make the switch to cryptocurrency. This move will also prevent unwanted addictions from people who think they can do anything in life with a swish of a credit card. I am pretty sure most of the European cryptocurrency casinos would be preparing themselves to accommodate a growing number of people that will be switching to their sites. Win win for the government and the bitcoin casinos.

electronicash

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Quote from: Timelord2067 on September 08, 2020, 02:29:04 PM

Quote from: Waffen on September 01, 2020, 02:17:37 PM

Since they banned visa and MC, also paypal, how german ppl can do gambling? Is Stripe an option? Huh

Ironically, people might want to revert to using PP or Credit Cards when online casinos start bumping up their withdraw fees and corresponding TX fees.

maybe so. the convenience of pp and credit cards is always the choice. withdrawal fees is just going to make it heavier for bitcoin to be used when its price goes up. we felt it already even before it spiked to its ATH. not ideal. the ban of pp and credit cards make sense why the German market for bitcoin casino will go up. it proves gamblers are going to take a step to learn how to use btc and learn crypto to feed their craze to gamble.

Timelord2067

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Quote from: Waffen on September 01, 2020, 02:17:37 PM

Since they banned visa and MC, also paypal, how german ppl can do gambling? Is Stripe an option? Huh

Ironically, people might want to revert to using PP or Credit Cards when online casinos start bumping up their withdraw fees and corresponding TX fees.

South Park

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Quote from: TimeTeller on September 01, 2020, 07:49:53 PM

Quote from: South Park on September 01, 2020, 02:32:51 PM

The problem is that governments think they can do whatever they want and that people are simply going to obey and while this is true for the most obvious of laws in this case I think many people will think of this law as something completely unfair, after all most people can control their gambling without any kind of problem and now these restrictions are going to take away a source of fun and happiness which is so needed during this pandemic, so it is likely many people will simply ignore the restrictions and use bitcoin to keep gambling.

And in this digital age, players can work around not to be confined with government laws and regulations.
Online casinos are getting popular because some of them don't require KYC especially crypto casinos.
So it is not the best interest of the government to restrict their constituents, because these gamblers will always find a way how to address their desire in gambling.

I agree, trying to restrict the liberties of people will always bring trouble, however we can understand several cases in which those restrictions are good not only for society but also for ourselves as well and so we're willing to sacrifice a little bit of liberty to improve our security. But what we are seeing the German government doing is simply unacceptable, they are restricting the liberties of their citizens for no reason at all and when that happens it is obvious that people are going to resist and in this case they have the perfect tool in bitcoin to do so.

iv4n

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Quote from: PurpleFrog on August 17, 2020, 09:56:41 AM

After the German government banned Visa and Mastercard in casinos in June and PayPal stopped processing online casino transactions because of sanctions last year things are starting to look good for bitcoin casinos in Germany.

What do you think?

The same I always think, people don't wish to bother themselves with banks and third party services. Unsatisfied with centralized systems they will turn to crypto, borderless and decentralized, full of many possibilities, where you can create your own way with your own terms. Who discover crypto and all the benefits will stay bonded for crypto forever.
What that has with crypto gambling? The same can be applied for crypto gambling, who discover benefits of crypto gambling will stay here forever, they will not return to online fiat casinos. I will not compare online with land based casinos here, land based casinos have charm that can't be beaten, but when it comes to online gambling industry crypto will win this, it's just a question of time.

Viscore

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Quote from: Waffen on September 01, 2020, 02:17:37 PM

Since they banned visa and MC, also paypal, how german ppl can do gambling? Is Stripe an option? Huh

Then, their best option is to use bitcoin in gambling. That is the given opportunity for bitcoin casinos and they are expecting more gamblers to visit their site.

We might say that banning Visa and Paypay of having the disadvantage but it on the other side, it helps people to adopt Bitcoin. There will be having room for German gamblers to make use of their Bitcoin and enjoyed it.

TimeTeller

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Quote from: South Park on September 01, 2020, 02:32:51 PM

Quote from: jrrsparkles on August 29, 2020, 03:20:20 PM

Quote from: South Park on August 27, 2020, 02:09:20 PM

It seems that many governments are still operating in a world in which bitcoin does not exist, I understand that governments need to crackdown on illegal gambling sites but it seems the German government wants to limit gambling itself as much as possible, and maybe something like that was possible in the fifties but we are in the 21 century and bitcoin exists so I have no doubt that all of those living in Germany that enjoy gambling will probably find in bitcoin a solution to their problems and to these unfair restrictions.

These kind of restrictions are not going to help if the government want to stop people from gambling activities.It is unfair to restrict the gambling desire but government can do anything if they want.If crypto gambling casinos increases then they will also create more restrictions to it later so online gambling is the best option for those people.

The problem is that governments think they can do whatever they want and that people are simply going to obey and while this is true for the most obvious of laws in this case I think many people will think of this law as something completely unfair, after all most people can control their gambling without any kind of problem and now these restrictions are going to take away a source of fun and happiness which is so needed during this pandemic, so it is likely many people will simply ignore the restrictions and use bitcoin to keep gambling.

And in this digital age, players can work around not to be confined with government laws and regulations.
Online casinos are getting popular because some of them don't require KYC especially crypto casinos.
So it is not the best interest of the government to restrict their constituents, because these gamblers will always find a way how to address their desire in gambling.

South Park

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Quote from: jrrsparkles on August 29, 2020, 03:20:20 PM

Quote from: South Park on August 27, 2020, 02:09:20 PM

It seems that many governments are still operating in a world in which bitcoin does not exist, I understand that governments need to crackdown on illegal gambling sites but it seems the German government wants to limit gambling itself as much as possible, and maybe something like that was possible in the fifties but we are in the 21 century and bitcoin exists so I have no doubt that all of those living in Germany that enjoy gambling will probably find in bitcoin a solution to their problems and to these unfair restrictions.

These kind of restrictions are not going to help if the government want to stop people from gambling activities.It is unfair to restrict the gambling desire but government can do anything if they want.If crypto gambling casinos increases then they will also create more restrictions to it later so online gambling is the best option for those people.

The problem is that governments think they can do whatever they want and that people are simply going to obey and while this is true for the most obvious of laws in this case I think many people will think of this law as something completely unfair, after all most people can control their gambling without any kind of problem and now these restrictions are going to take away a source of fun and happiness which is so needed during this pandemic, so it is likely many people will simply ignore the restrictions and use bitcoin to keep gambling.

Waffen

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Since they banned visa and MC, also paypal, how german ppl can do gambling? Is Stripe an option? Huh

erikoy

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Quote from: swogerino on September 01, 2020, 08:01:45 AM

I am not sure but it should be.In the center of Vienna there is Bitcoin House a small bitcoin exchange there.Vienna is in Austria but most of the laws are almost the same in Germany and Austria.For the moment I haven’t heard anything calling bitcoin and cryptos as illegal in Germany.

OP is probably from germany and knows the people out there better than us here. This is why he made the speculation of sudden market to gambling casino in their place. Well it could be true for all I know gamblera are anywhere around the world and Germany has it too. I think germany is known in betting for biking race. There are current events on biking that being held in germany. I will stand corrected because I am not too sure too in regards to gambling activity of german people. However I am pretty sure Hitler is from Germany.

swogerino

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Quote from: MFahad on August 30, 2020, 03:36:59 PM

Quote from: PurpleFrog on August 17, 2020, 09:56:41 AM

After the German government banned Visa and Mastercard in casinos in June and PayPal stopped processing online casino transactions because of sanctions last year things are starting to look good for bitcoin casinos in Germany.

What do you think?

By the way what is the legal status of cryptocurrencies in Germany ? Are they legal there ?
I don't live in Germany but if the master/visa card and paypal is banned for usage in casino, then they can easily use bitcoins and crypto currencies if its legal.

I am not sure but it should be.In the center of Vienna there is Bitcoin House a small bitcoin exchange there.Vienna is in Austria but most of the laws are almost the same in Germany and Austria.For the moment I haven’t heard anything calling bitcoin and cryptos as illegal in Germany.

glowing10

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Quote from: Debonaire217 on August 31, 2020, 01:44:10 AM

They really have this Top casinos in Germany, I think it is quite a paid site and biased, but atleast, it proves that bitcoin casino gambling in Germany is growing by seeing numerous new casinos available for people to play.

Quote

The German Finance Ministry has put it in the private money category and promised that sales evaluated at less than 600 euros would not be taxed.

More than 600 euros is already huge for most of the gamblers, but this is a good initiative to attract gamblers knowing that they didn't need to pay taxes if they just play with funds less than 600.

This would attract more users and already the trend in Germany what I know is that people love to gamble and when this type of interesting things comes up then people would get tempted to gamble as below 600 Euro does not attract any tax. This could be another reason that we might be seeing the new online gambling sites keeps coming this day.

Debonaire217

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They really have this Top casinos in Germany, I think it is quite a paid site and biased, but atleast, it proves that bitcoin casino gambling in Germany is growing by seeing numerous new casinos available for people to play.

Quote

The German Finance Ministry has put it in the private money category and promised that sales evaluated at less than 600 euros would not be taxed.

More than 600 euros is already huge for most of the gamblers, but this is a good initiative to attract gamblers knowing that they didn't need to pay taxes if they just play with funds less than 600.

MFahad

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Quote from: PurpleFrog on August 17, 2020, 09:56:41 AM

After the German government banned Visa and Mastercard in casinos in June and PayPal stopped processing online casino transactions because of sanctions last year things are starting to look good for bitcoin casinos in Germany.

What do you think?

By the way what is the legal status of cryptocurrencies in Germany ? Are they legal there ?
I don't live in Germany but if the master/visa card and paypal is banned for usage in casino, then they can easily use bitcoins and crypto currencies if its legal.

Topic: Bitcoin casinos to surge in German market? (Read 863 times)