Bitcoin Crosses $100k. Are Online Crypto Casinos as excited as we are?

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Quote from: Strongkored on January 09, 2025, 06:27:23 PM

Casinos probably have assets in the form of crypto as a reserve, so their assets increase if converted to fiat, but of course they will not risk themselves by selling because it is an asset that must be maintained for the long term, so I think casinos are not traders who will be very excited about the price increase because for them it is about how their users continue to play so that their casinos continue to generate profits so that they grow rapidly.

Casinos transact lots of money that the increase in BTC won't be more of a surprising event. This isn't the first bull run for most crypto casinos. Yet, businesses with large possession of Bitcoin celebrates the massive increase in profits. Making profits is fun regardless of how big or little.

shasan

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Quote from: ethereumhunter on January 07, 2025, 03:12:19 AM

Now the situation change so that gives us a chance to cash out and celebrate our profit. Maybe the casino doing the same thing like us which I am sure they have many Bitcoins as their profits. But the casino will allow the withdrawal support anytime whether Bitcoin price increase or decrease because that is the right for gamblers to get their Bitcoin. If casino can not provide this, that will be suspicious because that is the gamblers money and casino should let gamblers withdraw their money.

I think they will not cash out their sum as they have the funds of their users too and the users will play from their funds. But if they (users) cashout their funds then the gambling site may cashout but it will not be higher than the proportion of the user's fund as they must have to maintain their business for certain losses (win by the users).

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Quote from: Cityhunter34 on January 10, 2025, 12:42:49 AM

Normally the rising price of Bitcoin would bring more customers to casinos. Because as a gambler that also invest in Bitcoin whenever you make a huge profits from your Bitcoin investment you would be very excited about it. And that can make you increase your gambling budget while because you were not expecting that price at that moment, so you would be happy to use some of it in gambling. However, as a casino owners that also invest in Bitcoin, they will be much excited whenever Bitcoin crosses $100k and above, because they knows that it'll make them to have more customers.

Let us put it this way, gamblers will always gamble no matter what the price of btc is in the market. Also, with the rising price of btc, the sentiments surrounding the market is positive. Hence, it can further motivate them to play and get those winnings.

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Quote from: TopTort777 on January 07, 2025, 04:47:09 AM

That not a win-win situation for every casino. I believe most casino employees still receive salaries in fiat and do bookkeeping in fiat. For example Duelbits casino display balance in coins. You have deposited 1 BTC, on January 6 you would have ~101-102k coins. If the price of Bitcoin goes down, you would still have ~101-102k which is a win for you and loss for them, but if it goes up, its opposite. So gamblers should be cautious about crypto prices and where they hold them. In a situation, when prices goes down and they pay you more, their profits decrease. Also the more price go up, the more people wish to withdraw to fiat and spend. This means clients decrease.

Yes, you are right, things in casinos are like that, I know Duelbits has always had that policy, of course we as players should know where we have the money to risk and in what currency it is, for me everything in casinos as clients we should do it with money in USDT, fiat, everything, therefore when we are in this time where BTC will probably continue to rise, we should intelligently have our money in something other than BTC, if it is BTC then have it in our wallets, it is only safer.

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Normally the rising price of Bitcoin would bring more customers to casinos. Because as a gambler that also invest in Bitcoin whenever you make a huge profits from your Bitcoin investment you would be very excited about it. And that can make you increase your gambling budget while because you were not expecting that price at that moment, so you would be happy to use some of it in gambling. However, as a casino owners that also invest in Bitcoin, they will be much excited whenever Bitcoin crosses $100k and above, because they knows that it'll make them to have more customers.

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Quote from: retreat on December 05, 2024, 12:33:39 PM

I don't think that the rising price of Bitcoin will have a direct effect on casino operations. But indirectly it could potentially bring new customers to the casino if the casino uses the Bitcoin trend to their advantage by marketing their casino platform as Bitcoin friendly

I believe there's much excitement especially to those holding Bitcoin and then to the casino I think it's just like the daily business but an increasingly rate this time around and i think the effect it'll sure have is having more people in the crypto community cause in the casino it would seem like a little added advantage you know but the rising price would easily indulge more people to see the brighter sides of Bitcoin.

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Quote from: Davidvictorson on December 05, 2024, 12:09:25 PM

Bitcoin crosses $100k . There's a lot of excitement in the community. I have counted at least more than 4 topics related to this trending news on the forum. And they all end with questions for the readers. This topic is no different but it is related to casinos. Is this new price a plus for the casinos? Do you think they are excited about this, like it will lead to some kind of growth for them or they are indifferent to it because nothing changes, just business as usual?

As for online cryptocurrency bookmakers, they are likely to be eager to see how this Bitcoin appreciation will affect their business. In theory, an increase in the value of Bitcoin could lead to an increase in the number of bets and transaction volumes, which could be beneficial for bookmakers.

However, it is important to note that online cryptocurrency bookmakers are already used to dealing with the volatility of the cryptocurrency market and likely have mechanisms in place to manage the risks associated with fluctuations in the value of Bitcoin. Therefore, it is possible that they are more focused on taking advantage of the growth opportunities that this appreciation brings, rather than worrying about the potential challenges.

In summary, I believe that online cryptocurrency bookmakers are indeed excited about the appreciation of Bitcoin and see it as an opportunity to grow and attract more customers. However, it is important to remember that the cryptocurrency market is highly volatile and unpredictable, and bookmakers need to be prepared to deal with any eventuality.

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Quote from: Davidvictorson on December 05, 2024, 12:09:25 PM

Bitcoin crosses $100k . There's a lot of excitement in the community. I have counted at least more than 4 topics related to this trending news on the forum. And they all end with questions for the readers. This topic is no different but it is related to casinos. Is this new price a plus for the casinos? Do you think they are excited about this, like it will lead to some kind of growth for them or they are indifferent to it because nothing changes, just business as usual?

Casinos probably have assets in the form of crypto as a reserve, so their assets increase if converted to fiat, but of course they will not risk themselves by selling because it is an asset that must be maintained for the long term, so I think casinos are not traders who will be very excited about the price increase because for them it is about how their users continue to play so that their casinos continue to generate profits so that they grow rapidly.

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Quote from: 348Judah on January 09, 2025, 04:20:26 PM

Bitcoin all time high should be a period where all should be enjoying the benefits, because the value increases and when these gambling sites are also holding their asset in bitcoin, receiving deposits in bitcoin, they are going to make a reasonable amount together with other investors, i don't see a reason why they should not also make profits, as long as they are having bitcoin in their portfolio, this is an excitement together for all who have bitcoin.

No gambling company will come out to tell us how much profit from their Bitcoin hot wallet within the last all-time high Bitcoin prices, because they are afraid of the government bringing up issues with tax and the rest, but also what we should put into consideration is the fact that most of the casinos may likely not earn so much since majority of the holdings are in stable coins like USDT and at that will not gain from Bitcoin uptrend movement before it dropped back to the $92k+BTC price right now.

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Quote from: 348Judah on January 09, 2025, 04:20:26 PM

Bitcoin all time high should be a period where all should be enjoying the benefits, because the value increases and when these gambling sites are also holding their asset in bitcoin, receiving deposits in bitcoin, they are going to make a reasonable amount together with other investors, i don't see a reason why they should not also make profits, as long as they are having bitcoin in their portfolio, this is an excitement together for all who have bitcoin.

You are correct; they will make a profit from the price pump, especially with the speed with which it used to reach that $100k, but let's also not forget that the same way that people deposit with bitcoin to fund their account after winning, they will also withdraw with bitcoin, so for the casinos that don't do auto conversion and value is not automatically calculated by fiat equivalent, they will also have to pay less unit of bitcoin that is worth more based on price increase.

348Judah

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Bitcoin all time high should be a period where all should be enjoying the benefits, because the value increases and when these gambling sites are also holding their asset in bitcoin, receiving deposits in bitcoin, they are going to make a reasonable amount together with other investors, i don't see a reason why they should not also make profits, as long as they are having bitcoin in their portfolio, this is an excitement together for all who have bitcoin.

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Quote from: Dave1 on January 07, 2025, 03:44:57 AM

So in any case, casino are still going to win no matter what, and as gamblers we really have to think twice to used our precious BTC or just hold on them and uses like other altcoins or even USDT so that we can still keep on playing.

If that is very certain that it will happen, I personally would say that when it comes to casinos, whatever it is, they will have large money inflows , the income of the almost not is considerable even if it is made with USDT, or with any currency that is Stable , which is why a casino has the freedom to change from those stable currencies to BTC , which seems very appropriate to me at this time, that is why things always have to be seen from Every point of view , Players who only bet with BTC also that is something that is Respected , they Assume their risk and get their results, not bad.

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Quote from: LUCKMCFLY on December 14, 2024, 10:13:50 AM

What I think is that the casino owners must be anxious, the more value the BTC has, the more everyone plays, of course the thing with the fees is another thing, however with all the adrenaline of seeing the BTC above $100k this is something great for everyone, both for the holders, the BTC holders and for the casinos, they know that the business will increase in clients, in plays, in everything, so it's a win-win for me, of course that's my thought, I don't have a casino, but wherever I did I would think that way, I don't see any other way.

That not a win-win situation for every casino. I believe most casino employees still receive salaries in fiat and do bookkeeping in fiat. For example Duelbits casino display balance in coins. You have deposited 1 BTC, on January 6 you would have ~101-102k coins. If the price of Bitcoin goes down, you would still have ~101-102k which is a win for you and loss for them, but if it goes up, its opposite. So gamblers should be cautious about crypto prices and where they hold them. In a situation, when prices goes down and they pay you more, their profits decrease. Also the more price go up, the more people wish to withdraw to fiat and spend. This means clients decrease.

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Quote from: LUCKMCFLY on December 14, 2024, 10:13:50 AM

What I think is that the casino owners must be anxious, the more value the BTC has, the more everyone plays, of course the thing with the fees is another thing, however with all the adrenaline of seeing the BTC above $100k this is something great for everyone, both for the holders, the BTC holders and for the casinos, they know that the business will increase in clients, in plays, in everything, so it's a win-win for me, of course that's my thought, I don't have a casino, but wherever I did I would think that way, I don't see any other way.

I'm not sure about it, maybe they will continue to play, but I do not think that they are going to used their BTC as obviously the price is going up again and we are on the 6 digits. Also, casinos are only anxious if some big whales have won, not the price going up as they also have a stockpile of BTC and so when the price increase their holding and profit also goes up.

So in any case, casino are still going to win no matter what, and as gamblers we really have to think twice to used our precious BTC or just hold on them and uses like other altcoins or even USDT so that we can still keep on playing.

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Quote from: shasan on January 03, 2025, 06:59:00 PM

Quote from: ethereumhunter on December 05, 2024, 08:25:27 PM

The casino indeed very happy because this is the time to cash out their profit and celebrate with their teams. All people who held Bitcoin are happy because this moment is something that they are waiting for a long time ago. Finally they see Bitcoin crossed $100k and although the price now is down, they already taking their profit and now is the time to enjoy the profit.

But we don't know what happen inside the casino because we don't know the casino's teams. This will make crypto casino want to grow their business and collect more Bitcoin from the lose gamblers.

Yes, they can cashout and celebrate but what will happen as few whale might be in the casino too and if they win then the casino might not be able to provide the withdrawal support and in this way they may fall on the loss. Also same may happen for price drop so, I think they will not cashout.

Now the situation change so that gives us a chance to cash out and celebrate our profit. Maybe the casino doing the same thing like us which I am sure they have many Bitcoins as their profits. But the casino will allow the withdrawal support anytime whether Bitcoin price increase or decrease because that is the right for gamblers to get their Bitcoin. If casino can not provide this, that will be suspicious because that is the gamblers money and casino should let gamblers withdraw their money.

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Quote from: ethereumhunter on December 05, 2024, 08:25:27 PM

The casino indeed very happy because this is the time to cash out their profit and celebrate with their teams. All people who held Bitcoin are happy because this moment is something that they are waiting for a long time ago. Finally they see Bitcoin crossed $100k and although the price now is down, they already taking their profit and now is the time to enjoy the profit.

But we don't know what happen inside the casino because we don't know the casino's teams. This will make crypto casino want to grow their business and collect more Bitcoin from the lose gamblers.

Yes, they can cashout and celebrate but what will happen as few whale might be in the casino too and if they win then the casino might not be able to provide the withdrawal support and in this way they may fall on the loss. Also same may happen for price drop so, I think they will not cashout.

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What I think is that the casino owners must be anxious, the more value the BTC has, the more everyone plays, of course the thing with the fees is another thing, however with all the adrenaline of seeing the BTC above $100k this is something great for everyone, both for the holders, the BTC holders and for the casinos, they know that the business will increase in clients, in plays, in everything, so it's a win-win for me, of course that's my thought, I don't have a casino, but wherever I did I would think that way, I don't see any other way.

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Quote from: bias on December 09, 2024, 02:33:24 PM

I don't know how many people buy BTC to gamble at these prices. But I'm guessing that prefer to play in a crypto casino to gain more BTC in case of winning. Since their betting habits will still exist, paying a fee for having the same gambling amount in a crypto casino, gives them the chance to earn more BTC in case of winning.

They will bet and lose, that life for the gamblers who are addicted. So price matters not to them. Without betting they will continue to feel the eternal twitch that they cannot control. For them price is just a gate that needs to be crossed, what matter is the rush that every green streak provides or the tension that every red streak provides.

Quote

It's more than a win. Their company's portfolio skyrockets because of the BTC price without doing anything, and without calculating and adding all the other coins that pump like nuts. So their numbers are much bigger and that is always helpful for getting more attention, players, and of course investors.

They would not show their numbers to the players, but we can guess that the result is always golden for the owners and the players losing more is always good for the casino.

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Quote from: zuzie on December 08, 2024, 09:48:23 AM

Yes, with the increasing price of bitcoin, this will certainly be very profitable for the casino because they must have a lot of coin savings that they will sell when the market price is rising. This is the moment that the casino and gamblers, some of whom also have coin savings, have been waiting for.
Yes, for small gamblers, this moment will certainly make their hearts feel restless because they cannot save coins due to financial constraints and of course the casino at a bull run moment like this will make a lot of profit and maybe they will promote their new casino which attracts the attention of gamblers again and again.

It is very clearly profitable for casino especially big crypto casino which online from a long time ago and have many loyal members. Their profit increases so much following the increasing of Bitcoin price so that can give them more money and that will give more chances for them to grow their site bigger

We can expected those casinos making a big profit but small gamblers can actually make a profit too like casino if they can manage their coins properly. That is why when you want to playing gambling, you need to know what coin you will use and how much so we can keep the rest amount for the increasing of Bitcoin price so we can also make a profit from that.

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Quote from: Davidvictorson on December 05, 2024, 12:09:25 PM

Bitcoin crosses $100k . There's a lot of excitement in the community. I have counted at least more than 4 topics related to this trending news on the forum. And they all end with questions for the readers. This topic is no different but it is related to casinos. Is this new price a plus for the casinos? Do you think they are excited about this, like it will lead to some kind of growth for them or they are indifferent to it because nothing changes, just business as usual?

I believe these online crypto casinos will gain a lot of benefits when bitcoin price continues to surge high. First, people will be more attracted to bitcoin, which means business will grow more because of new users that are excited to play using bitcoin. Second, higher bitcoin price means bigger transaction fees, so the casino will definitely love that. And lastly, people will change their perception about bitcoin, from less vital until it becomes a source of wealth, that would encourage people to try crypto gambling in order to gain instant wealth using bitcoin.

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