Topic: Bitcoin Crosses $100k. Are Online Crypto Casinos as excited as we are? - page 3. (Read 836 times)

For me, I don’t think this recent development in Bitcoin would impact any different on the crypto casinos, I believe it’s just business as usual because to the casinos, Bitcoin is nothing but just a mode of payment, so whether the price of bitcoin goes up or comes down, it really doesn’t affect them. The price surge of Bitcoin is celebrated by the community simply because they see and take bitcoin as an investment not just as a medium of payment, especially for the long term HODLers.

Any casinos that get involved and accept crypto should have a stash of bitcoin in the treasury. So, it would definitely have a significant effect on the casino's financial standing.
Well, that only depends on the volume of bitcoin the users have used to deposit and withdraw from their platform.

I don't think so. After all, gamblers place their bets based on dollar currency values. If Bitcoin gains more value, it means gamblers are going to place smaller bets in satoshis, although it remains the same in dollar costs. Casinos tend to maintain their profitability in the same range, unless some early adopters who had large sums of Bitcoin held decide to use their long term holdings to gamble suddenly, so it could mean a larger volume of bets in BTC being placed on short run.

Casino usually has a bankroll equivalent to the currency they are offering which means they are holding a huge amount of Bitcoin if they are offering Bitcoin currency on their casino.

Aside from the increasing demand of customers, they are literally benefiting on gains of their holdings whenever the price is pumping hard. Some casino like Duelbits automatically convert all currency to $. I think these type of casino might be an exception to rule.

It would have effect to casinos that accepts Bitcoin
Because the increase and new ATH would increase the number of individuals interested in Bitcoin thus improving number of potential customers.
Besides they can gain from differing prices and I can't rule out the fact that some might have some Bitcoin or other cryptocurrency before this shoot.
It may not be groundbreaking but it would bring some excitement to them.

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.

The casino will be happier than us as small gamblers. The casino have many crypto coins in their portfolio which will grow bigger in this bull run. Their profit now becomes bigger than us but we don't know how much capital they have. The bull run in the cryptocurrency makes their business grow so they can allocate some of their profit to make another promotion which can gives them more opportunities to grow their casino bigger.

The crypto industry is really bumming; some even tag the popularity to crypto, while some tag casino-wide spreads to crypto casinos, which, if checked very well, both help each other. 
 
Those casino owners right now are really on the profit line since they will have enough as profit saved as reserved, and the more that's coming in is based on the regular deposit and playing from players. Sometimes they also earn from withdrawal fees, which players pay for each of their withdrawals.

Anyone who at some point believed in Bitcoin and started investing in it is now receiving bonuses for their faith. Will a casino be any different if they have some capital in Bitcoin? I don't think so. However, it seems to me that they are running a business, and they care about the influx of funds in any currency, be it cryptocurrency, Bitcoin, or even fiat. And the more profit, the better.

It will be business as usual, as customers go, new customers will come, the job of the casino is to ensure they keep their casino attractive and service functioning. Gamblers who are used to gambling will always gamble regardless of the value of bitcoin I think, they will not be affected by the value of bitcoin.

Definitely, there's positive impact on crypto casinos. For one, more people will get acquainted with cryptocurrency market and so some of the traditional gamblers will try to explore crypto-related casinos. If they are hesitant before, they may change their mind now towards crypto gambling sites.

Exactly, they will be actually indifferent about this because it's business as usual, they get to benefit too because of the gamblers loose, they have more value for the lost coins been staked, even in payment, the value still follows up with the price as it's progresses so it's not some thing to really bother about for the casino.

Some casinos even have their coins so when you deposit in whatever coin you do, you have to convert to theirs so you can be able to place a stake and at that point the value still remains almost as same as it should be and not you really getting some extra except you make some wins then you probably get to make some profit off it just like every other time.

You're right, I also agreed with this, of what profit does the bitcoin market price have on the casinos when they are not investors, but from the way of how am seeing it, since most of the online casinos now are crypto supported, their owners will also have bitcoin along with other altcoins they have on their portfolio, since crypto is part od their acceptable payment currency, excepfor the physical gambling platforms, whereby fiat currency is the only currency they supported, as the gamblers make money with the bull market, so also are some casinos because they are also investors.

They have a portfolio of cryptocurrency, and they are promoting the use of cryptocurrency, so I don't see the reason why they will not rejoice or be excited. The gambling industry contributed a lot to the adoption of cryptocurrency; they are one who will benefit if there is massive adoption and continuous increase of the price; they are not only making profit from their platform but from their portfolio as well.

I suppose it depends on what they have done with their profits, after all to remain in business, selling a significant portion of their bitcoin is a must, however it is entirely possible some casino owners may have sold all their bitcoin, and if this is the case I do not think they are that excited about the growth in the price, since most likely they are lamenting not keeping that bitcoin, just as we are seeing many people do so in social media right now.

Could be, just for the new base line potential user.

Cause, their ads can be seeing by new user who are right now are new people due the hype of bitcoin. It's a good baits for them, to created or invite into new person. But, If you asking me do casino or player gambler care with these ?

I think no, cause most of transaction are being converted into $ each time you deposit.

I think yes they are, because they are also dealing with crypto. Obviously an increase in crypto price can mean more profit for them. Another plus thing is it might lead for them to gather a lot of customers because people are excited about their profits and one activity they can think of to spend with it is by playing gambling in a crypto casino. 4 topics about $100k BTC price seems too much already but I think there actually more than that, that I see here in our forum. Yes, topics are like that.

It usually questions the readers and the readers can give a response if what they think of the question. Casinos are a business, so there must be a change. Either they are losing or profiting. Whatever their status are but as long as they can still sustain the casino, then yeah it will still be a business as usual and it doesn't also matter if the BTC price is skyrocketing or dumping.

As a gambler myself, I find it hard to save or invest. So I'm thinking that successful people like that, may not really be into gambling. The increase in casino signature campaign, might only be a coincident to what is happening in the BTC price now. And maybe the casinos actually think of the possibilities you said there earlier. So they just take the risk. If this goes well, then congrats to them. That shows that the risk they take is really worth it.

Rise in the price of Bitcoin will attract more users to the crypto space.

If more people come to the market then people will explore the options of spending their crypto too and one of the places is casino.

More people, more money so yeah I guess they will be pretty happy with the rise of Bitcoin even though it doesn't have any relation to their reputation or anything.

right, one thing is impossible if the casino does not take advantage of this BTC increase, where big profits do not come 2x, if there is an opportunity to cash out in USDT why not, as we know the main goal of seeking profit in a business that is built, and it starts with many customers to achieve that goal if you don't have many customers then how can you achieve profit

Based on what I think, with casinos being oriented in aspects of crypto and the fact that they receive deposit in Bitcoin, I guess they should also have some Bitcoin reserve for themselves although they might not announce it because I have never seeing any article about such but know they surely have some reserve in Bitcoin and they will be happy seeing that Bitcoin price has surge so high.