Topic: Bitcoin Crosses $100k. Are Online Crypto Casinos as excited as we are? - page 5. (Read 836 times)

they should be excited on a normal. one thing is that even though for most of them, they would prefer to always convert there profit to a more stable asset like the USDT but since they are directly involved in crypto, they should have been following the trend of bitcoin bull enough to also invest in bitcoin even though it is going to be different from whatever is coming in through the gambling platform. if bitcoin suddenly goes remarkably down, its going to affect their users who might not be psychologically ready to gamble which will affect there business, with bitcoin going up, it means more profit and people will be willing to wager more money which means greater profit for them and that alone is enough reason to be excited that bitcoin has gone above $100k.

There's likely a good bunch of them who are excited about how the price is snowballing specifically the ones that allow you to gamble with a pure balance.

The profit they gain from holding Bitcoin and altcoins should help them grow their casino since this gives them a bigger bankroll potentially allowing bigger limits and more depending on what they plan to do with the residual cash.

From their perspective, this sudden upswing might've accelerated their plans assuming they already have one laid out.

Well, $ 100 thousand is a psychological level, especially now at the moment, the rate is already $97 thousand. So I don't see what should suddenly change from crossing this price level. Bitcoin belonging to the casino has become more expensive, well, they have become more expensive for all holders. The casino's profit level does not depend on this. It is possible that the number of players in cryptocurrency casinos will increase due to the great interest in cryptocurrency due to the bull run.

Online casinos have no business being excited as we are because monies deposited into casinos are like virtual funds on the website as the real funds are store in their hot/cold wallets. I even have the feelings that most of the casinos may chose to keep most of their customers money as stable coins to protect their business from the volatility of bitcoin. The only time they will enjoy the gains of bitcoin is if they are actually holding bitcoin. Although they might want to be in solidarity with the bitcoin community, this way they can be excited just like many of us are that bitcoin reached $100k.

I am sure that since the outcome of the US election when the bull run started most casinos have increased their revenue. The few that have not increased it will be because they are poorly managed or something like that. It happens as in general with the economy, when the prices of houses and the stock market rise, people tend to spend more, because they feel richer. Now that people see that their bitcoin is worth more they will also tend to spend it more, and casino regulars are no exception.

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.

They are excited too for two reasons. 1. They are excited as they are holding crypto on their own too so for price increases they are getting the same excitement as us. And 2. they are excited because of the price increase of crypto-currency many users will re-invest in gambling from the profit of the crypto which makes them too much excited.

I think they're also excited as us. They are for sure holding some Bitcoin reserve that have been there for so long and that's to help them sustain their business. So, who's not going to be excited and happy when bitcoin crossed $100k? all of us do except those that don't hold any. They'll continue to business as usual but with their holdings and portfolios that are also in there, they're for sure somehow happy with it and they'll just going to keep it or use it for funding more of their business growth and infrastructure and security.

Indeed casinos are big spenders, the total amount of daily payouts is enormous, so, they'll need fresh depositors to add up the existing gamers, and build up financial gains to run the business. Considering the large sum of funds transacted by the casino, lots of financial factors may not excite them like a new big roller would.

The casinos are also happy for the following reasons;
1. They will have more customers patronize them because gamblers are on profits
2. They also have reserves in cryptocurrency which must have risen.
3. The casinos that have tokens will see their tokens appreciate
Etc
It's a win win case for all.

Most of the casinos that we are seeing are holding bitcoin also, so bitcoin price increasing is also a plus for them,  at least there will be an increase in their profit, so I will say even the casinos will definitely be happy with the increase in bitcoin price that we are experiencing currently. So they are definitely going to be happy also, the only people that are going to feel bad because of the current increase in bitcoin price are the set of people that have been having the intention to invest in bitcoin, but they never invested, but people or companies holding coins in their wallet are really happy with the current pump.

if you got a lot of excitement because many persons expected it to reach to the level it is now but that thing that want to ask is that has bitcoin reached 100k can it affect gambling or can it have any advantages in gambling because I think it has the people who will benefit in the increase, of Bitcoin is those people who purchase bitcoin when the price of Bitcoin is low and they hold bitcoin until the price of Bitcoin get increased so I believe that it is the people that can be excited over hitting 100k

That's if the player has a minimum betting amount they do with bitcoin at a particular casino, which they just want to stick to, or the casino has a minimum betting amount that can be staked using bitcoin.
 
If not, what will stop the person from just making their deposit based on what they want the volume to be equivalent to in USD, since the majority of the casino calculates bets on fiat value, unless the player has so much profit from holding bitcoin and wants to spend some in gambling, which could trigger a higher bankroll, meaning more money for the casino to win over?

The title says it's online crypto based casinos so we are talking about them here.

And with that, for sure they are very happy to see Bitcoin crossing $100k as they have a lot of reserves, as they are ready to pay their customers if someone hits big. As everyday, there are a lot of gamblers hitting huge money.

But if the price goes 6 digit today, and if you have to look at the historical logs for this bear-bull cycle, lowest low is $15k. And from current price of $100k, it's a staggering 500% growth or higher if my math is correct. So they could be looking at that kind of profits for casinos that spring in 2022.

Surely they should be because their business operation allows them to keep some of their own reserves in crypto so in fact they must be becoming richer. I remember primedice had a jackput of 115 BTC up toms few months ago. That jackpot was cancelled so now they have 115 BTC to do whatever they want with.

Keep this in mind, they're rich from money that would have otherwise been set aside for gambler rewards. Virtually so many crypto businesses could simply stop operating and just sell their reserves for more profit than their operation which is funny to think about.

Like yeah it's profitable but selling crypto reserves is 100x. It sounds so silly to consider. I wonder if it's gonna happen by some admins that have been long in the scene otherwise.

It depends on the type of casino if you ask me. Firstly if it's a fiat casino it may not be much of a big deal however for crypto casinos it is definitely a nice call for most of them giving that they literally deal with crypto, then there is actually a very high chance that they have some bitcoins they have in stock too.
Another thing to note is how long this bull will last because as at this morning when the news was still very exciting and all over the place were at 104k and just now a couple of minutes before I typed this when I checked we are currently floating at 99k. The longer it lasts the more people can take advantage of it including casinos.

This was what I imagined while reading the op but later discovered you are already ahead of me. But I still want to buttress on it.

Generally when there's more money in the hands of consumers they will want to spend more than usual and this can be related to the online crypto casinos and the gamblers. Seeing your hodling multiples without sweating for it gamblers will want to spend more time with that excitement as they have gotten more money to add to what they can afford to risk losing as they gamble.

Consequently, the casinos can capitalize on this yuletide season coinciding with the $100k bitcoin price to introduce a few promotions and bonuses and be sure of having massive patronage from customers since there's much money to go round this period for bitcoin holders that are into gambling

A higher Bitcoin price likely means some players will put down larger bets.  More money moving around is good for business, so I figure crypto casinos stand to gain a bit.  But unless the house is holding Bitcoin, the advantages probably isnt too huge.  Its not as straightforward as it seems.  The price goes up, but that dosnt directly put more money in the casinos pocket.  They still rely on what players bring to the table and  so Id say higher prices have a smaller impact than what some may think.

Goes on business as usual on which it doesnt matter on what the price of Bitcoin would be because if we do tend to look up then they are accepting different kind of coins into the platform on which they arent that focusing too much on Bitcoin alone but also in other options as well because there would really be those gamblers who do make us of other coins instead of BTC. but since we are talking about Bitcoin itself then it cant be denied that its owners will really be making up huge amounts of profits aside from getting revenue into its players at the time that their Bitcoin wallet or stash do make out some significant growth overtime and thats really that an advantage if they do able to hold up but we do know that not all the time the market will really be like this. How about when extreme bear market hits? Pretty sure that it will really be affecting out the profits that they had made earlier once the market do make out some corrections.

Trying to look back into that bear market of this cycle on which it did really cause up for some platforms not limited to gambling had closed its doors because of having that huge impact plus having no demand and recognition of such service on which its not already feasible for them to continue, thats why the have decided to close their doors. To those who had sustained and survived that bear market then that basically means that they are really that prepared for such condition.

Every business that accepts bitcoin will definitely be excited about this news, as there will be a small share of that positive growth for them.
 
Even if they don't have enough treasury reserve in Bitcoin, their cold wallet will hold some, which they use in paying off winnings for those who withdraw through Bitcoin. Now that the price has reached $100k+, the value of whatever volume they stack will increase, which will result in using lesser volume to pay a higher amount, which will be equivalent to the current price as of the time the gambler requests a withdrawal.