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Topic: Bitcoin Crosses $100k. Are Online Crypto Casinos as excited as we are? - page 7. (Read 836 times)

hero member
Activity: 3038
Merit: 617
Everybody would be excited to this achievement even the guys with just small amount off BTC still benefits from this. Casinos have more which maximized their profit in USD.

I'm not sure though if because of this the gamblers are not starting to just use the USDT to bet because of the potential gains when keeping the BTC instead. For me I would probably start using some altcoins if possible the memecoins  Cheesy
legendary
Activity: 1792
Merit: 1296
Playbet.io - Crypto Casino and Sportsbook
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?
And what will this change for them? Nothing. In terms of business.

Crypto casinos don't receive profit from the difference in the exchange rate / growth of bitcoin. This is not an investment platform or an exchanger, or anything like that. The casino receives profit in traditional money, although deposits are kept in the form of cryptocurrencies. The main source of profit for the casino is gamblers.

And from the position of "imaginary" money, then yes, the casino's profit has increased due to the growth of the exchange rate, but it is unlikely that the casino will sell these cryptocurrencies for profit, because this money is working capital and a kind of means by which their business functions.
legendary
Activity: 2394
Merit: 1049
Smart is not enough, there must be skills
Online casinos are the same as exchanges this is part of the business of course from the rise of bitcoin to $100K they are happy indirectly the assets held in some coins increase but this is still part of their business may not even care what the price is.

To celebrate this increase, casinos usually only hold small givaways to bring in new players to be interested again and that they do is part of their marketing.

But maybe the increase to $100K will encourage more gamblers to make their deposits using bitcoin to their platform.
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
If they have a Bitcoin treasury like they should, then they are probably ecstatic about it. If they hold customer funds in dollars to try and earn a yield on the backs of their users hoping to buy coins as needed for withdrawals, then they’re probably shitting themselves. This is why proof of reserves is important.
legendary
Activity: 3276
Merit: 2442
I think the casinos are also happy because they hodl lots of crypto including bitcoin. Alts are ( at least some of them) doing great lately too. Again those who have patience are getting rewarded while pigs are getting slaughtered. Good alts like ltc are doing pretty good this week. Doge already did great and looks like it will also in the future. I don't think the casinos are unhappy because of the rising prices because there are different crypto currencies for every budget out there. If you think btc is too expensive and the fees are outrageous, use doge which has way cheaper tx fees. Gamblers will always find an asset to gamble with in the end.
sr. member
Activity: 1260
Merit: 429
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, and coupled with bonuses and various other marketing words, the casino platform might encourage people to use Bitcoin on their platform and that could potentially increase the flow of money to their platform and ultimately increase their revenue. The point lies with the casino, whether they want to make the most of this Bitcoin trend or not.
hero member
Activity: 574
Merit: 554
Leading Crypto Sports Betting & Casino Platform
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?
To answer this question , we will have to get statistics or data that gives a valid analysis of the situation. I did a brief search but couldn't find anything reasonable. But with the rise of Bitcoin to this price, gamblers who are hodlers will have more money to spend if they sell their coins. Maybe it might make them increase their gambling budget which will be beneficial to casino companies. However, I have observed an increase in casino signature campaigns in the forum since the bull run this might be a sign that the season might be benefitting casinos.
hero member
Activity: 1190
Merit: 901
Livecasino.io
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?
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