BTC Halving and its effect on gambling

Saint-loup

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Quote from: BestBitcoinCasino on May 12, 2020, 01:04:00 AM

Hey! With the 3rd halving just around the corner and Bitcoin trading at about $9,200 at the time of writing, the price may break past the $10,000 mark once again in the weeks or months following [a lot of polls in regards to that here as well]

A massive price surge will highlight renewed interest in Bitcoin, which eventually may influence the iGaming industry to give more value to crypto gaming. This may result to a boom in the number of Bitcoin casinos on the market.

As Bitcoin gets more attention, more online casino operators would not want to miss the opportunity to tap the crypto gaming market. Existing operators that cater to only fiat-money players would consider accepting Bitcoin, while new brands in iGaming would launch as crypto-friendly casino and sports betting sites, for instance. Gaming dApps, for instance, may also get the boost they need to launch and get a strong following and support from the community.

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I'm not sure about that. If the price increases people will be reluctant to spend it for things like that.
Maybe some of them will want to earn more btc by gambling since he gets some value but I don't think it will be the majority of them.

milewilda

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Quote from: KTChampions on May 14, 2020, 03:18:37 PM

Quote from: freedomgo on May 13, 2020, 06:48:01 PM

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halving effect only brings hype IMO.

At the moment, yes, and I note that the hype is completely concentrated in the crypto community - bitcoin is still far from ATH and few people think of it from the “outside” world without interesting news about price records.
As for gambling and investments in casinos, it seems to me that everyone in this community already knows about the advantages and possibilities of cryptocurrencies in the field of gambling. But maybe if a new hype begins (if there is reason for this) around bitcoin, then new people will learn about this area.

Fundamentals are common and it isnt really necessary for you to learn about it unless if its relevant for you to get some concern.In matter of halving then lots of people are way expecting too much but i dont see that it would really affect that much to those who do gamble and to those who own platforms or gambling businesses.If it rose up its price then its good but if not then it doesnt matter because we know that we do always pegged
its value of satoshis to usd in the time we do play.Online gambling is booming up and theres no doubt to that and also this isnt a fairy tale on where op had mentioned of.

KTChampions

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Quote from: freedomgo on May 13, 2020, 06:48:01 PM

~
halving effect only brings hype IMO.

At the moment, yes, and I note that the hype is completely concentrated in the crypto community - bitcoin is still far from ATH and few people think of it from the “outside” world without interesting news about price records.
As for gambling and investments in casinos, it seems to me that everyone in this community already knows about the advantages and possibilities of cryptocurrencies in the field of gambling. But maybe if a new hype begins (if there is reason for this) around bitcoin, then new people will learn about this area.

freedomgo

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Quote from: ralle14 on May 13, 2020, 06:30:17 PM

Bitcoin gambling sites don't really gain anything from the halving event as others mentioned it'll help increase the value of Bitcoin but based on the previous events the effect doesn't happen right away after a day or two. We could see the price hitting above $10000 this month but that could only be a temporary effect since the price usually goes back down once we hit that point.

The effect will be more on people are investing in crypto and some might be investing in gambling sites.
however, for normal gamblers, as we can see, the transaction fee is really high right now, I tried to transact with transaction fee of 0.11 usd, until now it's still not confirm.. that's why I like altcoins to gamble and maybe soon people will choose altcoins as its cheaper and faster.

halving effect only brings hype IMO.

ralle14

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Bitcoin gambling sites don't really gain anything from the halving event as others mentioned it'll help increase the value of Bitcoin but based on the previous events the effect doesn't happen right away after a day or two. We could see the price hitting above $10000 this month but that could only be a temporary effect since the price usually goes back down once we hit that point.

adzino

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Quote from: BestBitcoinCasino on May 12, 2020, 01:04:00 AM

Hey! With the 3rd halving just around the corner and Bitcoin trading at about $9,200 at the time of writing, the price may break past the $10,000 mark once again in the weeks or months following [a lot of polls in regards to that here as well]

A massive price surge will highlight renewed interest in Bitcoin, which eventually may influence the iGaming industry to give more value to crypto gaming. This may result to a boom in the number of Bitcoin casinos on the market.

As Bitcoin gets more attention, more online casino operators would not want to miss the opportunity to tap the crypto gaming market. Existing operators that cater to only fiat-money players would consider accepting Bitcoin, while new brands in iGaming would launch as crypto-friendly casino and sports betting sites, for instance. Gaming dApps, for instance, may also get the boost they need to launch and get a strong following and support from the community.

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Not sure if its going to have any affect on the gambling. I mean, I don't see any reason or any connection with halving and crypto casinos. Though, if the price starts to rise, then people will be betting lower amount of coins (but the same value or bit more) on each bet.
I don't think fiat casinos can just jump and start accepting crypto currencies. There are laws and regulations that they will have to abide by which will make the process quite slow for them.

pakhitheboss

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I do not see any correlation between halving and gambling. Bitcoin was stable prior to halving and is still. I think this might last for a few more months. It is a good sign as it will not affect the USD value of our profits as well as our loss significantly. Apart from that, I do not see any effect of halving.

KTChampions

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The only connection that I see between gambling and halving is trading. Many traders try to guess the effect of halving and place their bets on the estimated price movement. If these bets are placed on movement in the short term, then I consider this a simple guess = gambling.

RealMalatesta

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No I have talked with couple of casino owners and they are saying they have seen an increase in their wagering. Nothing major at all, nothing significant in many purposes, only the poker places have seen some increase I suppose with all the tournaments going on, but aside from that it is not really all that changing. Even the sportsbooks have said that nothing major has changed, people like gambling and when they couldn't find the proper big ones, they kept gambling on the small ones I suppose.

Sportsbet.io steve has talked about how they have covered this period better than they expected for example. And that is sportsbook which should be doing horrible right now, when we talk about stuff like dice or any other casino game, they are doing even better obviously.

passwordnow

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Quote from: Genemind on May 13, 2020, 04:03:34 AM

I can't actually see the effect of halving on gambling. Maybe in someways it would have an effect. Even before the halving the number of new gambling platform had increased since the demand for and innovative gambling platform is increasing and more and more people are getting involved in crypto gambling. I think there will be more and more demand on it as soon as we reach the peak of mass adaptation.

The effect is with the price and it's the impact for gamblers like us.
Increase of the price will make everyone to gamble with lesser amount. That can be the other effect that would make the difference after the halving. I have same thoughts with others looking to the time before bitcoin hits all time high.

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Quote from: BestBitcoinCasino on May 12, 2020, 01:04:00 AM

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I'd rather say it's going to play out in the opposite direction

I'm not a casino operator (read, I don't have any stats), but as I suspect, it is more complicated than a simple, unidirectional relationship. For example, it can be that higher cryptocurrency prices and bullish expectations in general make people more interested in trading rather than gambling. Conversely, lower prices and overall negative expectations may turn trading folks into gamblers (there have been such reports)

LogitechMouse

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The BTC halving doesn't have a direct effect on gambling since the only thing that changed in the event is the total block reward hence, the total mined Bitcoins will be reduced therefore supply will decrease and I just hope that demand will increase so the price will increase in the long term.

Online gambling sites that are using crypto are being there already for a long time and the halving doesn't have any effect on it in my opinion. I also expect that more and more online gambling sites will accept crypto not just Bitcoin but other coins like ETH, BCH or anything which has a fast transaction speed. There are some sites that are supporting multiple coins in it already and more will do it in the future.

DoublerHunter

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^ Halving probably no direct impact on online casinos for it may have a price surge afterward but for what reason this online casinos would like to become affiliated with bitcoins in has no sense if the reason is only because of the price surge. But people are getting aware of cryptocurrency and trying to invest then more investors might also increase the number of possible gambling players using their cryptocurrencies. Nevertheless, in the mere future when more people became engaged in cryptocurrency then online casinos might as well accept cryptocurrency by then.

Genemind

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I can't actually see the effect of halving on gambling. Maybe in someways it would have an effect. Even before the halving the number of new gambling platform had increased since the demand for and innovative gambling platform is increasing and more and more people are getting involved in crypto gambling. I think there will be more and more demand on it as soon as we reach the peak of mass adaptation.

peter0425

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Nope i don't think there will be effect in gambling because instead of spending their Bitcoin to play they will instead Hold the currency and maybe try to use Fiat instead for a while so if there is an effect?for sure that is lowering the usage of crypto and instead Fiat will be indeed.

Quote from: xSkylarx on May 12, 2020, 06:47:02 PM

Indirectly, it may affect online gambling as well. The online gambling casino platform is increasing as time goes by since crypto is starting to spread especially with the halving. However, the problem as bitcoin price starts to hike the higher the fee becomes, most likely bitcoin will be the least used crypto in crypto casino.

so if does this will not help Bitcoin to grow by all means instead only casino will benefits but not the gamblers .

Negotiation

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There are many members who have invested in BTC after seeing the halving of Bitcoin due to the rising price of BTC It has no effect on gambling Due to the increase in the price of BTC, everyone is leaning towards BTC. Telegram is great for getting updated information on every currency about crypto The use of BTC for gambling is less Therefore, gambling will not be affected Online casinos increase the quality of their play depending on the customer However, due to the crisis caused by the virus many are not playing online casinos due to a lack of sufficient capital.

verita1

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I enjoyed my first BTCitcoin Halving on social media. I was excited all the time, I could also perceive the same emotion in the groups on telegram. Particularly in a group I was able to notice that there were members who were buying Bitcoin for the first time. Due to all the diffusion that was given to the event for which I think there are effects: more followers, some businesses with traditional finances are paying attention to Bitcoin, more projects in blockchain-based developments (Dapps, gaming, among others. )

LincolnMikkel

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Quote from: BestBitcoinCasino on May 12, 2020, 01:04:00 AM

Hey! With the 3rd halving just around the corner and Bitcoin trading at about $9,200 at the time of writing, the price may break past the $10,000 mark once again in the weeks or months following [a lot of polls in regards to that here as well]

A massive price surge will highlight renewed interest in Bitcoin, which eventually may influence the iGaming industry to give more value to crypto gaming. This may result to a boom in the number of Bitcoin casinos on the market.

As Bitcoin gets more attention, more online casino operators would not want to miss the opportunity to tap the crypto gaming market. Existing operators that cater to only fiat-money players would consider accepting Bitcoin, while new brands in iGaming would launch as crypto-friendly casino and sports betting sites, for instance. Gaming dApps, for instance, may also get the boost they need to launch and get a strong following and support from the community.

Looks like a fairytale for you? Share your thoughts

Be also aware of scams since those are going to pop up as well. We still remember 2017 as a year of scam ICOs so nothing would chance about gambling scams.

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Quote from: vycl87 on May 12, 2020, 01:39:58 AM

~snip~
Halving is an issue that takes place on the Bitcoin network. And I don't think this will have anything to do with gambling directly.

Obviously I also do not see anything to do between halving and gambling, because I know that there are many gambling platforms that use altcoin.
I think that gambling players won't connect it either, because halving or not, an addict won't think about it.
most importantly they can play normally.

it's just that there might be temporary interest from the novice gamblers who heard the halving news.

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Quote from: BestBitcoinCasino on May 12, 2020, 01:04:00 AM

Hey! With the 3rd halving just around the corner and Bitcoin trading at about $9,200 at the time of writing,

Are you sure about this? Where you got the information that Bitcoin is trading around $9,200?
You posted this topic today and I think the price of Bitcoin has been below $9,000 all day.

Source: https://coinmarketcap.com/currencies/bitcoin/

Quote from: BestBitcoinCasino on May 12, 2020, 01:04:00 AM

A massive price surge will highlight renewed interest in Bitcoin, which eventually may influence the iGaming industry to give more value to crypto gaming. This may result to a boom in the number of Bitcoin casinos on the market.

Is this your opinion or gathered from a source? I cannot say that the significant rising in BTC price triggers many Bitcoin casinos since I don't have data about it. For me, it has nothing to do with gambling since it has a different sector and basically doesn't give a direct impact on casino sites.

Topic: BTC Halving and its effect on gambling (Read 598 times)