Topic: Can money be saved in gambling sites? - page 14. (Read 2000 times)

If I were you, I would never trust online sites 100%, especially to svae the money right there. Online sites, especially those that are gambling platforms, definitely have risks that might harm and harm us. Not only about hackers, but also scammers or fake gambling sites that might take your money. It would be better if we have won, we can make withdrawals on these assets, and leave only the necessary money on the gambling site to do gambling activities again, say as initial capital again for gambling. With this, we will not only increase security but also be able to manage and control our capital in gambling.

Upsides of keeping your savings in a betting account:
- None

Downsides of keeping your savings in a betting account:
- You will probably never save.
- Your savings will be subject to the terms of a gambling platform instead of a bank account/bitcoin wallet (reduce sovereignty, higher risk)
- Temptation will be easier to succumb to due to the convenience of having the balance available in a better account.

If you are coming from the view that you can grow faster in a betting account than a savings account, that is completely untrue, factually and statistically speaking.

If it's about benefits then I think the casino will definitely have the upper hand here because they are the ones holding your cash and one thing about gambling is that when we gamble and lose these casino make their profits from there so you saving more there won't even guarantee you much profit and benefits also because I know the casino won't applaud you for saving your money by giving you big bonus, it's just you who will be tempted to gamble all that money there and give the casino profits from your losing

You could be right mate, as we speak there could be some persons who have their several wins stock in one of these gambling site they are using waiting for when the money will amount to maybe 7 figured before they will make withdrawal and they can be doing this without a prior notification about the risk associated to such method of savings. Like one comment from a member stated in one of the atop comments that they can be labeled with money laundry charge which could lead to the loss of their funds as you may not have forensic evidence to prove otherwise particularly if it happens to be with a non reputable gambling site.

It is possible but this one depends on the person.  Saving an amount is doable because the person involved wanted to do so.  It become non-doable if the person don't intend to save anything.


As long as your account is active, meaning regularly logging in, and it follows the requirement for being an active account and does not do any breach of contract then I do not see the account getting blocked and fund suspended.


I am asking then why are you trying to save your funds in a gambling platform when you can put it in a non-custodial wallet where you have 100% access.  I believe it is not wise to make the casino platform a bank since it is not created that way.  But obviously you can casino platform it a stash for savings but you need to meet the wagering requirement in order to withdraw those funds.

Just like the banks, they've got rules about accounts that are dormant. So if you're not going to use them, your funds might just be forced to get withdrawn or they'll take it. I haven't thought of this but I think somehow there are some reasonable reasons why some are doing this.
They're keeping funds and wealth through their casino accounts so that they won't be traced on how much wealth they've got, maybe some like that? But casinos are casinos and they should be used the way they are and shouldn't be a platform to keep your funds not unless they've got some good programs that makes their users keep money through them.

Probably they are leaving that money on a casino site because they still have the intention to gamble and that is the most convenient way for them to continue gambling. I honestly see this as a risky decision to put big amount of money on any casino and leave it there because you don’t have the control over that money and if something bad happened to that casino for sure your money will also be affect so better to think about before doing this.

Business entity are very difficult to trust, they will disappoint you when you least expect and when that happens, it will end in regret and had I know. To disallowed this from happening to you, it's better you don't think of such idea because any business can become crippled in a day and if you have something stuck in there platform, you will be a victim. You may likely get your money or you may not get it, that depends on if you really read the terms and conditions during the course of registration, if they gives reasons why you may not have your money and you agree with them, then that's all for your money.

Your wallet doesn't itch you I believe, why not save it under your care instead of entrusting your money into another people you just won their money, don't you think they get hurt when they see you win and your balance keeps increasing. The early you start practicing self holding the better and safer your money.

This is the problem if a player decides to leave some of his funds inside the casino.
There are casinos that they will charge the player if the account is inactive for certain number of months.
So better transfer your money to your own wallet if you will not be playing anytime soon.
It is like giving your money to these casinos if you happen to have long pause about your gambling activity.

I personally in this case still keep money in my gambling wallet but it's only a small portion because every week I always budget for gambling so even if it runs out then it doesn't matter to me especially now I always like sportsbetting especially in football so every week there must be a bet that I do because otherwise there is always a sense of lack.
As for when we do have self-control I think it's still a problem to keep money in a gambling wallet because even if we can control it but there is a condition that we might be consumed by the aggressiveness in gambling that makes us forget that limit so I think it's still a careless act if someone keeps money in a gambling wallet especially if it's savings that are not intended for gambling.

I actually thought of this before sometimes. I think there are millions of gamblers around the world that are just leaving their money in their wallet accounts in casino websites. If there was certain incentives these money could be used in different operations that would benefit both casino and customer. Its actually neat idea if you point out potential here but as we all know its up to big casinos and their decisions.

casinos are not wallets, in casinos there are rules such as the rules that say that when a person makes a deposit, that person must play with 100% of the deposited amount so that he is later able to make a withdrawal, in many casinos this rule It is much heavier, reaching the level of asking for 2x or 5x or even 10x of the amount deposited so that the person can make withdrawals. imagine that you have 1000$ that you are waiting for someday to be used for some urgent problem, you take that money and fall into the madness that you can save that money in some casino, make a deposit in the casino

what you will see next is that you will no longer be able to withdraw that money, because you will have to play with all 1000$ to be able to withdraw, if they are in a casino with 10x requirements then you will have to transform the 1000$ into 100,000$ in played money to be able to withdraw, so the real chances of you actually being able to do that are few chances, that is, your 1000$ will be lost the moment they are deposited in some casino. I believe you have already heard this phrase: only deposit money that you can afford to lose. this is not a joke phrase, it is not a phrase created to be a joke. this sentence is very important that all people take it seriously

casinos are not wallets, casinos are not places for investment, casinos are places for fun, when people put money in the casino, they are putting money for fun and should not expect to leave with profits. this is the same as when a person buys a ticket to watch a movie at the cinema, that money that was spent buying the ticket is money that will not come back, but the person will have fun with the movie that he will watch at the cinema. this is an example of putting money into the casino. I hope you don't use casinos as if they were wallets, because you will lose money if you do.

Yeah, Casino has rule about this on their ToS that they have the right to freeze, confiscated or lock the money inside the casino wallet if there’s no activity done on the account for a certain period of time. This is a clear sign thay casino doesn’t want to be use as storage instead all money should be withdrawn when you are not using it.

There’s an exemption to this if the casino has the feature to invest on bankroll.

Even if it's possible, why would someone do that in the first place? A casino platform is meant to be used for gambling just like an exchange platform is to be used for trading purposes, none of these two are to be used as a storage for your money since they are not built for that and there can consequences for that. One can easily keep their money in a wallet and keep that encrypted and safe, is it that difficult to create or get a wallet? It definitely isn't.

I don't even know if a casino would allow you to just keep your account idle while it's having money, they might even ask you to withdraw the money if you are not using the platform, even if they don't, what if something goes wrong like the platform gets hacked or maybe your account gets compromised?

Wasn't this one of the plots for an episode of the Simpsons? When Homer decided to save money for Lisa's high education within a poker gambling website instead depositing it on a bank account? 

Anyways, I would personally not deposit savings in a casino. I assume that the money deposited there is not protected by the same laws which are used to protect bank accounts in the case of a bank going through bankruptcy. The only instance I would actually see someone using a casino as a saving account would be if that person does not have access to traditional banking for whatever reason.

Savings belongs to an account or investment portfolio. Pocket/gambling money into the casino.

Why would one even think of saving money a gambling  site especially crypto, I mean why is your wallet there. Apart from these gambling site actually being centralised it is very unrealistic even to save money on such platforms although there are some reputable casino that can have huge reputation but still it's not an ideal plan to actually save money in a gambling site and it would be even worst if you actually lack control over your gambling acts

I think it's good to ask this kind of questions on whether we can save money on gambling site but it is not surprising that many gamblers are already saving there money there without fully aware of what they are doing. Leaving all your funds and profits you have made for a certain period of time on a gaming or gambling website is just like we are saving our money there.

This is when some persons will know the harm they are doing to themselves having the mindset that all winnings can be left there for a better time to withdraw the funds. Many of us that have been a victim of scam casinos will understand more of what I'm trying to explain.

of the many gamblers that i have met, no one has told me to save their money on online gambling sites or offline casinos, so the idea of saving in a gambling site account is a little ridiculous, but you can make several gambling sites a place to invest ^{(currently there are many sites online crypto gambling that accepts investors like freebitco or betfury and others)}, and i think investing in gambling sites is better than saving on online gambling sites ^{(especially if you use cold money to invest in these gambling sites)}

Investing in gambling sites is actually very profitable, especially if you choose the right online gambling site because the velocity of money in the gambling market is very fast and plentiful, especially online gambling, gambling is big business.

Bad idea,  with my experience with many centralized platforms ls that just park off and zoom off with investors' money,  I won't dear to save my money on a gambling site,  and even though they present some form of investment package for such money,  I won't still risk my money on them.
It is better to have my money in my wallet and only deposit a little amount I want to gamble with into the casino, Aside from that,  once my balance increases to a certain amount,  I make sure to withdraw it into my personal wallet that way I can be at peace and be in control.

You’re in way more risk saving on gambling sites than you would be saving in fiat banks. Both might be centralized systems but, you’ve hit means to recovery with some given the regulated status and jurisdiction of operation and that’ll be for the fiat banks but when it comes to gambling sites, you’ve got a whole lot of other things to consider.

Come to think of it, gambling sites could short down at any point and there would be very little you could do about trying to get your money back. At most, it would take a lot out of you to archive much success.

You could be labeled a money launderer for engaging in such habits and it wouldn’t end nicely for you. You’ll still be the one to lose. So yeah, it could be done but, it ain’t a best idea to have your savings done on betting sites.