Topic: Can money be saved in gambling sites? - page 20. (Read 2000 times)

You can deposit the funds but that would be a very dumb thing to do, As far as I know, casinos have wagering requirements even for a non-bonus deposit, so you are basically risking losing your money to gambling if you deposited your money on a gambling site. also, I remember reading that casinos have rules against idle/inactive accounts, It basically means that you risk your account being closed if you don't gamble for a certain period of time.

anyway, just don't deposit your savings in a gambling account, it is a dumb thing to do.

This idea doesn't sound like a good idea to me. The primary purpose of gambling sites is not to help us save money. Gambling sites are part of the entertainment industry. On gambling sites we have the opportunity to make money while having fun. That's why we use gambling sites. Using something for something other than its purpose reduces its efficiency. If we use a spoon as a knife, we can see that it is not a good tool. But if we use a spoon to drink soup, it is a very good tool. If we use gambling sites to save money, we will surely fail in the end. Because it's not right to save money in centralized systems, and we can't save money in a place like gambling where we are likely to spend a lot of money.

CASINO it's not the wallet.

Do you know the word? "Not your key, not your wallet" even with exchange we always warn people not to stored the money on there. Just created a wallet, backup the data, and leave it to somewhere else.

In-case you want to use it, then opened the backup.

Well really it can happen and not infrequently I also like to find the accounts of my colleagues who are then frozen. It happens usually because they keep money there for too long or when they want to make a large withdrawal, and suddenly there is a notification that their account is frozen. Honestly, I don't understand why this happens, but maybe some casinos just can't be trusted and they might be trying to commit fraud.


Well I also agree with that, there are still many options that we can choose to minimize losing money there, on the other hand we never know and can never predict about something that will happen, don't be too sure to say no because maybe it can happen at any time. Well now there are so many digital wallets available, everything is facilitated and we just have to choose the one that we think is safer and more comfortable. This will be very useful to reduce the level of loss that is certainly not desirable.

Aside from being risky due to security reason, leaving your asset on a service that meant for gambling while the money you are putting on it is for savings purposes is directly contradicting to each other. Casino is more on risk of losing money while putting money that is not meant to be spent will be exposed to a possibility for spending.

I don’t recommend bank savings either because it has a limited amount to be insured. Storing money on non-custodial wallet using Bitcoin is the best way to save money long term.

Casino wallet is not for you to save your coins. It is basically for you to receive reward from the casino after you have played with them. I realize most gamblers don't keep sufficient money or coins on their gambling app for long, either they send it out to their noncustodial wallet for more safety, remember not your key, not your coin because casino can have issue and seize to exist. It is a big risk to keep your coins in casino wallet, it is better with your fiat bank account.

It is possible to save money in gambling sites and the platform has no right to temper with your money but it is very risky. Wait, OP why would you even want to save your money in a gambing site when you have a bank account where you can easily save money, in my country here it is believed that people who save money in their gambling wallets are criminals because it is known that criminals send stolen money to crypto wallets or gambling wallets where it cannot be traced.

Saving money in gambling wallets is very risky, it is just like saving money in an exchange and when something happens there is no any near by physical branch where you can easily lay complain but when you save in your bank account you can easily visit the bank to lay complain when there is a problem. Also there is a risk of hack attack because I have heard some gambling sites have been attacked by hackers in the past and alot of money was stolen from people on the site and the money saved on the site were all stolen.

Most of what I mentioned above doesn’t happen often but you never can tell when they will happen so we should be cautious about saving money on gambling sites. Though the most important reason why we shouldn’t save money on gambling websites is the temptation of placing a bet whenever you see a good game that you may think is worth playing, you will always want to gamble even when it is uncalled for. You will gamble against your discipline and you are likely to lose all your money. Sometimes casinos encounter withdrawal problems and it may affect you when you are in desperate need to withdraw your money so i advise you not to save money on any gambling site if you don’t want to lose your money.

It is never a good idea not to keep your coins that are meant to be saved on any centralized platform, whether it's a casino or an exchange, We have seen people losing and crying because of keeping their coins on a centralized platform, experts and common sense taught us that coins that are meant to be for the future should be use in a hardware wallet or noncustodial coins.
One of the risks is you will be tempted to play especially if there are wagering bonuses, if the casino becomes a scam you lose your money, so do the right thing if it is for saving hardware wallet or the right noncustodial wallet is the best choices.

I think that's not the right way, because your money can be frozen on a gambling site if you don't play it and you keep it there for too long, because incidentally the case was the same as mine where I forgot my funds were on a gambling site then after 2 years I back again, my account has been suspended along with the funds, that's why it's highly not recommended I personally experienced that.

Moreover, saving it on other sites such as trading sites, that's not good, it's better to keep it in a personal wallet if your money is in crypto, obviously it will be very comfortable and safe for you to hold and save as an investment, especially since there are many wallets available and quite safe , so using it would be better than keeping it in the casino, I'm sure everyone agrees with me  

I was wondering if OP really read terms and conditions of gambling sites. Some gambling sites do not allow inactive accounts for more than one year not to talk of when it is an account with huge amount of money been kept there for that period being inactive. They would confiscate the funds or what if the gambling site shuts down and there is no access to them again do you  not think that is possible. At least you have been on this platform for some time now and if you really frequent the scam accusations board then I think you would have no such thought of saving funds with gambling sites because at any point in time some gambling sites shuts down without informing their clients and there have been lots of complaints of that nature of lately.

Moreover, it is not advisable to save funds with a third party agencies or organisations when it comes to crypto matters. Not even exchange is safe with your funds that is why the slogan was formed "not your keys, not your coin" which is still applicable to any third party crypto organisation or agency.

I have a token in one of my casinos It is not meant as savings I put it there to Stake my coin I earn interest from staking my coin in that casino, It is money on my casino account that I'm comfortable losing from the volatility of the market.

When you say saving you're going to use it for the future, I don't recommend that you do that if your coin will not yield profit, like exchange it's very risky when it comes to saving your coins, it should be your keys, not your coins philosophy that you should follow.

You are risking your savings if it's meant to be saving because like exchange, casinos are not a stable business, you never know if it will go down and you will eventually lose your money, if you are going to save your coins do it in a noncustodial wallet preferably a hardware wallet.

It is not recommended to save money for the future on gambling sites, especially if you are an active gambler, it is very likely that the money you have saved will be used for betting, little by little this money will be wasted.
We recommend that the money you have is kept as a future investment on a trusted platform

Let me answer you in four-letter words, "Just Don't Try It." It's insane to even think towards this angle as people are still battling with the absolute control of their money from banks and reliable financial institutions including brokers and exchanges, you are adding salt to injury by the suggestion of a gambling site.

What if they don't give you your money back, especially when it has appreciated so well in value and they become greedy? It will be so painful. The risk is high my friend, just don't think it, not to talk of trying it.

Wallets are there for you, don't let their voodoo catch you.

Licence or not, if I can't save money on my normal bank account because of some kind of limitation, then I will rather choose to save it on crypto or hold it as cash than save it on a betting account. What the hell will I even be thinking for me to do that? I see that as the most dangerous place to even think of moving one's fund into for the purpose of saving;

it's not even as if you won those funds on the betting platform and you decided to save them there; that might be a little more understandable than just moving your money from Pan (the bank) to Fire (the betting platform). There are possibilities of you even losing those funds that you are saving on the betting site even when they are licenced. You can also be tempted so much to use the funds and make some betting in order to double the money. @Op I see that as a ridiculous idea that should not be added to a part-savings plan at all.

Not your keys, not your money. Sending your money to the gambling site means if the gambling site has owned authority over your money. Save your money in your gambling account is the worst thing. In case the casino can go offline and you have no access over your money.
It was a stupid idea. You can withdraw it to your own wallet easily, which was also very safe to store your money and how can you trust 3rd party to own your money. I remind you that if the gambling platform can also change its TOS anytime.
Your money can easily be affected by the chance of TOS by the platform. Even holding your money in centralized exchange or even dex is not a recommended way to treat your money.
Be smart.

Do you mean saving coins inside a casino wallet?
Even for a non gambler ho puts his coins inside a casino wallet, he will be tempted to bet on something since he will be seeing all the time of the games that will play his mind.

An investor of casino token yet non gambler learnes how the casino work and eventually play. Savings will end up spent in gambling.

It is possible but it is not good, why do you want to save your money in betting account for future purpose? How can it comes into your mind to save money in betting account while there are many other better and safer ways. If you want to save your money (crypto), keep it on your own wallet. Never think to save your money in online services as there is a big risk if you want to keep it for long time.

Gambling sites are not like your bank account that you can safely put your money and save it for future purposes. It’s a site for gambling, so definitely if you deposit your money into it, then it’s for you to gamble and entertain yourself. However, if you tend to gamble almost everyday, then maybe you can deposit your money in advance and save it for your weekly budget. But still, I don’t suggest doing it because gambling sites may easily stop its operation without prior notice. Once the site is closed, I don’t think your money will still be accessible for you.

Someone who hold his coins in centralized exchange is already not advisable, how can someone can think it's good to leave your coins in centralized casino? There are so many casinos have rules about inactive accounts, it can be they charge some fee for each month, they close your account including all of your money etc.

Leaving your coins in a centralized casino is really stupid.

Saving money on a gambling site? What if the gambling site later cease to exist or went bankrupt which can be because of mismanagement. That means your money is gone.

If you want to save money, save it in your bank if it is fiat. But if it is cryptocurrencies like bitcoin, you have to save it on your noncustodial wallet. If it is high amount and holding it long term, use an offline/cold wallet. If you can not make cold wallet for yourself like wallet on air gapped device, you can buy a hardware wallet.