Topic: Can money be saved in gambling sites? - page 3. (Read 2193 times)

hiding or saving money in any gambling site is okay depends on the amount but not recommended, like what you've said, It's very risky and there are some possibilities that your money will lose in case the gambling site has a problem and tends to close.It's okay if you keep the allocated fund for your gambling on a gambling site but not that much amount, Just save the majority of you money in reliable crypto wallet.

I've done with it before knowing Bitcoin, but until I know how to hide it using a bitcoin wallet, I won't do it again. Because when I think about it now, hide our money on gambling site online is very risky from hacker or the owner site online. but it also depends on how much money you hide it, If only $100 or $200 that is not a problem. Maybe if we are bored, and I want to clear our mind, hide on gambling site is good, While saving dan hding it maybe we can also make it multiple from $200 to $400. There is nothing possible as far as you trust it.

It have got risk of losing as well as end up gambling. For these reasons it is not good to hold it in gambling platforms. I have been using gambling platforms for many years and I haven't come across reputed gambling platforms getting into hacks. Trusted platforms have ended their services and during that time they notified us and gave time to withdraw the funds. There are good platforms, still to be on the safer side we need to avoid holding funds in gambling platforms.

Saving money in gambling sites I think is a very risky decision that may backfire on whoever that took the decision in the future. The online gambling sites are very hackable which means some external  hackers might hack the entire site and clear all the money in every account with the gambling site. So saving money on gambling sites shouldn't be an option for anyone if you as me

It's similar to saving money on cryptocurrency exchanges. The disadvantages are quite high. And it's never encouraged. Casino made balance for online players to stake games not to save money. Having a dormant account on a gambling site, because we are saving funds there, can be bad. The site can decide to make changes or even shut down. What then would be the profit of such person. He'll find himself on the losing side, having nobody to run back to for complaints. What happened to saving the money in their wallet. However, the long term existence of these online casinos may have ignited this decision of his, which isn't new. Some people could be doing it, at same time gambling gradually with the money to keep their account active. While maintaining their self control not to wager all the money. Although, people are different, not all could withstand holding money on a casino without spending it on gambling. But, personally speaking, I wouldn't encourage anyone to do that. Op should get a bank account or cryptocurrency wallet to save their funds. Money can be tempting, especially to a gambler. On a higher probability the risk could come from the player than the casino. As I know some casino that will still operate for long time. Though can't predict for sure, but they've been existing, hence the possibility is there.

I don't think I will be comfortable saving my money on a gambling platform, in case something happens to you your loved ones will have a hard time withdrawing the funds and some casinos have provisions on their terms that they will own the funds if it stores in their platform for a specific length of time, so better check the casino you're planning to store your funds if they have provisions like that.
And there's no guarantee that the casino will not be out of business, you will find yourself waking up and the casino is out and your money has gone too, it's not a good idea to keep your money in a gambling platform, there's a saying, not your key, not your funds and it applies here.

It's a wrong idea to want to leave your funds on a gambling side and see it as a means of saving,  the wallet you have on the site isn't equivalent to a banking wallet and can be hijacked or hacked at any time and it has got no insurance so in such cases you are loosing all your funds.

It's advisable to always withdraw your funds to your banking account from the gambling sites so as to be on the safe side, and if you want to gamble , fund the needed amount and use it as you desire after which if you win, make sure to withdraw from the site to your bank account that way you can use the money for some other things asides gambling. Sometimes keeping these huge amounts in our gambling account can lead you to be tempted to increase your stake and when you loose you lose big.

If you're hiding money from the government and mostly from your wife, this is what the other gamblers do. They are hiding their wealth somewhere else so that they won't have any trace of where it is. It will be just a few clicks away when they will be allowed to withdraw it as they're easy to liquidate. So choosing the point from being like this type of person into someone who advocates to be one of the crypto community. You're not going to do this. Or, if you're going to do this then that's with the amount that very little to you. And that is because you're not going to mind all the amount that's in risk whether the casino closes or if they will freeze your funds for some reasons although that's so rare to happen. Only with those KYCed accounts will see the point of it because if you're not yet done with the compliance then, you have to do that first before thinking of doing it.

It seems as tho you are also talking about the self control involved. A gambler who has money in their gambling account is more prone to gambling with it (unless the person in question has grown to control their gambling urge). Be it as it may, I do not think that storing your money on a gambling site is smart at all. I’m just saying, but think about; what if you woke up one day and they banned your account for whatsoever reason? For the times I’ve gambled in the past, I always withdraw my earnings asap.

The OP maybe should use the term store, because if you are aiming to play in the near future,
it will save you fees if you just leave some of your funds in your account.
However, it is not yet advisable to leave funds in a third party platform for some unexpected reasons such as hacking among others.
Also, if you happen to leave your funds, make sure that you are on a very reputable site.

Is there any specific reason for why you want to save money on gambling websites? Personally i won't do that and i won't recommend such thing to any gambler. It is another matter if you want to save money in gambling website for bad time during a game need more money to inject on it but you mentioned a word "save" which means you don't have to use that money but want to put it of saving purpose only! there's no extra advantage of such action but high risky thought at all where you are leaving your money by giving its control to gambling websites owners, lol

Well, each person has their own way of thinking and seeing things, because in the best of chaos, people have everything to do with their money whatever they want, because it is their money that is always emphasized here and is about protecting others. I am a player, and anyone who is not a player, as has been said many times, even if it is a little money of 255-100usd because for me it is a lot of money, and it can make a difference if there is a type of emergency, I don't know but I think that things can be closed that way.

When a person has their money in a Hardare or Ledger wallet, it is the safest way there is, although at one time I saw a news story that a Ledger had been hacked, which is quite profound and seemed even shady to me, so in this order of ideas, the things when it comes to wallets, even Electrum itself can make a difference, it is under our custody, because they are the private keys and that is something that is only managed by the owner of the crypto, of BTC, not of a casino or an exchange, where at any time that money cannot be compromised if some type of hack occurs on the site, how can they save the funds from the Spersoan? totally committed, if it is a site like the level of stake.com it is a different thing, but if it is a normal casino that does not have much capital and has little security, it is obvious that everything will end there, and if all the As for people, that's as far as it goes, I think those are the things that should normally be avoided, it's better to be safe than sorry, and I don't see anything wrong with making some deposits of the money that you are willing to spend or lose, it would be A better way to have control is what I think, everyone has their own way of doing things, but personally I see it like this, this is what many don't see, but do little, I don't leave anything out. money in the cainos, and whenever I'm going to play I deposit, it's usually little, the minimum because I don't have that much money either, I fear to lose.

The problem is that if the temptation gets stronger, it can make us try the money in our gambling account to gamble so that we won't realize that we have used the money. If it is for saving, we have to separate the coins we will use for gambling from the coins we will save. This is to avoid excessive use of coins in gambling because we often forget the goal we created.

It is clear that it is better to save coins for investment elsewhere than save them in a gambling account. We must be able to have other storage places to make it safer.

That's what I've always done all this time. Setting aside a small amount of money in preparation for gambling another day is what we need to do so as not to deposit more money. Apart from that, having a little money in a gambling account can allow us to gamble whenever we want and don't have to wait for the transaction process to complete. Meanwhile, sending another amount of money to another wallet will provide us with security from hacking or other bad things so that we can be calmer and not worry about anything.

We can only advise those who want to separate money for gambling and saving. Then they will decide because it is their money.

To continue the topic I will focus mostly on the fact that gambling platform is centralized. I assume you have been here for a long time and you are familiar with the centralized platform's risks. How can you be so sure that nothing will happen to your account? The whole platform is under the control of a different person and not you. They have the right to change anything to their liking and you have agreed to that on their TOS. I have read posts about people getting banned and losing access to their accounts for winning too much. And not to mention that they won in a legal way. Just because it was harmful to their casino business, they banned them.

Do you think that anything like this won't happen to you? Maybe not this particular event but something else. That's the problem with centralized platforms. They can control you. If you are looking for a better way to carry money, why not BTC? Carry it in a hardware wallet. It is not legal in every country, but gambling platforms are not different. In my country, both gambling platforms and Bitcoin are banned. But we still use it. So why not choose the decentralized option?

Why? I can assume that my casino wallet will be available in most countries (even if I have to turn on VPN sometimes) but my money in other non-cash form can be easily banned (and in some places they have already been banned) - I’m from Russia, so in practice I’m familiar with what I'm talking about. All cases are different and, accordingly, the solutions are also different. As for investments, they are pointless until you have a serious amount of money.

I absolutely agree with you. It makes no sense to risk money when storing on a gambling site, when withdrawal and input of cryptocurrency is fast enough and is not so expensive compared to losing all the funds in case of hacking the gambling site.

Although on the other hand, if you keep a small amount of money on the gambling site, for example 25-100$, there is no point in withdrawing funds. At least I had situations when I had to leave the funds on the gambling site and they were intact on my return.

Of course I think it would be a wrong decision if trying to keep money for savings purposes on any gambling platform. Moreover, it is very difficult to keep that money safe because the gambler himself may spend that money unknowingly. I have heard from many people where they said that if there is money deposited in the casino then many people try to make more money and they lose all. The most important thing is that money should not be kept somewhere where it can be lost due to a small mistake. Of course, it makes more sense to keep the amount you need on the gambling platform and transfer the rest to your personal wallet.

It would be better not to set aside any amount on a gambling site, even if it is only a small amount to gamble the next day. It would be better to deposit enough to gamble and if there is some left over, it would be better to withdraw it to a personal wallet which will be safer. online sites are always vulnerable to hacking of any kind so even if the amount is small if it is lost it would be a shame.
but everyone has different opinions and if you have a method like you say, its better to be careful, sometimes you will definitely forget to withdraw all the funds you have.

I don't support that idea of saving money in the gambling account and it is not because you will use it to gamble but we all know the issues on casinos with their KYC dramas. If you save big amount of money inside and by the time you want to withdraw it, and they ask you the KYC and you could not provide them all and that will be the end ot your money in the account. So I prefer using fiat banks for the saving and if you don't like the fiat banks then you can use bitcoin wallet which is more save. I don't recommend gambling account because problem in that side is too much. But you are planning to use it to gamble then no problem but for saving and to use it in the future. That is not the best idea. Please use Fiat.

I don't think he mentioned anything about investing in a casino, he is just talking about keeping the money in a casino which is a totally different thing. Casinos these days don't even provide investment opportunities, it was old times when casinos used to accept investments for their bankrolls.

That requires knowledge and experience about trading and the cryptocurrency market, Binance is an exchange and not an investment platform, one can do trading there if they have knowledge about trading and the market.

That's true, no platform is a good place for keeping your money, there are wallets for that purpose and people should use them instead of keeping their assets under so much risk.