Casinos that accept ERC20s | Bitcointalksearch.org

dre1982

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Quote from: DarkDays on August 26, 2020, 05:55:10 PM

The only ERC20 token worth adding to a casino is USDT or any other ERC20 stablecoin with good volume. Something like BUSD. I remember reading that Bitpay partnered with Binance to allow merchants all around the world to start accepting crypto payments in BUSD. Once that model becomes popular you can see more casinos adopting similar stances.

I don't think there are any that accept random altcoins, because there simply isn't a big enough market to justify the integration costs.

Crypto.games allows users to convert between assets on the platform so that might be a good workaround for now.

I think that no other token then USDT will be good for a casino. All other tokens are just rubbish. With that much tokens it will be hard for a new serious idea to be accepted. Most tokens will just lose value after they hit the exchange because the owners dump the coins most of the times.

Timelord2067

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I can see a real problem with that Casino (or any for that matter) insisting players only take their minor wins as the in house crypto and the larger (if at all) wins are subject to "processing fees" or worse still "transaction fees" that are both disproportionate and aren't actually passed onto the miners who process the transaction.

Lightning Network reduces to near zero the transaction fees.

Kupid002

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Quote from: RussianEnglishTranslation on August 28, 2020, 07:42:51 AM

Quote from: Akiko on August 28, 2020, 05:15:30 AM

Quote from: RussianEnglishTranslation on August 26, 2020, 01:05:21 AM

Several of you are presuming that the token has no liquidity, no use case, no demand, and the developer holds all of the supply. None of those apply to the token I am referring to. So far the only decent casino I have seen that is willing to integrate ERC20s is OreCoinGames. Are there any others?

because in reality there is no way that someone will create a platform for nonsense tokens they are making a gambling website to potentially earn money having that . How developer can earn money from a useless project or tokens? They will prefer to have popular crypto in her list not tokens.

I think it was explained already but since you don't understand... The casino has it's native currency. They charge a listing fee to tokens to list on the casino. The casino then converts token deposits into it's native currency. The casino risks nothing because games are played with it's native currency. The casino gets the benefit of listing fees and added users from each project listed and the marketing provided by those projects. As you can see, the model is better than a regular crypto casino because it brings in more players "something regular casinos struggle with, marketing is provided for by the projects listed, and the casino gets listing fee profits. There are already casinos doing this, I'm looking for more of them.

So do you mean project owner will accept the tokens as fee for them to be listed . You will have more players but how the gambling sites will earn from a worthless tokens and get as also profit to those who lost in playing?

You need to remember not all tokens have a real value if they will only earn money from listings you think that's enough ? Exchange and gambling site is two different thing and that's only work in exchange.

MI6

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No one accepts worthless coins like ERC20 I didn't generally tell that they are all worthless majority of them, yes. If you wanted to play casino with worthless coin there's a lot of casinos that offers free coins to play with it's so much the same as betting with invaluable coins.

RussianEnglishTranslation

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Quote from: Akiko on August 28, 2020, 05:15:30 AM

Quote from: RussianEnglishTranslation on August 26, 2020, 01:05:21 AM

Several of you are presuming that the token has no liquidity, no use case, no demand, and the developer holds all of the supply. None of those apply to the token I am referring to. So far the only decent casino I have seen that is willing to integrate ERC20s is OreCoinGames. Are there any others?

because in reality there is no way that someone will create a platform for nonsense tokens they are making a gambling website to potentially earn money having that . How developer can earn money from a useless project or tokens? They will prefer to have popular crypto in her list not tokens.

I think it was explained already but since you don't understand... The casino has it's native currency. They charge a listing fee to tokens to list on the casino. The casino then converts token deposits into it's native currency. The casino risks nothing because games are played with it's native currency. The casino gets the benefit of listing fees and added users from each project listed and the marketing provided by those projects. As you can see, the model is better than a regular crypto casino because it brings in more players "something regular casinos struggle with, marketing is provided for by the projects listed, and the casino gets listing fee profits. There are already casinos doing this, I'm looking for more of them.

Akiko

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Quote from: RussianEnglishTranslation on August 26, 2020, 01:05:21 AM

Several of you are presuming that the token has no liquidity, no use case, no demand, and the developer holds all of the supply. None of those apply to the token I am referring to. So far the only decent casino I have seen that is willing to integrate ERC20s is OreCoinGames. Are there any others?

because in reality there is no way that someone will create a platform for nonsense tokens they are making a gambling website to potentially earn money having that . How developer can earn money from a useless project or tokens? They will prefer to have popular crypto in her list not tokens.

Timelord2067

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Quote from: RussianEnglishTranslation on August 27, 2020, 06:26:11 AM

Wow, you need to DYOR. Start at Coingecko.

Like that other behemoth of coin-aggregations, (Coin Market Cap), coingecko has become riddled with incomplete information, does not consider smaller than the market leaders' worth tabulating and is useful for quick glance summaries of a coins trends. They don't respond to attempts by coins to reach out for corrections to be made, or, when they do state they aren't considering an Exchange's information to be useful. Unfortunately, it's the best we've got at the moment.

RussianEnglishTranslation

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Quote from: Timelord2067 on August 27, 2020, 04:48:26 AM

Quote from: RussianEnglishTranslation on August 26, 2020, 01:05:21 AM

Several of you are presuming that the token has no liquidity, no use case, no demand, and the developer holds all of the supply. None of those apply to the token I am referring to. So far the only decent casino I have seen that is willing to integrate ERC20s is OreCoinGames. Are there any others?

Maybe the reason you can only name exactly one ERC20 token is for the very reasons you've given in your post as to why they aren't seen as even being worthy of being gambled away.

Casino's know a sucker when they see one, that's why people go to them, not the other way around.

Wow, you need to DYOR. Start at Coingecko.

Timelord2067

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Quote from: RussianEnglishTranslation on August 26, 2020, 01:05:21 AM

Several of you are presuming that the token has no liquidity, no use case, no demand, and the developer holds all of the supply. None of those apply to the token I am referring to. So far the only decent casino I have seen that is willing to integrate ERC20s is OreCoinGames. Are there any others?

Maybe the reason you can only name exactly one ERC20 token is for the very reasons you've given in your post as to why they aren't seen as even being worthy of being gambled away.

Casino's know a sucker when they see one, that's why people go to them, not the other way around.

DarkDays

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The only ERC20 token worth adding to a casino is USDT or any other ERC20 stablecoin with good volume. Something like BUSD. I remember reading that Bitpay partnered with Binance to allow merchants all around the world to start accepting crypto payments in BUSD. Once that model becomes popular you can see more casinos adopting similar stances.

I don't think there are any that accept random altcoins, because there simply isn't a big enough market to justify the integration costs.

Crypto.games allows users to convert between assets on the platform so that might be a good workaround for now.

RussianEnglishTranslation

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Several of you are presuming that the token has no liquidity, no use case, no demand, and the developer holds all of the supply. None of those apply to the token I am referring to. So far the only decent casino I have seen that is willing to integrate ERC20s is OreCoinGames. Are there any others?

dre1982

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Quote from: AthenaBanana on August 25, 2020, 03:44:19 PM

No casino will be interested in listing ERC20 tokens that has no demand and no liquidity in the market casino only intend to include tokens that are really popular in the market

The problem with a lot of those ERC20 tokens is that everyone can easily start up a new coin and you don't know anymore which project is promising. There are literally thousands of tokens.

Bitinity

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Quote from: AthenaBanana on August 25, 2020, 03:44:19 PM

No casino will be interested in listing ERC20 tokens that has no demand and no liquidity in the market casino only intend to include tokens that are really popular in the market

Because gambling itself is a risky business for the owner, so owner from any gambling website should choose the best coins to be added as payment method. In this case, there are too many ERC20 tokens out there but only few are popular with good demand. Very low possibility to see trusted casinos accepts unpopular ERC20 tokens. High possibility, the dev of the token itslef will create a casino for their own token.

AthenaBanana

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No casino will be interested in listing ERC20 tokens that has no demand and no liquidity in the market casino only intend to include tokens that are really popular in the market

btcltcdigger

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Quote from: RussianEnglishTranslation on August 24, 2020, 01:16:03 AM

I mine an ERC20 token that is accepted on OreCoinGames casino. Are there any other reputable casinos (besides EarnBET) that list ERC20 tokens? Most of the casinos I see listed here only accept Bitcoin and Ethereum. There are 5,000 or so ERC20 token projects that would like to be integrated with online casinos, surely there has to be options.

It's simple economics, if a token can be transfered to fiat, via any of the payment gateway providers, lets say Coinbase, there's a good chance casino will accept it.
But in the end, you need to realize, the amount of ERC20 goodness will still be converted into fiat and you'll play with fiat represented by this token

GeorgeJohn

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Quote from: delfastTions on August 24, 2020, 09:04:57 AM

You yourself understand the motivation of casino owners? If they work with BTC and ETH, time-tested and uniquely traded cryptocurrencies, for which they need to exchange the unknown EK20 token for these assets themselves. This is a waste of employees' time and energy. And these are stupid expended. So you won't find a good casino ERC-20.

Not only that alone, before you enroll into such game you have to understand the basic knowledge of bitcoin and etherum if they are to play such type of game,
It's discouraging by going into a business or into platform's without proper researching I find it difficult to adventure into.
You made a good suggestion,what I just said now is complement to your idea.

Kupid002

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Quote from: RussianEnglishTranslation on August 25, 2020, 03:10:29 AM

So you think LINK is a scam too then? ERC20s have no value?

ERC20 have value just most of them failed to maintain its value in the price buying it by investors. That's why more of them is just a failure actually an experiment for developer if they can manage to earn money from what they want to build .

dre1982

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Quote from: RussianEnglishTranslation on August 24, 2020, 11:54:53 AM

Quote from: Jawhead999 on August 24, 2020, 03:02:43 AM

Agree with above user, most of ERC-20 token is worthless... many reputable casinos only listed top 10 coin/token listed on coingecko or coinmarketcap. It's very risky for casino to accept ERC-20 token because doesn't have much adoption and pump-dump scheme. If the token can't be exchangeable, the casino will in loss.

AFAIK 🎲 ERC20Casino.com 🎲 The first casino specialized in ERC20 tokens 🎲 this is a casino who accept many ERC-20 tokens rather than other casino. But this is a new casino, so it seems not really trustworthy. DWYOR.

ERC20 casino is offline

ERC20Casino was a scam. The idea was great but they scammed just a few people for some pennies.

RussianEnglishTranslation

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Quote from: Insanerman on August 25, 2020, 02:44:53 AM

Quote from: RussianEnglishTranslation on August 24, 2020, 01:16:03 AM

I mine an ERC20 token that is accepted on OreCoinGames casino. Are there any other reputable casinos (besides EarnBET) that list ERC20 tokens? Most of the casinos I see listed here only accept Bitcoin and Ethereum. There are 5,000 or so ERC20 token projects that would like to be integrated with online casinos, surely there has to be options.

Most ERC20 tokens aren't successful as many have used it as their front to scam. How? They use the system to make "tokens" for a project (some have good ideas, some were ridiculous), and just keeps fooling the people that it would be a promising one. Hence, I don't see any legitimate ERC20 token as even those makers of gambling platforms wouldn't take the risk supporting tokens that could be scam and was worthless in the first place.

So you think LINK is a scam too then? ERC20s have no value?

Insanerman

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Quote from: RussianEnglishTranslation on August 24, 2020, 01:16:03 AM

I mine an ERC20 token that is accepted on OreCoinGames casino. Are there any other reputable casinos (besides EarnBET) that list ERC20 tokens? Most of the casinos I see listed here only accept Bitcoin and Ethereum. There are 5,000 or so ERC20 token projects that would like to be integrated with online casinos, surely there has to be options.

Most ERC20 tokens aren't successful as many have used it as their front to scam. How? They use the system to make "tokens" for a project (some have good ideas, some were ridiculous), and just keeps fooling the people that it would be a promising one. Hence, I don't see any legitimate ERC20 token as even those makers of gambling platforms wouldn't take the risk supporting tokens that could be scam and was worthless in the first place.

Topic: Casinos that accept ERC20s (Read 386 times)