Crypto Bet: A wider Array of Altcoins are being usef - page 2.

CaVO32

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Quote from: shasan on May 20, 2022, 01:56:59 PM

First of all the spelling of the title of the topic should be changed to used from usef. The use of altcoin is increasing day by day as the fee of altcoin is too low and comparing with pair it is flexible to users along with transaction fees. Altcoin is very first and user feel secure for their privacy reason.

The OP should re-visit his thread and yes, need to rectify the typo error on his title. Wink

Alts are becoming popular not only because of the low fees but because of its availability in the casino, they can also play small. Small timers have no problem using small amount of funds if they just want to have fun. Because if you will go to traditional casino, can you go there just having 10 bucks in your pocket? I think you will be hesitant to go inside, right?

coin-investor

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Quote from: Pmalek on May 10, 2022, 11:50:17 AM

I am actually surprised that the market share of cryptocurrency casino is over 35%. I thought those numbers were far lower. I think in the future some of the best fiat casinos and sportsbooks will adopt crypto in order to not lose their customers to other platforms. I am talking about giants giants like bwin, bet365, William Hill, etc. It's obvious that people are getting more and more hooked gambling with crypto and the reasons don't matter.

It will double in the next few years, I thought it's higher than that figure because almost every week we have a new casino launching here, these stable or old fiat casinos will soon accept Cryptocurrency because it's now what people prefer to play, they have privacy and anonymity compared to fiat where they are exposed, it's hard to be a supporter or investor of Cryptocurrency and yet supporting fiat-based casino, it's just a matter of time.

shasan

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First of all the spelling of the title of the topic should be changed to used from usef. The use of altcoin is increasing day by day as the fee of altcoin is too low and comparing with pair it is flexible to users along with transaction fees. Altcoin is very first and user feel secure for their privacy reason.

LUCKMCFLY

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Quote from: Frankolala on May 10, 2022, 02:57:16 AM

It has been reported that the online gambling industry has shown more people are starting to use crypto to gamble online forgoing Fiat. And that there is a greater interest in betting with Altcoins.
Over the past two years,gamblers using crypto online instead of Fiat has significantly increased.The study comes from softswiss,which provides software for managing iGaming operations.The organization holds several gaming license and was the first company in the world to offer a Bitcoin optimized casino solution.
Softswiss said the share of crypto in Q1 2022, increased by almost 10%: from 26.3% to 35.9%. In comparison to the first quarter in 2020,the share of crypto currencies has grown by 29%. If such dynamic continue,the share of Fiat and crypto currencies may become equal over the course of the next year,as Fiat currently is the most popular choice for online betting,64% of people use Fiat.
https://beincrypto.com/crypto-bets-a-wider-array-of-altcoins-are-being-used/

I think that the main reason for using more cryptocurrencies than fiat money is that you have more control over it, also that cryptocurrencies have an enormous facility to be handled with greater fluidity and sometimes the value in fiat is not seen, which means that at At the time of playing, the player only sees what he will win in terms of crypto but not fiat, the value of fiat is sometimes like a double-edged sword that blocks the player or opens up his decision not to control whatever you spend, it is necessary to emphasize that the volatility of cryptocurrencies makes it say that at a time that it is lost, it can be recovered if the cryptocurrencies that it still has rise in price because the price of btc rises.

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Quote from: AmoreJaz on May 14, 2022, 05:59:54 PM

Quote from: shasan on May 14, 2022, 05:27:54 PM

Quote from: michellee on May 11, 2022, 04:40:38 AM

I think gamblers switch from using fiat to crypto because it is easy to use crypto and can be used for gambling too. In addition, people who start using crypto also see crypto as a way of investing because of the many options they can use as their investment. As an option to gamble, they are facilitated with lots of coins to gamble on and with the low cost of sending and withdrawing transactions that are cheaper than fiat.

Still now crypto is not traceable that's why people feel free to use crypto instead of fiat a lot of people as they cant gambling with fiat for legal law of those country. And also, at the same time they can buy crypto with their black money too but it is too difficult to buy fiat and also it takes more time than crypto to be deposited.

let's put it this way, there are many advantages that a gambler can get from using these crypto casinos. now, it depends on him how he will take advantage of it. if the casino is allowing the use of VPN, that's very attractive to those players who are residing from areas where gambling is not very welcome. and they can find the chance to play because of these casinos. and with the long list of alts that some casinos are accepting, that's another one that they can enjoy also. they can play anonymously, using small amt of funds, what more can they ask for?

You know that people wont never be that contented even if things or all has been provided already which you would really be seeing these complaints to be that very common as long they could criticize

or something whether its a true or valid one or simply just trolling on something which could really be understandable.We do almost have everything when it comes or via means
of accessibility + anonymity which most gamblers could really hope or ask for.

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Quote from: shasan on May 14, 2022, 05:27:54 PM

Quote from: michellee on May 11, 2022, 04:40:38 AM

I think gamblers switch from using fiat to crypto because it is easy to use crypto and can be used for gambling too. In addition, people who start using crypto also see crypto as a way of investing because of the many options they can use as their investment. As an option to gamble, they are facilitated with lots of coins to gamble on and with the low cost of sending and withdrawing transactions that are cheaper than fiat.

Still now crypto is not traceable that's why people feel free to use crypto instead of fiat a lot of people as they cant gambling with fiat for legal law of those country. And also, at the same time they can buy crypto with their black money too but it is too difficult to buy fiat and also it takes more time than crypto to be deposited.

let's put it this way, there are many advantages that a gambler can get from using these crypto casinos. now, it depends on him how he will take advantage of it. if the casino is allowing the use of VPN, that's very attractive to those players who are residing from areas where gambling is not very welcome. and they can find the chance to play because of these casinos. and with the long list of alts that some casinos are accepting, that's another one that they can enjoy also. they can play anonymously, using small amt of funds, what more can they ask for?

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As the gambling industry keeps growing the rate of cryptocurrency online gambling has increased significantly lately since 2018-to 2022 the number of cryptocurrency gambling has multiplied in a significant proportion and Bitcoin has the highest figure when it comes to cryptocurrency usage on online casinos. There is no doubt that many crypto gambling sites are developing their native altcoin tokens that are used on their platform which allow for a wide range of advantages over Bitcoin usage on such gambling sites and with the Bitcoin scalability set back some gambling sites choose to use such altcoin for faster and cheaper transactions.

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Quote from: michellee on May 11, 2022, 04:40:38 AM

I think gamblers switch from using fiat to crypto because it is easy to use crypto and can be used for gambling too. In addition, people who start using crypto also see crypto as a way of investing because of the many options they can use as their investment. As an option to gamble, they are facilitated with lots of coins to gamble on and with the low cost of sending and withdrawing transactions that are cheaper than fiat.

Still now crypto is not traceable that's why people feel free to use crypto instead of fiat a lot of people as they cant gambling with fiat for legal law of those country. And also, at the same time they can buy crypto with their black money too but it is too difficult to buy fiat and also it takes more time than crypto to be deposited.

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Quote from: michellee on May 11, 2022, 10:30:36 PM

Quote from: dimonstration on May 11, 2022, 06:32:52 AM

The pandemic is another factor that highlights the advantage of crypto via fiat since it has lot of limitation and restrictions when it comes to online gambling. I don't know if we can already say that crypto casino is already gaining more players than fiat without any legit statistics to support but one thing is for sure that crypto casino increase there volume and valuation when pandemic hits so maybe online fiat casino is now starting to slowly adopt crypto.

That's right because with this pandemic, people are encouraged to work from home and are not allowed to go anywhere, thus making them use the internet more often than before. From there, it is used by providers who use cryptocurrencies to advertise everywhere and eventually people see crypto and get curious. People who are used to gambling using fiat feel curious about gambling using crypto then they try it and eventually become interested in using it and move to crypto.

Nice input, Actually I was encouraged to gamble more online due to boredom in the house during pandemic. My only source of entertainment was gambling during that time even though I’m not a regular gambler before and also plus the fact that I’m more engaged on gambling in the forum. The transition of fiat based casino to crypto casino is very noticeable as we can see already in the gambling section forumthe increasing number of new casino entering each day and some of them are indeed fiat based that recently add crypto to there wallets as currency. I think this figure will explode more once the pandemic have another round of outbreak which is haplening now on some countries.

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Quote from: adzino on May 12, 2022, 08:57:08 PM

1. They are choosing crypto currencies over fiat to gamble because it is just very easy to add your funds and withdraw it. Almost instant with no delays. No risk of your funds getting stuck or rejected by the bank or high transaction fees.

2. They prefer altcoins because altcoins are comparatively faster when it comes to deposit. Almost instant confirmation and a very low fee allows them to start gambling as soon as they send the funds.

I think it is natural that we are seeing people slowly migrating to cryptocurrencies and decide to use them instead of fiat as simply the advantages that they can get by doing so are too important to ignore, the speed factor is really important, many people want to gamble immediately and do not want to wait for a fiat transaction to go through, something that only takes a few minutes with the right altcoins.

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Quote from: adzino on May 12, 2022, 08:57:08 PM

1. They are choosing crypto currencies over fiat to gamble because it is just very easy to add your funds and withdraw it. Almost instant with no delays. No risk of your funds getting stuck or rejected by the bank or high transaction fees.

2. They prefer altcoins because altcoins are comparatively faster when it comes to deposit. Almost instant confirmation and a very low fee allows them to start gambling as soon as they send the funds.

One would forget they are actually spending money while using altcoins. In the stories of the early adopters of crypto, they were just betting Dogecoin like its nothing. They bet 10K-20K Doge in one roll of dice. Some of us today are also doing the same with SHIB in dice. They don't mind the quantity because he altcoin is cheap.

Couldn't consider this an advantage in using altcoin especially if the altcoin has potential.

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1. They are choosing crypto currencies over fiat to gamble because it is just very easy to add your funds and withdraw it. Almost instant with no delays. No risk of your funds getting stuck or rejected by the bank or high transaction fees.

2. They prefer altcoins because altcoins are comparatively faster when it comes to deposit. Almost instant confirmation and a very low fee allows them to start gambling as soon as they send the funds.

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Quote from: stepwilli on May 12, 2022, 02:46:17 PM

That's not surprising because cryptos right now are popular compared to where they are few years ago. The more the people learn crypto, the more use cases that they unlock and that includes crypto gambling. Not only crypto gambling but many fiat gambling sites have also emerged. This is due to the pandemic where the offline casino business is slowing down, resulted for those owners and gamblers to migrate online.

Other than cryptos, fiat-based online payments are also becoming a thing now and many companies are still creating their own brands. They are the rival of cryptos other than the stable coins and cryptos that are owned by banks and governments.

Fiat based online payments are already a thing years a go. Even the implementation of it towards the gambling industry were not new. They've just managed to apply the fast transaction idea and the blockchain technology of the crypto but only just using their local fiat. Lastly, if you are more onto gambling especially in your local gambling industry, fiat gambling platforms are common. it's just not popular to some due to it being illegal or there are regulations applied.

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That's not surprising because cryptos right now are popular compared to where they are few years ago. The more the people learn crypto, the more use cases that they unlock and that includes crypto gambling. Not only crypto gambling but many fiat gambling sites have also emerged. This is due to the pandemic where the offline casino business is slowing down, resulted for those owners and gamblers to migrate online.

Other than cryptos, fiat-based online payments are also becoming a thing now and many companies are still creating their own brands. They are the rival of cryptos other than the stable coins and cryptos that are owned by banks and governments.

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Quote from: dimonstration on May 11, 2022, 06:32:52 AM

The pandemic is another factor that highlights the advantage of crypto via fiat since it has lot of limitation and restrictions when it comes to online gambling. I don't know if we can already say that crypto casino is already gaining more players than fiat without any legit statistics to support but one thing is for sure that crypto casino increase there volume and valuation when pandemic hits so maybe online fiat casino is now starting to slowly adopt crypto.

That's right because with this pandemic, people are encouraged to work from home and are not allowed to go anywhere, thus making them use the internet more often than before. From there, it is used by providers who use cryptocurrencies to advertise everywhere and eventually people see crypto and get curious. People who are used to gambling using fiat feel curious about gambling using crypto then they try it and eventually become interested in using it and move to crypto.

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Quote from: Frankolala on May 10, 2022, 02:57:16 AM

It has been reported that the online gambling industry has shown more people are starting to use crypto to gamble online forgoing Fiat. And that there is a greater interest in betting with Altcoins.

I guess the reason for choosing cryptos over fiat is due to to the anonymous nature of Cryptos.
Many crypto sportsbook don't ask for KYC if you bet in limit.
In the other hand 98% of the Fiat sportsbook force you to do KYC before placing any bet.
This may be the major reason for people showing interest into crypto and alts and betting into it.
Moreover there are also some people who choose Bitcoins and alts to bet only because of it’s asset value.
Suppose if they bet 0.005 BTC and due to good fortune they won and make around 0.01 BTC and in the next week Bitcoin’s price rises, so definitely in this scenario they will make more profits .
So I guess this is the mindset of people who chooses crypto gambling instead of FIAT gambling.

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Although some of you have questioned it, what the OP says does not surprise me. Cryptocurrency gambling has grown just as the shitcoins market has grown. Recently we are seeing a recovery of Bitcoin dominance as happens in crises, but last year, although with peaks, the trend was to lose dominance versus shitcoins. Bitcoin is one but shitcoins do not stop being launched, so many people buy them to see if they hit the jackpot. As for gambling specifically, you can't bet with most of the ones that are launched but one of the reasons to bet with them are fast confirmation times and fees, as mentioned, apart from seeing a possibility of higher potential return.

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If I'm not mistaken, one of the earliest use-case of Bitcoin was as a gambling bet. Satoshidice was already in operation in 2012. So it is not surprising that over the years, the growth of crypto gambling is already recognizable.

And it has proven to be very profitable as well. Proof of this is the huge sponsorships of crypto gambling platforms in international sports teams and leagues.

Perhaps one of the main reasons why a lot of gamblers are choosing crypto over fiat is the certain amount of anonymity in it. You are not obliged to submit personal and financial information if you want to play in a crypto gambling site.

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Lots of coins but only a handful are being accepted by most casinos. Gamblers are limited by their platforms most of the time, though from the profitability perspective, I do understand where they're coming from. But it will also be good if platforms start recognizing other coins and accept them already if the demand and interest is there. But then again, it's not that entirely easy to do so for the platform. Good thing though that most of the coins most platforms choose are those with low fees and fast confirmation times: things that really matter for the gambler that they surely appreciate.

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Quote from: Jody.Drummer on May 11, 2022, 03:55:37 PM

It's no wonder why crypto gambling has become a favorite in recent years. Apart from maintaining their anonymity, they will definitely make crypto the most effective gambling option. As for fiat, you will have interest expense when you withdraw it to your account. Fiat gambling is mostly available at local casinos in every country. Meanwhile, if we use crypto as an alternative to gambling, of course we can be wider in accessing cross-country gambling. That is why crypto is experiencing good growth as a gambler's choice.

^ Probably that is right, many gamblers now prefer to use crypto over fiat because they know that they can play without exposing privacy which is a good option to start. The good thing is, that not only does the BTC network has good potential in all coins that can be used in gambling but there is also some blockchain network that can be used in gambling. I did not surprise that the time will come there are more and more casinos that accept crypto, from fiat to crypto because they know that there are many gamblers who prefer to use crypto over fiat.

Topic: Crypto Bet: A wider Array of Altcoins are being usef - page 2. (Read 653 times)