Crypto Bet: A wider Array of Altcoins are being usef - page 3.

AmoreJaz

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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.

and with the long list of alts available in those online casinos, gamblers have the option to use alts with cheaper fees. and this is also why these casinos can accept small time gamblers. and they can play at the comfort of your home without worrying about anyone looking over your shoulder. i believe during the pandemic period, a lot discovered the world of crypto gambling as they got stuck in their homes and looking for ways how to remove that boredom particularly those gamblers at offline casinos.

magneto

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Not surprising.

I think the primary driver of these statistics is the fact that mainstream influencers are now adopting crypto based casinos and telling others to use it.

There are some concerns with this, though, especially with the surge of "fake money" players who seem to be whales but are in reality just sponsored by the casinos themselves. But overall this is a great trend.

Sterbens

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Quote from: rhomelmabini on May 11, 2022, 04:46:41 AM

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/

People tend to embrace new things and using crypto to gamble online is a trend right now and people are noticing how convenient it was too. If I were to pick which one is best, I think online betting or gambling is best when playing online especially if you're just into luck based gambling. The pandemic help this industry to even expand.

Let's review gambling since the pandemic. Both fiat and crypto casinos have become the choice of gamblers in betting their money. Although actually gambling is a risky thing to lose in an instant. Regardless of the fact that crypto is the solution to reach gambling wherever it is. Fiat has certain limitations that are only used by people who are not very fond of crypto. While crypto gamblers can use both as an option.
It is this advantage that makes crypto casinos more dominant when it comes to betting. Plus crypto casinos are popping up that offer massive welcome bonuses, promo, and others that I don't think fiat casinos offer too much.

Jody.Drummer

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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.

wxa7115

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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.

Even if the data was legitimate I think that what it means is that within the gambling solutions offered by that company they are seeing a share of 35% bitcoin and 65% fiat.

However there are many other providers and casinos which have implemented their own solutions which probably do not offer cryptocurrencies at all, which means that the amount of money being gambled with bitcoin is way lower than the percentage that we are being given in this tread.

gantez

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Cryptocurrency has opened the gambling platforms more to the people. It appearing like every gambling site will set up the cryptocurrency option for players convenient, if you don't do that you are not consider as the top crypto platforms. But bitcoin still remains the first choice of coins use in the game.

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Quote from: Cling18 on May 11, 2022, 10:36:45 AM

Pandemic is one of the factors why most gamblers have switched to using fiat to crypto because of the convenience that it provides especially during the times that physical casinos have closed. Gamblers are now comfortable using crypto when it comes to gambling because it could also provide profit as they invest in it. People always seek convenience and comfortability and that's what cryptocurrency could provide in gambling.

In addition to that, crypto has opened a way and provided the chance and availability of gambling when it comes to countries that have been prohibiting gambling activities among its citizens a and borders. Crypto has also change the game when it comes to the different offerings of games and gimmicks done in gambling.

Cling18

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

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.

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.

Pandemic is one of the factors why most gamblers have switched to using fiat to crypto because of the convenience that it provides especially during the times that physical casinos have closed. Gamblers are now comfortable using crypto when it comes to gambling because it could also provide profit as they invest in it. People always seek convenience and comfortability and that's what cryptocurrency could provide in gambling.

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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/

There are lots of features that crypto gambling offers, that is why the players moves in. They can see how easy it is to manage, being anonymous, less transaction fees and so many perks. Since crypto currencies is gaining worldwide acceptance, they are felt secured that it is safe to play in some trustworthy crypto gamble sites. While traditional mode of payments are still an option for withdrawals, it is slowly changing, and crypto currencies are replacing them. These are just some examples why players or gamblers are slowly switching, thus crypto currencies dominating the world of gambling.

AicecreaME

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Quote from: swogerino on May 10, 2022, 04:17:23 AM

Crypto betting offers the most comfortable way of betting for a lot of people.Some persons are gamblers but they also have a family and do not want their wife to find out in their credit card statement that they are gambling.The credit card statement can be seen by family members while by playing with crypto is very difficult to see,in this way this is the most comfortable form of gambling and therefore it is only natural that this will only increase with the passing of time as more and more people join in.

Agree with this. Crypto betting has been widely used by gamblers due to the reasons you've mentioned such as to avoid card history of gambling betting and of course, to hide the transactions about it from their relatives most especially to their family, wife, or girlfriend/boyfriend. Although I'm not quite certain regarding the usage of altcoins in gambling website and casinos. Because as far as i know, the most popular and widely used in casinos is bitcoin.

I seldom hear that a website is accepting altcoins in betting. But I know there are a few already accepting it. Not just being wide used though. Perhaps OP you could put where you got the information so that we could also verify.

dimonstration

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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.

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.

rhomelmabini

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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/

People tend to embrace new things and using crypto to gamble online is a trend right now and people are noticing how convenient it was too. If I were to pick which one is best, I think online betting or gambling is best when playing online especially if you're just into luck based gambling. The pandemic help this industry to even expand.

michellee

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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.

Pmalek

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Quote from: Fivestar4everMVP on May 10, 2022, 02:07:54 PM

Probably those still gambling with fiat currencies are those who are not into crypto yet, cus I honestly do not understand why people will still gamble with fiat when they can actually do it easily with crypto.

You make it sound like it's difficult to gamble with fiat. It isn't. Fiat casinos and sportsbooks have been around much longer than crypto casinos and they work just the way they are supposed to. I have started gambling on sports before I got interested in Bitcoin and I still do it. I actually prefer losing fiat than BTC, so I play more on traditional platforms. I wager Bitcoins on the things I consider safe bets.

Quote from: Fivestar4everMVP on May 10, 2022, 02:07:54 PM

Crypto has made online transactions very easy, most especially in gambling...

Any computer literate person shouldn't have difficulties making a transaction either to a fiat or a crypto casino. Neither of the two are easier or more difficult than the other.

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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/

Am not sure what is your motive in this topic mate , but if you are considering about Altcoins using for gambling ? I am considering as Gambling being held using multiple funds , even crypto users are using Fiat at some point because i am also in that matter .

anyway lets see what will be the main answers of the majority in this community .

Wexnident

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It isn't that odd to be fair, there are crypto casinos out there that solely accept crypto after all and people are rather accepting of them. It's probably the most successful industry really in terms of considering how Crypto is used as a medium of payment, compared to others that are close to non-existent. There's also the matter that compared to other industries, casinos are the only ones (afaik) that has pretty much created a separate industry for crypto, e.g. crypto casinos and fiat casinos. It wouldn't be odd then to see crypto usage in casinos to grow because of that.

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Quote from: Haunebu on May 10, 2022, 01:55:56 PM

This is common knowledge op. So many gamblers around the world including me utilise popular cryptocurrencies like BTC, LTC, Doge etc in order to avoid KYC and enjoy gambling anonymously online.

Cryptocurrencies are especially useful in countries that ban gambling completely(Offline and Online). However, I am not expecting crypto share to overtake FIAT share anytime soon.

All possibilities is there yet we've seen on how fast crypto gambling industry make it big in a short span of time or several years which do really generates out tons of revenue and its true that its been already in default that lots of coin options for us to make use since there are gamblers/players who do really likes to play with altcoins instead of BTC alone.The more options to have the
better and much preferred by most people on this market.

boyptc

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It's actually going there.

We all knew how big and becoming bigger crypto gambling is. This is providing the ease to most users and even there are countries that have banned physical gambling, their citizens have the choice to gamble online with crypto and anonymously.

But thing is starting to change due to many casinos asking for KYCs. And if that user is from a country that has banned gambling and it's also prohibited by the casino, they'll be stopped to use the platform.

They have no choice but to accept it and likely to look for another place to gamble which supports the crypto that they use to gamble.

Fivestar4everMVP

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Probably those still gambling with fiat currencies are those who are not into crypto yet, cus I honestly do not understand why people will still gamble with fiat when they can actually do it easily with crypto.
Crypto has made online transactions very easy, most especially in gambling, I personally have never gambled with fiat again ever since I got into crypto.
I understand that fiat still have the bigger market share in gambling only because crypto is still a growing form of payment, I believe with time, as more people come into this space, crypto is gonna become the dominant currency for the gambling world.

Haunebu

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This is common knowledge op. So many gamblers around the world including me utilise popular cryptocurrencies like BTC, LTC, Doge etc in order to avoid KYC and enjoy gambling anonymously online.

Cryptocurrencies are especially useful in countries that ban gambling completely(Offline and Online). However, I am not expecting crypto share to overtake FIAT share anytime soon.

Topic: Crypto Bet: A wider Array of Altcoins are being usef - page 3. (Read 653 times)