Topic: Crypto Casinos - page 3. (Read 778 times)

Yes ofcourse, crypto community has seen a good amount of gamblers turning to crypto for their gambling needs.
The reason might be anything but online gambling has favored crypto and brought in good amount of volume.
On the other hand crypto gambling comes with its own associated risks and so while there are good amount of pros, there are some cons too which cannot be neglected.

Yeah what I believe about crypto and alongside casinos is that they both work hand in hand so both can as well benefit from each other in the long run, and I think it's more of benefits to the casino because alot of people find it at ease to gamble using crypto currency which is going vast, so since the crypto community is growing the casinos are also growing thereby paving ways for a user friendly process for users while gambling. So just as the casino are promoting the use of crypto currency, the use it's adoption is becoming more unlimited.

Anonymity is a double-edged sword so it's hard to say whether it's good or bad. If everyone uses cryptocurrencies to protect their privacy and make legal transactions, that's fine. But if many people are using cryptocurrencies to commit illegal acts such as money laundering, smuggling and terrorist financing, this is a problem that needs to be stopped immediately. So when it comes to anonymity, it can really cause some heated debate. Cryptocurrency casinos will help us protect our privacy, but what if criminals use it to commit illegal acts?

I'm curious, what has been used now? As a gambler, I also refer to my activity as crypto gambling since today’s casinos are often called crypto casinos. Back in the day, they were known as Bitcoin casinos because Bitcoin was the only accepted currency, especially during the era of dice games like Primedice and Safedice, along with other popular dice platforms. Now, with more payment options added (various cryptos), these dice games have expanded to include a range of casino games and even sportsbooks.

They're actually having different sectors of growth, cryptocurrency gambling is separated from online casino that offers fiat money deposit. Most of the popular games nowadays which is accessible through android applications that's available and user friendly to everybody was through cash deposits. I don't really seem to observe crypto betting that's usually been gambling directly with crypto coins. Hopefully in near future, it's going to be more transparent to public as well learning process will follow.

I think in the beginning of the crypto industry when Bitcoin only existed, together with Litecoin and other smaller projects, it was a very heavy stigma on the use of cryptocurrency due to people and the media commenting that only criminals used it for their own markets and to acquire illegal goods and services. Gambling helped in those times when it was harder to find reliable exchanges and wallets, it created a demand for Bitcoin when it was not in the spotlight and many people thought it could not be successful as a medium of exchange, so Bitcoin benefitted more from gambling than gambling benefited from Bitcoin.
But that was only in the beginning, as Cryptocurrencies started to lose their stigma and regulators were willing to grand licenses to casinos for them to use Bitcoin, the sector started to grow dramatically as well on the internet.

It is an interesting history which continues to be written even to this day.

Crypto is not widely used for many things, but it's mostly used by most people. Even though the percentage of users in the total world population is below 10%, it's still a large range compared to how long it has been in existence. 
 
Casino is also part of the industry, which I have seen help the spread of crypto currency as many have to make use of it as a means of deposit and withdrawal.

If the person knows how to track transactions, he can. But if not, you will only see the tx number and other numbers but not exactly the name of the person. But I can agree that anonymity is not really exercise anymore in crypto. Just think of the KYC protocol that every site - trading platform or gambling site is requiring from their users. This is because we are going mainstream and that means, the government now needs to regulate this business. Just like any other business, this business needs to submit proper docs to continue its operation.

Of course, they do. Seeing how fiats of different countries continues to depreciate on a daily basis, you don't expect some of these top gamblers to leave their money in that way. They definitely need something that will appreciate well, and give them a better worth when gambling.


IMO, I think they do to some extent. As casino's starts accepting crypto, we definitely expect more/regular transactions in this area. Those who gamble and are not crypto holders might even be pressured to hold one, which means there will be more purchase, and when there are more demands, then we all know how effective it can be to the market to some extent as well.

But even today, with KYC and others, it is still a growing business. As what others shows, it's a billion dollar industry so nothing has changed. Except that it really moves so fast and crypto in the middle of it. And then casino evolved as well, it's not just Bitcoin that is readily accepted, but other altcoins as well.


They find a way for crypto to be used on others, and just like money, they accepted it as form. Maybe you can call them genius, but that's how business work. Now online and brick and mortar casino have captured us, so to speak and both operators, are making a lot of money.

I agree; I wouldn't consider the early adopters as whales, but the large corporations that are buying huge amounts of Bitcoin at every price dip, constantly. We're talking about millions of dollars worth of Bitcoin, and it's not only MicroStrategy; there are others as well.

To return to the original subject, I believe that both industries have benefited from each other, as cryptocurrencies have played a major role in the gambling industry. Another user previously mentioned that the related transactions are up to $300b; that's an insane amount of money, but I'm guessing that fiat currencies are still the go-to option for most gamblers who haven't chosen the path of cryptocurrencies. However, that's still a huge volume of transactions conducted via cryptocurrencies, assisting further in their advancement.

Certainly but unfortunately cryptos are not widely used for many things unfortunately, and in many countries gambling activity is severly monitored and regulated, so people have no access to all the games, bonuses and promotions offered by offshore casinos at their local ones. In addition banks don't like gamblers very much and may ask questions when they see one customer making transfers or card purchases to casinos or sportsbooks and receiving money from them. So it's more convenient to use cryptos for gambling in the end. Besides that, I think people feel more comfortable to bet cryptos like it is candies than betting fiat money for some psychological reasons I guess.
2 years ago 7% of all Bitcoin transactions were related to Stake according to them. So as Stunna said gambling is maybe the killer app of cryptos actually.

https://www.theaustralian.com.au/weekend-australian-magazine/these-men-are-conquering-crypto-but-are-the-stakes-too-high/news-story/11cb0db4257ec9e703e225f1d91a5b8c
https://archive.is/0kRLn

Attention: This is a misconception that cryptos (regular and usually accepted by casinos) are anonymous. On the contrary: crypto transactions are completely traceable, and more and more exchanges and banks are making use of this. Transfers from/to (unregulated) gambling platforms in particular can lead to deposits on exchanges, for example, being blocked. 

One of the reasons I have found that has gotten so many gambling with crypto has been mainly because of anonymity and crypto has one very awesome way of helping with anonymity much more than with the regular gambling patterns around casinos before the era of crypto coming into gambling, I believe this synergy is definitely been of benefit to both the crypto and the gambling industry as some casinos now have their own coins with which people gamble with on their platform, for which they can make money off aside the normal losses of Gamblers, as for the crypto space more persons now have to join in so they will be able to access some crypto gambling sites which doesn't use the traditional fiat.

The cryptocurrency and gambling industries have been greatly related, with each benefiting from the other. Cryptocurrencies have contributed to the growth of online gaming by providing fast, secure, and confidential payment methods, while the cryptocurrency industry has benefited from the gambling industry by attracting new investors and expanding its scope of use. Therefore, it can be said that both industries have played a role in the growth of the other.

Going deeper into the topic, the relationship between the cryptocurrency and gambling industries is expected to witness major developments in the future, as government regulations will have to pay more attention to this industry in order to protect consumers and combat financial crimes. The industry will also witness deeper integration with emerging technologies such as artificial intelligence and virtual reality, which will lead to more realistic and exciting gaming experiences. Also, decentralized gaming is expected to witness significant growth, giving players more control over their digital assets. However, the industry will also face new challenges such as cryptocurrency price fluctuations and cybercrime.

Overall, this relationship will continue to evolve and expand, shaping a new future for online gaming.

Cryptocurrency can adapt to any online industry, so when cryptocurrency came into existence, it was only a matter of time before the casinos integrated it because it works perfectly fine on their system, gamblers can see the transaction right away and the casino can credit it in a matter of seconds or minutes, it will take hours or days on traditional payment processor, and we all know popular payment processor before the existence of Cryptocurrency, PayPal, never accept casinos as their partners.
Both contributed to their success.

Yes, both industry do actually benefit from each other, because according to casinoblockchain, which happens to be an online platform which gives statistics and analysis of casinos that uses cryptos for gambling, we were made to understand that in 2024, the current worth of the crypto gambling industry is said to have been over $305.8 billion, of which as transaction are made, both miners will be rewarded for transaction fees, and likewise the casino also makes profit when gamblers bet on games and loses it. Hence, it is a win-win for both industry. However, this is a screenshot of the information from Casinoblockchain shown below.

Then, imagine if miners were said to have received just 0.001% as transaction fee for that total amount, that will be roughly $3,058,000

Crypto is an access to multinational online gambling, in the past even without us doing KYC can do it easily without being recognized by anyone even the owner of the casino itself, you only need to send the bitcoin that you have to your casino account then you can play comfortably there, and You can attract your victory without having to question.

Of course the close relationship in the development of the gambling industry from Crypto is a very genius step that can be utilized by the business of gambling with technological developments, and now and so on will continue to be in touch and will be even greater, conventional gamblers may turn to online gambling more massive in the coming years.

Makes no sense? Have you noticed that everytime btc dips Microstrategy is right there buying it up? When I say whales I don't mean the guys that mined btc in the early days and who are now rich, I'm talking big corporations, rich people that are controlling the market and manipulating it up or down to suit their position.

We are all free to have opinions.

Its-a win win situation on both industry, the Cryptocurrency technology seamlessly adopt to what the casino industry is looking for a payment processor.
Its fast, transparent, and there's no centralized third party to confirm if the transaction pushes or not. Its like a marriage made in heaven for the two industries; both grow further, both promote each other and the compatibility is almost error free.
If a newbie started to play in a casino, he will eventually learn about cryptocurrency, and the same thing happens to new crypto investors. I think its a permanent partnership for both industries, and nobody will complain about the partnership.