Crypto Casinos - page 5. | Bitcointalksearch.org

Pandu Geddon

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

The gambling industry must be very profitable. If not, then online casinos can't grow so rapidly today. Regardless of whether crypto is profitable or not, it depends on its users. However, crypto is used as a tool for betting as an alternative to money. Casinos develop crypto gambling because they see a good crypto market and now its users are very large. So they are looking for profit with a market that is also profitable for them.

mammusu

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Quote from: Davidvictorson on November 01, 2024, 04:07:49 AM

Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

With these numbers, it is obvious that a huge part of gamblers nowadays use crypto. There are many benefits to using crypto particularly if you are gambling.

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

This is very well written and clear. Thank you for making it easier for us. Now to your question, there is always a benefit of new technology. Let us see cryptocurrencies are new technology for a moment. For example, I am from Nigeria and it would take more than 24hours for my account to be funded if I were using fiat or any of those bank transfer or deposit methods. And i could have even gambled on the weekend. But here with crypto currency and its technologies, deposit and even withdrawals as easy. And I have not fear of it getting stuck. One small disadvantage to this is when the transaction fees are high, still we can use alternative crypto to escape it.

Crypto is one of the alternatives in making it easier for us in various ways, not only investment and finance, crypto is also currently a solution for casinos to make it easier for gamblers to make deposits and withdrawals, the use of crypto does offer many advantages, especially in terms of speed and ease of transactions, such as in your country or other developing countries so this is very helpful for those of us who live in countries with a banking system that may be slow or inefficient, besides that the anonymous nature of crypto certainly keeps our identity anonymous and will certainly make us safer, I think compared to the difficulties we get in the use of fiat, of course crypto transaction fees are much cheaper, especially now many casinos offer alternative crypto (coins or tokens) that can be used to avoid high fees.

Jewan420

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The advent of cryptocurrency has made gambling transactions somewhat easier and convenient. A deep connection has developed between a crypto user and a gambler. If you see most gamblers are involved in crypto and for a gambler crypto is a bit easier. Since the creation of the crypto market we have seen an increase in the number of casinos in the market, the reason for which we can say that most of the crypto users enter gambling which is increasing the number of gambling users.

EarnOnVictor

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

-snip-
Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

Yes, they benefit from each other and here are why;

1. Casinos are able to offer their services to wider doorsteps in various countries because crypto made it available. I, for one wouldn't have been able to afford a huge bank wire transfer fee just because I wanted to gamble with my preferred online casinos. My country's bank card is having issues due to the FX shortage.

2. This forces interested people to open a crypto wallet and fund it with their preferred coins/tokens, which invariably causes more adoption and liquidity for the cryptocurrency.

Charles-Tim

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

Without crypto gambling sites, cryptocurrencies will exist because people will buy cryptocurrencies like bitcoin for other purposes like investment and store of value et cetera. Also without cryptocurrencies, gambling sites will exist because cryptocurrencies are not the only form of money that is existing. But cryptocurrencies makes gambling better for gamblers, especially for cross boarder payment. Also gamblers will because of gambling see cryptocurrencies as money. Both can be separate but they benefit from each other definitely. Gambling helped in increase of crypto adoption.

Popkon6

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Cryptocurrencies are definitely compatible with casinos, as there is a large majority of people in this world who are involved in both gambling and cryptocurrencies. Generally it plays the biggest role in gambling and even more in crypto payments. A gambler also enters the casino with cryptocurrency, and repeatedly appears in the casino and starts gambling. A gambler can also contribute between casinos and cryptocurrencies, and it has enjoyed this benefit for a long time.

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

The reason why more fiat-based casinos are adopting cryptocurrencies is because they are benefitting from it. Accepting crypto deposits helps to expand the customer base of these casinos since cryptocurrencies are becoming more popular among young gamblers. The integration of cryptos in online gambling has increased the financial base of the industry, created more employment opportunities and increased profitability. The government is also benefitting because it has increased tax revenue. While gamblers now have payment options and enjoy reduced KYC requirements and cheap transaction fees. The introduction of crypto casinos has been beneficial to all parties involved in the online gambling sector.

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

With these numbers, it is obvious that a huge part of gamblers nowadays use crypto. There are many benefits to using crypto particularly if you are gambling.

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

This is very well written and clear. Thank you for making it easier for us. Now to your question, there is always a benefit of new technology. Let us see cryptocurrencies are new technology for a moment. For example, I am from Nigeria and it would take more than 24hours for my account to be funded if I were using fiat or any of those bank transfer or deposit methods. And i could have even gambled on the weekend. But here with crypto currency and its technologies, deposit and even withdrawals as easy. And I have not fear of it getting stuck. One small disadvantage to this is when the transaction fees are high, still we can use alternative crypto to escape it.

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

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I'd say gambling benefited from crypto. The other way around? I highly doubt it. At least if you look at it, the influence isn't equal. It's heavily skewed to gambling being more influenced compared to the other way around. In the first place for gamblers who simply wanted to gamble with crypto, crypto is simply money like fiat. Maybe with extra steps. But yeah, I reckon a lot of gamblers don't consider going into crypto after using it to gamble. After all they wouldn't really have any understanding of crypto as a market since all they use it for is for spending it to gamble.

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

They have surely made this symbiotic relationship work for them but I would say cryptocurrency has more of influence and made gambling popular especially online gambling. Now why it has made online gambling and casino popular is that its prima facie role is online or digital space while casino was barely existing online just on the surface level without deeply reaching to all aspects of gambling payment platforms. So now, apart from dollar, pounds or other fiat deposit system, you can deposit and gamble with crypto from anywhere if jurisdiction is not limited by the casino.

IMO, cryptocurrency is the new creation that has helped the casino gambling platform to grow online. Cryptocurrency is the digital money that is used to oil the wheels of casinos online and no wonder they are making more profit, evident in the numbers of casinos that have opened up even on this platform within the space of 5 years or so.

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

Gambling has existed ever since in different forms and shapes. But it was during 1600s that casinos were invented and even later that casinos were legalized.

But then cryptocurrencies came along and there has been a notable shift in the casino industry. A lot of crypto transactions are associated with gambling. It is said that the crypto gambling market size is at $250 billion.

Online gambling has also allowed for more adoption of crypto casinos with 55% of online gamers owning cryptocurrency.

With these numbers, it is obvious that a huge part of gamblers nowadays use crypto. There are many benefits to using crypto particularly if you are gambling.

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

Before crypto the Fiat casinos I think we must give them credit for pushing the market of gambling toward online gambling, then from there it is only natural for crypto to take over because of the well known benefits it offers to people, the even more ease of access than online Fiat casinos have. For me both played a role but now we can see it crystal clear and very crisp that the crypto casinos have taken over for good and I can go further, I see Fiat casinos going down dramatically in growth while crypto ones go up dramatically in their growth, that is where everything is headed in my opinion.

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

I don't know for sure about the data that allows us to say who benefits more between the two.
In terms of who plays a bigger role between the two, I think online gambling is more dominant compared to crypto casinos. This may not apply to all countries in the world, but in my area, online is more dominant.
The turnover of money in online gambling has been extraordinary lately in my area because crypto is still not familiar to many.

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

Absolutely so. The casino industry needed a more streamlined way for gamblers to enjoy the games provided which is what crypto offer, a decentralized and easy way to deposit and withdraw without the worries of the banking industry. This caused more inflow of cash into the casino industry.

Some casinos have tried to take that and create their own custom coins to be used on their platform. This is not a good idea as gamblers play across multiple websites and need a harmonized way to deposit and withdraw without having to check out multiple different tokens.

- Jay -

danherbias07

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Yes, I believe they are benefiting on both ends.

Gambling with different options to deposit is something that many gamblers do like especially if they don't want traces of their bad habit so they can keep it from their family. Cheesy

I think there's also a case about being exempted from taxes.
Cryptocurrencies on the other hand do have some usage now and they are becoming a part of the world currency and I think that's a big deal. Being used as real money is something that no one believed before. Honestly, I didn't think that it would come to this where we could gamble with cryptocurrencies and exchange them for cash when we withdraw.

Dave1

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

Gambling has existed ever since in different forms and shapes. But it was during 1600s that casinos were invented and even later that casinos were legalized.

But then cryptocurrencies came along and there has been a notable shift in the casino industry. A lot of crypto transactions are associated with gambling. It is said that the crypto gambling market size is at $250 billion.

Online gambling has also allowed for more adoption of crypto casinos with 55% of online gamers owning cryptocurrency.

With these numbers, it is obvious that a huge part of gamblers nowadays use crypto. There are many benefits to using crypto particularly if you are gambling.

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

You forgot that the first use of crypto is online gambling right? As in the beginning, we just need a bitcoin address for withdrawal, no questions ask, no mandatory KYC. And with that use case, comes crypto base casinos and it has grown so much in the last 10 years or so that it rivaled fiat base as well.

Of course, gambling sector has benefited, and then we have non-crypto gamblers started to gamble with crypto as well so it's a win win situation for us today. And in the next 10 years it could really double or even triple the amount of crypto gamblers and probably they are going to be investors as well.

khiholangkang

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

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Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

Honestly speaking the gambling or casino industry, it has also been very profitable since the past, and nowadays it is only more complex and simple and there are many ways to fulfill gambling with various technological developments, gambling has become much more flexible in using currency with crypto, because if we use fiat in general and want to exchange local currency to a currency supported by the casino, the process is quite complicated and again with a fairly large cost, with crypto it is now cheaper, easier and faster, that is the main advantage of this industry relationship in my opinion.

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

[...] Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

The two are mutually symbiotic, for crypto, the industry is gaining additional adoption as people start buying it to make deposits at various crypto casinos that support crypto. And for crypto casinos, they benefit because they have an additional payment option that they can offer to their users. This integration certainly has a positive impact, because it makes it easier for both parties in the industry. I think we will continue to see growth from this integration.

Darker45

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There's a symbiotic relationship between the two. There are certain features of cryptocurrency that could benefit a significant portion of the gambling community and the gambling industry in general and so they adopted crypto. Crypto, on the other hand, flourished and became popular partly because of the gambling industry. The two are benefitting from each other.

It's like the internet. Gambling has been around. The internet came. Gambling could make use of the rising technology and the internet could also accommodate gambling. And so it happened that there's now online gambling.

Z390

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Quote from: yahoo62278 on October 31, 2024, 11:35:26 PM

Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

Gambling has existed ever since in different forms and shapes. But it was during 1600s that casinos were invented and even later that casinos were legalized.

But then cryptocurrencies came along and there has been a notable shift in the casino industry. A lot of crypto transactions are associated with gambling. It is said that the crypto gambling market size is at $250 billion.

Online gambling has also allowed for more adoption of crypto casinos with 55% of online gamers owning cryptocurrency.

With these numbers, it is obvious that a huge part of gamblers nowadays use crypto. There are many benefits to using crypto particularly if you are gambling.

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

I think crypto played a part in growing the online casino industry but IMO I feel like crypto is controlled by a group of whales who tug the strings like a marionette is pulled in a puppet show. Both have benefitted each other but I think the casino industry got a little more out of it.

That's your own point of view, mine is different.

Covid played a huge part for online gambling, that lock down was the reason why online gambling has become so much popular and successful too, the part where you talked about whales makes no sense to me because with or without whales how will this help or affect gambling in general?

It is not all crypto whales that manipulates the market, many of them are lucky and that's all..

Crypto makes online gambling more easier and safer compare to linking your MasterCard on a new online casino for payment, I don't believe that casinos help crypto in any way though, a gambler is a gambler, to gamble they will buy anything, that doesn't mean they will turn into crypto holders.

acroman08

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Quote from: kotajikikox on October 31, 2024, 09:37:26 PM

Do you think both industries, crypto and gambling sector, benefit from one another seeing how intertwined they seem to be? Do you think both played a part in the growth of both online gaming and cryptocurrencies?

yeah, there is no denying that, cryptocurrency and the online gambling sector benefited from each other which led to their growth. I am not saying it is the only reason for their growth btw, but that would be a ridiculous thing to say. anyway, this is my full assumption. I think one of the reasons why the two worked well together is because crypto provided convenience as a payment method(as well as being able to play anonymously, or maybe at least used to) for the gamblers and crypto casinos what gamblers are looking for, which is to gamble.

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