Topic: Crypto Casinos (Read 778 times)

Yes, crypto industry has been heavily adopted thanks to its incorporation to gambling industry. One of the main usages of crypto nowadays is for gambling activity, and it has been like this since the early years of this industry through dice websites. Right now the businesses just escalated to much higher proportions, with some crypto casinos even becoming top ones in a global basis. On the other hand, I think crypto industry shouldn't rely its popularity solely on gambling activity. Cryptocurrencies should be involved with another sectors of society as well in order to gain more traction and sustainability on long term.

It's just too risky to expect fruits along the years from crypto universe based only on gambling and speculation, which are the current strong points of this market.

Anything that involves blockchain technology and any type of tokens, cryptocurrencies if the casino does it well, will be of great use to the one who only Develops and to customers in general , the casino should not forget that its customers always want to win , the casino in one way or another knows how to do it ,but if they do not do it well it is obvious that they will have a site that can fall in reputation and by the repudiation of many people , as has happened in other casinos , which are in the forum , and that people who believe for the second time , continue to fall the same.

It is absolutely true that gambling gambling has been existed on before it gained popularity on casinos while the Crypto casinos was as end technology making gambling a more credible and viral in advancement.

Actually the uniqueness of the Crypto casinos on gambling is the format that players who chooses to play anonymously can as much play at their comfort zones, making deposits and withdrawing of their funds with the decentralized Crypto casinos.

This main reason why bettors are more interested in casinos that are not required with the KYCs

Gambling industry did really have that being affected with the creation of cryptocurrency or simply be able to benefit out because we do know that crypto market had become that bigger over the span of decade+
and since this do pertains about p2p payments or something that do talk about making engagement with gambling without dealing up with credit card and other traditional centralized payments then it did really expand out
that payment option on which this did really make up that more attention and consideration. Come to think that other industries do really make out that kind of benefits too because of crypto existence on which it cant be really denied that when it comes to benefits and that accessibility then it do really make out that kind of recognition. Come to think that people do prefer on having that anonymous or not being known into the things that they are dealing online. This is where crypto would really be that relevant into this approach.

We have seen that crypto casinos are increasing in numbers on which this do really shows that there's so much recognition and demand on which into those gamblers who do prefer that anonymity, but somehow
with the current situation where these platforms had been slowly changing into centralized ones and ending up having some issues about verification or KYC on which we do know that people
doesnt really like this thing.

Have you forgotten that most of the local gambling site out there doesn't support cryptocurrency deposit due to some regulation issues from most countries. The major interest should be that before a gambling site launches they would indicate their area of interest, if is cryptocurrency casino or not, because most of the casino's launching here are cryptocurrency casino. If you moved out of this forum you would also see in real life there are casino's that doesn't accept cryptocurrencies due to their regulations; I can also sight an example to some of local casino we have in our country doesn't yet incorporated with cryptocurrency due to government and their regulations.

For me yes, but there will be negative and positive effects of it in cryptocurrency.

For negative effects, what I can see that could destroy the image of cryptocurrency is scams or fraud gambling platforms where they tend to use cryptocurrencies for their transactions, it will give a negative image of cryptocurrency.
Positive effect is cryptocurrency being used on what is for online transactions, where most of us now are already in the era of cashless transactions with just the help of internet.

Crypto casino realize that they can make a big profit from gambling because the chance for online business grow and develop will be wide open. When online casino specifically crypto casino can gives a different experience to gamblers, that can invite more gamblers to comes and spend their money. The transition of the fiat gamblers began from the Covid-19 where they can not play at the physical casino and confuse where they can playing gambling. Maybe some of them already played on the online casino based on fiat but we know how and what crypto casino promotion on the internet. So that giving attention to the fiat gamblers to curious with crypto casino and they gives it a try. The crypto casino can grow more than now in the future especially when there is a big demand from gambler that comes from all countries. A crypto casino realizes about this fact so they are trying to do their best for their members.

The wild adoption of a particular product or service works based on customer demand. The moment people started using crypto for transactions, any wise business would know it's time to incorporate crypto as a payment method. So, casinos adopting cryptocurrency was a great move to grow their revenue. Now, you don't have to worry about cash; you can use any comfortable payment method.

Cryptocurrency has helped the gambling industry, and vice versa. Casinos get more customers due to flexible payment options, while cryptocurrency gains more users. As people adopt and use crypto more, knowledge about it spreads. Both industries benefit mutually from each other's capacity.

Yeah, in summary.
There are a lot of new casinos keeps on establishing themselves because they see the demand and they have to keep with the competition from the larger casinos because they're seeing the need of it. And the transition of the fiat gamblers going into crypto is very visible and they just can't ignore that fact so, they are doing everything they can to sustain the needs of the gamblers through making new ones. But to be honest, even if they make new ones if the existing ones are known and can keep up with the demand of the gamblers, there's no need for them to come.

Yes, both fiat and crypto will works properly in their field and the gamblers will know which currency they can use to playing gambling. They will choose what currency that can makes them feels comfortable when playing gambling. But even of many people still use fiat to playing gambling, that will not stops crypto from the other gamblers because fiat and crypto will have its fan. So that will not gives a problem for gamblers or casinos because people already know which currency that will suit with their wanting. That is why many casinos based on fiat and crypto still launch because they see that people who playing gambling can increase with so many easiness that people can gets.

The trend for crypto way back a decade ago or so, isn't that much and that's why they have contributed a lot to the demand of crypto. They're not just simply adopting the trends. Look at the physical casinos, even til' now many of them don't adopt crypto and that's why those that have adopted too early really just bet on it.

I think early policies do play a part in here. KYCs weren't a thing in the past and it doesn't need to be done when cryptos weren't massively adopted yet. So, those that want to hide their identity have now a go-to place to spend the cryptos that they have. Giving props to them isn't that hard to do so and that's why I recognize them.

Casinos are just adopting to the trends, making sure that what customers want is what they are offering them. The demand and competition are very high.
 
As for the more casinos, the more customers that they are getting and the more demand for crypto.
 
In some cases, the majority of the people who prefer to gamble with crypto against the fiat are those who already hold some crypto in their wallet and are not just buying it because of gambling, especially for casinos that accept both fiat and crypto.

So, fiat and crypto complements each other because of the adoption that has happened from these casinos. Whether they're known as a fully pledged crypto casino or a fiat casino that doesn't really accept any fiat in there. With that, it's true that the people are into them because of the options that we have, it's easier to check on any of them because of that reason. In the end, the real winner is us. We get to gamble wherever we are and how much is our balance as long as we're having fun and we take benefits from it and it is supporting the liking of us like gambling with the cryptos we like.

In the history of crypto, what's one of the first industries that have accepted and hugged it with an open heart?

The gambling industry.

From that, you can already see the significance and importance of the early crypto casinos that have welcomed it.

I wouldn't blame them because even the top site with a tough security can also get hacked. It is not that they didn't tried their best but it is just that there are only hackers who are more intelligent and wiser than them. Of course, unless only if it was an inside job because it can be their fault of trusting their developers/team too much.

Cryptos and hacking aren't new and I believe casinos have learned a lot from their mistakes. Apart from improving their security, another tactic that I know that they do, is to use a cold wallet/storage. That way not all of their funds are going to get hacked since it was stored away from the internet. So as long as the casino is known to be legit, rest only assured that our funds are safe if we choose to not withdraw them for a while.

If we choose to withdraw, then fine. It still have another benefit other than being completely safe from hacks and scams, and that is we won't get tempted to play again and lose it all. That's true that withdrawal limits are now a thing. I think there is a good reason for that and I believe many casinos will just processed our withdrawals quickly, so it wouldn't take us a long time to withdraw all the amounts, unless of course if we did something shady.

Yes this is kind of mutualistic relationship between each industry, gambling will get more people involved especially the interest of crypto users and the cryptocurrency industry itself will benefit from the increasing adoption and of course this can increase the stability and price of several types of crypto currencies themselves.
On the other hand, crypto and gambling are relationship that is mutually bound to support their respective developments, this is one form of the development of the increasingly advanced digital era and is able to create its own world.

In my opinion, both sectors are benefiting. Crypto casinos are sponsoring major leagues, which increases the casino's exposure. Since they are crypto casinos, people who want to use these casinos will need to buy cryptocurrencies. This way, the cryptocurrency market grows and the crypto casino market also grows. For example, crypto casinos sponsor UFC, so a UFC athlete who sees a crypto casino during the fight event and is interested, he will create an account at the casino and then buy cryptocurrency. In this way, both markets are growing.

Crypto casino now become more popular and reach more gamblers because that is the impact from Covid-19 ago where people can not go to their favorite physical casino. They confuse where they can playing gambling and while they are searching for the online casino, they find the crypto casino and see the crypto that is something new for them. While they search for more about crypto, they see crypto can be alternative to playing gambling and that makes them trying to playing gambling on the crypto casino. Both crypto and fiat casino have more fan from the situation and now, both crypto and fiat casino become more popular.

Hmmm like it or not Crypto itself popular because some shady things and with some illegal stuff but when it comes to gambling and crypto I think both has the benefit one and the other because right now like you have said crypto casino have gain some traction and the business value increased year by year

I believe in the next year this things not gonna stop.

There are pros and cons for crypto casinos but they're one of the first to adopt the cryptocurrencies as currencies supported in them. Right now, we see tons of online casinos that came from fiat accepting-only into adopting cryptocurrencies as well. This is the reason why these two helps each other and making such a good business that's thriving and we're all beneficiaries of it. The more casinos, the more people that adopts it, the better and higher demand that we're all liking to see because that increases the usage of it and the value into those supported cryptos.

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.
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Yes you're right about saying that crypto has played a significant role in the development of the casino and also they make sure transactions are carried out effectively without stress  but then if the crypto community are playing such roles for the casino I think it's an understanding between them and alot times I think they both benefit from each other in making sure users find it easier and stress free making use of them.

The casino and crypto industry will benefit each other with the practicality of using crypto, compared to fiat, but everything has its positive and negative sides, but in my opinion, casinos using crypto are still relatively new and I am sure that in the future it will continue to develop

Handling fiat becomes a lot easier either, and now almost everyone use cards and bank transfer rather than actual cash for anything but the problem comes when it comes to cross border transfers that needs different licensing if I am not wrong along with the gambling license and needs each one for every country's fiat which is lot of legal and expenses whereas bitcoin and cryptos are just universal and don't need any licensing apart from gambling that made their work easier and to user things better.

Currently most gambling platforms now mostly casino platform do make use of cryptocurrency for their deposits, from my perspective the reason should be that cryptocurrency funding to gambling accounts should be the most fastest way someone can deposit to gambling platform accounts without experiencing complications, so I know very well that gambling platform mostly casino that does have cryptocurrency as one of the options of deposits, it will lack traffic, because many people who bet with casino rights now is addicted in funding accounts with cryptocurrency instead of fiat currency, I think it will be hard before you can see someone to fund gambling accounts especially casino accounts with fiat currency.

It is not entirely correct to compare the gambling industry and cryptocurrency. Cryptocurrency acts here only as one of the convenient payment methods. As for the gambling industry, it has always flourished, long before cryptocurrencies. If cryptocurrencies suddenly disappear, nothing bad will happen to gambling. Therefore, the gambling and betting sector has done more to spread cryptocurrencies than cryptocurrency has for these industries.

both are mutually beneficial between casinos and crypto, casinos will get ease of transactions and crypto will get the benefits of fame and more holders, and in the future I am sure people will prefer casinos to use crypto payments rather than fiat

Usage of cryptocurrencies also helps the gambling sites to make money too especially in times of volatility on coins like bitcoin, there are times gamblers can make deposits, place a bet and then loose it after which volatility could set in the price of the coin  goes up, they make more profits off the initial amount that was gained and same applies to the gambler when they win their games, this cannot be achieved with fiat because its not that volatile.

Quite unfortunate for your friend, but lots of legitimate crypto casinos are reviewed all over the net and the forum, but some devious ones still appear like chameleons to decieve players. However, cryptocurrency casinos are now leading the online casinos with the millions of gamblers who appreciate the notion of earning Bitcoin via gambling and the benefit of fast processing of withdrawal through the Blockchain, instead of banks.

Yeah, that's true and I think many will agree with that including those who can now gamble thanks to cryptocurrencies. I just checked the recent bets in Stake.com and I saw how humungous the number of gamblers who are using cryptocurrencies rather than fiat, from Bitcoin to stablecoins and other coins that can be used to gamble small amounts like XRP, Litecoin, Doge, and more.
This is a sign that it's a different era now. We don't need to go to the bank and deposit money just so we can gamble. There are also cash applications that are now available in small stores like 7/11 for deposits and I think that's a big change from the traditional way that we do things. It's easier, faster, and fees are not that high so we can go in an out anytime we want.

It's like a symbiotic relationship, both helped to grow each other and now it's a huge sector apart from the casino tourism places. People had difficulty accessing online Fiat casinos because it's hard to deposit fiat from one country to another and it's also challenging to implement from the casino side but crypto came and that's become huge boost to its growth and with that Bitcoin placed it's existence to the real world people apart from community in the early days.

That’s really the casino’s fault if anything. Nothing much that we can do but withdraw our winnings and not get it into too huge territory. But at the same time, some casinos have minimum requirements of how much you can withdraw so it makes it difficult to just withdraw it right away and some may even question you if you keep on withdrawing. Online casinos should do better and build their walls around them stronger and more secure.

At the same time  crypto casinos have to increase the safety of their hot wallets as gamblers may lost their crypto even when playing on legitimate sites. The latest effected is Metawin crypto casino the hot wallet of which  was breached and drained by $4M.  Due to this kind of  reasons I prefer to not keep my money for a long time at online casinos and withdraw my wins (if any) ASAP.

You are right. Both cryptocurrencies and online gambling platforms that use crypto are beneficial to each other. Casinos adopting certain cryptocurrencies creates more visibility and popularity for those cryptocurrencies and these leads to their wider adoption through their usage in some of these crypto casinos. Casinos too have to take advantage of the anonymity feature of some of these cryptocurrencies to gain more customers,  especially in jurisdictions where gambling is restricted. Adopting cryptocurrencies will also help them get gamblers all over the world without having any currency barrier.

Both cryptocurrencies and gambling compliment each other. Online gambling has passed through different phases, infusing cryptocurrencies into gambling is a plus to the casinos and the gamblers.

The use of cryptocurrency allows casinos to operate and place bets with fiat as well as individual currencies for gamblers that integrate their compatibility with the desired gamble. It is really safe that gamblers are able to individually place their bets and earn through online casino gambling. Gamblers should be careful as there are some fake casino sites online and a friend of mine lost some of his crypto from one such site which is unwanted.

Gambling sites need to keep up with the times in order to evolve and also provide convenience to their customers, so far many countries have started to take actions to shut down gambling sites, which are actually something that is considered an enemy, so often gamblers are a little bit afraid to deposit and withdraw using fiat money through bank accounts due to restrictions imposed by banks and governments,  So indeed the use of bitcoin and other cryptocurrencies in online gambling is an innovative development in my opinion, for now we can say that the two are indeed mutually beneficial and help drive significant growth, both for bitcoin and the development of the site, bitcoin has offered many advantage such as anonymity, fast transactions and low fee, which makes it very suitable for use in gambling sites in the modern era Ini.

You are right that the tightening of regulations regarding the casino industry is not an obstacle for people to continue gambling using crypto and is actually growing, of course this is none other than because many people are interested in crypto and more and more people are plunging into using crypto so that the circulation of money is also getting bigger and some of them like to gamble which will drain their money into casinos, gambling is indeed a very interesting industry to make money especially if it provides convenience and comfort for its customers.

The connectivity of these two industries is a very profitable thing for online casinos, brands can expand even wider, and each crypto has a very large community that allows some new gamblers to come from certain project communities to use their holdings to bet in casinos that support their coins.

Cryptocurrency both bitcoin has also help in growing and speeding up the use of those gambling site and, the gambling sites as well has helped to reshape the used of cryptocurrency especially since bitcoin is the major player lot of people don't mind using bitcoin to gamble at their own safe moment compared to when using respective fiat or local currencies. In summary they are both beneficial to each other as the help to growth exponentially.

I have to agree that they both help each other because the growth of online gambling started to become more rapid when crypto was becoming more popular. Cryptocurrency makes online gambling stress free from depositing and making withdrawal. After initiating a transaction, you get your money instantly with just few delays when there's problem with congestion. Most people gambling with cryptocurrency is because they don't know what to do with the cryptocurrency that they have and they're looking for a way to spend it. After making profits from investing, not everybody wants to keep investing continuously as some people will want to spend some of their gains and gambling is one of the best ways to spend cryptocurrency. Both industry can survive without needing eachother but they function better together as gambling has introduced some people to cryptocurrency.

Actually this doesnt really just that only affect Gambling industry but also in other industries as well if we do speak or talk about cryptocurrency integration on which it will really be bringing out that significant effect. The good thing that crypto comes into gambling industry is that people do able to play without having being known due to that anonymous gambling but we've seen that there's some notable change
when it comes to this aspect as we do go ahead in years on which they are slowly changing up to be centralized because these businesses are really that become regulated on which its not shocking that they would be that starting on being KYC-less and turned out to be opposite when these platforms or business had become that regulated specially if its licensed.

Even a few years ago when crypto was less popular, the amount of crypto used for gambling was less. Over time crypto is very popular today due to which people are gambling today even using it. Because of this the online gambling sector is becoming popular and the expansion of crypto usage is increasing and really attracting a lot of people. Moreover, both crypto and gambling are mutually beneficial because people are buying crypto and betting on gambling. There are alternative currencies such as firat for betting on gambling. Anyway gambling is being played with the currency of one's own country in online gambling.

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.

In my opinion, crypto actually made a lot of things easier, and one of them happens to be gambling. Others are quite numerous including seamless payments, fast and flexible payment and mos especially a very easy and alternative method of investing like in the case of bitcoin. The idea is crypto actually made gambling much easier and less restrictive. Yes the internet made it more flexible in the sense that you can actually gamble anywhere in the world.

In addition crypto actually put a break to that kind of currency barrier meaning regardless of the fiat currency native to your country or location, you can still purchase crypto and gamble with any crypto casino of your choice instead of only fiat casino native to your country.

I feel that for now actually even though it seems that the two are not really tied together but it is undeniable that if the two are put together then it will provide benefits to both parties.

Crypto is basically not tied to gambling and gambling is also not the same where there are no ties whatsoever with Crypyo, it's just that we are also aware that for now they seem to have momentum to benefit each other.
Casinos know that currently there are also many crypto enthusiasts who gamble and this is certainly used as an option so that when making deposits it is not only in the form of fiat, the simplicity may be to have more variety in withdrawals and deposits which of course this is actually used as more utilization because we are certainly aware that when crypto enthusiasts gamble, sometimes they prefer to bet assets in crypto rather than fiat so it is clear that this is a new marketing for casinos.

Yeah cryptocurrency do give a big impact to online casino, it's not easy for unregulated casinos to accept fiat/e-wallet because the banks would freeze the accounts, limit them to gamble online. However, if we're using cryptocurrency, the government is still less educated about cryptocurrency, so they still not really aware to know which address owned by whom and how to stop it etc.

Crypto casinos is still like a wild west, sad to say this, but I expect there would be a big regulations comes up in near future.

Crypto gambling has already taken over the gambling industry, holding a massive $250 billion out of the total $305.8 billion market - about 82%. That speaks volumes about its dominance. Back in 2017, the market was just $47 billion, so this shows significant growth year after year, with crypto being a major driver of that success.




https://www.globaldata.com/data-insights/travel-and-tourism/global-market-size-of-the-online-gambling-industry/

Both are mutually beneficial, for users it is quite easy to make deposits and withdrawals, and users do not need to expose account numbers or names to make transactions, there are many conveniences that can be obtained, it's just that there are still many who make gambling illegal.

The crypto casino industry and the types of crypto itself such as Bitcoin and so on, these two things are related and mutually beneficial, both from the online side and also the users themselves, especially the internet technology part to be able to run online directly which can be used by the users themselves.

With digital/crypto currency-based casinos using an online system so that users around the world no longer need to come to physical casinos to gamble, Anyone can see online casinos face to face at home or wherever they are as long as the internet is running normally and casinos anywhere can be online, that's the difference between the technological era and the past.

My assessment is that as long as there is crypto, it's not just the online gambling industry that will benefit, almost all sectors will benefit.

It exist for long time and its just online casino became more famous its because cryptocurrency has been known then casino use it also the pandemic happen. This two things became a recipe of success that's why online gambling became famous for lots of people in different nation.

We can really say that the existence of crypto help these businesses to operate more easier that's why its expected that this industry will boom more especially that cryptocurrency adaption became more wider.

Both really benefit from it that's why online casino right now became a multi million dollar industry.

Both the casino and gamblers are benefiting from cryptocurrency. It's because if it's easy to use, that makes some gamblers adopt to it.
 
In some cases, it saves crypto casinos the stress of swift transactions as they don't have to worry about international settlements. All deposits and withdrawals can be handled without much stress or need for bank approval. 
 
For some people whose fear of not getting their bank account connected to gambling activities, crypto makes it easy for them to gamble, accumulate, and spend crypto with less worrying about privacy.

Yes but you are referring to cross border transactions. In my country, fiat casinos transaction are also fast and easy. You can fund your account on a gambling site easily from your bank. But if it is cross border or offshore gambling sites, I noticed only wire transfer is allowed in my country and it can take more than 14 days. Also now credit card transfer to those international gambling sites are blocked in my country but crypto made it easy.

Absolutely, it’ll boost the market since as crypto gambling gains popularity, demand for crypto is bound to grow. People are definitely getting more comfortable with crypto gambling, especially since KYC requirements are looser compared to fiat casinos, where KYC is pretty much a must to start gambling. So it seems inevitable that more gamblers will shift to crypto, especially as the market sees more regulation.

But it’s really about volume in these crypto casinos. Big players, the ones betting $100k to $1 million will likely stick to highly regulated casinos like those in Vegas for the added security. However, for regular users and casual gamblers, crypto casinos have a strong appeal due to ease of access and fewer restrictions.

Obviously Crypto and Gambling are mutually beneficial where the adoption is greater now probably almost many casinos are accepting crypto as their currency, on the other hand crypto is becoming more popular with such a large number of transactions.

In the future it will grow more for both of them, moreover gambling is never quiet in any aspect so crypto will grow more and more some players will use online gambling and the currency is chosen crypto.

Crypto and gambling will benefits from that because when crypto becomes bigger, gambling industry can also bigger. The online casino will see this as the opportunity to make more money especially when they use crypto for the bet besides of fiat. They see the popularity of crypto increases and many gamblers also use crypto to playing gambling.

We may see many online casinos launch their business and use crypto as their major payment. But they also accept fiat that many gamblers still use. Gamblers who doesn't know about crypto but often visiting online casinos will see the existence of crypto so they will learn how to use it. The growth of crypto and online casinos/gambling in this matter will increase while more people will use crypto and playing gambling using crypto.

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.

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.

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.

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.

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.

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.

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.       

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.

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.

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.

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.

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.

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 -

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. 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.

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.

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.

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.

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.

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?

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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.

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.

Both crypto and casinos have definitely helped each other in their growth and adoption, some people are holding cryptocurrency because of gambling while others are gambling because they can use cryptocurrency to fund their gambling accounts. The internet has opened doors for people to explore in different ways and it has modernized gambling, now you don't have to visit a physical casino to gamble. Also cryptocurrency like Bitcoin are the new digital cash and the adoption is increasing rapidly both for investment, trading and gambling. Both crypto and gambling are blessings to each others adoption.

It could also be added that crypto casinos allow people to play in countries where the very presence of casinos is prohibited, and by using cryptocurrency, people can make deposits without the control of their banks and any legal obstacles. From here, a parallel can be drawn between the interaction of crypto casinos and cryptocurrency, since casinos are getting more and more clients, and people interested in gambling are coming to crypto, increasing the number of cryptocurrency fans.

Cryptocurrencies have made things a lot easier for anyone who likes to gamble online. It used to be complicated to gamble online, at least from my country. It was impossible to deposit money from any bank, I needed a separate account for foreign currencies... long time for deposits, and even longer for withdrawals. Cryptocurrency has changed all that, faster transactions, availability of most casinos, everything has become easier. And that's what we players like, we want it to be easy and simple, without many questions...

As you have already written, everything is interwoven... Everyone benefits from everyone in this circle, when it starts to grow and attract people, when money comes in and is invested, then an incredibly fast development takes place. When I compare the time between now and when I started crypto everything has progressed so much, and we are probably still at the beginning...

I believe that cryptocurrency is what has contributed to the growth of some online casino. Come to think of it, crypto made possible easy and fast payment, lots of people were and are still clinging to it, there is a large number of world's population who are investors in crypto including some gamblers. The casino saw it as a good opportunity to introduce in their platform what the people love most and feel comfortable with it and that was how they added crypto payment to their system.

Since there are majority of gambling casino uses crypto it can be seen growing in the industry. Maybe give or take of few more years and even in real house casino we can see some supported crypto for trading chips in order to play like in Las Vegas and many profound gambling areas in the world.

The tied with forum marks an increasing number of users into gambling using crypto what more if its goes outside it realms.

Yes, both crypto and gambling benefit from one another because gamblers now know that crypto can be used for gambling. They have two option payment to playing gambling whether crypto or fiat so they can try and feels the benefits for them.
In a few years ago, when crypto was not popular yet, people who use crypto to gambling is not too much. But after crypto popular, people see that crypto have many benefits to them including to be used for playing gambling.
That two sector played a part in the growth in online gaming and crypto because that can attract more people to comes and feels the new experience of using crypto. The gambling and crypto sector will change what we see know and it's already happened.

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.

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?