Crypto casinos pros and cons | Bitcointalksearch.org

pakhitheboss

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Quote from: Bitcasino.io Support on May 08, 2020, 04:37:50 AM

Hi guys!

We are all here because we like playing with crypto

There are many advantages of gambling in crypto casinos, e.g. privacy and speed. Or something else?
But are there some disadvantages for you compared to fiat money casinos?

Cheers,
Karl

The biggest disadvantage is the conversion rate to USD. If the cryptocurrency market goes in red while you are winning the actual value of your earnings might be less than what you invested to buy those cryptocurrencies.

This can be also an advantage if the market is up. But, most of us do not care as we are there to gamble.

FlightyPouch

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Quote from: KTChampions on May 22, 2020, 06:56:34 PM

Quote from: FlightyPouch on May 21, 2020, 06:12:24 PM

Quote from: xSkylarx on May 12, 2020, 06:30:06 PM

The convenience of anonymity can be abused by minors creating more gambling addicts. We all know that sever gambling addiction can cause other problems like alcohol problems, drugs, crime and etc. Both gambling form has its own advantage and disadvantages.

Well, if you will be thinking about it, minors are legally gambling online and most of them are even streaming. I am talking about those minors that are playing online games with these loot boxes and other gacha mechanics. It will not always be the online casinos but there are a lot of other things that we could consider gambling.

Loot boxes have different legal status in different countries. In some countries, they are equivalent to gambling and are prohibited for minors. When I found out about this, I was surprised, but after encountering such things in some games, I realized that this was a reasonable decision.

Yes, and there are those countries that legalize it. Also, if you don't know, there are those separate or maybe independent sites out there that let you deposit money so you could buy loot boxes on them and connect your Steam account on that site. Just like an online casino, a minor could lose a lot of money in there, if not, his/her parent's money.

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Quote from: FlightyPouch on May 21, 2020, 06:12:24 PM

Quote from: xSkylarx on May 12, 2020, 06:30:06 PM

The convenience of anonymity can be abused by minors creating more gambling addicts. We all know that sever gambling addiction can cause other problems like alcohol problems, drugs, crime and etc. Both gambling form has its own advantage and disadvantages.

Well, if you will be thinking about it, minors are legally gambling online and most of them are even streaming. I am talking about those minors that are playing online games with these loot boxes and other gacha mechanics. It will not always be the online casinos but there are a lot of other things that we could consider gambling.

Loot boxes have different legal status in different countries. In some countries, they are equivalent to gambling and are prohibited for minors. When I found out about this, I was surprised, but after encountering such things in some games, I realized that this was a reasonable decision.

FlightyPouch

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Quote from: Kasabus on May 22, 2020, 09:55:38 AM

Quote from: FlightyPouch on May 21, 2020, 06:12:24 PM

Well, if you will be thinking about it, minors are legally gambling online and most of them are even streaming.

I have never seen a site that says minors are allowed to gamble, although they can't verify if the gambler is minor or not due to anonymity, but it's always in the policy that minors are not allowed to gamble, now, if such minor will still persist to gamble, what he is doing is he is illegally gambling.

I am talking about those games with loot boxes and gacha games mechanics, not really online casinos. These features are obviously gambling since they are betting their money into getting something they wanted to from the game. Some people are not aware that these kinds of features in games are gambling, and this might be the reason why some minors knew gambling.

Kasabus

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Quote from: FlightyPouch on May 21, 2020, 06:12:24 PM

Well, if you will be thinking about it, minors are legally gambling online and most of them are even streaming.

I have never seen a site that says minors are allowed to gamble, although they can't verify if the gambler is minor or not due to anonymity, but it's always in the policy that minors are not allowed to gamble, now, if such minor will still persist to gamble, what he is doing is he is illegally gambling.

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Quote from: xSkylarx on May 12, 2020, 06:30:06 PM

The convenience of anonymity can be abused by minors creating more gambling addicts. We all know that sever gambling addiction can cause other problems like alcohol problems, drugs, crime and etc. Both gambling form has its own advantage and disadvantages.

Well, if you will be thinking about it, minors are legally gambling online and most of them are even streaming. I am talking about those minors that are playing online games with these loot boxes and other gacha mechanics. It will not always be the online casinos but there are a lot of other things that we could consider gambling.

iv4n

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Every man will find what he is looking for! If you search for pros and cons in off or online gambling you will find them. But why would anyone do that? You can try both and you can do what you like, without overthinking and unnecessary drama about it.
I found myself in crypto gambling, privacy and easy access (you can gamble, make deposits and withdraw from any place) are important for me. The comfort of my home can't be replaced, I like to drink and smoke cigars, to relax totally. I don't say I will never visit some ground based casino, but chances for that are low.

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Quote from: carlfebz2 on May 19, 2020, 04:26:53 PM

Pros;

Fast deposits and withdrawals
No KYC
Anonymous
Accessbility

Cons;

Ambiance is different
You cant socialize
You cant touch or feel that tactile

Its not always fast. The deposit depends on your fee you pay. Some casinos delay the withdrawals.
Right now, more and more casinos are asking for KYC. Eventually if all casino would like to operate legally, they will have to be asking for KYC.
Won't be anonymous if you will have to submit KYC.
About cons, there are sites (like CryptoGames) that allows you to chat with users while gambling, so you make profit and socialize both at the same time.

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Quote from: Bezobraznike on May 19, 2020, 01:14:41 PM

You have a point South Park, we can't say that KYC is a disadvantage of crypto-gambling when all fiat
gambling sites have that rule! But not all crypto-casinos have that rule, there are still many of them that
doesn't ask for it.

Fiat gambling sites is regulated by most of the countries that's why KYC is a must. Mostly, bank deposits are the usual method so it's necessary.

On the other hand, Crypto-gambling isn't regulated by countries but complying with the law with a license to operate that's why KYC shouldn't be imposed here.

It's a big no for a crypto-gambling site to imposed KYC.

carlfebz2

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Pros;

Fast deposits and withdrawals
No KYC
Anonymous
Accessbility

Cons;

Ambiance is different
You cant socialize
You cant touch or feel that tactile

ethereumhunter

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Quote from: Sanitough on May 16, 2020, 05:01:11 AM

There are minors that will gamble, but gambling sites has no responsibility to check if the gamblers are really illegible or not since they are promoting an anonymous gambling, though there are minors but it's not big enough to destroy the crypto casinos because they allow minors to gamble, for me that is not a thing online actually, in our country a lot of minors are even able to access porn sites though this is not for minors, same thing with gambling.

Yes, that is true. The young people can come easily to the gambling site, and they will free to play gambling. They can deposit by using crypto after they buy it on the exchanges or using the other way. The internet can give good and bad information depends on how we use it. And we know that young people can access anything they want without any problem. So we need to have a responsibility with what we did, and if we have kids, we need to take care of them so they don't do something that can break the rule.

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Quote from: South Park on May 18, 2020, 11:23:08 AM

Quote from: asu on May 12, 2020, 02:41:21 PM

The main disadvantage of crypto casino to fiat money based is the anomity that some of the crypto casino now requires to do KYC, in which defeats the purpose of gamblers that would like to play in crypto casino.

While without a doubt know your customer policies are very troublesome at the same time I do not think that we can say that is a disadvantage of cryptocurrency casinos when all fiat casinos force you to go through that process, if anything it just puts cryptocurrency casinos in the same footing, but you are right when you say that this defeats the purpose of gambling with cryptocurrencies, at that point I might as well gamble with my fiat instead of gambling with my bitcoin because I know that over time bitcoin will become more valuable while fiat only loses value as governments keep printing it.

You have a point South Park, we can't say that KYC is a disadvantage of crypto-gambling when all fiat
gambling sites have that rule! But not all crypto-casinos have that rule, there are still many of them that
doesn't ask for it.
Gambling is a good way to make more Bitcoins, but it's a good way for losing them too! Bitcoin will be more
valuable in the future, maybe that's why every big win in Bitcoins means more for people who like to place
high bets.

South Park

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Quote from: asu on May 12, 2020, 02:41:21 PM

The main disadvantage of crypto casino to fiat money based is the anomity that some of the crypto casino now requires to do KYC, in which defeats the purpose of gamblers that would like to play in crypto casino.

While without a doubt know your customer policies are very troublesome at the same time I do not think that we can say that is a disadvantage of cryptocurrency casinos when all fiat casinos force you to go through that process, if anything it just puts cryptocurrency casinos in the same footing, but you are right when you say that this defeats the purpose of gambling with cryptocurrencies, at that point I might as well gamble with my fiat instead of gambling with my bitcoin because I know that over time bitcoin will become more valuable while fiat only loses value as governments keep printing it.

passwordnow

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Quote from: Sanitough on May 16, 2020, 05:01:11 AM

Quote from: passwordnow on May 16, 2020, 01:46:38 AM

Quote from: xSkylarx on May 12, 2020, 06:30:06 PM

The convenience of anonymity can be abused by minors creating more gambling addicts. We all know that sever gambling addiction can cause other problems like alcohol problems, drugs, crime and etc. Both gambling form has its own advantage and disadvantages.

This is one disadvantage but how can we be sure of it that many of them are gambling? I doubt it that there's ample of them, they don't even know how to buy bitcoin and they can't even buy bitcoin because they are minors and don't have something for living.
This is a minimal case but I'm not confident of it as well because many or less, they are still minors that should have been guided by their parents.

There are minors that will gamble, but gambling sites has no responsibility to check if the gamblers are really illegible or not since they are promoting an anonymous gambling, though there are minors but it's not big enough to destroy the crypto casinos because they allow minors to gamble, for me that is not a thing online actually, in our country a lot of minors are even able to access porn sites though this is not for minors, same thing with gambling.

Yes because there's no way for them to track their users through age. As long as they are open to anyone that can deposit, they wouldn't care. The only checkpoint that they will start delaying users is when they're about to withdraw. When they have found something wrong for a user's account, that's how they will start making an issuance to the user that they have to clarify some things first before the withdrawal proceeds.

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Quote from: passwordnow on May 16, 2020, 01:46:38 AM

This is one disadvantage but how can we be sure of it that many of them are gambling? I doubt it that there's ample of them, they don't even know how to buy bitcoin and they can't even buy bitcoin because they are minors and don't have something for living.
This is a minimal case but I'm not confident of it as well because many or less, they are still minors that should have been guided by their parents.

Minors are probably going to learn about Bitcoin way easier than we did - they represent the new generation, most of them were born post Bitcoin's existence. Kids don't have a monthly wage but they do have their ways to get their BTC for free *cough* parents' credit cards *cough*

I think the number of minors gambling online and using services that are supposed to be for adults only is quite large. Best example is the fact that most replies on YouTube channels that are supposed to be for a 15+ audience are written by kids (for proof, just take a look at any kind of meeting of YouTubers and their fans).

As a parent, it gets harder to control what your kid does the more tech advances. A kid is curious, so it's quite obvious that there'll be a time when that kid will want to try out what they're supposed not to. Moreover, most of them are addicted to gaming so they'll want some bucks to get games with - do you really think kids know what money means? Because for most of them it's just a number that goes down when you buy games Cheesy

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Quote from: passwordnow on May 16, 2020, 01:46:38 AM

Quote from: xSkylarx on May 12, 2020, 06:30:06 PM

The convenience of anonymity can be abused by minors creating more gambling addicts. We all know that sever gambling addiction can cause other problems like alcohol problems, drugs, crime and etc. Both gambling form has its own advantage and disadvantages.

This is one disadvantage but how can we be sure of it that many of them are gambling? I doubt it that there's ample of them, they don't even know how to buy bitcoin and they can't even buy bitcoin because they are minors and don't have something for living.
This is a minimal case but I'm not confident of it as well because many or less, they are still minors that should have been guided by their parents.

There are minors that will gamble, but gambling sites has no responsibility to check if the gamblers are really illegible or not since they are promoting an anonymous gambling, though there are minors but it's not big enough to destroy the crypto casinos because they allow minors to gamble, for me that is not a thing online actually, in our country a lot of minors are even able to access porn sites though this is not for minors, same thing with gambling.

passwordnow

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Quote from: xSkylarx on May 12, 2020, 06:30:06 PM

The convenience of anonymity can be abused by minors creating more gambling addicts. We all know that sever gambling addiction can cause other problems like alcohol problems, drugs, crime and etc. Both gambling form has its own advantage and disadvantages.

This is one disadvantage but how can we be sure of it that many of them are gambling? I doubt it that there's ample of them, they don't even know how to buy bitcoin and they can't even buy bitcoin because they are minors and don't have something for living.
This is a minimal case but I'm not confident of it as well because many or less, they are still minors that should have been guided by their parents.

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Quote from: Ucy on May 15, 2020, 05:19:17 AM

Quote from: michellee on May 14, 2020, 03:40:44 AM

With the easiness of playing online gambling, people can turn into addicting without taking any longer because they are playing gambling at their home, at any places they want, they don't have to go to the casino. The addiction will become bigger once they tempted with the prize on the gambling website, so that makes them spend more money.
We need to know the advantage and the disadvantage, so we know how to prevent.

I think there should be some sort of tools or other things put in place to check the behavior and prevent players from getting addicted to the easily accessible online casinos. One of my favorites would be to frequently remind players of the risk of addictions especially those who have been playing for long but not doing well. You help them out of the situation if they refuse to listen.

I don't think there is a tool to detect or check the behaviour of the player that is addicted to the gambling website. The casino would love to see if the gamblers can come to play gambling games on their site every day and spend much money because that means, the casino will get a lot of money from the gamblers Grin

We can remind players about the addiction, but we cannot always stay beside them, and they need to responsibly with what they do in the gambling games. We can only tell them that they don't play too long in gambling games, but we can help them to get out of gambling if they need us.

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Quote from: michellee on May 14, 2020, 03:40:44 AM

With the easiness of playing online gambling, people can turn into addicting without taking any longer because they are playing gambling at their home, at any places they want, they don't have to go to the casino. The addiction will become bigger once they tempted with the prize on the gambling website, so that makes them spend more money.
We need to know the advantage and the disadvantage, so we know how to prevent.

I think there should be some sort of tools or other things put in place to check the behavior and prevent players from getting addicted to the easily accessible online casinos. One of my favorites would be to frequently remind players of the risk of addictions especially those who have been playing for long but not doing well. You help them out of the situation if they refuse to listen.

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Quote from: Vaculin on May 14, 2020, 03:52:11 AM

Quote from: michellee on May 14, 2020, 03:40:44 AM

With the easiness of playing online gambling, people can turn into addicting without taking any longer because they are playing gambling at their home, at any places they want, they don't have to go to the casino.

That will solely depend on the individual, if a person is so irresponsible then he will be addicted easily and he might ruin his life in just a very short period of time. Gambling addiction is like a disease that will not only destroy our finances, way beyond as it could also destroy our life in general.

This is something that we should not allow to happen to ourselves, therefore prevention is always very important.

Yes, maybe we already saw some sample in around us about that person, so we can learn from them, and never try to spend more money if we don't have good responsibility. It is easy to become addicted, but it will difficult to cure the addict, especially if that is a huge addicted. But we can prevent the addicted by having many things that we already learn in many ways so we can avoid the addicting. The prevention will be needed before that is too late to realize, and we can regret to know that.

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