Topic: Crypto Gambling : How it works / pros and cons!! Gamble responsibly. (Read 520 times)

Does non-KYC casinos still matter these days? Because no matter how we want being anonymous, but we are left with no choice seeing majority of gambling casinos, even crypto casinos have already required KYC. Or some may don’t require in the beginning, but when it comes to withdrawal, KYC is a must, so you have to comply on it so you can get your funds, otherwise your winnings will be gone like thin air.

The reason why those casinos do not offer pf games is mainly because they know their customers don’t care too much about it. That’s the sad truth. Not many gamblers vetify their bets or even know what provably fair is or how important it is.
But to be fair, many trusted casinos offer a wide range of pf games mainly the original and in-house games.
Implementing pf algorithms into slots games and vetifying their results is a bit more complicated. But there are still some games providers that offer such games such as BGaming.

This feature - provably fairness, has been the subject of discussions even in the early stages of gambling. There has been several topics here that you can find with comprehensive discussion on this matter. Just a couple of the threads here -

Brief explanation of what PROVABLY FAIR means(for those who are wondering)
Do you verify every bet as a gambler? Provably Fair Guide.

The first thread showed that more than a decade ago, 11 yrs to be exact as it was posted Nov 18, 2013 - this has been brought up already in the gambling section. Do remember that there's no gambling license yet for those early crypto casinos, so people are just relying on one of these features - the provable fairness. So this is important for the players in order to check the site's credibility.
The second one though is a very good thread discussing this tool if you do want to verify the fairness of the site, posted more than 4 yrs ago.

Provably fair unfortunately is not available and hasn't spread as widely as it should have been in 2024. It should be the norm of crypto gambling games now IMO. Because it really brings something new and disruptive, something good for the reputation of gambling activities. And it could bring more people to gambling games and betting. It was a new promising paradigm but unfortunately casinos and most customers don't seem to be interested in it until now. I hope it will change in the future though.

One of the things that the reason on why we are really that loving crypto gambling on which because of its pros on which there's privacy and easy way on how to make dealing with on which it is really that unlike when dealing up with those traditional casinos on which you will really be needing up to verify yourself. There are really that those individuals who do really give out importance when it comes to their identity on which they do really that prefer on dealing up with crypto space and this is something that they do really like out because of that ease of playing and having that anonymity, but somehow these things do really changes up on the time or moment that it did boomed out or becoming that getting too much attention or simple this industry becomes bigger because soon these anonymous sites becomes that regulated gradually on which getting up some license for them to operate had become that needing to comply with some rules and regulation for them to be able to operate on which is the main reason why on we are seeing those casinos crypto based asking for some KYC before you could really be able to play but somehow there are still those remain unchanged overtime. Just like on exchange platforms too that over the years these kind of regulation had become that more strict on which considering that these type of businesses are really that generating that too much big income or revenue and thats why its not shocking that government would really be doing their very best to get a hold of these businesses via those regulation. About cons that cant be easily controlled on which this one pertains about addiction on which this is something a personal
type of problem that not anyone will be able to resolved it out.

This is a fun point because most casinos nowadays doesn't offer this, since they work with verified slots providers then the games doesn't let us verify our rollos or change our seed, we have to blindly trust on this games.

Well, it is not about privacy for everyone, most people do not care about what you say about their gambling life, so those who do not care about that can use the physical casinos as an alternative and also enjoy the extras attached to it if such is lucky to gamble at advanced and entertaining gambling outlets. But the issue I have with the guy is that he believed a physical casino is a solution to gambling addiction, this is indeed a misconception, every gambling setup can make anyone addicted.

Yes, I highly agree with you, here most players love to gamble on online casinos instead of visiting offline casinos. Some even avoid offline casinos because they hold bad reputation and if others find out that someone goes to a casino then that person losses his respect in eyes of his loved ones.

This forum members love to enjoy their time by placing betting on online casinos and it's more convenient to gamble on online casinos than on offline ones. When it comes to sports betting then it's 100x better to to do online than finding offline brokers who may place such bets. So in end online gaming wins even if majority of members support it here or not, still it will win when you consider all those factors.

If you can not hide your gambling activities, did you know that is lack of privacy. On online gambling sites, you will still have some privacies.

Another thing is that what that matters most is for someone to know how to gamble responsibly, not only about not gambling because of addiction. As for me, I have a little percentage that I put on gambling every week which is not more than 2% of my income weekly and it is online gambling.

And you think this is the solution? You're wrong.

Gambling online or physically has their addictions, don't let us always distract a fact while the problem lingers. I've seen a lot of people who do not gamble online to date but are so addicted to physical gambling. They have tried all sorts of gambling activities with physical shops, but did not help them make money, still, they continue and it only mounts desperation and frustration on them to the point that people now look at them with ridicule after many attempts to help them overcome the addiction.

This is why I say we should understand gambling before we venture into it, this is the only solution. We must ensure that we take care of the psychological and managerial part if we ever want to be responsible in gambling. If you overcome "gambling" as a context, you've overcome all, it doesn't matter the location (offline or online).

for me it is easy to become addicted when you are gambling online so i think i will not favor this instead better to continue gambling in traditional ways in which physically ,
less chances of addiction and we cannot just hide our gambling activities not like online that you are free to keep hiding in the closet while playing .

If is a debate and not a vote or poll, them online cryptocurrency casinos will still win, because of the level of their popularity here on this Forum 100% of members of this forum gamble online and almost none or less than 1% of the population here gamble on offline casinos, so asking this here we already know where and what we stands for in this Forum and what the advantage of online casinos are to us here also.


Most of us here adopted online cryptocurrency casinos because of the convenience and also privacy that we enjoyed from using online casinos, and as a cryptocurrency enthusiasns we love privacy despite gambling on centralized online casinos, we still value the real life privacy, that is the ability to gamble without anyone knowing what you are doing, that alone is a huge attraction to online platforms.

Yes, that might be the reason why he posted this in gambling board because here most people who gamble share their insights and OP also wanted to get some attention by posting it in this board. It's true that if he posted this in other boards then most people might not vote in favor of crypto online gambling sites.

I don't want to repeat what he said but that tells it all that it is possible now to gamble anonymously with the help of crypto because some or most of them are decentralized. Cryptos are invented not because of the cheaters but it is to counter the centralization system which can suck. We can't only avoid that cheaters are also taking advantage of this new technology. They still can get caught anyways and if not, for sure they still can get a bad karma.

Cryptos are not new and eventually, centralization also joins here, so as you said, there are now some gambling sites who does require a KYC but I think this is also to protect the consumer from the bad guys, so they are still helpful somehow.

Crypto gambling is when you gamble with crypto currencies like making weird trades or investing in meme coins hoping you will get rich. What you mean here I believe is crypto casinos.

For your first point, how safe you think it is to create an account only with an email? Account security would be a big risk in such casinos. Also, never connect your wallets in which you are holding most of your funds. And in case of provably fairness, it has nothing to do with blockchain. You just use hashes and seeds to verify the outcome.



If you playing on a centralized casino, there is no such thing as privacy. You will eventually have to verify your identity. You can gamble globally and still access the site, but you might be breaking your local laws.

Some of the things op listed are really those knowledge a newbie needs before venture into cryptocurrency gambling. However,  i will like to stress this,  security of your funds is most paramount due to the decentralized nature of cryptocurrency and the potential for fraud. You should do alot of findings on platforms and only invest on those platforms that used 2 factors authenticator, cold storage for funds and regular security audits before creating and funds your account with them.

This type of topic is hilarious because on every online crypto casino gambling website, one can easily this this.

Anyways , the pros of crypto casinos are what has attracted be to them. And the big word there is convenience. I can do everything from the convenience of my room. If it were fiat casino online payments and withdrawals would have been a hassle but that has been erased by crypto. And although there is a con which likely a higher transaction fee, one can also change between coins to minimize the amount paid in transaction fees.

Based on religion believes, some few countries ban online and any form of gambling within their citizens, this is to protect them financial and also protect their religion believes and mentained their holiness since gambling may be seen as a sin in such a religion, but we have several countries that have gambling friendly regulations while some other just look away from gambling and allow their citizens to do whatever they like when it comes to gambling.

This is the reason why we can see someone gambling online a d offline without even knowing what the laws of the country say about gambling, wether or not if it legal or illegal to gamble both online and offline.

All of this are the major mischief that surround gambling, regulations and prohibitions among countries around the world

Most countries don't prohibit their citizens to gamble online, even onto unregulated casinos afaik, they usually just prohibit unlicensed casinos by themselves to trade with their citizens, it's not the same thing actually. So in many countries casinos and exchanges could get sanctions theoretically, if they accept their citizens, or are available to them but not their customers, because laws are not against them precisely. Except in countries where gambling is prohibited for religious or social reasons of course.

If the casino is licensed, expect that they will require you to comply the AML/KYC protocol as it is part of their compliance to their licensing authority. I believe, this is already the common practice already among gambling sites in order to penetrate the mainstream market. As this business is already under the regulation of the licensing authority, they need to abide the laws promulgated to operate this business.


If we are in crypto forum, more than likely, every will favor the crypto betting site. Privacy now is like a thing in the past. As this business is going mainstream, and so is the compliance with licensing and regulatory agencies. Hence, compliance with AML/KYC protocol is just the new normal in this business.

Thats right bud, but then, there might be some exceptions specially in the area of online gambling platforms and crypto casinos.
Online gambling platform can be referred or assumed to represent online casinos in General, this is to say that online casinos that accept only fiat currencies, and those that accept crypto, can all be categorized as online gambling platforms.

But on the other hand, crypto casinos are known to be online gambling casinos that accept cryptocurrencies as a means or medium of deposits and withdrawals..

This two both remain online gambling casinos, but their mode of payments is different and that's all that there is to them.

At first, they won't ask a user to comply with KYC but eventually, they will. That's known already in the community when most of the known casinos have started asking for verification, additional, or a beginning process.

It might be beneficial for starters but expect and see to it that everyone is going to be asked later on. Who benefits the most from this are the casinos and the regulators, they're using it to trace dirty funds that are used into laundering with the use of these casinos.

Anyway, this thread should be on the Gambling discussion and not this section.

That is true and it shows how biased people can be towards a section. Although the vote garnered by the poll is not much compared to the battalions posting in the gambling section of the forum, we may know the better picture if at least 100 users voted. Although the support for online crypto gambling will still win but the opposition will also increase. This will become worse if it's posted on the Meta section. You can be sure that it may not be able to attract the support of 15% of voters. That's how fake people can be.

I think he posted it to distort, and the post has been discussed to be AI-generated, so he is not serious. His profile speaks loudly of that too.

As expected, thumbs up only for crypto gambling. I am also "only crypto" gambling person, I don't even wish to bother with fiat & banks. As OP wrote in his posts, there are some pros & cons, but if we are careful with where we play we will not have any serious issues.

With that said, crypto casinos have more pros than cons. Those who learn how to navigate and make a difference between good & bad casinos (with their experience & help of this forum and some review sites) don't run into problems, and even if they run into an issue, it's mostly resolved. We know the rules, and we play by the rules.

And never forget to gamble responsibly!

Some things are very easy while the people are making it more complicated because of their little way of understanding, there is nothing different in online gambling platforms and crypto casinos, they all exist to be gambling, the common one i see people most react and talk about is in differentiating between a casino bet and sport bet, but everything fall under gambling, which we may have it either online or in physical.

I sincerely don't know the context you are making your comment from, and this is because I really can not or don't know how you differentiate crypto gambling casinos from online gambling site, to or for me, this two are basically the same, any online gambling casino can decide to accept cryptocurrency deposits and withdrawals, and it doesn't matter is the site is centralized or decentralized.

And as a matter of fact, currently, we have much more centralized online casinos that accepts crypto deposits and withdrawals, much more than decentralized casinos at the moment, and it's also important we know that regulation or no regulations, any casino can decide to be reputable and trustable, while any casino can decide to be a rogue and a scam.

It'd have been much appreciated if he spent some time to source up the thread with some original idea rather than use the help of AI, so in my guess, the credit is to be accorded to the AI because anyone can easily ask AI to provide them with the answers of what they want to know.

Should I admit that op has done well reminding us about little things we need to know about gambling. Honestly this is just funny and I promise I'm not going to laugh my ass out! Just like waking from sleep and trying to impress some bunch of school children. Maybe we should admit that's cool but I think op need to do better than this. This is too cheap and does not have concrete details to make this post absolutely amazing. Since he has put an effort to write this post, then I thinks we just have to appreciate such an effort but need to try hard next time. Gambling is more difficult than what I've read from his write up.

Risk of scams. That is the only thing I am worried about with crypto gambling or should we say decentralized gambling? If there's an owner then I don't think it should be put that way. It should be regulated just so the customers know their money will not be robbed from them.

Reputable online gambling sites are already accepting cryptocurrencies so why else should a gambler trust a crypto gambling website and take the risk of losing their money? I mean, gambling could become a high amount of money habit and there are others who would thousands of dollars equivalent to cryptocurrencies to bet. Is that kind of risk worth it? I don't think so. Privacy is good but losing money is going to hurt.

And the results of the poll will definitely favor the crypto online betting sites because he is asking in the gambling section of this forum. So expect that everyone will vote for yes here in crypto betting site. You can get a no answer if he will post this in the general discussion board as some users here are not gamblers.
The OP's content has been discussed many times already, so don't know the reason behind such post as he is not also endorsing any casino here.

You know, the essence why I actually gave such reply is because I don't even see newbies repeatedly asking about a gambling guid on this board. So, I am quite surprise to see some creating a topic that is not regularly patronize.

He has not come to deny that he used AI to create the topic.

It depends. This is a guide topic on bitcoin discussion: Everything you wanted to know about Grayscale BTC Trust but were afraid to ask!

There are many on bitcoin technical boards. It can also be in altcoins board et cetera.

This one is related to gambling and should be created on gambling board. But this kind of discussion is not new. It has been long that cryptocurrencies are used for gambling.

It is also shameful that he used AI.

The Bitcoin discussion board is the last place op will want to create a topic like this, this won't even be moved here, but it will most likely be deleted completely or moved to trash.

This type of thread is best in the beginners and help board since the information therein is meant for those who are complete gambling novices, or those who plan to enter into gambling newly.

But all the same, I honestly expect nothing more or less than this from an account with 3 tags already, that don't mind utilizing Ai to post, even while knowing possibly knowing that the use of Ai to create post on this forum is always frowned at.

Hahaha...OP, it seems you are not following the trend of the section you posted in, nevertheless, what you posted is not off at all, only that most people might see it as some rookie-like approach even though you are not a rookie on the forum but with a questionable account and character after reading a few of your tags. Well, if you are genuine this time and well-behaved, maybe people can learn from you.

By the way, thanks on behalf of the new gamblers regarding the article, it was helpful, I must say.

@OP, you did said that this topic is for newbies, it would be understandable if you created some help beginners topic on the beginners and help board or Bitcoin discussion board but on this board, how many times do you see newbies coming to ask what gambling is and what it's not?

Well, such a post can be written easily within 1 hour to 2 hour time as everything in the post is generic and can be easily found online without much hassle. However, if you would give proper time to the post then I believe almost everyone would appreciate that. Instead of posting it here you should post it at Beginners & Help board as such topic is more for beginners not for pro gamblers who are present at gambling boards. I hope next time when you write such a post you'll make it more informative and give proper time to write that informative post.

In favor of online crypto gambling site?

Are you late on online gambling? Even early days of Bitcoin online gambling is already existed and use Bitcoin as currency to play. I think it’s obnoxious to ask this question now that online gambling is already popular worldwide due to the convenience and lucrative rewards they offer as bonus to players which IRL casino can’t provide.

Asking this question on a gambling board sounds funny since those who will both for thumbs down surely visiting the gambling board.

answering the text on the poll
yeah, I mean, I have been using them for a while now and I am currently advertising a crypto casino. also, a lot of crypto casinos are now following regulations from countries they are under or licensed by, so they are very similar to your typical FIAT casino.

regarding the "privacy", as others have mentioned a lot of crypto casino now have KYC on their casino but there are some casino that doesn't strictly implement them on their gamblers but they will still ask you to complete it if they deem fit.

This topic was created with AI, at this point we all should notice de difference between human and AI post, most of the AI post start answering a question, and then they give numbered points on the description.

I mean the topic isn't bad but i would bet that OP didn't even read it before post it, it's easy to copy-paste and then walk away, we can trust in AI and the quality of its content.

If we talk about points like:


I don't think only crypto gambling is provably fair, and fo the withdrawals we must do KYC in most casinos nowaday.

That’s an interesting point to discuss. Ultimately, it depends on the gamblers themselves. When a casino is regulated, it’s usually transparent about where it got its license, and from there, we can get an idea of what to expect. The problem is, we often don’t check thoroughly; we just dive into gambling. At first, we might praise casinos that are regulated but don’t strictly enforce rules, especially on the KYC side, because we value privacy in the crypto space.

However, we often realize too late that those casinos not strictly enforcing their rules are licensed by providers that don’t prioritize customer protection. They’re mostly in it for the money, and their actions tend to favor the casino. As a result, very few cases against casinos get resolved because of this lack of protection.

For an obvious reason ,this account is trying to build his name again as a hacked account and being tagged by multiple DTs he wanted to have small reputation again by creating such thread (there is still small information here specially in new accounts or new gamblers) so maybe let's give him a benefits there .

It certainly looks like your post is an AI generated one op and your bad trust history isn't really helping you here. Anyway, regardless of whether it's AI generated or not, you forgot to mention one very important detail which is KYC.

KYC has pretty much become mandatory in almost all centralised crypto gambling sites to varying extents which is something that should have been included in the main post.

The transparency of blockchain is a major plus, letting players verify that they’re getting a fair shot, something traditional casinos just can’t offer. The global access factor also stands out since crypto bypasses a lot of the limitations and fees tied to traditional banking. The volatility of cryptocurrencies can significantly impact potential winnings or losses. It's crucial to set a budget and stick to it, regardless of the outcome.

Did you put just recently buy this account? The posting gao and change of profile details suggests it and the fact that this user has been involved in account sales for a long time makes it more possible that the account has been sold.

You would not be able to get the negative tab off and posting AI content will only get you more tags. You can enjoy the forum with your account and post normally however, but do not expect to utilize this account any other way.

According to Alone055 it took you more time to search, copy, paste then it did for you to write anything. If you wanted to make a genuine post and help users, why didn't you write your own thoughts? Why use AI generated content?

That post was meant for the newbie users who are new to the crypto world..
there is nothing to be get triggered for..
those of u guyz are pro..should appreciate as it took a hell lot of a time to write a post..

Haha 😂, maybe he didn't succeed much, as even when I read his first reply to my comment, it looked aggressive initially, but he gave himself away when he said "all jokes aside", I knew he was only joking, and immediately understood that he was just being sarcastic in the first lines of his comment.

But anyways, let assume he was even serious, It doesn't move me 😎, I already said what I said and that's my opinion, I am not the type that pick offence when a user or other users disagree with my opinion, as I perfectly understand that opinions differs sometimes, and it's an entitlement we all have our individual liberty to.

Well, as much as I hate to say this, but I just have to say it after all, and it's that anything in the gambling board goes, it's the only reason this post is getting attention, even though I would really refer to this as attention but criticism.

You succeeded in making a sarcastic look of MVP, and that is unlike you, you don't really mess around pulling people leg's, I was drained out trying to understand the ops and how low quality this topic is and what he stand to achieve which is something that almost all the newbies in the gambling board already know.

Anyway the ops succeeded in passing his message, regardless of how and manner at which the topic is presented, any ways crypto gambling is kind of hot topics lately in most discussion Forum, so for that any information or topic related to crypto gambling will definitely receive some level of attention just like in this case.

My post was mostly to mess with MVP and it doesn't surprise me being as the post is generic looking. I'm not looking for plagiarized material unless it's someone in my campaign. I'll leave that to the people that are bored and wanna feel important.

What if I tell you this post has been generated using an AI model?

I have checked it with multiple tools and services that provide AI detection services, and here are the results:

Hivemoderation: 99.9% likely to contain AI-Generated Text
Sapling.ai: 100% Fake
GPTZero: Highly confident the text is ai-generated
Copyleaks: AI Content Detected

(post archived)

Since he has already got 3 negative trust scores, I'm pretty sure he doesn't care if he gets another neutral tag for posting AI-generated content. I also wonder why he is still around, making posts using AI models. He clearly can't join signature campaigns or do any other stuff that might give him any benefits. He should have been long gone.  

OP is giving info that most users of the forum already know, but it could be useful to somebody that is just starting to use online crypto casinos.

We all could benefit more if you could give more detailed explanations and more examples.

calm down friend, there is nothing wrong with beginners giving input, everything is valid, and if it is true that he copied and developed it, it can be said that he had the intention to provide information, only he did not understand the rule that if you copy a quote you must provide a reference link. Hopefully in the future OP will be more careful so that the labels do not increase in number 

Lol 😁 I get your point boss, and you right after, what I said is by personal opinion, and I don't mean it to appear like I don't have regard for the newbies whom what the op shared may appear informative to, it's just that I don't usually see alot of gambling newbies around here any way, and someone like myself who is already an OG in gambling dont find posts like this informative in any way, as it's simply is exactly telling me what I already know of, nothing new to learn.

And on the part of op still posting even with his red tags, it's commendable really, but only if he or she actually composed this post by him or her self, as I initially said, I still believe he copied it from somewhere and did some minor changes.

After going through this, i begin to laugh, because its nothing than just telling a nursey school pupil how to read ABCD, on a normal terms, he can perform that even better than some adults.

Coming back to what you have to say in relation to you topic and the content, after going through them all, i can only figure out that what you said were actually true but not necessary because they are what everyone already knows and there is nothing new being mentioned here again.

I wonder how it happens sometimes that some people may want to give out what they don't have, or maybe should i assume that its only a reflection in lack of how to express ones self.

as I know gambling can not be anonymous, unless you intend to cheat or something detrimental, currently gambling also requires KYC if you want to make a withdrawal in a certain amount that is definitely above the normal limit, you must do KYC. crypto gambling that does not do KYC can be questioned for its credibility, those who do KYC still have fraudulent gambling, let alone those who do not require KYC on their gambling sites

Who the hell do you think you are?? This deserves to be topic of the year!!!

All jokes aside, this topic while it may be pretty crude and lack tons of info, it's at least semi informative. I wouldn't sticky it, but the OP is sorta trying. Most people get 3 tags and are gone forever.

Most crypto gambling sites nowadays are KYC gambling sites. Many of them before were non-KYC but as they are growing bigger, they become KYC casino.

Also know that they are all centralized. They can request their customers to get verified at anytime. They have AML and CTF policies which they have to be strict with as they grow bigger.

Really? Are you for real? You think we are bunch of babies here who don't know or understand what crypto gambling is all about? Or how it works?

Please, next time, avoid creating topic or thread like this, it's so boring to read, having to read a long text of what I already know makes me feel so bored and sleepy, if you can't come up with an interesting topic, please refrain from creating one, it's not a do or die affair, you can participate in discussion on other topics.

And beside, why do I have a feeling that this post was copied from somewhere?

Crypto gambling refers to online gambling platforms that allow users to wager using cryptocurrencies like Bitcoin, Ethereum, and others. These platforms leverage blockchain technology, offering some potential benefits but also notable risks.

How Crypto Gambling Works

1. Account Creation: Users create an account on a crypto gambling site. Often, only an email or wallet connection is needed.


2. Deposit: Users transfer cryptocurrency to their platform account.


3. Games: Crypto gambling sites offer games like poker, blackjack, slots, and sports betting, similar to traditional online casinos.


4. Provably Fair: Some platforms use algorithms that allow users to verify the fairness of game outcomes, a unique aspect of blockchain-based gambling.


5. Withdrawals: Winnings can be withdrawn back to the user’s cryptocurrency wallet.



Benefits

Privacy: Many crypto casinos require minimal personal information, allowing for more anonymous gambling.

Global Access: Because cryptocurrencies are decentralized, users from countries where gambling is restricted might still access these platforms.

Lower Fees and Faster Transactions: Crypto transactions often have lower fees and process faster than traditional payment methods.


Risks

Lack of Regulation: Many crypto gambling sites operate without licenses, leading to potential legal and safety issues.

Volatility: Cryptocurrency prices fluctuate, meaning winnings or losses can change significantly in fiat value.

Risk of Scams: Unregulated sites have a higher risk of fraud, with some disappearing or refusing withdrawals.


Legal Status

Crypto gambling is often in a gray area legally. Some countries ban online gambling entirely, while others allow licensed crypto casinos. It's essential to check your country's regulations before participating.

As with all gambling, responsible usage and understanding the risks are important, especially when combined with the volatility of cryptocurrencies.