Topic: Cryptocurrency In The Gambling Industry: All You Need To Know About Bitcoin (Read 1114 times)

If in a particular country there are bans on gambling, then the VPN can really fool with access to blocked resources.  But it seems to me that anonymity has nothing to do with it.  Or maybe I do not understand the topic of conversation.  Now, if a player is required to submit his personal documents, this is another matter.  But I respect this condition if it comes to withdrawing large amounts of money.

Yes, but the problem some of the internet providers will block the connection from us to them because they don't want their IP connection with the gambling website. That is why some of us decide to use VPN to connect to the gambling site.

I always choose the gambling site without KYC because I don't want to send any document to them. With the VPN access, I can visit in all website without having to experience blocking the website.

actually decentralized exchanges and gambling side never used to monitor you for any reasons maybe you IP address mind with tracking. You just need to choose the best gambling site which does not require KYC information to start gambling.

why you want to choose the gambling site without KYC information then obviously you are anonymous I don't need to worry about them.

For me anonymity of bitcoin is the best thing and if we are getting it with gambling then it is best thing. Getting bitcoin with gambling is great opportunity there are so many sites even at my place that provides bitcoin betting and gambling opportunities so I would love to gamble for bitcoin if ever had a chance.

I just hope you just summarized the whole article for hs to easily read it. Anyway, it is why it is convenient for us to transact using cryptocurrencies in different websites like gambling, forum, trading websites and apps, etc. Crypto currencies are being popular nowadays. Gambling sites or apps are now offering different coins to play with and that may be a good thing to make more gambler to patronize cryptocurrencies.

But this is other way could be a blessing for the casinos as well. Due to the arrival of cryptocurrencies which hide your identity while you gamble over a casino, a large number of people have started gambling online now unlike before due to fear of getting their id disclosed and hence getting charged with income tax as a result of a rise in income due to a win in the gambling. 

Well, this is why people prefer to have their gambling game on a fully decentralized application and site that also uses privacy coin, that is the only guarantee that they can have they are actually working through an anonymous system. When it comes to blockchain, majority of people only respect that name but does not really know how the operation looks like, and so long a website declared itself to be operating on blockchain technology, people therefore also believe that it is a blockchain system.

We have few gambling sites that are truly operating on decentralized system and those gambling sites are what we should pick interest in the most because they are the one that can truly protect your identity when you are operating through them.

And I think this issue varies from place to place and from one jurisdiction to another. There are people who do not pay taxes and in countries like Dubai, where you do not have to pay taxes, it would not be a problem to use kyc in gambling. They just do not care about their id unlike in countries where by law, you have to be a filer and making more money in crypto would mean more taxes.

It seems he copied from the link which he mentioned in the end of his post on OP, so you can check it too. Fortunatelly because of that he will not get a ban.

How can bitcoin will be the safest among fiat or traditional gambling? We all know if in bitcoin born to be anonymously, which is not safe for the site (They don't know who are betting on their site and just processed their deposit or withdrawal without knowing about them)

Agree with your opinion, more reason why we need cryptocurrency in the gambling industry. Keeping a gambler identity should be the most Paramount as cryptocurrency is concern in this industry. Bitcoin is the most safes among other gambling coins even including the fiat or traditional system.

Yeah, you can do that but i was talking about the difference of anonymity and pseudonymity. And if you want to cash it out in fiat and are not trading it otc, you most likely need a kyc in that point. That's what i meant.

Not all of the people are tech savvy so they may be using bitcoin only to gamble and not venture deep down in anonymous coins like Monero.Still compared to traditional Fiat gambling where you cannot withdraw without Kyc in most of bitcoin casinos you are allowed to withdraw a certain limit of money every time without any Kyc and this is the biggest benefit of playing with bitcoins.

I am not sure if every game played is truly anonymous as we think.

If you are not using privacy oriented coins i think that you are meaning that you can play pseudonymously rather then anonymously.
And saving taxes doesn't apply in where i live where you have to pay taxes from profits in crypto.
But as right now, our government doesn't track profits too heavily and i am rather enjoying this golden age without a kyc and getting as many bitcoins as i can before our laws get tighten on this.

This is the best gift of all time that bitcoin has been able to deliver to every gambler. It was the desire of every known gambler to play anonymously, no wonder w, we can hardly see people troop into offline casino centers like it used to be, I am truly happy about crypto gambling and I believe every gambler is.

It reminds me of an experience I had years back before crypto gambling, where I lost all my money and I felt ashamed of myself. Going home was a problem and staying back to replay Was even a bigger problem but I had to bear the shame to leave and I wished everyone around wasn’t there to see me. But today I play in my house, no one knows when I win or lose and its truly a great experience.

This pretty much a sum it all about Bitcoin in different stages of industries and life.

The biggest threat to everything is precisely the security ones, breaches tend to hurt a business substantially. Both in credibility and also the funds of customers, if the board gets too greedy it will only make their businesses vulnerable to those kind of things.

About everything else, this is precisely why Bitcoin is so awesome. It can be implemented inside different types of platforms pretty easily in comparison to how a technology like this should be.

It's really interesting and fascinating that the tech industry is about solving problems/problem solving. That mindset can help develop solutions to do the same thing worldwide.

I always agree that cryptocurrencies is safer when it comes to gambling and more secure because everything is tracked on the blockchain and you can see it in history of sites and some gambling site has aunthenticator to secure the accout of players.

I do not get this. The OP article is being copied ? If that is case then he must know that Copy pasting is not allowed here and he can face a ban.

Apart from this, Bitcoin has given a big boost to many industry and gambling is one of the most benefited industry by crypto currency.

I think this is a whole individualistic approach towards gambling using crypto. Of course there are gamblers who would do anything to make money and name in the industry and they think that crypto is the instrument to do that so they behave in a greedy way but it is also giving rise to gambler who are filthy rich. Could be used either way, by making life easier and enjoy gambling anonymously or by making use of the coin to make huge capital.

You have successfully outlined all the good sides of crypto gambling of which I agree with you completely, but don’t also forget to add that gamblers have become extremely greedy since the invention of cryptocurrency gambling. I am not trying to be on the Negative side, but sincerely, as much as online gambling has made gambling more easily, it has also succeeded in raising gamblers whose gambling motive is completely different from the initial intention of gambling.

In the days of traditional gambling, gambling was more or less for entertainment but these days, especially in this era of crypto gambling, we see more of greedy gamblers who do everything possible to make money from gambling and this has really destroyed so many gamblers.

Another thing that people like me appreciate in a cryptocurrency gambling site is that is protects us from the eyes of the government who has placed a ban on gambling activities, although they are more hard on those gamble offline, so the fear has been there for them not to even gamble  online because they all feel they might be monitored through the site, but thanks to crypto, I have been gambling for a very long time now, especially when they started the introduction of crypto gambling, and having understood the anonymity nature of crypto, I really feel safe gambling, but the only challenge now is still the KYC that some of these gambling site do ask for, this can still expose one anytime to the government, I wish it was possible to fully have a DEX gambling site.

This thread has so many copies in the internet this is one of them http://realcryptonews.com/cryptocurrency-in-the-gambling-industry-all-you-need-to-know-about-bitcoin-poker/ but anyway it's a good article Cryptocurrency gambling is an industry where Cryptocurrency can dominate in the long run and this is one of the factors, why we will have fast adoption rate.

He would have gotten merit if it was self written, he does link the source at the bottom.   Probably should have also copied this line of text to make it clear especially:
By kucoinadmin06/05/2019Category: Blockchain Applications, Cryptocurrency



That could be a big one, opening up the possibility for a mutually owned and operated circle of betting games played between friends or just people interested in a certain section of gambling.     Because crypto is decentralised we should see more of this kind of operation but the vast majority go with the convenience of a fixed website.

Bitcoin has really help in rebuilding gamblers confidence in gambling especially those that like Anonymous online. People like to hide their identity when playing gambling and bitcoin enable that. You can be gambling with your father and sibling without know through bitcoin and other coins and i believe that is the major reason people are flow into gambling industry now.

I thought it was the op's thought. You just copy the text from the link you gave. You should've rephrased or cut it short, or add your opinion and overall conclusion about the post. It's better if you give your insight about it but regardless of that, this is also good and can help newbie to know or to further understand cryptocurrency and gambling.

Agree with that. Crypto gambling now become popular since many people are interested to try to use online/crypto gambling. Crypto gambling gives an easy way to place the bets because they don't have to go to the gambling places and they can stay at their home while they can place the bets. Besides that, they can prevent themselves from the robbery that might happen if they walk away with the money to their home. They can feel safe to withdraw the money in their home and they can receive the money without any trouble at all.

Yes. Crypto gambling is more than secured than the traditional one knowing all are in transparent. And the fact that we have KYC now that is properly imposed without malice involved, all our winnings will be properly kept unlike living in traditional gambling which is more prone on robbery or any criminal acts done by losers.

Very unique post on blockchain gaming/gambling. I really think gambling on blockchain will soon take the lead from traditional means. This is because every player is sure of free and fair (transparent) game play, no bias since nothing is hidden on blockchain per say.  Also, another aspect to lookout for with gambling platforms on blockchain is security, so you don't lose your crypto assets.

Well using crypto to gamble does not really increase your chances of making more money. Crypto just keeps your identity hidden only if you are not willing to go through a KYC. Profits and wins in a gambling depends on your experience in the gambling area and on the strategies you apply during and before the game. Having certain limits at gambling are important to keep you secure and prevent you from huge loss.

So we know that we have another option to play gambling and cryptocurrency offers an easy way to place the bet. With cryptocurrency, we know that people can hide their identity, they can play as anonymous in any gambling site. But of course, they still need to limit their money in the gambling games because if they are not doing that, they will losing all of their money without having a chance to recover the losses.

Gambling is risky and you cant just say that its profitable  even when you use crypto your chances of winning is still fairly slim  .  crypto such as bitcoin is best to use for investing or trading but not really on gambling because its transfer time is slower and it also cost more fees   . there are more better currency to use when gambling  like for example doge coin and xrp since they are more lighter with lesser fees   

Yeah now a day people love to gamble with crypto currency because it is profitable and gives a chance to earn more crypto currency, we are well aware of it that crypto currency like bitcoin is has good value in market, bitcoin is best crypto coin that we can invest our money so if you are having an opportunity to get I with gambling it is such good opportunity.

Yes, anonymous transfer and transactions of the BTC across the Lightening Network is one of the major perks of cryptocurrency in gambling. Online gambling has now become such a market that cryptos and casinos are being developed all the time. Cryptocurrencies have made possible for many users to embrace technology and gamble from the comfort of their homes either playing with friends or random people, it makes no difference since you're in for the game/experience and hopefully some profit 

Privacy or Anonymity, that is the two words that summarize why Bitcoin or any other crypto currencies are used in gambling. I do love gambling, I do it with my friends to have fun but online gambling is different. You know who you are gambling with offline but online, there is a risk that is the reason why people feel safer using crypto currencies. That is also the reason why people don't usually like gambling sites with KYC.

I'm not sure about cryptocurrency making gambling easier, because as far as I'm aware crypto gambling is increasingly popular because indeed the crypto users themselves have increased so they are looking for ways to be able to get crypto from many ways and maybe faster and one of them gambling is their choice. The use of crypto is not easy for ordinary people because I also experienced it at the beginning, so with the need for a good understanding of using crypto, I'm sure at least they don't think of gambling on using crypto at first.

Keeping anonymous is one thing that people looks by, it is crypto features citing advantage over casinos. For this reason, some high profiled person will choose crypto gambling and keeping their life away from the crowd. This means that crypto has a better future and everyone looks this potentiality hitting the market demand as it gives satisfaction to all market players.

The more reason why many are gamblers want Bitcoin and some other good cryptocurrency, is because of their privacy which fiats and other shitcoins cannot do or offer. Personally, I wouldn't gamble with Bitcoin is their is no safety of privacy, so many gambler just wanted to hide their real identity, that's why they fell in love with Bitcoin and cryptocurrency.

Or just in other words, the ease of usage is what made crypto currencies a popular choice when gambling. There are people out there that likes to stay anonymous and tends to keep their real life as private as possible. For them, crypto currency is the best choice. Again, among different crypto currency, we can see people loves to bet with bitcoin since it is the most popular crypto currency.

I agree, gambling in cryptocurrencies are becoming really popular to may gamblers because of being anonymous while gambling and also gambling through blockchain technology is safer and your winnings can be processed in just a matter of minutes.

Anonymous nature is the the most accepted thing for the crypto gamblers. Apart from this there is nothing big answers we can give for gambling adoption with cryptocurrencies.
if you see in this forum or somewhere places Bitcoin is widely used on gambling industry, we can upgrade the cryptos future financial revolution as well.

most people say that gambling using bitcoin or other potential cryptocurrency is highly favored by gamblers because gamblers want to gamble anonymously and feel more comfortable if bitcoin is used as a transaction tool that can be used to conduct gambling activities globally without having to bother spending money from a personal wallet that we have it

My country is just too strict and too full of themselves with all their policies and regulations, they don’t even consider what makes other people happy. We have many people that gamble not even for the money aspect of it, but for the fun aspect of it. I am a gambler and I love gambling without getting addicted to it, when I travel to other countries where I can gamble, I am always having this sort of relieve that I left my country because I am in an environment where I can do what I love to do freely.

In my country, they did not only ban gambling for whatever reason they have, they also banned cryptocurrency and are even proposing jail for users of cryptocurrency just like India too is planning to do. One day, this country of mine will end up losing me to a friendlier one.

I think people wants bitcoin as their currency in gambling because it has good safety and no one can know about how much you have saved, there are so other coins but in case of safety we can only trust bitcoin which is best among all crypto currencies, it is anonymous but still people like it because it has high potential and good name in crypto market.

Very well, those are good insights you have there though it is a very long topic and I believe not all would take time to read it. Anyways, indeed gambling in cryptocurrencies is becoming more and more popular to gamblers due to multiple reasons, one is anonymity, gamblers wanted to gamble anonymously, another is it is safer and secure when you gamble cryptocurrency its because of blockchain being unhackable and most importantly transactions don’t take so much time to process.

I doubt you can gamble anywhere using cryptocurrency because of some restriction on gamblig site though of course you can still play if you really want to change your identity. The government are aware of this and that’ts why some of them already ban crypto gambling, its too bad to be like this but we should always use cryptocurrency in the right way.

It is true for the individuals but what about the various types of businesses?  They are not as free as us if case is about the tax and liabilities. Gambling can be an exception with shady ways but it will not go forever. Sooner or later governments will find a feasible solution for both parties and this is not something they can not intervene in my opinion.

The government has failed us and that is why some of us can not trust them with our earning. I prefer cryptocurrency for online transactions because my country has no laws now to tax it. Many countries are developing a legal framework to tax cryptocurrency business including gambling and that is why we should work as hard as we can now that those laws are not in place in other to be able to make money that government cannot tax.

So much effort for a long thread but OP can state it more direct to the point like why people wants to have bitcoin as their currency in gambling because of its anonimity and convinience. Maybe because there are a lot of this topics are already flying around the thread thats why he revise it.

Of course, the government is aware of things like that. That is why crypto gamblers, especially those who lives in a country where gambling isn't allowed, have to update their knowledge regularly in this matter. Crypto is not 100% anonymous btw.

If the government is doing the needful to the citizen then every citizen will think of it and pay taxes. Reason for escaping from taxation is the corruption that happen within the government. When the hard earnings of us is being eaten by some stupid politicians people want to get out of this taxation. This is where people go for tax evasion and the same is the case with using of cryptocurrencies into gambling.

It may be there is no reason why we need to escape from taxations, it is our obligations to pay. In fact, these small contributions will give help to the entire community. But taking into the account that is being controlled by the government, will it something not good and there is no reason why we have to control us.

But do you think it will stay that way? If gambling will flourish online using crypto in some point government also needs to act and that's what they are doing right now, trying to make this kyc procedures in order to make sure that there's no laundering that happened, if full adoptions will happen inside online gambling then expect that there's rules that will be implemented in.

But it makes different by now as mostly gambling sites today requires some personal details and I may think that from time to time, will have to accept that we need to submit KYC otherwise, we never enjoy their services. Will soon to happens that gambling won't stay anonymously as this particular scenarios are already started but yet, it needs more time.

I proudly disagree with you, the only tangible reason why many a gamblers want the cryptocurrency world for gambling is the fact that they are secure and stay anonymous while they Gamble. Privacy is my watch world as a gambler and I have gotten that from cryptocurrency gambling platform's. Cryptocurrency will surely lead the financial industry because it accept be anonymous.

No doubt some governments hate crypto currency that's why they ban it in their country, because they know that they can't control it. But still people use it, especially on online gambling.
Crypto currency wise online gambling is getting popular and a lot of people are playing daily. Also i see mostly people prefer to play online gambling with crypto and don't like to play with fiat.     

Governments are equally aware of these fact, as cryptocurrency makes it difficult to track and monitor citizens through their finances. This would factor in as one of the reasons why governments are seeking to gain some form of control over the cryptocurrency industry to taxations and various forms of regulations.

Cryptocurrency would be the future global currency.

Thats the point! I also gambled because of crypto. what is the problem of the world of gambling currently in the world? Yeah, regulation. it makes it difficult for many people in some countries to gamble using their fiat money because of restrictions, with crypto they can gamble anywhere. crypto will become the future currency for gambling

How can that be? Any casino online or not, crypto or not, have the same opportunity to win because they are all based on luck.


Some online casinos are developing a bad reputation because of this. KYC should be required upon registration and not when you already deposited, made some profits and withdrawing your money. A sudden KYC requirement is bad. It is like they do not want to give your money. Fortunately, not all gambling sites do this. There are online casinos you can gamble without fearing to submit to a KYC.

I really believe that gambling using cryptocurrency has more advantages compared to traditional casinos and the profit here is bigger than those gambling using fiat currencies. But having those positive advantages, there are also disadvantages that starting to appear in the gambling sites today particularly on submitting personal information for KYC. There are really those cases that we need to submit for KYC or else we will not be allowed to gamble.

If we are afraid of exposing our personal details to them, then better to skip those gambling sites that requires KYC. But, it could be hard by now to find those sites that aren't asking for KYC upon registration cause majority of gambling sites by now have to ask it to verify the owner of this account. It is not a big deal for me if that certain site is legit unless if there is something we hide for.

Sometimes you need to do the KYC if you are only a high-roller to that gambling site.
Otherwise, if you are spending below such limits, you don't have to do submit your docs.
Aside from enjoying the anonymity in most online casinos, the convenience of playing with them is one big factor also.
You can play anytime, anywhere at your convenience without bothering anyone.
And the provably fairness is very easy to verify as well. Now, compare it to traditional casinos.

Right.We chose to use cryptos in gambling because our real identities remain to be private and anonymous.But then KYC appears whic really sucks for most of us gamblers though it's for security measures but i still prefer to gamble on casinos that don't require KYC yet.And i think most of us here feel the same way too.

In my opinion gambling and cryptocurrency works well together and it is a pretty big hit in the public that wants privacy and anonymity for themselves to not show their identity And with the help of blockchain technology those records of the transaction is really safe and at the same time fast, The convenient for this kind of platform is best for cryptocurrency, But even though there are positive things that gambling can get with cryptocurrency there are certain negative ones as well and the thing is they are now prominent with these are scammy sites that are frequently appearing every now and then.

Can you tell us what's those gambling sites which require KYC when we want to withdraw our money? So it can prevent us to gamble on there.
I only ever heard some of sites asks you to complete KYC first before you can withdraw huge amount

The thing that really sucks about casinos using KYC is that it is sometimes used as a way to prevent users from withdrawing their winnings. Some casinos don't require KYC to play or deposit funds on their site but then request KYC when you try to withdraw, which is crappy for people trying to gamble with crypto somewhat anonymously. I'd also rather not give my information to a site just to gamble, when that information can potentially be sold off online and used maliciously.

I don’t think I have anything negative to say about cryptocurrency gambling, it has been the best ever and if at all there’s any negative aspect, I believe its minor. Cryptocurrency has given opportunity to all gamblers to gamble anonymously and this is a dream come true for those of us who have been gambling from the days of traditional gambling. It was a wish that came through. I personally desired a time I would gamble without anyone knowing or tagging me since gambling reputation has been tarnished.

Also, cryptocurrency gambling has truly been cheaper, can never be compared to fiat gambling and this has given an opportunity to become a gamer. I think all this is enough advantages or positivity enough for cryptocurrency gambling.

But it is coming out of your Wallet, so no, you would not be unbothered by losses. I do not think the inclusion cryptocurrency and the blockchain changes the dynamics of gambling much.
Losses and possible scams is still down to the websites invloved. Do your research before using a particular gambling site

Both the positive and negative things involved in Crypto gambling If you are using the cryptocurrency as a bet then it will not get out from your pocket it always involved in online things so I cannot worry more about your loss but in sometimes you definitely e no idea about how we can do at the time only it will be go like negative things for us

There's plenty of casinos where you can use cryptocurrency, cuz the affection of the gambling industry with eos and etherum is huuuuuge

That is right, there is a plethora of casinos that allow you to go all digital and use crypto to gamble at them site/casino. You could use Bitcoin, Eth, Dogecoin and many other coins that are accepted by the casinos in question. And the trend to use crypto is very high because people like to stay anonymous and crypto can give you this edge to gambler and stay anonymous in the same time.

You can definitely gamble anonymously with cryptocurrency, ever heard of Zcash or Monero?
If you can get it with an OTC trade, those coins can't be traced back to you if you're doing it right.

Besides, even partial anonymity would already be good enough for most people. Just get your coins from any exchange that doesn't require KYC.

Yes there is literally nothing wrong about crypto gambling. Bitcoin on the other hand has been pretty much used in the industry and I think that we have other options like Doge coin and ETH to use as well. Depends on what options the online casino provides you and so on. In addition, you could also hide your identity and can gamble behind the mask.

I dont think that you are totally private when you use crypto for gambling because a gambling site will still ask for your personal infos upon signing up and your transactions can also be traceable if you use bitcoin , eth or any other cryptos that is not consider as privacy coins . the only benefits that crypto provide is i think its less hassel and you can play online gamble with it .

I think you have created a good thread for discussion in crypto gambling.I think that we are safe in gamblig with crypto as it gives us some benefits over traditional gambling with the main benefit being privacy.

There a lot of projects in gambling with crypto,people are trying because this is the future of gambling so I think we are safe not only in gambling but in many other industries that are embracing bitcoin day by day.

I would like to commend your effort here OP. This is a good source of knowledge especially for the new comers. However, I've noticed that this post is copy-pasted. Though you have included the source, I think there's a much better way of conveying this idea. I think it would be better if you read the original article first then make a thread which includes your own idea and opinion about the topic so that your point of view is also presented. I am not saying that what you did here was wrong. I am only saying that it could be better.

I have also noticed that you're a newbie. Well, I suggest that you read threads on the Beginners and Help section first before diving into boards like Gambling Discussion and other boards so that you will be guided properly. Besides, there are lots of forum members that are very much willing to help out.

I know I am not perfect and also have my flaws and shortcomings here in this forum to give this kind of advice but my intention is to help only and not to offend you. Anyway, you still put a great effort here and good luck for your journey here in this forum.

You are right, but i also have a lot of reasons in my mind about crypto currency popularity in gambling industry, and the main reason, majority gambler want to play without giving their personal information and don't want to show their identity, that's why majority of the gamblers are here in crypto world of these type of gamblers. Otherwise we have discuses a lot of time that crypto currency has a big role on online gambling industry.   

I think bitcointalk only provide us with information and discussion on gambling and not that we can play gambling here. Blockchain is good for gambling because of how flexible it is and we can used blockchain technology to do many things. Gambling industry is growing now online since cryptocurrency and blockchain come into existence. Bitcoin also makes deposits to gambling sites easier, unlike what we have before when some citizens of some country cannot play online casino or gambling because of deposits and withdrawals.

I think after people know cryptocurrency and they are involved in deeply in the cryptocurrency, they will find that cryptocurrency can be used for playing gambling. They will know that gambling in cryptocurrency will give them an easy to use any coins they want, and they have a big option to choose the coins as the bets. They can hide from other people, they can playing gambling without anybody knows, and they can enjoy the games.

Yes when you are in cryptocurrency and you know to use bitcoin you can easily access online gambling here bitcoin talk forum.
No need to go outside and play for gambling just stay athome using bitcoin now can play gambling.
playing just for fun,enjoy and can earn such a big money.

That is about altcoins but when you're talking about bitcoin, there is much business that is BTC-related are still working and staying strong. Some of the altcoin projects and platforms are getting disappeared after getting huge money in ICO. People's money is getting wasted on a scam project and they can't do anything with it.

The market is getting saturated because of the reputation of cryptocurrency, people should learn about the legit and the scam.

Those who have solid foundation will stay but those who are only after for the quick cash will always disappear. You can evaluate a gambling site if they have the intentions to operate long-term or short-term. One way to check is the gambling licenses they possess. If they find time to apply and acquire those licenses, I believe they are not here for couple of months or so but looking for years of operations. A developer can easily make a gambling website but to sustain it is another thing to consider. You can check also the amount of bankroll they have. A lot of them are faking their figures but you will know in time if they are faking the numbers on their site.

This is already happening. The market is getting saturated by those who think gambling is lucrative business. It's more like what happened in ICOs were  lots of people who knew nothing about cryptocurrency nor believed in it launched their own coins and got the market saturated with lots of confusing and substandard projects

Privacy-This is one of the things i do really like about cryptocurrency gambling yet you can hide out your true identity online without being known that you are doing gambling unlike on playing locally or on physical gambling places and this is why this crypto industry being preferred by most gamblers who are hardly concern for their identity.You can gamble without minding too much about privacy.

  I think there are places where it is fully legal to gamble and use crypto as well. In such places, not all out there care about their identities and it leads them to even gamble without KYC. So I think that KYC is not a bad thing but yes it is not good in one aspect and that is that you get your information disclosed which might lead to possible hack of your wallet.

It's a good overall review of the reasons, but I think there are some inconsistencies in the "Why Use Crypto For Gambling?" part. At first, you say that cryptos allow safe and private experience (hiding identity). But then you say that Blockchain allows KYC and AML. Well, surely these things can be enforced with blockchain, but definitely not only with blockchain. And people who enjoy privacy would not call KYC a "benefit". Moreover, basically, KYC just identifies the person. It still does not provide proof that the money the person is using is 'clean'. When suspicions arise, there can be an investigation, but I believe the same happens in official fiat casinos as well, is not it right?

Cryptocurrencies are the best for gambling specially for those who wants to keep it secret ,
And it is way more easier to access it and less effort unlike other gambling platform or casino's .
Fiat casino requires a lot of things before you could enjoy your game but in crypto you just need to know which site to use and deposit some crypto then your good to go,
No more requirements no more hassle on going somewhere to play just sit back and log in on your account to play.

People prefer to gamble in cryptocurrency since it's more convenient and it's easy to access as long as your country is not restricted in online gambling. Not  to mention, people also enjoy being anonymous when gambling since most gambling sites does not require you to pass KYC. There are also different kinds of gambling games to choose from, like dice, crash games, video poker, poker, sports betting  etc.

Great sharing and effort, almos got perfect your article about crypto currency in the gambling industry, people are choosing crypto currency or bitcoin is all about because of the freedom of anonymity and security soeciall those site not requiring KYC to continue protect of identity of the gamblers.

crypto greatly facilitates gambling because they are free to enter the world of gambling without government interference which often restricts someone to gamble or prohibit it, anonymity is very important now and often people do not like to use fiat as a transaction tool because they do not have access to certain banks, very limited to make people sick, the ease of giving in transactions is very good and there are no obstacles about crypto and gambling.

First of all I want to thank you for a helpful post like this. Hopefully this new post will benefit you new users. Here you have highlighted several points which are really very useful. Here are some basic questions to be answered, and these questions remain with almost all new users. Hopefully they will benefit from your post.

I agree with the op, cryptocurrency gambling is here to stay.
There are far too many benefits (many not included in oplist, such as privacy).

Also, those gambling Dapps are much safer for both gamblers and the house.

Cryptocurrencies has really helped gambling industry more than any other industry. I honestly believe that with the way things are going we are going to have all the gambling companies adopting blockchain technology! It is clear that in this forum alone we have over 50 gambling sites been discussed daily here and that means it is most favour.

I like to gamble with crypto because it is much more easier .
I could gamble anytime anywhere because of crypto casinos.
And not just because of it crypto casino also doesn't need some KYC so I could gamble without even giving my real information

Gambling Industry is one of the first to adopt crypto, it contributes the rise of BTC demand.



Its not just about algorithm specially in terms of sport betting. Anonymity is another thing to deal with if regulations are going to require us all to submit KYC. The exchanges are up to it years ago, it won't be long we may not be able to hide from all these anon coins unless the casinos won't be collecting our information as well.

Have you considered on what you are saying? He's not the OP and they are entirely different user.
Talking about the topic, these are already been known reasons or things about Cryptocurrency towards gambling and that's why we are currently seeing how this gambling industry
booms up,

Using crypto for gambling is fine. You just have to make sure not to be against the rules and regulation of the Bitcoin that may check on its whitepaper page. I'm so much afraid the someday, being anonymous as the cryptocurrency gives us would disappear because of the updates for rules and regulations. We can't tell but there is a big chance to really have it.
If you are looking for a different answer and a really personal one. For me, since everything is based on algorithm and gambling sites were made to make profits, then you will not be able to predict when will you win.

One of the main reasons why people use cryptocurrencies for gambling is because they can remain anonymous and they can play even from countries where gambling is restricted. Another advantage of using crypto for gambling is because all deposits and withdrawals are processed in a very short time and most important they work 24/7. Gambling with cryptocurrencies becomes more and more popular every year and I think soon many popular fiat casinos will start using Blockchain technology on their online platforms.

Looks OP took lot of efforts to write this thread. There is lot of reason why gambler like to use crypto currency as a payment of gambling website. The main reason is anonymity, easy and fast transactions. Even gambling legal on few countries but you need to pay TAX. If you use crypto currency like bitcoin then you can save TAX as well. That's the main issue about crypto-currency uses on gambling site in my opinion.

Nope.You are not anonymous with crypto gambling.
Anyway,I like long articles copy pasted from somewhere that tell me what I already know about cryptocurrencies and gambling.
Thank you,OP.

There is only one reasons why Bitcoin/cryptocurrency gambling is a HIT

No one knows you (Anonymous account/transaction)
It is hard for anyone to trace you with you Public wallet address and determine your transaction. Although KYC is a must now days in certain countries but, how they (government) will determine it is an online casino Public wallet address that you are sending your Bitcoins.

There are few more reasons - like lots of Giveaways (what I have been getting from Stake.com) and bonus. Faster deposit and withdrawal and awesome support. These are some of the things that make Gambling more pleasant and fun.
 

Not only because of this, there is another main reason for why to use crypto in gambling: There is about 2 milliards people haven't yet access to bank services and some of them doesn't even have an ID card, and those willing to make some bets are forced to use false identity or use a legit account of another user who will pay when the bet wins (it's a whole hidden industry of those creating accounts in betting platforms using their bank cards then sell bets for other people). When with cryptocurrencies, it becomes more easier for anybody from everywhere to make bets by only having a mobile device and internet connection. This causes the enlargement of the crypto-gambling market with a huge growth potential compared to old gambling site (bet365/planetwin...).

There hardly exists a development online that doesn’t find itself in some way utilized for gambling, and the growth of Bitcoin poker is a testament to that. Of course, this isn’t necessarily a bad thing. Many people enjoy such activities and many take part responsibly. Poker sites, bitcoin or otherwise, are quite popular after all.

Bitcoin and other cryptocurrencies fit well with anything online that involves money, thanks to the benefits of the blockchain. That is why online gambling sites have begun to adopt cryptocurrencies such as Bitcoin as a method of payment. So what is Bitcoin poker all about?


There are a couple of ways in which the worlds of blockchain technology and online poker, along with other betting activities, can work together. While accepting crypto as a payment method for deposit and withdrawal is an obvious application, there is also a thriving ecosystem of gambling apps being developed on the blockchain.

Gambling and betting Dapps are amongst the most popular category of games available on the blockchain. They utilize blockchains like Ethereum, EOS, and Tron as a foundation of Dapp development. In fact, a significant proportion of Dapps built on these platforms are gambling related. This shows that there is a demand for this market.

As for traditional online websites adding Bitcoin compatibility, there does seem to be some uptake.


Of course, many regard cryptocurrencies as safer and more secure since everything is tracked on the blockchain. If for whatever reason, users want to keep their activity private, using Bitcoin or other even more anonymous currencies such as Monero make that much easier to achieve. It is reasons such as these that may help cryptocurrency become the top choice for online casinos.

There are other benefits too. The blockchain allows systems to be put in place such as KTC and AML that will help to ensure funds are sourced legally. Other features such as deposit limits and cool-off periods can be imposed as needed.


Then there is also the logistics of it. Crypto is native to the online world and is meant to be a replacement/improvement to fiat money. This makes their use in online poker websites seem more natural and offers an alternative to other digital payment methods. Of course, Bitcoin isn’t the only crypto that can be used to place bets. A number of currencies are represented, though don’t expect any smaller, lesser-known altcoins to be an option.

Some Dapps, including gambling ones, have a dividend system where users who play on the site are able to earn dividends. This is done through the use of dividend tokens which are distributed to all users, with the amount given out based on the profits of the platform. The more users that play, the higher the dividend, meaning users have a vested interest in the success of the platform to some extent and can be a deciding factor when choosing which website to use.


One of the first questions many people ask when it comes to gambling online is whether or not they are safe. No one wants to fall for a scam and lose their crypto. There are even whole websites dedicated to listing and ranking the trustworthiness on such crypto gaming sites, highlighting the level of distrust people have. When it comes to finding the best Bitcoin poker sites in terms of safety, there are some signs to look out for.


The blockchain itself, with its built-in security features and decentralized design, ensures that transactions are unhackable and verifiable. Transactions are almost instantaneous too. This is likely one of the main reasons why gambling on the blockchain grew to the extent it has.

Websites that rank crypto casino websites can be a good resource – as can reviews. Finding reliable sources for their impressions and actual users can also help determine whether it is legitimate. There is also a movement for transparency that makes websites, like poker sites that accept Bitcoin, fair in a provable way. While it is good to be provided with the market edge information, a more in-depth insight would help provide proof.

For many, the legitimacy of the website will be a big deterrent to signing up and taking part. No one wants to risk losing their crypto, whether due to a security breach, shady practices, or from an outright scam. For now, it is mainly dedicated fans of the genre who are using their Bitcoin for gambling.

A major roadblock in the case of Dapps is that holding crypto is a requirement for creating an account so, even when accounts are able to be created for free, users still need crypto to play. This means that, in order to check a game out, payment information will need to be provided. Giving out payment information is understandably a major deterrent, especially with the fear of phishing or other scams looming around. Ultimately, the best Bitcoin poker websites, in many users’ eyes, are ones that appear safe.


For the most part, this part of the ecosystem looks as though it is here to stay. There is obviously a demand for gambling using crypto and the blockchain has real potential. At the same time, the saturation of the market will lead to some of these sites disappearing, with only those dedicated to the development and growth sticking around. However, the user base is expected to grow further as more users begin to understand and adopt crypto. The convenience and security of cryptocurrencies are factors that have helped grow this area.

Regulations are another consideration, especially seeing as online gambling websites have faced closure in the past. Japan has already implemented restrictions in order to push regulations in this area. Moving forward, these changes in the market will continue to shape its growth. As an already divisive and controversial subject, further regulations are likely to be imposed.

https://blog.kucoin.com/cryptocurrency-in-the-gambling-industry-all-you-need-to-know-about-bitcoin-poker-sk-bt