Gambling affects greatly the entire market because of the participants in it that most probably supports the use of crypto currencies such as Bitcoin thus, impacts the movement of its supply fast and increases the demand for that certain coin; more demand means a greater standing for the coins available and is used by gamblers online.
When we talk about the physical casinos in the society, they contribute a lot in the income of a certain country from the taxes they get from the casinos.
Topic: Do you have an idea in percentage how big gambling industry's contribution? - page 2. (Read 751 times)
March 17, 2020, 07:37:51 AM
March 17, 2020, 05:00:15 AM
It is difficult to tell what it is the contribution of the gambling industry to this market, I really think that at the beginning gambling was one of the reasons why bitcoin became popular since it allowed you to gamble without the need to go through KYC policies and you could gamble and withdraw your earnings almost immediately, however it is clear that since those times speculating with cryptocurrencies has taken the front seat and the gambling industry is not as influential as it was years ago.
Gambling industry indeed went through great revolution because of the invention of bitcoin and this is why there is increase in the number of online gamblers as compared to offline ones. I believe the demand of bitcoin will further increase because of this late global pandemic which has restricted people to homes. Definitely it's gonna happen but please let us not expect that bitcoin will rise soon as major volume of bitcoin is still under control by the whales, they can manipulate the market that is why there is a pump and dump that is happening. Crypto really gives a major contribution on the growth of the online gambling world, as we can see, some fiat online casinos now are already accepting bitcoin.
March 17, 2020, 02:24:06 AM
It is difficult to tell what it is the contribution of the gambling industry to this market, I really think that at the beginning gambling was one of the reasons why bitcoin became popular since it allowed you to gamble without the need to go through KYC policies and you could gamble and withdraw your earnings almost immediately, however it is clear that since those times speculating with cryptocurrencies has taken the front seat and the gambling industry is not as influential as it was years ago.
Gambling industry indeed went through great revolution because of the invention of bitcoin and this is why there is increase in the number of online gamblers as compared to offline ones. I believe the demand of bitcoin will further increase because of this late global pandemic which has restricted people to homes. March 16, 2020, 11:47:18 AM
I think gambling is the strongest industry behind crypto right now followed by the red lights industry.I think many of the people watching premium porn or gambling don’t like their family to find out in credit cards statement for example and that’s why they will choose crypto for such transactions.This is known to the market but to make that extra step in crypto we need a few industries to join these too.
While its true that a lot of black market uses bitcoins and bitcoin has great popularity among hackers but that is just because a gun can be used for either cause - Safety and crime!Not coming to the gambling topic, basically not just the market contribution but a lot of gamblers are actually introduced to bitcoins and crypto world because of these crypto casinos. I was discussing about gambling among friends and they told me that they don't gamble because of KYC issues and identity thefts. Once I tell them about crypto gambling that does not require any KYC most of them are now gambling with crypto and hence a large part of bitcoiners were earlier only introduced to bitcoins as a gambling currency.
March 15, 2020, 11:45:35 PM
I think the contribution of the gambling industry is more on the tax.
When it came to the tax, I think the tax will be applied to offline gambling because the owner needs to pay that tax. But if that is for the online gambling website, I don't know how the owner will pay that tax. The country which allows gambling will take a big tax for the gambling business so that revenue from the gambling industry can support the economy of the country too. But still, we don't know how big the percentage that the gambling industry contributes to one country because the government is not telling the public.
March 15, 2020, 04:54:09 PM
Actually I would say the gambling industry contributes close to 50% of the market distribution because there are massive giants in market now be it primedice for dice gambling or be it sportsbet that claims to accepts single bets of 100 btc which tells how massive the market has become now.
It's difficult to know what's the exact percentage and the reason you said is not a good basis.
That BTC100 is nothing when it comes to crypto exchanges. There is more circulation of BTC here compare to gambling.
And since we are here in the Gambling section, we might think that crypto-gambling is already big in the whole crypto industry without realizing that maybe it's just a 1/4 of the whole activity on crypto-exchange.
March 15, 2020, 10:46:10 AM
Actually I would say the gambling industry contributes close to 50% of the market distribution because there are massive giants in market now be it primedice for dice gambling or be it sportsbet that claims to accepts single bets of 100 btc which tells how massive the market has become now. I don't think there is any crypto market as big as gambling apart from maybe altcoins which contributes a lot too but in my opinion gambling market is just too massive!
I would love to have a total wager amount combined all currently running dice websites alone and it would be huge I guess. I wish there was some tool to know which section of crypto holds how much market share right now.
I would love to have a total wager amount combined all currently running dice websites alone and it would be huge I guess. I wish there was some tool to know which section of crypto holds how much market share right now.
March 14, 2020, 09:28:23 AM
As what the thread title says, I like to know based on your opinion how big the contribution of the gambling industry to the entire market.
I have been a gambler for awhile now and I believe that with the contribution of our industry, it will only make the market stronger in the long run, and it's one of the reason why adoption is happening at a very good rate IMO.
It must be really big enough to actually pay for all of that campaigns, I mean they do signature campaigns and competitions and other stuff and even have giveaways as well. So, I doubt it was actually that little to begin with. Even from the start when satoshidice was created there was a big number of gambling going on, after that it just got bigger and bigger.I have been a gambler for awhile now and I believe that with the contribution of our industry, it will only make the market stronger in the long run, and it's one of the reason why adoption is happening at a very good rate IMO.
Right now, only exchange business sector must be definitely higher but I doubt there is anything aside from exchanges that are bigger than gambling. These are strictly crypto related stuff basically, exchanges are for cryptos and gambling is basically making it discreet for everyone who doesn't live in a legal zone. So, basically it is the second biggest sector in all of crypto if you ask me but I do not have data that could back that up.
March 14, 2020, 01:54:40 AM
I think the contribution of the gambling industry is more on the tax. I can't think a lot but the other one would be that gambling industry offers more jobs for people, you don't need degree to work at the casino. If we are talking about the whole gambling industry then these two that I mentioned would be applicable but I don't know much about the online gambling industry. I hope they too are paying taxes cause that helps a lot in order to keep the society functioning.
March 13, 2020, 01:33:31 PM
It is difficult to tell what it is the contribution of the gambling industry to this market, I really think that at the beginning gambling was one of the reasons why bitcoin became popular since it allowed you to gamble without the need to go through KYC policies and you could gamble and withdraw your earnings almost immediately, however it is clear that since those times speculating with cryptocurrencies has taken the front seat and the gambling industry is not as influential as it was years ago.
March 02, 2020, 05:36:14 AM
Contribution for the crypto industry and adaptation?
If it is about those two then for my guess about 30-40 percent.
Because other than trading and investment it is one of the biggest reason why people comes to crypto.
If it is about those two then for my guess about 30-40 percent.
Because other than trading and investment it is one of the biggest reason why people comes to crypto.
When bitcoin was still cheap, people are coming here to gamble and we've see before about dice sites becoming popular with huge bets of BTC.
It's a growing crypto industry I guess, that is compose different people with different interest and although there's no figure on how big the gambling industries contribution to crypto or vice versa, it can e assume that it's sure a big one.
March 02, 2020, 05:24:10 AM
Contribution for the crypto industry and adaptation?
If it is about those two then for my guess about 30-40 percent.
Because other than trading and investment it is one of the biggest reason why people comes to crypto.
If it is about those two then for my guess about 30-40 percent.
Because other than trading and investment it is one of the biggest reason why people comes to crypto.
March 02, 2020, 04:01:06 AM
contribution in what means ? there are many kinds of contribution like tax , contribution for people to have an entertainment and to have a profit , and many more . so we should be specific for that .
for the tax , i dont think that most online operated gambling sites have thier contribution but what im most aware is only the offline operated ones . the ones that those have permits and proper licenses . however i dont think that this contribute to the adoption .
for the tax , i dont think that most online operated gambling sites have thier contribution but what im most aware is only the offline operated ones . the ones that those have permits and proper licenses . however i dont think that this contribute to the adoption .
March 01, 2020, 02:18:36 AM
As what the thread title says, I like to know based on your opinion how big the contribution of the gambling industry to the entire market.
I have been a gambler for awhile now and I believe that with the contribution of our industry, it will only make the market stronger in the long run, and it's one of the reason why adoption is happening at a very good rate IMO.
I have been a gambler for awhile now and I believe that with the contribution of our industry, it will only make the market stronger in the long run, and it's one of the reason why adoption is happening at a very good rate IMO.
This wasn't surprising because almost all of the people are intersted in gambling, who doesn't want an instant profit in just betting? As we can see the projects that become successful in this forum are almost about gambling, this is because it has a big network of people that are interested to it unlike those campaigns about agriculture etc. With this we can conclude that gambling industry can bring a lot of people in the market resulting to mass adoption.
March 01, 2020, 02:08:33 AM
In entire crypto market? At least on this forum, we are having more number of gambling campaigns against any other services. But, that does not guarantee that people are converting their fiats for gambling purposes or new people are entering into crypto space for the reason of gambling.
Do you have any track of a famous gambling house started accepting crypto payments in recent times? I mean if we see any such thing then we can assume houses are trying to expand their business by covering crypto people.
In my observation, I do see big number of gamblers online in most gambling sites compared what I have seen some 2 years back. It means more people are gambling than the past years. Also, I have read on this forum that many people had entered into this forum after realizing the benefits of gambling with cryptos like after many bitter experiences with fiat based gambling. It means gambling helps people to adopt cryptos for its own reasons.
In my own perception, I thing the contribution of gambling industry is about 60% because based on my experience it seem many gambler right now is interested and increase even more day by day. Also many players want to enter in gambling world because they want to take the opportunity to win and get earn.Do you have any track of a famous gambling house started accepting crypto payments in recent times? I mean if we see any such thing then we can assume houses are trying to expand their business by covering crypto people.
In my observation, I do see big number of gamblers online in most gambling sites compared what I have seen some 2 years back. It means more people are gambling than the past years. Also, I have read on this forum that many people had entered into this forum after realizing the benefits of gambling with cryptos like after many bitter experiences with fiat based gambling. It means gambling helps people to adopt cryptos for its own reasons.
Not sure it's up to 60%, unless you are including cryptocurrency trading as part of gambling. The biggest contributors is most likely trading... lot of big money flow to that area. I believe when crypto is properly decentralized, lots of other things will add to the contribution. Contributions from typical/risky gambling would be less than others of things are handled properly within decentralized communities.
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March 01, 2020, 01:26:42 AM
In entire crypto market? At least on this forum, we are having more number of gambling campaigns against any other services. But, that does not guarantee that people are converting their fiats for gambling purposes or new people are entering into crypto space for the reason of gambling.
In my opinion, it's the other way round. Since payout are been made in cryptocurrency and the gamblers most definitely will want to cashout to fiat which automatically means they'll have to sell their cryptocurrency in the market which affect the market in regards to price movement of coin. It means they (the gambling site) could be assume to have a negative effect on the market.
On the order hand if more gamblers are picking interest then they're definitely contributing positively. It all depends on how effective they're, since they provide a utility purpose for most cryptocurrency that ordinary won't have had any use except been tradable.
March 01, 2020, 01:02:29 AM
I'm not sure at what percentages for this because there is no exact data to prove it but maybe it was approximately less than 50% but admitted or not online gambling industry indirectly has been introduce cryptocurrency to some people although their crypto assets only used for gambling but it slightly influence the entire market although not significant and not impossible someday for the people will change their habit from crypto gamblers became an crypto users or bag holders for crypto
February 29, 2020, 11:30:56 PM
In entire crypto market? At least on this forum, we are having more number of gambling campaigns against any other services. But, that does not guarantee that people are converting their fiats for gambling purposes or new people are entering into crypto space for the reason of gambling.
Do you have any track of a famous gambling house started accepting crypto payments in recent times? I mean if we see any such thing then we can assume houses are trying to expand their business by covering crypto people.
In my observation, I do see big number of gamblers online in most gambling sites compared what I have seen some 2 years back. It means more people are gambling than the past years. Also, I have read on this forum that many people had entered into this forum after realizing the benefits of gambling with cryptos like after many bitter experiences with fiat based gambling. It means gambling helps people to adopt cryptos for its own reasons.
In my own perception, I thing the contribution of gambling industry is about 60% because based on my experience it seem many gambler right now is interested and increase even more day by day. Also many players want to enter in gambling world because they want to take the opportunity to win and get earn.Do you have any track of a famous gambling house started accepting crypto payments in recent times? I mean if we see any such thing then we can assume houses are trying to expand their business by covering crypto people.
In my observation, I do see big number of gamblers online in most gambling sites compared what I have seen some 2 years back. It means more people are gambling than the past years. Also, I have read on this forum that many people had entered into this forum after realizing the benefits of gambling with cryptos like after many bitter experiences with fiat based gambling. It means gambling helps people to adopt cryptos for its own reasons.
February 29, 2020, 09:23:43 PM
It is difficult if we want to say about the percentage because we don't know for sure. But we can say that the gambling industry gives a big contribution to introduce cryptocurrency to people out there. We know that people like to playing gambling, and when they know the crypto gambling industry from many advertisements, they will be curious and want to know how to use cryptocurrency.
It is a trigger for the crypto to be known in public, and many people are trying to learn about crypto. I am sure after they know about gambling, they are curious about what the crypto can give to them, and that can attract them to learn deeper inside the crypto.
It is a trigger for the crypto to be known in public, and many people are trying to learn about crypto. I am sure after they know about gambling, they are curious about what the crypto can give to them, and that can attract them to learn deeper inside the crypto.
February 29, 2020, 08:50:55 PM
For crypto gambling, I think it is hard to evaluate how much is the real figure as there are a lot of them that don't have license.
And also, are they really disclosing their actual earnings. It is easy not to give the real numbers if you are in online gambling.
Offline casinos have problem with that already, how much more in online gambling?
So I think no one can really determine the exact percentages here, but definitely online gambling is growing everyday.
And also, are they really disclosing their actual earnings. It is easy not to give the real numbers if you are in online gambling.
Offline casinos have problem with that already, how much more in online gambling?
So I think no one can really determine the exact percentages here, but definitely online gambling is growing everyday.
Online Crypto gambling is the new gambling casinos, because it carters to everybody and they have a very wide reached compared to gambling casinos, and both have a huge market and a very huge revenues, it's one of the billion dollar industry that keeps making a profit day in day out.
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