Topic: Do you use bitcoin when gambling? - page 4. (Read 720 times)

      -   I haven't tried to use Bitcoin as a match for gambling, and at this time, it doesn't seem to be recommendable in my opinion. Because this is the period of Bitcoin accumulation due to the upcoming halving and also the bull run in 2024–2025.

The only thing I always use is USDT stable coins, and sometimes I also use Dogecoin to use for gambling. That's why not all crypto gambling has dogecoin choices to match.

Bitcoin is also very popular and many people bet with Bitcoin on various casino platforms. But I haven't deposited much bitcoins for gambling so far before I deposited like $30 bitcoins in my account. But most of the time I used USDT to gamble and deposited them into my account which is easiest. Again, there are some gambling sites in my country that support the local currency of my country, so I deposited my real money there. But I think it's best to bet them by depositing cryptos rather than asking for everything and it seems much easier to me. And that's why I think betting with crypto currency is my favorite, many people like this move and many people don't. But there are many people who don't bet with Bitcoin but instead deposit money there by credit card denominated in local currency of their country. And bet with that money but it's a matter of personal preference, it's probably the most people nowadays who use credit cards or various payment methods to deposit and bet on gambling.

Since it's a Bitcoin forum and every casinos being promoted here are crypto ones, it's likely most people here use Bitcoin to gamble. If people had interest for gambling in fiat currency, they would probably seek for another category of casinos which doesn't belong on this forum. It would be really strange and contradictory if the public of the largest Bitcoin forum of the internet was using fiat or even stablecoins to bet, instead of BTC currency.

Bitcoin makes gambling much more convenient, accessible and practical. You don't have to deal with the bureaucracy of local regulators and banking services in order to make your transactions to or from a virtual casino. You exclude a worthless middleman from the situation. It's so good that Bitcoin gambling is a growing industry for more than a decade already.

I'm a hodler so I kept all the sats that I could get hold of, especially now that we are entering the Bullrun, I prefer stable coins and Tron when playing because the fee is very cheap and fast to confirm when it comes to using cryptocurrency on casinos small investors are likely to use altcoins because they are hodlers compare to big investors and gamblers who can take the risk of using Bitcoin when playing in casinos.
I might use Bitcoin when the market stabilizes but if the bull run is coming altcoin is my preference.

Each option has its own advantage and disadvantages. I will share my opinion on the three and my preferred type.
Bitcoin is of course, is one of the best type of ways to fund betting platforms, I like it because it's easy to have more bitcoin, and times like this, it will sweat to leave your money in bitcoin because it's seems the market is gaining some momentum. If you have $20 for instance, when bitcoin moves up, u will certainly make more dollars and you don't need to worry about any KYC of sort and fair privacy to some extent. Though, it's difficult to make deposit now through bitcoin because of the fees is discouraging.

Fiat is also good but you don't have any privacy, when you transfer, the banks know the destination of your deposit and withdrawals but the fees are less significant. Another red flag of fait platforms is KYC is a most, you have to do it because of regulations. However, somehow I don't know how sporty don't ask for KYC, they asked for email and mobile number and you are good to go to and you can withdraw your fiat at any time without KYC but your name must match the destination account number you are making withdrawals too, I'm not sure maybe it was because they are license in the country.

Bitcoin is to the best especially for outside casino but the fee is not friendly right now. Using $20 as fee for deposit and more for withdrawal will be insane for me to do but alternatively, I may use USDT tron to avoid fees if there is urgent need for deposit.

Most of the times I deposit BTC and so I continue gambling with it. I also use stable coins like TRX for gambling.
The tx fee is less and since the price is low it gives a sense of feeling that we are playing with more money since the number of coins are more.

Yes, i completely agree with you, USDT is always the best choice for me as well when it comes to gambling, and it also offers one of the cheapest withdrawal fees, most especially when withdrawing from binance exchange to whatever casino, on binance smart chain network, the fee is around $0.2 cents, one of the cheapest compared to bitcoin withdrawal that could cost up to $2 when withdrawing from a personal wallet, and could cost even much more when withdrawing from an exchange, this is if we disregard the current mempool congestion that have cause the fees to skyrocket above what not very many can afford to pay.

And even outside of the fees, using stable coins like the usdt for all gambling activities makes keep track of your gambling profit and loses very easy, unlike in bitcoin where the price is not stable, one could loss $1 in bitcoin today, but by tomorrow, that loss must have become $2 if and when the price of bitcoin rises.

Used to use BTC, switched to better and cheaper alternatives in terms of fees. Most crypto casinos service most altcoins that are generally used nowadays anyway even if they were new. I also use fiat sometimes, not really that particular when it comes to where my funds come from. It also doesn't help that I've pretty much set up my crypto wallet to have said coins instead of Bitcoin, that wallet is mostly tucked away in my hardware wallet never to be touched for quite a while really.

Even before the fee is this high I always feel somehow using Bitcoin to gamble, I think I like using stable coin to gamble more because I will know how much I am risking on a game, I don't want to use calculating worth of Sats and few online casinos don't show value in dollars too.

If you are making money in Bitcoin and you are also a gambler it will be difficult for you to keep using Bitcoin to gamble, because you understand the worth of Bitcoin, instead of storing your Bitcoin for long term hold you are risking it and losing it, so it's possible to feel bad about this.

But you have a choice to avoid Bitcoin when gambling, there are many options like LTC or USDT, most new and old online casinos are now accepting different type of payment options on their platform, it makes things easier for all gamblers.

Although I know that Bitcoin volatility is what makes it stand out but I think I prefer gambling with more stable coins to avoid so many things like fluctuation of funds and the rest. Just imagine the case with the price  fee of Bitcoin now, you would send alot and be charge alot of money to actually deposit in your betting account and the worse part of it is that even the gamble you want to gamble there is no certainty to if would actually win the bet you want to place.

It doesn't matter what currency you use when gambling because I think almost everyone considers their winnings or losses in terms of dollars.  I also give more priority to stablecoins and often use TRX because it is very fast to deposit and withdraw. Sometimes I also use bitcoins when I have bitcoins in my personal wallet.  But when I deposit from an exchange to a gambling site, I use TRX or Stubble Coin to avoid high withdrawal fees and have a quick deposit success.

I use USDT on my gambling account, because that's what I find more convenient to use compared to using Bitcoin or FIAT. Bitcoin is clear I hold onto it and will not use it for light things like gambling, payments, etc. And for FIAT, I don't use it because of privacy and security concerns. Yes, even though the casino platform in question says that their payment route is secure, I still don't really believe in putting my debit card number when making a deposit and usually the WD process takes a long time, so USDT is still my best choice.

I rarely bet with cash as that would be a mistake from my side but whenever I have some crypto to spare ( BTC , LTC , TRX , ETC ) I do bet using them. Also , most of the crypto gambling sites also accept cash to bet so pretty much they merged together the cash option + crypto option and now , a lot of people who used cash to bet , moved to crypto and vice-versa. For the bookies it's a big win for sure and I won't be surprised of our local bookies from our countries will follow this model soon.

not sure and depends on my wishes but more often than not I always use BTC because you know most gamblers use salaries from campaigns and I also do the same thing betting using BTC from campaign results but sometimes when my budget runs out and I see the football team that will compete usually I use stable coins to avoid huge fees on BTC.

from what I've read here, almost the majority of people here gamble using stable coins for the same reason as not to waste too much just to pay transaction fees.

I can't actually remember when last i deposited bitcoin on a gambling casino and used it to gamble, and this is because most of the bitcoins i hold are for investment purposes not for gambling, i am saving in bitcoin most especially now that we are approaching a bull run which many of us are speculating will be coming towards the ending of 2024 and the beginning of 2025.

For all my gambling activities, i prefer to use other altcoins in the likes of shib, trx, doge coin, and so on, and whenever i feel like making use of something stable, i make use of usdt, when i decide to play on a local casino, i make my deposit and withdrawal in our local currency.

Bitcoin is longer for gambling, those gambling with bitcoin i supposed are those who earn bitcoin from their signature ad campaign and dont want to convert to other coins, for me, i take the time to convert some of my bitcoin to other altcoin before depositing the altcoin back to the casino, if i want to gamble, i stopped gambling using bitcoin a long time ago.

Bitcoin is quite a convenient means for mutual settlements in casinos, especially if ordinary fiat is not accepted there. Personally, I occasionally use bitcoin when betting at casinos. btC is quite simple and easy to use

My take on this, it depends on which currency is available at the time that you want to gamble.
Most gamblers chose the alts based from the poll here, maybe owed to cheaper transactions over btc.
Especially these days where it needs higher fees. But for some, they will still use fiat as they are using their credit/debit cards.

When you gamble with bitcoin the value of bitcoin can change fast. This might affect how much you win. Your bet might be worth more or less when you cash out. Making the gambling more unpredictable. So it's good to think about these changes when using Bitcoin for betting. Using fiat for gambling is better because its value doesn't change fast like Bitcoin, making it easier to predict how much you might win or lose when betting.

It is exactly in these cases that I have other coins which I mine like Ethereum Classic and Zilliqa which I convert to Litecoin as the fees in Litecoin are always the best to use from what I have seen.I do not recommend depositing with Bitcoin right now as a 13 dollars deposit for example needs about 2.83 dollars as fee in order to have it included in 25 Blocks and if you want it faster then that 2.83 dollars goes up much further so not recommended at all during such time to deposit and play with Bitcoin,it is against the player,you,in the first place.Personally I like super cheap fees like those of Litecoin.

It would be better to have more responses in the survey because personally use all 3 options (with certain proportions). Based on the site/event to bet on, I decide what is best to use... there is no a "fixed choice" also because certain market or certain platform can/can't accept FIAT/crypto/btc etc...