Topic: Does the changing value of BTC affect your decision to gamble in crypto casinos? (Read 1011 times)

Regardless if you deposit with bitcoin or USDT, the thing there is that, casino's have their market displayed in dollars, even if you deposit and stake in bitcoin or in other acceptable coins on that casino, the value is going to be calibrated in USD and when you want to withdraw your winning from the casino, you must withdraw using the same coin you deposit a d amber with, let say if you deposit bitcoin and vet with bitcoin even if you see dollars display, when you want to withdraw you must still withdraw using you primary currency which is bitcoin at that moment.

So if left for you as a gambler to use your senses to accumulate and calculate what you are betting with and regardless of what the price of bitcoin should be at the moment, I don't think that should be a big problem since at that point, you already have all things in place that will make you remain in steady position.

Whether the market would really be bullish or bearish then as a gambler then it wont matter. You wont really care on whats the current market condition since you've been already have the budget for your gambling
session. Just like on what been mentioned above that on the moment that you do play gambling then it wont really be that in connection about investment on which you wont really be caring about on whats the number of coins and its value that you would really be gonna make use on the time that you do gamble. As for accumulation then we do know that the cheaper or bearish market it could have then the more coins that you will really be able to accumulate on which it will really be that something very basic to know and if you are really that eager to accumulate more then gambling isnt the wisest option.

If you are really that mindful about into investment then you shouldnt really be doing or engaging with gambling at all.Just like on what i had earlier mentioned that gamblers wont really be care on whats the current market condition on where they would really be playing no matter it would be on which it will really be just that a matter of choice when it comes into this aspect because both things are totally different to each
other on which it would be also be needing up with differnt treatment and approach.

Can we say that's because the market is bearish we are not going to gamble, what if the market dips continue if we are in it season, are we not going to gamble again, do we have to wait till the market rises, in my own opinion, there are times in which we might have earned from the crypto market while the market rises, then we may also consider that we have earned through the process and that doesn't stand a reason for us not to gamble, i don't see any reason why we should then stop gambling all because of the market dip in crypto.

Me too.

Regardless of the value of BTC, I'll gamble if I have a lot of money too. It hasn't been mentioned that I'll gamble with other altcoins so, that's why even if there's a fluctuation of BTC's price, I'm still fine.

For most there is.

The gamblers that are using Bitcoin as their main way to do such will surely be affected of it a lot. They'd look at the value of the bitcoin that they have lost and bet for and will come into realization that it had became bigger but then, they've just lost it.

When the market so bearish it is difficult for gamblers to feel confident when gambling with their coins, after all many of us look at them in terms of fiat and this means that if you were used to bet 50 dollars in each one of your sessions, now you will need to use more of your coins in order to achieve this, which is not an attractive proposition, this explains why many people prefer to decrease the rate at which they gamble as they cannot permit themselves to lose so much bitcoin when we know a bull run is getting closer each day.

When the market is bearish then the USD value toward Bitcoins value will really be that much more. This is why instead on spending up on something like in gambling or any other thing then it isnt something that would really be ideal. Therefore, it will really be best that you should make use of fiat or dealing on something like stable coin. Making up some mindful condition about having those
coins isnt something that could really afford on losing them specially you do know on whats the opportunity that it is really that in front of you. This is why it will really be just that recommended
that you should really be wary on the actions that you are taking and not really just that simply trying out to waste your precious coins just for the sake of leisure thing because it will really
be making up some later on regrets specially if you have lost tons of it or a portion.

I can not use Bitcoin to gamble when the market is bearish neither can I use any altcoin that was in my possession when the market is dipping. If I do it will look like I am throwing away the chance of me making a profit from the coin. I would rather keep hodling unto my cryptocurrency and wait for the market to recover before making use of the profits to gamble or do any other things. If I really wants to gamble and I can not hold on then I will have to make use of my fiats for gambling. Most of the crypto casino that I love to make use of allow fiats deposit and not just cryptocurrency. Some people might not be affected buy for someone like me that I love to hoard Bitcoin in any amount that I can buy. I would not want to lose any away. I most times do not gamble with Bitcoin but I can gamble using fiats always.

Even if you are gambling with bitcoin or other crypto, some casinos—in fact, the majority of them—will covert the amount to USDT equivalent immediately you place your bet, so if that happens, you will still see the amount you are risking in each of your bets. 
 
And if the value is not being displayed, don't you think that might make you even spend more than you could have ever budgeted to gamble with that very day since you don't know the worth? Rather, you are using the currency amount to place your bet; to me, it's more risky that way.

Define gamble once?

You mean you gambled only with the money you deposited and you will stop when the funds ran our or you just mention one bet and that's it for the day...

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Of course change in BTC value affects the gambling if the value is considered as huge even 10% can change the perspective but it's not gonna stop anyone from gambling but only they will alter the bet amount according to dollar value.

Gambling has been one of the ways people make money without doing illegal things that is why many countries support their citizens to gamble with caution. One of the disadvantages of gambling is addiction and it is something we need to work on so that we don't have to become a victim after knowing what it takes and the necessary precautions to exercise preventing us from gambling excessively.
Understanding what is right and how to get out from gambling activities is one of the ways we can hinder ourselves getting too quickly to the system while saving the time and finds from future risks.

Yeah that's right the change of BTC be it a decrease or increase in value cannot affect gambling activities, I know for sure such change could be skeptical most times but it doesn't alter any aspect of gambling.
For me i see it as a way of limiting gambling habits, in the sense that when BTC is in the rise and one tend to gamble and lose, they are generating more losses rather than wins, so during such change in crypto it's advisable to gamble with the amount you can afford to lose instead of gambling with a higher BTC rate and get a loss. So it could change some persons decisions to want to double the money to get higher returns but it's best to remain at the lowest.

        -       As long as I have a lot of money, I will not hesitate to gamble because I only gamble once, and I always enjoy it every time I win or lose. I'm still happy, and if I win, it's because I'm lucky if I can leave my limit fund in the casino.

And the extra I will take out, then I will gamble again on the day I can gamble again in the casino; that's the cycle I do most of the time. So the fall in the value of bitcoin has nothing to do with me playing gambling; maybe for you, there is.

If you don't know how much you risking, you could spends big money in gambling. Besides that, you don't know if you can win or you may lose that money which you can recover it easily. But usually for those who often to use Bitcoin will change their currency into stable coin or altcoin.

At least, that is what I did when Bitcoin price is down a lot. But I also trying to stop my gambling activity when the Bitcoin price is down. That can saves me from the losses in gambling and I can go back to casino anytime after the market gets more stable.

But it is better if you don't think about doubling your money in gambling no matter what happen to Bitcoin price. That will make you difficult to stop if you are not yet reach your target.

A true gambler doesn’t really care about the price of Bitcoin. They gamble because they enjoy it. But for those who aren't real gamblers, they'll weigh things out more carefully, and most of the time, they'll quit. And honestly, we can’t blame them for that decision—after all, gambling is a choice, not something you’re forced into. So, if you’re feeling unsure and already thinking about losing big, it’s better to stop now, because in the end, you’re likely to lose anyway.

A gambler has their own mindset—to gamble. On the other hand, an investor’s mindset is to invest and make a profit. Naturally, our actions and decisions are shaped by whatever's going on in our minds.

Normally it does and for every true gambler I assume it should be the same and that should be that when the Bitcoin price increases we should gamble more as we can play longer with the same amount of Bitcoin which in itself has a slight increase in our chances to win. If we played more when the price of Bitcoin is lower we should deposit more Bitcoin and we risk to lose more money overall over a short span of time so we should restrict ourselves to not play when price of Bitcoin is lower and play when it is higher.

it's a good question and the answers can be really very different.
I personally think it's very interesting to use bitcoin or in general other cryptocurrencies to access aspects/services that technically we wouldn't have with FIAT currencies.
So this happens beyond its monetary value.
Its intrinsic ability to process transactions quickly and uncensorably is a big advantage whether it's worth 1 or a billion in FIAT.
It's obvious that if the price is rising quickly you're a little more hesitant to spend it or at least you try to limit your loss as much as possible.
With a potential economic decline, you can try to bet more to recover that value in FIAT.
Very often this is a fatal mistake but as we know there is a lot of psychology in these activities related to gambling.

No, because I'm used to thinking about Bitcoin in its share, and not in how much USD it costs. That's why I'm waiting for a fall and want to buy cheap Bitcoin. Because I know that then it will definitely grow again and update its price highs.

And in general, I think such motivations for going to play in a casino are strange. After all, if someone loses part of the Bitcoins that will grow in price, and then this part returns to its price, then this gambler will have fewer Bitcoins. I hope I made myself clear.

Usually this is what people need to do especially if they don't want to deal with huge fees also they feel not comfortable to use USDT while gambling. Some maybe choose to gamble using USDT its because they have lots of money to spend. They are dealing with huge volumes so they can cover up or ignore those fees taken out to them.

But for small time players for sure that they get bothered when this condition occurs and will settle up to what's convenient to them since they can't afford to pay huge fee just to fulfill their gambling needs.

Some really think about they can replace their used amount if they win, but some fall on what they expect since there expectation didn't happen knowing its risky to rely our profits on gambling since everything has no guarantee with this activities.[

No, it is also the reason why I chose to use crypto or Bitcoin when I am gambling, I don't want to know the current value of my bets so that I could continue to gamble without the pressure of knowing how much I am risking.

That may not just be the reason behind it.

A gambler might play more using Bitcoin with the thought of increasing his vault of the said coin. Accumulating more through gambling. I think I have done this before when I was still doing some faucets. I want to at least double the amount that I have and since Bitcoin is not yet that valuable during that time, I was not hurt by the results especially when losing.
It's not like I can reach the minimum withdrawal too and that is one of the reasons why I would gamble it. If I remember it right 100k satoshis exist and since faucets only give 100 - 500 satoshis per round, it will be suffocating to do it over and over again to reach that quota, and so to make it faster, I gamble. Dice was the only game available on that website.