Topic: Does the changing value of BTC affect your decision to gamble in crypto casinos? - page 5. (Read 994 times)

It can actually but this depend on how volatile the market is sometime. Actually, I don't gamble with Bitcoin that much and not because I don't like it but because of the high fees but it has come down since the mempool isn't always full like when the network is too busy. Usdt is what I have used and fiats but if Bitcoin is too volatile, I will stop it, I will gamble in stable coin and get paid in stablecoin and buy Bitcoin later if I so wish to buy when the price is low.

It can only be beneficial to gamble with Bitcoin when the price is low, more like in Beer market because even the casino are smart, this is the time they also scoop and hide Bitcoin, so they can double the value of my their own stack Bitcoin from the customers because they can make 4-5x of what they collected from customers that has lost their Bitcoin.

And this is exactly the reason why I don't do my gambling with volatile crypto assets, I only gamble with stable coins, this not only removes the fear of what it could be worth in the future when the price rises and I probably have lost it all, but this also helps me to accurately keeps tabs with my gambling progress, like keeping record of all my gambling loss and wins in dollars.

I stopped using bitcoin, or any other crypto assets who's price is volatile; for gambling purposes a long time ego after I lost around 0.05 bitcoin to gambling when this number was still worth around $30 way back 2016 or so, but today, this is over $2000 we are talking about, this is why I decide to only gamble with stable coins.

I don’t think that day to day movements of crypto should really have an effect on any gambler’s view of their bankroll. Maybe if you forgot some BTC on a gambling site for a few years and now it is a massive sum of money, then you might want to withdraw. These moves of 10% here and there really shouldn’t have an effect, in my opinion.

All of us is pretty aware on how Bitcoins price do moves in the first place and if you do find yourself that being affected into its movement then it will really be that making some
effect on the way that you do deal up with something but in speaking about on doing gambling then it would really be impossible that you wont really be able to think up well on how you
would really be playing up on having this kind of impression. If you are really that not liking on wasting up your money in gambling then you wont really be considering on taking up
such action but rather you would really be playing on making use of fiat because you dont really just like on using up Bitcoin because of its changing value. Well we do have our own
choices when it comes into this aspect though.

I don't have to worry much about the way bitcoin is being volatile because as it has the ability of rising, same also appears that you can discover the drop and rise on the market price to be a benefits to you when you are holding your coin on the casino wallet, and i don't think this by any way have to affect our decision for using a particular platform to gamble as long as we are having our gambling account being funded.

Gamblers do have different options for deposits which I don't think all gamblers would be affected by the price of volatile coins like Bitcoin and others that do diminish when the price of Bitcoin eventually falls. I do prefer stable coins for gambling most time so that I don't get hooked at the middle while try to bet and noticing that my bankroll has been severely affected by the price of Bitcoin. Most of the casinos also do have the option of depositing with local currency so that gamblers would have enough options to select from without any restrictions or obstacles when it comes to making deposits.

I deposit more than $10,000 then it will affect the gambling decision because the price fluctuations will greatly affect it if the deposited amount is large but if the amount is small why should it affect the gambling decision? It doesn't matter at all because I don't think the price change will be significant, especially if you deposit under $20.
It's simple really, if it's enough to make you nervous for fear of the price dropping with BTC deposits to casinos then use stablecoin deposits so you won't think anymore about this gambling decision just like gambling with fiat.

Value is a much broader concept than price, so I'd call it changing price, not changing value.
The value of bitcoin grows at a steady pace, but price fluctuates because it's only a representation of value.

Anyway, it doesn't affect my much. I usually focus on saving more in a bear market and spending in a bull market, but prices going up or down by 10% is like nothing to me, as long as we continue to be in a long term bull or bear markets. At this time we're in bull and it doesn't really matter if the price is 55 or 65k, it's still not 30k, so we're in a bullish period.

When you say double your profit when Bitcoin rise again I think you are exaggerating because before you can double your winnings the price of Bitcoin has to first double from its present price meaning let's say the price of Bitcoin is $55k it would need to go to $110k before you can double.

So don't think much of the price just hope you play a good game and win

Yes, Actually when the price of Bitcoin seems to be going though a increasing trend I am less likely to use Satoshis to wager in my favorite casino games, as I am in the expectation of my money to continue to increase, so I would not like to spend it on anything, not even use it as wager in order to roll dices or spin slots. Though, I must say, I would not affect much how I would feel like when comes to sportbetting. If there are some interesting tournaments going on, in which I would like to have a stake in and the Bitcoin price still increases, I am still likely to toss some Satoshis in there and see if luck favours me with my choice on the team.

In general, I have a personal perception people are more likely to gamble using stablecoins and volatile coins when they are suffering from a downtrend un their prices, what traders would call "local bottom".

Where do you believe that when the price of bitcoin fluctuates then there is a chance to get a win on the slot game? is it effective and influences the chances of winning, have you ever won in such a way?

I personally don't care about the increase and decrease of BTC and even alternative coins to gamble or not, I gamble based on myself whether or not I want to gamble at that time, even when the price of BTC has decreased significantly like a few days ago, I prefer to calm down because my assets have decreased rather than gambling and making my emotions disordered.

Yes, I agree. Who really knows how the crypto market will go next.  Im no fortune teller! But to me, playing once in a while, as long as it stays fun and I have control, seems like an okay cope when Im seeing some red in my portfolio.  We all need ways to let off steam in between the highs and lows.  No judgment on how others do it! For now this strategy feels alright for me helps pass the time when my assets dip down.  As always though, keeping things moderate and walking away when needed, thats crucial.

In my case, I stopped using Bitcoin in my bets, and it wasn't because of the price fluctuation, it was because I saw that the transaction fees were a little higher. I've been putting little money into my bets, so even if the price of Bitcoin fell or rose a lot, it wouldn't make much difference to me. For example, I bet $5 on a game with odds of 5.00 ( multibet ) while the price of Bitcoin is at $60,000. If the price of Bitcoin fell to $30,000, I would be left with $2.5, so I would only lose $2.50. It's not a big loss. Now, if I were a big bettor, something like someone who bets $1,000, I would only use USDT. Currently, I only use USDT to place my bets.


Playing when the price of Bitcoin is very low becomes a good advantage when the person manages to hit a large multiplier and wins a lot and then hodls until the price of Bitcoin goes up a lot and converts it to USDT and then that person starts playing with USDT. For example, you play with 0.001 BTC when the price of Bitcoin is at $30,000, then 0.001 = $30, you play at a 10x multiplier and get it right, you end up with 0.01 BTC = $300. Then you hold the 0.01 BTC until the price goes up a lot and you sell at the top. Something like selling at $60,000 and with that your 0.01 BTC would be worth $600, you convert everything to USDT and take out 30 USDT and play. When the price of Bitcoin is very low, I play with Bitcoin because I see an advantage if I win my bets and wait for the price of Bitcoin to rise a lot.

I know that feeling but that can bring really really bad consequences especially playing slots because sometimes the bad luck can be so hard to swallow,lost after lost spin that you risk to fall prey to raging emotions which lead you to play even more.I know that you say yo practice strict responsible gambling but the only thing one cannot be sure is that as a human being we cannot always act great self control when playing gambling and in slot machines this is even more emphasized.

Personally though I prefer to play when the value of Bitcoin is up rather than when it is down as with 0.001 Bitcoin you can have now 60 dollars balance while when Bitcoin is 30.000 dollars that 0.001 is only 30 dollars thus playing less money in FIAT and lowering my chances to win in the long run.

If you are investing in Bitcoin there's not need to use part from it and gamble, instead of using your Bitcoin from your investment to gamble it would be good to use money from your fiat bank account and buy one of the altcoins and deposit into your bet account. While using part of your investment to gamble you will lose more and you won't get any profits from the investment.
Unless you are not using Bitcoin for investment before you can use it to bet. However if you are a real gambler that is always gambling the value of Bitcoin will not be your problem because you have experience worse situation.

I don't really see it as an advantage or disadvantage honestly. If you are gambling and winning big amounts it might matter, but gambling to win an extra $20 that might turn into $25 tomorrow seems like a silly gamble IMO. Making $200 that might be $25000 tomorrow makes it worth it.

You want to make sure you're doing it at a casino that turns your deposited balance into a dollar amount, not 1 that keeps your currency in the crypto you deposited in I think.

If you have been a veteran gambler you should know that not all gambling site uses bitcoin in staking bets it's usually stablecoin  immediately you place your bet and peradventure you're lucky to win you are paid still  in USDT which bitcoin price fluctuations has no nexus with.

For anyone that's gambling for mainly entertainment purpose the price rise and fall of bitcoin plays no role in his gambling schedule. And very a few people uses bitcoin as gambling funds, many do prefer using stablecoin or fiat.

Why should I care about the impact of bitcoin value decree on my gambling ability, this doesn't have anything to do with me because most times when a gamble on cryptocurrency casinos, what I use is USDT which is best for now because of the high fees to transact to a casino, or to withdraw same.

 Ut with USDT all that I need to do is to spend less than $1 to credit my casino account and gamble with it and if and when I win, I withdraw same to my exchange and then convert it to bitcoin if bitcoin is what I want to hold the funds in as an assets.

Bitcoin price fluctuations do not affect my gambling activities, since I use USDT in all my games. It may just be my preference, but I don't really like using Bitcoin in my gambling because I only focus on investing in it, not using it at all in my gambling. So whether the Bitcoin price increases significantly or not at all, it doesn't matter to me and has no effect on my gambling, I still play according to the funds that I have previously allocated.

Gambling with Bitcoin I didn't do. In the crypto casino, the stablecoin that chose to gamble so I was not affected by the decline in Bitcoin prices with a gambling decision.
Bitcoin coins that are quite valuable for me that I regret if I use for gambling. In fact, I did not make Bitcoin as a trade asset but a long -term investment asset.
Fiat and Stablecoin that I made a currency for gambling. If I lose, I don't sacrifice Bitcoin.