Fiat-betting to crypto+betting - page 3.

mardaed

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Quote from: Beparanf on October 30, 2021, 05:53:17 AM

Quote from: timerland on October 29, 2021, 06:59:01 PM

I literally don't see a way that crypto gambling isn't the way forward.

The fact of the matter is that fiat sportsbooks have gained a reputation of being slow and having notorious KYC procedures that bar you from betting efficiently.

Crypto betting solves all of this and is much more user friendly.

Of course this assumption is based on the country that you are pertaining. Many country are too strict on online gambling especially on crypto casino since it is not regulated at all or there license is very limited. In my country, If you are caught that your money is came from an online casino, Your account will freeze as well as your funds since you are neglecting AML policy. Crypto is very convenient but there's also a limitations I when it comes to legality.

That is right. In some countries, like in the Philippines, there are online wallets that are very strict and thorough when it comes to checking the sources of the funds that comes in and out of the users’ accounts. And just what was stated, they will then freeze the account. Crypto may be convenient and more ideal, but in real life practice with consideration of rules and legalities, it is not feasible for all.

Beparanf

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Quote from: timerland on October 29, 2021, 06:59:01 PM

I literally don't see a way that crypto gambling isn't the way forward.

The fact of the matter is that fiat sportsbooks have gained a reputation of being slow and having notorious KYC procedures that bar you from betting efficiently.

Crypto betting solves all of this and is much more user friendly.

Of course this assumption is based on the country that you are pertaining. Many country are too strict on online gambling especially on crypto casino since it is not regulated at all or there license is very limited. In my country, If you are caught that your money is came from an online casino, Your account will freeze as well as your funds since you are neglecting AML policy. Crypto is very convenient but there's also a limitations I when it comes to legality.

dothebeats

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From where I'm at, fiat betting is still a thing, though of course these are done on closed doors and are almost secret to everyone not unless you're one of the regulars, or you know someone from the said betting circle. They are still being patronized by many, and are a regular go-to for people around here when they want to bet on something. Give it time before they figure out that online betting with crypto is far better than the ones that they have right now. Then again, it's really hard to deviate from decades-old bookies around here that already cemented its legacy as a household name when it comes to sports betting.

Pmalek

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Quote from: Bushdark on October 25, 2021, 12:25:42 PM

like money gramme, PayPal, Wester Union and so many more.

It's MoneyGram and Western Union, not "money gramme" and "Wester Union."

Quote from: Bushdark on October 25, 2021, 12:25:42 PM

Gone are those days where you will have to queue in a betting shop to play bets(sport bet mostly)

I agree. Although, those days were gone already when fiat-based online casinos and sportsbooks became popular. Crypto platforms only took it up a notch.

Quote from: Bushdark on October 25, 2021, 12:25:42 PM

Gone are those days where online betting is limited.

Crypto casinos still have restrictions for certain countries, so it's still limited. Not only that, but gaming providers present their own kind of restrictions on who can play their games and who can't. If you are from the USA, UK, North Korea, Iraq, Syria, and several other countries, you would know what I am talking about.

Quote from: Bushdark on October 25, 2021, 12:25:42 PM

Gone are those days when gambling is for the rich.

The rich stay away from gambling (unless they are addicted). Your average gambler is not rich, far from it. He is a guy with a family and a bag of problems looking to solve most of them by gambling. Most of the time he ends up creating even more.

molsewid

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Quote from: CDC AP on October 29, 2021, 02:03:02 PM

Well crypto gambling has the advantage that you dont need to use your bank account again and again to transfer money which we dont want to do when we are gambling specially in my country, as banks may ask what are you doing with so many transactions, so this is the advantage i feel, you can keep all your winning online in wallet and can withdraw according to your needs.

That's the good thing by using cryptocurrency in any gambling related activities because of it's characteristics as being decentralized there's no reason for a gambler to worried about being monitored on the movement of his asset. The bank will monitor the movement of your bank accounts whenever they see that a certain bank account has something not normal movement in his account. But for me I would like to use fiat in gambling instead of crypto because fiat has a fixed price.

timerland

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I literally don't see a way that crypto gambling isn't the way forward.

The fact of the matter is that fiat sportsbooks have gained a reputation of being slow and having notorious KYC procedures that bar you from betting efficiently.

Crypto betting solves all of this and is much more user friendly.

johhnyUA

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Crypto for the Crypto Throne!

Quote from: CDC AP on October 29, 2021, 02:03:02 PM

Well crypto gambling has the advantage that you dont need to use your bank account again and again to transfer money which we dont want to do when we are gambling specially in my country, as banks may ask what are you doing with so many transactions, so this is the advantage i feel, you can keep all your winning online in wallet and can withdraw according to your needs.

There is no problem with bank, at least in my country. But again, such things are differ from country to country, here i can agree.
But many books have their own wallet (fiat) and you can withdraw only one time per month (or even less often) or something like that. Not a big problem i think.

chaser15

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Quote from: Mahanton on October 29, 2021, 02:30:19 PM

Quote from: CDC AP on October 29, 2021, 02:03:02 PM

Quote from: johhnyUA on October 29, 2021, 12:51:48 PM

Quote from: Bushdark on October 25, 2021, 12:25:42 PM

What advantage does the crypto betting has over Fait betting?

The only advantage is the true essence of crypto: It's borderless and can't be controlled. So you can bet from anywhere without being afraid to lost your money.

But it has some disadvantages too, of course: with crypto betting is much more easier for books to block you and steal your money.

Well crypto gambling has the advantage that you dont need to use your bank account again and again to transfer money which we dont want to do when we are gambling specially in my country, as banks may ask what are you doing with so many transactions, so this is the advantage i feel, you can keep all your winning online in wallet and can withdraw according to your needs.

Banks are really that keen when it comes to transactions made out of their clients and if they do find out some suspicious transactions or totally had violated up their terms and conditions then they do have the full rights on what are the things should be done which is mostly trying to block you out on using up your card when it comes on playing gambling which is totally opposite when you do make use of crypto which you could make out deposits
and play all you want without the worry of being locked or traced or something like that.

I don't side with the bank but that account blocking also has an advantage. What if your account got hacked and it was used without your consent and authorization? Banks are against fraud that's why it's also a good help that sometimes they will block the transactions right away.

We don't need to compare them. It's just that we need to open our eyes to other real facts and not just because we love crypto over fiat.

maju69

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Quote from: Zilon on October 27, 2021, 01:26:58 PM

Crypto betting has come to solve the issues and limitations we had while gambling with fiat. We had issues like currency conversion mostly for international gambling sites, issues of KYC verification before withdrawal and deposit, issues of government regulation on gambling. Crypto gambling brought a new era to the gambling sector.

Indeed, crypto bets have a significant advantage over fiat bets which will only complicate the method from the beginning of registration which will access all account data. Because it is quite vulnerable and private, with crypto betting we don't have to worry about privacy while the online casinos we visit do not require to meet KYC requirements when making withdrawals.

Because not a few are still casinos that provide crypto bets but also implement a KYC system that opens up one's privacy. What's more, the advantage of crypto betting is that the process doesn't take long after confirmation. Especially with p2p payments without the need for confirmation like when using fiat bets.

Mahanton

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Quote from: CDC AP on October 29, 2021, 02:03:02 PM

Quote from: johhnyUA on October 29, 2021, 12:51:48 PM

Quote from: Bushdark on October 25, 2021, 12:25:42 PM

What advantage does the crypto betting has over Fait betting?

The only advantage is the true essence of crypto: It's borderless and can't be controlled. So you can bet from anywhere without being afraid to lost your money.

But it has some disadvantages too, of course: with crypto betting is much more easier for books to block you and steal your money.

Well crypto gambling has the advantage that you dont need to use your bank account again and again to transfer money which we dont want to do when we are gambling specially in my country, as banks may ask what are you doing with so many transactions, so this is the advantage i feel, you can keep all your winning online in wallet and can withdraw according to your needs.

Banks are really that keen when it comes to transactions made out of their clients and if they do find out some suspicious transactions or totally had violated up their terms and conditions then they do have the full rights on what are the things should be done which is mostly trying to block you out on using up your card when it comes on playing gambling which is totally opposite when you do make use of crypto which you could make out deposits
and play all you want without the worry of being locked or traced or something like that.

CDC AP

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Quote from: johhnyUA on October 29, 2021, 12:51:48 PM

Quote from: Bushdark on October 25, 2021, 12:25:42 PM

What advantage does the crypto betting has over Fait betting?

The only advantage is the true essence of crypto: It's borderless and can't be controlled. So you can bet from anywhere without being afraid to lost your money.

But it has some disadvantages too, of course: with crypto betting is much more easier for books to block you and steal your money.

Well crypto gambling has the advantage that you dont need to use your bank account again and again to transfer money which we dont want to do when we are gambling specially in my country, as banks may ask what are you doing with so many transactions, so this is the advantage i feel, you can keep all your winning online in wallet and can withdraw according to your needs.

herurist

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Quote from: dunfida on October 28, 2021, 04:45:38 PM

Quote from: Lucasgabd on October 28, 2021, 04:33:58 PM

of course 5 makes sense.
Depending on the country you live betting may be forbidden or some games may not be available
if you include varietis of betting (like elections, as an example) there's even more possibilities
One could be able to bet on the outcome of US elections even if they live in France, Japan or South Africa.

There might be some restrictions that could be seen on other countries but doesnt mean that the market isnt really open on almost everything.

Betting on other events on other countries which is indeed possible due to accessibility of those services/platforms which are providing for people
to be able to make out some bets which is the real beauty of things.

About choosing whether crypto or fiat then it will vary on your needs but you could really notice which one is really better
in terms of anonymity and easy access. Wink

Policy is one thing that is very difficult to destroy, when the decisions and policies of a country have been made then we can't do anything.
but it's true it depends on which country we live in,
but on the other hand this is a good thing actually because we can do it both in fiat and crypo
and this is up to the perpetrator whether he wants to use fiat or crypto

passwordnow

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Quote from: harizen on October 28, 2021, 08:35:47 PM

Quote from: passwordnow on October 28, 2021, 06:48:59 PM

I agree, in many fiat bookies, you'll be required to comply but with crypto casinos, not all of them will force you to do as long as there's no suspicious activity on your account and they don't really ask for it.

KYC is mandated on fiat sportsbooks because those bookies are registered and licensed companies. In case of fraud, users are somehow protected and investigation might result in success because of transaction tracking.

In crypto, it's definitely a great advantage that we don't need to comply with KYC but unfortunately, there's a chance that most crypto gambling sites will now require it as centralization in crypto is now slowly taking place. For now, let's take advantage that we are not in that stage yet. But in case it's now happening, it should be expected.

Hopefully that it would take a long time before all of them enforce it. While we're enjoying this perk, there are still some cases that are different from the usual.
Being asked to do so and they won't comply because they stand to what they think is applicable to them. But they have to understand that there are policies being made and they have to adopt what are the house rules by the casino they're playing.

johhnyUA

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Crypto for the Crypto Throne!

Quote from: Bushdark on October 25, 2021, 12:25:42 PM

What advantage does the crypto betting has over Fait betting?

The only advantage is the true essence of crypto: It's borderless and can't be controlled. So you can bet from anywhere without being afraid to lost your money.

But it has some disadvantages too, of course: with crypto betting is much more easier for books to block you and steal your money.

iv4n

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Quote from: freedomgo on October 29, 2021, 09:16:50 AM

Casinos would want to give the best experience to their gamblers, so they will not make a strict regulation that will only result in losing their customers, it's always the government or the regulators who makes the policy especially if the casino is licensed. So as a gambler, we have no choice but to follow the rules, or we won't gamble at all.

Or we can rely on decentralized crypto platforms, so we can count there will always be some good crypto casino that is not regulated by some country laws. At least that would be the best thing for us, I don't plan to move to fiat casinos, offline or online... and I will skip that KYC whenever I can, especially when it's about gambling!

When some crypto casinos reach their top in crypto, probably the only way to expand more is through getting a license and aiming for a wider audience. Some crypto casinos already have their advertisements in some sports clubs, and in order to do that they need to follow some regulations, and that will affect the players of that casino! So when that regulations start to affect us we can choose to move to some other place!

freedomgo

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Quote from: Findingnemo on October 29, 2021, 05:19:09 AM

Quote from: Bushdark on October 26, 2021, 12:16:30 PM

@Findingnemo: Fiat and crypto may work hand to hand but soon everything will change for good.

Well, Central banks are not going to let these things happen easily, already they are trying to regulate cryptos and many restrictions were imposed on casinos due to the easy access for them by the people not exchanges and casinos are imposing the KYC for obvious reasons.

Casinos would want to give the best experience to their gamblers, so they will not make a strict regulation that will only result in losing their customers, it's always the government or the regulators who makes the policy especially if the casino is licensed. So as a gambler, we have no choice but to follow the rules, or we won't gamble at all.

Lucasgabd

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Quote from: passwordnow on October 28, 2021, 06:48:59 PM

Quote from: alegotardo on October 27, 2021, 09:14:21 PM

In my point of view, the main advantage was the variety of options that emerged.
Today it is possible to place bets from anywhere in bookmakers that are also anywhere in the world.
Of course, the crypto bets we have today may not be as secure as they once were, as they lack many regulations, but with so many good options out there, it is possible to greatly limit the risks.

This is true although before cryptocurrencies emerged, the online fiat bookies were already in existence and everyone can do with just a few clicks or taps away just like what you're saying. But today, it's easier because of the quick adoption and variety of cryptocurrencies that we're free to choose from as long as it's supported by the bookie where we're playing at.

Quote from: alegotardo on October 27, 2021, 09:14:21 PM

Privacy is also another important factor that came up with crypto betting.

I agree, in many fiat bookies, you'll be required to comply but with crypto casinos, not all of them will force you to do as long as there's no suspicious activity on your account and they don't really ask for it.

can be true but do you see the huge difference between betting with fiat-based methods like credit-card or betting with crypto?
you can change the 'betting' term for any other financial service

as an example, in Brasil all the international transactions on credit card receive a tax called IOF that is 6.38% of total.

you understand my point?

AicecreaME

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Quote from: hahay on October 29, 2021, 04:50:35 AM

To be honest online betting will still be more profitable using fiat because of the low transaction fees, but using fiat comes with risks where it is difficult for me to remain anonymous. So for that reason, I will continue to use crypto to gamble online and the two are not much different because the most important thing is that gambling is an entertaining game and can provide benefits if we are lucky.

They have their own disadvantages.

If you'll use fiat in online betting, it might have smaller fee but the profits in the long run is so smaller than when you have cryptocurrency, also the anonymity part. In cryptocurrency, with the large fee compare to fiat, however profits is huge in the long run (if you always win), the ugly part however is you could also lose a huge amount of money in the long run because of its volatility.

Online betting using cryptocurrency is much better for me because of its privacy and the long term effect. It's a high risk high reward kind of scenario.

Findingnemo

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Quote from: Bushdark on October 26, 2021, 12:16:30 PM

@Findingnemo: Fiat and crypto may work hand to hand but soon everything will change for good.

Well, Central banks are not going to let these things happen easily, already they are trying to regulate cryptos and many restrictions were imposed on casinos due to the easy access for them by the people not exchanges and casinos are imposing the KYC for obvious reasons.

hahay

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To be honest online betting will still be more profitable using fiat because of the low transaction fees, but using fiat comes with risks where it is difficult for me to remain anonymous. So for that reason, I will continue to use crypto to gamble online and the two are not much different because the most important thing is that gambling is an entertaining game and can provide benefits if we are lucky.

Topic: Fiat-betting to crypto+betting - page 3. (Read 866 times)