Topic: Fiat-betting to crypto+betting - page 5. (Read 869 times)

Adding up;

-You could play whenever you do like since you can access it through online.
-No need of credit/debit cards
-No need for personal information
-You can play with small amounts
-Anonymous

You could really tell the difference if you do tend to experience both.

like satoshi said: new territory of freedom  
not sure if he envisioned ALL the applications that would be able to use this territory, but maybe...
gambling included, be it good or bad

Crypto betting is better compared to fiat-betting for these reasons -

- You don't have to pay taxes on your deposits and withdrawals on a crypto casino.
- You have faster deposits and withdrawals
- Significantly less house edge compared to fiat-based betting, People have been telling me they're betting in a casino that charges them with 20% house edge and I say it's crazy.

When this market had existed then all of things had been changed on which those centralized and some factors that do block a certain individual because of such factors which would really be that a big problem or would prohibit you out on playing because not all does have credit/debit card which means its really
a hard part on doing so. When crypto had existed then it did really solve of of those problem in related to this manner.

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.

it's interesting because apart of our personal opinions on that KYC is useless, it hurts more than helps.
but of course the ones that makes these rules doens't seem to care, or don't even think about the second order effects on their decisions.

Indeed. The government seems to want to know who the player is and trying to ask KYC to the casino and maybe that is why the casino is trying to apply KYC to their members. But hopefully, there is still a crypto betting that does not require KYC to its members, especially if the crypto betting site is hosted in the country that allows gambling. So we have our options to select which crypto betting site we will use to gamble and always avoid playing in the crypto gambling site that requires KYC.

I think the big advantage is you don't need to go out and be safe at playing at your own home.
You can play slots, dice, blackjack and even poker with just the minimum use of a bluff and still have fun. Cryptocurrencies + pandemic is a good combination and it's like everything is written for it to happen. I am not saying I am happy the pandemic came but it did open up a lot of eyes into how they can make their lives easier by using other means such as cryptocurrencies for paying bills and gambling in this case.
As of now, I keep a bit of stablecoins which I don't do before just because it's the faster way to transact and widely accepted.

Online betting has become more popular and played all over the world. It made the lives of those people who want to play easier because they can bet whenever they want to, wherever they are. It's more convenient to use and it adds on the entertainment aspect of most people, especially right now that we are in the middle of a pandemic.

I agree to most of what you have said, but I have other parts where I beg to disagree as well. It's true that the era of traditional betting is almost gone because almost everything is digitalized nowadays. The technology is evolving and so are the products and services being offered. Hence, most bettings also adapted to the changes and made their way online. There are now so many websites to choose from. You just have to pick what suits your preferences. However, I don't agree that gambling is only for the rich. Gambling is for everyone, before and up until today. Only that it became more inclusive because of the transition.

People can pick between fiat at crypto betting. Either of the two is okay as long as they are betting responsibly. But to answer your question, I think the advantages crypto betting has to offer over fiat betting would be: having more options, it is diverse in terms of betting payment and withdrawal, some of it does not require KYC which is a plus for those people who are uncomfortable with it, has more privacy, easy to claim prizes (in reputable sites).

Accept this, and what will happen is that those gamblers who are too lazy to do KYC will go to another website that does not require KYC. However, if they do have funds in that website, we are usually forced to perform KYC. I know they will keep it private with data privacy, but I don't have 100 percent trust in that. Still, we don't have anything to do but do the KYC or transfer to another website, but as a lazy gambler, I usually transfer to another website because there are so many now.

We don't like us being asked for KYC.

But when the casino where we're staying does, we have no option but just to take on it and go on with what they're asking for. Dealing with it is the only choice especially if you have big funds being there.

It's liked being hostage as I've read from someone telling how it's like he's being asked for KYC before touching his own money.

Majority of us do really hate up KYC that's why its just really that part of common sense on which one you would really be preferring into and there are lots of options out there for you to take.

Its just understandable that you would really be complying verifications when you do deal with fiat bookies and none for those who are
crypto platforms which majority is been preferring into.

Your choice which one you would really like to deal with.

Honestly speaking, no it's not. Crypto betting is slowly moving to fiat gambling standards. More and more sportsbooks are now asking for KYC. That said, the casino part of crypto gambling is still very safe and respects privacy.

Actually, crypto gambling sites are miles behind when it comes to fiat online casinos but yeah better than local sportsbook where you have to wait in queues and then go back to cash your winnings.

I believe crypto gambling was much better with no restrictions and KYC but the way it's going now, I can't say it's progressing too well.

KYC vs no-KYC will always be like a cat and rat game
even if gonverments enforce casinos to ask for KYC they could move to different countries where there aren't laws like that

KYC can hurt more than help too because it incentive people to fake documents and create an incentive for black markets to be stronger on stolen documents
idk

@South Park: Government does not want our information to be hidden from them. They wanna come for us now to gain that power and influence but time will tell. Few gambling platform with never want to lose there customers. They still do mini kyc to have a taste of our identity. Thanks to Satoshi for bringing Bitcoin to our table.

@Fortify: Nobody is running from anything.

This is why cryptocurrencies and gambling are such a strong combination, even if you had a bank account and PayPal did you really wanted to use them and allow the casino to get all of that information out of you when the only thing you wanted to do was to play some games? Now thanks to bitcoin we have retained some level of privacy and that is huge as this is getting more and more difficult since governments and private companies do not want you to have any privacy at all.

I'd say the only real advantage you could get by betting via cryptocurrency is avoiding the laws of certain countries where it may be illegal. If you wanted to bet and lived in Iran for example, there are zero legal outlets even if you did not follow the religious law that covers the country. Whether you should be breaking the law is another question, but if the casino you're playing at doesn't use any sort of KYC authentication then there is much less risk that you would be exposed in future. Besides that, you are probably legally safer by sticking with the multitude of fiat betting sites in your country if there are no withdraw fees, because most cryptocurrencies have an extra conversion fee involved. Alternatively you might look at the volatility of cryptocurrency as a bonus way to boost your casino bankroll value.

That's right but a lot of gamblers who are new to this online crypto gambling scene needs to know the advantages crypto gambling has over the traditional ways. I must say that gambling has been among the biggest contributors for the rise of Bitcoin and cryptocurrencies as a whole and I don't see a reason why we should shy away from promoting crypto gambling as long as it's legal and we are promoting legit casinos.

The biggest advantage I feel crypto gambling has over traditional is that we can bet any amount we want because in a real casino you cannot just make 5 cents bets.

I prefer the deposit with crypto, converted into fiat, and then withdraw with crypto mechanics. This way, I don't have to worry about volatility, especially if I play with altcoins. It's actually better to play with BTC tho since the price is relatively more stable than alts and the bullish sentiment, however the deposit + withdrawal costs force me to pick the earlier mechanics. Crypto has more privacy as well, but I'm afraid it is difficult to maintain complete anonymity as more and more casinos require KYC. Nowadays you can only play hash games on anon casinos.

@noormcs5: crypto betting is anonymous. It is hard to know the real gambler while Fiat is a free mode for any person to come for you through withdrawal access. If a person account become hacked, personal information can be tracked.

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