Fiat-betting to crypto+betting - page 6.

noormcs5

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

Fiat betting was once the order of the day making online betting difficult to play mostly for international gamblers that have no access to international money transfer services like money gramme, PayPal, Wester Union and so many more. Online gambling was mostly difficult then but now. The regime of Bitcoin has made online transactions easier for everyone.

Gone are those days where you will have to queue in a betting shop to play bets(sport bet mostly)
Gone are those days where online betting is limited.
Gone are those days where there are few betting sites available for bet enthusiasts.
Gone are those days when gambling is for the rich.
Gone are those days where international sport betting transactions are stressful.
Gone are those days when people are afriad to buy Bitcoin.

Now we have some many altcoins that can be use to play bets online. We are gradually walking into the blockchain era. God bless Satoshi Nakamoto.

What advantage does the crypto betting has over Fait betting?

There are two advantages of crypto betting over fiat betting

1- In most cases of fiat betting, your identity can be traced by in crypto betting, you can bet anonymously on international gambling sites.

2- Even the minors and kids can gamble and bet because you don't need to use your credit / debit cards to pay for gamble . There are many non-kyc gambling sites available worldwide

Findingnemo

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Both gambling and the crypto currencies helped each other with others adoption respectively. Cheesy

Not only the gambling even remittance services become more convenient after crypto now more and more companies are adopting cryptos because its clear that cryptos are going to play a huge role in the future.

noorman0

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Quote from: magneto on October 26, 2021, 02:54:03 AM

The lack of KYC, and it is generally a lot less prone to bookmakers banning accounts etc.

In fact crypto has brought solutions to some of the complex problems of traditional casinos such as removing identity requests for casino violators by simply signing ownership of addresses which should be considered sufficient. It's just that casinos do not take advantage of that and prefer to hold gamblers' money under the pretext of KYC policies, that's not different from gambling using fiat.

As I said a while ago, certain crypto adopting casinos are still not ready for decentralization. The only instant benefit is unlimited use of any casino platform worldwide, but you will no longer be anonymous once you break the rules.

michellee

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Crypto changed people's lives because they can use crypto to hide from sending and receiving the funds, plus they can also use it to play gambling. The anonymity will be the biggest advantage from crypto to people who use it while searching for the merchant or other website to pay using crypto. Crypto helps people to gamble with ease as they can buy crypto from the exchanges and send it into their gambling website account and start playing gambling. But I think some people still use fiat to gamble as they still feel comfortable using the old way than trying to use crypto. So that will be up to them to decide.

magneto

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The lack of KYC, and it is generally a lot less prone to bookmakers banning accounts etc.

Crypto withdrawals are also lightning fast which is in direct contrast to fiat withdrawals which can take up to days even with top tier services such as Betfair.

It's just that the limits are generally lower and odds are a bit worse. Otherwise there's really no reason why anyone would want to use a fiat sportsbook.

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

Fiat betting was once the order of the day making online betting difficult to play mostly for international gamblers that have no access to international money transfer services like money gramme, PayPal, Wester Union and so many more. Online gambling was mostly difficult then but now. The regime of Bitcoin has made online transactions easier for everyone.

Gone are those days where you will have to queue in a betting shop to play bets(sport bet mostly)
Gone are those days where online betting is limited.
Gone are those days where there are few betting sites available for bet enthusiasts.
Gone are those days when gambling is for the rich.
Gone are those days where international sport betting transactions are stressful.
Gone are those days when people are afriad to buy Bitcoin.

Now we have some many altcoins that can be use to play bets online. We are gradually walking into the blockchain era. God bless Satoshi Nakamoto.

What advantage does the crypto betting has over Fait betting?

I like the generalization but sadly it is not the reality in most country especially the country in which I presently reside in. Folks would rather go with fait betting than with crypto betting. Over here, crypto is the new gold and one's most priced possession and it's not something they'll use "carelessly". Because for some, it took them a lot of sacrifices which includes dropping out of college to get to where they are in their cyrpto-journey so they'd rather use it for trading than for betting. To them but not all, fait betting is just fine.

Wexnident

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Excluding the fact that it's online which makes betting less of a hassle (and at your own comfort), crypto in gambling pretty much improved the transparency of casinos towards their results and also allows anonymity to a certain extent. The general idea of betting is still there, it's just that crypto (or online in general) makes it much more comfortable and easy to access compared to the past. Plus, I'm not sure whether to make it as a positive or not really, but people who don't want their identity to be revealed can easily register without much trouble.

YOSHIE

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

What advantage does the crypto betting has over Fait betting?

There is definitely an advantage, be it in terms of betting or something else.

Fiat and crypto have their own advantages in betting online or physically, where if we bet with crypto we don't have to have more $1-10 we can already place bets anywhere on behalf of online gambling sites, that's the advantage of crypto in my opinion.

As for fiat, as you said we have to queue first to wait for bettors to come out or lose, besides bets with fiat can't place a $1 bet at least we have to have a supply of money for a $20 bet one time, it's low class, it's a different story in high end bets with $20 money if you bet, at a classy table, surely other bettors will laugh at us.

What is certain is that online betting using crypto is more profitable and superior today, with the technology that exists today.

dustboy

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Quote from: Slow death on October 25, 2021, 05:04:18 PM

there is another big advantage of cryptocurrencies which would be:

when a person bets 0.001 BTC and the bitcoin exchange is at $30,000, then the person wins a bet and have 0.002 BTC and after a few months the price rises to $60,000 the person manages to make a profit with a bet and still profit with bitcoin increase, this in my opinion Is fantastic

That's happen only if the gambler hold his bitcoin, if he exchange it to fiat immediately after the win means that the price change is not an advantage. Assuming that the gambler hold his bitcoin hold the bitcoin after the win, it can be both disadvantage and advantage depending on the price movement. It will be an advantage if the price rises but it will be disadvantage if the price falls down.

davis196

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

Fiat betting was once the order of the day making online betting difficult to play mostly for international gamblers that have no access to international money transfer services like money gramme, PayPal, Wester Union and so many more. Online gambling was mostly difficult then but now. The regime of Bitcoin has made online transactions easier for everyone.

Paypal isn't gambling friendly,but other fiat payment providers like Skrill are being accepted by many casinos.I've seen multiple online casinos,slots websites and sports betting platforms to accept Skrill as a deposit/withdrawal option.
Anyway,cryptocurrencies made gambling more anonymous and more convenient,but the online gambling industry was convenient enough before the rise of crypto.

Quote

Gone are those days where you will have to queue in a betting shop to play bets(sport bet mostly)
Gone are those days where online betting is limited.
Gone are those days where there are few betting sites available for bet enthusiasts.
Gone are those days when gambling is for the rich.
Gone are those days where international sport betting transactions are stressful.
Gone are those days when people are afriad to buy Bitcoin.

Dude,are you talking about the 90s or early 00s? Grin

I don't really think that there was a time,when gambling was "only for the rich".
Actually 99% of the gamblers were always poor and middle class people.
Online gambling is way more convenient than offline gambling,but it's still heavily regulated in most countries.
Thank God we have some offshore islands like Curacao,providing the casino owners with affordable gambling licenses. Grin

Cling18

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We could really see how Bitcoin made our lives more convenient and we're now able to enjoy gambling more because we're able to play through cryptocurrency anytime and anywhere. Our lives really became easier because of blockchain technology but we can't deny the fact that fiat is still needed for us to encash whenever we need funds for our necessities.

btc78

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

What advantage does the crypto betting has over Fait betting?

Of course the advantage that while we are betting the opportunity of increasing the value of the coins we are using may increase ,
Imagine Having 1k worth of Crypto now and using for betting and then the value of that coin increases as we play to double then how much we can withdraw?
while on Fiat the amount we use and hold will be the same while we progress in playing no matter how much the price of cryptocurrency moves.

LUCKMCFLY

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The truth is, I believe that betting with crypto is much better because there are many ways to be anonymous, currently the platforms are demanding a lot of KYC, which can be equated with the requirements of FIAT money, which always require being registered and having certain identification, currently it is a prerequisite for some platforms. When we make bets with crypto it is simpler, they can be made at any time of the day and the ease is that it can be done in any cryptocurrency that the platform accepts, this guarantees the low fee required.

ralle14

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As much as I like how crypto betting is getting popular since it offers convenience I still think fiat betting will continue to thrive because some of the biggest fiat sportsbooks like bet365 are still miles ahead over crypto sportsbooks. One neat advantage of crypto casinos is the processing speed of the transactions, there are a couple of casinos that credits the deposits and withdraws instantly. Also another advantage is probably the bankroll investments, not all casinos are willing to share a portion of their profits but there are some owners who'll use it as a way to keep their players interested.

bitzizzix

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Quote from: Slow death on October 25, 2021, 05:04:18 PM

there is another big advantage of cryptocurrencies which would be:

when a person bets 0.001 BTC and the bitcoin exchange is at $30,000, then the person wins a bet and have 0.002 BTC and after a few months the price rises to $60,000 the person manages to make a profit with a bet and still profit with bitcoin increase, this in my opinion Is fantastic

That's right, that's one of the advantages if we use crypto it has two advantages. the profit if we win in gambling and also the profit will be doubled if there is an increase in the crypto coins we use and it is real, and when that happens I will immediately transfer it to my wallet.
Another advantage of using cryptocurrencies is that there is no exchange of sensitive information and no possibility of our personal data being hacked and moreover anonymity, and having a lot of choices in games and other advantages.
actually use crypto or fiat out of habit and also there are still many people who don't know the advantages and disadvantages of using crypto, and who use crypto to bet only those who understand.

traderethereum

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Quote from: Rajamuda on October 25, 2021, 09:22:03 PM

Because of the presence of crypto, it has been proven that gambling sites are even more popular, and the gambling world can also affect price movements because there are definitely some people who buy crypto just to gamble, this is easier and less complicated than betting with fiat on certain online gambling sites.
Crypto gambling is like a complement, of course it can be used as a spare time filler as entertainment.
Over time, later betting with fiat will be considered ancient and left behind.

People will think about hiding their activity while playing gambling and will see crypto can be their solution to gamble anonymously.
So that will make them like to use crypto to gamble as crypto offers easiness to just playing gambling.
They will know the other benefits of using crypto furthermore as they see that crypto can be their new investment in the digital currency.
Playing gambling is entertainment, whether they use fiat or crypto, so they will be considered using crypto to make money or just to gamble.

Rajamuda

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Because of the presence of crypto, it has been proven that gambling sites are even more popular, and the gambling world can also affect price movements because there are definitely some people who buy crypto just to gamble, this is easier and less complicated than betting with fiat on certain online gambling sites.
Crypto gambling is like a complement, of course it can be used as a spare time filler as entertainment.
Over time, later betting with fiat will be considered ancient and left behind.

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Quote from: Saint-loup on October 25, 2021, 06:51:14 PM

Quote from: shield132 on October 25, 2021, 06:03:08 PM

I would say - nothing dramatic. I don't know where you are from but I can definitely say that it wasn't hard for anyone to gamble online. Well, at least in my country it was as easy as ABC and the casinos were putting all the efforts to make gambling available for everyone and it was very easy to make deposites in casinos. You could pay with almost any card, you could fill any casino account with any local Payment Kiosks. These casinos even created their own anonymous cards for gamblers and people are able to withdraw money on that card and pay at grocery stores, withdraw from ATM without fees, etc. My country is really heaven for gamblers.
The only benefit that crypto bought into gambling is some very unique games like Dice, Bustabit, the possibility to bet 1 satoshi that's equal of 0.0001 USD and even lower, depends on the price of bitcoin.
Also, another advantage can be the reward system that freebitco has with their supported FUN token.

I don't know where you are living and if things are still going like that in your country(you speak in the past tense) but in most of countries gambling is a highly regulated activity when it is allowed. Moreover usually banks don't like gamblers because they can quickly lose high amounts of money and taking out loans they can't pay back, then you can get into trouble with your bank if you spend big amounts of money into known casinos.

Isn't it the other way around? Banks like those users who are spending much for them to take loans?

Beforehand, banks do have a character identity process and if that person is capable of taking loans. If that person approved, banks can now take collaterals just in case that person doesn't have the ability to pay in the future.

They will have the advantage of those users that will ask for loans. Only for those who are qualified.

Saint-loup

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Quote from: shield132 on October 25, 2021, 06:03:08 PM

I would say - nothing dramatic. I don't know where you are from but I can definitely say that it wasn't hard for anyone to gamble online. Well, at least in my country it was as easy as ABC and the casinos were putting all the efforts to make gambling available for everyone and it was very easy to make deposites in casinos. You could pay with almost any card, you could fill any casino account with any local Payment Kiosks. These casinos even created their own anonymous cards for gamblers and people are able to withdraw money on that card and pay at grocery stores, withdraw from ATM without fees, etc. My country is really heaven for gamblers.
The only benefit that crypto bought into gambling is some very unique games like Dice, Bustabit, the possibility to bet 1 satoshi that's equal of 0.0001 USD and even lower, depends on the price of bitcoin.
Also, another advantage can be the reward system that freebitco has with their supported FUN token.

I don't know where you are living and if things are still going like that in your country(you speak in the past tense) but in most of countries gambling is a highly regulated activity when it is allowed. Moreover usually banks don't like gamblers because they can quickly lose high amounts of money and taking out loans they can't pay back, then you can get into trouble with your bank if you spend big amounts of money into known casinos.

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Quote from: Bushdark on October 25, 2021, 05:22:55 PM

@Stedsm: Fiat betting sites are suffocating now. Many gamblers have left Fiat betting site to avoid big fee that is charged mostly when there is no competition. Crypto is changing the gambling world making it easier and better for you and myself.

Do you have a proof for this or any related article or news that many gamblers left fiat betting? During the pandemic, players gambling online increases their numbers, especially in the European region. It was mentioned several times on the news.

It's impossible for me to think that majority of them are crypto gamblers.

Topic: Fiat-betting to crypto+betting - page 6. (Read 887 times)