Gambling In Crypto - page 3. | Bitcointalksearch.org

Oceat

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Quote from: South Park on January 27, 2022, 03:50:33 PM

Quote from: Reid on January 27, 2022, 01:35:29 PM

What I find amusing when using cryptocurrencies to gamble is you forget how much it is. You don't convert to USD when you got used to crypto payments. Example is I gamble 10k satoshis and won 17k, I won't have the urgency to try and look at google BTC - USD conversion with how much I made, I just know I won more from betting and that's it. Less stress, No KYC, and you will be able to relax knowing you just bet for a tiny amount in Bitcoin specifically. I think that is enough reason for me to use it more.

This is something that has also happened to me, at the beginning I thought about it and tried to convert the amount of bitcoin that I was betting into dollars to get an idea of how much I was betting, but now I do not even bother with such a thing, it is just a waste of time to try to think in terms of dollars when I am not even using it, it is way better to just think in terms of satoshis as not only this faster but easier to do as well.

Don't stress yourself out just knowing how much you win or earn but instead enjoy the game since gambling is for entertainment only you don't have to necessarily count how much you earn because it's not for making money, it's for entertainment. Although, earning while playing is better since you can play more.

I think you have to set a winning x lose record so that you can determine how much you really win and by doing that you do the math later.

goinmerry

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Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Pros/Cons? There are general ones on which I'm sure you already know and no need for any elaboration.

Self-advantage or disadvantage will depend on your experience.

Eventually while continuing to be involved in gambling, you will determine those advantages and disadvantages for you.

Fatunad

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Quote from: Ryker1 on January 27, 2022, 04:59:47 PM

Quote from: Raflesia on January 27, 2022, 01:10:29 PM

Quote from: jrrsparkles on January 27, 2022, 10:58:03 AM

Even if we have mandatory KYC it is more convenient in crypto casino when it comes to deposit and withdrawals because we don't have to wait for the banks to approve our transaction or ask the source of funds when it comes to deposit. Apart from that everything is similar but in future more crypto casino then it will give better choice for the gamblers to pick.

Indeed, some casinos have been required to KYC according to their procedures as a condition, but it will still be the cryptocurrency of choice compared to fiat, we are easier to use in transactions called P2P so there is no other party and our deposits or withdrawals will remain anonymous, that's what becomes my choice.
Honestly, that's what is doubtful about depositing Fiat when later you are asked where the source of the funds will come from, then this will be more difficult to explain and of course it will take time to provide an explanation.

Well, there is a behavior of the casino that they will always ask KYC if the amount you deposited is a large amount. I think the casino will never care where it comes from a small amount that you deposit and it will always ask a KYC when you deposited a large amount even if it is where it comes from. I don't think also as a p2p transaction is good for the gambling casino it usually has a problem. The normal transaction would be better in my own opinion.

If thats the case, then how about those people or whales who had been playing on the site but havent been asked out a single thing? Ex. Rollbit (my signature) on which i dont see that there are some verifications
been asked or needed for them to play on the time that they do deposit big amounts.Well, there might be some time or probabilities but it would be good if there would be no hassle
nor strings attached whether you do deposit big or withdrawn big.

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Quote from: Raflesia on January 27, 2022, 01:10:29 PM

Quote from: jrrsparkles on January 27, 2022, 10:58:03 AM

Even if we have mandatory KYC it is more convenient in crypto casino when it comes to deposit and withdrawals because we don't have to wait for the banks to approve our transaction or ask the source of funds when it comes to deposit. Apart from that everything is similar but in future more crypto casino then it will give better choice for the gamblers to pick.

Indeed, some casinos have been required to KYC according to their procedures as a condition, but it will still be the cryptocurrency of choice compared to fiat, we are easier to use in transactions called P2P so there is no other party and our deposits or withdrawals will remain anonymous, that's what becomes my choice.
Honestly, that's what is doubtful about depositing Fiat when later you are asked where the source of the funds will come from, then this will be more difficult to explain and of course it will take time to provide an explanation.

Well, there is a behavior of the casino that they will always ask KYC if the amount you deposited is a large amount. I think the casino will never care where it comes from a small amount that you deposit and it will always ask a KYC when you deposited a large amount even if it is where it comes from. I don't think also as a p2p transaction is good for the gambling casino it usually has a problem. The normal transaction would be better in my own opinion.

South Park

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Quote from: Reid on January 27, 2022, 01:35:29 PM

What I find amusing when using cryptocurrencies to gamble is you forget how much it is. You don't convert to USD when you got used to crypto payments. Example is I gamble 10k satoshis and won 17k, I won't have the urgency to try and look at google BTC - USD conversion with how much I made, I just know I won more from betting and that's it. Less stress, No KYC, and you will be able to relax knowing you just bet for a tiny amount in Bitcoin specifically. I think that is enough reason for me to use it more.

This is something that has also happened to me, at the beginning I thought about it and tried to convert the amount of bitcoin that I was betting into dollars to get an idea of how much I was betting, but now I do not even bother with such a thing, it is just a waste of time to try to think in terms of dollars when I am not even using it, it is way better to just think in terms of satoshis as not only this faster but easier to do as well.

Mahanton

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Quote from: jrrsparkles on January 27, 2022, 10:58:03 AM

Quote from: Taskford on January 27, 2022, 06:32:52 AM

Quote from: jrrsparkles on January 27, 2022, 02:17:06 AM

Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

Effective in terms of?

If Convenience is that you meant then yes, its more easier to gamble with crypto also you can gamble without KYC on most of the casinos but in terms of winning it doesn't depends on crypto, your luck decides it.

It's understable that many expect to earn while playing but in reality we might struggle if we always into profits. But we cannot also say its more easier to gamble online since maybe for now KYC has not been mandatory but for sure if there's regulation happened with reputable casino we will experience this so lets expect that this will happen knowing we might face this once the casino notice something strange on our accounts. Also in terms of winning all will matter on our luck since we cannot guarantee to win always by using crypto.

Even if we have mandatory KYC it is more convenient in crypto casino when it comes to deposit and withdrawals because we don't have to wait for the banks to approve our transaction or ask the source of funds when it comes to deposit. Apart from that everything is similar but in future more crypto casino then it will give better choice for the gamblers to pick.

I do agree on this one which is totally true on which there wont really be a hassle when it comes to deposits and withdrawals as long you had able to comply with those KYC requirements then transactions neither
deposits/withdraw would really be on ease not like when you are dealing with fiat casinos and this had been the edge and we do much prefer on having this rather than with those hassle things around.
We do love fast and easy way to gamble without the need on waiting up something and even myself wont really be that patient when it comes to this manner and for sure most gamblers do also.

Reid

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What I find amusing when using cryptocurrencies to gamble is you forget how much it is. You don't convert to USD when you got used to crypto payments. Example is I gamble 10k satoshis and won 17k, I won't have the urgency to try and look at google BTC - USD conversion with how much I made, I just know I won more from betting and that's it. Less stress, No KYC, and you will be able to relax knowing you just bet for a tiny amount in Bitcoin specifically. I think that is enough reason for me to use it more.

Raflesia

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Quote from: jrrsparkles on January 27, 2022, 10:58:03 AM

Even if we have mandatory KYC it is more convenient in crypto casino when it comes to deposit and withdrawals because we don't have to wait for the banks to approve our transaction or ask the source of funds when it comes to deposit. Apart from that everything is similar but in future more crypto casino then it will give better choice for the gamblers to pick.

Indeed, some casinos have been required to KYC according to their procedures as a condition, but it will still be the cryptocurrency of choice compared to fiat, we are easier to use in transactions called P2P so there is no other party and our deposits or withdrawals will remain anonymous, that's what becomes my choice.
Honestly, that's what is doubtful about depositing Fiat when later you are asked where the source of the funds will come from, then this will be more difficult to explain and of course it will take time to provide an explanation.

jrrsparkles

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Quote from: Taskford on January 27, 2022, 06:32:52 AM

Quote from: jrrsparkles on January 27, 2022, 02:17:06 AM

Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

Effective in terms of?

If Convenience is that you meant then yes, its more easier to gamble with crypto also you can gamble without KYC on most of the casinos but in terms of winning it doesn't depends on crypto, your luck decides it.

It's understable that many expect to earn while playing but in reality we might struggle if we always into profits. But we cannot also say its more easier to gamble online since maybe for now KYC has not been mandatory but for sure if there's regulation happened with reputable casino we will experience this so lets expect that this will happen knowing we might face this once the casino notice something strange on our accounts. Also in terms of winning all will matter on our luck since we cannot guarantee to win always by using crypto.

Even if we have mandatory KYC it is more convenient in crypto casino when it comes to deposit and withdrawals because we don't have to wait for the banks to approve our transaction or ask the source of funds when it comes to deposit. Apart from that everything is similar but in future more crypto casino then it will give better choice for the gamblers to pick.

coin-investor

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Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

I wonder what makes things different by the word effective, effective on what? winning, playing, or depositing, there's hardly difference except you are using a Crypto where you are anonymous and you can track your payment and the transaction is fast when it comes to games and features, there's little difference, Crypto casinos are beating the fiat-based casinos, there are always new casinos every month in Cryptocurrency gambling.

sunsilk

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Quote from: imstillthebest on January 27, 2022, 02:15:34 AM

it will be fair for us gamblers if a casino put a notice if they require kyc or not and us gamblers we need to make it a habit to check the terms and conditions because they sometimes include it there .

In most cases, it's visible and already there before someone sign's up.

They're putting that already in their FAQ and terms and condition and that's fair to everyone. It's the responsibility of the user to check the terms the casino he's playing with. I don't think that will consume a lot of time just for the checking in.

The problem for some gamblers, they don't check it and when they're asked to proceed for the kyc, they complain but they haven't read the terms when suddenly being asked.

Taskford

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Quote from: jrrsparkles on January 27, 2022, 02:17:06 AM

Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

Effective in terms of?

If Convenience is that you meant then yes, its more easier to gamble with crypto also you can gamble without KYC on most of the casinos but in terms of winning it doesn't depends on crypto, your luck decides it.

It's understable that many expect to earn while playing but in reality we might struggle if we always into profits. But we cannot also say its more easier to gamble online since maybe for now KYC has not been mandatory but for sure if there's regulation happened with reputable casino we will experience this so lets expect that this will happen knowing we might face this once the casino notice something strange on our accounts. Also in terms of winning all will matter on our luck since we cannot guarantee to win always by using crypto.

iv4n

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Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Recently I have started to gamble with crypto, and other coins.

With crypto and other coins?! That's funny!

Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat.

When it comes to lucky-based games it's probably more effective to gamble with crypto than with fiat... but more experienced players will probably say that fiat bookies offer more than crypto bookies, and fiat poker has more players and games. Of course, some of those fiat casinos accept BTC, but anyway they are still fiat oriented, and mostly your crypto deposits are converted to fiat!

Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

We had many "crypto gambling pros & cons" threads here... Bottom line is that you need to play in your favorite crypto casinos if you are a crypto gambling supporter and if you notice anything that can be improved you can write your feedback in casino ANN threads! It's how we can contribute as a community! And if you see that the casino is paying attention to our feedback you can be sure that the team behind a specific casino is working on development, so it's logical to think they can be only better and it's good to be there!

YOSHIE

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Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Let’s use this thread to discuss pros/cons and how us users can improve it!

Betting using crypto compared to fiat, there is indeed a lot of difference, if you look at current technological developments with the rise of gambling sites that offer crypto to be able to place bets, If you go to a physical casino house of course fiat is always effective in placing bets, but if an online site that is definitely crypto is more professional, not a few local gambling sites are currently changing the fiat system to crypto, this is all a demand factor, keep up with the times.

There are many considerations of people gambling using crypto, overall, easy, cheap, safe and affordable.

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Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

Effective in terms of?

If Convenience is that you meant then yes, its more easier to gamble with crypto also you can gamble without KYC on most of the casinos but in terms of winning it doesn't depends on crypto, your luck decides it.

imstillthebest

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Quote from: Lordshiva on January 27, 2022, 01:40:33 AM

Quote from: worle1bm on January 27, 2022, 01:19:17 AM

Crypto gambling has become more popular in few years and you could find out the list is long for some reputed and legit crypto casinos in the market making huge profits with it.There are people who prefer to have some physical and real time gambling with fiat in those casinos but now most of them prefer it to be online as it have same perks and wide variety of games and slots.

The other reasons include the anonymous and no KYC features that make these crypto casinos distinct from fiat ones and moreover you can play with 3-4 coins they accept with low level of fees also and no indentity is revealed for yourself.They their own range on benefits.

Yes the main reason I think is there is no KYC system when you are gambling in crypto and people want to do gambling anonymously. This is the reason for me to switch from fiat gambling to crypto gambling.
Also KYC process can get quiet frustrating some times and they dont let you withdraw until you do the KYC.
Hence I prefer gambling in crypto.

it will be fair for us gamblers if a casino put a notice if they require kyc or not and us gamblers we need to make it a habit to check the terms and conditions because they sometimes include it there .

Poker Player

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Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

I am not very clear what you mean by "effective", but I can tell you that crypto sites usually offer better conditions, lower HE, for example. This is because they usually have licenses in tax havens, and some don't even have licenses, so the costs for regulations and taxes are lower. That way they can attract players with a higher return while making money at the same time.

All of this apart from the fact that many times they are skirting the legality, as mentioned, as they accept players from countries where a license from the country is needed to operate, etc.

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Welcome back 🙏

Quote from: worle1bm on January 27, 2022, 01:19:17 AM

Crypto gambling has become more popular in few years and you could find out the list is long for some reputed and legit crypto casinos in the market making huge profits with it.There are people who prefer to have some physical and real time gambling with fiat in those casinos but now most of them prefer it to be online as it have same perks and wide variety of games and slots.

The other reasons include the anonymous and no KYC features that make these crypto casinos distinct from fiat ones and moreover you can play with 3-4 coins they accept with low level of fees also and no indentity is revealed for yourself.They their own range on benefits.

Yes the main reason I think is there is no KYC system when you are gambling in crypto and people want to do gambling anonymously. This is the reason for me to switch from fiat gambling to crypto gambling.
Also KYC process can get quiet frustrating some times and they dont let you withdraw until you do the KYC.
Hence I prefer gambling in crypto.

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Quote from: Fortify on January 26, 2022, 04:44:50 PM

Quote from: Oasisman on January 26, 2022, 03:38:06 PM

Quote from: The_Crypto_Gambler on January 24, 2022, 02:09:06 PM

Recently I have started to gamble with crypto, and other coins. Looking to speak with anyone who has had similar experiences. I find it much more effective than gambling with fiat. Let’s use this thread to discuss pros/cons and how us users can improve it!

Thanks!

Well, If you're a fan of anonymity and you hate linking your credit card, debit card, or your PayPal account and other financial account, then I guess crypto casino and sports betting is good for you.
I can't think of anything that's more advantageous than this in Cryptocurrency compared to fiat betting.

You only need to be careful and read the company TOS to avoid your funds from getting compromised.

There are also lots of nuances that come into play that crypto can help get around - you mentioned credit cards, but this form of funding on gambling sites is often prohibited now, but you might be able to buy crypto using one instead.

I am not a fan of Credit cards , never that i rely my life on that usage .

Quote

One of the major disadvantages of these crypto casinos is that they are often cloaked in anonymity,

Don't worry because it is fewer now that crypto gambling site is focusing in anonymity as most of them are requiring KYC nowadays.

Quote

which can be a big problem if anything goes wrong and it is more likely to go wrong if the owners have less chance of facing criminal responsibility. You'd be surprised how easy it is to chain together these offshore companies, supposedly regulated, if you have enough cash to pay for the right services - you'd more likely to catch a ghost than uncover the real owners behind these layers of secrecy.

Can you give me even a single gambling case that progress? i mean a person that successfully bring site owner to jail? or atleast made them pay big amount?

worle1bm

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Crypto gambling has become more popular in few years and you could find out the list is long for some reputed and legit crypto casinos in the market making huge profits with it.There are people who prefer to have some physical and real time gambling with fiat in those casinos but now most of them prefer it to be online as it have same perks and wide variety of games and slots.

The other reasons include the anonymous and no KYC features that make these crypto casinos distinct from fiat ones and moreover you can play with 3-4 coins they accept with low level of fees also and no indentity is revealed for yourself.They their own range on benefits.

Topic: Gambling In Crypto - page 3. (Read 755 times)