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Topic: Gambling In Crypto - page 4. (Read 721 times)

legendary
Activity: 2562
Merit: 1873
Leading Crypto Sports Betting & Casino Platform
January 27, 2022, 01:28:18 AM
#70
Pros and cons about using crypto currency has been discussed here many times and again, if you can't handle the risk of it better not to gamble at all.

With regards to gambling, either you use fiat money or cryptocurrency, you are still doing the same thing which is gambling if you don't have self-control then you will still fall and lose that money. Use fiat and crypto, whatever if more convenient for you.

Yes exactly, with that being said either fiat of crypto which one will you choose to use in gambling you're still doing the same thing and that is to take risk your capital for a hope of earning profit out of it or simply just giving yourself an entertainment. Self-control is definitely needed in this kind of game, without having it you will fall into trap of lose and failure. On top of this, crypto is much easier to use with rather than fiat but still have a self limitation when gambling.

This is what I call having responsibility, one cannot control everything that belongs to other people, much less control the money they have available to spend, I believe that each person should have a risk management plan, and nobody can get involved in it, with what right can it impose what and how to spend money, whether in fiat or cryptocurrency, when we are making a bet, what must be taken into account as a first option is to be willing to lose that amount of money and the biggest mistake The great thing about a person is to get carried away by positivism and only think about what they will gain, and that is where failure lies. I am not against positivism, in fact I am very positive, but in a bet, whether in crypto or in FIAT, you have to take the option that the money that is taken to the bet will be lost, and it is better that way so as not to falling into possible depression.
hero member
Activity: 2072
Merit: 656
PredX - AI-Powered Prediction Market
January 26, 2022, 07:14:50 PM
#69
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!
Some the people like gambling with crypto because:
- They can lay gambling as well online with crypto, moreover because gambling is prohibited in their country and we can play gambling online with crypto without worrying about the prohibition (like me  Grin)
- We can find many crypto gambling platforms that accept from many countries around the world, well, some of them also need KYC and some are not. And this is the choice of every gambler to do that KYC or not, each has also pros andcons.
- We can choose more options of payment, we can deposit with more types of cryptocurrencies, not only Bitcoin. So we have more choices to consider, especially about the availability of the crypto and also the fee of transfers.
- We commonly will also find out every type of gambling, like in the online gambling with fiat, so, this is no problem.

cons:
- As I have told above, we may still face some options between doing gambling only platforms that need KYC, if no, we can skip that
- We may find some scam platforms, so be careful. Always research at first the platform that we want to play gambling, Here in this forum, there is a scam acusation board.
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legendary
Activity: 3150
Merit: 1125
Leading Crypto Sports Betting & Casino Platform
January 26, 2022, 06:58:29 PM
#68
Are the only people I'm seeing doing well in life thanks to the fact that there are altcoins and people use altcoins to gamble? are the owners of casinos. yes the owners of casinos have a hundred reasons to celebrate because they can have many customers since several people can use the casino, of course other people who do not own the casino will benefit too
legendary
Activity: 3724
Merit: 1028
The Best Tipster on the Forum!!
January 26, 2022, 06:52:18 PM
#67
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!


For me betting with crypto is much more easier and much more effective. Its easier to bet especially with litecoin that is really fast to deposit also betting on casinos that have instant deposits and cashouts is really good. Not much approval or wait time to get your funds.
legendary
Activity: 2436
Merit: 1104
January 26, 2022, 06:46:06 PM
#66
-snip
yeah, it does have its advantages compared when gambling on a fiat online casino. just curious, would you mind sharing what you think are some of the pros and cons of a crypto casino?

There's no need to improve on our side but on the gambling operators, they have to compete very well in order to give us the best gambling experience.
OP is not saying that we need to improve. OP is saying what can we do(like giving suggestions) to improve crypto gambling casinos. hence the discussion of pros and cons.
hero member
Activity: 2590
Merit: 644
January 26, 2022, 06:39:00 PM
#65
The site may ask to go through KYC if your funds are linked to dirty wallets that are involved in illegal activities. You can get such funds through a P2P exchanger and not even know about it. So even if you buy cryptocurrencies with legal funds you should always be ready that the casino can ask you to confirm your identity at any moment.
^ Probably not all the time and it depends on the amount that is involved, it will always be suspicious when someone deposits a large amount and that is the time a gambling casino will for sure ask further documents for the KYC, but if the amount is small that enough for you to gamble in one session, probably there is no a problem with that. I think it always matters on the amount, so I advise anyone to deposit only a small amount and there is no problem.
And don't think that the gambling casino is the way that you hide your identity by using coin mixers, you will face big trouble on that.
hero member
Activity: 2954
Merit: 672
Message @Hhampuz if you are looking for a CM!
January 26, 2022, 06:32:28 PM
#64
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!


There's no need to improve on our side but on the gambling operators, they have to compete very well in order to give us the best gambling experience. Most gambling sites now are creating their platform like a one-stop shopping, some have casinos and sportsbooks in their sites and they also accept a wide variety of cryptocurrencies, the more coins added with fast and cheap transactions are better, it will help us save from some fees and will help us to transact faster.
legendary
Activity: 3122
Merit: 1140
January 26, 2022, 06:22:37 PM
#63
I think that gambling with crypto is much better than with FIAT,you are not required to post any identity unless you hit a really big win and only then you may undergo verification of KYC (Know Your Customer).I think if you are not a whale,a normal gambler by gambling with crypto it is much better and safer as no one will know who you are not even the casino you are playing at.That is the major difference other than that they are pretty much identical,you risk your money in order to win more money.
Of course, crypto gambling allows us to maintain privacy without having to provide any identity to the sites we use (except email). We may also select sites that do not require winners to go through KYC to withdraw their money from the site. As for KYS, I'm not so sure gambling whales would be willing to give their identities to the site and this would be done by other normal gamblers as well.

The site reserves the right to request KYC from its gambler in certain cases. I'm not sure big wins are the reason why sites require KYC, usually because the user violated the ToS or some other violation.

The site may ask to go through KYC if your funds are linked to dirty wallets that are involved in illegal activities. You can get such funds through a P2P exchanger and not even know about it. So even if you buy cryptocurrencies with legal funds you should always be ready that the casino can ask you to confirm your identity at any moment.
Possible but in most rare cases because most gambling sites wont able to monitor out every single user in the platform on which they do able to see those vioation or lapses but to think that once you do get caught then for sure you would experience problems.

Its been years that possible KYC could really be asked out if there are malicious or shady activity that a user had able to commit with.So expect that odds of being on that situation could really be that high.
legendary
Activity: 2688
Merit: 1192
January 26, 2022, 05:44:50 PM
#62
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. One of the major disadvantages of these crypto casinos is that they are often cloaked in anonymity, 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.
legendary
Activity: 2310
Merit: 2073
January 26, 2022, 05:00:20 PM
#61
I think that gambling with crypto is much better than with FIAT,you are not required to post any identity unless you hit a really big win and only then you may undergo verification of KYC (Know Your Customer).I think if you are not a whale,a normal gambler by gambling with crypto it is much better and safer as no one will know who you are not even the casino you are playing at.That is the major difference other than that they are pretty much identical,you risk your money in order to win more money.
Of course, crypto gambling allows us to maintain privacy without having to provide any identity to the sites we use (except email). We may also select sites that do not require winners to go through KYC to withdraw their money from the site. As for KYS, I'm not so sure gambling whales would be willing to give their identities to the site and this would be done by other normal gamblers as well.

The site reserves the right to request KYC from its gambler in certain cases. I'm not sure big wins are the reason why sites require KYC, usually because the user violated the ToS or some other violation.

The site may ask to go through KYC if your funds are linked to dirty wallets that are involved in illegal activities. You can get such funds through a P2P exchanger and not even know about it. So even if you buy cryptocurrencies with legal funds you should always be ready that the casino can ask you to confirm your identity at any moment.
hero member
Activity: 2716
Merit: 552
January 26, 2022, 04:38:06 PM
#60
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.
legendary
Activity: 2506
Merit: 1125
January 26, 2022, 04:07:21 PM
#59
I think that gambling with crypto is much better than with FIAT,you are not required to post any identity unless you hit a really big win and only then you may undergo verification of KYC (Know Your Customer).I think if you are not a whale,a normal gambler by gambling with crypto it is much better and safer as no one will know who you are not even the casino you are playing at.That is the major difference other than that they are pretty much identical,you risk your money in order to win more money.
Of course, crypto gambling allows us to maintain privacy without having to provide any identity to the sites we use (except email). We may also select sites that do not require winners to go through KYC to withdraw their money from the site. As for KYS, I'm not so sure gambling whales would be willing to give their identities to the site and this would be done by other normal gamblers as well.

The site reserves the right to request KYC from its gambler in certain cases. I'm not sure big wins are the reason why sites require KYC, usually because the user violated the ToS or some other violation.
sr. member
Activity: 966
Merit: 421
Bitcoindata.science
January 26, 2022, 03:56:57 PM
#58
It's the anonymous and huge funding opportunity available in cryptocurrency gambling that gives me more excitement. Compared to the withdrawal limits in fiat gambling crypto currency withdrawal could be sent direct to a decentralized wallet where the gambler has full control of their funds making withdrawal from it in bit or in large amount depending on choice
sr. member
Activity: 1008
Merit: 308
January 26, 2022, 03:36:22 PM
#57
I'm also more comfortable gambling with crypto because of the convenience that it provides as well as the anonymity and security that every gambler wants. It has the same risks when playing using fiat but its security has an edge. I also find it thrilling since blockchain technology is volatile so it's too challenging.
I'm not too sure what kind of security did you mean, I think it depends on where or which casino we choose to play with. Meanwhile regarding anonymity, we all know in these days crypto casinos aren't totally support such kind of anonymity for its users anymore. They could ask for KYC in the first place or later, but I don't deny the fact that crypto casinos provide more advantages compared to fiat in terms of users privacy.
hero member
Activity: 2926
Merit: 640
January 26, 2022, 03:18:12 PM
#56
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!
Well, first of all congrats and welcome in crypto world my friend but what do you mean when you say more effective than fiat? Is it the win? You can win more win you use cryptos more than fiat? Well, if that's it then go on, continue believing on it as it seems it bring more benefit to you than harm but in my own experience, using cryptos does not increase my winnings and to me, gambling is all about luck and skills depending on the game your playing.

The pros of using cryptos is that I can gamble online and for the cons, cannot think of any. The pros of using a fiat is that its straight away, no need for conversion but the cons is that offline gambling using fiat are mostly illegal in my place.
hero member
Activity: 1862
Merit: 830
January 26, 2022, 12:26:54 PM
#55
This topic have been already extensively discussed and at the end of the day I do think that gambling with cryptocurrencies provides a person with immense opportunities to look out for their privacy and at the same time it's also very easy and more enjoyable since you go to any site there are so many games available. Also with fiat there are limited options and with the Gambling industry based on cryptocurrencies it's more easy to find variety of games and the features are better, it's more private and it feels like you are just playing online games. Fiat gambling online is still in progress and generally it's finely regulated.
legendary
Activity: 2282
Merit: 3014
January 26, 2022, 12:20:36 PM
#54
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 think the main difference of using crypto versus fiat money is the ease of transactions.  Using cryptocurrency is a lot faster and more smooth than using fiat in my opinion.  Before bitcoin was implemented often using offshore websites would take weeks to months to get a payout.  They also would send checks from shady looking offshore banks.  Using bitcoin makes things more private and just smoother overall.
hero member
Activity: 2604
Merit: 816
🐺Spinarium.com🐺 - iGaming casino
January 26, 2022, 11:58:20 AM
#53
I'm also more comfortable gambling with crypto because of the convenience that it provides as well as the anonymity and security that every gambler wants. It has the same risks when playing using fiat but its security has an edge. I also find it thrilling since blockchain technology is volatile so it's too challenging.
We have our own way of choosing what currency we want to deposit and withdraw instead of fiat. Crypto gambling provides us so many coins that we can use to gamble and with anonymity, we can prevent revealing ourselves to the casino. We do not have to send any documents to them, although some crypto casinos can ask us. But still, if we are only a small gambler, they will not ask that and will allow us to withdraw the money and we do not have to feel the rules are too strict.
hero member
Activity: 2352
Merit: 594
January 26, 2022, 10:41:07 AM
#52
I'm also more comfortable gambling with crypto because of the convenience that it provides as well as the anonymity and security that every gambler wants. It has the same risks when playing using fiat but its security has an edge. I also find it thrilling since blockchain technology is volatile so it's too challenging.

You have a valid point, but Lol gambling sites are now requiring KYC, so there is no longer any anonymity. Although crypto is excellent in terms of convenience, being fast and dependable, the real problem is the feeling one gets when entering a casino. I haven't heard of any casinos (actual casinos) that accept cryptocurrency yet; typically, crypto is used online, which I believe is the case for the majority of sites, but in real life, I haven't heard of any; however, I believe that using fiat on physical casinos is still preferable.
full member
Activity: 1708
Merit: 126
January 26, 2022, 09:41:49 AM
#51
I'm also more comfortable gambling with crypto because of the convenience that it provides as well as the anonymity and security that every gambler wants. It has the same risks when playing using fiat but its security has an edge. I also find it thrilling since blockchain technology is volatile so it's too challenging.
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