Topic: Gambling with Fiat or Crypto? - page 14. (Read 3102 times)

For me, gambling online will be best if we utilize our technology to secure our security and privacy. Because we all know, most of the time, government doesn't like unregistered casinos, and they don't like people gambling either, so to keep us anonymous, use Cryptocurrency. In addition, we could win cryptocurrency and hodl it. In this case, we don't just win in gambling, but also in investment.

we often forget that fiat and crypto are somehow simmilar, in the sense that both are money
but definitely crypto has more potential to be higher valued inthe future.
so here's the matter of putting some weight on the decision.

I see no point in gambling simply to waste money or play, but gambling as a way of investment can be an interesting go to.

Gambling with crypto currencies is an attractive experience to feel. Indeed, winning in such bets will not only give double amount but huge profits with the passage f time because digital assets are the best investments too. If bitcoin will drop ten times its value, then it will be rising twenty times afterwards. That is the nature of this coin. No holder of bitcoin can ever suffer loss until he makes some blunders.

I prefer crypto honestly. Unless I would play with my acquaintance or someone I just know, then I would go for fiat. But if we're talking about physical casinos where I have to go where people in the higher class would go, I don't go there. I might end up not controlling myself. And I'm not that type of person. But with crypto, since I can do it anytime, anywhere, it's more convenient. I don't have to interact with people there. And I can compose and control myself more. I don't know... I just don't like meeting in person. I'd rather stay anonymous to other players.

With having this reality in mind that casinos are not a place where you will double your crypto currencies, it would be better to play with very small amounts then. Casinos live for themselves. If they start rewarding every gambler, then it would become more of a charity house. I am not against this approach. Businesses are supposed to be done this way. Gamblers should be careful with their bet amounts only.

Most of the online crypto gambling sites now ask for ID submission and they will have to go through the KYC process. This is because the casinos have to abide by the anti money laundering laws. There are sites that don't ask for KYC (yet). Crypto-games.net is one of them. You should give it a try.
I would still prefer gambling with crypto currencies even on a physical live casino. Every thing is more easier that way.

They have a double chance to increase their money as they can win and increase their btc and increase its value at the same time in the future.
However, I think they are also employing a risk management program to to avoid volatility on the portion of their coins they are holding, they maybe from time to time convert it to stable coin so the business would really last long.

What we are thinking is the positive scenario only, what if BTC will drop 10x and that would hurt the bankroll of the gambling sites as gamblers are still gambling based on its fiat value although they are using btc as a tool to gamble.

Exactly and this makes the casinos a win win situation because not only they are gonna win in the long run, in long run, Bitcoin prices may double or even reach moon, and that can easily make the casino owners billionaires

Since you said that it was online, for me gambling using crypto is better than fiat. When you are gambling online using fiat, you need to do many things before you deposit your fiat money to your site and the anonymity of it is very low unlike gambling in crypto where nobody knows who are you (unless you submitted KYC to the site itself). For me, gambling with fiat is for the casinos only and gambling with crypto is for the online gambling websites .

its easy to say to collect crypto but in reality, we are the one helping the casinos to collect crypto from us, its their business and they are profitable in this kind of business so we can't win against them. Maybe there are few who have the skills but they are literally few, one thing I know is that there is an increase of users in the crypto gambling and that's a good news for the crypto market as a whole.

I think it's only a few of them will have the opportunity to earn as much cryptocurrency from betting. We know that gambling with fiat or crypto will not give much money unless we have the luck that will provide a way to win. No matter what, they will lose from little amount into a big amount without they can realize. I think more people will choose to gamble with crypto because they can hide their identity from the site, and they have a random coin to be used for bet.

Or people use to think it's anonymous, but as soon as you try to exchange with fiat, you hit the KYC wall... then all your historic transactions are revealed.
Unless ofcourse you never exchange for fiat... that might be a viable option in the future if more stores start accepting BTC.

If you want to maintain privacy, cryptocurrency is the right choice.
Crypto is anonymous, allowing users to maintain their privacy as gamblers. The use of cryptocurrency as a currency that can be used to bet will not make gamblers think about prices. But IMO, they only think about how to collect as much cryptocurrency as possible through betting.

Yeah, this is your own choice as to if you feel comfortable with fiat then you can gamble with fiat and if you like to gamble with crypto then you can use crypto for gambling. For online we will need to have crypto like bitcoin etc and in the regular casino, I prefer using fiat as for them it’s reliable to use fiat instead of crypto so keep both in your pockets while gambling.

Agree. There's no need for KYC in online gambling sites which accept cryptocurrencies. That's a plus, since this way, governments will be unable to truly track the gambler in order to obtain tax from his/her earnings. Of course, we cannot discard the possibility of governments enforcing KYC/AML rules on crypto gambling sites as well, since they've already been successful doing so at centralized exchanges.

Despite this, I believe that crypto provides far more benefits than Fiat in the online gambling industry. With crypto, it's possible to send/receive micropayments providing a greater level of flexibility to both the gambler and the casino owner. The benefits are greater with fee-less cryptocurrencies like EOS, Steem, Nano, and IOTA. Once you start gambling with crypto, you experience a whole new level of possibilities that were not possible before with Fiat. It feels good to be anonymous using crypto when betting on an online gambling site. Even with Bitcoin's pseudonymous nature, it's possible to obtain anonymity via other means.

Nonetheless, with the many benefits crypto provides on top of Fiat, I believe that it'll transform the gambling industry for the better. Casino operators will find crypto attractive than Fiat itself because of its benefits. Eventually, we'll be able to see physical casinos accepting crypto by a large scale. At least, we'll have many options to choose from in the online world of gambling. Just my opinion

I'm not even sure that people who play in physical casinos will like crypto to gamble there. And in my opinion the physical casino can't be compared to the online casino system because it's clearly different. But crypto gambling sites are still superior here compared to fiat gambling sites.

I am sure he will like crypto as the payment because, with crypto, he doesn't have to worry about sending his coin to the gambling site. Besides that, he will see that when he deposited the coin to his account in the gambling site will be arriving in less than one hour. That person can feel free to play without using his real name because many gambling sites can hide personal identity without sending any document.

Everyone can testify the difference of local gambling to crypto gambling and I think most of the experiences here are great. There are obviously bad experiences but it's part of our journey.

But today, we can say that it's really convenient to gamble at home and with crypto. No need to verify yourself and get into KYC unless the casino you're playing asks you to.

Depending on your nature, crypto gambling is the right thing for you. If staying alone, making bets and enjoying outcomes is you style, then you must be glad to have digital currencies around. The most amazing thing about this is the winning are not merely winnings but an investment in themselves. If you gamble with bitcoin, then no doubt your winning will increase in their worth over time.

Well, it depends on what people like. Both currencies are useful I guess, and it doesn't matter if that is digital or physical. You can't probably the digital in live casino nor maybe fiat you can use in an online gambling casino. But as of now, there are numerous numbers of gambling sites growing like a mushroom because of cryptocurrencies that easy to use in gambling and fast transaction. So, there is a chance that digital currencies will lead as a huge number of users in gambling and I prefer into it.