how big? - page 6. | Bitcointalksearch.org

Mauser

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Quote from: wozzek23 on July 13, 2020, 01:43:01 AM

Quote from: Vaculin on July 08, 2020, 05:51:59 PM

The article says one person has lose maybe at least $10 million in a casino from a poker game, I mean, how big we are already? I'm just amazed.

Can we just discuss the market size

I just want to share on few number where I really got amazed whenever I do check. The first one is freebitco.in; they are into crypto gambling industry for more than 5 years and the amount, they gave away is really massive one. Here are their stats to make you speechless:

Another one is what I come across last week which is a new casino and their stats on wagering amount really made me surprised:
https://bitcointalksearch.org/topic/m.53024378
Look into the date when this casino was announced here and the total amounts in bet. There must be at least house edge as sure shot profits which may sum in millions.

Windice is another new casino which is achieving 10 million bets consistently for every 10 to 15 days. By considering its age on this crypto gambling industry and its competition against primedice and bitsler, I am really wondering on the market size of this crypto gambling space.

215k BTC in 5 years is a crazy number. So assuming that the casino mainly used bitcoins lost by other gamblers - a loss of $10m doesn't seem so bit anymore as others must have lost many more millions on that site. But then again it's just an aggregate over a long period of time. I would assume that most people just gamble for a few hundred bucks.

spike420211

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Quote from: Lordhermes on July 10, 2020, 03:42:44 AM

People weren't thought that crypto gambling would go a long way as it is now, many set up of big companies chooses casino,poker as a means of easy placing of bets with crypto currencies. Loosing money on a daily basis by gamblers gradually determining how big the crypto gambling platform is now. So in future the value you mentioned above would be nothing compare to the ones in future.

All the meanings that we have now will probably seem ridiculous in the future, because humanity is growing and the economy is growing with it. Compare 10 years ago across all industries today.
Even a comparison with the current quarantine and pandemic times, these figures will be significantly higher than before. If things like viruses and wars do not hold us back, our growth will be frantic.

The only question is how much we need it.
The race of consumption is depleting the planet and individual countries on the verge of poverty. We are not trying to feed the whole planet using technology, but we are trying to make more money on anything.

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Quote from: matchi2011 on July 12, 2020, 08:55:49 AM

Good point, it's speculative since the business owners needs to keep information to hide away for government obligations.

They do operate legally. Point is they they would not "hide info" that would become illegal and the authorities would crack down on them. What they do is find loopholes in the system and honestly the governments make systems such that loopholes exist because they also want casinos to operate and generate the revenue taxation. But then why governments make these rules to make it seem that they are not allowing gambling? It is only to appease the people that they are strict and stopping vices. Thats the two sides of the coin.

Quote

But for sure this business is really bringing huge value as more and more gamblers prefers to play online especially now that physical gambling is not open due to this pandemic virus,

Actually the gamblers dont care about pandemic or so. They need to ease their desire to play and thus would do whatever is needed to roll the dice or spin the slots.

Quote

Expect more rise from this side of industry people are bored and find this venue to allocate time and money.

People run out of money too because many have lost their jobs already. Roll Eyes

wozzek23

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Quote from: Vaculin on July 08, 2020, 05:51:59 PM

The article says one person has lose maybe at least $10 million in a casino from a poker game, I mean, how big we are already? I'm just amazed.

Can we just discuss the market size

I just want to share on few number where I really got amazed whenever I do check. The first one is freebitco.in; they are into crypto gambling industry for more than 5 years and the amount, they gave away is really massive one. Here are their stats to make you speechless:

Another one is what I come across last week which is a new casino and their stats on wagering amount really made me surprised:
https://bitcointalksearch.org/topic/m.53024378
Look into the date when this casino was announced here and the total amounts in bet. There must be at least house edge as sure shot profits which may sum in millions.

Windice is another new casino which is achieving 10 million bets consistently for every 10 to 15 days. By considering its age on this crypto gambling industry and its competition against primedice and bitsler, I am really wondering on the market size of this crypto gambling space.

Debonaire217

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Quote from: Nellayar on July 12, 2020, 08:30:17 AM

Actually, it is already a cent to billionaires. If they don`t have anymore things to be paid or bought, they can gamble it.

It is not anymore for survival, it is only for their entertainment. Many people will probably bash a person who lose that kind of amount. Most of them will tell that if they were the player, they will help to the poor than to gamble it. But who we are to think that? Besides, casino`s have the largest tax paying company. And they gamble their own money. So, for me it normal as long as you gamble your own money.

Imagine, if they won? They probably walked out in casino with millions of dollars.

Look at this, https://www.casino.org/blog/10-richest-poker-players/

They are the people who have luck in poker and made them a millionaire.

It's a matter of risk that they take and we cannot blame them for their decision of betting that huge amount of money and then lost it. Besides, if they win, they can have more money to help others, and it is their decision whether to help others or not. The problem is when gambling casinos doesn't properly pay taxers nor, they run illegal business that has customers betting that huge amount.

Going back, believe it or not, most of the people today especially gamblers, treats cryptocurrency the same way as fiat funds, perhaps, they might enjoy it as they don't need to convert their funds to other currency as they can play already where ever they are with crypto. It's quite a bit complicated if a country is banned by the casino, maybe in crypto, they experience more freedom in gambling.

btc_angela

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Quote from: matchi2011 on July 12, 2020, 08:55:49 AM

Quote from: peter0425 on July 12, 2020, 05:00:04 AM

Quote from: Sadlife on July 09, 2020, 08:26:19 AM

There's no way to tell actually because there are no data available that analyze Crypto users and it's quite impossible to speculate the numbers due to Blockchain's decentralized nature.
I guess if an organization conducts an online survey i guess we could have an rough estimate.

There are but pure speculative mate so the thing is there are really no concrete data about the amount being spent in crypto gambling all those year.

and as if the Site will release the true income and expenses of each company if they do then they will be very vulnerable from government checking and explanations.

Good point, it's speculative since the business owners needs to keep information to hide away for government obligations.
But for sure this business is really bringing huge value as more and more gamblers prefers to play online especially now
that physical gambling is not open due to this pandemic virus,

Expect more rise from this side of industry people are bored and find this venue to allocate time and money.

We can only speculate, but usually we all know that gambler owners or operators are very successful. Yeah we don't know how many Lambos they own on their private garage. Grin

. And with the lockdown, we are sure that their business are booming and bringing more value to them more than ever. I doubt that gamblers here remain on a 'no gambling policy', I have this thought that at least everyone has played or put a bet during this pandemic to get that itch scratch.

matchi2011

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Quote from: peter0425 on July 12, 2020, 05:00:04 AM

Quote from: Sadlife on July 09, 2020, 08:26:19 AM

There's no way to tell actually because there are no data available that analyze Crypto users and it's quite impossible to speculate the numbers due to Blockchain's decentralized nature.
I guess if an organization conducts an online survey i guess we could have an rough estimate.

There are but pure speculative mate so the thing is there are really no concrete data about the amount being spent in crypto gambling all those year.

and as if the Site will release the true income and expenses of each company if they do then they will be very vulnerable from government checking and explanations.

Good point, it's speculative since the business owners needs to keep information to hide away for government obligations.
But for sure this business is really bringing huge value as more and more gamblers prefers to play online especially now
that physical gambling is not open due to this pandemic virus,

Expect more rise from this side of industry people are bored and find this venue to allocate time and money.

Nellayar

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Actually, it is already a cent to billionaires. If they don`t have anymore things to be paid or bought, they can gamble it.

It is not anymore for survival, it is only for their entertainment. Many people will probably bash a person who lose that kind of amount. Most of them will tell that if they were the player, they will help to the poor than to gamble it. But who we are to think that? Besides, casino`s have the largest tax paying company. And they gamble their own money. So, for me it normal as long as you gamble your own money.

Imagine, if they won? They probably walked out in casino with millions of dollars.

Look at this, https://www.casino.org/blog/10-richest-poker-players/

They are the people who have luck in poker and made them a millionaire.

tyz

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Quote from: Vaculin on July 08, 2020, 05:51:59 PM

-snip-
Can we just discuss the market size not the gambling addiction or anything related to that?

If a crypto currency betting provider like Sportsbet.io is the official jersey sponsor of an English Premier League club (FC Watford), this market must be very large already. It certainly costs millions to sign such a sponsorship deal and for this to be worthwhile a lot of money must be earned.

Becky666

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According to this news site,
The global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027
This amazes me seeing this industry as big as this, it could have be hard for me to believe anyone without reading this, hope to see big boys joining the industry for wider expansion. Also, hope to see the government look away from the industry regard to taxes. Cryptocurrency global adoption will skyrocket the online gambling casinos because of convenience in play anytime and anywhere with mobile phones.

kotajikikox

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Quote from: nakamura12 on July 12, 2020, 06:38:11 AM

The exact amount of money circulate in gambling is hard to know the exact amount and that amount of money is just a part of the total money circulates around. Do you know any platform that gathers the data about the money circulates in the casinos. Also some casinos accept both fiat and crypto.

Well maybe OP wanted to at least have an estimate about the circulating money/crypto in online sites casinos.
there are some good news about successful gambling sites like Bistler and other promoted site here even Fortune Jack and Yolodice is one of the best and profiting Casino here.
But Logging all the amount inside cannot be possible so yeah lets speculate and assume which and how much are there.

nakamura12

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The exact amount of money circulate in gambling is hard to know the exact amount and that amount of money is just a part of the total money circulates around. Do you know any platform that gathers the data about the money circulates in the casinos. Also some casinos accept both fiat and crypto.

Latviand

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Quote from: Sadlife on July 09, 2020, 08:26:19 AM

There's no way to tell actually because there are no data available that analyze Crypto users and it's quite impossible to speculate the numbers due to Blockchain's decentralized nature.
I guess if an organization conducts an online survey i guess we could have an rough estimate.

They are some crypto casinos that allowed anonymity to its customers so that it is not easy to have a statistic regarding that. But probably, it is huge, the market size of crypto gambling casino is large including those online crypto casinos. Maybe sooner or later we will have a precise and exact statistics regarding that market size that you are talking about.

We all know that gambling industry is well-known even in the old times, but right now, they are getting a lot of customers as gambling becomes a hobby and most probably an addiction.

That estimation that you are talking about will not be done when there's no one who are doing some researched regarding that market size in gambling industry.

peter0425

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Quote from: Sadlife on July 09, 2020, 08:26:19 AM

There's no way to tell actually because there are no data available that analyze Crypto users and it's quite impossible to speculate the numbers due to Blockchain's decentralized nature.
I guess if an organization conducts an online survey i guess we could have an rough estimate.

There are but pure speculative mate so the thing is there are really no concrete data about the amount being spent in crypto gambling all those year.

and as if the Site will release the true income and expenses of each company if they do then they will be very vulnerable from government checking and explanations.

fortunecrypto

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Quote from: Vaculin on July 08, 2020, 05:51:59 PM

I know this is an old article but I'm just surprised that crypto casinos is this big already.

The article says one person has lose maybe at least $10 million in a casino from a poker game, I mean, how big we are already? I'm just amazed.

Can we just discuss the market size not the gambling addiction or anything related to that?

There's already an illegal Vietnam casino where one player lose billion of their local money, we can say that online casinos are really huge but we still do not know of the exact yearly figure, because we have illegal online casinos operating in mainstream web and dark web and not to mention those on Dapps lists.

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Quote from: fortunecrypto on July 12, 2020, 01:50:29 AM

Quote from: Vaculin on July 08, 2020, 05:51:59 PM

I know this is an old article but I'm just surprised that crypto casinos is this big already.
The article says one person has lose maybe at least $10 million in a casino from a poker game, I mean, how big we are already? I'm just amazed.
Can we just discuss the market size not the gambling addiction or anything related to that?

There's already an illegal Vietnam casino where one player lose billion of their local money, we can say that online casinos are really huge but we still do not know of the exact yearly figure, because we have illegal online casinos operating in mainstream web and dark web and not to mention those on Dapps lists.

I wonder if that player is the richest person in Vietnam because they lose a billion.
But the number will be still a mystery because I don't think that people will say about how much money they already lost in gambling.
If he tells the number, I think other people will not believe, and even if they believe, they will judge that person because he uses too big money just to play gambling.
Or maybe that person has the addicted to gambling, so he doesn't realize that he already uses big money to gamble.
That is why we need to always concern about the money that we will use to gamble.

Russlenat

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Quote from: fortunecrypto on July 12, 2020, 01:50:29 AM

Quote from: Vaculin on July 08, 2020, 05:51:59 PM

I know this is an old article but I'm just surprised that crypto casinos is this big already.

The article says one person has lose maybe at least $10 million in a casino from a poker game, I mean, how big we are already? I'm just amazed.

Can we just discuss the market size not the gambling addiction or anything related to that?

There's already an illegal Vietnam casino where one player lose billion of their local money,

Is this the thread, https://bitcointalk.org/index.php?topic=5252383.0?
If so, well, I don't read that it's coming from one person only.

https://calvinayre.com/2020/05/31/business/vietnam-biggest-ever-online-gambling-bust/

Quote

Vietnam’s authorities have busted an unauthorized online gambling ring they claim handled bets worth nearly $3b before the whip came down.

That means the total bets, but the casino that was mentioned was an illegal casino, so it's hard to track their numbers.

Quote

we can say that online casinos are really huge but we still do not know of the exact yearly figure, because we have illegal online casinos operating in mainstream web and dark web and not to mention those on Dapps lists.

We need to also determine which are fiat or crypto casinos as OP was obviously asking the site of crypto casinos only, not the online casinos in general.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: virasog on July 10, 2020, 05:27:34 PM

Casino is one of the most profitable business and if we get this number, it may surprise many of us.

Another way to evaluate them is the number of lambos the owners bought. Grin

Honestly the casino business is a profitable one but it has its own downsides too. From a players perspective they dont mean much but they do mean a lot when you become the house.

Although the article is old, people who are addicted gamblers will always play no matter what happens to the world outside, they need their fix for the day. Professional games like poker of course gets a more amount of "ante" than others and thus the casinos do keep a lot of income.

Jating

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Quote from: iamsheikhadil on July 10, 2020, 11:30:11 PM

When I read the title of the topic, I thought you were talking about the size of *cough* arms. Grin

Yeah, crypto casinos are indeed growing very fast and it's only a matter of time before they take over a significant portion of the economy of many countries as well!

We have seen the crypto casinos is really growing big, we don't need to wait. Billions and billions of money are flowing and I won't be surprise if there are more investors similar to fiat based investors that are willing to pour a lot of money in online casinos because of a good profit in the end.

Quote from: iamsheikhadil on July 10, 2020, 11:30:11 PM

I wonder what it would look like if government also gambles with peoples tax money lmfao.

I doubt that government will involved themselves, they may take part of the taxes, similar to what they do with fiat based, but i don't know if this idea will sits well with crypto casinos.

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Quote from: Vaculin on July 08, 2020, 05:51:59 PM

Exec Embezzles $22M From ‘Influencer’ Marketing Firm, Spends Nearly Half on Crypto Gambling

I know this is an old article but I'm just surprised that crypto casinos is this big already.

The article says one person has lose maybe at least $10 million in a casino from a poker game, I mean, how big we are already? I'm just amazed.

Can we just discuss the market size not the gambling addiction or anything related to that?

This Link has been tackled here in gambling before right?about an employee that use the companies money just to sustain His gambling addiction>?or i may be wrong also.

Quote from: Vaculin on July 09, 2020, 04:55:20 PM

Quote from: travwill on July 09, 2020, 03:59:03 PM

I would like to look at the total income of all casinos not including the sale of alcohol and other goods.

Of course because I was only asking on the total size of the market for crypto online casinos, and gamblers can't buy goods when they are playing online.
Figure that is based on wins less loses on their part only, no other factors included.

Well i hope there is an accurate amount on this one because it is really interesting to find out how much money circling in Online gambling specially in crypto related betting.

Topic: how big? - page 6. (Read 1497 times)