We may not exactly know the market size but definitely, online gambling is earning a lot. Just like in a physical casino, they pay a huge amount of taxes because they are earning a lot. So it's kinda same with online casinos. If a single person can actually spend such a huge amount, what more for hundreds or thousands of players they have. Since there's still anonymity, some crypto gamblers are not afraid to spend tons of money on gambling, especially if the money they are using is not actually their own money.
It's just shocking how that person used his knowledge to fake transactions and transfer money in his personal account. With that huge money, it's obvious how he will get caught.
Topic: how big? - page 8. (Read 1497 times)
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.
I guess if an organization conducts an online survey i guess we could have an rough estimate.
But if you read what the OP has said,
"Can we just discuss the market size not the gambling addiction or anything related to that?"
He is asking our opinion about the market size of crypto related gambling that's why members reply with that in mind, with data and with their opinion. Crypto related online gambling has move and really grow in the last 5-9 years already. And this numbers are not going to stop anytime soon even if we are in the pandemic or not. There will be always be gamblers around, suckered into a world wherein it's really hard to get out, specially if you become addicted.
"Can we just discuss the market size not the gambling addiction or anything related to that?"
He is asking our opinion about the market size of crypto related gambling that's why members reply with that in mind, with data and with their opinion. Crypto related online gambling has move and really grow in the last 5-9 years already. And this numbers are not going to stop anytime soon even if we are in the pandemic or not. There will be always be gamblers around, suckered into a world wherein it's really hard to get out, specially if you become addicted.
Right now, I am scared to gamble $1K, and he did place almost $8.5M in his cryptocurrency betting. That is just surprising and a bit sad since that is a lot of money. Though he did that for some years based on the article so maybe he's putting $1M to $2M a year? Still, that is just surprising.
In terms of how big, I guess this answers it.
In terms of how big, I guess this answers it.
Haven't gone through the article yet but am wondering if spending/losses happened on a single day, or multiple days/months/years? And does the article also factor in the deflationary nature of the cryptocurrency or token the player was betting with? An equivalent of 0.01 btc bet 6years ago would be worth more now.
Addiction is definitely a reason one would be reckless with money. It can be really bad if you are addicted to bad/unsafe things.
Addiction is definitely a reason one would be reckless with money. It can be really bad if you are addicted to bad/unsafe things.
Volatilities also affects the actual amount of value where crypto casinos might already have. But the factor that really
hint is the popularities of the house, this venue of gambling already have a lots of
gamblers who spend money and since there are numbers of gambler when summing
it up it will turned to a huge value.
Gambling industry is one of the place where huge amount of money is getting circulated, millions of money given as rewards for lottery winners everyday which means the lottery owner should be making in billions.It is not possible to calculate how much money is circulating all around the world related to gambling.
no not everyday but the reward depends on the platform and on the players playing . for lottery prize pool resets after every win so you cant say that there are millions on it all the time . most lottery are also government based and the total earning wont go on them but on the government , million prize are going to the winners too not on the operator . there are illegal gambling too and thier income is hidden so its not possible to calculate all money here in gambling .
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I don't think the recent replies in this thread have read the real article. Because in fact, the article states that a man steals from a company just for his gambling addiction, and not losing in gambling in general. It's just funny that they kept replying without further reading the articles indicated in the OP lol.
I almost follow the replies when i read your post and checked the link
Actually that same story has been topic recently in this gambling section but maybe this thread comes from different approach.
Spending companies Money is really not a good sign of being gambler.
Some can say Billion while others trillion but as what you said we can only estimate so still you can agree in one while others will oppose.
It could be billion but it can't be trillion because crypto casinos cannot be bigger than the popular fiat online casinos and sportsbook .
here's some figure on online gambling market in US alone, we can use this as a reference as per report, USA had the biggest market.
[source] https://www.grandviewresearch.com/industry-analysis/online-gambling-market
We can only get an estimate, not the exact figure and asking the gamblers will take time and it's impossible to get a close data, the best provider of data are the gambling sites if they are willing to divulge how much they make.
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And I think I already found some good answers above, they said it's billions which I agree with.
Some can say Billion while others trillion but as what you said we can only estimate so still you can agree in one while others will oppose.
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I don't think the recent replies in this thread have read the real article. Because in fact, the article states that a man steals from a company just for his gambling addiction, and not losing in gambling in general. It's just funny that they kept replying without further reading the articles indicated in the OP lol.
IMO, the addiction that led to a crime the man committed was common as many gamblers, online or land-based, were doing everything just to fulfill their gambling satisfaction, yet the guy went too far by stealing a company's assets and linking them onto his accounts just for gambling purposes. And yes, it was a huge loss not only to the man but also to the company he stole those funds from, nearly $10M. But the article didn't indicated that he loss, he just funded approximately $8M for his gambling accounts.
Haven't gone through the article yet but am wondering if spending/losses happened on a single day, or multiple days/months/years? And does the article also factor in the deflationary nature of the cryptocurrency or token the player was betting with? An equivalent of 0.01 btc bet 6years ago would be worth more now.
Addiction is definitely a reason one would be reckless with money. It can be really bad if you are addicted to bad/unsafe things.
Addiction is definitely a reason one would be reckless with money. It can be really bad if you are addicted to bad/unsafe things.
It's not about how big we are but it's about how people can go that far due to gambling addiction.
We have read several news like this in the past that they have used others money for them to gamble and it's not just about hundreds of bucks, not thousands of dollars but can go that far up millions of dollars.
We have read several news like this in the past that they have used others money for them to gamble and it's not just about hundreds of bucks, not thousands of dollars but can go that far up millions of dollars.
Crypto casinos are really getting big and popular all over the world because there are also more people who get into cryptocurrencies everyday, and most of them are gamblers, that is why crypto casinos has a massive numbers of players and millions of dollars circulated in their casino.
Gambling industry is one of the place where huge amount of money is getting circulated, millions of money given as rewards for lottery winners everyday which means the lottery owner should be making in billions.It is not possible to calculate how much money is circulating all around the world related to gambling.
It's not a secret that gambling is a big industry and for some countries it's one of the biggest tax contributor. For sure crypto gambling casinos generate tons of money as profit since more people are lured to gamble in their sites as they have the luxury of gambling in their own homes while remain anonymous. I even think that online crypto casinos is the biggest driver of the use of cryptocurrency as without them, usage of crypto is limited.
Crypto casinos are really big.They have paid out some multi million dollars jackpots already so it is only natural that people in this zone will continue to grow in number of players and this is also translated into more money poured into it.You should not be amazed right now as Bitcoin is around since January 2009.
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?
From what i understand crypto gambling cannot be accounted so how can we talk about the size of gambling in this market when we have no place to get data?there are so many gamblers around the world that i believe enjoying Crypto casino but we can't just ask them how much they won or lose right?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?
And I think I already found some good answers above, they said it's billions which I agree with.
Gambling industry is one of the place where huge amount of money is getting circulated, millions of money given as rewards for lottery winners everyday which means the lottery owner should be making in billions.It is not possible to calculate how much money is circulating all around the world related to gambling.
no not everyday but the reward depends on the platform and on the players playing . for lottery prize pool resets after every win so you cant say that there are millions on it all the time . most lottery are also government based and the total earning wont go on them but on the government , million prize are going to the winners too not on the operator . there are illegal gambling too and thier income is hidden so its not possible to calculate all money here in gambling .
yep its billions of dollars. its even more now because coronovirus and all casinos were down for weeks if not monts, Also just look at bets for some of tese csainos
Lockdown has changed the scenario in the gambling field. Now online suddenly has boomed during this lockdown and people have started spending more time int he online gambling then before. Eventually they would have lost or made money but for sure online gambling sites during this period would have made money with the increased number of users everyday. How big this could be would not be known till anyone shares their data.
This is not new because today when we are on the pandemic outbreak we have a bad experience and some of the casinos are already close and still not want to open yet because they want to avoid getting infected on the people and also they just need to protect their place having a temporary closure is better than having a permanent close on your business that can ruin your entire life of making more money.
Today most of the people are want to play gambling but the problem is the casino is close despite this many people are still want to make more money and enjoy those game like in gambling so now most of the people today are playing online because this is the same but the difference is there is no ambiance came from the casino and you can make easier and relax on it.
Today most of the people are want to play gambling but the problem is the casino is close despite this many people are still want to make more money and enjoy those game like in gambling so now most of the people today are playing online because this is the same but the difference is there is no ambiance came from the casino and you can make easier and relax on it.
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?
Gambling industry is one of the place where huge amount of money is getting circulated, millions of money given as rewards for lottery winners everyday which means the lottery owner should be making in billions.It is not possible to calculate how much money is circulating all around the world related to 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?
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