Topic: how big? - page 9. (Read 1478 times)

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?

and like what the first poster says as my understanding,the Man is playing in Fiat not in cryptocurrency,he just funded the account to continue playing.

But if each gambling sites will let people know how much money circulate inside their platform?then maybe we can evaluate each amount and tallied everything for the records.

Unfortunately until now there is no valid data related to the circulated of money in crypto casinos, it must be very large. In the bitcointalk
forum, only gambling signature campaigns dare to pay with Bitcoin. This is proof that the crypto casinos market is very large, and I'm not
surprised someone has lost up to $ 10 million. Maybe this happens because the number of gamblers addiction is increasing.

The guy embezzled millions from his former employer, it's easy to gamble with that money, probably he knew they will catch him eventually, so he wanted to have as much fun as he can! Last night I watched Castle (crime comedy TV serial) and there was a guy who took some bag with 75k, he went straight to Atlantic City, and when they got to him he said: "The best 3 days of my life"! It's not the same when you gamble with your hard-earned money, and when you gamble with money you stole!
And yes, crypto gambling is growing, and that progress is visible for us who gamble here for years. Anonymity and easy access are two main factors why crypto gambling will continue to grow!

The online gambling industry is kinda huge right now. People have already developed online gambling for decades and since the cryptocurrency was created, many parts of this market move to crypto gambling. As you can see, we have like a thousand of gambling site in this forum, also there are many other platforms which accept cryptocurrency as a form of payment

Cryptocurrency provides us a technique to mostly become anonymous while playing gamble. It also faster, more convenient, and effective than other kinds of gambling which is strictly controlled by the laws and rules of one's country. Even though I know that the gambling industry is big, I am still shocking after hearing this guy used more than 10$ million in order to play crypto gambling. With all of my respect, our crypto gambling market will continue to grow and expand

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

That number will grow from time to time, and no one will imagine how big the gambling industry will grow. When young people become adult people and they attract to gambling games, that will make the number will increase so big. That is why the gambling industry can still survive, whether it's offline gambling or online gambling because the number of people who come to the gambling games will always increase.


Spending $5 but every day that means a lot of money in a month. Yes, you have the right calculation. No wonder that many people regret when they see how much money they use in a year. It's not a big deal for them if they don't calculate or don't think about the money they will spend, but still, that is big money for some people.

We are talking of mere millions here. So that's basically a small percentage as far as the entire crypto gambling industry is concerned.

Consider this article "Bitcoin Gamblers Have Wagered $4.5 Billion in BTC Since 2014" written in 2017. This was around 3 years ago and it already talked about Bitcoin gambling reaching as high as $4.5 Billion.

We are not yet even counting the wagers done in ETH, DOGE, LTC, XRP, and so on. As a matter of fact, on the Tron Blockchain alone and within 2019 only, it is being revealed that around $2.8 Billion are transactions related to gambling.^[1]

That is how huge the crypto gambling industry is. And still fast growing.

[1] https://medium.com/@LunarCRUSH/the-billion-dollar-industry-cryptos-been-waiting-for-48be2ae2c4cd

The overall growth of the gambling industry totals to around ~$440 billion last 2018. If you were to take into account just online gambling, it'd come close to around ~$50 billion. That's already pretty huge, considering the time that online gambling has been around, and the dominance of physical casinos in the past. It's also expected for gambling to grow to close to ~$550 billion in the year 2022.

It isn't really that questionable as to why the industry has grown so big already. Gambling has been around for centuries, and it has only grown more since compared to back then. The gambling industry is literally the industry that revolves around money. Not to mention the ones that are addicted to gambling, even rich people that have no idea where to spend their money can just willy nilly gamble around and have fun. Their expenses are pretty much similar to a single drop in an ocean.
Source:
https://www.businesswire.com/news/home/20190606005537/en/Global-Gambling-Market-Reach-565-Billion-2022
And that's why gambling is scary. Let's say that you enter the casino every day, but you limit your spendings to $5. It may seem small, but with time, that amount would only grow bigger and bigger. A week, and you would've spent $35, a month, and its $140. a year and its what, ~$1700?

One person can lose so much money because he doesn't use big money in just one day or one week, but he uses small money, and he uses another money to gamble. If we calculate how much bigger the money that we use, yes, we can be amazed because that money can be used for buying something. And $10 million in a casino is not big, but for one person, that can be a big number. Gambling industry is a big industry which accumulating big money that has been used by the gamblers, and that number still growing every month.

 i didnt read this before so dont mind the date if its old or not  but its already a comon sense that gambling market are huge   . everyone knows that   .

before there is a huge money floating around a traditional casino's but now that there are cryptos  , this adds another money on the gambling space   . never saw someone betting 10m usd before in fiat form but i see many whales betting over 30 btc on 1 game  .  

The gambling industry is huge, that is why it plays a big role in the economy as a whole. Just imagine the amount of money that gets in and out not just in a land-based casino, also in online gambling. The government gets a huge amount of tax from the casino, and not to mention casinos also serve as a tourist destination or spot.

As time goes by casinos will grow bigger and I guess that includes online gambling since the pandemic had somehow restricted physical contact.

If you will compare that size of money that has been used for gambling to the total amount of money that is being gambled, that is just a tip of the iceberg. That is relatively small since we know already that there are many gamblers worldwide.

Also now that we are in a pandemic, more gamblers will gamble online since they can't go out to play in a casino. Maybe right now they are playing poker online . Even we are facing a pandemic, many gamblers are still gambling for some reasons.

Crypto base casino are really taking the gambling world into the next level. A lot of competitions and there might be a few unheard casinos as well that is thriving that we are not aware of. Familiar names and new are just popping up everywhere trying to get a piece of this billion dollar industry.

So I will not surprised if we hit a numbers similar to fiat base casinos as more gamblers find it easy to really just play crypto more at the comfort of their homes.

The gambling industry has grown very fast after the introduction of bitcoin in the market. Those who never thought of gambling came into this field only after the introduction of crypto currencies. It's hard to imagine how big is this industry and it will continue to grow in the coming years.

Monetary expansion I would relate that too, the value stated in crypto is not on a 1:1 ratio with FIAT exactly.   Advertising is one of the first places to observe monetary velocity because it relates to prospective business and the desire and capacity to raise sales with production.   Before crypto came along people used to say the whole internet online economy was funded by advertising revenue, without that it would be devoid of money for running sites pretty much, we have more then that today as well as crypto itself as its own defined value exchange.   If you want to withdraw all your wealth from crypto back to FIAT, there are charges and delays to doing so most of the time which means the two values have different dynamics.  I personally prefer to just keep the crypto value within this economy and not be swapping it back and forth, a gambler will use money for crypto gambling and just use their FIAT for paying the bills.   Hence I think the crypto could be seen as more expendable, this gambler hoped to risk the original amount gain 100% and place back the amount he took without anyone noticing or complaining.  Unfortunately he lost and its now a big fraud but the size of advertising bill is believable.
   I have four figure sums just for in game items that I can hold or sell, in theory I can swap them to a crypto value or even FIAT but doing so is not a perfect process.  In the end I just hold them and wait for the market to develop, holding any value can be a kind of gamble because the market for crypto, for various assets and even for plain cash can decline.  

Huge amount indeed.

Actually what made crypto casinos successful is due to the volume of gamblers, unlike in fiat casinos, they require a big minimum and transaction is costly.
In crypto, let's say you have $10, you can already enjoy and imagine how many small time gamblers they would attract with that.

so no doubt that crypto casinos will continue to grow and I also believe they already hit at least a billion dollar industry now.

I am also aware of the how fast the crypto casinos grow. It was first Primedice, Stake now Roobet, the total turnovers are more than what I have thought. I was curious about the competitions on the "games and rounds" board and decided to check one. The Yolodice has announced new low number hunt competitions a week ago with 20 ETH prize pool plus the 50% profit of casino. At the end of contest, the total prize pool has climbed to 64 ETH...

So we can assume that they are already a billion dollar industry, and they are rising fast since their less regulation in making casinos in crypto that's why we are also seeing some casinos which just popped up and they are gone.

I think you are right with freebitco.in, it's already big and if we combined them with casinos listed in the forum, I believe they would already total in at least billion of dollars in revenue?

and the problem is, we have no way of tracking these crypto online casinos because their figures are not available. especially those unlicensed casinos. but yes, it is already huge. consider freebitco alone. operating for so many years. that's one casino only. how much more if we added the popular ones here in the forum running for number of years.

Online gambling is a billion dollar industry as well, (fiat/crypto).

https://www.statista.com/statistics/270728/market-volume-of-online-gaming-worldwide/

It's in the tune of $40-$50 billion, so that's a huge amount of money, of course it is still dwarfed as you compare it to land base casinos, but still online gaming is really getting popular and there are predictions that it can swell to double figures in the next 5 years.