I was talking about top 10/more established alts and not some shit tokens. Name me one of top tokens/coins that you you think has no clear utility. When talking about money grabs, these casinos do not really need to build their own token to operate. They can just use other more established coins for rewarding gamblers or for their staking features.
We can analyze their use cases in the ecosystem, all casino coins have limited utility to use on the platform, even rewards are given to gamblers for top coins or stable coins. Based on the reference from CMC, the top gambling altcoin is FUNToken Rank #273 but the trading volume is still low compared to other altcoins. 
Topic: Investing in Casino tokens such as BFG, OWL or TFS - page 35. (Read 8200 times)
If we do try to look on overall utility of these gambling-based tokens then i dont really see for it to be needed but rather just an another money-grab by the team.Why the heck they would be creating it out for what? Functionality or usage on the site itself? We do have bitcoin and other top ranking coins listed or option so it is really just understandable that it wont really be getting much attention
for people on making use or buying those coins for the benefit on using it into its dedicated platform.As long it wont really be seen on other places then dont expect for such improvement
or popularity to risen up.Their prices is almost into the floor comparing into its previous ATH and i dont see the point nor being worth for people to make out some investment
with these gambling based tokens/coins.
Extra benefits inside the platform, just like a VIP program for loyal customers, so they increase their business' range to investors, rather than solely gamblers. From all casinos' tokens I prefer FUN, because freebitco.in offers benefits in bitcoin (extra interest rate), so you earn more bitcoins by investing in FUN, while also earning interest over FUN tokens during the period of time you choose locking your funds.for people on making use or buying those coins for the benefit on using it into its dedicated platform.As long it wont really be seen on other places then dont expect for such improvement
or popularity to risen up.Their prices is almost into the floor comparing into its previous ATH and i dont see the point nor being worth for people to make out some investment
with these gambling based tokens/coins.
On the other hand, I would avoid venturing myself with tokens which don't offer advantages in bitcoin for holders and investors. Bitcoin must be always the focus in crypto market, doesn't matter how high are the yields paid by altcoins' investments.
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These coins might be popular but I still prefer well-established altcoins over them.
These coins might be popular but I still prefer well-established altcoins over them.
What is your definition for a well established altcoin? Working product that gaining profit right? What exactly is difference between this gambling tokens that has already a utility on there working product casino to other established altcoins?
BFG - launched 2020
OWL - launched 2021
Compared to BFG, such altcoins are generally simply useless and can only be played in the development of new wallets and exchanges. Nobody needs them anymore.
All coins in the market have lost their 60-80% value along with Bitcoin. But compared to that, the price of gambling coins has not decreased much. But as the price of Bitcoin rises, so does the price of gambling coins. So I mean buy and hold gambler coins are more likely to profit than lose.
Gamblers didn't even care with the bearish market. The price of some gambling tokens can still remain stable compared with the price of majority of tokens in the market. This caused by the gambling platforms have active users. These users are actively using the gambling tokens to bet. Remember some gambling tokens were also offering staking program for their tokens which is good for the gamblers to earn passive income from their gambling tokens as well. 
I don't like buying casino tokens because it is subject to manipulation. I'd rather get into the chipsgg token scheme where Casino 's approach is rewarding token for every x amount of bet. In chips.gg, they don't sell token but reward them to their player. They do have a staking program of the earned token giving the stakes a dividend from the daily earnings of the Casino according to the percentage of their holdings from the total staked token. It wasn't selling at any exchanges but due to its staking program it does gives earnings to holders.
I just have some trouble understanding the need for casino tokens. It seems like adding an extra layer of risk to an already risky environment. Maybe they're hoping that people will buy in and raise the token value so that winners get even more winnings? The risk being that if the token value falls that they would win less. I assume the casino's control most of it and would be able to easily manipulate the price, so this appears to be another method of control where the casinos can set how much it's users are winning or losing by controlling the token's price. It could be a useful thing, but it seems a little too Luna like for my taste.
It seems very good to invest in this type of tokens, I do not know if the market continues to move in the same way as in 2017, but at that time the tokens were bought and put in Hodl mode, and I saw how many won when Bitcoin was increasing, All the Altcoins that were bought were a safe victory, and that is something that can be repeated, it can be a bit different, but the concept is the same, I see that it is not a bad idea of investing in those chips. All this is taken the corresponding risks, if I buy and go down price, it is one of the things that are more likely and if it happens the healthiest it is to wait until they recover and not get the money, the investment would not make sense.
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These coins might be popular but I still prefer well-established altcoins over them.
These coins might be popular but I still prefer well-established altcoins over them.
What is your definition for a well established altcoin? Working product that gaining profit right? What exactly is difference between this gambling tokens that has already a utility on there working product casino to other established altcoins?
BFG - launched 2020
OWL - launched 2021
Compared to BFG, such altcoins are generally simply useless and can only be played in the development of new wallets and exchanges. Nobody needs them anymore.
for people on making use or buying those coins for the benefit on using it into its dedicated platform.As long it wont really be seen on other places then dont expect for such improvement
or popularity to risen up.Their prices is almost into the floor comparing into its previous ATH and i dont see the point nor being worth for people to make out some investment
with these gambling based tokens/coins.
However, these tokens have a specific purpose. They are used in specific casinos. And very many altcoins, by and large, it is not at all clear why they are needed? Well, of course, if you do not take into account the obvious desire of the devs who organized them to get rich at the first possible pump. Turning them into bitcoin ethereum. Yes, how many of these coins have we all already observed and how they turn into a scam together.
Compared to BFG, such altcoins are generally simply useless and can only be played in the development of new wallets and exchanges. Nobody needs them anymore.
The same can be said about these tokens - most of the holders will sell them at the first pump. And they have no purpose other than to get money from investors. I agree that most altcoins are worthless, but these tokens look the same. And they use the blockchain - from one of these altcoins. It is better to use this altcoin than create another token. Compared to BFG, such altcoins are generally simply useless and can only be played in the development of new wallets and exchanges. Nobody needs them anymore.
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These coins might be popular but I still prefer well-established altcoins over them.
These coins might be popular but I still prefer well-established altcoins over them.
What is your definition for a well established altcoin? Working product that gaining profit right? What exactly is difference between this gambling tokens that has already a utility on there working product casino to other established altcoins?
BFG - launched 2020
OWL - launched 2021
Compared to BFG, such altcoins are generally simply useless and can only be played in the development of new wallets and exchanges. Nobody needs them anymore.
Casino tokens are only relevant for as long as the sites that they are linked to exist. What do you think happens to them if the sites suddenly disappear one day?
I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites which are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.
I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites which are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.
Exactly!
I don't invest in these token because I see the value in Bitcoin and all my investment money goes to bitcoin, but I'll give you a simple comparison of the two:
When you invest in bitcoin you risk that it goes down due to some external problems like war, or internal problems like the transaction bottleneck in the past or an exchange hack.
When you invest in a casino token you risk that:
casino goes bankrupt
casino gets banned in some countries
casino scams and gets bad rep
token gets delisted on some exchanges
all tokens take a hit because of a bitcoin drop or because bitcoin faces some problems mentioned above and drags the market down
and probably some more
From an investor's perspective, both of you are right... but why does everyone forget the fact that casino tokens are earned by playing in those casinos? We gamble, play our favorite games, and get something in return...
For example, staking BFG will give you passive income in BTC too, so it's a nice way to get your hands on more BTC on daily basis... and BFG price (as the prices of some other casino tokens) is pretty stable.
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These coins might be popular but I still prefer well-established altcoins over them.
These coins might be popular but I still prefer well-established altcoins over them.
What is your definition for a well established altcoin? Working product that gaining profit right? What exactly is difference between this gambling tokens that has already a utility on there working product casino to other established altcoins?
BFG - launched 2020
OWL - launched 2021
There's no point in comparing it to Bitcoin for obvious reasons our options are not only limited to Bitcoin-related investments.
True, but the risk if far greater in this case when compared to investing in popular cryptocurrencies which is why @coolcoinz makes a valid point.We can't guaranteed the profit for any cryptocurrency coins. But we can make some guesses. Gambling tokens can be a good way to get good profits. But we cannot guarantee it.
This logic applies to literally every single cryptocurrency out there. This entire market is an extremely volatile market where you should only invest what you are willing to lose at the end of the day. Wouldn't really consider those tokens on the same level or at least attribute the market that they have as the same as the market of Bitcoin. Those tokens are for casinos after all, and the market that they have is rather different from the investors and users of Bitcoin, not to mention that they're relatively less known compared to the big tokens. There's also the possibility that it's artificially manipulated since it's much easier to control the market for these kinds of tokens imo.
Plus, the token seems to be used on the casino itself for benefits, so that may be a reason for the increase in price, though it may just be temporary in the end due to a temporary increase in the amount of players/users.
Plus, the token seems to be used on the casino itself for benefits, so that may be a reason for the increase in price, though it may just be temporary in the end due to a temporary increase in the amount of players/users.
This makes sense- these tokens were primarily created by the gambling institution itself, so they are indeed in the risk of price/supply manipulation.
The difference between cryptocurrencies and casino tokens is that, the price is primarily determined by the supply/demand. The more people that use these currencies, the more the prices may increase/decrease, though the former is much more volatile compared to the latter. But you are right, they are subject to the risk of price manipulation since the one in control is the casino owner, himself.
I guess even if the prices of casino tokes kept on increasing, they are still entirely different from cryptocurrencies as a whole.
-snip-
The reputation of the casino site that they represent will reflect on their reputation as a coin so I guess coins linked to good casino sites have a good future but I think they aren't good for long-term investment especially if we seek assurance of maximizing our gains.
Reputation and utility. If the token is proven to offer good benefits to its holders within the casino, that would increase the demand among users of such service, helping the price to pump as well. Also, like the case of exchanges (Binance, for example), casinos can use some strategies like scheduled burning of tokens to help the price continue growing or to stay above a desired threshold.
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These coins might be popular but I still prefer well-established altcoins over them.
And makes sense, since crypto should be about decentralization and those casino tokens are obviously not decentralized.
Casino tokens are only relevant for as long as the sites that they are linked to existing. What do you think happens to them if the sites suddenly disappear one day?
I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites that are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.
I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites that are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.
The reputation of the casino site that they represent will reflect on their reputation as a coin so I guess coins linked to good casino sites have a good future but I think they aren't good for long-term investment especially if we seek assurance of maximizing our gains. These coins might be popular but I still prefer well-established altcoins over them.
which is on that investment part.
Gambling tokens/coins arent that bad of an option as an investment but not really that always where these people do make out such decision and its evident basing on these tokens prices
as of this moment.
Casino tokens are only relevant for as long as the sites that they are linked to existing. What do you think happens to them if the sites suddenly disappear one day?
I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites that are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.
I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites that are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.
The reputation of the casino site that they represent will reflect on their reputation as a coin so I guess coins linked to good casino sites have a good future but I think they aren't good for long-term investment especially if we seek assurance of maximizing our gains. These coins might be popular but I still prefer well-established altcoins over them.
I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites which are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.
I agree with you, if you're someone that wants to expand your portfolio and you think that one condition is that there's an actual business. So, aside from those token exchanges, an option could be those casino tokens from the popular ones. There have been attempts of having the same business model and tokenomics but majority of them didn't survived. So, those that are remaining and has a good volume and market capitalization for their tokens, there's a need to know about the basics of them before investing. But, I agree that do not gamble much with them if they're not that popular. 
OWL is actually down. You need to get your perspective fixed guys 
It did not lose a lot of value in the last 6 months because it was already down from its high in November 2021, where it was trading for 0,5 USD and in December it was back to 0,17 USD. That's more than 60% loss in value and it continued to go down because now it's 0,11 USD so it's down almost 75% from its high and that's more than Bitcoin. Saying that it's a better investment in these hard times and that it's being stable is far from the truth.
It did not lose a lot of value in the last 6 months because it was already down from its high in November 2021, where it was trading for 0,5 USD and in December it was back to 0,17 USD. That's more than 60% loss in value and it continued to go down because now it's 0,11 USD so it's down almost 75% from its high and that's more than Bitcoin. Saying that it's a better investment in these hard times and that it's being stable is far from the truth.
It went down from $0.50 to $0.17 at times when Bitcoin wasn't falling that much, right?
Possible to happen if you are holding casino token that has reliable business. If the casino shows good progress, the chance of your
Investment to grow is really high. You can say that the future is bright and adding more when you have spare is also a good choice
to do. Keep in mind that there are always good reason behind each project and casino coins, as utility can share investors passive
benefits.
It's normal you will see few token price aren't follow Bitcoin price since not all tokens will always stick with Bitcoin price. Probably not today, but tomorrow or next week the token price will follow Bitcoin price.
Either BFG, OWL or TFS are just same tokens that have a purpose to make people want to gamble on those casinos and they will offer some promotions depend on their project, but most of them offer dividend yield.
Either BFG, OWL or TFS are just same tokens that have a purpose to make people want to gamble on those casinos and they will offer some promotions depend on their project, but most of them offer dividend yield.
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