Is blockchain gambling business beneficial?

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Quote from: noormcs5 on July 01, 2019, 10:50:24 AM

Quote from: Nellayar on June 18, 2019, 05:35:44 PM

Quote from: bvyvjdidn on June 12, 2019, 12:12:51 AM

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

Yes! It is worth and valuable in gambling. Blockchain together with cryptocurrency makes gambling more interesting. Imagine, we can make money using cryptocurrency and gambling. In addition, there are also people who engage in gambling because of cryptocurrency. Just like me, Supposedly I do not know that there is online casino and I found it when I am using cryptocurrency.

I too think that almost 50% of the gamblers are those who enter in gambling because of bitcoins. Before the crypto, the craze of online gambling was limited and people were not very eager to spent their credit cards in online gambling. It's the bitcoin and crypto due to which we have seen a lot of growth in the gambling industry in last 2 to 3 years.

Yes. With the presence of blockchain technology in gambling, more people are now becoming gamblers not just because of fun and being anonymous, but also with the big profits it bring. This blockchain gambling business might be beneficial to most of us as long as it's not abused totally.

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Quote from: Naida_BR on July 01, 2019, 12:23:47 PM

Quote from: bvyvjdidn on June 12, 2019, 12:12:51 AM

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

In terms of economic growth I wouldn't say that it is beneficial.
However, it is an industry that it is reformed by the blockchain technology and it has a lot of gains since its initial start. We actually don't get any value from those casinos. They are just beneficial for bringing mass adoption.

That is true, gambling add nothing to the gdp of any country because it is like recycling of funds within the economy.” Economic growth ” is as the result of products and services why gamble and casino add not to productions and services. For those that are into gambling business I think blockchain do help them and that is why we are seeing many gambling business adotpting blockchain technology.

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Quote from: bvyvjdidn on June 12, 2019, 12:12:51 AM

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

In terms of economic growth I wouldn't say that it is beneficial.
However, it is an industry that it is reformed by the blockchain technology and it has a lot of gains since its initial start. We actually don't get any value from those casinos. They are just beneficial for bringing mass adoption.

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Quote from: Nellayar on June 18, 2019, 05:35:44 PM

Quote from: bvyvjdidn on June 12, 2019, 12:12:51 AM

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

Yes! It is worth and valuable in gambling. Blockchain together with cryptocurrency makes gambling more interesting. Imagine, we can make money using cryptocurrency and gambling. In addition, there are also people who engage in gambling because of cryptocurrency. Just like me, Supposedly I do not know that there is online casino and I found it when I am using cryptocurrency.

I too think that almost 50% of the gamblers are those who enter in gambling because of bitcoins. Before the crypto, the craze of online gambling was limited and people were not very eager to spent their credit cards in online gambling. It's the bitcoin and crypto due to which we have seen a lot of growth in the gambling industry in last 2 to 3 years.

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Quote from: Ucy on June 26, 2019, 02:18:34 PM

You think STO funded "blockchain" will be censorship resistance? I do not think so. It will probably be allowed to exist like real blockchain in short term and eventually be turned into a centralized platform bringing back most of the problems that exist in centralized gambling

Every STO is nothing new to the ICO scheme. People tend to think that because they are security tokens they are ensured. They are not and neither are their money safe. Crypto is still a grey area for most people and law enforcement about what to do in case of theft of funds.

We have gambling projects setting up ICOs - which is enough to fund them. No need to another STO for the same. Taking into account that most people who are investing in gambling sites are gamblers themselves, hence they would not want a KYCed procedure to invest. Thus I believe even though blockchain associated with gambling is a revolutionary concept, it is more of a "privacy needed for gambling" thing.

TIDOVEE

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every gambling usually have two sides,
its either you gain or you loose. though sometimes one may lose yet you enjoyed it,i think that is more important.
Blockchain gambling business could be highly beneficial as long as it is on your favour. as beneficial has it may be, some will not find it easy with the lose.

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Quote from: Tungsten-1 on June 19, 2019, 10:40:39 AM

Quote from: rosezionjohn on June 18, 2019, 11:15:30 AM

The fact that nobody controls the outcome in blockchain gambling is good enough reason to call it beneficial imo. Add to that the easy deposit and payout.

This blockchain industry is going to be the trillion dollar channel in future. Think of STO making use of blockchain, ETHEREAL blockchain being used by banks, and so many. Blockchain gambling is full of profits when it comes to be an investor or a gambler. In 2014, Bitcoin gamblers had wagered as much as $4.5 billion which has raised exponentially these past years.

You think STO funded "blockchain" will be censorship resistance? I do not think so. It will probably be allowed to exist like real blockchain in short term and eventually be turned into a centralized platform bringing back most of the problems that exist in centralized gambling

Irvinn

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I think that the answer to this question can be given by the entire bitcointalk forum and the presence of advertisements of all online casinos on it. This is not only a profitable business, but also quite popular entertainment among users of cryptocurrency.

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Quote from: kaya11 on June 18, 2019, 10:42:11 PM

Quote from: bvyvjdidn on June 12, 2019, 12:12:51 AM

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

It is a waste of time and money I tell you the truth for the people who are addicted on gambling. It is beneficial only for the workers, it gives jobs, therefore could be a nice contributor to the economy's growth.

Aside the job that blockchain technology create generally and not just in gambling, it will actually still be beneficial to gamblers whether addicted or not addicted gamblers because it will create a peer to peer game where you can confidently play your gambling game without the fear of being cheated or not being paid.

With blockchain tech used for gambling, there will be less scam as regards rewards given, and I think this is even where blockchain will function most, I mean in the gambling industry, and with blockchain technology, most gamblers remain anonymous for life without the fear of government which also means more gamblers, more money for the gambling sites, hence I guess it’s the reason why you believe that it will favor workers more.

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Quote from: bvyvjdidn on June 12, 2019, 12:12:51 AM

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

I think how a person adopt the situation is the matter otherwise no one will easily find the success in gambling field but some of the people using the field after gambling to be a beneficial one it will be suitable for such people only.

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Quote from: imstillthebest on June 19, 2019, 03:14:58 AM

Quote from: bitgolden on June 19, 2019, 02:45:53 AM

Quote from: Fredomago on June 13, 2019, 03:23:25 AM

Quote from: ethereumhunter on June 13, 2019, 01:15:17 AM

The benefit of blockchain is people don't have to use their money to play gambling, that is for sure. They can hide their identity while they are playing gambling, and they can feel safe to play gambling without anyone knows. I am sure that in the future, there will be many other platforms that will support the gambling games, and we will going to see the gambling business will grow fast in the future.

That's one of those thing that people wanted to support this industry using blockchain system to hide their identity while enjoying the gambling industry,in the near future more and more gamblers will see this advantage and begin also to support this types of system.

That’s actually the reason I supported blockchain also, as a matter of fact I got fed up with traditional casinos with its stressful demands of always asking players to provide different kinds of document to create and very an accounts and that process was just too long and time consuming

I am more than pleased knowing that blockchain came with solution to this process that can expose our information to hackers, at least now we play games with all our private details hidden and without fears like it was with the old traditional casinos.

traditional casinos dont ask for any documents before you can play inside but they will only ask a kyc if ever there is a problem with your account or if you are going to transact higher amounts , this is the same as what see online or on online gambling casino that is blockchain based because they do also ask for a kyc . we cant call blockchain gambling anonymous due to kyc , site sign ups , and the crypto coins that we use . all these three factors can expose our identity .

It is not convenient way to play with high bankroll and expect noone will ask about the identity on ordinary casinos. There are dozens of gambling sites which look for special excuses in order to freeze the account balance for asking KYC documents. Anonymity is the biggest reason behind the popularity and demand of blockchain based gambling.

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Quote from: Fredomago on June 15, 2019, 12:07:30 PM

Quote from: mersal on June 15, 2019, 11:02:52 AM

Quote from: bvyvjdidn on June 12, 2019, 12:12:51 AM

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

Gambling is a very profitable business idea but not all the gambling sites are in profits now so it depends on how you are running the games.More the players are there then more the profits you can make which needs good advertising strategy,wide choice of games,wide choice of crypto currencies and better customer support.

More players more potential to earned from your business but due to many competitions its hard to earned gamblers trust, many reputable
sites already got the advantage since they established good connections from their regular players, if you wanted to compete from them many
additional ideas and more attractive offers to have.

I have one very strong believe that the road that leads to success is always paved with unfair advantages, let me be clear on this statement in respect to your comment, having new ideas like you said is really a good thing that would make the smaller side get a great competitive advantage over this long existing sites that we might think have built a strong brand name.

Have you ever wondered why so many people get scammed on new sites daily, the reason is because there is an advantage the new sites gives to customers to buy their trust and make it inviting to ply on, and the whole idea is focusing on the weakness of the competitor and they build on it.

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Quote from: Tungsten-1 on June 19, 2019, 10:40:39 AM

Quote from: rosezionjohn on June 18, 2019, 11:15:30 AM

The fact that nobody controls the outcome in blockchain gambling is good enough reason to call it beneficial imo. Add to that the easy deposit and payout.

This blockchain industry is going to be the trillion dollar channel in future. Think of STO making use of blockchain, ETHEREAL blockchain being used by banks, and so many. Blockchain gambling is full of profits when it comes to be an investor or a gambler. In 2014, Bitcoin gamblers had wagered as much as $4.5 billion which has raised exponentially these past years.

Everyday we are seeing mini e gambling sites on poker sites coming to this market.we could not consider all the projects of a stem as well as we could not confirm all the projects are legitimate.

Raising the funds is not a matter for gamblers.

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Quote from: rosezionjohn on June 18, 2019, 11:15:30 AM

The fact that nobody controls the outcome in blockchain gambling is good enough reason to call it beneficial imo. Add to that the easy deposit and payout.

This blockchain industry is going to be the trillion dollar channel in future. Think of STO making use of blockchain, ETHEREAL blockchain being used by banks, and so many. Blockchain gambling is full of profits when it comes to be an investor or a gambler. In 2014, Bitcoin gamblers had wagered as much as $4.5 billion which has raised exponentially these past years.

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Quote from: bitgolden on June 19, 2019, 02:45:53 AM

Quote from: Fredomago on June 13, 2019, 03:23:25 AM

Quote from: ethereumhunter on June 13, 2019, 01:15:17 AM

The benefit of blockchain is people don't have to use their money to play gambling, that is for sure. They can hide their identity while they are playing gambling, and they can feel safe to play gambling without anyone knows. I am sure that in the future, there will be many other platforms that will support the gambling games, and we will going to see the gambling business will grow fast in the future.

That's one of those thing that people wanted to support this industry using blockchain system to hide their identity while enjoying the gambling industry,in the near future more and more gamblers will see this advantage and begin also to support this types of system.

That’s actually the reason I supported blockchain also, as a matter of fact I got fed up with traditional casinos with its stressful demands of always asking players to provide different kinds of document to create and very an accounts and that process was just too long and time consuming

I am more than pleased knowing that blockchain came with solution to this process that can expose our information to hackers, at least now we play games with all our private details hidden and without fears like it was with the old traditional casinos.

traditional casinos dont ask for any documents before you can play inside but they will only ask a kyc if ever there is a problem with your account or if you are going to transact higher amounts , this is the same as what see online or on online gambling casino that is blockchain based because they do also ask for a kyc . we cant call blockchain gambling anonymous due to kyc , site sign ups , and the crypto coins that we use . all these three factors can expose our identity .

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Quote from: Fredomago on June 13, 2019, 03:23:25 AM

Quote from: ethereumhunter on June 13, 2019, 01:15:17 AM

The benefit of blockchain is people don't have to use their money to play gambling, that is for sure. They can hide their identity while they are playing gambling, and they can feel safe to play gambling without anyone knows. I am sure that in the future, there will be many other platforms that will support the gambling games, and we will going to see the gambling business will grow fast in the future.

That's one of those thing that people wanted to support this industry using blockchain system to hide their identity while enjoying the gambling industry,in the near future more and more gamblers will see this advantage and begin also to support this types of system.

That’s actually the reason I supported blockchain also, as a matter of fact I got fed up with traditional casinos with its stressful demands of always asking players to provide different kinds of document to create and very an accounts and that process was just too long and time consuming

I am more than pleased knowing that blockchain came with solution to this process that can expose our information to hackers, at least now we play games with all our private details hidden and without fears like it was with the old traditional casinos.

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Quote from: kaya11 on June 18, 2019, 10:42:11 PM

Quote from: bvyvjdidn on June 12, 2019, 12:12:51 AM

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

It is a waste of time and money I tell you the truth for the people who are addicted on gambling. It is beneficial only for the workers, it gives jobs, therefore could be a nice contributor to the economy's growth.

^ I don't think if you are sure on this, the gambling industry can't survive if there aren't gamblers that to play with their site. I think both parties here the gamblers and the companies from the gambling industry are the same way of having beneficial. I know not all gamblers will benefit on this but maybe some of them they will. If you've noticed last year until this year there are a bunch of blockchain related gambling site and some of them still existed.

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Quote from: bvyvjdidn on June 12, 2019, 12:12:51 AM

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

It is a waste of time and money I tell you the truth for the people who are addicted on gambling. It is beneficial only for the workers, it gives jobs, therefore could be a nice contributor to the economy's growth.

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Quote from: tsaroz on June 18, 2019, 06:30:04 PM

Quote from: bvyvjdidn on June 12, 2019, 12:12:51 AM

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

There are many benefits of blockhchain based gambling than a regular online crypto gambling. One of the reason is your wallet itself becomes your ID so you don't need to be creating any accounts. And you can have a different account every time you play. It's easier for a onchain bet to be verified if it's a gamble. Anonymity is another factor which people prefer as many of these users comes from a hostile authoritarian jurisdiction.

This is the difference but the hassle thing on this blockchain based ones is that you do always make up some transaction anytime you do put up a bet which is
kind some hassle that's why I do lost up interest and its much better than on that traditional crypto gambling where one deposit then you can play all you want without repeating
the depositing process.

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Quote from: bvyvjdidn on June 12, 2019, 12:12:51 AM

There are many games on blockchain on Asian market. How benefecial is it? Therefore, gambling industry has never suffered from lack of attention. And now, when blockchain technologies are being used for online games, the demand should increase. At least among users, such platforms will cause more confidence than ordinary platforms that spread like mushrooms, where you do not know whether you can withdraw your earnings or not

There are many benefits of blockhchain based gambling than a regular online crypto gambling. One of the reason is your wallet itself becomes your ID so you don't need to be creating any accounts. And you can have a different account every time you play. It's easier for a onchain bet to be verified if it's a gamble. Anonymity is another factor which people prefer as many of these users comes from a hostile authoritarian jurisdiction.

Topic: Is blockchain gambling business beneficial? (Read 11008 times)