Is There Any Crypto Casino With An In-built Mini Crypto Exchange?

virasisog

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Quote from: BitcoinPanther on December 16, 2022, 04:49:03 PM

Thee are casinos that enable you to withdraw in any cryptocurrency they accept regardless of what kind of currency you deposited in the platform. Just like in Rollbit, you can deposit in ETH, BTC, Litecoin, Solana or RLB and withdraw to any of the given cryptocurrency regardless whether you deposit BTC, ETH, etc...

Quote from: Johnyz on December 16, 2022, 04:29:59 PM

Quote from: Distinctin on December 16, 2022, 03:53:19 PM

Quote from: ralle14 on December 15, 2022, 07:03:42 PM

I was also going to mention the table but anyway there's a bunch of casinos that have their own exchange it's just that they rarely get any promotion or visibility.

IMO the reason why they're not that common on most casinos is because there's a risk that it won't be profitable since their rates are always higher compared to regular exchanges and that amount of money is probably better spent on other things like marketing or promotions.

Especially for beginners, it’s common to expect a negative outcome that it might be not working in the future and can only be a waste of time and money. That is why some operators have chose to stick with casinos first and improve all that needs to be improved, and adopt more casinos marketing and promotions because gamblers will surely make it a big thing for them.

Creating an exchange within their platform will cost them a lot, they will need to hire more people to focus on this and yes this is why many site don’t want this one. They can just focus on their casino and stay in the competition, many gamblers prefer not to trade their coins/tokens though when they are playing they wanted to stick on it and withdraw the safe crypto to their own personally wallet. Haven’t seen yet a gambling site have this option, maybe its far from reality.

True,setting up an exchange like system cost more than the ordinary crypto casino but some casino had done it anyway.

The high cost actually hinders the casino in building their own exchange though it will surely be convenient to their users. There are a few sites that have added this feature but there are also casinos that are struggling to build one. If their focus is just to maintain their reputation and to keep their business growing, building up an exchange on their site won't be their priority. If more casinos will try adding an exchange feature on their site, they can keep more players who want to save fees from transacting in other exchanges.

Mahanton

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Quote from: Johnyz on December 16, 2022, 04:29:59 PM

Quote from: Distinctin on December 16, 2022, 03:53:19 PM

Quote from: ralle14 on December 15, 2022, 07:03:42 PM

I was also going to mention the table but anyway there's a bunch of casinos that have their own exchange it's just that they rarely get any promotion or visibility.

IMO the reason why they're not that common on most casinos is because there's a risk that it won't be profitable since their rates are always higher compared to regular exchanges and that amount of money is probably better spent on other things like marketing or promotions.

Especially for beginners, it’s common to expect a negative outcome that it might be not working in the future and can only be a waste of time and money. That is why some operators have chose to stick with casinos first and improve all that needs to be improved, and adopt more casinos marketing and promotions because gamblers will surely make it a big thing for them.

Creating an exchange within their platform will cost them a lot, they will need to hire more people to focus on this and yes this is why many site don’t want this one. They can just focus on their casino and stay in the competition, many gamblers prefer not to trade their coins/tokens though when they are playing they wanted to stick on it and withdraw the safe crypto to their own personally wallet. Haven’t seen yet a gambling site have this option, maybe its far from reality.

Doesnt really cost that much but rather it might really be adding up more hassle and lots of things to consider before adding up some instant or exchange swap sites or feature into their platform.
Im not sure on how much it would be, therefore it might be that expensive or not but just like the rest been mentioning that there are ones who do have their mini-exchange or swap
feature but only limited into few coins but as im not surprised that fees wont really be that something to be cheap and it is really that much sensible if you do pull off those coins
you do have and convert it out into external platforms if you are really that serious on exchanging it which does cause cheaper.

BitcoinPanther

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Thee are casinos that enable you to withdraw in any cryptocurrency they accept regardless of what kind of currency you deposited in the platform. Just like in Rollbit, you can deposit in ETH, BTC, Litecoin, Solana or RLB and withdraw to any of the given cryptocurrency regardless whether you deposit BTC, ETH, etc...

Quote from: Johnyz on December 16, 2022, 04:29:59 PM

Quote from: Distinctin on December 16, 2022, 03:53:19 PM

Quote from: ralle14 on December 15, 2022, 07:03:42 PM

I was also going to mention the table but anyway there's a bunch of casinos that have their own exchange it's just that they rarely get any promotion or visibility.

IMO the reason why they're not that common on most casinos is because there's a risk that it won't be profitable since their rates are always higher compared to regular exchanges and that amount of money is probably better spent on other things like marketing or promotions.

Especially for beginners, it’s common to expect a negative outcome that it might be not working in the future and can only be a waste of time and money. That is why some operators have chose to stick with casinos first and improve all that needs to be improved, and adopt more casinos marketing and promotions because gamblers will surely make it a big thing for them.

Creating an exchange within their platform will cost them a lot, they will need to hire more people to focus on this and yes this is why many site don’t want this one. They can just focus on their casino and stay in the competition, many gamblers prefer not to trade their coins/tokens though when they are playing they wanted to stick on it and withdraw the safe crypto to their own personally wallet. Haven’t seen yet a gambling site have this option, maybe its far from reality.

True,setting up an exchange like system cost more than the ordinary crypto casino but some casino had done it anyway.

Johnyz

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Quote from: Distinctin on December 16, 2022, 03:53:19 PM

Quote from: ralle14 on December 15, 2022, 07:03:42 PM

I was also going to mention the table but anyway there's a bunch of casinos that have their own exchange it's just that they rarely get any promotion or visibility.

IMO the reason why they're not that common on most casinos is because there's a risk that it won't be profitable since their rates are always higher compared to regular exchanges and that amount of money is probably better spent on other things like marketing or promotions.

Especially for beginners, it’s common to expect a negative outcome that it might be not working in the future and can only be a waste of time and money. That is why some operators have chose to stick with casinos first and improve all that needs to be improved, and adopt more casinos marketing and promotions because gamblers will surely make it a big thing for them.

Creating an exchange within their platform will cost them a lot, they will need to hire more people to focus on this and yes this is why many site don’t want this one. They can just focus on their casino and stay in the competition, many gamblers prefer not to trade their coins/tokens though when they are playing they wanted to stick on it and withdraw the safe crypto to their own personally wallet. Haven’t seen yet a gambling site have this option, maybe its far from reality.

Distinctin

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Quote from: ralle14 on December 15, 2022, 07:03:42 PM

I was also going to mention the table but anyway there's a bunch of casinos that have their own exchange it's just that they rarely get any promotion or visibility.

IMO the reason why they're not that common on most casinos is because there's a risk that it won't be profitable since their rates are always higher compared to regular exchanges and that amount of money is probably better spent on other things like marketing or promotions.

Especially for beginners, it’s common to expect a negative outcome that it might be not working in the future and can only be a waste of time and money. That is why some operators have chose to stick with casinos first and improve all that needs to be improved, and adopt more casinos marketing and promotions because gamblers will surely make it a big thing for them.

Cling18

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Quote from: ethereumhunter on December 16, 2022, 11:05:33 AM

If you don't like using BTC, you can send it to a third party and back it to your betting account. I guess it will be troublesome if we do like that.

And indeed, if the casino has an exchange within the casino, it will make it easy for members to exchange BTC or altcoins for other altcoins. And we don't know why the casino doesn't have this feature or maybe it's related to the license or something else.

This has been the struggle of most bettors these days. I hope more casinos would consider adding an exchange or at least a coin-swapping feature so it will not be hard for gamblers to switch to other coins. However, casinos are still in the process of innovation and development. I'm sure that they will still consider the demand of their users, especially the highly reputable casinos.

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Quote from: ralle14 on December 15, 2022, 07:03:42 PM

I was also going to mention the table but anyway there's a bunch of casinos that have their own exchange it's just that they rarely get any promotion or visibility.

IMO the reason why they're not that common on most casinos is because there's a risk that it won't be profitable since their rates are always higher compared to regular exchanges and that amount of money is probably better spent on other things like marketing or promotions.

And since creating an in built crypto exchange is not the focus, so casinos will focus instead on how to stay at edge with other casinos by trying to adopt more technology trend games, and gains more bonuses and promotions that will attract a lot of old and new users. Maybe later on, when there are huge extra funds available, casinos would love to venture into a new thing and an in built crypto exchange might work.

Fivestar4everMVP

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Quote from: ethereumhunter on December 16, 2022, 11:05:33 AM

If you don't like using BTC, you can send it to a third party and back it to your betting account. I guess it will be troublesome if we do like that.

And indeed, if the casino has an exchange within the casino, it will make it easy for members to exchange BTC or altcoins for other altcoins. And we don't know why the casino doesn't have this feature or maybe it's related to the license or something else.

Well, for me personally, Ive thought deeply about this and have come to the conclusion that it is a great idea, it doesn't matter what any user is saying here.
It is just unfortunate that I don't have any plans of ever launching a casino, if I had, adding a feature like this would have been a priority and I tell you, I will make it become a big selling point of my casino.
And I tell you what?, this is not a full fledged exchange and it doesn't require a license, even if a license is required, i will make sure built it out in a way that regulators won't even know that the casino offer mini exchanges services.

ethereumhunter

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If you don't like using BTC, you can send it to a third party and back it to your betting account. I guess it will be troublesome if we do like that.

And indeed, if the casino has an exchange within the casino, it will make it easy for members to exchange BTC or altcoins for other altcoins. And we don't know why the casino doesn't have this feature or maybe it's related to the license or something else.

o48o

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Quote from: AmoreJaz on December 15, 2022, 06:15:41 PM

@OP, you may want to take a look at this thread i created -

LIST Gambling sites with internal exchange

however, been a while that i've updated this thread. check also some conditions that you need to meet before exchanging any coins, some have minimum amt that you can exchange or need to attain certain level before you can use their internal exchange.

but for the OP to know the amount in USD value while betting or playing, what Fivestar above suggested is helpful. i also do that from time to time to know the amount in usd i am using for my bets.

Hold on, i was reading your list and correct me if i am wrong but i haven't seen any internal exchange in any of those that i have visited. At least betfury doesn't have internal exchange. They point to externals swaps like biswap, and from what i know of others like stake, you can buy cryptos with third party systems like changelly or moonpay in them. But you can't exchange to other currencies inside the casinos themselves. That would need exchange license and would bring whole another lever of regulations.

So far online casino regulations have been somewhat relaxed compared to exchanges. I am guessing that's one of the reasons they want to stay clear of being an exchange.

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Quote from: ralle14 on December 15, 2022, 07:03:42 PM

I was also going to mention the table but anyway there's a bunch of casinos that have their own exchange it's just that they rarely get any promotion or visibility.

IMO the reason why they're not that common on most casinos is because there's a risk that it won't be profitable since their rates are always higher compared to regular exchanges and that amount of money is probably better spent on other things like marketing or promotions.

That could be another reason too as casinos mainly focus on their own marketing to stay at edge with other casinos. If they also focus on both, I’m afraid that the casino itself will really need huge funds so they can cater both the essentials to run a competitive casino and at the same time working on a reliable crypto exchange. Probably, that would create more stress on the operators as they can both fall unknowingly in the future.

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I think it is not commonly used as the casino needs to add some people,mostly to the technical team in order to check the exchange transactions,sure they can use automation tools but when problems happen they need the technical department to see why the bug or error happened,this adds to the cost of the casino,it is an unnecessary cost because big casinos like Stake can really afford it financially speaking but I don't see this feature as something who would change my or other gamblers perspective or I would get any thing better because of this,there are a lot of direct exchanges when I can exchange my coins with low fees.

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Quote from: Fivestar4everMVP on December 15, 2022, 03:21:55 PM

There is a crypto casino with such a feature?

As far as I know there are casinos that have exchange features, namely metaspin and duelbits but for metaspin I don't really understand how it works because I have never tried playing there but for duelbits if you deposit with BItcoin and want to withdraw with dogecoin or other coins there will be no problem it can be done and I have done it 2 or 3 times recently, at duelbits you don't need to make an exchange first, just choose which coin you want to choose as a withdrawal.

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Quote from: Wexnident on December 16, 2022, 02:09:33 AM

I don't think they'd ever bother for the most part really. Most casinos would probably do (or have done) is let us view it in terms of a specific currency (local ones or USD most often), and that should work since they still technically think that the money involved would be the same in general, whether it was converted from Bitcoin to say, XRP or any other coin. There's also the legal side of things that they probably don't want to touch. I never really took the time to find one or check if the casinos I play at have it, and there are a bunch of answers from others already anw.

Plus, you want to avoid fees but I don't think you'd be able to avoid those regardless if you use a built-in exchange from their casino or through your usual method, they might even ask for more imo.

legal issues i guess would be the problem for it. but there have been casinos with built-in exchanges long ago. not seen one anymore. crypto.games may have retained its build-it. i tried to withdraw WAVES from BTC if memory serves.

But most of them today will just allow you to buy crypto. Stakes for example will allow you to buy some altcoins thru their gateway.

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I don't think they'd ever bother for the most part really. Most casinos would probably do (or have done) is let us view it in terms of a specific currency (local ones or USD most often), and that should work since they still technically think that the money involved would be the same in general, whether it was converted from Bitcoin to say, XRP or any other coin. There's also the legal side of things that they probably don't want to touch. I never really took the time to find one or check if the casinos I play at have it, and there are a bunch of answers from others already anw.

Plus, you want to avoid fees but I don't think you'd be able to avoid those regardless if you use a built-in exchange from their casino or through your usual method, they might even ask for more imo.

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Quote from: Fivestar4everMVP on December 15, 2022, 04:11:04 PM

Quote from: Casdinyard on December 15, 2022, 03:36:16 PM

I think established gambling sites like Duelbits, Betfury, Stake, and many others have this feature built into their platform as it helps customers like you who oftentimes find themselves using the wrong coin for the wrong games. Although in the case of you wanting to easily exchange your bitcoin to usdt. You just need to acquaint yourself to their platform I guess.

OK, I've been playing on stake for a while now and I've not come across such a feature as being able to exchange or convert from one crypto coin to another.
Though your comment made me to go searching stake to try to find where the feature is, I didn't find anything except the ability to display coins in fiat chosen by the user.

This is also good, but in totality, it is absolutely different from what I am asking about.

Well, they do not use their own Crypto exchange ... but you can use https://dinabot.exchange/ that are linked to their Chat feature to exchange some coins. (It also works with PrimeDice.com which is their other casino)

I think the reason why so many of them do not have this, are the additional licenses and financial regulations that this adds to the operating burden. (it also needs extra Staff to manage the problems & maintenance of such a service) Roll Eyes

Bitinity

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Quote from: Fivestar4everMVP on December 15, 2022, 03:21:55 PM

Alot of times I've deposited bitcoin into a crypto casino but then realized I could have deposited usdt or Shiba or even TRX instead, and I begin wishing there was a way to convert or exchange my bitcoin balance right inside the casino, to one of those coins I mentioned, without having to withdraw my bitcoin back to a crypto exchange, thereby saving me from reducing my bitcoin balance through paying the withdrawal fee.

You want to minimize withdrawal fee by exchanging your bitcoin to other coins if there is an internal exchange in the casino, but didn't you think that there will be always a fee deducted from your coin to use the exchange/swap feature? This is the thing you should consider because the swap/exchange fee can be higher than the amount you want to save for the withdrawal fee. If the main idea is to minimize withdrawal fee, you should always start to deposit with altcoin or to find casinos with cheap fee or even casino that does not charge any fee.

iv4n

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BC.Game and Chips have a mini crypto exchange... Not all coins/tokens are available for exchanging at BC, and Chips have higher fees.

Quote from: goinmerry on December 15, 2022, 06:59:09 PM

....
If we like to gamble with USDT or SHIBA, just deposit these coins next time for comfortability.

We are the one who needs to adjust and not the gambling sites.

Chips (and some other dividend-based casinos) give rewards in different coins. At BC there is a wheel, prizes for some tasks and coco are in BCD, and there are other coin drops... From the experience, when you are a regular player after some time balances look like a real salad! There is something in every coin, and separated like that is almost like nothing, but combining them can be a good thing to do if it's possible.

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Quote from: Jemzx00 on December 15, 2022, 04:29:03 PM

Quote from: Casdinyard on December 15, 2022, 03:36:16 PM

I think most of crypto gambling sites that offer multiple coin options do have some sort of exchange system within their platform. Although if you're talking about exchanges that offer trading and investments, that could hardly come by because that is a subfeature that could potentially cost them more than the gambling side of their business itself. I think established gambling sites like Duelbits, Betfury, Stake, and many others have this feature built into their platform as it helps customers like you who oftentimes find themselves using the wrong coin for the wrong games. Although in the case of you wanting to easily exchange your bitcoin to usdt. You just need to acquaint yourself to their platform I guess.

Actually, it is not a common feature of any gambling platform or casinos out here. I've tried a lot of gambling platform that has an ANN thread on the forum, and I can only remember doing such a thing to only one gambling site. Unfortunately, I cannot remember what casino it was, but I was able to deposit BTC and convert it to USD and then to another cryptocurrency that they accept on the platform such as XRP since it has one of lowest transaction fees and the most convenient crypto for me to withdraw on.

About the exchange feature that you're talking about, I don't think there's a casino that has it since it is not an exchange platform. You can only convert tokens to USD on some gambling platforms but not directly exchange them for another token.

I am also trying to remember what site it was that had an exchange injected into their website.
Was it Yolodice back then because they also have Ethereum, Doge, and Litecoin available in their cryptocurrency deposit options? But their service is already closed so it's difficult to verify it. Perhaps digging their thread will be the only answer.
As for my own experience with other gambling sites, I have never bumped into one yet. I don't see freebitco.in as a gambling site so that's a no.

QueenVera

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I actually didn't see reasons why one should be bothered about swapping coin after depositing it in a casino not until I read the paragraph where you said that your earnings where sent to your stake.com account, then I really felt for you.
I think you can also suggest this to the admin of stake so the can look into it because aside it's convenience on the side of the players like you who will first have to transfer your money from stake and back again, they can also make some cool cash from this initiative just as OP said as they could charge relatively very low few to get this done and at the end still be in massive profit.
I was thinking if it's possible to even run a p2p on those gambling Casinos.

Topic: Is There Any Crypto Casino With An In-built Mini Crypto Exchange? (Read 295 times)