PROS AND CONS OF CRRYPTOGAMBLING. | Bitcointalksearch.org

carlfebz2

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Quote from: Theones on June 06, 2022, 04:19:38 PM

Quote from: blatchcorn on June 06, 2022, 11:45:45 AM

Quote from: virasisog on June 06, 2022, 11:23:50 AM

Countries that banned gambling wouldn't ban it for no reason. I believe that they have huge reasons for banning gambling in their country regardless of the huge taxes that they could get from it. Once they ban it, I don't think they aren't firm with their decision. Banning also has pros and cons in each country and I'm sure that the government focuses on the cons that made them ban it.

You can defiantly ban gambling in a country like placing ban on casinos and blocking online casinos but there is no way you can ban crypto gambling. The biggest pros of crypto gambling is that it opens window of gambling for people living in gambling restricted region. But the other side of this advantage is that kids under 18 years are also getting addicted of gambling. I would say crypto gambling has more side effects then good effects.

That is correct - but the countries where gambling is banned. People find another to entertain themselves through crypto gambling and hence they get a few extra bucks, once they are finished these people return to the place again for work.

A never ending story,right?

People would never ever learn and instead of saving up those money or funds for something better or priorities.They do instead spend it up all in gambling which is something i dont see for it to be that worth i would

say on which you are doing hard work just for spending it all in an instant which we know that this isnt something that ideal specially if you do have responsibilities specially on having a family.
gambling is for fun and never ever tend to go beyond the border line specially on spending up money which is more than that you can afford to lose.

Theones

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Quote from: blatchcorn on June 06, 2022, 11:45:45 AM

Quote from: virasisog on June 06, 2022, 11:23:50 AM

Countries that banned gambling wouldn't ban it for no reason. I believe that they have huge reasons for banning gambling in their country regardless of the huge taxes that they could get from it. Once they ban it, I don't think they aren't firm with their decision. Banning also has pros and cons in each country and I'm sure that the government focuses on the cons that made them ban it.

You can defiantly ban gambling in a country like placing ban on casinos and blocking online casinos but there is no way you can ban crypto gambling. The biggest pros of crypto gambling is that it opens window of gambling for people living in gambling restricted region. But the other side of this advantage is that kids under 18 years are also getting addicted of gambling. I would say crypto gambling has more side effects then good effects.

That is correct - but the countries where gambling is banned. People find another to entertain themselves through crypto gambling and hence they get a few extra bucks, once they are finished these people return to the place again for work.

blatchcorn

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Quote from: virasisog on June 06, 2022, 11:23:50 AM

Countries that banned gambling wouldn't ban it for no reason. I believe that they have huge reasons for banning gambling in their country regardless of the huge taxes that they could get from it. Once they ban it, I don't think they aren't firm with their decision. Banning also has pros and cons in each country and I'm sure that the government focuses on the cons that made them ban it.

You can defiantly ban gambling in a country like placing ban on casinos and blocking online casinos but there is no way you can ban crypto gambling. The biggest pros of crypto gambling is that it opens window of gambling for people living in gambling restricted region. But the other side of this advantage is that kids under 18 years are also getting addicted of gambling. I would say crypto gambling has more side effects then good effects.

Gianluca95

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Reputation first.

Pros and cons of cryptogambling is absolutely similar to the normal gambling. You risk to become addicted from it, also you have:

PRO:
- Play in anonymous way, no KYC required
- Deposit and Withdraw in fast way
- Odds seems to be more higher than traditional bookmaker, if you consider sportsbook.

CONS:
- Value of bet is not stable, it depends from Bitcoin Value
- High risks to not be paid if you don't choose the right platform.

virasisog

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Quote from: og kush420 on June 06, 2022, 10:05:11 AM

Quote from: South Park on June 05, 2022, 10:47:38 PM

It is precisely because of online gambling that it makes no sense to try to keep gambling illegal, before online gambling was a thing someone which wanted to gamble would need to find an underground casino and be in company of people which most likely you would not want around you, but now the only thing you need to gamble is to have a computer and Internet access, and if you also want to retain some level of privacy you could get some bitcoin and then gamble with it, so those governments which are against gambling need to think again, as they are losing a great deal of revenue by having this attitude that does not make sense anymore in a world that is interconnected.

In the countries where gambling is ban - for them it is ban - if any government would try to legalize it they will face a backlash.
So government try to play save. Because for the community No Gambling means No gambling at all even if it brings huge profit. The call is the money earned from the gambling -- not Halal.

Countries that banned gambling wouldn't ban it for no reason. I believe that they have huge reasons for banning gambling in their country regardless of the huge taxes that they could get from it. Once they ban it, I don't think they aren't firm with their decision. Banning also has pros and cons in each country and I'm sure that the government focuses on the cons that made them ban it.

og kush420

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Quote from: South Park on June 05, 2022, 10:47:38 PM

It is precisely because of online gambling that it makes no sense to try to keep gambling illegal, before online gambling was a thing someone which wanted to gamble would need to find an underground casino and be in company of people which most likely you would not want around you, but now the only thing you need to gamble is to have a computer and Internet access, and if you also want to retain some level of privacy you could get some bitcoin and then gamble with it, so those governments which are against gambling need to think again, as they are losing a great deal of revenue by having this attitude that does not make sense anymore in a world that is interconnected.

In the countries where gambling is ban - for them it is ban - if any government would try to legalize it they will face a backlash.
So government try to play save. Because for the community No Gambling means No gambling at all even if it brings huge profit. The call the money earned from the gambling -- not Halal.

South Park

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Quote from: og kush420 on June 05, 2022, 06:46:15 PM

Quote from: Lucasgabd on June 03, 2022, 10:44:57 AM

the thing is that with addictions sometimes you think you are in control and things are worse than you think
slippery grounds to walk on.
always a good idea to take care and have a network of friends and family around.

As there is a huge number who want to quit gambling - there is the same number who are interested in starting their gambling career.
So - in the countries where gambling is illegal and the community where people cannot not go to casinos there is good chance that can do online gambling and can entertain themselves.

It is precisely because of online gambling that it makes no sense to try to keep gambling illegal, before online gambling was a thing someone which wanted to gamble would need to find an underground casino and be in company of people which most likely you would not want around you, but now the only thing you need to gamble is to have a computer and Internet access, and if you also want to retain some level of privacy you could get some bitcoin and then gamble with it, so those governments which are against gambling need to think again, as they are losing a great deal of revenue by having this attitude that does not make sense anymore in a world that is interconnected.

Lanatsa

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Quote from: og kush420 on June 05, 2022, 06:46:15 PM

Quote from: Lucasgabd on June 03, 2022, 10:44:57 AM

the thing is that with addictions sometimes you think you are in control and things are worse than you think
slippery grounds to walk on.
always a good idea to take care and have a network of friends and family around.

As there is a huge number who want to quit gambling - there is the same number who are interested in starting their gambling career.
So - in the countries where gambling is illegal and the community where people cannot not go to casinos there is good chance that can do online gambling and can entertain themselves.

Depends on the situation which this is indeed a precise thing where there are people who do always find way for them to play gambling just because their country doesnt really let them to do so.

If we do tend to look at on how big gambling industry is whether its physical or online then its soo damn big which means and shows that there's really some demand into it.

Pro's would be usually be talking about leisure and entertainment and of course money making if you are lucky enough but the con's would be totally opposite of the said or mentioned things.

og kush420

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Quote from: Lucasgabd on June 03, 2022, 10:44:57 AM

the thing is that with addictions sometimes you think you are in control and things are worse than you think
slippery grounds to walk on.
always a good idea to take care and have a network of friends and family around.

As there is a huge number who want to quit gambling - there is the same number who are interested in starting their gambling career.
So - in the countries where gambling is illegal and the community where people cannot not go to casinos there is good chance that can do online gambling and can entertain themselves.

Lucasgabd

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Quote from: Botnake on June 02, 2022, 02:33:25 PM

Quote from: Maslate on June 01, 2022, 08:09:41 AM

Quote from: Lucasgabd on June 01, 2022, 08:03:24 AM

definitely wouldn't advise gambling as a source of income for anyone
of course you can find positive expected value games but there are less stressful ways to make money, in my opinion

I think it's okay to suggest that to anyone as long as you educate them well of the risk of gambling. Yes, the income is so attractive for a successful gambler, however, it's not as easy as we think, a gambler has to be very smart in order to make a living in gambling, so if you find a gambler that has that kind of quality, then maybe we should not limit the possibility that he could be successful in gambling.

I also believe the same, gambling will only be a disadvantage for those who don't know their boundaries and don't have the right mindset when playing. The goal is to win yes but we can't avoid some losses along the way, the important thing right here is to only pick the fight we most know and have enough knowledge. There are a lot of activities in the gambling world and it's almost impossible that we don't have any of those activities that doesn't suit us.

the thing is that with addictions sometimes you think you are in control and things are worse than you think
slippery grounds to walk on.
always a good idea to take care and have a network of friends and family around.

LUCKMCFLY

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Quote from: AmoreJaz on May 25, 2022, 04:30:14 PM

Quote from: Lucasgabd on May 24, 2022, 05:15:00 PM

Quote from: passwordnow on May 22, 2022, 05:12:16 PM

Quote from: TheGreatPython on May 21, 2022, 11:31:46 AM

Not all altcoins are scams that can drop to almost zero like what happened with luna/ust recently. Also luna and ust are I think not yet accepted in many gambling sites so no need to worry though there are lots of altcoins that is accepted, that is because not all people are willing to use their bitcoin because they think it was too valuable to gamble and apart from it, bitcoin can sometimes have a higher transaction fee and slow-moving in terms of depositing and withdrawing it but these known issues in bitcoin are not felt in many altcoins.

If there is another altcoin that's widely accepted and followed the fiasco of Luna/UST then, many casinos that have it on their list will start delisting and stop supporting it.
And talking with bitcoin gambling, we all have our thoughts about spending it. Many won't think about it as they're keeping it for holds and they're okay to spend the altcoins that they have instead of bitcoin. But there goes the rich ones, they've got plenty of it and it's not a matter of problem whether they win or lose bitcoin.

LUNA's case shows why most casinos, even the small ones, should be careful when adding support for different cryptocurrencies than the main one, bitcoin, ethereum, doge and maybe litecoin.
too much risk.

maybe this is one of the reasons why most casinos are keeping their payment list short and loyal to top alts like btc, eth, bnb, ltc. because what happened to luna may possibly happen also to other alts. and this will cause their bankroll to go down if one of their payment methods crashed.
anyway, the casino has their choice to select their own payment methods. just keep their list solid. casino can always add any coin they want but they also need to weigh the pros and cons of adding such coin.

Sometimes we as players tell the casinos that they can do their part by listing some currencies, I think sometimes it is asked because it is more exciting to bet certain currencies like TRX like ADA and multiply them, but sometimes it is a risk for the casinos, and it is As you say, if they had had LUNA in their wallets, the losses would have been perhaps millions, some players avoid playing with BTC for the simple fact that it is more expensive due to the fees, however if the casinos study the way to integrate LN within them, all this would change in a big way.

Botnake

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Quote from: Maslate on June 01, 2022, 08:09:41 AM

Quote from: Lucasgabd on June 01, 2022, 08:03:24 AM

definitely wouldn't advise gambling as a source of income for anyone
of course you can find positive expected value games but there are less stressful ways to make money, in my opinion

I think it's okay to suggest that to anyone as long as you educate them well of the risk of gambling. Yes, the income is so attractive for a successful gambler, however, it's not as easy as we think, a gambler has to be very smart in order to make a living in gambling, so if you find a gambler that has that kind of quality, then maybe we should not limit the possibility that he could be successful in gambling.

I also believe the same, gambling will only be a disadvantage for those who don't know their boundaries and don't have the right mindset when playing. The goal is to win yes but we can't avoid some losses along the way, the important thing right here is to only pick the fight we most know and have enough knowledge. There are a lot of activities in the gambling world and it's almost impossible that we don't have any of those activities that doesn't suit us.

Lucasgabd

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There's no need to be upset

Quote from: Maslate on June 01, 2022, 08:09:41 AM

Quote from: Lucasgabd on June 01, 2022, 08:03:24 AM

definitely wouldn't advise gambling as a source of income for anyone
of course you can find positive expected value games but there are less stressful ways to make money, in my opinion

I think it's okay to suggest that to anyone as long as you educate them well of the risk of gambling. Yes, the income is so attractive for a successful gambler, however, it's not as easy as we think, a gambler has to be very smart in order to make a living in gambling, so if you find a gambler that has that kind of quality, then maybe we should not limit the possibility that he could be successful in gambling.

now here's a thing I didn't think about before
gambling being used for education on math, probabilities and game theory
that would be really interesting
would love to see it

jostorres

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Quote from: Eternad on May 30, 2022, 01:16:08 AM

Only Muslim countries and other countries that have strict restrictions against gambling but the rest of the world gets a lot of profit from gambling industry. The only cons that I can see on gambling are when it was freely open in 3rd world countries which result in many life destroyed due to gambling addiction. People living on first world countries like US can easily get back on their feet with the proper support of their family since they have a huge financial capacity to recover compared to a poor country where jobs salary is very low and sufficient only for their own daily needs.

Monaco is the best example for moderating gambling while getting profit on it at the same time without involving there citizen on gambling addiction. This idea should be implement in poor countries to fight against gambling addiction.

It was restricted on muslim and similar countries because for them gambling is a sin. Not all can get a lot of profit in gambling, I mean the regular individuals but for governments yes they can get a good revenue with it. The cons you are talking about above is not totally a con but it can also be a pro to some because by allowing gambling on their country, it also open opportunities for the people, what I mean is jobs.

Also not all that engage in gambling are going to be addicted with it but most are only using it to pass the time and to relieve their stress from the whole day of working. If they are lucky they can win, and gambling can provide extra income to them.

wxa7115

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Quote from: Dart18 on May 26, 2022, 11:48:49 PM

Quote from: panjul07 on May 26, 2022, 01:46:30 PM

Quote from: Dart18 on May 26, 2022, 01:08:11 PM

I haven't seen a gambling site where they use stablecoins yet. If there is please do share.

Stablecoins like USDT, USDC or BUSD? Please take a look at Chips.gg, they accept USDC and BUSD
Other site is BK8, they accept USDT (trc20) as one of the payment method.
Betfury is also accepting USDT with 5 different networks as well as BUSD.
One more site that I know is Jacksclub, they accept USDT (erc10).
I believe there are many other sites use stablecoins, you only need to be more active to explore.

Thank you for that. I am stuck in just one betting site and I am happy with it. Exploring is kind of a lazy thing to do if you got everything in one that you like. Options for payment and features.
But I still appreciate the effort to share and the input of all the details in it. Wink

Also, isn't it better to use the new applications now who offers payment in direct USD rather than USDT. Like DraftKings or FanDuel.
In regards with the OP, I think if we talk about pros and cons it should be the difference between things like that. Why bother changing it to USDT and paying tx fees if you can use it directly with USD? Country restrictions?

Most likely the regulations they will have to go through will be many times higher as they will now be dealing with fiat instead of a stable coin, and since many cryptocurrency casinos obviously prefer to cater to the preferences of the members of this market they prefer to not allow the use of fiat directly at their casinos.

After all we have seen some fiat casinos trying to accept cryptocurrencies before but they never became too successful as they forced you to go through a mandatory KYC, so they have never reached the popularity of casinos which exclusively accept cryptocurrencies.

Russlenat

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Quote from: _act_ on June 01, 2022, 07:31:30 AM

Quote from: Viscore on May 30, 2022, 02:56:43 PM

But in real life, people somehow need to gamble too because its just a form of entertainment but in a business way. And you need funds for you to be able to gamble, whether you win or lose in the end.

As a matter of fact, some people gamble for fun, but some people also still see it as a means of earning until they have lost often and often or they become addicted. Nevertheless, gambling should still be for fun and not a means of making money which is not but a means of addiction.

All will be good if that is the case but unfortunately, the majority of gamblers in casino or in different avenues aren't looking to have some fun because their goal is to double or even triple their capital. They know the risks and that most of the time they will lose than win and that is inevitable but they still rely on hope that maybe, just maybe, this day would be different and they could bring home huge cash. Eventually, what will happen is the exact opposite.

terrorJR

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Quote from: _act_ on June 01, 2022, 07:31:30 AM

Quote from: Viscore on May 30, 2022, 02:56:43 PM

But in real life, people somehow need to gamble too because its just a form of entertainment but in a business way. And you need funds for you to be able to gamble, whether you win or lose in the end.

As a matter of fact, some people gamble for fun, but some people also still see it as a means of earning until they have lost often and often or they become addicted. Nevertheless, gambling should still be for fun and not a means of making money which is not but a means of addiction.

Actually, in this case it is as you say but if you look at other things that make gambling as a suggestion to get money, this is clearly quite naive and usually people like this are addicts and are always obsessed with gambling considering they are thirsty for winning and money and do not accept the word lose there.
Btw now this is happening so commonly which makes it seem like a very normal thing to do as some people are starting to misinterpret gambling as a job.

Maslate

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Quote from: Lucasgabd on June 01, 2022, 08:03:24 AM

definitely wouldn't advise gambling as a source of income for anyone
of course you can find positive expected value games but there are less stressful ways to make money, in my opinion

I think it's okay to suggest that to anyone as long as you educate them well of the risk of gambling. Yes, the income is so attractive for a successful gambler, however, it's not as easy as we think, a gambler has to be very smart in order to make a living in gambling, so if you find a gambler that has that kind of quality, then maybe we should not limit the possibility that he could be successful in gambling.

Lucasgabd

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Quote from: _act_ on June 01, 2022, 07:31:30 AM

Quote from: Viscore on May 30, 2022, 02:56:43 PM

Despite of illegalities of gambling in some countries, i believe gamblers do not settle on that and won't gamble at all. They will always have the time to gamble, it's just that they should be extra careful not to be caught by the government officials. Maybe that's how they see it as a sin, contradicting the laws of the government.

Gambling is seen as a sin in few countries because of their religion, religious people which are getting to extreme are also the government officials and they prefer to just ban gambling, example of this can be seen in Muslim countries as gambling is forbidden in their religion. So because of region led to their laws in the government to forbid gambling.

Quote from: Viscore on May 30, 2022, 02:56:43 PM

But in real life, people somehow need to gamble too because its just a form of entertainment but in a business way. And you need funds for you to be able to gamble, whether you win or lose in the end.

As a matter of fact, some people gamble for fun, but some people also still see it as a means of earning until they have lost often and often or they become addicted. Nevertheless, gambling should still be for fun and not a means of making money which is not but a means of addiction.

definitely wouldn't advise gambling as a source of income for anyone
of course you can find positive expected value games but there are less stressful ways to make money, in my opinion

_act_

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Quote from: Viscore on May 30, 2022, 02:56:43 PM

Despite of illegalities of gambling in some countries, i believe gamblers do not settle on that and won't gamble at all. They will always have the time to gamble, it's just that they should be extra careful not to be caught by the government officials. Maybe that's how they see it as a sin, contradicting the laws of the government.

Gambling is seen as a sin in few countries because of their religion, religious people which are getting to extreme are also the government officials and they prefer to just ban gambling, example of this can be seen in Muslim countries as gambling is forbidden in their religion. So because of region led to their laws in the government to forbid gambling.

Quote from: Viscore on May 30, 2022, 02:56:43 PM

But in real life, people somehow need to gamble too because its just a form of entertainment but in a business way. And you need funds for you to be able to gamble, whether you win or lose in the end.

As a matter of fact, some people gamble for fun, but some people also still see it as a means of earning until they have lost often and often or they become addicted. Nevertheless, gambling should still be for fun and not a means of making money which is not but a means of addiction.

Topic: PROS AND CONS OF CRRYPTOGAMBLING. (Read 1552 times)