PROS AND CONS OF CRRYPTOGAMBLING. - page 10.

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Quote from: Kingsyoung on May 08, 2022, 08:59:32 AM

Let’s talk about the cons:
Ofcourse, there is a fly in any honey pot. Playing at an online crypto casino has some disadvantages that are worth thinking about, too.
Firstly, crypto-gambling is never a stable source of profit because anything can happen(loss) .

First, the cons are too short. Second, this is not actually a con of crypto gambling. This is a disadvantage of gambling in general. Not only is gambling never a stable source of profit, it is actually never a source of profit in general. Rather, it is a waste of money. There are more losses in gambling than wins. There are more lost money in gambling rather than profit.

The con of crypto gambling for me is that crypto is volatile. You are gambling $100 today, but tomorrow it could mean that you lost $300.

Uang_kartal

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betfury

Quote from: madnessteat on May 10, 2022, 01:25:32 PM

Quote from: KTChampions on May 10, 2022, 01:11:49 PM

Quote from: Lanatsa on May 09, 2022, 03:50:02 PM

Quote from: KTChampions on May 09, 2022, 02:48:07 PM

I think that all the pros and cons are identical with the case when we consider fiat versus cryptocurrencies. The only difference (although I may be missing something) is that there is Provable Fair in crypto gambling - this feature is unique to blockchain gambling and cannot be fully copied/replicated in fiat gambling.

One of the main things i do really able to see if we do really make out some comparison in between the two on which in crypto which you could really make yourself that somehow assured nor really get that confident

that you are dealing with a fair site or platform which is something that you could really get the feeling specially when you are dealing with fiat platform or casinos which is indeed right or precise on what you had
mentioned.

One of the pros or the reason on why this market or industry did really grow up fast is about on its payment system where you could play anonymously without any verifying yourself or something
which majority of people do really prefer.

You can also play anonymously in a regular offline casino - as far as I know, no one there asks to pass the KYC. If you wish, this is also possible in fiat online casinos, with small amounts, authorization is not strict and you can go through it with fictitious documents (however, I haven’t been to fiat casinos for a long time, so I can’t be sure that nothing has changed there).

Of course in fiat casinos no one will ask you to show your documents if your appearance indicates that you are of legal age to gamble, but nowadays the identity can be determined even by video cameras that can read your biometrics. I do not know how things are in other countries, but I read that in our country they collect biometric data of citizens even without our permission.

in your country, maybe offline casinos are legal and can be found at some points in the city center bro? that's interesting, and just like playgrounds and other public facilities, friends, show me your ticket to enter and have the right to have fun. in my country maybe not or the place is hidden. But the progress of the times wrapped in web browsing or a unique domain brings someone to the internet which may be served especially for casinos and other gambling.
it makes it easy for players to access and easy to play. As great as supervision is, there is still a gap to come or play

madnessteat

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Quote from: KTChampions on May 10, 2022, 01:11:49 PM

Quote from: Lanatsa on May 09, 2022, 03:50:02 PM

Quote from: KTChampions on May 09, 2022, 02:48:07 PM

I think that all the pros and cons are identical with the case when we consider fiat versus cryptocurrencies. The only difference (although I may be missing something) is that there is Provable Fair in crypto gambling - this feature is unique to blockchain gambling and cannot be fully copied/replicated in fiat gambling.

One of the main things i do really able to see if we do really make out some comparison in between the two on which in crypto which you could really make yourself that somehow assured nor really get that confident

that you are dealing with a fair site or platform which is something that you could really get the feeling specially when you are dealing with fiat platform or casinos which is indeed right or precise on what you had
mentioned.

One of the pros or the reason on why this market or industry did really grow up fast is about on its payment system where you could play anonymously without any verifying yourself or something
which majority of people do really prefer.

You can also play anonymously in a regular offline casino - as far as I know, no one there asks to pass the KYC. If you wish, this is also possible in fiat online casinos, with small amounts, authorization is not strict and you can go through it with fictitious documents (however, I haven’t been to fiat casinos for a long time, so I can’t be sure that nothing has changed there).

Of course in fiat casinos no one will ask you to show your documents if your appearance indicates that you are of legal age to gamble, but nowadays the identity can be determined even by video cameras that can read your biometrics. I do not know how things are in other countries, but I read that in our country they collect biometric data of citizens even without our permission.

dothebeats

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Quote from: KTChampions on May 10, 2022, 01:11:49 PM

Quote from: Lanatsa on May 09, 2022, 03:50:02 PM

Quote from: KTChampions on May 09, 2022, 02:48:07 PM

I think that all the pros and cons are identical with the case when we consider fiat versus cryptocurrencies. The only difference (although I may be missing something) is that there is Provable Fair in crypto gambling - this feature is unique to blockchain gambling and cannot be fully copied/replicated in fiat gambling.

One of the main things i do really able to see if we do really make out some comparison in between the two on which in crypto which you could really make yourself that somehow assured nor really get that confident

that you are dealing with a fair site or platform which is something that you could really get the feeling specially when you are dealing with fiat platform or casinos which is indeed right or precise on what you had
mentioned.

One of the pros or the reason on why this market or industry did really grow up fast is about on its payment system where you could play anonymously without any verifying yourself or something
which majority of people do really prefer.

You can also play anonymously in a regular offline casino - as far as I know, no one there asks to pass the KYC. If you wish, this is also possible in fiat online casinos, with small amounts, authorization is not strict and you can go through it with fictitious documents (however, I haven’t been to fiat casinos for a long time, so I can’t be sure that nothing has changed there).

Not unless you win multiple times and create an unwanted attention to yourself. Also, they probably knew you already right after entering their premises, hence why they don't even ask for KYC or even do a thorough background and security check on you because they know the basics about you. A friend told me about this as he's working as a part of a security detail on a local casino, and apart from the regular obvious security guys they had on site, they also have the regular looking guys mingling with lots of players in order to gather even just the slightest information about them. This happens on a high-end casino though, not sure about the others.

KTChampions

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Quote from: Lanatsa on May 09, 2022, 03:50:02 PM

Quote from: KTChampions on May 09, 2022, 02:48:07 PM

I think that all the pros and cons are identical with the case when we consider fiat versus cryptocurrencies. The only difference (although I may be missing something) is that there is Provable Fair in crypto gambling - this feature is unique to blockchain gambling and cannot be fully copied/replicated in fiat gambling.

One of the main things i do really able to see if we do really make out some comparison in between the two on which in crypto which you could really make yourself that somehow assured nor really get that confident

that you are dealing with a fair site or platform which is something that you could really get the feeling specially when you are dealing with fiat platform or casinos which is indeed right or precise on what you had
mentioned.

One of the pros or the reason on why this market or industry did really grow up fast is about on its payment system where you could play anonymously without any verifying yourself or something
which majority of people do really prefer.

You can also play anonymously in a regular offline casino - as far as I know, no one there asks to pass the KYC. If you wish, this is also possible in fiat online casinos, with small amounts, authorization is not strict and you can go through it with fictitious documents (however, I haven’t been to fiat casinos for a long time, so I can’t be sure that nothing has changed there).

fiulpro

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I do think we can explore the crypto gambling more in the time of the pandemic since at the end of the day the gambling is an essential entertainment for the some people, its also deeply integrated in certain cultures as well and therefore I do think that crypto gambling, which is mainly online is extremely helpful to control the pandemic as well, you can stay at home and enjoy a game like setting where people don't have to worry about catching covid or the new monkey pox in the UK or the new liver damaging virus in the US.
At the same time you have more options, you can have anonymity and you don't have to worry about going somewhere as well since it's all online, legal, protected by law as well in most countries. I think there are so many things that we can add to it but then again it's way more addictive since it looks like that you are playing games at times.

safari88

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I believe that every possible pros and cons of crypto gambling, and gambling as a whole, have already been listed and discussed. But, I just wanna say that, gambling could really affect every aspect of our lives in any way possible, if we let it happen. For instance, it may be a good that it can provide money, but on the other side it may cause addiction. This pros and cons are just consequences of how people let it happen or how they handle gambling is all I am saying.

famososMuertos

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Casinos centralized; Harsh reality for the crypto gamers environment, but at least there is a choice to decide Vs. Fiat.

OP: I think your opinion is very general and not so focused on casinos, but that's fine.

In my case, one of the great advantages of crypto casinos is that they offer the possibility of up to 8 decimal (bet).
That is fantastic, there is no fight there, this is unbeatable, defeats and humiliates the decimal bet.

For some this may be ridiculous but when you want to live long at gambling, then you maintain a healthy bankroll a bet of $0.001 is a great mantra compared to the Fiat Casinos minimum bet of $0.01. And not to mention that some casinos give you the right to wager 10 satoshi. So, that bet size for ~~Fiat~~ casinos is the true player protection or the true "BeGambleAware".

Cons: the minimum bet tends to disappear, the 10 satoshi bet remains but not all crypto casinos offer it, being a right of every crypto player, it may not be profitable, but at least every decentralized casino should have it.

Reid

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I wish you enumerate it or made good space for an easy reading material.
Anyway, pros are it is easy to bet in cryptocurrencies without thinking about the country restrictions because most of them do support gambling from other countries. Unlike let's say the gambling platforms in USA which are mostly for their own country only.

Cons: I don't see much cons yet about the platform only but it's easy accessibility is what offers the "con". Kids may bump on them and start being a gambler at their young age when left without supervision.

Uang_kartal

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that's right, we are now in the middle of web 3.0. quite capable of data transfer, visuals and control generators. gambling, art and whatever in it supports standard device memory capacity. just like other friends, some gambling sites there are those who ask for standardization for KYC, there are also those who are so free to access as long as they use crypto assets for a bet. Of course the company that facilitates it has a reason why they provide this convenience. Everything has to be thought through carefully and at the age of 18+, at least people think logically. and the risk he will accept

ChiBitCTy

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Gambling, whether crypto gambling or “traditional” gambling is all the same at the end of the day. One shouldn’t be doing anything other than using money in gambling that is extra “throw away” money, unless you have an elite talent which very very few have. If you’re an insanely smart person who understands the math around it maybe that’s a different story but even then people struggle mightily at times.

Wind_FURY

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Quote from: michellee on May 10, 2022, 05:59:47 AM

Quote from: goldkingcoiner on May 10, 2022, 03:54:45 AM

Adding Bitcoin or any crypto is definitely only going to bring benefits to whatever you are bringing crypto to. As long as that system was dependent somehow on a monetary system for any reason. Gambling is only one of the many branches of industry which benefit from using blockchain technology. Although we have not yet come to the point where gambling is 100% transparent, decentralised, unregulated and fair. Smart contracts might not be complicated enough yet.

But I see web 3.0 as the next generation of gambling. And crypto will definitely be the key player in making that happen.

Web 3.0 can be a solution for decentralized gambling but it may still need more development and besides, casinos also need to upgrade to be able to use web 3.0. If that's the case, we might see something different next year and that could make the gambling business even better.

"Decentralized", does that mean gambling through Web 3.0 will be censorship-resistant? That no governing/regulating entity can shut the site down, or ban users from using the site?

Quote

And it will provide convenience for gamblers because if they can gamble without KYC, it will provide security for them. After all, they don't have to give their data to third parties. But I don't know what the government will do regarding this because the government itself is likely to implement policies that are in line with technological developments.

It's a trade-off, and another set of challenges for the casino. Multi-accounting to take advantage of sign up bonuses could be one kind of swindle that a group of users can do to a casino without KYC.

Mauser

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You seem to mostly focus on the pros of crypto gambling rather than the cons. Nothing wrong with that, I am a fan of gambling for many years and went straight after my 18th birthday to a casino for the first time. I wouldn't really make a difference between crypto of fiat gambling. The casinos are the same, the games are the same, only the form of deposit and withdrawal is different. You can even deposit fiat money and withdraw your winnings in crypto coins. In the end it just comes down to what is easier for you to use and what you think is more valuable longterm. Lossing is part of the game can't be the biggest con argument for crypto gambling, because if everybody would just be winning than the casinos would go bankrupt in 2 weeks. The biggest con is that some people become addicted and are not able to stop by themselves. We need more help for people suffering from addictions.

michellee

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Quote from: goldkingcoiner on May 10, 2022, 03:54:45 AM

Adding Bitcoin or any crypto is definitely only going to bring benefits to whatever you are bringing crypto to. As long as that system was dependent somehow on a monetary system for any reason. Gambling is only one of the many branches of industry which benefit from using blockchain technology. Although we have not yet come to the point where gambling is 100% transparent, decentralised, unregulated and fair. Smart contracts might not be complicated enough yet.

But I see web 3.0 as the next generation of gambling. And crypto will definitely be the key player in making that happen.

Web 3.0 can be a solution for decentralized gambling but it may still need more development and besides, casinos also need to upgrade to be able to use web 3.0. If that's the case, we might see something different next year and that could make the gambling business even better.

And it will provide convenience for gamblers because if they can gamble without KYC, it will provide security for them. After all, they don't have to give their data to third parties. But I don't know what the government will do regarding this because the government itself is likely to implement policies that are in line with technological developments.

batang_bitcoin

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Quote from: BitcoinPanther on May 09, 2022, 05:41:14 PM

Quote from: Boristhecat on May 09, 2022, 04:22:21 PM

Secondly, no gambling can be a source of stable income,

If you are the owner or host, then it can be a source of stable income. It might be difficult for a player but many professional gamblers made a living out of gambling.

As an owner, before you make it a stable source of income, you need to make it a popular casino so that it can operate without having any problem to think of about how many users are in your casino.
I agree that it could be a great source of income if you're the owner but making it as popular as the others, it will take time for you and requires a lot of hard work in doing so.

goldkingcoiner

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Adding Bitcoin or any crypto is definitely only going to bring benefits to whatever you are bringing crypto to. As long as that system was dependent somehow on a monetary system for any reason. Gambling is only one of the many branches of industry which benefit from using blockchain technology. Although we have not yet come to the point where gambling is 100% transparent, decentralised, unregulated and fair. Smart contracts might not be complicated enough yet.

But I see web 3.0 as the next generation of gambling. And crypto will definitely be the key player in making that happen.

Reatim

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Quote from: Kingsyoung on May 08, 2022, 08:59:32 AM

.

Let’s talk about the cons:
Ofcourse, there is a fly in any honey pot. Playing at an online crypto casino has some disadvantages that are worth thinking about, too.
Firstly, crypto-gambling is never a stable source of profit because anything can happen(loss) .

That's a very long read mate , you should put at least paragraphing in that top part lol.

There are some good in Online gambling , we can see that in some thread in gambling section in which players constantly posting their wins almost each day, But of course they are not posting how much they spend before the winning .

Oshosondy

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Gamble responsibly

Quote from: Boristhecat on May 09, 2022, 04:22:21 PM

This phrase sounds strange to me. Firstly, does this only apply to crypto gambling? Secondly, no gambling can be a source of stable income, unless of course you are from the side of the casino, although I have heard that sometimes even casinos get into temporary drawdowns due to the fact that someone hits the jackpot.

Gambling should just be taken for fun and should not go beyond that, gamling should not be a business means of making money for gamblers like you said or they will lose and will be the worst time of their lives as they will be addicted. About gambling sites, anyone that hit the jackpot is a bonus for them in the long term because some people will only be encouraged to continue to accumulate bet, thinking that one day will be for them but that one day that may not ever come, gambling companies are always growing and making more money because it is definite that people will gamble and lose.

ralle14

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Quote from: BitcoinPanther on May 09, 2022, 05:41:14 PM

It might be difficult for a player but many professional gamblers made a living out of gambling.

It's still possible if you know how to arbitrage bet consistently and at the same time get away with the bookies but it's not worth going for as a regular gambler since it requires a huge bankroll in order to make your profits count.

Quote from: Sirait on May 09, 2022, 05:26:53 PM

Moreover, many crypto gambling sites still have faucet features and promotions, which really helps. while fiat gambling sites or offline casinos very rarely make features such as faucets or promotions/events.

I thought most of the faucets were already removed by crypto casinos but I agree with the promotions even though a lot of gamblers are competing with contests and lotteries there are still a few good ones that appear once in a while that'll net you a decent profit.

gagux123

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Well... I confess that there is not much to be commented here, because I believe it has already been discussed

But i found some pros... is privacy and speed/practicality for gambling
And some negative points... (KYC - Know your customer) because sometimes it can be mandatory

Topic: PROS AND CONS OF CRRYPTOGAMBLING. - page 10. (Read 1533 times)