Topic: PROS AND CONS OF CRRYPTOGAMBLING. - page 2. (Read 1552 times)

That may be because no one plays gambling in your area, so they will be disappointed if they see you playing gambling. In some countries, gambling is not accepted and even gambling is considered a wrong way to make money. People will easily judge other people looking for money in the wrong way so it's better we don't use it.

That is why the existence of crypto can provide an opportunity for people to hide their identity from others, even those closest to them. But the opportunity to hide their identity can cause other problems, namely, if they are addicted to gambling, no one else will know and if it is severe, they will likely be difficult to save.

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. 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.

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) .
 

Majority of crypto gambling sites arent asking for some verification or simply with KYC because we are on a market where decentralization do really matters but of course since these platforms are centralized then expect or anticipate that anytime they could really ask it out if they do notice something and this one is mostly shown on their terms and conditions.With the easy access that we do have today
then playing gambling is easy as breeze and in speaking with pros and cons in terms or financial situation and effects then it would be easily to determined with just
common sense.hehehe

People in the offline world frowns to the gamblers they see on traditional casinos. 
If I am seen by people who knew my mother, they'd likely be disappointed when they see me inside a gambling house. People judge us all the time and they may think I also do drugs while gambling.
 
But if I do it online with crypto, I may have saved my face. That's one of the CONS of cryptogambling, its online. No one will ever see me loitering inside a gambling house.

Currently, gambling sites are indeed required to do KYC, but there are also those that do not require their users to do KYC, for example, Gamdom

other than that the KYC that is required is usually KYC level 1 and it's not that complicated (compared to KYC levels 2 and 3) so it's not that hard right now

Unfortunately, this is currently only true for small amounts. Theoretically, you can use any amount, but I'm sure that most casinos will ask for KYC (at least if you win and try to make a withdrawal) so you should always be prepared for wasting time on this procedure plus being able to pass KYC - if you are under 18 or gambling is prohibited in your country, then you need to have a fake identity in advance.

Gambling can be subjective. Those countries where gambling is a taboo has a very simple definition of gambling. Don't they realize that in real life we also gamble or take risks? Gambling is a form of entertainment, it only becomes a sin because most people get addicted to it with the mindset of it can make them rich in short amount of time, which only happens to very few people that are lucky. Gambling is a business to entertain people, they did not promise some returns.

This is why casinos are very careful when adding yet another coin for gamblers to use, with so many coins out there and with people investing in them every single day then I can get why those people would like for their coin to be accepted by their favorite casino, but we also need to take allow at this from the perspective of the casinos as well, and in many cases the benefits they could get are nowhere near the risks they will nee to take, which is why most casinos accept the very same cryptocurrencies and make little effort to accept even more coins.

People in the offline world frowns to the gamblers they see on traditional casinos. 
If I am seen by people who knew my mother, they'd likely be disappointed when they see me inside a gambling house. People judge us all the time and they may think I also do drugs while gambling.
 
But if I do it online with crypto, I may have saved my face. That's one of the CONS of cryptogambling, its online. No one will ever see me loitering inside a gambling house.

Online gambling provides an opportunity for people curious about what gambling is like. People who have never gambled before will try to play gambling because of curiosity or by reading the experiences of other people who have played gambling for a long time. It's also the case with people in countries where gambling is taboo and illegal because of that curiosity. As long as they try to chase winnings from gambling and only play gambling for fun and can control themselves, they will not get into trouble from gambling.

In many countries where gambling is a taboo - and people do not gamble because its not legal and its considered as a sin.
The people there can do online gambling and satisfy themselves. However - those people have a thought behind their mind if they are doing the right thing or not.

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.

I see in some countries there are also many people who gamble like for example in Las Vegas, there gambling is very normal and there is no need to think about sin or anything, they already know that it can make them lose and get rich quickly, but not all of them can. Get lucky very quickly, gambling depends on the luck you have.

Gambling can be subjective. Those countries where gambling is a taboo has a very simple definition of gambling. Don't they realize that in real life we also gamble or take risks? Gambling is a form of entertainment, it only becomes a sin because most people get addicted to it with the mindset of it can make them rich in short amount of time, which only happens to very few people that are lucky. Gambling is a business to entertain people, they did not promise some returns.

In many countries where gambling is a taboo - and people do not gamble because its not legal and its considered as a sin.
The people there can do online gambling and satisfy themselves. However - those people have a thought behind their mind if they are doing the right thing or not.

If there is a KYC, it's not anymore anonymous but what do you mean precisely by saying it could also be a disadvantage if you have problems with a casino? All cryptocasinos are offshore casinos, even russian ones like the one you are promoting, then I don't really understand what giving your identity will change if there is a concern. It usually only depends on the good will of the casino, they only care of their reputation and their need to keep or attract good customers. You will never been able to bring them to justice.

The big advantage is of course that it is relatively anonymous, apart from the KYC. You can deposit as much money as you want, there is no one to check or view a transaction and possibly put it on pause as banks often like to do. And it also goes very fast, you can gamble fairly quickly on the site after an upgrade. And for a payout it is of course exactly the same story. Anonymity could also be a disadvantage if you have problems with a casino.

PROS AND CONS OF CRRYPTOGAMBLING.
I know that one of the greatest questions that crosses our mind is “is gambling worth it?” .
Yes, I know that many times it seems almost impossible to win though at the same time it’s the easiest way of doubling up your money.
Let’s talk about the pros:
It is decentralized:
 (without having one inside zone of command). No one can take your Bitcoins yonder from you or freeze your 'crypto account' due to the sheer of a inside legal/law-based validity in the system. You own your money and your transactions are safe.
It is secure:
 Your payment information cannot be stolen yonder from you. Bitcoin transactions do not require any personal data to be submitted, protecting you from identity theft. And there can be no chargebacks - once sent, Bitcoins transactions are unchangeable. This ways the transaction cannot be reversed or reverted from the way it was recorded in Bitcoin's public ledger, which makes for fewer risks for people who sells.
It is private:
Since no personal information is tying to your Bitcoin wallet, people do not know who (bought something for money) what. At the same time it is clear/open and honest, meaning that anyone can find information on addresses and their balances in a public ledger.
It is fast: It does not matter where you move (from one place to another) your coins to: be it an international move (from one place to another) or a local pizza (instance of ownership something for money). With Bitcoin any. With CoinsPaid's crypto-processing abilities, crypto casino deposits the move (from one place to another) is tropical to immediate.
Bitcoin has (had) low transaction fees: Since there are no (people or businesses who buy goods to sell to stores, not you) in a decentralized network, no one will tuition you for anything. More so , the way the technology is set up there might be fees for faster processing of transactions or (changing from one form, state, or state of mind to another) of bitcoins into fiat currency. Although, most wallets will requite you the option to (adjust/change to fit new conditions) your legation in favour of a quick crypto move (from one place to another) or a low commission.
It is not subject to inflation:
The number of Bitcoins to overly be issued is limited to about  21 million and Bitcoin volume growth is (expected), so they cannot be out like fiat types of money and poured into the (process of people making, selling, and ownership things) at random.
It is not unchangingly taxed:  The tax regulation for digital valuable things has come a long way as Bitcoin and altcoins have been recognized by some states as property, store of value, or plane currency. If you are planning to gamble in Bitcoin, make sure you know what your local tax law says on your winnings or from betting with crypto. But for most countries Bitcoin remains mostly uncontrolled.
In summary, from a player's point of view, Bitcoin is the perfect 'gaming coin'. Players love Bitcoin considering it offers unnamed upper speed transactions for deposits and withdrawals, which do not go through a decentralized financial system. In, most Bitcoin games are 'Provably Fair'.

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) .
 

Yes, if you are a high roller, you should expect that the casino will ask KYC from you especially those with gambling license. So it is not true that you can deposit as much money as you want without KYC. And you need to be careful with casinos that are not active in the forum, as your funds may be at jeopardy if you send big amount. You have no way of reaching out to them if they suddenly freeze your account and decided not to answer your ticket.