Running a casino during crypto crash - page 2.

Mahanton

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Quote from: erep on December 21, 2022, 04:21:49 PM

Quote from: maydna on December 21, 2022, 12:46:24 PM

They are wrong if they think it is investment money that they can use to multiply that money because it is not an investment. What's called an investment is they have to use a certain amount of money, not use it for anything, and only save it for a few years. Later after several years have passed, they will see how much the value of the investment they made a few years ago. And so far, it's bitcoin that can be a suitable investment for them. But in gambling, we have the opportunity to lose, even though we can also win, but it won't be as much as if we lose.

If the gambler only holds BTC in a gambling account without using it to gamble then it includes investment, but it is recommended that each investment is managed in a personal wallet and does not trust investments in gambling accounts even centralized exchanges, for gambling you must determine the lowest allocation of funds for gambling because gambling is not chasing profit but for entertainment in spare time, if you lose then you don't have bad impact on your BTC investment in personal wallet.

Only dumb people would really be making those platforms to be served as their main investment wallet, it doesnt really make any sense for those kind of action considering that you dont possess or own the keys of such
wallet which on the time that these sites or platforms had closed their doors or become scam then you wont really be having a chance if we do speak about recovery.This is something you should really be avoiding.
In talks about running a casino on a crypto crash then it wont really be that much of an issue since casinos could easily adapt since they could really gain the same amount of coins basing up on fiat value on the
time that those gamblers having those gambling sessions or activities.On the time that the market would really be having some bull run or recovery then they do even earn more with that.

erep

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Quote from: maydna on December 21, 2022, 12:46:24 PM

They are wrong if they think it is investment money that they can use to multiply that money because it is not an investment. What's called an investment is they have to use a certain amount of money, not use it for anything, and only save it for a few years. Later after several years have passed, they will see how much the value of the investment they made a few years ago. And so far, it's bitcoin that can be a suitable investment for them. But in gambling, we have the opportunity to lose, even though we can also win, but it won't be as much as if we lose.

If the gambler only holds BTC in a gambling account without using it to gamble then it includes investment, but it is recommended that each investment is managed in a personal wallet and does not trust investments in gambling accounts even centralized exchanges, for gambling you must determine the lowest allocation of funds for gambling because gambling is not chasing profit but for entertainment in spare time, if you lose then you don't have bad impact on your BTC investment in personal wallet.

Fatunad

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Quote from: Tanvi50_ on December 21, 2022, 03:23:38 PM

There are people who are still playing games at the casino. They might win or lose. But in the meantime, the casino is making money. As long as people are connected to the system, then they will not go out of business.
This is just how business works. They lose on one side and gain profit from the other side.

Come to mind off that they do even survive into that 2 year pandemic situation which they might have closed their doors into those physical casinos but eventually came back when everything is gradually turning into
normal which does simply imply that there's really a solid demand when it comes to gambling and same goes for online casinos as well on which they are the ones who had made out so much revenue into those pandemic
years which people do make out some switch up from physical to online due to some health protocols which do really give out that kind of advantage over into those physical ones.
As long there's a demand or simply those gamblers who do want to play then this industry cant really die.

Tanvi50_

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There are people who are still playing games at the casino. They might win or lose. But in the meantime, the casino is making money. As long as people are connected to the system, then they will not go out of business.
This is just how business works. They lose on one side and gain profit from the other side.

maydna

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Quote from: Taskford on December 17, 2022, 06:18:07 PM

The money we deposit on casino is the money we intend to lose but I don't know for what other think about it since maybe some newbie think that this is investment money where they can multiply their asset and which is bad mindset since in gambling we all know that this is pure luck especially if we are dealing in luck based games.

They are wrong if they think it is investment money that they can use to multiply that money because it is not an investment. What's called an investment is they have to use a certain amount of money, not use it for anything, and only save it for a few years. Later after several years have passed, they will see how much the value of the investment they made a few years ago. And so far, it's bitcoin that can be a suitable investment for them. But in gambling, we have the opportunity to lose, even though we can also win, but it won't be as much as if we lose.

libert19

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If it's crypto casino, betting and payouts would happen in that crypto itself, so I don't see how market price of cryptos would affect in anyway.

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Quote from: Taskford on December 17, 2022, 06:18:07 PM

The money we deposit on casino is the money we intend to lose but I don't know for what other think about it since maybe some newbie think that this is investment money where they can multiply their asset and which is bad mindset since in gambling we all know that this is pure luck especially if we are dealing in luck based games.

As far as reading back where the topic of deposit can be considered as an investment started, I think that's not what the whole thing is all about. I didn't read somewhere that someone considered depositing money in a casino as an investment in the first place, are there really people who will think that?

Although targeting profits, it's obvious that deposits we made in casinos can't act in the same way as we put money on the usual investment.

If someone thinks that way, they need to be put on a serious learning.

Taskford

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Quote from: romero121 on December 17, 2022, 05:38:21 PM

Quote from: LUCKMCFLY on December 16, 2022, 06:52:59 PM

Quote from: Betwrong on December 01, 2022, 05:59:12 AM

Quote from: SirLancelot on November 24, 2022, 04:28:45 PM

Quote from: Betwrong on November 24, 2022, 05:17:38 AM

Gambling site is not a bank, nor it is an exchange. Most gamblers, more than 90% of them, deposit on a gambling platform only what they can afford to lose. They are not like "The more money I invest in it, the more profit I will get." Only sick people think that way, only so called "problem gamblers" see gambling as some sort of a business, and, fortunately, there's less than 10% of them among gamblers. So, can it be mandatory for gambling sites to show proof of money to those people, to problem gamblers? I don't think so. Those people need professional medical treatment rather than "proof of money", something that will likely only worsen their condition.

That is true for some but I think there are some who bets more than what they can afford because this is gambling man and it is addicting or someone will get annoyed when they lose so they will try to deposit again in the hopes of recovery. Also there are gambling sites that can work like a bank or an exchange where they allow gamblers to invest money on them.

If you are a gambler whose aim is to make profit, you believe that the more capital you have the more your chances of winning because you can be able to spin more and there are cases where big multipliers came out the longer you play the game. This is why showing proof of money is necessary.

This is a horrible approach to gambling, and I would advise strongly against it. Although it is true that the higher your bets, the more you can win, we shouldn't forget that we are always a bit more likely to lose. That is why we should never risk more than we can afford to lose, no matter how big our imaginary potential rewards can be.

As for the "showing proof of money", I think only governmental regulators can say if that "proof" is really a proof. Regular folks like us can be easily fooled.

Everything you say is very true, also what you say at first is very true, I do not think that depositing money in a casino can be seen as an investment, it is obviously the money that we are willing to lose, it is much more likely to lose it than win it, that is something that no one can deny, we are fighting against the advantage that the casino has plus the advantage that the game has, which is a system that is difficult to win, only touches of luck is what can be taken advantage of, this is what We must be very careful in Ceuna, where there are platforms with few investment options, perhaps with those that have tokens, but that is an investment that is made in the very, very long term.

Deposit we've made on Casinos can't be connected with investment. When you gamble you have the chance to win/loss whereas with investment you'll experience good return/loss, but it is possible to recover the capital if the user have got the ability to hold. The same isn't possible with gambling.

Lost is lost, and we need to make further deposit which is quite risky. Luck plays major part with gambling as well as with investment. So, when we find ourselves lucky it is good to make use of the opportunity and try to make an exit for that time period.

The money we deposit on casino is the money we intend to lose but I don't know for what other think about it since maybe some newbie think that this is investment money where they can multiply their asset and which is bad mindset since in gambling we all know that this is pure luck especially if we are dealing in luck based games.

romero121

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Quote from: LUCKMCFLY on December 16, 2022, 06:52:59 PM

Quote from: Betwrong on December 01, 2022, 05:59:12 AM

Quote from: SirLancelot on November 24, 2022, 04:28:45 PM

Quote from: Betwrong on November 24, 2022, 05:17:38 AM

Gambling site is not a bank, nor it is an exchange. Most gamblers, more than 90% of them, deposit on a gambling platform only what they can afford to lose. They are not like "The more money I invest in it, the more profit I will get." Only sick people think that way, only so called "problem gamblers" see gambling as some sort of a business, and, fortunately, there's less than 10% of them among gamblers. So, can it be mandatory for gambling sites to show proof of money to those people, to problem gamblers? I don't think so. Those people need professional medical treatment rather than "proof of money", something that will likely only worsen their condition.

That is true for some but I think there are some who bets more than what they can afford because this is gambling man and it is addicting or someone will get annoyed when they lose so they will try to deposit again in the hopes of recovery. Also there are gambling sites that can work like a bank or an exchange where they allow gamblers to invest money on them.

If you are a gambler whose aim is to make profit, you believe that the more capital you have the more your chances of winning because you can be able to spin more and there are cases where big multipliers came out the longer you play the game. This is why showing proof of money is necessary.

This is a horrible approach to gambling, and I would advise strongly against it. Although it is true that the higher your bets, the more you can win, we shouldn't forget that we are always a bit more likely to lose. That is why we should never risk more than we can afford to lose, no matter how big our imaginary potential rewards can be.

As for the "showing proof of money", I think only governmental regulators can say if that "proof" is really a proof. Regular folks like us can be easily fooled.

Everything you say is very true, also what you say at first is very true, I do not think that depositing money in a casino can be seen as an investment, it is obviously the money that we are willing to lose, it is much more likely to lose it than win it, that is something that no one can deny, we are fighting against the advantage that the casino has plus the advantage that the game has, which is a system that is difficult to win, only touches of luck is what can be taken advantage of, this is what We must be very careful in Ceuna, where there are platforms with few investment options, perhaps with those that have tokens, but that is an investment that is made in the very, very long term.

Deposit we've made on Casinos can't be connected with investment. When you gamble you have the chance to win/loss whereas with investment you'll experience good return/loss, but it is possible to recover the capital if the user have got the ability to hold. The same isn't possible with gambling.

Lost is lost, and we need to make further deposit which is quite risky. Luck plays major part with gambling as well as with investment. So, when we find ourselves lucky it is good to make use of the opportunity and try to make an exit for that time period.

LUCKMCFLY

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Quote from: Betwrong on December 01, 2022, 05:59:12 AM

Quote from: SirLancelot on November 24, 2022, 04:28:45 PM

Quote from: Betwrong on November 24, 2022, 05:17:38 AM

Gambling site is not a bank, nor it is an exchange. Most gamblers, more than 90% of them, deposit on a gambling platform only what they can afford to lose. They are not like "The more money I invest in it, the more profit I will get." Only sick people think that way, only so called "problem gamblers" see gambling as some sort of a business, and, fortunately, there's less than 10% of them among gamblers. So, can it be mandatory for gambling sites to show proof of money to those people, to problem gamblers? I don't think so. Those people need professional medical treatment rather than "proof of money", something that will likely only worsen their condition.

That is true for some but I think there are some who bets more than what they can afford because this is gambling man and it is addicting or someone will get annoyed when they lose so they will try to deposit again in the hopes of recovery. Also there are gambling sites that can work like a bank or an exchange where they allow gamblers to invest money on them.

If you are a gambler whose aim is to make profit, you believe that the more capital you have the more your chances of winning because you can be able to spin more and there are cases where big multipliers came out the longer you play the game. This is why showing proof of money is necessary.

This is a horrible approach to gambling, and I would advise strongly against it. Although it is true that the higher your bets, the more you can win, we shouldn't forget that we are always a bit more likely to lose. That is why we should never risk more than we can afford to lose, no matter how big our imaginary potential rewards can be.

As for the "showing proof of money", I think only governmental regulators can say if that "proof" is really a proof. Regular folks like us can be easily fooled.

Everything you say is very true, also what you say at first is very true, I do not think that depositing money in a casino can be seen as an investment, it is obviously the money that we are willing to lose, it is much more likely to lose it than win it, that is something that no one can deny, we are fighting against the advantage that the casino has plus the advantage that the game has, which is a system that is difficult to win, only touches of luck is what can be taken advantage of, this is what We must be very careful in Ceuna, where there are platforms with few investment options, perhaps with those that have tokens, but that is an investment that is made in the very, very long term.

minime0105

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Quote from: Desmong on December 12, 2022, 05:35:39 PM

Quote from: Ebede on December 12, 2022, 04:26:36 PM

Quote from: roslinpl on December 10, 2022, 06:47:00 PM

Many people loss their job due to recession, this force the people to find the online games. This is only reason of people to get into crypto currency trading as their real time business. But crypto is not a good for the real time trading due to market crush. Parallel doing of crypto casino will help some benefits. Additional income is the extreme reason for this. But learning strategy also important one. Learning make you to win for the longer one as compared to short run without the experience. This only make you to win for the shorter period and that too by the luck. Luck based will not works all the time.

During a recession many people lost their jobs I can attest or agree for that but why some people are not feeling bad towards that is because of introduction of cryptocurrency cryptocurrency being bitcoin have reduced the rent of unemployment and the border to people especially trading in Bitcoin so right now I consider trading as part of employment that use of our days engage their self in order to make finance

I think we should be heading to another recession by now since things are getting expensive everyday. The market looks some how going dip but what we can do now is to hold on to how we gamble and earn from the crypto market since the the market is not that convincing. I will prefer us to be very awaken and go for what we want so that we can be able to get whatsoever we wants.

This time around in the best time someone can buy bitcoin and hold it for Long stay for long periods, I believe that the market is going down day by day and many people is afraid of holding their Bitcoin because of what they are experiencing in the market right now, so the best option option to do is for you as investor of cryptocurrency to hold whatever coin that you are having in your portfolio and especially those coins that have a potential not shitcoins and potential coins like Bitcoin

Desmong

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Quote from: Ebede on December 12, 2022, 04:26:36 PM

Quote from: roslinpl on December 10, 2022, 06:47:00 PM

Many people loss their job due to recession, this force the people to find the online games. This is only reason of people to get into crypto currency trading as their real time business. But crypto is not a good for the real time trading due to market crush. Parallel doing of crypto casino will help some benefits. Additional income is the extreme reason for this. But learning strategy also important one. Learning make you to win for the longer one as compared to short run without the experience. This only make you to win for the shorter period and that too by the luck. Luck based will not works all the time.

During a recession many people lost their jobs I can attest or agree for that but why some people are not feeling bad towards that is because of introduction of cryptocurrency cryptocurrency being bitcoin have reduced the rent of unemployment and the border to people especially trading in Bitcoin so right now I consider trading as part of employment that use of our days engage their self in order to make finance

I think we should be heading to another recession by now since things are getting expensive everyday. The market looks some how going dip but what we can do now is to hold on to how we gamble and earn from the crypto market since the the market is not that convincing. I will prefer us to be very awaken and go for what we want so that we can be able to get whatsoever we wants.

Newlifebtc

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Quote from: triangularsquare on November 19, 2022, 04:36:08 PM

Hello guys, as an attempt to protect new or old users on this forum , I think its mandatory for gambling sites to show proof of money they are holding in reserves . Unless casinos converts all deposits to a stablecoin , excluding UST hahahah , from year to date most of them should be running on a loss as most utilized crypto coins are down by atleast 65% and that includes Bitcoin .

There will be more and more accusations created to existing and also new casinos.

Goodluck,Be safe and smart out there!!

I did not fully understand what you mean by that I know that sun casino platforms does not the mind all the ways to fall some coins that is not valuable in the market but the way I'm seeing it as soon as now it's not welcoming the call in like they know that I have early to value but being outgoing or I should come so I thought that I will try to understand your point in this particular emphasis you are making

Fortify

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Quote from: triangularsquare on November 19, 2022, 04:36:08 PM

Hello guys, as an attempt to protect new or old users on this forum , I think its mandatory for gambling sites to show proof of money they are holding in reserves . Unless casinos converts all deposits to a stablecoin , excluding UST hahahah , from year to date most of them should be running on a loss as most utilized crypto coins are down by atleast 65% and that includes Bitcoin .

There will be more and more accusations created to existing and also new casinos.

Goodluck,Be safe and smart out there!!

You'd be surprised - there are much more accusations that come when Bitcoin is on an upwards trajectory and people lose money. When it is on a downwards trajectory there will still be sore losers but there is less incentive because their money has actually depreciated since they lost it. Either way, these sort of casinos are able to weather the storm quite well regardless as the regular betting players that they have are often converting from fiat or have another source of cryptocurrency that funds their gambling. These casinos or sportbooks will often have a float balance which can cover most player bets, but they will often cash out beyond that point as they have bills to pay and profits to take.

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Quote from: AmoreJaz on December 12, 2022, 04:15:52 PM

Quote from: freedomgo on December 12, 2022, 03:49:17 PM

Quote from: passwordnow on November 19, 2022, 04:53:17 PM

Check the casino's tabs and pages and see if they're showing how much they've got in their bankroll. Some casinos and dice sites do this and if you're not satisfied with the current one that doesn't show it to you then leave them. They don't have the obligation to show how much they've got especially the reputable ones because we know how huge they are. I think it's not a matter to me as long as I know where I am gambling and I have an idea about the track record of the casino. Btw, this topic should be on Gambling Discussion.

I believe their bankroll amount should be more privatized, instead of letting it show to the public. And if we are seeing that in public, I don’t see it as reliable either as it could be somewhat an estimation. And if the casinos are reputable enough, then there’s no reason to prove it more to the public. These casinos will always be standing strong as long as gamblers will continue to trust them and put their money on these casinos.

besides, it depends on the casino if they will disclose their bankroll to the public or not. some are showing what they have in vault to increase the confidence of the players. because if they see good amount of money, they are relatively at peace that they will get their withdrawal. however, for some new casinos that i've seen here, some users are requesting about their bankroll especially if they are claiming that they can afford tp offer huge amount of winnings.

True, and I do not think that casino will disclose their funds in public unless ordered by the court. Has anyone heard of casinos disclosing their funds in public? Even the government's own casinos do not do that. That includes land-based Casinos and Online casinos. As long as these casinos are following the regulation, they don't need to disclose their fund reserve. So I can say if you win a huge amount from gambling it is still a gamble if you are able to withdraw them without any issue. I hope the government has a clearer regulation and must require casino to publish their fund reserve in order to verfiy if they have the capability to pay the winners.

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Quote from: roslinpl on December 10, 2022, 06:47:00 PM

Many people loss their job due to recession, this force the people to find the online games. This is only reason of people to get into crypto currency trading as their real time business. But crypto is not a good for the real time trading due to market crush. Parallel doing of crypto casino will help some benefits. Additional income is the extreme reason for this. But learning strategy also important one. Learning make you to win for the longer one as compared to short run without the experience. This only make you to win for the shorter period and that too by the luck. Luck based will not works all the time.

During a recession many people lost their jobs I can attest or agree for that but why some people are not feeling bad towards that is because of introduction of cryptocurrency cryptocurrency being bitcoin have reduced the rent of unemployment and the border to people especially trading in Bitcoin so right now I consider trading as part of employment that use of our days engage their self in order to make finance

Fatunad

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Quote from: AmoreJaz on December 12, 2022, 04:15:52 PM

Quote from: freedomgo on December 12, 2022, 03:49:17 PM

Quote from: passwordnow on November 19, 2022, 04:53:17 PM

Check the casino's tabs and pages and see if they're showing how much they've got in their bankroll. Some casinos and dice sites do this and if you're not satisfied with the current one that doesn't show it to you then leave them. They don't have the obligation to show how much they've got especially the reputable ones because we know how huge they are. I think it's not a matter to me as long as I know where I am gambling and I have an idea about the track record of the casino. Btw, this topic should be on Gambling Discussion.

I believe their bankroll amount should be more privatized, instead of letting it show to the public. And if we are seeing that in public, I don’t see it as reliable either as it could be somewhat an estimation. And if the casinos are reputable enough, then there’s no reason to prove it more to the public. These casinos will always be standing strong as long as gamblers will continue to trust them and put their money on these casinos.

besides, it depends on the casino if they will disclose their bankroll to the public or not. some are showing what they have in vault to increase the confidence of the players. because if they see good amount of money, they are relatively at peace that they will get their withdrawal. however, for some new casinos that i've seen here, some users are requesting about their bankroll especially if they are claiming that they can afford tp offer huge amount of winnings.

Disclosing or not into the public, it cant still assure if the casino would last long or not.It would always falls or boils down on the demand because if they do only have that sufficient bankroll but people do gets interested
then it would surely be lasting until they would be establishing themselves compared into those who do have huge bankroll but cant able to get that attention or demand then it would be purely useless.
But we cant really deny that a casino showing off their bankroll would really be having that kind of transparency which does give out that good vibe but as i said
it wont really be pertaining about assurance yet everything could really happen next in line.

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Quote from: freedomgo on December 12, 2022, 03:49:17 PM

Quote from: passwordnow on November 19, 2022, 04:53:17 PM

Check the casino's tabs and pages and see if they're showing how much they've got in their bankroll. Some casinos and dice sites do this and if you're not satisfied with the current one that doesn't show it to you then leave them. They don't have the obligation to show how much they've got especially the reputable ones because we know how huge they are. I think it's not a matter to me as long as I know where I am gambling and I have an idea about the track record of the casino. Btw, this topic should be on Gambling Discussion.

I believe their bankroll amount should be more privatized, instead of letting it show to the public. And if we are seeing that in public, I don’t see it as reliable either as it could be somewhat an estimation. And if the casinos are reputable enough, then there’s no reason to prove it more to the public. These casinos will always be standing strong as long as gamblers will continue to trust them and put their money on these casinos.

besides, it depends on the casino if they will disclose their bankroll to the public or not. some are showing what they have in vault to increase the confidence of the players. because if they see good amount of money, they are relatively at peace that they will get their withdrawal. however, for some new casinos that i've seen here, some users are requesting about their bankroll especially if they are claiming that they can afford tp offer huge amount of winnings.

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Quote from: passwordnow on November 19, 2022, 04:53:17 PM

Check the casino's tabs and pages and see if they're showing how much they've got in their bankroll. Some casinos and dice sites do this and if you're not satisfied with the current one that doesn't show it to you then leave them. They don't have the obligation to show how much they've got especially the reputable ones because we know how huge they are. I think it's not a matter to me as long as I know where I am gambling and I have an idea about the track record of the casino. Btw, this topic should be on Gambling Discussion.

I believe their bankroll amount should be more privatized, instead of letting it show to the public. And if we are seeing that in public, I don’t see it as reliable either as it could be somewhat an estimation. And if the casinos are reputable enough, then there’s no reason to prove it more to the public. These casinos will always be standing strong as long as gamblers will continue to trust them and put their money on these casinos.

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Quote from: AmoreJaz on December 10, 2022, 06:57:05 PM

Quote from: SquallLeonhart on December 10, 2022, 07:12:23 AM

Quote from: triangularsquare on November 19, 2022, 04:36:08 PM

Hello guys, as an attempt to protect new or old users on this forum , I think its mandatory for gambling sites to show proof of money they are holding in reserves . Unless casinos converts all deposits to a stablecoin , excluding UST hahahah , from year to date most of them should be running on a loss as most utilized crypto coins are down by atleast 65% and that includes Bitcoin .

There will be more and more accusations created to existing and also new casinos.

Goodluck,Be safe and smart out there!!

I believe that nothing would really make you stand out just because we are in the crash and you provided something. If you are a good casino during the bull period you will be a good one during bear, if you like doing something during bear then you will like it during bull.

A good casino packed with people will be a good casino packed with people in any cases. Sure during bear there will be less, but if it was more than other casinos during bull, it will be more than other casinos during bear as well. I personally like the situation we are in right now, it means if we make any money from the promotions or anything, it will be bigger when bitcoin price grows.

gamblers will play no matter what the season is, bull or bear. this is why casinos especially online sites are surviving. but that is, if the management knows how to handle their business countering any type of crisis. they should know how to sustain the interest of their players by offering some rewards or bonuses or even run contests. if you are not ready enough for this kind of business, you will easily go bankrupt and just wasting your resources. so setting-up may be easy but maintaining day to day operations is another thing.

Yes, casino owners are aware and they will provide it to make sure that the client/gambler will continue to keep coming back, in the side of those gamblers, I agree that whatever season it is, they will continue to play and will bring money inside casino as long as they are enjoying or for some/many they are already addicted and no longer capable of controling their engagement with the casino.

Setting up is easy but like what you said, there are lots of factors to consider to maintain and to make sure that gamblers will continue to use the platform.

Topic: Running a casino during crypto crash - page 2. (Read 7239 times)