The difference between a true Crypto gambling site and a Fiat/Crypto site.. - page 5.

GreatArkansas

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Quote from: dothebeats on July 24, 2020, 04:32:54 PM

It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat.
(....)

Oh. There are some gambling websites that will convert your cryptocurrency deposit to fiat after depositing it?
Jeez. This is my first time to know this, this is extremely awful especially the price of the Bitcoin after they will convert it to fiat, it really matters.
Gamblers should know this before they are depositing so they will not get pissed off.

Quidat

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DGbet.fun - Crypto Sportsbook

Quote from: dothebeats on July 24, 2020, 04:32:54 PM

They just want to ride the hype of cryptocurrency gambling sites and take a share of the market for theirs. It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat. It's one of the main reasons I see why people prefer crypto gambling sites more than traditional fiat online casinos. It seems like you have no freedom to bet whatever amount you have in mind in these casinos which is a bummer especially if you want to last in the casino and just have a good time.

On point! Also if you've been playing from cryptocurrency based gambling site then you will able to tell the difference among the two and you do have the option neither you do deal with it or would just stick out
on where you do start on playing.Its just a preference and if you do find out that it sucks big time when your crypto bets is always converted to fiat then its your decision.
They are indeed just riding on the hype and since they do know that they can potentially make out money if they do integrate crypto as part of their payment but somehow we can still see the difference
the numbers of player who do play on pure crypto sites that on those fiat/crypto one.

TimeTeller

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Quote from: mindrust on July 24, 2020, 01:48:19 PM

They want to their piece from the action.

FIAT casinos are greedy af and they mostly suck. They see casinos like stake & freebitco are making huge stacks while being provably fair, letting instant withdrawals and satoshi-wise bets and they get mad.

Not just that, they are actually losing money because every gambler that doesn't play on their casino, is a loss.

Crypto gamblers are not (completely Grin

) stupid though. FIAT casinos have nearly zero chances of attracting a crypto player.

In time crypto casinos may absorb the whole fucking thing.

I don't know if it is bad or good but, that's the best use case of crypto. Cool

(anonymous gambling)

In addition to that, most of these fiat casinos which now turn to be hybrid (accepting crypto) are still requiring KYC from their customers.
That is because, it is part of their license and they can't totally remove it because they still have fiat.
So that is their disadvantage in this game. Most crypto users don't want to submit their KYC docs.
There are reputable full time crypto casinos that don't require KYC, so why not play with them, right?

dothebeats

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Cashback 15%

They just want to ride the hype of cryptocurrency gambling sites and take a share of the market for theirs. It's true, it's annoying that these gambling sites are open to accepting crypto deposits but once you play, it is immediately converted to fiat. It's one of the main reasons I see why people prefer crypto gambling sites more than traditional fiat online casinos. It seems like you have no freedom to bet whatever amount you have in mind in these casinos which is a bummer especially if you want to last in the casino and just have a good time.

mindrust

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They want to their piece from the action.

FIAT casinos are greedy af and they mostly suck. They see casinos like stake & freebitco are making huge stacks while being provably fair, letting instant withdrawals and satoshi-wise bets and they get mad.

Not just that, they are actually losing money because every gambler that doesn't play on their casino, is a loss.

Crypto gamblers are not (completely Grin

) stupid though. FIAT casinos have nearly zero chances of attracting a crypto player.

In time crypto casinos may absorb the whole fucking thing.

I don't know if it is bad or good but, that's the best use case of crypto. Cool

(anonymous gambling)

ryzaadit

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It's not about paying or money, they used a third parties slot game, so they cannot change the policy or term & condition of the game. Must accept all rules or other things from the game provider.

The casino only connected their website to the game provide through API game provider, that's why they cannot change at all the currency we can use for slot games. That's would be a different case if they created the game itself like "Stake" when they created their own slot and can be used whatever cryptocurrency you want to use for betting activity.

If you looking specific answer, then need one of the people who from the developer, team, or owner the casino to answer your question. But they will not have time to answer you, to busy operating the casino XD.

Kakmakr

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I noticed a kind of trend these days, with a lot of Fiat online casinos, starting to offer Crypto currencies. The problem with these casinos are that they are not really Crypto gambling sites. Let's take the Slots for instance... Your normal Fiat online gambling sites will never offer bets smaller than say $0.10 per bet.... but the true Crypto gambling sites will offer bets for a fraction of a cent. (Stake.com original games for instance makes true use of Crypto micro bets and also sites like Freebitco.in)

The other sites will take your Crypto currencies, but they will still use Fiat values as a guideline to determine the minimum bet... this does not make full use of one of the best aspects of Crypto currencies... which is micro payments.

Can anyone in the gambling industry explain to us, why this is done? Do you have to pay high royalties to the third party developers for these games and/or are you afraid that Fiat customers would start playing with Crypto currencies, if you allowed smaller minimum bets for Crypto customers?

Topic: The difference between a true Crypto gambling site and a Fiat/Crypto site.. - page 5. (Read 658 times)