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

I think that sites which are fiat based but actually use crypto as payment have their account sheets made in fiat. There can also be reason that these sites don't want very smaller bets because those amounts to no profit or loss on their side and it's a waste of resource. It's like a minimum withdrawal set by a casino in which it demands that players under this value can't withdraw to encourage more bets.

If the crypto gambling website asked the gambler to undergo KYC, the gambler could avoid it, and they can move to another crypto gambling, which doesn't need KYC. They will find the other gambling website because we have so many crypto gambling websites that have a good reputation, and that website doesn't need to fill KYC. I think sooner or later, the crypto casino will grow fast in the future as people can play gambling from anywhere and on any device, and they don't have to undergo KYC if they don't want. However, the fiat gambling website will still run because they already have fans that still come and playing gambling games on their website.

The growing popularity of cryptocurrency is one of the major reasons why fiat currencies are becoming hybrid (fiat/cryptocurrency gambling sites).
They want to go with the current flow. If not, they will lose huge market because there are a lot of gamblers that are betting using crypto.
This is an important market strategy... to be able to ride what is currently on trend.

I think it is just normal that they will still use fiat value to be the guideline for minimum/maximum bet, what's the wrong wit using fiat values as guidelines? Nothing right?

I do agree, crypto gamblers do avoid sites that obliged their users to undergo kyc process, that proves that they want to be anonymous in their gambling activity that's why crypto gambling is the primary choice of gamblers right now. Unlike in fiat based casino since fiat is being used, regulation is still there that's why users have no other choice but to do kyc.

I think when you want to gamble you don't have to do KYC, you can see a number of gambling places that prefer to free their users because they are gambling website makers realize they only want to play while the website founder only wants to get money from those players, so don't make people who want to play a hassle to do KYC.

That is the major advantage of pure crypto gambling website. Players are not obliged to undergo KYC process unless the site asked you to. So if you are playing in pure crypto casino, I don't think it is fair if they want us to submit KYC docs. Definitely, players will avoid them as the purpose of being anonymous is not practiced. However, for fiat-based or hybrid casino, they have no choice but to ask KYC as it is required by their license and permits. And this is the reason why crypto casinos are now becoming popular among gamblers.

Perhaps, the owner of a crypto gambling site requires to send their documents. But I think they will not send the document to the government since the crypto gambling site is operated on the internet because the crypto gambling website and fiat gambling will not be the same. The KYC will be applied in the fiat gambling because the casino use fiat money to gamble, and the crypto gambling use crypto, which is waiting for the legality in many countries. But the differences will be applied in their members, which in the crypto gambling site doesn't have to send KYC while the fiat gambling site needs to send the KYC.

Both crypto and fiat gambling sites requires legal documents in order to freely operate in a certain countires but the laws and regulations are more stiff in terms of fiat gambling sites. The KYC is also a big diffence between the two because in fiat gambleng sites requires identity verification because of they are only following the regulations of the government. In terms of crypto gambling sites, it is decentralized so there are some gambling sites there where you do not need to upload your identity there.

The casino still not legal in some countries, and so do with crypto gambling. But so far, crypto gambling is available on the internet, so I think that is not in their jurisdiction, and they cannot do anything except let it the casino runs. The government will concern with the money that has been sent to the gambler's bank account, and perhaps, they will investigate the account to find if they get an income from the gambling business.

The online casino based on fiat or crypto will use a service that is not related to their country if, in their country, gambling is prohibited because they don't want to get a problem with their government.

Well I think legality is huge factor in casino having a cryptocurrencies, as we know crypto gained a lot of eyes watching it, there are governments who already written a law on it, there are taxed casino with casinos and all of that. Maybe what you are trying to say is that crypto is legal in your country, but that's not the same as the other country. Crypto is very controversial when it comes to table talk in the government coz most of it is decentralized which they fear.

well you already said it "most governments allow it" but not all 

I think his vision is geared more towards craps, slot games, roulette and in general the type of bets that allow micro bets of up to 0.0001 the minimum that I have seen in crypto online casinos.

In Fiat casinos 99% of my time is dedicated to poker and there you get minimum bets of  $ 0.01 what they call NLH 10 / NLH 100 / NLH 1000 etc. which is by the way the levels where there is more traffic. Consequently if they exist, at least in the lowest denomination of Fiat.

Now there is a crucial point here, Fiat casinos are never the same as crypto casinos, by definition in technology they are already different, not in the objective as a business model, which if they have objectives that they can share, which is where there can be confusion.

Fiat casinos are taking advantage of crypto technology to expand their range of deposits in cryptocurrencies, it is another point that can be confusing, that is, it is not a crypto casino for the simple fact of receiving deposits.

100% of Fiat casinos have KYCl. Otherwise with the Crypto casinos in their great majority they do not have KYC, there are many very stable and famous casinos without KYC.

If there is something to recognize as a big difference from the Gambling crypto industry with reference to the Fiat, it is that $ 10 can be an investment that gives you a lot of fun if you like to bet at the level of micro bets.

If you have been on gambling sites that relies on cryptocurrency then you should be able to tell the difference between these sites and the ones that also has fiat currency and it is up to you if want to deal with it or if you want to move on to real crypto gambling sites. I mean you should be able to determine the difference between these sites. It is you decision if you want to convert your cryptos into fiats and if you want to keep it in cryptos. Because these fiat based websites are also joining the crypto wagon and want to get a piece of the action and get profit out of it so definitely you are welcome to test their capabilities or not. Remember fiat based also has KYC on most of them so you got to decide real good if you want to participate or not.

Oh, I am sorry, I don't know about the license. I think they will save their profit in the country that doesn't have any jurisdiction in their country, so their government doesn't know where their profit comes. If they want to use that profit, they only send some amount to their banks, and they will not send the money in a large amount of their bank account so the alarm will not sound. They still pay taxes to their country, but they will not say how much their profit and from where their real business. Perhaps, they will only give a small business that they have to prevent paying big money as the taxes.

As fiat casino owners is fully aware with that thing and they do want to play it safe since crypto isnt widely accepted in most countries so its understandable that they would make up conversions
from crypto to fiat.So it would be an option if a crypto gambler do like a certain game then they would surely deal it up but if they dont see anything something new or interesting then they would
just simply ignore it and stick to those who do accept pure crypto gambling sites and as other been mentioning on here that we should be at least thankful for this adoption yet we do have
more options to take.

Nope, you have it wrong.

Most of these online casinos are licensed in Curaçao where the taxation is more favorable and the politics are stable. So the legality is not such a big motivator for them to decide if they want to accept Crypto currencies or not. The problem come in when they have to submit the documents for taxation and the government where they are licensed does not accept Crypto currencies as a currency.

How do they explain their income derived from a illegal currency? Remember ... most gambling sites use currencies for betting... not commodities. Most governments allow Bitcoin to be a Commodity. 

The business owner tries to look if the crypto is legal or not in their country, so they don't risk for their business to break the law. If they see that everything is okay, and they see they have the chance to integrate their business with the crypto, they will try it and will see how it can give them more money. They still think that fiat gambling still provides benefits to them, but if they can see that the crypto existence can give them more money, they will implement crypto on their website or their place.

Fiat casino cannot also risk the fact they are being audited by the government for taxes so if they will implement crypto betting then the country does not legalize it, it can cause problem to them. They might consider accepting crypto in depositing but not yet in playing, they will just simply convert it which makes no sense since we wanted the value to be still in crypto for some chance to increase. Crypto gamblers will only play in fiat based casino unless they offer games that don't exist yet in crypto based gambling.

The answer to that is of course business owners still see Cryptocurrencies as high risk for an asset as it has very unstable market value. They might develop this features to quickly convert Crypto to Fiat in case a major drop of crypto price happens.
They haven't completely adopted and still needs fiat to safeguard their profits in crypto gamblings.

That we call it adoption.
Gamblers saw how crypto casinos save from paying taxes and other fees unlike for fiat casinos aside from having the minimal bet. The confidence that they experience will likely it brought them become a cryto gambler and leaving offline casinos at this case. But to say that this will not lead to a point that it makes all gamblers will after this because still a lot of wealthy gamblers are also preferred for fiat casinos.

The term was just right! When we do compare on the amount of minimal bet between crypto and fiat then we can really tell the difference.This is why some of players do switch from fiat to crypto because
they do able to try on what are the pros on using crypto when they do gambling which is really a different experience.
When fiat casinos integrate crypto payments then it doesnt really make that a difference because they do still follow up on what theyve been doing generally on fiat terms or system.
Its no surprise that people would still prefer to stick on pure crypto casinos or gambling sites.

You make a very good point, but if you have noticed .... many of these Fiat casinos gives you the option to choose what value you want to see.. so if you are using say the US Dollar, then it will show you the $(Dollar) value and not the Crypto currency value of your bet.

You can make this idiot proof if you wanted to, but I think most casinos are just too lazy to go through all that trouble. The volatility might be a issue too... but that is a discussion for another whole new thread.

I will give you one merit for this input, because I think it is also a concern with them. 

I just hope that they've been transparent all the time, because we don't know exactly what's behind their system. People will bet as they would desire to, but true crypto gambling site is always anonymous to everyone. Unlike fiat betting, you'll enjoying the game physically unlike virtual type of entertainment, everything is always through digital network interaction.

Fiat casinos need a decent capital to start their business,  they will have to take care of the website, promotions and most importantly to get the approval of the license from regulators, while compared to crypto casinos, they can registered to a country or place where license is cheap and crypto friendly at the same time. So in short, the capitalization for crypto casinos is lower compared to fiat casinos and therefore it make sense if they will have a higher minimum bet compared to crypto casinos.

In addition, there are a lot of crypto casinos that starts their operation even without a license and a bad website, so they can just operate for awhile and just stop operation if they want to, they will not lose a lot of money and might probably take the money of the bettors. What's happening now is that crypto casinos are competing already as we have a lot of good casinos in the market now, and they are not only attracting small gamblers but big gamblers or whales as well.

AFAIR, crypto casinos is already a billion dollar business, so that's big already.

I understand where you are coming from but at the same time there are sites which allows you to evaluate your bets in cryptocurrencies like Bitcoins I do think the reason some of the sites prefer doing it in terms of Fiat , is :

Generally the value of cryptocurrencies are volatile and this way they can tell the concerned person to actually evaluate the amount they are betting at that moment.

At the same time sometimes people tend to forget that even 0.005 BTC is a big amount , doing this might help them see the value of that and this way they will be serious and at the same time can take steps accordingly.

There are people who try the Crypto gambling for the first time and such therefore it might just Crater to a big audience.


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I agree that regulations might differ from one country to the next and that might make things more complex for casinos to implement this, but remember there is no difference between a casino selling you credits for Fiat and casinos creating internal crypto tokens to be sold for Fiat. (This is all done in their internal software and not on the Blockchain)

I know a lot of countries allow Bitcoin to be a Commodity ...but they do not allow it to be a Currency and that is where things become a bit more tricky. The thing is... even in these countries, people are still using Bitcoin as a Currency and you even get loads of Crypto ATM's ...so the definition becomes blurry.  

There must be other reasons.. I am waiting for a few responses from different gaming providers.. so let's see what happens.

Simply trusting them because of their reputation might sucks at many times because we never know all those results are right and our luck determined the results.But in cryoto gambling sites you can check the fairness anytime you want.

That can make the crypto gambling sites popular, and we will see many new people who will involve in crypto. They will invest their money in crypto, and not just use the crypto for the investment, but they also use the crypto to playing gambling. For a gambler who is playing gambling at the physical casino, they already found that on the internet, they can play gambling using the crypto gambling sites, and the gambler doesn't have to use fiat, but they need to use crypto to gamble. People will learn how to use crypto and how to deposit and withdraw the crypto and send it to their bank.

Gambling has a method that includes components to determine for those who bet crypto & fiat gambling, in payment.

For me there is a difference in fighting crypto and fiat gambling sites.
Examples of crypto gambling.
• If you bet on gambling sites that provide cryptocurrency, after you determine your bet with crypto, you only need to be 'proficient' in betting.
if you are proficient in the game you have the right to take all bets placed by other members, opponent players, for example: sports gambling, poker etc.
The difference, there is no negotiation / bargaining if gambling with the crypto site cannot be canceled again.

Fiat gamble.
• while betting using fiat money, you can make an agreement when betting with fiat money or can take 'part/all' or 'assets/material', from the agreement, if you lose.
Or the debt will be able to pay for losses on the day that has been determined by both parties, certainly has a handle in a certain period.
The difference, it can be a negotiation.

Not only that, you also have to consider the regulation factor, fiat casinos are surely regulated and hence they need to comply with the regulation which is to ensure that all gamblers have a KYC, in crypto casinos, that is not necessary, we can just come and go even with new email address every time we gamble, the freedom is great with crypto casinos while in fiat casinos, you are being watched by the regulators.

Also, I agree on the amount of bet, there's a big disparity, crypto casinos caters small time gamblers while fiat casinos seems like anti poor casinos, lol,. sorry for the term .haha

people dont dwell with that because fiat casinos are usually registered and have a working certificate  . under thier site we can see the brands that they are partnered  of or if thier site has already been featured  . that give confidence to the players to play and  they dont mind the site fairness anymore  but to the crypto casino its rare to see all those proof however crypto casino can show thier fairness or transparancy  . this is what crypto and blockchain all about or being known for being transparent  .

I think this is the most reasonable answer for the question on this thread.
But if that is really the case, it's already time for casinos to change their games' provider then, I wouldn't think twice between a casino offering small bet sizes such 1 satoshi and another with a minimum of 0,10$ per bet. The industry changed with crypto currencies arrival and traditional gambling casinos are on borrowed time. They need to follow the gambling industry improvements, otherwise they will be left behind...

There are quite a few differences but I think mostly the difference for a FIAT site would have to be compliance. Ofc FIAT casinos have opportunities to cheat from players in other ways aside of compliance. For example FIAT exclusive casinos don't tend to prove their fairness. They usually have software either they built or some third party company has made. Some huge conflicts of interest here.

Surely it will be easy for gambling developers to remove fiat and make 100% crypto. But, we know that all services must also comply with the regulations in which they operate their business, especially those that provide fiat withdrawal services and in countries where legalized bitcoin as a currency not only recognized or as a commodity. AML will be the reason why they will continue to request data later on.

Based on the research I've done, there isn't much difference between the two gambling sites. Both are very feasible to use,
but for someone who is very concerned about privacy. It's best to use true crypto gambling sites, which can usually play
without identification. If fiat sites to make deposits and withdrawals must first do the KYC procedure. Therefore true crypto
gambling sites are much more popular and widely used by the crypto community.

^ Probably the reason is crypto is very popular nowadays and you can see it in almost all social media out there.
There is the main reason why those gambling site owners switching to cryptocurrency, they saw the potential on it especially when pandemic was on the earth and everyone suffered using fiat to avoid virus transmission. There are too many differences and I think the most have an advantage is using crypto than the fiat. Nevertheless, this will have an advantage to the crypto community and probably it will increase the mass adoption of crypto.

Sure thing!

They would able to feel and tell the difference among the two when it comes to privacy thing where it would either interest them or wouldnt care at all.
Since theyve been playing with fiat for a while then most of the time they wouldnt mind much about their privacy.

Fiat casinos are just trying to jump in into other market which they do know that they can make money and its pretty obvious but they do stick
out into their traditional or own ways on handling things up.

You are explaining the benefit of the crypto gambling over fiat gambling but I guess the question being asked is that, why and how to crypto casinos allow such small bets while the fiat casino would never allow such small bets while even the crypto casinos convert our bets into USD value so how do they allow so small bets while fiat casinos cannot.

I believe that is because of the preference I mean even the fiat casinos can accept such small bets but they have much more traffic and users that they don't need to accept the smaller bets. That is just my assumption though.

Prohibiting multiple accounts or accounts more than two are done due to this kind of abuses. But putting up minimum bets have more reasons than just avoiding newcomer abuses. I think casinos are putting up minimum bets probably to avoid nuisance bets flooding in.

Perhaps, you need to perform a lot more KYC in fiat online casino compared to crypto, also, I find the restriction of fiat casino more strict in terms of countries allowed to play using their platform.



Especially those, who will bet a huge amount of their funds, what is a fast deposit and withdrawal if they think it's not secured. Though, these features doesn't necessarily mean that crypto casinos isn't secured, in fact, with blockchain as their foundation, crypto casinos are more transaparent compared to fiat casinos.

I agree with you. Privacy will be the thing that gamblers need to know because if they are using the crypto gambling site, they don't have to reveal their identity to the gambling site. Even they can hide in depositing the money because all they need to do is buying the crypto from the reliable sellers who can protect them from abusing the identity.

The promotion of the crypto gambling website itself will grow from time to time, so people who are familiar with the fiat online gambling will see about the crypto gambling website, and that can make them curious to try. They will feel a different experience while using the crypto as the bet, and I think they will feel comfortable to use crypto for playing gambling.

I think that differences among crypto and fiat gambling casinos are not that much in game offers and features but more in legal and regulation background. Differences in deposit.and withdrawal conditions are not that big.
There are a lot illegal crypto casinos because they are not under strict regulation and authorities don't pay so much attention to them. Also, fiat gamblers are different type of players and they have different approach, they are maybe more interested in security and trustworthy than to fast withdrawal. It's not a rule of course.

Usually this is done to prevent people from running off with bonuses and freebies given to newcomers.

The casinos usually make it simple. Say they have 1 USD bets on their slots so when they introduce cryptocurrency payments you have the same 1 USD bets minimum just converted to crypto. They're like stores. You don't get real crypto bets you just get fiat balance based on your crypto deposits. It's still xxx USD just displayed as crypto.

Both the fiat gambling and crypto gambling are different in nature. Those who do gambling with fiat, they normally do not think to gamble anything less than a cent.But those who gambler with crypto, they sometimes even play dice with 1 dogecoin. I think if anyone is playing crypto gambling with so less amount, it wont give him any monetary benefit.

Those fiats based gambling houses must need to do these so that they could retain their customers.

Time changes>> cryptos evaluate>> gamblers are looking for new things rather than sticking with what they have been used to for years.

So, Fiat houses must need to upgrade them up to the level of crypto gambling.

I believe it is not about minimum bets alone because crypto gambling houses are having many unique features which are not at all available with fiats houses, for example the crypto-only-gambling house is able to exist without the need of license and this way they are available to any country people whereas fist handling must need proper licensing for card processing and bank transfers.

Quick transfer of funds and attracting new customer-base from crypto community must be few other reasons.

I am still trying to get one of the Game developers to respond, but in the meantime I found this :

" Fundamental differences between crypto casinos and online casinos?

There are significant variations between crypto casinos and other casinos online. The most important thing to note is that there are numerous types of crypto casinos. There are 3 popular variants of crypto casinos. The first is the complete crypto casinos where all transactions must be made with cryptocurrencies. Second, the semi-crypto currency casinos or mixed cryptocurrency casinos where payment and withdrawals can be made using digital coins as well as other traditional payment methods. The third type of crypto casino is private casinos that provide closed-source computer software and exclusive games. The shared characteristic between these variants is the fact that bitcoin and digital coins are acceptable modes of payment on crypto casinos. In contrast, most online casinos may not accept digital coins.

Crypto casinos may not be legally authorized, in contrast to online casinos. However, some established crypto casinos may be legally authorized by Curacao. Although the Provably Fair grade is awarded to some casinos without legal authorization as proof that they operate in accordance with the standard rules and regulations, thus showing that it is safe and legal to play games on the website. "

Source : https://bestnetentcasino.info/en/faq/what-is-cryptocurrency-online-casino

So they make a clear distinction between the different types of online casinos you get. I can understand that you have to keep the minimum bet the same for games with Jackpots.. because fiat players cannot pay more to play for the same collective Jackpot... but the other games should be different. 

I am sending emails to these guys, asking this question and I will posting this thread if I get a answer.

It is a reasonable move for these originally fiat only casinos.  It is business, so whenever there is a booming market, they will follow.  anyway, I also noticed this thing to some crypto casinos, especially on slots.  I always experience that whenever I am playing slots my cryptocurrency is automatically converted into points which has an equivalent value in USD.  I think it is not the casino owner's thing but rather the Casino game provider.

I think that there is a difference between both services, although their games or many advantages are similar in their two services and it is claimed that they offer the same quality of service. For example, it is possible to say that many services that provide the ability to gamble with cryptocurrencies attach importance to user anonymity and do not request their users' private information such as identity information, but that many services that provide online gambling service with fiat currency request identity and similar documents to confirm user membership. we can see. We can also see that services that offer gambling with cryptocurrencies generally apply much lower commissions for transactions such as deposits and withdrawals. On the other hand, it is important not to pass without mentioning the fact that websites that provide gambling with cryptocurrencies are generally too low in minimum betting limits.

With the micro payments support cryptocurrencies ease the gameplay while the same can't be done with fiat. Here the privacy, on-time settle of wins, and provably fair nature of the game will be perfect. With fiat based gambling sites the money making is the ultimate thing, and setting a minimum value similar to the cryptocurrency based gambling sites seems hard.

If I was a casino owner, I would prefer having people gamble dollars (or at least cents) rather than a thousandth of a cent. Once minimum bet limits are higher, your profit and total volume increases as well. It would probably be even weird for a regular fiat gambler to be told that with crypto you can gamble a $0.002 coin (DOGE) satoshi, which is equal to literally nothing.

That's the difference in crypto gambling site compared to fiat/crypto gambling site. A fiat casino that also accept crypto have advantages which will also help introduce crypto to those who doesn't know crypto yet compared to a gambling site that starts from crypto.

We just need to promote Crypto gambling site to the general public as something worth looking for gamblers, they have a lot of benefits compared to fiat gambling site we are in a new era of gambling form where bets are transparent and they respect the privacy of users, it's only a matter of time that Crypto gambling sites will dominate the field.

The fiat gambling site will add crypto as the option to gamble, but only if they see that the government allow crypto to be used as the payment. If the site is not seeing the crypto accepted by the government, perhaps, the fiat gambling site will still use fiat to bets. But for a crypto gambling site, the site can still use crypto, so they don't have a problem using small bets amount. Perhaps, the gambler itself will look on different gambling sites, and if they see the benefits of the crypto gambling site, they will move to that site.

It is not a matter of crypto casinos developing their own games or not. It is simply a matter of casinos not accepting micro payments. Fiat/crypto casinos may actually choose to accept micro payments if they want to and crypto casinos may also choose not to accept too small bets.


It is never an advice to gamble in crypto casinos which are both unlicensed and unregulated. That is a recipe for disaster. Accountability is almost nothing.

Crypto casinos can protect anonymity up to a certain extent because they don't require KYC. But there are still conditions that should be complied with, otherwise KYC might still be asked.

Then you should ask to the game provider for exact answer.

He can't answer your question, the game provider not changing the balance the casino you are used change the balance not them. Case in stake, they created their own game so they can be edited what's ever they want, while other casino using third parties service for slot or already contains live game gambling.

BTW.

To be honest, why some casino changing the deposit or money they can receive while we are playing on the their casino. Yes, some casino wants to attract cryptocurrency to used their casino. But some casino main priority is, to make an easy transaction for all of their current casinos too. One of the example, some deposit system who really annoying is item game like CSGO when each item after the trade will have a cooldown trade around 7 days. Also, fiat bank transfer needs time to verify all the transaction some of them need to check manually.

That's why they add cryptocurrency for easy transaction for their current customer but also could be got another customer from cryptocurrency community.

They  arent really taking it seriously imho and just mainly focused  on traditional ways on where they do make big money which is into their casual games.

If we do try to compare it on ex. given which is Stake then its really a far off but we know that its their own choice when implying things but people here on

crypto would able to spot out the difference.

What i learn besides what you pointed out is fiat gambling casinos are on the way out of business in the next five years so many Crypto gambling sites are coming and the fiat based gambling site are dwindling so it's a matter of time, they can include Crypto but it's always best to make it all Crypto for gamblers.

Why can one of the game developers like NetEnt or BetSoft or iSoftBet not just develop a Crypto version of some of their games... why are they porting the Fiat version to convert Crypto currencies to Fiat currencies?

The sites that actually have "pure" Crypto games have awful looking games with very bad graphics and sound. Just think of Stake.com orginal games.    

No really.... there must be at least one developer that can step up to do this properly?  

BVC does the same with their slots instead of using USD your BTC balance is converted to credits and the credit's value in btc is .0001. I also don't know the exact reason but I think it's for their convenience so they don't have to worry about those additional decimal places. Besides there's the fun mode if the reason for accepting small bets is to test the game and a few dice sites are doing it as well through play money.

People are not the same and gamblers have their own preferences and betting the desired amount that they want, and they can only do that in most of the crypto gambling sites. As the amount of money that you can bet in traditional fiat online casinos were fixed, it is really hard to control the money that you can spend in gambling. It can also increase your losses if you are continuously losing and dealing with that feature where you can limit the money that you can bet. Freedom in betting is what we want, and that's the reason why until now, there are a lot of people who are engaging in using crypto gambling sites rather that fiat.

I think the answer will be the 2nd one and some addition.
They might be afraid to lose fiat based customers.
In slots especially where more gamblers are using it so that they will feel like it is Vegas once again.

IMO, if they offer cryptocurrencies only it might drive them away with the thought of too much steps before they could play.
Deposit - Play.
Instead of Deposit - Exchange - Deposit - Play

indeed in reality there must be gambling that can accept transactions using cents because it will have a good impact on gamblers who want to try to use their assets with very small amounts will not make them lose when they lose, at least by using betting in the form of cents can used for observation to various games.

I'd have to guess the users playing at fiat casinos are already used to gambling higher amounts and are less likely to play with amounts even under one penny so adding this feature wouldn't do much of a difference besides lowering the casino's revenues. This is a trend only seen in crypto AFAIK - after all, even fiat casinos could allow you to play with fractions of cents if they wanted to. Fiat faucets could also be a thing, but would be something not many are accomodated with.

I agree fiat casino operate under different rules than crypto casino. For them offering crytpo currencies is just another payment option like USD, EUR. Especially for new gamblers micro transactions is awesome to get to know various games and casinos before gambling with the big bucks.

For me just the anonymity aspect brings me back to crypto casinos and I don't want to go back to fiat at all.

Sadly point 2 applies also to many pure crypto casinos. There are only a few of them don't ask KYC at all.

Casinos use KYC to cover up their lack of technical knowledge and general faults.

If someone goes to freebitco.in (it is only an example, the truth is i don't know any other casino that is completely KYC free) and win 1000btc today by hacking the website or by just playing honest and withdraw it immediately, they won't ask you your KYC documents. You'll be able to get your money right away.

But if they catch you while hacking, they'll lock up your account, seize your coins and give a kick in the butt and post the proofs in the forum.

That's how you should deal with scammers.

So what have we learnt so far?

1. Fiat+Crypto casinos do not really care about micro payments, they just want the same profits from the games on offer ...than what they got from being a pure Fiat online casino.

2. Fiat+Crypto casinos strip all pseudo anonymity from Crypto gamblers, because they require full KYC requirements. (This in most cases are not a choice, but a regulatory requirement linked to their Fiat links to government.

3. Crypto casinos can make full use of micro payments because they develop their own games.

4. Crypto casinos can protect anonymity, because they can stay anonymous too. (unlicensed & unregulated)

Of course true crypto gambling sites are much better than fiat gambling sites that accept crypto deposits. True crypto gambling sites are usually
providing more various crypto options and no minimum bet. It is different from fiat gambling sites that accept crypto deposits but when they will
playing automatic converting to fiat and that's really annoying. They only provide a variety of deposit options so hope it is attracted  new user
interest.

In Primia Facie, I consider a gambling site true crypto site if it doesn't have an option to fill out user info. Get a username and mostly an email and start playing. They won't be asking you to verify your identity except when they absolutely need to. That would be perfectly fine to normal crypto users who are there for fun. On the other hand, a fiat gambling turned to crypto would ask your KYC the moment you initiate your first withdrawal.

And what's worse is that they can't be as good as the crypto casinos that allows to bet even under the minimum amount of these traditional casinos that just recently adopted cryptocurrencies to their payment method.

Someone has noticed this too. They have been noticing the side of crypto market that has a huge amount of shares to the entire gambling industry. They have no choice but to get up with it and stay up to date.

It's already happening we have seen migration, people playing in the Crypto gambling sites did not learn to gamble because they join a gambling site they migrated from Fiat to Crypto, there are so many things that attract them to Cryptocurrency gambling, it's like hitting many birds with one stone, like anonymous, maximize their bet because of the nature of Cryptocurrency, and the fact that Crypto gambling is growing.

I think that the minimum bet in real good slot machines should be like 0.10 Eur or Usd.Many of the slot providers like Microgaming,Booming Games,Kalamba,Play N Go and many others offers this kind of minimum bet as this is the minimum bet you can really win something during your gameplay.I think with 0.01 Eur bet we would be just losing time and looping around because you cannot really win something relevant in this bet.

Crypto gambling sites still offer a minimum bet higher than 0.01 cent for real slot machines but I think the advantage of micro payments can be seen in roulette,dice and other game like those.

Maybe yes, if players are set into very low amount as minimum bets then those fiat sites may not reach their targeted profits.Possibly not every gambler is going to make bets in few cents so they just keep as it is. Fiat gambling site offering crypto bets itself shows that they are afraid of crypto gambling is taking over the fiat industry that is why they started to prepare themselves early.

We need a gambling owner to explain that because we all are the players, and we don't know the truth. We can guess the answer, but that will make a difference in each other for the answers.

But I never think like that because I only think that when I place the bets, I know there is a minimum amount to bet, but I don't convert or calculate it in the fiat values.

Regarding the royalties, I am sure they should pay some amount to the developer, which is a form to support the developer in keeping their project still running. I think every crypto gambling site will have different minimum bets for crypto gamblers.

We can't really blame those fiat/crypto casinos whom limits the amount of minimum bet that high and still needs KYC, as some of them were just want assurance that their customers are real and they afford to win big and lose big as well. Hence, we must not compare how they run their system, it's your choice whether you use it or not. The only difference that makes a gambling site, whether it is crypto-based or fiat-based, is if it satisfy its customers and its user-experience is superb.

Also, crypto gambling would always have many clients compared to fiat gambling as crypto is more convenient in transaction and depositing, yet fiat casinos often have physical licenses in their local place where they operate while most crypto-based that are decentralized often doesn't have. Which, answers why fiat-based often gets huge income by limiting minimum bets with their system.

There are crypto gambling sites which are also setting up limits. Some sports betting sites for example do have minimum amount of bets allowed.

Perhaps some fiat/crypto gambling sites do not allow very low bets because they consider these bets too insignificant that they do not make good money out of it. Perhaps they find bets as low as 1 to 10 sats as worthless bets which should not be accepted. Even 100 sats is just less than 0.01 cents so why bother accepting it? Just my thoughts.

True! Hypetrain of crypto, but in the end, it's just fiat in the guise of crypto. They can't really change their entire setup to make it as a crypto gambling site so they instead opted to make it seem like they are one. If new players were to actually enter on crypto gambling, they may just actually attract some with such ideas, after all, they have no particular idea on how crypto sites work and just the work "crypto" is enough to make a gambling site a crypto gambling one in the eyes of people who don't usually gamble on said sites. I guess the only advantage they could get here is that transactions would be faster if they used crypto, but I'd still opt for pure Crypto gamblings sites since they offer the same speed and I know that I'm playing with crypto, not fiat.

It's looks like they just want to use cryptocurrency for more people to use their website since more mode of payments accepts = there is also more players will probably play there.
And other thing is just like what @cabalism13 said that, there is also a chance that the Bitcoin you bet will only converted once you will bet it, not after you deposit Bitcoin or other cryptocurrency in the gambling website.
Still annoying once people will get surprised about this.

Im not sure, but I guess with a website like this, your deposited Btc/crypto wasn't directly converted but just showing the amount of crypto equivalent to fiat (base on my experience on other gambling website)
But, If that was really the case, then that's obviously a deceitful act from a non-crypto gambling website.
Nevertheless, most of these websites only adapts cryptocurrency, because they have witnessed a huge volume of stakes in crypto gambling websites. They will do anything they can to attract more markets to their website.

thats why you need to check their faq first, if theres any. or read the reviews first. because they will mention about this conversion to fiat thing. but i guess most of us here don't want this kind of tx because we are  used to deal with crypto.   guess what? we are in btctalk...

I remember this when I play at FJ, where BTCs are automatically converted to USD as bets. Just like what the others have said it is within the Game Provider, and for the likes of what I have played before, here it is:

https://www.yggdrasilgaming.com/

So 'matically it wasn't just about being on the latest trend, and yeah it's really annoying.

when there is a gambling place like that I think it will make the players feel uncomfortable but maybe indeed the gambling place only provides gambling options only using fiat money so that anyone who makes a deposit will immediately be exchanged with fiat at the current exchange rate, if not like the system like that then you should be able to avoid gambling places like that.

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.

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.

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?

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.

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  ) 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.   (anonymous gambling)

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.

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?