The Rise of Crypto Gambling: What You Need to Know - page 7.

piebeyb

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Quote from: Kakmakr on July 20, 2023, 02:31:22 AM

The things.... most casinos implement KYC verification at some time, so your pseudo-anonymity are short lived. Just look at Freebitco.in and their latest announcement that they now require verification of their accounts. Roll Eyes

(This is one of the oldest Crypto casinos in the industry and they now bend the knee before the regulators)

Also.... most people use Crypto exchanges and these exchanges require full verification... so they destroy all pseudo-anonymity that you have with Crypto currencies. Roll Eyes

All anonymous dealing will always be synonymous with money laundering and also fraudulent users, I also see that freebitcoin has this new rule that allows them to also want to avoid users trying to cheat them that's why I support that, don't care about being anonymous from our crypto currency, after all we are all aware that KYC verification is also necessary for something that actually prevents crime as well as abuse.

Anyone can avoid and stay anonymous but back again on the safety side it will be hard to get attention when we are anonymous and having problems then finally seeking public attention too to get help for our problems it even looks funny, we are not talking about anonymous but this is all for the sake of goodness of all by doing KYC verification. even if we don't like it let it be.

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The things.... most casinos implement KYC verification at some time, so your pseudo-anonymity are short lived. Just look at Freebitco.in and their latest announcement that they now require verification of their accounts. Roll Eyes

(This is one of the oldest Crypto casinos in the industry and they now bend the knee before the regulators)

Also.... most people use Crypto exchanges and these exchanges require full verification... so they destroy all pseudo-anonymity that you have with Crypto currencies. Roll Eyes

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Quote from: ethereumhunter on July 20, 2023, 01:14:35 AM

Since the last pandemic, crypto casinos have gained so much popularity that they are better known by gamblers who usually play in physical casinos. Starting from there, people know that using crypto to gamble is safer than using fiat because they don't need to fill in various required data before starting to play gambling. At crypto casinos, they only need to register using their email and password, and start depositing the coins they want, in this case, bitcoins or altcoins, to start gambling.

But gradually, the popularity of crypto casinos caught the attention of regulators in crypto casinos, so they asked the casinos to perform KYC on the gamblers. Regulators want to know who is gambling in their country, especially those who use big money. And now, crypto casinos are trying to continue that by asking their users to do KYC. This is a new problem for crypto users who often gamble because they can no longer be free to play gambling. And even though the casino already allows users not to register but only to connect their wallet to the casino site, later on, casino users can be asked to do KYC.

I think crypto based casinos are already popular even before the pandemic. It's that it was highlighted during that time as we don't have our land based casinos as obviously it is closed. They try to open their own version of online casinos though, but crypto based has taken the reign that time and it grows over the next 2 years as there are casinos popping up and then the competition.

So for the whole KYC and other mandated by regulators, its has been there since 2017, after the bull run. It's just that the pandemic really put the spotlight on us and so we have to comply.

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Since the last pandemic, crypto casinos have gained so much popularity that they are better known by gamblers who usually play in physical casinos. Starting from there, people know that using crypto to gamble is safer than using fiat because they don't need to fill in various required data before starting to play gambling. At crypto casinos, they only need to register using their email and password, and start depositing the coins they want, in this case, bitcoins or altcoins, to start gambling.

But gradually, the popularity of crypto casinos caught the attention of regulators in crypto casinos, so they asked the casinos to perform KYC on the gamblers. Regulators want to know who is gambling in their country, especially those who use big money. And now, crypto casinos are trying to continue that by asking their users to do KYC. This is a new problem for crypto users who often gamble because they can no longer be free to play gambling. And even though the casino already allows users not to register but only to connect their wallet to the casino site, later on, casino users can be asked to do KYC.

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Quote from: dothebeats on July 19, 2023, 06:59:05 PM

I'm not quite sure about our information being more secure in crypto casinos. There's tons of leaks and data breaches happening daily, and some of them include crypto casino accounts, personal information, etc.

You have any proof about this? AFAIK I haven't see there's a data breach from crypto casino in this forum, the data breach mostly come from the centralized exchange and hardware wallet. I'm not saying crypto casino has better security among other projects, but I just never heard about it.

Quote from: noormcs5 on July 19, 2023, 06:59:34 PM

I never faced any issue of network congestion. Deposits and withdrawals are never delayed on blockchain network congestion but it is more often delayed by the casino if they are processed manually.

If he's use low priority, surely his transaction will delayed or might stuck in lambo for 2 weeks. But we have a solution to use other chain where the fee is cheap and fast due to low volume.

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As regulations are becoming a matter of concern for cryptocurrency users, most sportsbooks and casino platforms require users to complete KYC verification which involves all the basic and personal details of a person including their full name, country of residence, city, address, phone number, etc. So technically, the anonymity is not an advantage of a cryptocurrency sportsbook anymore but they are just like traditional casinos now.

But, there are different options and features that make them better and different from traditional sportsbooks, just like transaction speeds and convenience of depositing and withdrawing, people used to wait for days with traditional sportsbooks for their transactions to get confirmed.

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Quote from: arwin100 on July 19, 2023, 06:39:41 PM

For ease deposit and withdrawal maybe there are some factors that user like this on crypto casino but sometimes there's issue of network congestion so I think this is also less concern with the users.

I never faced any issue of network congestion. Deposits and withdrawals are never delayed on blockchain network congestion but it is more often delayed by the casino if they are processed manually.

Quote from: arwin100 on July 19, 2023, 06:39:41 PM

So what I really think the main concern of people regarding on crypto gambling is the accessibility since they can have fun wherever they go since online casino is present everywhere and they could just go online then play when they like to do it.

The easy access has made online gambling very popular and at the same time, crypto has helped a lot in getting the ease of deposits/withdrawal in the casino. The use of credit cards is more expensive and risk is also involved as the site can keep your credit card information, but by using cryptocurrencies one can deposit in an online casino without any hassle.

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I'm not quite sure about our information being more secure in crypto casinos. There's tons of leaks and data breaches happening daily, and some of them include crypto casino accounts, personal information, etc. I guess, what crypto gambling really brought forth to the table is its ease of access and overall ease of registration and getting KYC-accepted. Apart from that, I don't see anything that crucial which separates fiat online casinos from crypto casinos, at least at this point in time.

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Quote from: Fatunad on July 19, 2023, 04:52:13 PM

Quote from: goaldigger on July 19, 2023, 04:19:05 PM

Quote from: Johnyz on July 19, 2023, 03:59:06 PM

Quote from: mindrust on July 19, 2023, 03:05:19 PM

Quote from: Yatsan on July 19, 2023, 12:30:52 PM

Crypto gambling or web 3.0

Crypto gambling is huge but it seems to me web3.0 is just a solution looking for a problem which don't exist. We already have everything on the web and we can do everything. (gambling too is possible) So I don't understand how web3.0 will bring to the table something new.

Probably same in function but different in the concept.
Crypto gambling is indeed growing though I have to disagree that it offers a faster deposit and withdrawal since some site have their own timeline for the withdrawal due to the fact of counter checking and its not a direct withdrawal from the explorer. If you want a faster transactions then read every details in ToS and know this one.

A crypto site that offers faster withdraw are prefer by many but I agree, not all site have this.
Every site have their own Terms of service and a pros and cons, you should understand it and know if it can work with you. Crypto gambling site offers more flexibility compare to a fiat casino online and I prefer to gamble more using crypto, you just have to choose the best site available in the market.

The main things on why crypto gambling is becoming more popular and more in demand because of these things;

1. Anonymity
2. Ease of deposit/withdrawal options
3. Lots of variety of games

Im not saying that Fiat casinos doesnt have these things but nothing beats out even with that instant withdrawal thing on which you cant really be able to
have on a fiat casino in most time specially if its really that withdrawn directly into your bank which it would be taking up some days.Unlike that we do have on crypto
that it would really be instant. The only cons i do see on this is on the time that the company or owner would be tending to ran their users funds
then there's no chance for it to be getting it back due to that anonymity thing which it is really that also one of the cons specially if the casino
isnt that regulated but well its a matter of personal choice in the end of the day.

Anonymity is not the main case now since casinos are now requiring Kyc to their user so I guess this is not ideal anymore for people who want to be anonymous.

For ease deposit and withdrawal maybe there are some factors that user like this on crypto casino but sometimes there's issue of network congestion so I think this is also less concern with the users.

Physical casino also has a lot of games and I think what online casino have is also present om physical casino.

So what I really think the main concern of people regarding on crypto gambling is the accessibility since they can have fun wherever they go since online casino is present everywhere and they could just go online then play when they like to do it.

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Quote from: nitrobetting on July 19, 2023, 12:02:55 PM

~

This is only crypto no? And besides gambling has always been a thing, even in the pandemic gamblers only kept going up instead of going down. While I do acknowledge that crypto gambling is something good, it's mostly because it uses crypto so really, its a discussion that should be about crypto and not gambling (since as I said, it's alway s been a thing).

Additionally, crypto sportsbooks/casinos also have issues with KYC since they basically almost do the same thing as any other traditional sportsbooks, especially in recent times. Even if crypto can be used as a method for (pseudo) anonymity, most casinos bypass that by asking for KYC itself at registration or at first withdrawal.

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Quote from: goaldigger on July 19, 2023, 04:19:05 PM

A crypto site that offers faster withdraw are prefer by many but I agree, not all site have this.
Every site have their own Terms of service and a pros and cons, you should understand it and know if it can work with you. Crypto gambling site offers more flexibility compare to a fiat casino online and I prefer to gamble more using crypto, you just have to choose the best site available in the market.

^That is exactly right, not all casinos can provide this feature.
Each gambling site has its own terms of service, along with its own set of advantages and disadvantages and the most important is to understand these terms and assess if they have in with your requirements. So before using them it is very important to read first the terms or the TOS so that you will understand it clearly from the start. Probably for me, by conducting due diligence, you can increase your chances of selecting a trustworthy platform that suits your needs.

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Quote from: goaldigger on July 19, 2023, 04:19:05 PM

Quote from: Johnyz on July 19, 2023, 03:59:06 PM

Quote from: mindrust on July 19, 2023, 03:05:19 PM

Quote from: Yatsan on July 19, 2023, 12:30:52 PM

Crypto gambling or web 3.0

Crypto gambling is huge but it seems to me web3.0 is just a solution looking for a problem which don't exist. We already have everything on the web and we can do everything. (gambling too is possible) So I don't understand how web3.0 will bring to the table something new.

Probably same in function but different in the concept.
Crypto gambling is indeed growing though I have to disagree that it offers a faster deposit and withdrawal since some site have their own timeline for the withdrawal due to the fact of counter checking and its not a direct withdrawal from the explorer. If you want a faster transactions then read every details in ToS and know this one.

A crypto site that offers faster withdraw are prefer by many but I agree, not all site have this.
Every site have their own Terms of service and a pros and cons, you should understand it and know if it can work with you. Crypto gambling site offers more flexibility compare to a fiat casino online and I prefer to gamble more using crypto, you just have to choose the best site available in the market.

The main things on why crypto gambling is becoming more popular and more in demand because of these things;

1. Anonymity
2. Ease of deposit/withdrawal options
3. Lots of variety of games

Im not saying that Fiat casinos doesnt have these things but nothing beats out even with that instant withdrawal thing on which you cant really be able to
have on a fiat casino in most time specially if its really that withdrawn directly into your bank which it would be taking up some days.Unlike that we do have on crypto
that it would really be instant. The only cons i do see on this is on the time that the company or owner would be tending to ran their users funds
then there's no chance for it to be getting it back due to that anonymity thing which it is really that also one of the cons specially if the casino
isnt that regulated but well its a matter of personal choice in the end of the day.

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Quote from: Gozie51 on July 19, 2023, 01:28:55 PM

Quote from: nitrobetting on July 19, 2023, 12:02:55 PM

Traditional sportsbooks have your address, your phone number, your email address, and more info about you. Some sportsbooks sell your information to list creators. Those list creators sell the info to tout services that call you to get you on board with their plans.

You should already know this is same characteristics you have with banks, fiat casinos and centralized crypto casinos. Fiat casinos may not request for your picture but centralized casinos among other things requested may further ask to see your face which in fact is very discouraging. So what point are you making with this? I'm sure your link could be about a casino running on KYC.

What you should ask op, is that have he or she have any evidence were such claims took place, if their is any place where such take place op should give us the link to read and know by ourselves than making a emphasis that is unrecognized, if that is so concerning the claims of op bankers and banks would have be a multi billionaire, they will be selling people or their customers data to make business and money, I think the point of op is unrecognized because their is no evidence to backup it's claims

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Quote from: Johnyz on July 19, 2023, 03:59:06 PM

Quote from: mindrust on July 19, 2023, 03:05:19 PM

Quote from: Yatsan on July 19, 2023, 12:30:52 PM

Crypto gambling or web 3.0

Crypto gambling is huge but it seems to me web3.0 is just a solution looking for a problem which don't exist. We already have everything on the web and we can do everything. (gambling too is possible) So I don't understand how web3.0 will bring to the table something new.

Probably same in function but different in the concept.
Crypto gambling is indeed growing though I have to disagree that it offers a faster deposit and withdrawal since some site have their own timeline for the withdrawal due to the fact of counter checking and its not a direct withdrawal from the explorer. If you want a faster transactions then read every details in ToS and know this one.

A crypto site that offers faster withdraw are prefer by many but I agree, not all site have this.
Every site have their own Terms of service and a pros and cons, you should understand it and know if it can work with you. Crypto gambling site offers more flexibility compare to a fiat casino online and I prefer to gamble more using crypto, you just have to choose the best site available in the market.

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Quote from: mindrust on July 19, 2023, 03:05:19 PM

Quote from: Yatsan on July 19, 2023, 12:30:52 PM

Crypto gambling or web 3.0

Crypto gambling is huge but it seems to me web3.0 is just a solution looking for a problem which don't exist. We already have everything on the web and we can do everything. (gambling too is possible) So I don't understand how web3.0 will bring to the table something new.

Probably same in function but different in the concept.
Crypto gambling is indeed growing though I have to disagree that it offers a faster deposit and withdrawal since some site have their own timeline for the withdrawal due to the fact of counter checking and its not a direct withdrawal from the explorer. If you want a faster transactions then read every details in ToS and know this one.

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Quote from: danadc on July 19, 2023, 03:04:28 PM

Quote from: blockman on July 19, 2023, 02:49:38 PM

It's more of a discussion about crypto entirely, not crypto gambling. While it is true that there are still people doubting crypto and doesn't consider it a real thing. And the impact added was greater when we came into a pandemic because everyone has got nothing to do especially during the days of lockdowns. People tend to find something entertaining and of value and while the others have treated gambling could be their temporary way of surviving through winning despite knowing the consequences that it's going to give.

I believe that the subject is so open that it can be easily diverted, because everything reverberates towards what we know as fiat money, and obviously when we don't get to see , the things that can be done with cryptocurrencies are many and can be put on the table as many times as you want, if a person who has never handled crypto in their life and Knows it , plays in online casinos, it will seem like the holy grail , and that is what makes the world of betting interesting. s sports and gmabling , that is why it is so important to talk About crypto and the relationship that exists with casinos, it is always important to have everything clear when Playing and risking our money , whether in crypto or Fiat.

And people that are aware of this existence do aware of the risks that both of it has. Other people that are not yet in these spaces think that's how what the entire crypto is, it's all about a gamble and that's why many don't want to invest. While they don't want to take a risk from doing so, whenever the profit comes out from the people who tried, that's the catch that they don't want to miss because all they want is to have the same but do not want to take a risk. While the crypto gambling is expanding and keeps on growing, it's already a big and recognizable industry that's being included in the entirety of the whole gambling industry.

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Quote from: Yatsan on July 19, 2023, 12:30:52 PM

Crypto gambling or web 3.0

Crypto gambling is huge but it seems to me web3.0 is just a solution looking for a problem which don't exist. We already have everything on the web and we can do everything. (gambling too is possible) So I don't understand how web3.0 will bring to the table something new.

But don't look at me, I didn't understand NFT's too. (tbh, I still don't see any point in them) To me, Web3.0 is just another buzzword which will help the devs to sell more shitcoins but we will see. Maybe this time it will be different.

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Quote from: blockman on July 19, 2023, 02:49:38 PM

It's more of a discussion about crypto entirely, not crypto gambling. While it is true that there are still people doubting crypto and doesn't consider it a real thing. And the impact added was greater when we came into a pandemic because everyone has got nothing to do especially during the days of lockdowns. People tend to find something entertaining and of value and while the others have treated gambling could be their temporary way of surviving through winning despite knowing the consequences that it's going to give.

I believe that the subject is so open that it can be easily diverted, because everything reverberates towards what we know as fiat money, and obviously when we don't get to see , the things that can be done with cryptocurrencies are many and can be put on the table as many times as you want, if a person who has never handled crypto in their life and Knows it , plays in online casinos, it will seem like the holy grail , and that is what makes the world of betting interesting. s sports and gmabling , that is why it is so important to talk About crypto and the relationship that exists with casinos, it is always important to have everything clear when Playing and risking our money , whether in crypto or Fiat.

blockman

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It's more of a discussion about crypto entirely, not crypto gambling. While it is true that there are still people doubting crypto and doesn't consider it a real thing. And the impact added was greater when we came into a pandemic because everyone has got nothing to do especially during the days of lockdowns. People tend to find something entertaining and of value and while the others have treated gambling could be their temporary way of surviving through winning despite knowing the consequences that it's going to give.

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Quote from: nitrobetting on July 19, 2023, 12:02:55 PM

What You Need to Know About Crypto Gambling

Asides the other points you have made about the things needed to be known, I know that it can become very addictive and a danger to someone who has made plans to keep the bitcoins they have until the value increases. Any newbie to crypto gambling has to be aware of this danger especially if they are already the type that lack self-control with regards to the regular gambling. If you know that it will affect your ability to keep your bitcoins, then of course it is not compulsory to begin gambling with crypto, you can continue with the normal money that you use.

Topic: The Rise of Crypto Gambling: What You Need to Know - page 7. (Read 1293 times)