There are many advantages to the relationship between gambling and Bitcoin. - page 5.

maydna

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Quote from: SirLancelot on April 25, 2023, 03:00:21 PM

Having no geographic restrictions is definitely one of the best features of cryptocurrency casinos since almost anyone from any part of the world can utilize the platforms and gamble with ease since there are also no restrictions on cryptocurrency transactions. This has given a platform to everyone to be able to play games without any restrictions.

But, I think there are still some casinos that don't allow some gamblers from some regions to play on their platform, this probably is because they require KYC for withdrawals and they are not able to verify some users based on their region.

Banning some casinos against players from certain countries is possible and also happens for fiat casinos. They don't allow that player, maybe because they can't say clearly in their rules. And players from these countries should be able to understand and not try to play because it will look pointless because casinos can easily block their accounts.

Another advantage of opening an account at a bitcoin sportsbook is that players can use the various coins available in the crypto by buying them in many places. They do not have to use fiat, although that option will remain with their account. Using bitcoin and altcoins for gambling gives gamblers the freedom to choose their coins and doesn't need to do KYC to play at certain casinos.

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Quote from: maydna on April 25, 2023, 10:09:43 AM

Quote from: Pierre 2 on April 25, 2023, 01:27:00 AM

I feel like biggest advantages of using Bitcoin in online gambling platforms is to avoid some countries' regulations. It can be very hard to deposit local currency to bank account of gambling platforms. But its so much quicker and easier to do same with Bitcoin. Most countries don't follow Bitcoin transactions in such situations because its not exactly something illegal. Its legally grey area. It gives chance to many people around the world to gamble in 5 minutes.

Using bitcoins is an advantage for crypto gamblers as they do not need to transfer their bank accounts to online casinos and also it is safer from government tracking to banks. Apart from that, maybe it will also help reduce transaction costs that must be incurred by gamblers every time they deposit their money to play gambling. And even though bitcoin may not be illegal in that country, gamblers can still use it to play gambling because as long as the crypto casino doesn't prohibit users from that country from gambling in its casino, they can still gamble using bitcoin.

Having no geographic restrictions is definitely one of the best features of cryptocurrency casinos since almost anyone from any part of the world can utilize the platforms and gamble with ease since there are also no restrictions on cryptocurrency transactions. This has given a platform to everyone to be able to play games without any restrictions.

But, I think there are still some casinos that don't allow some gamblers from some regions to play on their platform, this probably is because they require KYC for withdrawals and they are not able to verify some users based on their region.

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Quote from: nitrobetting on April 23, 2023, 11:34:18 PM

There are many advantages to the relationship between gambling and Bitcoin. Firstly, Bitcoin provides a secure and decentralized way to gamble online, which is attractive to many gamblers who value their privacy and security. Transactions are processed quickly and can be completed without third-party intermediaries, making it a popular choice for online gambling sites.

Another advantage of using Bitcoin for gambling is that it allows for more anonymity than traditional payment methods. This can be especially important for gamblers who wish to keep their gambling activities private.

Furthermore, Bitcoin transactions are often cheaper and faster than traditional banking methods, which can save gamblers money and time.

Many online casinos and sports betting sites now offer exclusive bonuses and promotions for Bitcoin users, which can provide gamblers with extra incentives to use Bitcoin for their online gambling activities.

All these advantages can be linked for all cryptocurrencies in general, apart from the cheap transaction costs since some cryptocurrencies aren't really cheap when it comes to making transactions. Other than that, I think all the cryptocurrency casinos provide these advantages over the traditional online gambling platforms that existed before or maybe there are some still around.

Regarding decentralized gambling and privacy, we can barely find a casino that is decentralized, doesn't ask for KYC, and allows you to gamble with Bitcoins with full access to all the features. I think we are yet to witness this and with the regulations reaching everywhere, I don't think that will ever be a thing.

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Quote from: dimonstration on April 24, 2023, 07:41:52 AM

Quote from: nitrobetting on April 23, 2023, 11:34:18 PM

Can you tell us another advantage of opening an account in a Bitcoin Sportsbook?

It’s useless the decentralized feature of the coin you are using on gambling if you are depositing it on centralized casino because they got your IP and personal information once you undergo KYC so I don’t see at an advantage.

One advantage on using Bitcoin Sportsbook is you can enjoy the fast deposit and withdrawal and also your bankroll keeps growing once Bitcoin price pump. It’s a win win situation if you won your bet and the price of Bitcoin pump at the same time which doesn’t happened if you are using useless fiat.

On the same time, there are also some chances that the opposite thing will happen because the value of the crypto you're using will depreciate at times instead of pumping. So, aside from those advantages mentioned, there are as well disadvantage. But overall, most bettors doesn't really care if their funds will slightly grow or slightly go down, it's the security and fees they care about, mostly.

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Quote from: Pierre 2 on April 25, 2023, 01:27:00 AM

I feel like biggest advantages of using Bitcoin in online gambling platforms is to avoid some countries' regulations. It can be very hard to deposit local currency to bank account of gambling platforms. But its so much quicker and easier to do same with Bitcoin. Most countries don't follow Bitcoin transactions in such situations because its not exactly something illegal. Its legally grey area. It gives chance to many people around the world to gamble in 5 minutes.

Using bitcoins is an advantage for crypto gamblers as they do not need to transfer their bank accounts to online casinos and also it is safer from government tracking to banks. Apart from that, maybe it will also help reduce transaction costs that must be incurred by gamblers every time they deposit their money to play gambling. And even though bitcoin may not be illegal in that country, gamblers can still use it to play gambling because as long as the crypto casino doesn't prohibit users from that country from gambling in its casino, they can still gamble using bitcoin.

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Quote from: Pierre 2 on April 25, 2023, 01:27:00 AM

I feel like biggest advantages of using Bitcoin in online gambling platforms is to avoid some countries' regulations. It can be very hard to deposit local currency to bank account of gambling platforms. But its so much quicker and easier to do same with Bitcoin. Most countries don't follow Bitcoin transactions in such situations because its not exactly something illegal. Its legally grey area. It gives chance to many people around the world to gamble in 5 minutes.

While indeed that we can at least lessen if not skipped regulations for me personally what I love in crypto gambling is the security in terms of KYC(because there are still site that does not ask for this verification)
and also the advantage of lessen my time to spend in gambling when there are few remaining time to gamble.
for person like me that only has limit?
playing online would be more suitable than going in casino houses that will push me to play more because of the ambiance and free beers lol.

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I feel like biggest advantages of using Bitcoin in online gambling platforms is to avoid some countries' regulations. It can be very hard to deposit local currency to bank account of gambling platforms. But its so much quicker and easier to do same with Bitcoin. Most countries don't follow Bitcoin transactions in such situations because its not exactly something illegal. Its legally grey area. It gives chance to many people around the world to gamble in 5 minutes.

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Best crypto currencies for gambling One of the most popular cryptocurrencies in the world is bitcoin, and it is the most common cryptocurrency found in online casinos. Bitcoin gambling comes with many advantages, which is why many people choose crypto gambling over the traditional casino model. Apart from being more secure and faster transactions, this new gambling trend has higher bitcoin bonuses compared to bonuses found in fiat casinos most gamblers prefer to save gambling in bitcoin.

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Quote from: nitrobetting on April 23, 2023, 11:34:18 PM

Can you tell us another advantage of opening an account in a Bitcoin Sportsbook?

You pretty much said it all, those are the reasons why online gambling casinos were the first set of platforms to start accepting bitcoin as a payment method for gambling.

Bitcoin, as well as cryptocurrencies in general, have made alot of things easier for humanity, and one of the areas crypto have touch greatly is in the area of gambling on online casinos, with the easier and faster means of depositing and withdrawing money from casinos through crypto, online casinos have gained popularity, and not just that, but also alot of new gamblers as well.

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Quote from: nitrobetting on April 23, 2023, 11:34:18 PM

There are many advantages to the relationship between gambling and Bitcoin. Firstly, Bitcoin provides a secure and decentralized way to gamble online, which is attractive to many gamblers who value their privacy and security. Transactions are processed quickly and can be completed without third-party intermediaries, making it a popular choice for online gambling sites.

Another advantage of using Bitcoin for gambling is that it allows for more anonymity than traditional payment methods. This can be especially important for gamblers who wish to keep their gambling activities private.

That is not entirely true. If gambling platforms require your documents or ask you to undergo KYC, it's difficult to maintain privacy. Even if you use Bitcoin to gamble, your personal information may still be requested and stored on their platforms, leaving you with little to protect. However, if you gamble on a platform that doesn't require KYC and is trustworthy, you may be able to maintain some privacy by using BTC.

Quote

Furthermore, Bitcoin transactions are often cheaper and faster than traditional banking methods, which can save gamblers money and time.

Many online casinos and sports betting sites now offer exclusive bonuses and promotions for Bitcoin users, which can provide gamblers with extra incentives to use Bitcoin for their online gambling activities.

Can you tell us another advantage of opening an account in a Bitcoin Sportsbook?

Bitcoin transactions are cheaper when the network is not busy but when Bitcoin Mempool becomes congested with many transactions waiting in line for confirmations, you will find it difficult to make deposits on gambling platforms except if you want to sacrifice more on fees, which is enough to help you win something if you are lucky for that day. If I'm to prioritize fast transactions and cheap fees, I will prefer Tron for deposits on any gambling platform.

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Bitcoin is the top choice by many though some still prefer to use altcoins for their gambling activities because they value Bitcoin and they believe Bitcoin is good for long term holding. Anyway, the whole crypto itself serves a better purpose in gambling, you’re lucky enough if you are playing on a site that offers a lot of crypto options for your deposit. Bitcoin is decentralized unfortunately crypto casinos are not and KYC can still be asked.

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Quote from: uneng on April 24, 2023, 11:03:19 AM

Bitcoin allows people from countries where gambling is forbidden to gamble relatively safe online, so they don't have to risk themselves at illegal physical casinos where the legitimacy of the house isn't assured and the threat of being caught by local authorities is constant.
The variety of games those gamblers can find virtually is also much wider. They don't have to stick to few broken slot machines and bingos only, as these are usually the few alternatives clandestine houses have to offer to their customers.

Bitcoin? Fantastic, everyone! It's basically a backdoor for people living in nations where gambling is illegal. Safe, private financial dealings? They have arrived! Don't bother trying to enter seedy casinos now. The majors!

And the selection, now that they may play without worrying about the law? The size is comparable to a sumptuous feast. Bitcoin is improving the security and fairness of online gambling. Fantasticness is guaranteed.

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Quote from: nitrobetting on April 23, 2023, 11:34:18 PM

Furthermore, Bitcoin transactions are often cheaper and faster than traditional banking methods, which can save gamblers money and time.

I'm both a regular gambler on crypto-gambling sites and fiat online sites. I'm a crypto enthusiast but I must say that it's quicker and faster to do deposits and withdrawals on fiat online sites. In only a matter of seconds, the money will be sent or received right. Although the comparison is not a big deal to me since regardless of whether it's crypto or fiat, as long as deposits and withdrawals won't take so long, I'm fine with that.

I'm not sure though what you mean by "cheaper". In most cases, fiat gambling sites don't have fees for deposits.

Regardless of crypto or fiat, how can gamblers save money on both if it means gambling after all?

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Quote from: Slow death on April 24, 2023, 12:28:03 PM

in the past it was very good to use bitcoin to play in online casinos, despite the high transaction rate that bitcoin had in the past, but it was worth it because we had anonymity, but after KYC came in then using bitcoin how to use bank cards to playing it ends up being the same thing, maybe even using bank cards can be cheaper because in the case of bitcoin for example:

1 - the person needs to go to the bank to deposit money
2 - the person needs to do KYC on an exchange
3 - the person will pay a high fee when buying bitcoin on the exchange using the bank card
4 - the person will pay a fee to send bitcoin from the exchange to the casino (in the casino you will have to do KYC)
5 - the person will pay a fee when withdrawing money from the casino to exchange
6 - the person will pay a fee when withdrawing money from the exchange to the bank

while if that person only uses a bank account, they only need to deposit money in the bank and then put it in the casino and play and when withdrawing from the casino, take it from the casino to the bank. Of course it will have KYC and some questions that the bank will ask in case it is a high amount above the amount declared at the time of KYC made by him in the bank. anyway i like bitcoin and online casinos

Perhaps that is where decentralized exchanges will have a huge demand. Gamblers would not need to go through all those steps to get Bitcoin, and still manage to deposit into a casino without needing to use a credit card, it is similar to a P2P and without KYC by a bank.

It would be even better if there was more volume in casinos with Monero, but I assume licensed casinos are asked by regulators not to give support to that coin, for obvious reasons.

Also, someone who lives in a society in which Bitcoin and stable coins are widely accepted (like here in Venezuela) would not need to transfer their earnings to an exchange and then to a bank account, they can just use those to buy what they need at the store.

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Quote from: uneng on April 24, 2023, 11:03:19 AM

Bitcoin allows people from countries where gambling is forbidden to gamble relatively safe online, so they don't have to risk themselves at illegal physical casinos where the legitimacy of the house isn't assured and the threat of being caught by local authorities is constant.
The variety of games those gamblers can find virtually is also much wider. They don't have to stick to few broken slot machines and bingos only, as these are usually the few alternatives clandestine houses have to offer to their customers.

It's true, friend, that Bitcoin and Cryptocurrency have made the crypto-based online gambling industry more numerous and growing significantly, making it easier for gamblers in countries that have prohibited gambling.
By using a crypto casino, gamblers who have a state ban on gambling don't need to be afraid and worry about violating the law when playing gambling.
As the country I live in also has legal prohibitions and laws on all gambling activities so by using a crypto casino I am more grateful and very happy because I don't have to go to a physical casino which is at risk of making me have to deal with the law later.

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in the past it was very good to use bitcoin to play in online casinos, despite the high transaction rate that bitcoin had in the past, but it was worth it because we had anonymity, but after KYC came in then using bitcoin how to use bank cards to playing it ends up being the same thing, maybe even using bank cards can be cheaper because in the case of bitcoin for example:

1 - the person needs to go to the bank to deposit money
2 - the person needs to do KYC on an exchange
3 - the person will pay a high fee when buying bitcoin on the exchange using the bank card
4 - the person will pay a fee to send bitcoin from the exchange to the casino (in the casino you will have to do KYC)
5 - the person will pay a fee when withdrawing money from the casino to exchange
6 - the person will pay a fee when withdrawing money from the exchange to the bank

while if that person only uses a bank account, they only need to deposit money in the bank and then put it in the casino and play and when withdrawing from the casino, take it from the casino to the bank. Of course it will have KYC and some questions that the bank will ask in case it is a high amount above the amount declared at the time of KYC made by him in the bank. anyway i like bitcoin and online casinos

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Quote from: Jawhead999 on April 24, 2023, 10:34:36 AM

I don't think there are many advantages to gamble using Bitcoin, Bitcoin is just a currency similar like chip when you gamble on offline casino. I think the only advantage gamble using Bitcoin on online casino is you will become more safer and has little bit privacy because you don't need to directly link your bank account.

Introvert person is tend to choose to gamble on online casino using Bitcoin, but for extrovert person tend to choose to gamble on offline casino because there's an adrenaline and you can talk with other people.

I don't think there's a much better reason why we choose bitcoin over other coins. But for me in my own opinion, I don't want to gamble using bitcoin, there's a thing in me that saying if bitcoin gets higher then my losses will get high in value as well. I would more prefer to gamble using usdt, usdc, xrp etc. It will give more peace but that is only for me. I guess there's a different reason why others want it.

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Bitcoin allows people from countries where gambling is forbidden to gamble relatively safe online, so they don't have to risk themselves at illegal physical casinos where the legitimacy of the house isn't assured and the threat of being caught by local authorities is constant.
The variety of games those gamblers can find virtually is also much wider. They don't have to stick to few broken slot machines and bingos only, as these are usually the few alternatives clandestine houses have to offer to their customers.

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Quote from: nitrobetting on April 23, 2023, 11:34:18 PM

Can you tell us another advantage of opening an account in a Bitcoin Sportsbook?

Bitcoin gives gamblers access to varieties of casinos. With bitcoin casinos gamblers can have access to many gambling platforms that offers quality services. Online fiat casinos might not offer the type of games or services these bitcoin platforms offer. In some cases, Bitcoin casinos can be used to avoid double taxation by the government. Also in some countries, the government doesn't tax income from Bitcoin, this will give gamblers the opportunity of enjoying tax exemptions. Sometimes bank transactions are poor which leads to failure or delay in funds transfer or receive. Bitcoin transactions are more stable and fast. So bitcoin casinos will help to promote speedy and reliable financial transactions.

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I don't think there are many advantages to gamble using Bitcoin, Bitcoin is just a currency similar like chip when you gamble on offline casino. I think the only advantage gamble using Bitcoin on online casino is you will become more safer and has little bit privacy because you don't need to directly link your bank account.

Introvert person is tend to choose to gamble on online casino using Bitcoin, but for extrovert person tend to choose to gamble on offline casino because there's an adrenaline and you can talk with other people.

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