Looks like you've mentioned almost everything about the uses of bitcoin. But for gambling at online casinos, I think casinos are starting to implement KYC for their users, especially for those who use a lot of money to gamble. It seems that it will no longer be easy for us to use bitcoin without verifying our identity so we cannot fully use the anonymity of using bitcoin.
But we are still lucky to be able to use bitcoin or altcoins to play gambling at crypto casinos and don't need to do KYC verification because there are still casinos that don't apply the rules too strictly. This provides an advantage for little gamblers who want to enjoy the gambling atmosphere at online casinos without doing KYC.
Topic: There are many advantages to the relationship between gambling and Bitcoin. - page 6. (Read 720 times)
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
April 24, 2023, 10:27:08 AM
April 24, 2023, 10:18:33 AM
The fact that you can use it, or start using it, without having much of an issue (other than knowing how) is great as well. Crypto was great for me in general since I had a few problems with credit/debit cards in the past, Bitcoin basically let me spend money on stuff I needed without much hassle, and it was pretty quick to learn (though it may vary from person to person).There isn't really much in terms of advantages really, mostly just what makes Bitcoin, Bitcoin tbf, but nonetheless those advantages are more than enough reason for some to prefer Bitcoin in some scenarios, myself included.
While using credit and debit cards, one always fear if the gambling casino may misuse our cards data and therefore many gamblers would not prefer to use them on online sites including the untrusted gambling sites.
With the use of bitcoin or crypto currencies, one can spend on gambling site without any fear and also our identity remain hidden too. There are too many advantage of using bitcoin in online casino that if one time person knows about it, he or she may never use fiat on crypto casino (provided they accept crypto payments).
April 24, 2023, 09:45:30 AM
Can you tell us another advantage of opening an account in a Bitcoin Sportsbook?
You don't need to queue at the Bank and at the ATM to make a deposit in an online crypto casino, fiat casino at least you have to have a certain deposit amount to deposit and want to bet, Bitcoin casinos don't need that, with only $ 5-10 you can rotate your bets, whether it's sports betting, slots and so on.Bottom line: Bitcoin casinos as a whole make it easy for users to do anything in bitcoin casinos online, thus crypto gambling is one of the best types of gambling industry today.
April 24, 2023, 08:34:09 AM
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.
Can you tell us another advantage of opening an account in a Bitcoin Sportsbook?
The fact that you can use it, or start using it, without having much of an issue (other than knowing how) is great as well. Crypto was great for me in general since I had a few problems with credit/debit cards in the past, Bitcoin basically let me spend money on stuff I needed without much hassle, and it was pretty quick to learn (though it may vary from person to person).There isn't really much in terms of advantages really, mostly just what makes Bitcoin, Bitcoin tbf, but nonetheless those advantages are more than enough reason for some to prefer Bitcoin in some scenarios, myself included. 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.
Can you tell us another advantage of opening an account in a Bitcoin Sportsbook?
April 24, 2023, 08:33:45 AM
[....]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.
I've only read of one when a user recently opened a complaint about a casino. Funny how he was enticed to open an account because of the casino's offer that there will be no KYC for crypto users but his account was restricted for some reason and he's being asked to verify his identity. That case sounds like the opposite of what you've been saying about exclusive promotions and privacy or anonymity.in that case, to avoid similar issue in terms of kyc requirements, don't just listen to others about nonkyc protocol. you should always head to the terms section regarding privacy/registration on the site. and that will be your basis whether a certain site is requiring kyc or not.
but here in the forum, there are still casinos who are not requiring kyc from their customers. just read their terms before anything else.
April 24, 2023, 07:48:32 AM
[....]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.
I've only read of one when a user recently opened a complaint about a casino. Funny how he was enticed to open an account because of the casino's offer that there will be no KYC for crypto users but his account was restricted for some reason and he's being asked to verify his identity. That case sounds like the opposite of what you've been saying about exclusive promotions and privacy or anonymity.
April 24, 2023, 07:41:52 AM
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.
April 24, 2023, 07:34:40 AM
I do not know if there are actually any of the advantages that you are talking about. Most of the casinos ask for KYC details...so that destroys all pseudo anonymity that Crypto currencies supported.
People could care less about decentralization....and most casinos are not decentralized, so I doubt if that has any advantages for the gamblers. The casinos that are decentralized are scarce and a lot of them are illegal, so I do not use them.
This the truth and nothing but it. I recently had a very terrible experience with supplying my personal details at an online casino which previously didn't require that KYC. The documents they required was a my passport and proof of residence. The so-called Bitcoin anonymity totally destroyed. For me the biggest advantage of Bitcoin in online casino or gambling is the ease of transactions. The convenience. There's assurance that I can get withdraw my winnings to my account even during the weekends. People could care less about decentralization....and most casinos are not decentralized, so I doubt if that has any advantages for the gamblers. The casinos that are decentralized are scarce and a lot of them are illegal, so I do not use them.
Another advantage for the player is that it helps to increase the knowledge and interest of regular people about Bitcoin. That is, if you were not so knowledgeable about Bitcoin but loved gambling, you'd want to know more about it. It is a plus for the gambler.
April 24, 2023, 07:08:00 AM
Don't forget that gambling is the first used case of bitcoin if I'm not mistaken, yes Laszlo Hanyecz maybe the first one who introduces BTC as a mode of payment. But when the advent of bitcoin and it's used in gambling, it become a worldwide used and even challenge traditional online fiat based that time. Now we have a lot of casino's competing for that niche market, billions or dollars flowing every year. So yeah, it's proven already that there is a big relationship between gambling and bitcoin and any other crypto as well. It used to be bitcoin in the beginning, but when there are options for other crypto because of their fast deposit and withdrawals, it was also adopted by many casinos now.
April 24, 2023, 07:04:03 AM
Can you tell us another advantage of opening an account in a Bitcoin Sportsbook?
Since you already mentioned almost everything about the advantages of using on gambling platform, my own reason is support for Cryptocurrency and Bitcoin, its total support of players using Bitcoin, once the majority of casinos have adopted Bitcoin it will increase demand so you reap the rewards on your Bitcoin portfolio.
The gambling industry is one of the early supporters of Bitcoin that is those early Bitcoin holders make a huge profit because of the spike in its price, so the more you play on Bitcoin-based casinos you are also supporting your portfolio.
April 24, 2023, 06:55:15 AM
The advantage is that those of us who really love Bitcoin can use it not only as an investment but also other activities such as gambling as long as it is done with good control, while for privacy at this time it is almost the same as fiat sportsbook where many already require KYC especially if we are players using big money then KYC is impossible to avoid, so this is no longer different from Fiat gambling sites.
Transaction fees are sometimes unprofitable because gambling sites apply quite high withdrawal fees, especially when the network is busy, it will make it take us as players a little longer to receive money from withdrawals than normal.
Transaction fees are sometimes unprofitable because gambling sites apply quite high withdrawal fees, especially when the network is busy, it will make it take us as players a little longer to receive money from withdrawals than normal.
April 24, 2023, 06:51:06 AM
Sending Bitcoin from a wallet to another is what decentralized really is, not sending Bitcoin from your wallet to a online gambling platform that's licensed by the Law, the decentralized feature is automatically deactivated doing this. Once you sent your Bitcoin to a gambling platform it's no more privacy and security like you said OP, do you even know why a gambling casino must pass regulation?
They are under the watch of centralized power, they don't want anyone using gambling platform for any illegal activities, its the same reason some gambling platforms are asking for KYC verification,it'ss almost all available online casinos asking for KYC verification.
They are under the watch of centralized power, they don't want anyone using gambling platform for any illegal activities, its the same reason some gambling platforms are asking for KYC verification,it'ss almost all available online casinos asking for KYC verification.
April 24, 2023, 06:48:03 AM
The cheap transaction fees are what I like most about using Bitcoin in sports bookies. Stake.com only takes 7k satoshis for every withdrawal which isn't a big deal at all.
The other thing that I liked when it comes to using Bitcoin as means of gambling is the low amount you could input on every bet you will make. I think 17 satoshis is the lowest when it comes to sports gambling and 1-2 satoshis at casino games.
For those who love long parlays like x1000, they could input a low bet to avoid getting rekt faster or they could try different types of bets and take the chances for a jackpot for just a small amount at risk.
And of course, there is the volatility of its market price which could sometimes be in your favor.
The other thing that I liked when it comes to using Bitcoin as means of gambling is the low amount you could input on every bet you will make. I think 17 satoshis is the lowest when it comes to sports gambling and 1-2 satoshis at casino games.
For those who love long parlays like x1000, they could input a low bet to avoid getting rekt faster or they could try different types of bets and take the chances for a jackpot for just a small amount at risk.
And of course, there is the volatility of its market price which could sometimes be in your favor.
April 24, 2023, 06:01:07 AM
Furthermore, Bitcoin transactions are often cheaper and faster than traditional banking methods, which can save gamblers money and time.
Since the introduction of bitcoin to the financial economy and adoption in many areas, gambling organizations have also been into using this digital currency for their gambling supported cryptocurrencies while some make an additional of their own token as well, but bitcoin is the only most common crypto applicable for use in almost all the casinos for gambling because of low transaction fees and fast confirmation for each transaction, gamblers also see this as more cheaper and easier than fiat that have been used to.
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.
Bonus is another way to attract gamblers and keep them to a particular casino, many of the casinos offers bonuses in different ways to ensure they make their gamblers have opportunity to maintain gambling with them, all these comes in form of bitcoin or crypto they supported.
April 24, 2023, 05:48:03 AM
Bitcoin and anonymity is very impossible when using in a licensed casino because it will be subject to regulation as well as KYC, so I think as long as using bitcoin it is quite comfortable to transact because transaction fees are cheap to pay or buy something using bitcoin, but if bitcoin has entered the exchange they cannot be called anonymity, let alone a casino, that is the advantage of using bitcoin if it is transacted among users, all processes are easy and anonymous.
I, as a bitcoin user, of course, am very happy to use bitcoin in any activity on the internet as well or in gambling at casinos, for example, betting football bets using bitcoin payments as well as other cryptos, well, the advantage of gambling using bitcoin is that it is easier, different from fiat currency.
I, as a bitcoin user, of course, am very happy to use bitcoin in any activity on the internet as well or in gambling at casinos, for example, betting football bets using bitcoin payments as well as other cryptos, well, the advantage of gambling using bitcoin is that it is easier, different from fiat currency.
April 24, 2023, 04:22:55 AM
There are many advantages to the relationship between gambling and Bitcoin...
Well, I agree there are advantages when choosing Bitcoin from gambling, but the crypto-gambling scene is booming in the last few years, so now we have many good coins for gambling, on-chain casinos, and I will dare to say that some of them are even better than Bitcoin. Lower transaction fees, faster transactions... who chose Monero for gambling will have more privacy.
I guess we need to be free to explore crypto and try different stuff, and there are a lot of new and interesting projects around... who knows, maybe you will find something that you like!
April 24, 2023, 04:17:33 AM
although there are many advantages between gambling and bitcoin but most of all it is about being decentralized which makes gamblers anonymous. but unfortunately now it's decentralized, it's much different from before when we used bitcoin to maintain our privacy but the casino asked for personal data or KYC as a requirement to comply with the license in the casino.
so it seems like decentralization doesn't exist anymore whereas the casino has our data and knows who we are and there is no privacy anymore.
but anyway for me the second advantage is when I gamble using bitcoin, no one knows if I'm gambling especially the city.
so it seems like decentralization doesn't exist anymore whereas the casino has our data and knows who we are and there is no privacy anymore.
but anyway for me the second advantage is when I gamble using bitcoin, no one knows if I'm gambling especially the city.
April 24, 2023, 03:57:57 AM
I do not know if there are actually any of the advantages that you are talking about. Most of the casinos ask for KYC details...so that destroys all pseudo anonymity that Crypto currencies supported.
People could care less about decentralization....and most casinos are not decentralized, so I doubt if that has any advantages for the gamblers. The casinos that are decentralized are scarce and a lot of them are illegal, so I do not use them.
That’s probably the problem for bitcoin as it can no longer act as a decentralized coin knowing most of the legit casinos these days have been centralized already. If you aim to play for decentralized casinos, you can go and play in grey areas where casinos are not that really bad but they are actually not accredited ones. So the chances of being scammed is quite high. Same with anonymity issue, it can still happen as long as you’ll play in KYC-free casinos. People could care less about decentralization....and most casinos are not decentralized, so I doubt if that has any advantages for the gamblers. The casinos that are decentralized are scarce and a lot of them are illegal, so I do not use them.
April 24, 2023, 03:14:44 AM
All other advantages mentioned here exist also in FIAT casinos but in there though you have to use your debit/credit card or bank account so you already throw privacy away as soon as you start gambling and depositing money there.
This applies to only casinos in your country, if you want to use casinos that are not in your country, you will need more than email and password, you will need identity documents too. But if it is a casino in your country, either phone number or email, and password are enough to withdraw money from the casino because when you deposit money, your bank account is leaked already just like you said. 
April 24, 2023, 03:09:52 AM
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.
Quote
Furthermore, Bitcoin transactions are often cheaper and faster than traditional banking methods, which can save gamblers money and time.
Yes, faster but when it comes to fees other Cryptocurrency like Tron, Doge, and BNB offers much cheaper options but Bitcoin is very popular.Quote
Can you tell us another advantage of opening an account in a Bitcoin Sportsbook?
Bitcoin is very popular now all Cryptocurrency casinos and even fiat-based casinos have it its both a mode of payment and an investment at the same time, in fact, some players are playing to grow their Bitcoin for future profit.Jump to: