Thought's on many major fiat-crypto payment gateways ditching casino business's? - page 2.

piebeyb

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Quote from: Haunebu on August 30, 2023, 12:51:16 AM

Just purchase the crypto that you want and send it to the casino properly whose deposit fees are usually free while their withdrawal fees are minimal.

Yes agree with you, after all it will not be useful for many users or gamblers in casinos because there is a way that I think is safer than using other fiat payments, buying on an exchange or p2p then sending it to the casino, it is much easier and safer in my opinion even It doesn't require large transaction fees and the minimum withdrawal isn't too big either.

Moreover, fiat payments like that are rarely found in other crypto casinos, mostly almost all only accept crypto payments to make it easier and their focus is on crypto alone there is no other payment process, maybe it will be followed by other crypto casinos by closing the gates for other payments on their site in addition to crypto.

wiss19

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Quote from: Hispo on August 27, 2023, 11:31:09 AM

I have always got the impression those options are set for people who are really new into the world of cryptocurrency but have gambled before, so they ended up on Stake (or any other major Crypto gambling site) because someone recommendation or because some advertisement campaign.

They enter and realize they have never used Bitcoin or altcoins, since casinos would not like those new users to go without trying that the website has to offer, it is a question of common sense for them to have something set up so newbies into crypto can buy and gamble right away, since most FIAT gamblers are likely to have a credit card, I would argue those payment processors indeed accomplish a purpose in crypto casinos that can afford to have them.

That is probably right, only new users that don't already have cryptocurrencies and have stumbled upon a cryptocurrency casino for the first time might use that option because they might not have enough experience about cryptocurrencies and how they can buy, store, and send them from a wallet to the casino platform, for such people, that option is probably the easiest way to go about buying cryptocurrencies and then gambling with what they've bought.

However, those who already use cryptocurrencies and have wallets and accounts on centralized or decentralized exchanges, they can easily just buy from there and send it to their gambling account and start gambling instead of using a bank account or a credit card to buy cryptocurrencies directly within the platform.

Haunebu

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They are all useless anyway if you ask me since their fees totally suck. You can purchase crypto from your local exchanges via bank transfer, p2p etc for better prices and lower fees in comparison.

Just purchase the crypto that you want and send it to the casino properly whose deposit fees are usually free while their withdrawal fees are minimal.

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Quote from: Crypt0Gore on August 29, 2023, 07:50:48 AM

Fiat payment on line casino is not necessary, because most people don't use them for gambling, people prefer gambling off Fiat, they use other payment options via Crypto, haven't you heard that since crypto become a thing many numbers of new gamblers are now using crypto to gamble online, this has been ongoing since the last virus outbreak (covid19).

I have used some online casinos and the only payment options I choose are all crypto, Bitcoin, Litecoin, and Dogecoin, few don't even have any other payment options than crypto, so to me it doesn't matter, if you are planning to run an online casino, crypto payment is more than OK.

Those who already use crypto will recommend using crypto for gambling because we already feel the benefits. Payment using fiat may seem worrying because the bank may track the use of the money in the bank, so the bank will ask us about it.

And yes, just having crypto payment options is more than enough because nowadays, people are getting to know crypto better. But if a casino wants to add another payment gateway, that would be better because they can give their users a choice. After all, their users are not just crypto gamblers, as there are fiat gamblers turning to crypto casinos.

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Quote from: Frank_Holo on August 24, 2023, 05:58:53 AM

I think it's a real shame that new providers won't have access to reputable fiat to crypto on-ramps,

In my opinion, the transaction mechanism or process used by most crypto casinos has improved, even though there is no need for a Crypto on-ramp mechanism, for me it's enough for an exchange to make crypto to fiat and fiat to crypto that users can make transactions with banks and other features supported by the exchange.

I'm sure every casino finds it difficult to maintain Crypto on-ramp or Fiat On-Ramp, there are a lot of concerns in my opinion about the Crypto on-ramp method, for online casinos, except: they have to be Bank partners. For me the current online casino provider is better.

Fivestar4everMVP

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Quote from: Porfirii on August 29, 2023, 07:36:41 AM

Quote from: Hispo on August 29, 2023, 05:42:48 AM

Quote from: bettercrypto on August 29, 2023, 04:10:09 AM

Ever since I got here in crypto business, and when I do gamble I only use crypto not any fiat in any of the casino in this field of business.
And just like that others using cryptocurrency is more cheaper than a fiat currency. That's what I had observed through my experienced in playing gambling here in the crypto space.

And this is more attractive rather fiat actually in my own opinion only.

It is attractive to you because you are already accustomed to using crypto wallets and exchanges to move your money in and out a casino or other custodial services. Now try to imagine what a pure FIAT gambler would feel if they wanted to try a crypto casino and after signing up they realize they cannot gambler immediately, but need to also sign up in an exchange, go through KYC verification again, wait for it to be approved, then buy crypto there and learn how to withdraw from there to the casino.

To you, it sounds obvious and it would be something you could do within seconds, but in the eyes of the average non-crypto user/ gambler, it may be a hassle they are not willing to go through to try a new casino. Hence the importance of payment gateways.

You nailed it Hispo. We are talking from the perspective of crypto "natives" who first addopted Bitcoin (and other cryptos) and then knew about crypto casinos, which we are already used to. But, from the perspective of a newbie, finding it hard to deposit or exchange fiat for crypto is a clear barrier to entry, even if we might think that it is not that bad.

Well, first off , things are changing very fast, gamblers should understand this and try to get themselves acquainted with new technologies, it takes nothing from them, anyone who knows how to filled out their information on a gambling casino, locate the sign up button easily, enter the casino and even know how to deposit fiat currencies through the fiat payment gateways, this person will also find doing the same with crypto very easy, adapting and getting oneself acquainted to new technologies is not a matter of personal choice, for most of the time, it's a must, and failure to do so means you might just have to lose out on some important opportunities .

Crypt0Gore

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Fiat payment on line casino is not necessary, because most people don't use them for gambling, people prefer gambling off Fiat, they use other payment options via Crypto, haven't you heard that since crypto become a thing many numbers of new gamblers are now using crypto to gamble online, this has been ongoing since the last virus outbreak (covid19).

I have used some online casinos and the only payment options I choose are all crypto, Bitcoin, Litecoin, and Dogecoin, few don't even have any other payment options than crypto, so to me it doesn't matter, if you are planning to run an online casino, crypto payment is more than OK.

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Quote from: Hispo on August 29, 2023, 05:42:48 AM

Quote from: bettercrypto on August 29, 2023, 04:10:09 AM

Ever since I got here in crypto business, and when I do gamble I only use crypto not any fiat in any of the casino in this field of business.
And just like that others using cryptocurrency is more cheaper than a fiat currency. That's what I had observed through my experienced in playing gambling here in the crypto space.

And this is more attractive rather fiat actually in my own opinion only.

It is attractive to you because you are already accustomed to using crypto wallets and exchanges to move your money in and out a casino or other custodial services. Now try to imagine what a pure FIAT gambler would feel if they wanted to try a crypto casino and after signing up they realize they cannot gambler immediately, but need to also sign up in an exchange, go through KYC verification again, wait for it to be approved, then buy crypto there and learn how to withdraw from there to the casino.

To you, it sounds obvious and it would be something you could do within seconds, but in the eyes of the average non-crypto user/ gambler, it may be a hassle they are not willing to go through to try a new casino. Hence the importance of payment gateways.

You nailed it Hispo. We are talking from the perspective of crypto "natives" who first addopted Bitcoin (and other cryptos) and then knew about crypto casinos, which we are already used to. But, from the perspective of a newbie, finding it hard to deposit or exchange fiat for crypto is a clear barrier to entry, even if we might think that it is not that bad.

Hispo

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Quote from: bettercrypto on August 29, 2023, 04:10:09 AM

Ever since I got here in crypto business, and when I do gamble I only use crypto not any fiat in any of the casino in this field of business.
And just like that others using cryptocurrency is more cheaper than a fiat currency. That's what I had observed through my experienced in playing gambling here in the crypto space.

And this is more attractive rather fiat actually in my own opinion only.

It is attractive to you because you are already accustomed to using crypto wallets and exchanges to move your money in and out a casino or other custodial services. Now try to imagine what a pure FIAT gambler would feel if they wanted to try a crypto casino and after signing up they realize they cannot gambler immediately, but need to also sign up in an exchange, go through KYC verification again, wait for it to be approved, then buy crypto there and learn how to withdraw from there to the casino.

To you, it sounds obvious and it would be something you could do within seconds, but in the eyes of the average non-crypto user/ gambler, it may be a hassle they are not willing to go through to try a new casino. Hence the importance of payment gateways.

ethereumhunter

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Quote from: Bushdark on August 28, 2023, 05:55:15 PM

Quote from: bhadz on August 27, 2023, 05:29:40 PM

Quote from: TimeTeller on August 26, 2023, 06:26:11 PM

Quote from: bhadz on August 26, 2023, 04:52:36 PM

If those payment processors are being monitored by their local regulators and there's a rule that they need to follow to cease accepting new casinos into their platform that shall use their services then they have to follow and obliged to obey. As much as for the sake of business, they'll surely love to follow and allow everyone to use them. But I guess there has to be a reason like the regulators that are closely monitoring and have became strict on their protocols so, they have no choice but to stop their partnership on them.

They just don't want to ruin their business by complying with what they are told to do.
Maybe, they have directive from their management not to accept any casino business anymore for the time being.
But once the regulators are fine with it, they will surely accept more of this in the future, because it is business.
We can't tell what's their reasoning but for sure they have valid one, because there are so many online casinos now that they do need such kind of payment gateway.

Yup, they're running a business and that's why they need to take care of it and whichever policy is being imposed they have no option but to follow it. And if that takes to stop making business with the casinos then they have to obliged with that. But I am thinking of a solution like them making a company B and that's solely going to offer the same service exclusively for the casinos. That's happening and they're just going to rename it and still follow some protocols and rules whatever is made for them to protect their business so, they can't also lose clients and revenue.

I think the US and United kingdom have more strict rules to be obeged compare to other regions where there are lesser strict rules. Everyone want to keep there businesses to prevent sanctions which can attract a bigger fine. This is why some of the reliable international monetary companies are very careful on who they add to there lists and the cooperation they make will new businesses if they are not regulated to prevent a scene that can atract sanction on them. Since the old players had been in the game for long, they are bound to enjoy more of the services.

That is clear because the old players already understand the rules in advance and can adjust their business to the rules if the rules change. Old players can find the right people or companies to support their businesses to grow bigger. That may be why payment gateways are no longer accepting new casinos to their list due to regulation changes as regulators are always monitoring each casino and providing further instructions to payment gateways.

However, new casinos may not use payment gateways if the regulations do not allow adding new casinos. New casinos can immediately use crypto as payment at their casino regardless of whether there are later adjustments to new regulations from the regulator.

bettercrypto

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Ever since I got here in crypto business, and when I do gamble I only use crypto not any fiat in any of the casino in this field of business.
And just like that others using cryptocurrency is more cheaper than a fiat currency. That's what I had observed through my experienced in playing gambling here in the crypto space.

And this is more attractive rather fiat actually in my own opinion only.

vv181

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Quote from: Hispo on August 27, 2023, 11:31:09 AM

Quote from: dezoel on August 27, 2023, 11:00:31 AM

Who uses the "buy crypto" feature on the casinos anyway? Isn't it easier to just buy from an exchange and send it either straight to your gambling account or send it through your wallet which would probably cost you less than paying the fees when you make a purchase using your credit or debit card? I don't remember if I have ever used such a feature where I bought cryptocurrencies straight at a platform because I wanted to use it there, doesn't sound fun.

So, I believe these things won't really make much of a difference because most people probably just deposit and withdraw cryptocurrencies on casinos that are mainly cryptocurrency-based and might accept fiat deposits optionally. The percentage of people using fiat-crypto on-ramps would be really low in my opinion.

I have always got the impression those options are set for people who are really new into the world of cryptocurrency but have gambled before, so they ended up on Stake (or any other major Crypto gambling site) because someone recommendation or because some advertisement campaign.
~

Exactly, many popular cryptocurrency casinos are advertising excessively to reach as many audiences as possible, and most of them are not specifically targeted at cryptocurrency users. So it is expected that they offer this feature to make the convenient for non-crypto users to be able to play easily within the site. Indirectly it interest other to build their own crypto casino business. This leads to my assumption as follows.

My view regarding strict acceptance of fiat-crypto payment gateway is that since it is easy to make a new casino, it is necessary from their side to rely on a legally sound license as what MoonPay asks for any new casino requests to use their service.

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Quote from: bhadz on August 27, 2023, 05:29:40 PM

Quote from: TimeTeller on August 26, 2023, 06:26:11 PM

Quote from: bhadz on August 26, 2023, 04:52:36 PM

If those payment processors are being monitored by their local regulators and there's a rule that they need to follow to cease accepting new casinos into their platform that shall use their services then they have to follow and obliged to obey. As much as for the sake of business, they'll surely love to follow and allow everyone to use them. But I guess there has to be a reason like the regulators that are closely monitoring and have became strict on their protocols so, they have no choice but to stop their partnership on them.

They just don't want to ruin their business by complying with what they are told to do.
Maybe, they have directive from their management not to accept any casino business anymore for the time being.
But once the regulators are fine with it, they will surely accept more of this in the future, because it is business.
We can't tell what's their reasoning but for sure they have valid one, because there are so many online casinos now that they do need such kind of payment gateway.

Yup, they're running a business and that's why they need to take care of it and whichever policy is being imposed they have no option but to follow it. And if that takes to stop making business with the casinos then they have to obliged with that. But I am thinking of a solution like them making a company B and that's solely going to offer the same service exclusively for the casinos. That's happening and they're just going to rename it and still follow some protocols and rules whatever is made for them to protect their business so, they can't also lose clients and revenue.

I think the US and United kingdom have more strict rules to be obeged compare to other regions where there are lesser strict rules. Everyone want to keep there businesses to prevent sanctions which can attract a bigger fine. This is why some of the reliable international monetary companies are very careful on who they add to there lists and the cooperation they make will new businesses if they are not regulated to prevent a scene that can atract sanction on them. Since the old players had been in the game for long, they are bound to enjoy more of the services.

bhadz

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Quote from: TimeTeller on August 26, 2023, 06:26:11 PM

Quote from: bhadz on August 26, 2023, 04:52:36 PM

If those payment processors are being monitored by their local regulators and there's a rule that they need to follow to cease accepting new casinos into their platform that shall use their services then they have to follow and obliged to obey. As much as for the sake of business, they'll surely love to follow and allow everyone to use them. But I guess there has to be a reason like the regulators that are closely monitoring and have became strict on their protocols so, they have no choice but to stop their partnership on them.

They just don't want to ruin their business by complying with what they are told to do.
Maybe, they have directive from their management not to accept any casino business anymore for the time being.
But once the regulators are fine with it, they will surely accept more of this in the future, because it is business.
We can't tell what's their reasoning but for sure they have valid one, because there are so many online casinos now that they do need such kind of payment gateway.

Yup, they're running a business and that's why they need to take care of it and whichever policy is being imposed they have no option but to follow it. And if that takes to stop making business with the casinos then they have to obliged with that. But I am thinking of a solution like them making a company B and that's solely going to offer the same service exclusively for the casinos. That's happening and they're just going to rename it and still follow some protocols and rules whatever is made for them to protect their business so, they can't also lose clients and revenue.

Hispo

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Quote from: dezoel on August 27, 2023, 11:00:31 AM

Who uses the "buy crypto" feature on the casinos anyway? Isn't it easier to just buy from an exchange and send it either straight to your gambling account or send it through your wallet which would probably cost you less than paying the fees when you make a purchase using your credit or debit card? I don't remember if I have ever used such a feature where I bought cryptocurrencies straight at a platform because I wanted to use it there, doesn't sound fun.

So, I believe these things won't really make much of a difference because most people probably just deposit and withdraw cryptocurrencies on casinos that are mainly cryptocurrency-based and might accept fiat deposits optionally. The percentage of people using fiat-crypto on-ramps would be really low in my opinion.

I have always got the impression those options are set for people who are really new into the world of cryptocurrency but have gambled before, so they ended up on Stake (or any other major Crypto gambling site) because someone recommendation or because some advertisement campaign.

They enter and realize they have never used Bitcoin or altcoins, since casinos would not like those new users to go without trying that the website has to offer, it is a question of common sense for them to have something set up so newbies into crypto can buy and gamble right away, since most FIAT gamblers are likely to have a credit card, I would argue those payment processors indeed accomplish a purpose in crypto casinos that can afford to have them.

dezoel

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Who uses the "buy crypto" feature on the casinos anyway? Isn't it easier to just buy from an exchange and send it either straight to your gambling account or send it through your wallet which would probably cost you less than paying the fees when you make a purchase using your credit or debit card? I don't remember if I have ever used such a feature where I bought cryptocurrencies straight at a platform because I wanted to use it there, doesn't sound fun.

So, I believe these things won't really make much of a difference because most people probably just deposit and withdraw cryptocurrencies on casinos that are mainly cryptocurrency-based and might accept fiat deposits optionally. The percentage of people using fiat-crypto on-ramps would be really low in my opinion.

davis196

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1.You should move this topic to the Gambling Discussion forum.
2.I can assume that all fiat-crypto payment gateways are using fiat banks to handle their incoming fiat transactions and most of the banks want to stay away from the gambling industry.
I haven't done any research about this topic and I don't understand why would a crypto casino want to accept fiat deposits. Accepting fiat deposits means that the crypto casinos will have to compete with the big fiat casinos. Staying in the crypto niche means less competition and less expenses for implementing and maintaining such fiat-to-crypto payments(by paying the payment gateway companies, that are providing such payment gateways).

piebeyb

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I think people who play at crypto casinos use more crypto by buying crypto first on exchange sites then sending it to the casino, it seems a bit complicated but I'm sure it's been a long time and is often done so people think it's normal and not there are things that are troublesome, even so something that is actually easy don't make it difficult.

After all, not many people want to make deposits with fiat money let alone exchange fiat to crypto directly at the casino, on average most of them buy crypto on exchange sites then deposit it at the casino. most gamblers in crypto casinos use their crypto money more than fiat. but that's what I caught from some gamblers that I often see on streamers and influencers also doing the same thing maybe. Wink

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Quote from: worle1bm on August 26, 2023, 07:46:51 PM

Quote from: Oshosondy on August 24, 2023, 06:44:07 AM

I would have make some researches about what you posted, but my findings would be of waste because I can not remember the last time I used fiat to deposit or withdraw on a gambling site. I used crypto for deposit. Bitcoin and other cryptocurrencies makes this easy, all the gambling sites that have announcement thread on this forum are all accepting cryptocurrencies.

With these crypto casinos I also prefer them instead of depositing money from the accounts and leaking all the information although KYC is there but still prefer crypto deposits only.But the fun with fiat one's is in physical presence where you have that kind of feel so for online deposits crypto suits me well.

After getting to know crypto casinos, I feel like this is what I hoped for because by gambling using crypto, I don't have to go to a physical casino like other people. I could gamble at home and no one would know what I was doing. Besides that, I can also choose whichever coin I want to gamble with.

The presence of this crypto casino helps me to get convenience in gambling so that I can get entertainment and pleasure in gambling. It's normal that crypto casinos also cooperate with payment gateways like Moonpay or others because crypto casinos also know that some people prefer fiat as their deposit rather than using crypto for their deposit.

But sadly, for the KYC issue, crypto casinos nowadays have started implementing KYC for their users. And those of us already using crypto casinos should also consider choosing casinos that have not fully implemented KYC for all their members.

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Quote from: Oshosondy on August 24, 2023, 06:44:07 AM

I would have make some researches about what you posted, but my findings would be of waste because I can not remember the last time I used fiat to deposit or withdraw on a gambling site. I used crypto for deposit. Bitcoin and other cryptocurrencies makes this easy, all the gambling sites that have announcement thread on this forum are all accepting cryptocurrencies.

With these crypto casinos I also prefer them instead of depositing money from the accounts and leaking all the information although KYC is there but still prefer crypto deposits only.But the fun with fiat one's is in physical presence where you have that kind of feel so for online deposits crypto suits me well.

Topic: Thought's on many major fiat-crypto payment gateways ditching casino business's? - page 2. (Read 646 times)