Top 3 Reasons Why Cytpocurrency Gambling is more Addictive than Fiat Gambling! - page 3.

Solosanz

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Quote from: len01 on March 21, 2023, 07:39:14 AM

the reason I choose to gamble at crypto casinos over fiat casinos is because for me crypto casinos often give me wins even if only small wins. I have felt several times on my slot game that fiat casinos spend their balances faster, but crypto casinos still provide little profit.

but I don't know if it's just my feeling or indeed everyone feels what I feel.

Yeah I experienced the same because slots machine in land based casino seems either manipulated or the RTP rate is lower than online slots. There's no way for us to know the system behind the slots machine, even the worker already trying to convince us if the slots machine is trusted enough, but if we can't verify, we can't say his words is right.

But if you're betting in sports, I think either crypto casino or fiat casino is same, the only difference is the odds and betting options.

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Quote from: inthelongrun on March 21, 2023, 05:48:11 AM

I do not call myself a gambling addict but I am a regular gambler but at least with minimal bets nowadays. I am not for number 1 as OP stated since I am a holder of cryptocurrencies, especially bitcoin. So I am into crypto gambling rather than fiat online gambling partly because of anonymity. Yes, I knew a lot of crypto casinos are asking for KYC but there are still some that are not asking for it. Although they might ask for it if the amounts are probably too high like hundreds of thousands of dollars. So I am using crypto casinos for my gambling mainly because I am a big fan of cryptocurrencies.

yes because the OP wrote about casinos using crypto in this forum that almost the average rate of forum users as a whole owns crypto. of course the OP understands that almost the average gambler who comes from this forum clearly owns crypto and uses crypto to play in casinos compared to fiat currency, besides gambling and online casinos are used to make it easier for players to multiply the amount of crypto they hold to make it even more, but mostly many people lose their crypto after gambling Cheesy

Accardo

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Quote from: qwertyup23 on March 20, 2023, 06:31:22 PM

Just to add on the list that you provided, I think it also boils down to convenience and security.

Those are the key reason to online casino gambling that pins people to continue staking games. It shares similar around the clock working hours with the traditional casino; 24hrs/day. And a player doesn't need to pay hotel bills adding to his expenses, it just feels confortable playing at home any time of the day. And the security, in my view is for casinos that still pays out in cash, it'll be risky to go home at night with your wins. I mean gamblers have complained being attacked or robbed off their earnings while going home from the casino. So, many players wouldn't like to face such disputes when they're options like online gambling with cryptocurrency. On the contrary I don't see online casino outsmarting the offline casino any time soon. Nothing beats going out to compete with real people, unlike the online live casino, where players can't be sure if their opponents are bots or human. That's the reason a lot of players would still prefer the offline casino anytime, as they gain networks there too and make friends eventually.

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Quote from: elevates on March 20, 2023, 09:52:19 AM

Do you guys think my assessment is to the point or do you think there are more reasons related to cryptocurrency gambling addiction? Please go ahead and reply to this thread. If you have a valid point that I think is related to this thread then I would add it to this topic

Uhh I don't think the medium here matters really, chips or crypto, you can easily convert them to whatever you can immediately use no matter the time. Chips need to be exchanged after leaving the casino so I don't exactly see how it's an issue. If you're gonna argue that crypto is money while chips are only a representation of money then really, the feeling of "satisfaction" only happens when you physically touch money imo, crypto doesn't do that, and I reckon chips are closer to achieving that than crypto.

As for the other two, I'd say I agree with those, though I reckon no KYC is slowly disappearing already from online casinos, a lot of famous ones already require it after all. As for Volatility, well, that's just how it is with crypto.

len01

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the reason I choose to gamble at crypto casinos over fiat casinos is because for me crypto casinos often give me wins even if only small wins. I have felt several times on my slot game that fiat casinos spend their balances faster, but crypto casinos still provide little profit.

but I don't know if it's just my feeling or indeed everyone feels what I feel.

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Quote from: inthelongrun on March 21, 2023, 05:48:11 AM

I do not call myself a gambling addict but I am a regular gambler but at least with minimal bets nowadays. I am not for number 1 as OP stated since I am a holder of cryptocurrencies, especially bitcoin. So I am into crypto gambling rather than fiat online gambling partly because of anonymity. Yes, I knew a lot of crypto casinos are asking for KYC but there are still some that are not asking for it. Although they might ask for it if the amounts are probably too high like hundreds of thousands of dollars. So I am using crypto casinos for my gambling mainly because I am a big fan of cryptocurrencies.

As long as you can use crypto properly and when you use it for gambling, you can control the amount of money you use is not too big, you are unlikely to be asked to do KYC. Crypto casinos that don't ask their users to do KYC may still give them a chance to gamble because casinos know that many people still gamble with small money and don't do any illegal activities. This helps us to keep playing gambling at trusted casinos and are not or have not been asked to do KYC. But one day, there is a possibility that casinos will stipulate that all members must do KYC.

inthelongrun

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I do not call myself a gambling addict but I am a regular gambler but at least with minimal bets nowadays. I am not for number 1 as OP stated since I am a holder of cryptocurrencies, especially bitcoin. So I am into crypto gambling rather than fiat online gambling partly because of anonymity. Yes, I knew a lot of crypto casinos are asking for KYC but there are still some that are not asking for it. Although they might ask for it if the amounts are probably too high like hundreds of thousands of dollars. So I am using crypto casinos for my gambling mainly because I am a big fan of cryptocurrencies.

348Judah

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Should there be any differences between the crypto gambling and fiat gambling in terms of addiction, to me i see nothing much as the difference between one can get addicted to any one at any point in time, the onky thing that makes them a difference is the means, you can easily gambles through your mobile on crypto gambling if you're the type that always like using mobile device for gambling, you can get used to using fiat if you don't have access or interest on crypto gambling, the two coexist to present gamblers being addicted to gambling using any means they prefers when gambling.

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Quote from: Fivestar4everMVP on March 20, 2023, 10:05:34 AM

But ever since I discovered online gambling, and also with cryptocurrency, I started gambling again and since then, I've not stopped, right now, my family and most of my friends do not know I gamble, except those that also gamble,
So, cryptocurrencies have made online gambling very easy and fun as well, and I agree that, it has contributed a little, in its gambling addiction.

They don't know you are into gambling because you are either a grown-up man who is old enough to watch his back, or you are living far away from them and you've never made any huge loss, three days ago a cousin of mind use his father's savings to play sports bet and he lost all the money, he then went ahead to use his junior brother's account to place another bet and lose all the money, when the story leaked out we later find out that he even borrow money from someone else to gamble too. He lost all the money and he can't go back to school because there is no money. His father is heartbroken and couldn't believe that his Son is into sports betting, whereas he has warned him about how quickly gambling can destroy a life.

if I have to gamble I will rather use small money to win a less life changing amount than use big amount of money and hope that I make life-changing money, the chances are always very slim.

AicecreaME

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I very much agree with these reasons. Most of the time, people are enticed to do crypto gambling compared to fiat because of the things you've mentioned. Foremost, it's much easier to hide your identity to anyone because of anonymity in gambling sites. Although I'm afraid that this has been slowly being removed because of KYC. But as long as the provider states that the personal information won't be passed down or sold to any other party, then its all good because you're still under anonymity aside from the casino itself which vowed to you under terms and conditions to keep it private.

The thrill that the volatility brings could either make or break your winning which is mostly preferred by a player in the hopes of having higher amount compared to the amount they have won the moment it's bullish season. And like you said, the players have the option to retain their crypto winnings or exchange it to fiat which is much convenient depending on the situation.

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Quote from: elevates on March 20, 2023, 09:52:19 AM

It is not like everyone is going after crypto gambling but after COVID-19 the business of online gambling has increased more than offline gambling. Although fiat online gambling users are more than crypto ones, they tend to visit an offline casino after a few online sessions as they miss the atmosphere of an offline casino.

Whereas cryptocurrency casino users would always be loyal & habitual which makes them more addicted to gambling than a fiat gamblers. Below listed are the three reasons which I think make them more inclined.

1. Immediate gratification:

One explanation could be the immediate and continuous enjoyment that bitcoin gaming offers, whether you win or lose. A cryptocurrency can be swiftly converted into fiat currency or other cryptocurrencies, as opposed to traditional gambling, which typically calls for cash or chips, what I am referring to here is offline gambling. This feeling of immediate satisfaction can increase excitement and encourage players to keep playing.

2. Anonymity:

The amount of privacy gained by gambling with cryptocurrencies is unbelievable! Non-KYC platform, which is common may make some people feel more secure since they can offer a level of secrecy and security that more traditional forms of gambling cannot. This sense of anonymity may make it easier for individuals to engage in risky or addictive behaviors without fear of being judged or identified.

3. Thrill of volatility:

We are all aware of how unpredictable the cryptocurrency market is, with prices varying quickly and erratically. Some people may become addicted to the "high-risk, high-reward" mentality as a result of this volatility. Even though it may result in severe financial loss, they may get high from taking chances and placing large wagers.

Do you guys think my assessment is to the point or do you think there are more reasons related to cryptocurrency gambling addiction? Please go ahead and reply to this thread. If you have a valid point that I think is related to this thread then I would add it to this topic.

Cryptocurrencies are generally unregulated by government agencies and have no central regulatory body. As a result, there is no official restriction. Which things attracted gamblers the most. Moreover, transactions are done depending on the blockchain technology, so gamblers have full confidence in crypto gambling. Moreover, unpredictable fluctuations in crypto-currency prices are one of the reasons why the industry is becoming increasingly attractive to gamblers.

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Also, the set of games that are being offered by every crypto casino is vast. That's more enjoyable to have those games than to go to those typical casinos where the games are already set and there could be newer games but unlike the crypto casinos offering, they're more than of those.

Quote from: Helena Yu on March 21, 2023, 04:19:05 AM

What's online casino offer is security, you don't need to feel a criminal will attack you incase you're winning big amount money. No one will watch your activity, except people work behind the casino.

Exactly, your winnings can be hidden or displayed in the public without being known that it was who have won such amounts from the other side of the world.

Helena Yu

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There's no anonymity when you play on crypto casino because there's no casino offer Tor network, so when you access the casino you already leave a trace about your IP address and device you're currently used. So it's incorrect if crypto casino offer anonymity than fiat or land based casino.

What's online casino offer is security, you don't need to feel a criminal will attack you incase you're winning big amount money. No one will watch your activity, except people work behind the casino.

Oasisman

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I don't say it as more addictive, rather it's more of an advantage over a casino that uses fiat currency. I always have that doubt of linking my bank account to anything online especially with gambling websites, because I always have the fear of something untoward incidents that would happen to my financial assets. With crypto you don't to link your bank account and can even use dummy wallet to use when transferring or withdrawals of your crypto from the online casino.

Fundamentals Of

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I don't personally feel that crypto gambling is more addictive. If it is more addictive than playing in physical casinos, it is because it is right there at your fingertips. It is always available. You can play anytime anywhere for as long as you have an internet connection and your wallet has balance. But in this respect it is similar to many online casinos and gambling apps that are also available all the time. Many of my friends are also hooked on online gambling that is not offering crypto. Both of them are equally addictive.

dothebeats

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You got 1 part missing: easy access.

If you have some funds lying in your online account, you can easily deposit it to a crypto exchange and then send it to your favorite gambling platform. Within a few minutes you'll easily start playing without having to wait in line, get verified, or all the nonsense that they are doing in physical casinos. Well, some of them no longer requires verification but the hassle that you get from traveling from one place to another is just gone in online casinos. Plus the fact that there can be times that the physical casino is full: you don't have an option but to wait in line and watch other people play until it takes away the excitement from you.

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Quote from: qwertyup23 on March 20, 2023, 06:31:22 PM

In terms of security, gambling using crypto is relatively safer due to the various methods and KYCs being introduced nowadays.

What do you mean by safer? I do think that regardless if it's crypto-gambling or fiat online gambling, the way the betting is placed should be safe and funds are stored in secured storage. Overall though, once we deposit either crypto or fiat in an online gambling site, we are already risking our funds here to a third-party platform where in fact, we don't have any control of our own money and will leave nothing once they turned into scams.

To be safe in general or minimized the chance of being a victim of a scam site, only deposit money on a reputable site or if that's a new site we are talking to, take time to patiently wait until such time that the said site is now trustworthy to consider.

That's the importance of being centralized although, in crypto, it's not welcome by most even we have to accept the fact that centralization will be a thing in the future in any crypto-related services including crypto-gambling.

qwertyup23

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Just to add on the list that you provided, I think it also boils down to convenience and security.

Imagine, earning cryptocurrency is relatively easier due to the various methods available online. People transact and mine in order to gain cryptocurrencies and this gives them the currency in order to try and use in gambling. In terms of security, gambling using crypto is relatively safer due to the various methods and KYCs being introduced nowadays.

With the rise of online gambling and its popularity, I really think that cryptocurrency gambling would continue to rise its popularity, thereby introducing more changes and innovations in this platform.

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Quote from: Fivestar4everMVP on March 20, 2023, 10:05:34 AM

The three points you mentioned are absolutely on point, for me personally, I have never played on online fiat casino, I remember playing with fiat in my early days of gambling either twice or thrice in an offline casino, then I stopped because I feared that a family member or someone that knew me could see me and report me to my parents.

But ever since I discovered online gambling, and also with cryptocurrency, I started gambling again and since then, I've not stopped, right now, my family and most of my friends do not know I gamble, except those that also gamble,
So, cryptocurrencies have made online gambling very easy and fun as well, and I agree that, it has contributed a little, in its gambling addiction.

secure privacy (anonymity) is one of the things that makes me like online gambling rather than offline gambling, just like you my family also doesn't know about my gambling activities and that makes me calm

Besides that, the thing that I like about online gambling is that I can manage my sense of gambling, I'm not addicted, I can even stop at any time, it's different if I do offline gambling, I will definitely spend all the money I have until there's nothing left

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While there are certainly factors that make crypto gambling unique, the points mentioned in the post may not be significant factors in determining whether or not it is more addictive than fiat gambling.

First, the immediate and continuous gratification that we can get through cryptocurrency gambling is not a unique aspect of this form of gambling. Many traditional fiat gambling activities also offer immediate payouts or a quick and continuous stream of wins and losses, such as slot machines or roulette.

Second, anonymity is not unique to cryptocurrency gambling. Many fiat gambling activities also allow individuals to remain anonymous, such as playing the lottery or visiting a casino in a different city or country.

Finally, while the volatility of cryptocurrencies may create a sense of excitement for some gamblers, this is also not unique to cryptocurrency gambling. Traditional fiat gambling activities also involve risk and uncertainty, which can create a similar sense of excitement and potentially lead to addiction.

Topic: Top 3 Reasons Why Cytpocurrency Gambling is more Addictive than Fiat Gambling! - page 3. (Read 466 times)