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.
But there are many people that are online making use of fiat online casinos too and they are addicted.
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.
Before I joined this forum, I have always prefer to bet online and withdraw to my bank account and it was very simple to do.
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.
Most bitcoin and other crypto gambling sites today are requiring for KYC. In my country, on fiat casino, you do not even need KYC because all about you can be traced to your bank. I was wondering why no KYC is not needed for gambling in my country in fiat gambling sites, I later realized that no privacy and no anonymity as your bank account is linked to your account on the local gambling sites. The local gambling site will instruct you to use the name that correspond to your bank account for registration.
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.
I agree, but you can also make use of stable coins like USDT, you are not wrong though.
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.
addiction.
I have never played using betting agents or offline casino, I played on online fiat casinos too. I was addicted with online fiat casino.
My post is based on the topic title. Be it crypto or fiat, both are addicting.