Topic: Top 5 Advantages of Bitcoin Casinos vs. Traditional Casinos - page 9. (Read 1277 times)

I think the main reason why Bitcoin quickly developed into a sort of a gambler's currency was that it offered a certain level of anonymity to the gambler. Please correct me if I'm wrong, but there was a time when KYC was never a thing in Bitcoin gambling. So Bitcoin became a sort of an underground gambling currency. Gambling in Bitcoin means privacy.

Later on, however, although Bitcoin and other cryptocurrencies remain to be heavily used in gambling, with stricter regulations, KYC becomes a requirement for gambling platforms. Although it is not mandatory every time a user signs up, it could be required anytime. For me, if KYC becomes compulsory upon sign up, I might as well gamble with fiat.

I think the main reason why Bitcoin quickly developed into a sort of a gambler's currency was that it offered a certain level of anonymity to the gambler. Please correct me if I'm wrong, but there was a time when KYC was never a thing in Bitcoin gambling. So Bitcoin became a sort of an underground gambling currency. Gambling in Bitcoin means privacy.

Later on, however, although Bitcoin and other cryptocurrencies remain to be heavily used in gambling, with stricter regulations, KYC becomes a requirement for gambling platforms. Although it is not mandatory every time a user signs up, it could be required anytime. For me, if KYC becomes compulsory upon sign up, I might as well gamble with fiat.

I don't see how the 51% attack and Proof of Work and miner reward examples are relevant here, you are talking about Bitcoin casinos vs Traditional casinos but not about Bitcoin blockchain. Even if a transaction cannot be stolen once broadcasted, it doesn't mean that a cryptocurrency casino cannot scam you, and that is what we should be discussing. A transaction made with a bank card can also not be stolen once generated which you do in traditional online casinos, so I don't really see that as an advantage or a disadvantage.

What is actually an advantage that you could say is the deposit and withdrawal times, which can take days, especially withdrawals, if you are using a traditional online casino while it takes about minutes or sometimes hours for a cryptocurrency withdrawal to reach your wallet from the casino.

I was wondering why the privacy and convenience aspect was not mentioned here by the OP although I did not bother to click the link as provided by OP as I have had  many issues of things of that nature years past.

Privacy is what I cherish so much that I do not bother or feel worried when ever I gamble. You know in this part of the world where I come from, gamblers are not respected and are seen as irresponsible which makes one not feel alright when doing such. It is good how one can conveniently play from wherever they are with bitcoin online just to  keep themselves void of any attack and unpleasant situations relating to you gambling.
 

The main selling point of bitcoin casinos - or any online casino in general - is its ease of access and general comfortability. You don't have to travel in order to go to one, and you can literally play with any device that has a working browser that's updated and compatible with the games that they are providing. Another thing is that there aren't any time limitations on online casinos compared to traditional casinos. There are traditional casinos that only have certain operating hours, so if you're already in the middle of winning streak but the it's already their closing time, you have no choice but to leave your game and call it a day.

The odds are something "minimal(%)" that vary from casino to casino, sports betting, regardless of whether it is crypto or not, on the other hand, the bettor's skill is indifferent if he bets on crypto or traditional casino, I don't know why you mention that.

Point 2 tells me that you start to lose yourself in the idea of what you want to say.
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One of the great advantages of crypto casinos far removed from featured like PF, cryptocurrency deposits and withdrawals, is that there is a large community like bitcointalk.org that supports trust in a group of casinos.

Here's he full article→ https://n2g.io/60dc76f

1. Odds transparency
Traditional online casinos claim they run games via a random number generator. But how random is the number generator?

It’s a legitimate question. What a traditional casino says it does and what it does could be two different things. Bitcoin casinos operate via transparency. You know true odds when you wager in a Bitcoin casino.

If you’re a sports bettor, you understand that knowing the odds is the first part of making smart bets. You won’t always make winning bets, but you will make smart bets, which is the only thing we can do when betting.

In the long run, the more smart bets we make, the more we profit.

2. Safety and security
It would take 51% of all nodes to steal a transaction. By 51%, we mean thousands of computers would have to decide to steal the same transaction.

It’s almost an impossibility. We can’t write impossible because nothing is 100% impossible. But the amount of work it would take to steal your Bitcoin casino deposit is as close to impossible as it gets.

The real reason? Proof of work rewards Bitcoin miners to create blocks, which means the rewards of validating and securing transactions is more than the reward from stealing almost all BTC transactions.

3. Game variety
Variety of games is a sign of an honest casino. The more games there are, the more ways players can win. If a casino offers fewer games, there’s a chance those games could be more prone to shady tactics that lead to losses.

Also, it’s easier to manage payouts when there are fewer games. Traditional casinos that offer fewer games may be fudging the amount they pay out on each win.

Bitcoin casinos often provide more games. Not only that, but the payouts are also often higher due to Bitcoin’s transparency and decentralized aspects.

Here's he full article→ https://n2g.io/60dc76f

You title stated "Top 5 advantages" and the content ended at number three, what happened to the remaining 2 Op? If you want us to click on the link to check out he rest then why don't you edit your post and make it less misleading.

Besides, I expected to see some kind of contrasting ideas like comparing a Bitcoin casino to traditional casino but instead you only wrote about somethings about Bitcoin casino and left out the traditional casino entirely another misleading information in your post.
This is not your first time of creating content like this and I'm sure another one will pop out again with incomplete information.

It’s a legitimate question. What a traditional casino says it does and what it does could be two different things. Bitcoin casinos operate via transparency. You know true odds when you wager in a Bitcoin casino.

It would take 51% of all nodes to steal a transaction. By 51%, we mean thousands of computers would have to decide to steal the same transaction.

Variety of games is a sign of an honest casino. The more games there are, the more ways players can win.

I was wondering why the privacy and convenience aspect was not mentioned here by the OP although I did not bother to click the link as provided by OP as I have had  many issues of things of that nature years past.

Privacy is what I cherish so much that I do not bother or feel worried when ever I gamble. You know in this part of the world where I come from, gamblers are not respected and are seen as irresponsible which makes one not feel alright when doing such. It is good how one can conveniently play from wherever they are with bitcoin online just to  keep themselves void of any attack and unpleasant situations relating to you gambling.