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Topic: Understanding the Emergence of Crypto Gambling (Read 367 times)

legendary
Activity: 3122
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
Our process of changing and adapting to all kinds of different fields including gambling, I read stories about history or through movies about gambling in history, it is like an entertaining game and gradually transforms under human use. I remember the stories my grandfather used to share about gambling through the Mahjong,... well almost everyone knows how to play it and the process of change reaches the decks of cards and there are many different games based on it, then comes the casino time, then the process online gambling,.... and it can also be speculated that in the future we will also witness many forms of play where the chance of gambling is present in change. I asked a certain project to share about the form of VR combined with gambling, perhaps it is a smart idea for the ongoing technological change.

I guess that's the next big thing in gambling industry - the rise of VR as we are already in this digital age. It is only a matter of time before the VR thing goes to mainstream. As of now, only few can afford such tech because it is expensive. But sooner or later, this tech will also become economical and so a lot will find it affordable to use in their games.

Do remember, when crypto gambling was just at its early stages, only small number of users were playing. And now, if you have seen this forum alone, a lot of  crypto casinos and bookies are already existing. It means, this type of business is growing and so the demand is increasing.

legendary
Activity: 2604
Merit: 2353
Looking at how governments have taken this issue about money laundering and KYC very seriously, I prefer to stay far away from these decentralized casinos that do not ask for KYC and that offer anonymity because sooner or later governments will seize all decentralized casinos because they operate without a license and don't ask for kyc, they will soon be accused of money laundering by governments
What else? They could seize them or shutdown them, what will happen? Unlike centalized casinos, decentralized/web3 ones are non-custodial. It means you don't need to deposit a bankroll in order to play. Your funds stay into your wallet, and the stakes you play are sent into a smart contract. So even if authorities manage to block them you would only lose funds in play at most.
legendary
Activity: 2562
Merit: 3477
Cryptocasino and bookmaker organizations have a lot of things that you need to strive for and what else needs to be introduced. Firstly, to refuse the COS, but for this you need to pay all the winnings in cryptocurrency. Secondly, pay all the winnings, even long-term-per-income players in sports bets. You know that in my country, not all bookmakers pay winnings. It often happens that if a person starts often and win a lot, then an account is blocked. We need to get away from this practice. This will benefit the entire industry.
sr. member
Activity: 1708
Merit: 295
https://bitlist.co
Our process of changing and adapting to all kinds of different fields including gambling, I read stories about history or through movies about gambling in history, it is like an entertaining game and gradually transforms under human use. I remember the stories my grandfather used to share about gambling through the Mahjong,... well almost everyone knows how to play it and the process of change reaches the decks of cards and there are many different games based on it, then comes the casino time, then the process online gambling,.... and it can also be speculated that in the future we will also witness many forms of play where the chance of gambling is present in change. I asked a certain project to share about the form of VR combined with gambling, perhaps it is a smart idea for the ongoing technological change.
hero member
Activity: 2604
Merit: 816
🐺Spinarium.com🐺 - iGaming casino
It is also because of the increasingly popular development of crypto that finally the crypto casino industry is also experiencing large growth.
I am also one of the non-crypto online gamblers who finally switched to crypto casinos. Apart from that, I also use crypto which can be staked. Another reason is that the asset control that I can do well in gambling keeps me from losing control in betting.
different from online casinos with fiat. I have had bad experiences with all of them. we know how easy online transactions are, with a device in hand everything can be done easily. Fiat casino gambling is very easy to use up all the money in our bank account.
Crypto casinos have now found a place for gamblers who want to gamble online. They can hide their gambling activities at online crypto casinos from other people. As more and more people gamble at crypto casinos, they are finding a different experience.

When gambling at a crypto casino, you have to be careful because not all crypto casinos can provide a good experience. You have chosen a crypto casino that can provide staking facilities so you can get other benefits. This allows you to get returns in tokens or other crypto in addition to gambling.

In the future, these crypto casinos will grow even more rapidly. Moreover, technological developments will also improve. That will support crypto casinos' becoming more popular, and crypto will also become more popular.
hero member
Activity: 1344
Merit: 583
Once in a great while, an innovative technology will emerge that changes the course of human history. In the late 1990s and early 2000s, the Internet was so powerful that it changed how the world communicated and worked.

Blockchain technology and cryptocurrencies can be a powerful change like the Internet. When it comes to crypto gambling, change is happening rapidly. Keep reading to understand the emergence of crypto gambling, why it came into existence and how it can continue to alter the sports betting and casino gaming industries.

The Intersection of Crypto and Casino
Crypto Gambling Provides What Bettors Seek
If gambling cryptocurrencies didn’t give sports bettors and casino gamers what they wanted, it wouldn’t exist. See below for the things that make crypto betting the choice among professional gamblers.

Crypto Betting Strikes Down Stringent KYC (Know Your Customer) Regulations
KYC regulations are rampant in the online sports betting the industry. The reason is that often when we play on a traditional online sportsbook we must fund our accounts via ACH or credit card.

All crypto transactions are recorded on blockchains. The transactions are there for everybody to see, but they don’t provide details regarding the transactions. This keeps gamblers anonymous for the most part. Anonymity and privacy are two things all casino and sports bettors crave.

Casino Game Fairness
Although it’s impossible for blockchain technology to help provide live sporting event fairness, if the ref blows a call, only replay can overturn it, blockchain tech does provide casino fairness. By fairness, we mean crypto casino games provide provably fair mechanisms. In other words, when casino players bet on crypto platforms, the players can prove that the outcomes are fair. This is untrue when we play on a traditional online casino platform.

Fast and Cheap Transactions
Cutting out the middle man, i.e., the credit card company, to fund our betting accounts allows for faster and cheaper transactions. Many crypto platforms, Nitrobetting.eu as an example, allow for diverse types of cryptocurrency funding.

BTC remains an option. But so does ETH, or Ethereum, and LTC, or Litecoin. Funding with Ethereum or Litecoin is much quicker due to both Ethereum’s and Litecoin’s consensus processes.

Read more→ https://nitrobetting.eu/guides/understanding-emergence-crypto-gambling/

Great post, I think for the most part you are really on to something there with the psychological explanaition for why crypto betting is percieved to be better to gamblers, but I think that KYC and regulations are looming for crypto casinos and its only a matter of time until governments start cracking down due to the very lack of KYC and AML policies. Crypto gambling is no doubt changing the game though, definitely in a good way!
legendary
Activity: 3164
Merit: 1127
Leading Crypto Sports Betting & Casino Platform
With the emergence of cryptocurrencies, people started paying more attention to cryptocurrencies due to the high volatility they offer and as many people bought cryptocurrencies to do hodl or trade, crypto casinos emerged that offered something that fiat casinos could not afford. to offer, which was anonymity and privacy. people felt more comfortable playing in crypto casinos than playing in fiat casinos, so the crypto casino market grew and to this day continues to grow even though they are forced to have a license and require kyc from their customers. There is no doubt that the creation of bitcoin has brought benefits to many things

What I like about crypto gambling is the privacy since we don't need to provide personal details like debit and credit cards payment do or even fiat. Crypto value our privacy as a bettor but the only thing here is that when we create accounts on gambling platforms I think that will always require KYC. Fully decentralized casinos are I think telegram casinos though I haven't tried one yet but some say it is risky as well.
No fully decentralized casinos are not only casinos on telegram. It concerns Web3 casinos where you can gamble without registering an account. Directly with your wallet through smart contracts

Looking at how governments have taken this issue about money laundering and KYC very seriously, I prefer to stay far away from these decentralized casinos that do not ask for KYC and that offer anonymity because sooner or later governments will seize all decentralized casinos because they operate without a license and don't ask for kyc, they will soon be accused of money laundering by governments
legendary
Activity: 2590
Merit: 1882
Leading Crypto Sports Betting & Casino Platform
Greediness is nothing compared to addiction ss a disaster, greed is just a tendency and might nit always be the case or the reason behind loss, but addiction is worse cause you are always in a situation where you can act Greedily every day and end up ruin yourself.

Yes, there is a great point there, I personally think that both things are very destructive, that is why we as players if we had a little more control we would only control the money and every time you win in a casino even if it is little money then you have to withdraw that money to feel it, to touch it, of course this is my recommendation, everyone is the owner of the decision what they can do, but in general terms if a person continues it is because they can improve and avoid what is greed and addiction, because for many this is boring and not very fun, but it is much better that things can be done that way.
legendary
Activity: 2604
Merit: 2353
What I like about crypto gambling is the privacy since we don't need to provide personal details like debit and credit cards payment do or even fiat. Crypto value our privacy as a bettor but the only thing here is that when we create accounts on gambling platforms I think that will always require KYC. Fully decentralized casinos are I think telegram casinos though I haven't tried one yet but some say it is risky as well.
No fully decentralized casinos are not only casinos on telegram. It concerns Web3 casinos where you can gamble without registering an account. Directly with your wallet through smart contracts. So they can operate on every blockchain using smart contract actually, especially on EVM-compatible blockchain usually and/or Layer 2 networks to remain fast and cheap, because all is done through blockchain or network transactions.
hero member
Activity: 1246
Merit: 699
Blockchain technology has become popular, like Internet technology, which was first introduced. It is possible that Blockchain technology will accompany our daily lives in the future. We have seen it happen in the gambling industry, where there are now many crypto casinos that provide facilities for people to use crypto to gamble.

Crypto casinos provide anonymous terms to gamblers so they don't have to reveal who they are when they gamble. Although in recent years, crypto casinos have asked their users to carry out KYC, that won't stop other crypto casinos from still providing anonymity facilities to their users.

When playing gambling, we also have to think that gambling is entertainment and not a place to make money. When we just want to gamble, we are just enjoying our free time, and casinos still allow us to gamble anonymously. What's interesting about using this crypto casino is that we can use various crypto coins provided by the crypto casino.
It is also because of the increasingly popular development of crypto that finally the crypto casino industry is also experiencing large growth.
I am also one of the non-crypto online gamblers who finally switched to crypto casinos. Apart from that, I also use crypto which can be staked. Another reason is that the asset control that I can do well in gambling keeps me from losing control in betting.
different from online casinos with fiat. I have had bad experiences with all of them. we know how easy online transactions are, with a device in hand everything can be done easily. Fiat casino gambling is very easy to use up all the money in our bank account.
sr. member
Activity: 2422
Merit: 357
What I like about crypto gambling is the privacy since we don't need to provide personal details like debit and credit cards payment do or even fiat. Crypto value our privacy as a bettor but the only thing here is that when we create accounts on gambling platforms I think that will always require KYC. Fully decentralized casinos are I think telegram casinos though I haven't tried one yet but some say it is risky as well.

Yoir right crypto has helped innovate thigns a little, not only has privacy been increased but problems of funding your account from anywhere in the world that crypto is not banned you can do that seamlessly and easily without having to worri about bank networks or all those headaches.
Also, you can access crypto casinos every where in your country as long as it is accepted and you're allowed to.
Crypto gambling change the game of online gambling and seriously, many are into crypto gambling for the purpose of anonymity and they don't have to prove anything with regards to their accounts unlike in bank that you need to explain where you get the money and most of the banks online are not allowing deposits from a casinos.
hero member
Activity: 2604
Merit: 816
🐺Spinarium.com🐺 - iGaming casino
Blockchain technology has become popular, like Internet technology, which was first introduced. It is possible that Blockchain technology will accompany our daily lives in the future. We have seen it happen in the gambling industry, where there are now many crypto casinos that provide facilities for people to use crypto to gamble.

Crypto casinos provide anonymous terms to gamblers so they don't have to reveal who they are when they gamble. Although in recent years, crypto casinos have asked their users to carry out KYC, that won't stop other crypto casinos from still providing anonymity facilities to their users.

When playing gambling, we also have to think that gambling is entertainment and not a place to make money. When we just want to gamble, we are just enjoying our free time, and casinos still allow us to gamble anonymously. What's interesting about using this crypto casino is that we can use various crypto coins provided by the crypto casino.
hero member
Activity: 826
Merit: 641
Leading Crypto Sports Betting & Casino Platform
Crypto Betting Strikes Down Stringent KYC (Know Your Customer) Regulations
KYC regulations are rampant in the online sports betting the industry. The reason is that often when we play on a traditional online sportsbook we must fund our accounts via ACH or credit card.

Casino Game Fairness
Although it’s impossible for blockchain technology to help provide live sporting event fairness, if the ref blows a call, only replay can overturn it, blockchain tech does provide casino fairness. By fairness, we mean crypto casino games provide provably fair mechanisms. In other words, when casino players bet on crypto platforms, the players can prove that the outcomes are fair. This is untrue when we play on a traditional online casino platform.

Fast and Cheap Transactions
Cutting out the middle man, i.e., the credit card company, to fund our betting accounts allows for faster and cheaper transactions. Many crypto platforms, Nitrobetting.eu as an example, allow for diverse types of cryptocurrency funding.
Thank you for at least putting a few pieces down for people to understand and appreciate cryptocurrency and its relationship with betting. But still, these are not without some faults, although it is obvious that you are trying to appraise the crypto-casinos but we should not misplace facts by doing so.

To avoid writing an epistle, let me take it one after the other but in a summary note;

1. KYC/Regulation: This was particularly true when crypto casino was newly introduced and it was even partly introduced for that purpose. But regulation has taken over now, so I do not see how this makes it better than fiat in this regard. And if you say that some casinos are still providing a no-KYC service, a few fiat casinos are doing that too. So what?

2. Casino Game Fairness: This is not unique as it is not peculiar to crypto casinos, fiat casinos are providing provably fair service as well.

2. Fast and Cheap Transactions: Well, this is a good remark and it is so true if it is a cross-border deposit we are looking at. But if it is a local casino we are dealing with, a local bank transfer is the fastest and cheapest and it's in fiat.

However, this is not to counter or antagonise you but just remarks to prove that those statements are not just unique to crypto-casino since fiat services can also do them.
member
Activity: 224
Merit: 68
Bitvest.io★ Play Plinko or Invest!
What I like about crypto gambling is the privacy since we don't need to provide personal details like debit and credit cards payment do or even fiat. Crypto value our privacy as a bettor but the only thing here is that when we create accounts on gambling platforms I think that will always require KYC. Fully decentralized casinos are I think telegram casinos though I haven't tried one yet but some say it is risky as well.

Yoir right crypto has helped innovate thigns a little, not only has privacy been increased but problems of funding your account from anywhere in the world that crypto is not banned you can do that seamlessly and easily without having to worri about bank networks or all those headaches.
legendary
Activity: 2576
Merit: 1252
Leading Crypto Sports Betting & Casino Platform
Crypto and gambling are a perfect match due to the demand for privacy, transparency, and speed. Key benefits of crypto over traditional platforms include KYC regulations and provably fair games. The trend is further fueled by lower fees and faster transactions with cryptocurrency. Clearly, crypto gambling is here to stay and will likely transform the industry significantly. With more people adopting crypto and seeking safe gambling options, the future of crypto gambling looks promising. Anonymity, speed, and provable fairness are exactly what many gamblers desire. KYC requirements can be a hassle, but crypto gives players more control. Provably fair games are also a major advantage, eliminating any doubts about fairness. How traditional casinos gonna respond – adapt or fall behind,  just matter of time they have to match the requirements to stay alive in the industry. Crypto is revolutionizing the gambling world slowly.
The concept is supposed to be what's mentioned above however there are still inconsistencies to be worked afterwards for this industry in general. First is with KYV wherein even in web 3 platforms, it is evident and I have nothing against it, personally. But of course those who prefers not to comply are also making valid actions simply because that is their preference. With faster and cheaper transaction fees, it is still hard to aappreciate at the present 'coz as we all know there are only times wherein this actually happens. But this is not to create negative impression on web 3 gambling industry. There are still room for improvement and that is what I am looking forward with. I still do cross from fiat based to web 3 and vice versa and I cannot see anything wrong with it.

Given how new this industry is, we cannot expect it to immediately meet our expectations early. What's more to focus with is you gambling habits and betting behavior to avoid addiction no matter what platform you are using.
legendary
Activity: 3122
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
First of all, Even crypto casino now requires KYC but some casino just requires this indefinite time but they literally requires it which means you can’t really play anonymously due to their license compliance for AML.

Second, You should value your identity no matter what is your financial standing in life. Regardless if you are poor, Your identity is the only treasure you can treasure since it’s you. You might encounter in the future if ever your KYC landed on wrong person which use it on illegal activities. All the punishments will go to you since it’s your identity.
While it is unfortunate that cryptocurrency casinos are now more strict on the application of KYC policies, at the same time we cannot really blame them, to begin with they are being forced by governments to do so, and since this market has become quite big, now we are receiving more attention than ever, something that will only get worse as this market keeps growing and getting more powerful, however it is still sad to see that one of the main selling points of cryptocurrency casinos has disappeared already.

Owed to complying with government's regulations, online crypto gambling needs to get their license in order to operate a legit business. Hence, they have no choice but implement the AML/KYC to their clients. However, in most casinos, they will only require you to submit KYC if you exceed their limit of accumulated deposit/withdrawal of $2k or 2k Eur. It depends on their license. This, I believe, we need to accept the fact that we are already in this age of regulation. We can't eradicate such protocol in order for them to survive in this business.
hero member
Activity: 2884
Merit: 794
I am terrible at Fantasy Football!!!
First of all, Even crypto casino now requires KYC but some casino just requires this indefinite time but they literally requires it which means you can’t really play anonymously due to their license compliance for AML.

Second, You should value your identity no matter what is your financial standing in life. Regardless if you are poor, Your identity is the only treasure you can treasure since it’s you. You might encounter in the future if ever your KYC landed on wrong person which use it on illegal activities. All the punishments will go to you since it’s your identity.
While it is unfortunate that cryptocurrency casinos are now more strict on the application of KYC policies, at the same time we cannot really blame them, to begin with they are being forced by governments to do so, and since this market has become quite big, now we are receiving more attention than ever, something that will only get worse as this market keeps growing and getting more powerful, however it is still sad to see that one of the main selling points of cryptocurrency casinos has disappeared already.
hero member
Activity: 1316
Merit: 561
Leading Crypto Sports Betting & Casino Platform
KYC restrictions, for instance. They're annoying, slowing things down and asking too many questions. Crypto is different. Privacy is something we all value. Remember fairness. Traditional casinos are known for their trickery. Crypto casinos put everything on the blockchain for everyone to see. Transparent, fair, and the future of gambling. Whether you're a pro or a beginner, try crypto gaming. It's a game-changer, and early investors benefit most. Fortune favors the adventurous, and crypto's new universe offers many options.
legendary
Activity: 2128
Merit: 1775
Once in a great while, an innovative technology will emerge that changes the course of human history. In the late 1990s and early 2000s, the Internet was so powerful that it changed how the world communicated and worked
That's the life of the world and humans, in the past people gambled secretly or went to casinos to gamble, now with technology that has been created by super sophisticated humans, People no longer have to carry out activities like in the 90s, people just open their Android/laptop and connect to the internet. Everything can be accessed according to what you want.

I am sure that with the presence of technology like today, in the future online crypto casinos will implement the best innovations for their users, you can imagine the effect of current technology, Minors are smarter at gambling than adults, on the contrary, adults ask minors to teach them how to gamble, how to operate, this is a shame, I agree with current technological advances in the field of gambling, but the effects of misuse of this technology I feel sorry for society.

Technology is good, sometimes those who use it are not good. I hope that in the future the gambling industry will really implement KYC as fully as possible, meaning that this gambling industry will really set rules that are truly efficient for its users.
hero member
Activity: 1288
Merit: 564
Bitcoin makes the world go 🔃
What I like about crypto gambling is the privacy since we don't need to provide personal details like debit and credit cards payment do or even fiat. Crypto value our privacy as a bettor but the only thing here is that when we create accounts on gambling platforms I think that will always require KYC. Fully decentralized casinos are I think telegram casinos though I haven't tried one yet but some say it is risky as well.


I personally don't really have a problem giving my identity to the casino platform that I play on, because it's just an identity and I'm not so rich or a powerful person that my identity has to be kept tightly hidden - as long as the casino platform protects my identity, then I won't object to performing KYC on their platform. My own reason for using a crypto casino is more about the ease of withdrawing and depositing into an account, because you only need to deposit to the address they provide or include your crypto wallet to withdraw, and all of that is processed quite quickly. There is no feature that users want more than fast and easy deposits or withdrawals.

First of all, Even crypto casino now requires KYC but some casino just requires this indefinite time but they literally requires it which means you can’t really play anonymously due to their license compliance for AML.

Second, You should value your identity no matter what is your financial standing in life. Regardless if you are poor, Your identity is the only treasure you can treasure since it’s you. You might encounter in the future if ever your KYC landed on wrong person which use it on illegal activities. All the punishments will go to you since it’s your identity.
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