Topic: What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies (Read 1105 times)

I don't think that is all the casino gambling website that I have their own token to gamble with it is few of the casino gambling website that I know very well that have a token and they don't mandate anyone to make use of their token they will also list different coins that when you want to make a deposit they will use to deposit and then when you also win you can also use one of them mostly the preferable one to make their withdrawal I have not seen them to mandate anyone to make use of their token because I noticed that the frame brand of casino have one or two tokens that belongs to them.

It seems like a rather dangerous mix to start converting your funds with a known and likely more stable value into the altcoin version that certain casinos have launched. They often have complete or large amounts of control over the network that is circulating this currency, so would be able to manipulate it in different ways. The only exception might be is if you get this cryptocurrency as a freebie and are able to easily cash it out, but as casinos are in business to make money from gambling - they don't give away freebies for long without good reason. It seems like a whole lot of unnecessary expense, effort and a bit of a gimmick that would distract from the main running of the casino, plus it opens up security risks for them.

It does make sense sometimes, tokens can be used as rewards for users of a gambling platform, such as for referrals or bonuses for inviting new players. If the platform wants to gain exposure in the crypto market, creating their own coin or token could be a strategic move. It can make them as a legitimate and innovative gambling platform, especially if they showcase a well-designed and profitable token.

Moreover, having their own token allows the platform to create a self-sustaining ecosystem, where users are incentivized to stay and engage. This not only boosts user loyalty but also helps establish credibility in a competitive market.

I don't usually gamble but this is the famous one but don't have idea what are the terms, you can check and DYOR.
https://coinmarketcap.com/currencies/rollbit-coin/ currently at 200m mc.

I started monitoring the growth of some iGaming coins yesterday, and with the rise of Dogecoin, almost all memecoins and eGaming casino coins are seeing significant increases in the gambleFI hype, where the ROI can be significant.

Honestly, I'm thinking about jumping on this bandwagon, but very conservatively.

Not so much of a profit maker. I once tried using Betfury and even collecting their bonus boxes before until users needs to pay higher to open those boxes. The price have stayed this low for a very long time for their token, but at least the project survives this bear market and seems to have recovered a little.

Congrats to the holders of the token, it must have be a journey waiting and I'm guessing the gamble most of the revenues they get since bear?

It is good as long as the casino that sponsors the token is of high reputation and reliable, because it is known that the token will never go wrong, or that the casino itself will protect funds for the casino's client investors, but at the level of a trader who is going to look for the benefit that is sought with a cryptocurrency or a stock in the stock market, for me that is not the place or terrain to look for such a thing, the casino token can be lent to give benefit to the casino's clients,  it can be given so that the casino uses it for its benefit, that is what should be seen, but if it is a token that is going to be launched on a good exchange, then that means that there will be a very good future.

Reliable and reputable casinos provide good services to their customers. But when a reputable casino starts issuing tokens, it somehow deviates from the good path it was on. I will give an example of the BFG token. I am not here to badmouth the casino, don't get me wrong. The casino that owns the BFG token is operating very well and I have no problem with the casino. But the BFG token does not go up much in price. Let's see the following:

1 year ago the price of the BFG Token was $0.01500 to $0.02416 and today the price of BFG remains the same price

https://coinmarketcap.com/currencies/betfury/


But the price of bitcoin 1 year ago was $26,000 and today the price of bitcoin is $81,000, it was an increase of 3x

So it is much better for people to buy bitcoin, hold it and use it in the casino to play than to keep buying the BFG token

I’m sure there are a fair share of tokens that have their benefits but there are pros and cons to everything right? It takes a reputable casino and token to remain successful with a good track record. If they are all scams they put their business on the line and risk losing clients which is stupid. I don’t think I’ll ever be putting money into casino tokens personally.

Maybe many casinos don't have a good marketing team that will promote the coin? Is there any casino that goes to crypto conferences and talks about their tokens? But in reality, do these tokens bring any real solution to the problems that exist in cryptocurrencies? It's not only the marketing team's fault if they fail to promote the token that brings no benefits other than some gambling bonuses. It's especially hard to increase the value of a token when the casino offers bonuses like a 120% annual return on investment. You can't give away 120% APY like BitFury does and also increase the value of token, that's impossible.

When investors buy casino tokens, the intention is to make money from that token and that's why we keep seeing many investors complaining about a particular token of not doing well in the market. It is good every investor that want to invest in a project take their time to study the project whether investing in it can be profitable or not. Majority of gamblers will keep complaining about how they were not able to make good amount of profits from the casino projects they have invested their money when they all know that casino tokens are not always doing well in the market. Many big big investors are not too comfortable with casino tokens because they know the team does not like spending funds on ads and promotion of the token.

So at the end of the day, whether it is good to invest or not on the Casino Token is dependent on the casino performance.  I understand how you felt since I am also invested on some Casino tokens that are yet to deliver.  Although the platform is still active but their token value tends to depreciate as time pass by due to weak marketing strategy.

As for the pioneer holder of Casino token profiting, I don't mind that because it is the reason why we are invested, to take profit if the opportunity presents itself.

So for me, it is ok for Casino to launch their token, it is of for the pioneer holder to take profit, but it is not ok for the casino to be idle and just let the flow of fate dictate the value of their casino token after people had invested and believe in them.  The project developer should aggressively market their token.  They must do everything they can to bring value to their token because it is the reason why people supports their cause and invested on their token.

We are all disappointed to tokens that don't fly even when its not among those casino tokens. The problem with casino tokens is that there is no other use case for them other than just staking on the casino to receive revenue. Nothing else besides that but when stakers receives their earnings they play them and lost.

I think if a user is an investor of a casino token, he should at least promote the casino himself. I assume the community would promote for its all for their investments.

The crux of these things is that the biggest fear of things when a token is launched is that those who acquire them want to make money, it is somewhat normal, and the casinos that have done it so far mostly take advantage of the same and do not give any profits, I only take one casino apart that has done well and it is Rollbit, for the rest for me it has not worked in any, the best example is Betfury one of the casinos that has disappointed me the most so far , so it does not make much sense to trust the products if they are not well executed.

Creating a casino token is creating and selling shares of a company. Imagine that you are a popular crypto casino but you want more money to invest in marketing, new game development and hiring better talents. You can take a loan but why take a loan when there is another, better opportunity? Create a casino token, then your customers will buy these tokens and invest more money in it. By getting a huge money flow, you now have the capital to invest in marketing, create a new game or hire better talents. Long-term, this will bring back more money. Rollbit is the best example of a successful casino token. They boosted their capital and even managed to make their token more valuable while others usually fail and devalue their tokens.

That needs to be casino concern to see what they can do to increase the volume and have a strong demand to their tokens. That needs to be solved by them so they need to figures out how to gets the right answer or use the different strategy that the other casinos doesn't use. Thinking out of the box will be necessary to comes out with the good results for their casinos so their casino teams needs to create many new ideas.

The casino wants to have more investors that will invest in their tokens but the investors needs to be careful and always research before they decide. They can not just invest in the casino token without they know what is the main function and the benefits that the investors can get it later. The investors wants to make a profit so they must learn more about the project so they can decide it with rights.

The casino can attract attention from the gamblers and investors that playing gambling on their place. But the casino must know that it is not easily to makes the investors curious with their token if they don't have many reasons or benefits why they release their tokens. Maybe the investors will select the casino that have tokens because they can use the token to staking and maybe they can also gets share profit from the casino if that offers is exist. Well, that will needs consideration from each investors because they will have different thing to decides.

I think that best use case for tokens that casinos have created is just getting attention. We have thousands casinos that offer same services, bonuses, games and so on. But those who have tokens, and give them for some activities, definitely going to stand out among competitors. People love to receive something as a gift, for free or for easy activities (but they must understand that such benefits would not have great value). I would not look on casino token from investment perspective. Wont consider to hunt bonuses or do special tasks to receive them either. But, choosing between casino that does not have tokens, and those who have and distributes, I would choose to gamble in second one.

Actually there's benefits given by the casino for those people who use their token, But I don't also think that one could give significant changes since commonly we see that lots of those casino tokens didn't get much decent volume and strong demand. Its like they are been left out in the scene and people doesn't give much attention with those things.

If people really interested to invest with casino token better if they choose the best and for sure we can see the overall stats since that mean they are more ideal choice to place their money. But again take proper precaution since we know that everything is risky together with those type of token since sometimes we cannot rely on how successful their casino is since demand and investors approach always dictate the possible future of those tokens.

And that's why I say that players should be selective in choosing which token they want to buy, since not all casinos have good tokens, either because their team doesn't do a good job in promoting the token, the casino's operations are declining, etc. Let's take an example, RLB (Rollbit token), since its initial launch it has increased significantly up to 1900%, that proves how RLB is trusted by users and investors and how the Rollbit team consistently promotes this token to attract people to buy this token. These are the things that players need to see before they buy tokens launched by the casino.

I don't know what new ideas that the casino can provide. The casino needs to find it by themselves from research and seek for more. Maybe deposit bonuses will be good for those who hold their token but that will be more than that so the casino can also gets more benefits. The important is the casino know how to attract more visitors from offerings their tokens because the investors will get more benefits if they invest in their token. That is what the investor wants as they want to have return from what they invest.

I like what CZ Binance has been able to achieve using BNB as a native token on its platform. That made BNB very popular as rebates were given to those who traded with it or made any sort of payments with it. BNB price surged with that, and continued to surge till date. It's the same pattern casinos should adopt. Honestly, I see exchanges or sites that don't create a native token to warehouse transactions on their site with it as slacking in business. Even if their site is the only place the token is recognized as a token, it should be okay. The token can grow to acceptability with time. So, I think it's a great idea from casinos that do use their own token.