What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies - page 2.

Pandu Geddon

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Quote from: Frankolala on October 30, 2024, 09:54:25 AM

Casinos that created their own token did that so that gamblers can convert their funds to the casino token and gamble with it in their casino. I don't think that they are after promoting the token, because the casino is already making huge profits from gambling, and that is their mainstream of getting funds. Maybe, this is one of the reason casinos don't really care about the value of their token being bullish. Rollbit and Betfury have their own token, but it's only recognized using it in their casino, since that was the major purpose of creating these tokens, and not to pump and dump it like the others do for profit.

When tokens are created casinos are given for free to their casino users as a bonus that can be played or exchanged for other crypto, then it makes sense that they don't care about the value of their tokens. but if there are investors there, then it should be important and the obligation of casino developers to think about the value of their casino tokens. such as efforts to list on a fairly large exchange is one of them. they must get big profits from users, it makes no sense if they can't cooperate with certain exchanges.
Some casinos that have their own tokens may start developing features on their platforms such as staking or maybe exchanges. their focus may be divided, but whether such developments make gamblers more comfortable or feel a little difficult.

cabron

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Quote from: Frankolala on October 30, 2024, 09:54:25 AM

Quote from: Wakate on October 30, 2024, 08:57:34 AM

Quote from: retreat on October 30, 2024, 08:00:31 AM

Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

I see that casinos launching their own cryptocurrency is a pretty good thing and profitable for both players and the casino. First, casinos usually provide benefits to players who play using the tokens they launch, besides that players can stake and get profit when the token price goes up. Second, casinos benefit because more people adopt their tokens and play them on their platform, it creates an economic system that can empower the casino. However, it should be noted that not all tokens launched by casinos are good, some are also trash, so players have to choose again which casino tokens are good for them.

It is pretty cool to see gambling platforms having their own native tokens which users can use to bet and make profits for themselves. Apart from gambling using the token, anyone can always buy the token and stake it for as long as possible while earning some profits while holding and playing bets. Most casinos have started launching their own token these days which is a trend that is still on till now while other casinos are not interested in that. One of the problem with casino tokens is that many of the teams don't go extra miles to promote the project and has been making many casino crypto projects to lack the real bullish momentum.

Casinos that created their own token did that so that gamblers can convert their funds to the casino token and gamble with it in their casino. I don't think that they are after promoting the token, because the casino is already making huge profits from gambling, and that is their mainstream of getting funds. Maybe, this is one of the reason casinos don't really care about the value of their token being bullish. Rollbit and Betfury have their own token, but it's only recognized using it in their casino, since that was the major purpose of creating these tokens, and not to pump and dump it like the others do for profit.

Nothing else for its use case and it can't even be listed on big exchanges.
I have been a holder of a casino token for a while I almost forgot to claim the earnings that I should take from the casino but they are just pennies every week. They used to be around $30 a week but that's how the price is now after several years.

The casinos are not finding ways to give a use case for their tokens and investors are left holding tokens with a price of less than what meme coins price.

dansus021

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What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies this just like another DAO type of token that basically same as a stock in real life. Most of the companies ex. Casino or other app create their own token to make dao so people who buy it can have decision to the future app and some of it have community proposal.

Some token only have small benefits usually the app only offer high apy staking and maybe some discount by using their platfrom.

Frankolala

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Quote from: Wakate on October 30, 2024, 08:57:34 AM

Quote from: retreat on October 30, 2024, 08:00:31 AM

Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

I see that casinos launching their own cryptocurrency is a pretty good thing and profitable for both players and the casino. First, casinos usually provide benefits to players who play using the tokens they launch, besides that players can stake and get profit when the token price goes up. Second, casinos benefit because more people adopt their tokens and play them on their platform, it creates an economic system that can empower the casino. However, it should be noted that not all tokens launched by casinos are good, some are also trash, so players have to choose again which casino tokens are good for them.

It is pretty cool to see gambling platforms having their own native tokens which users can use to bet and make profits for themselves. Apart from gambling using the token, anyone can always buy the token and stake it for as long as possible while earning some profits while holding and playing bets. Most casinos have started launching their own token these days which is a trend that is still on till now while other casinos are not interested in that. One of the problem with casino tokens is that many of the teams don't go extra miles to promote the project and has been making many casino crypto projects to lack the real bullish momentum.

Casinos that created their own token did that so that gamblers can convert their funds to the casino token and gamble with it in their casino. I don't think that they are after promoting the token, because the casino is already making huge profits from gambling, and that is their mainstream of getting funds. Maybe, this is one of the reason casinos don't really care about the value of their token being bullish. Rollbit and Betfury have their own token, but it's only recognized using it in their casino, since that was the major purpose of creating these tokens, and not to pump and dump it like the others do for profit.

Wakate

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Quote from: retreat on October 30, 2024, 08:00:31 AM

Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

I see that casinos launching their own cryptocurrency is a pretty good thing and profitable for both players and the casino. First, casinos usually provide benefits to players who play using the tokens they launch, besides that players can stake and get profit when the token price goes up. Second, casinos benefit because more people adopt their tokens and play them on their platform, it creates an economic system that can empower the casino. However, it should be noted that not all tokens launched by casinos are good, some are also trash, so players have to choose again which casino tokens are good for them.

It is pretty cool to see gambling platforms having their own native tokens which users can use to bet and make profits for themselves. Apart from gambling using the token, anyone can always buy the token and stake it for as long as possible while earning some profits while holding and playing bets. Most casinos have started launching their own token these days which is a trend that is still on till now while other casinos are not interested in that. One of the problem with casino tokens is that many of the teams don't go extra miles to promote the project and has been making many casino crypto projects to lack the real bullish momentum.

AbuBhakar

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Quote from: retreat on October 30, 2024, 08:00:31 AM

I see that casinos launching their own cryptocurrency is a pretty good thing and profitable for both players and the casino. First, casinos usually provide benefits to players who play using the tokens they launch, besides that players can stake and get profit when the token price goes up. Second, casinos benefit because more people adopt their tokens and play them on their platform, it creates an economic system that can empower the casino. However, it should be noted that not all tokens launched by casinos are good, some are also trash, so players have to choose again which casino tokens are good for them.

Technically, your comment should be the one happening but in reality there’s casino token so far becomes successful for increasing the price consistently long term since casino doesn’t pursue constant buy back and also they only use small percentage of casino profit for buy back while they use the tokens 100% for promotion rewards.

There’s a lot of token flooding the circulating supply while there’s no liquidity backing it to absorb the sell pressure from holders who get it.

Most of the casino token holders end up as exit liquidity for those user that receive token from casino bonus and immediately sold it. It’s much better to get casino rewards in liquid assets instead of casino tokens that doesn’t backed by good liquidity.

Yucky

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Quote from: retreat on October 30, 2024, 08:00:31 AM

Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

I see that casinos launching their own cryptocurrency is a pretty good thing and profitable for both players and the casino. First, casinos usually provide benefits to players who play using the tokens they launch, besides that players can stake and get profit when the token price goes up. Second, casinos benefit because more people adopt their tokens and play them on their platform, it creates an economic system that can empower the casino. However, it should be noted that not all tokens launched by casinos are good, some are also trash, so players have to choose again which casino tokens are good for them.

True, it has its benefits and disadvantages. I don't have issues with a casino launching their token. What I'm more concerned about is the value of the token. It should have enough value so that when gamblers use it, they get good rewards, not dust.

The joy in playing with a casino that has its own token in when you are sure the token's value is worth it. If the token has good value, it benefits the gambler. Happy gamblers will return to the casino more often to play with the token - buying, and stacking with it. This, in turn, benefits the casino.

My main point is the value of the token, that's what truly matters.

retreat

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Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

I see that casinos launching their own cryptocurrency is a pretty good thing and profitable for both players and the casino. First, casinos usually provide benefits to players who play using the tokens they launch, besides that players can stake and get profit when the token price goes up. Second, casinos benefit because more people adopt their tokens and play them on their platform, it creates an economic system that can empower the casino. However, it should be noted that not all tokens launched by casinos are good, some are also trash, so players have to choose again which casino tokens are good for them.

ultrloa

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Quote from: Blowon on October 30, 2024, 12:08:06 AM

Of course there are pros and cons for casinos that have their own currency, the plus is, we can use the token to get passive income with available features such as staking, and sharing, the minus is that most casinos use their tokens to pay for promotions, that's why the tokens tend to dump often

Well that's additional benefit especially for those people regularly gamble in their casino. That's why its important to know every details and additional benefits if we used their native token, since there are random casino just create a token without having a use case or the dev is so lazy to release an update that can help their token.

To bad if we fall for those since for sure that our money will sleep more longer especially that common for those token that doesn't get much pump the same as other casino token exist nowadays.

So we select the best and always read further more details also feedback so we can avoid those potential scam casino tokens.

bakasabo

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Quote from: ethereumhunter on October 30, 2024, 05:38:41 AM

Quote from: Blowon on October 30, 2024, 12:08:06 AM

Of course there are pros and cons for casinos that have their own currency, the plus is, we can use the token to get passive income with available features such as staking, and sharing, the minus is that most casinos use their tokens to pay for promotions, that's why the tokens tend to dump often

If the token can have more benefits for the investors, that will helps the investors to have the profit. Maybe the casino needs to thinks about adding more features to their tokens so that can gives more benefits to their investors. That can also attracts more attention from the other investors because they will see many good things from the token for them. That is why casino needs to thinks about new ideas that will different than the other casinos so they can promotes their tokens as the best tokens that the investors and gamblers can have.

What new ideas can casino provide despite distributing tiny part of their daily income and it might be necessary to hold a specific amount to level up casino account and get bonuses? Maybe casinos can give deposit bonuses for those who hold their token on the casino site. But that is a little bit unfair, because deposit bonuses often have obligatory to wager to keep them, and this time gambler needs not only to risk while wagering, but also spend money on casino tokens to hold.

ethereumhunter

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Quote from: Blowon on October 30, 2024, 12:08:06 AM

Of course there are pros and cons for casinos that have their own currency, the plus is, we can use the token to get passive income with available features such as staking, and sharing, the minus is that most casinos use their tokens to pay for promotions, that's why the tokens tend to dump often

If the token can have more benefits for the investors, that will helps the investors to have the profit. Maybe the casino needs to thinks about adding more features to their tokens so that can gives more benefits to their investors. That can also attracts more attention from the other investors because they will see many good things from the token for them. That is why casino needs to thinks about new ideas that will different than the other casinos so they can promotes their tokens as the best tokens that the investors and gamblers can have.

alastantiger

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Quote from: Zigabel on October 28, 2024, 11:41:06 AM

Some times it could be for promotional purposes, it may not be really about gathering funds because most definitely there are other tokens on the gambling platform that can be used but then there will be a different flexibility that will come with the casinos token so most persons will be using it so as to get that flexibility but in terms of withdrawal they convert to what is obtainable outside their platform.

When it comes to rewards to gamblers being paid in the native tokens of the casino, I feel casino do this so it reduces their expenses as they don't want to send the winners of the rewards Bitcoin or stablecoin, they prefer to send them minted tokens that didn't cost the casino much to mint and it won't affect their reserve money. The tokens don't also hold their values and later drops, making the customers to lose when they didn't sell earlier but decided to holdl thinking the tokens will get more value later. Don't buy casino tokens as an investment but you can invest directly into the casino if they offer such packages. Casino tokens aren't like Bitcoin or other better investing altcoins that you can be certain, you'll make profit when you buy them early. I don't support casino tokens, I might have supported them back then when I didn't have the knowledge that I possessed right now.

Blowon

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Of course there are pros and cons for casinos that have their own currency, the plus is, we can use the token to get passive income with available features such as staking, and sharing, the minus is that most casinos use their tokens to pay for promotions, that's why the tokens tend to dump often

LUCKMCFLY

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Quote from: Miles2006 on October 26, 2024, 03:14:09 PM

Definitely, every casino want to make money but the word extra money is understandable, a player can also earn if the coin is worth it. Some casino with a different mindset just want the best for their site and for the fact most casino own a coin they follow suit but if you observe carefully they work hard making sure this token grow meanwhile some create for just self profit nothing much, that’s why it’s optional.

It is a fact that things are like that, only the market as such is very wild, it is like a jungle, everyone saves themselves as they can and can take what is within their reach, this undoubtedly leaves each person thinking, I am one of the people who believes that a casino that is reliable I fully trust its token, because I know the reputation and I know how good the casino can be, but even so we must have a degree of distrust so that things can be better, nothing is certain, we must start from there, and if we have a token from a casino with a very good reputation I would make the effort to buy, but I would sell when I obtained 30-40% profit, that would be my premise.

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Quote from: Zigabel on October 28, 2024, 11:41:06 AM

Quote from: bakasabo on October 28, 2024, 06:53:48 AM

Quote from: shield132 on October 28, 2024, 06:28:22 AM

Crypto casino tokens are a way for casinos to gather large funds quickly and increase their capital. This money that they collect by creating coins and letting people invest in, is usually used by a casino to invest in the product, to create new games, hire a better team or new members, to create a new project, new sponsorship, improve marketing and etc...

Never thought that casinos gather large funds through their tokens. For me they always looked like small addition to casino, or a form of a additional reward. Very, very rarely I see people who buy casinos tokens on purpose, to deposit them and gamble. Whenever I check casino tokens trading volumes and circulating supplies, they aren't usually high. From casinos, I expect more to focus on gambling, then being an investment project, because it is impossible to sit on two chair simultaneously.

Some times it could be for promotional purposes, it may not be really about gathering funds because most definitely there are other tokens on the gambling platform that can be used but then there will be a different flexibility that will come with the casinos token so most persons will be using it so as to get that flexibility but in terms of withdrawal they convert to what is obtainable outside their platform.

I would believe more that casinos own tokens are only for promotional purposes, instead of using them only sometimes. Since gambling is a profitable business, why would a project issues tokens, spend money on turning this token into something really valuable, if not only for promotion or reputation purposes. Doubtfully that casino would focus so much on its token on purpose, when their primary source of profit is gambling, and market is full of altcoins.

KiaKia

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Quote from: alastantiger on October 26, 2024, 04:26:36 PM

Quote from: AmoreJaz on October 26, 2024, 04:04:53 PM

This is why as of now, you can only count with your fingers the known casino tokens - fun token, BFG and RLB. Maybe there are others, but those 3 that I know of that are still very active as their sites are also active.

No more please as there's no use for the tokens from the casino. The casinos should focus on giving us better games to play and a better experience on their casinos. There's no need for their tokens, if they want to reward their customers, they should do it in Bitcoin. Having tokens can distract them from providing a better service as they'll have their minds divided with operating the casino and making their tokens to be worth something and not getting dumped as many others tokens are getting dumped.

Before anymore casino introduce their own tokens, they should look at other existing casino tokens to see how they're doing. Gamblers aren't interested in investing in tokens or trading them but are only interested in how they're going to win their bets.

I know many people don't like casino tokens but if the online casino offers some stock like investment on their company this is a good way of earning revenue from time to time, it is not really that bad, and most importantly these companies don't create those tokens for gamblers, they are created for long term believers of the company, investors to be precise.

The fact is when the real bull market comes back and altcoin season kicks off all these so hated altcoins will pump massively ,many people beat themselves for missing rollbit, it was one of the few casino ALTs that pumped massively last year, I wouldn't underestimate these coins if I were you, just make sure the token isn't just an empty token, it must be well put in place in terms of utility.

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Quote from: bakasabo on October 28, 2024, 06:53:48 AM

Quote from: shield132 on October 28, 2024, 06:28:22 AM

Crypto casino tokens are a way for casinos to gather large funds quickly and increase their capital. This money that they collect by creating coins and letting people invest in, is usually used by a casino to invest in the product, to create new games, hire a better team or new members, to create a new project, new sponsorship, improve marketing and etc...

Never thought that casinos gather large funds through their tokens. For me they always looked like small addition to casino, or a form of a additional reward. Very, very rarely I see people who buy casinos tokens on purpose, to deposit them and gamble. Whenever I check casino tokens trading volumes and circulating supplies, they aren't usually high. From casinos, I expect more to focus on gambling, then being an investment project, because it is impossible to sit on two chair simultaneously.

Some times it could be for promotional purposes, it may not be really about gathering funds because most definitely there are other tokens on the gambling platform that can be used but then there will be a different flexibility that will come with the casinos token so most persons will be using it so as to get that flexibility but in terms of withdrawal they convert to what is obtainable outside their platform.

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Quote from: Davidvictorson on July 27, 2024, 05:20:03 AM

I am learning today that some online crypto casinos have their own cryptocurrencies. I have not seen it on any of my favorite online casino. Just very curious about it. What do you guys think about it. Any experience benefit in using them? Are they worth it. Do you think it's a feature worth recommending to your favorite online casino? Share your insights and opinions in the comments below

Thank you.

They are worth it in the case you plan to keep a substantial quantity of those token in your wallet in the long term and you trust the utility of them within the casino will continue to grow through time, attracting new investors, more volume, more liquidity and making the value of those tokens to increase through time. I rather see casino tokens and coin as some kind of security or share which is not properly registered in any jurisdiction. That is why you don't see major regulated casinos issuing their own tokens or cryptocurrencies nowadays, they do not have much to earn from it and they are already making a lot of money by their normal gambling volume.

I could also see some utility on those tokens if one is specially fond of a single casino and wants more benefits while engaging with such platform, otherwise, I would not recommend anyone to invest in them. Though, one needs to give some credit to gambling tokens/coins, they are more useful than the usual Shitcoin and memecoin one could encounter in the market.

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Hey there! It’s awesome that you’re curious about online casinos having their own cryptocurrencies. At Goated.com, we believe it’s more than just a trend—it’s a way to give back to players and build a strong, engaged community.

We’re actually about to launch our token very soon, and we’re doing this specifically to reward players for their loyalty and contributions. The token will come with a host of benefits, from on-site perks to staking rewards, all designed to ensure that players like you get even more value from the platform.

I’ve posted a thread with more details, so feel free to check it out! If you’re interested in being rewarded for your play and engaging with a crypto-native casino, our token might be exactly what you’re looking for. I’d love to hear your thoughts after you take a look!

— Goombas Grin

Akbarkoe

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This is a new innovation, the casino issued its own token for the growth of the casino ecosystem, but the question is, what is the important utility that the casino token owner can get? Because it has to be a serious study, why do people have to buy the casino tokens? If I say a gambler on his casino, what is the benefit that we can get specifically in his head, because if it is only a staking feature, we can get it on a special staking network in Tokens or other coins that focus on building staking services, as a whole are quite good because they build it very well for the benefit of their and their community.

Topic: What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies - page 2. (Read 1113 times)