What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies - page 3.

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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.

Investing in casino tokens is similar to purchasing chips for gambling. Their major buyers are gamblers, and it'll be hard for a player to hold some assets that enables gambling. Hence, the growth of that token would be mostly static, as investors lavish their holdings. However, they'll be money to make through the token, also, the house wants to partake in cryptocurrency development as a byproduct.

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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 arent 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.

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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.

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...

I personally think that investing in crypto casinos is risky because most of them have failed, the only token that performed well is Rollbit Token. I think that you should be careful, if you are sure that the casino that created a token is a good casino that is really focused on development and marketing, then investing in such a casino's token can really generate back a good profit but most of the time, casino tokens don't generate an ROI for users and they are for gamblers to get more fun by getting interest on their token but token's purchasing value usually goes down, you only see a higher number of token but lower number of dollars.

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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.

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Quote from: Huppercase on October 26, 2024, 03:47:07 PM

Quote from: btc78 on October 20, 2024, 05:59:51 AM

there's no great result that we can see in their operation now and there are lots of issue about it.

Rollbit is one of the casino that has tokens on their exchange and they offered alot of discounts to their users prior to when the token blew, imagine having the coin before people later fomo, they would have cashout out alot of profits then and even now, the coin is having a market cap of $153m staying at No.320, that's a pretty good performance to me despite that many alts are down from their previous all time and the casino is still fully operational.

The reputed casinos that launched their tokens are still function but there were many that I saw here with different marketing strategies, perhaps they use the influence of the last bull run to pump and dump those tokens and today, they are no where to be found, dead and some of their websites are not functional anymore, it's safe to say those ones are not just failed but scams in my opinion.

This is how should a gambling based token should be on which it isnt really just that something being given by those gamblers who do make out some wagers but also it would really be acting out on having some good utility on which it could really be that used inside the platform or the site itself on which it will really be bringing out that possible interest that will really be that sparked out into those gamblers who havent thought that it is really that something applicable into their gambling experience. Actually Rollbit did make out something which isnt really something you could see on other platforms which does have their own tokens. They are really that utilizing that RLB and not really just that being farmed by wagering but also it does really have some other users on which this is something that looks interesting.
If you do tend to compare about their prices in between other casino tokens then you will be able to see the difference.

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Quote from: Huppercase on October 26, 2024, 03:47:07 PM

Quote from: btc78 on October 20, 2024, 05:59:51 AM

there's no great result that we can see in their operation now and there are lots of issue about it.

Rollbit is one of the casino that has tokens on their exchange and they offered alot of discounts to their users prior to when the token blew, imagine having the coin before people later fomo, they would have cashout out alot of profits then and even now, the coin is having a market cap of $153m staying at No.320, that's a pretty good performance to me despite that many alts are down from their previous all time and the casino is still fully operational.

The reputed casinos that launched their tokens are still function but there were many that I saw here with different marketing strategies, perhaps they use the influence of the last bull run to pump and dump those tokens and today, they are no where to be found, dead and some of their websites are not functional anymore, it's safe to say those ones are not just failed but scams in my opinion.

The truth is - it is hard to sustain the interest of the players in utilizing the casino token. So if the casino is indeed good in marketing their own token, they will really create programs or incentives on where to use their token. Because if they will not promote it, players won't use it because there are a lot more alts which are valuable in the market.

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.

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Quote from: btc78 on October 20, 2024, 05:59:51 AM

there's no great result that we can see in their operation now and there are lots of issue about it.

Rollbit is one of the casino that has tokens on their exchange and they offered alot of discounts to their users prior to when the token blew, imagine having the coin before people later fomo, they would have cashout out alot of profits then and even now, the coin is having a market cap of $153m staying at No.320, that's a pretty good performance to me despite that many alts are down from their previous all time and the casino is still fully operational.

The reputed casinos that launched their tokens are still function but there were many that I saw here with different marketing strategies, perhaps they use the influence of the last bull run to pump and dump those tokens and today, they are no where to be found, dead and some of their websites are not functional anymore, it's safe to say those ones are not just failed but scams in my opinion.

Miles2006

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Sincerely speaking, it all depends on the casino. If the casino makes brilliant move for growth and improvement meaning the token will also make great earn I see no reason why one should avoid. I have not gotten the chance to use any casino coin for my games but I might give it a try sooner or later.

Quote from: LUCKMCFLY on October 26, 2024, 02:32:21 PM

I personally think that a casino with its own coins, tokens, native alts is because they want to make more money, that's very obvious, then they look for that way to get more money

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.

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I personally think that a casino with its own coins, tokens, native alts is because they want to make more money, that's very obvious, then they look for that way to get more money, of course obviously when a coin enters the market it can capitalize much more, but currently you have to know how to do it, for example with all the fundamentals that exist it is not a bad idea for a casino to be able to do it now, because by 2025 it is most likely that BTC will rise and if BTC rises there is already a token that can cause more confidence in investors and that helps, apart from this what is most important is that the token never dies, so they must do things very well and avoid massive dumps, which is very difficult.

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Quote from: Charles-Tim on October 21, 2024, 09:39:08 AM

Most other altcoins are not different because they have zero utility. Only what you can use them for is to gamble with them in investment. I mean their importance is still only just to invest on time and let their price increase and sell just like other coins. I noticed that many of the coins in the past increased significantly but they also fall as usual like other altcoins. Even as bitcoin made it to all-time high this year, the coins are still 3 times or more behind their all-time high.

It's just a way for them to make some extra profits.. as more players are investing in the casino tokens, they also make profits along side. Most of the casino tokens just like jawhead999 said is just a way for them to draw more players into their casino. But to me I still prefer playing with stable coins. Remember we still need to use funds to purchase these tokens in one way or the other and are volatile of which we can make losses. I can't invest in casino tokens but anyone can still choose to use them as we all have our opinions on different things...

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Quote from: Jawhead999 on October 20, 2024, 06:05:08 AM

It almost zero utility if people bought the token and not gamble on the casino that accept that token.

Most other altcoins are not different because they have zero utility. Only what you can use them for is to gamble with them in investment. I mean their importance is still only just to invest on time and let their price increase and sell just like other coins. I noticed that many of the coins in the past increased significantly but they also fall as usual like other altcoins. Even as bitcoin made it to all-time high this year, the coins are still 3 times or more behind their all-time high.

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Quote from: Coin_trader on October 20, 2024, 05:49:46 AM

It runs on crypto blockchain and it’s functions is a utility token of a casino which is similar to the typical utility token that available in the market that people called crypto currency.

Casino token is not a stock since it’s not a security tokens that distribute dividend to token holders. Holding a casino token means you have a share in the casino. It’s main purpose is for utility which the price depends mainly on the speculation of the casino.

Having native token is just a way to make people gamble on your casino frequently than before because they offer more bonus and promotion when you gamble using their token. At the same time the casino and the holders can also make profit if many people bought the token.

It almost zero utility if people bought the token and not gamble on the casino that accept that token.

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My thoughts on online crypto casino tokens is that sometimes they are fun and add extra entertainment to the whole process. For example, these casinos usually offer you very high APYs. In terms of dollar investment, they are not the best choice because these tokens are volatile and usually go down in value but the positive side is that it's gambling, you invest and you get daily some percentage of your investment. For example, you invested $1000 in a token and it generates $3 per day. You gamble with this $3. Even if the value goes down, you still get enough money daily to gamble.
Extra rewards, free spins and other benefits make the gambling process more exciting. For me, this is what matters to get fun, I'm not here for a serious business investment.

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Personally, for the online crypto casinos that have their own cryptocurrencies. I have not seen it on any of my favorite online casino site and honestly, I’m a bit curious about its advantages. As a gambler who is not really interested in gambling with their special cryptocurrency unless it's like stable, surely secure and offers benefits such as interests for holding it, I wonder how useful these casino coins really can offer to convince people to use them rather than other stable coin with better speed transactions and less fees.

I mean, could they actually provide more value than the actual known cryptos ? Are there any special featurs like lower transaction fees even better bonuses, or instantly payouts?

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there's no great result that we can see in their operation now and there are lots of issue about it.

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Quote from: davis196 on October 20, 2024, 02:34:03 AM

I wouldn't call casino tokens a "cryptocurrency". Yes, these tokens are being listed on some crypto exchanges, but they aren't actual cryptocurrencies. They are more like "casino stocks", where the gamblers could buy or earn a share of the casino.
I have nothing against the casinos, that are issuing their own gambling tokens. It's just another way to hook more gamblers into the casino.
I haven't used any casino tokens. I was interested in joining Betfury around 2 or 3 years ago, but for some reason their website was too slow for my browser.

It runs on crypto blockchain and it’s functions is a utility token of a casino which is similar to the typical utility token that available in the market that people called crypto currency.

Casino token is not a stock since it’s not a security tokens that distribute dividend to token holders. Holding a casino token means you have a share in the casino. It’s main purpose is for utility which the price depends mainly on the speculation of the casino.

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Quote from: arwin100 on October 20, 2024, 05:11:26 AM

Quote from: Pmalek on October 20, 2024, 02:41:34 AM

I have never used a native token of a crypto casino before. If I gamble, then I prefer to play with popular coins. Holders of unique casino tokens might gain certain advantages like no/lower withdrawal fees, voting rights, better betting limits, etc. Personally, I don't see much value in such cryptocurrencies because they have no use cases outside of the casinos. It's hard to see any real demand for them, thus they could lose their value quickly.

Same with you since somehow I am worried about the fast price volatility of those token since we don't know if they pump since usually its common for casino token to experience dumps compare to popular coins which we trust that would never have this much fast movement to happen. Usually we can see that usually native tokens of casinos didn't get much demand so we can assume that the casino owners didn't get much doing good to attract investor to get demands that's why it adds up the reason why I really don't want to hold casino tokens due to those questionable things.

But let see in future if there's innovative changes may happen, since so far I only notice that there's only one token in that category is performing well for now and the other tokens if not died it totally drop without any good sign of possible recovery.

Ff the casino grows, the price of the coins associated to that casino can also increase. I mentioned exchange coins in a post before, and BNB in particular. Although many tokens or coins belonging to exchanges performed bad in the past, especially if the exchange wasn't successful (I remember a project calles Spectre, for example, whose dividend and utility tokens went down dramatically in the last years), there are also big winners, so I don't think it would be any different with casino cryptos.

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Quote from: Pmalek on October 20, 2024, 02:41:34 AM

I have never used a native token of a crypto casino before. If I gamble, then I prefer to play with popular coins. Holders of unique casino tokens might gain certain advantages like no/lower withdrawal fees, voting rights, better betting limits, etc. Personally, I don't see much value in such cryptocurrencies because they have no use cases outside of the casinos. It's hard to see any real demand for them, thus they could lose their value quickly.

Same with you since somehow I am worried about the fast price volatility of those token since we don't know if they pump since usually its common for casino token to experience dumps compare to popular coins which we trust that would never have this much fast movement to happen. Usually we can see that usually native tokens of casinos didn't get much demand so we can assume that the casino owners didn't get much doing good to attract investor to get demands that's why it adds up the reason why I really don't want to hold casino tokens due to those questionable things.

But let see in future if there's innovative changes may happen, since so far I only notice that there's only one token in that category is performing well for now and the other tokens if not died it totally drop without any good sign of possible recovery.

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I have never used a native token of a crypto casino before. If I gamble, then I prefer to play with popular coins. Holders of unique casino tokens might gain certain advantages like no/lower withdrawal fees, voting rights, better betting limits, etc. Personally, I don't see much value in such cryptocurrencies because they have no use cases outside of the casinos. It's hard to see any real demand for them, thus they could lose their value quickly.

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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 wouldn't call casino tokens a "cryptocurrency". Yes, these tokens are being listed on some crypto exchanges, but they aren't actual cryptocurrencies. They are more like "casino stocks", where the gamblers could buy or earn a share of the casino.
I have nothing against the casinos, that are issuing their own gambling tokens. It's just another way to hook more gamblers into the casino.
I haven't used any casino tokens. I was interested in joining Betfury around 2 or 3 years ago, but for some reason their website was too slow for my browser.

Topic: What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies - page 3. (Read 1118 times)