Topic: What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies - page 7. (Read 1105 times)

It give some benefits for the user like gaining something for using it or there's some returns on each milestone you reach from the casino you are playing. But it really depends on the conditions ask or what is the use of those tokens created by those casino.

But I really don't care much about it since what I feel is that tokens is just been created either to make people engage or gamble more for thinking that they can earn tokens in return.

I'm not a hardcore type gambler and always gamble in moderation that's why earning tokens or acquiring it is not actually my main priority since there are more better coins to choose rather than casino token which the price is declining.

There are some casinos that I use that also have their own tokens but when playing there I don't really care about the tokens. You could say I ignore the token feature and focus on the coins that I always use to bet. Personally I don't mind the purpose of the casino, maybe they want to take the first 2 advantages of the casino and also from the tokens that are launched. Even until now there are casinos whose tokens have not been listed on any exchange and are only useful as a return on the amount played by gamblers then the tokens can be bet the results of the staking can be claimed in the form of BTC, ETH, USDT etc according to the coins available.

I don't care about casinos having their own tokens because those tokens are not very popular. Although some casinos have increased the value of their tokens, there are many casinos whose tokens have no value at all. I found out about betfury a casino token on this forum I don't think anyone has been able to profit with that token. Although some initially said that these tokens would become more attractive in the long run, it did not and instead lost its value. Investors are sitting in the way. Most Casino tokens have almost the same situation. In the long run tokens become worthless because they have no use case.

Casino tokens is not actually a new thing. Ive seen them on most popular casinos where I signed up. The truth is that most of these tokens are just to be used on the casino it's self and you might not find them listed on any exchanges. I don't even bother using them except it was given to me like a bonus or something on the casino. Their values most times are very low as they have very little investors who buys them.
For me i haven't bought Any casino tokens before but have used some which were given to me as bonus on the casino. I just won't want to play on a casino that might make it a compulsory currency in other to use their sites that would create limit and reduce the amount of players on their sites.

I like it when a casino has its own token that we can stake for rewards, and in some cases, we can gamble with it. I guess we can say they are worth it, especially if you have a lot, the best part is that you don't have to buy them... if you like to gamble just play and you will get them, more playing/wagering more tokens you will mine.

BC.Game announced their own token, so they will have it as well. If they are going to do like some other casinos, it will be good to mine from the very start. Generally, the cost of mining is low in the beginning (we need to wager $x to get 1 token), and as the levels go up we need to wager more to get the same amounts of tokens.

As a custom token to access the features of that casino it's a great option. Usually it's a key to unlock perks and bonuses and allows instant transactions on the website (a couple of coins can do this too). I've used a couple of casino tokens to play on the site and keep using some till now.

There are people who use it as a sort of exchange. They buy the tokens and convert it to BTC or any available crypto, then withdraw that along with their winnings from the casino.

If you're asking if I'll invest in such tokens, I do not think so. I've not quite seen their value outside the casino except that plan to expand into other niches.

IMHO, if you are using that casino and they've released that then I think that it's worth it for you to take some. Or, you'd surely be eligible to get one if they are going to distribute an airdrop through their own factors of eligibility.

I would recommend them if they are personally used by me and I'm able to make some money through their token. But they're like the typical business that we know in the grocery stores, having their own points and card system.

Most of is are giving incentives but you need to earn that. While these tokens, it's two birds with one stone, you gamble on their casino and you get that token at the same time trade on its trading market while getting its perks.

It’s just contradicting to the casino you are promoting that you didn’t explore it by yourself since Rollbit has its own utility token.

Utility is good if casino will use it the way it was intended together with its feature. Casino generates good profit consistently which makes casino token should be the one who prosper the most if people understand well it’s fundamentals rather pure price speculation.

The two casinos that I have used that have their own tokens are Betfury and Rollbit, and these two tokens are not only being used in the casino but can also be bought and held just like any other token in the market. 
 
Even as I make use of this casino, I have not tried using their native token; it's either I deposit with my USDT or any other crypto of my choice that I have available at the moment.
 
But for the token use, I believe there are some advantages that will be given to those who make use of the token in the casino, maybe some bonus points for them or anything that can just contribute to increasing the high demand for the token.

The only one I was ever interested in was Rollbits token, afaik it was only used for something similar to VIP benefits? E.g. using that coin could bring more bonuses or has more bonuses, not sure about it specifically but it was something along those lines. That, or I'm thinking of their NFTs but even if it was, honestly don't think it's that far off, pretty sure they'd be bringing in similar types of value.

Honestly, I don't think they're that good nor worth buying and/or holding, the coin itself usually falls off during the start, not sure how it stabilizes itself, if it actually could, but anyway, if you're trying to fish for bonuses and the like, then I guess it's okay to use them? Value might drop if you hold them in our account though so I guess that'd be one thing I'd watch out for.

The first signature campaign that I participated in the forum in 2022 was Betfury signature campaign. Campaign participants as of then was paid 50% in bitcoin and 50% in BFG token which was own by Betfury. You gamble with BFG in the casino.

BFG token is not only used by Betfury but it is also in the market and exchanges have them in their coin list. The value of BFG token is 0.020918usd and with time this token might increase in value because the price was not as high as this in 2022.

I didn't bother to hodli my own token because I never believed that it will increase in value so what I did was to convert them to bitcoin because I don't gamble in their casino.

I'm not really into those gambling site coins.  I get that they might give you some special deals or whatever if you own their tokens, but honestly, it makes me skeptical.  What if that place goes under someday? Then your tokens become totally useless.  No thanks - I'll stick to the bigger, more established cryptos.  Bitcoin's been around for some time already and everyone knows what it is.  Ethereum too and  at least I know those arent going to just disappear because some online casino went bust.  More boring maybe but also safer.  I'm all about playing the long game with my investments, not taking big risks.

it's primarily a marketing strategy that also comes with added advantages like lesser transaction fees and creating ease of use for most users. Casino platforms like rollbit , betfury and roobot casino has it and depending on your preference, you can choose to gamble with thier token. In some way, it mostly appears as though they are being over dominating and wants you to not only bet with them but to also make use of thier token which might not go well with some people. Others would just prefer to stick with the regular and popular coins like Bitcoin and the other altcoins they probably already have in Thier wallet.

In my opinion, I don't see any advantage when a casino creates its own token, because the price of the token doesn't go up much, and then there's the problem of the casino not being able to list the token on the big exchanges. I've been saying this for many months that these casino tokens should be seen as stablecoins by people. I say this because the price of these tokens only gives profit to those first people who bought early, then the price of the token stagnates as if it were a stablecoin. The saddest thing about this is seeing so many people creating high expectations about the price of a token that hasn't seen any significant increase for months, even when all the altcoins are rising.

One day I asked a thread about a casino that has a token, and I asked the following question:

When will the token be listed on Binance, since the token has been around for over 3 years and is not listed on the big exchanges?

I was ignored, I waited months and asked the same question again and again I was ignored and I don't even see the casino representative talking about the possibility of listing the token on the big exchanges, the creators of casino tokens will not put the tokens listed on big exchanges because the price would probably fall and the real price would be seen.

I have a profitable experience on two of them. I was a bounty participant of Betfury when they launched their bounty campaign, and I received my rewards with their native token, my biggest regret was selling it too early; I should have staked them all and earned residual income. BFG token was doing great in the market, and it's still doing great now; another was Owl Token, which had same experience; I dumped it all when they were losing their reputation.

Token-based casinos are good if the casino is doing well and maintaining its reputation in the gambling industry; you can usually stake your token for profit, and it's like hitting one bird with one stone if the token is doing well in the market.

I just wonder why other top casinos do not have their token when there is a market for this token because it is attached to a working platform.

No problem with that because they are free to use their own cryptocurrencies. But it is better if they have the default coins like other crypto casino because people will familiar with Bitcoin or ethereum or other coins.
Usually, they will use their own crypto for staking and offers their members to stake their coins on that casino so they can get some return. Worth it or not, that will depends on each members because if they thinks they only wants to playing gambling, they will not care with staking or other programs.
That feature can be offers on the casino and gives more values to their members to have some return by staking their coins. But casino can asks about this to their members so they know what their members answer.

Actually, this has been around for some time, in one of the gambling sites that I use also has it, even at the beginning of its mass adoption they distributed some number of coins to each account.
If we talk about the benefits, maybe for us as gamblers we can't get it that significantly but for the gambling site itself can get more benefits, but that the real goal.
Gambling sites want to be able to introduce their names to crypto users more widely and of course this is form of promotion that is quite promising, if it runs in the long term then it can be one of the truly successful developments.
It just that for gambling and deposits or withdrawals I don't really like the original tokens that gambling sites have because it might cost more and take longer, stable coins are the main choice.

I don't agree with you, because i don't see that happening with Rollbit's token, this token has experienced good improvements since it was first deployed. Relevance also cannot be used as a benchmark, because we know the crypto market moves according to the current narrative. As long as there is a good product, it will be difficult for the token to lose its value. Or maybe i lack references for gambling platform tokens, can you provide other references that you say are not good if held in the long term?

I have more confidence in reputable casino token than memecoins and some other cryptocurrencies created by random guys without any product backing them other than worded fantasies that often vanishes the moment they have raised funds. Even though their have been reports of altcoins failing at an alarming rate, there is little record of the failure of reputable casino token failing. This is because the casino will support their token and protect the price because if the token fails, it will affect their reputation. Besides, there are many ways the casinos make the token useful that will create the demand for them.

I have come across some online casinos with their own cryptocurrencies before, but I have no involvement with them, so for me, it's not a new concept. From what I’ve observed, there are potential benefits to using these casino-specific coins, such as faster transactions, lower fees, and exclusive perks. However, some of them seem like just marketing gimmicks. I still prefer to play at casinos where Bitcoin is widely used.