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Topic: What Are Your Thoughts on Online Crypto Casinos with Their Own Cryptocurrencies - page 8. (Read 1113 times)

hero member
Activity: 1120
Merit: 554
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From what i read, their token offers features like a lottery which can only be participated in if we stake the token, isn't this an advantage in itself?

It’s just a benefits but you should weigh in the token price performance because your holding value might decreased a lot compares to the amount you can gain by holding this token through it’s benefits such as the lottery reward that you mention and other feature.

Most of the casino utility token performs very poorly after few months of release because the relevance in the market is already vanishing. I would say holding it long term is not really profitable because it’s utility was mainly designed for rewards.
hero member
Activity: 1484
Merit: 597
Bitcoin makes the world go 🔃
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.

Casino own token is way of casino to share profit with token holders. Casino usually do buy back feature and other bonus given to token holders in exchange for being a loyal token holders.

So far, Most of the casino tokens is just performing fine but doesn’t give insane profit since it usually serve as reward token as main utility. This tokens is beneficial for the community but never bring good returns for late token holders since there’s a consistent inflow of new token on the circulating supply coming from the token vesting.
sr. member
Activity: 336
Merit: 258
An Sr. Member who wants to become a ₿ maxi
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.

After being part of Rollbit's signature campaign, i learned a lot of things from there to be a good representative on this forum. One thing i learned was about their tokens, of course their native tokens have their own advantages, it is impossible for them not to provide benefits to the native ecosystem. From what i read, their token offers features like a lottery which can only be participated in if we stake the token, isn't this an advantage in itself?
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
If they use their free cryptocurrency for incentives and bonuses then I think it's fine. However if there's heavy pressure on users to buy their tokens then it's very suspicious. Many casinos that used the token scheme went bust in the past, it's nothing new. So I wouldn't put serious money into such scheme.

So especially if a casino's finances depend on their token it's not going to be a healthy place to deposit any money at. See Celsius and FTX to have some forethought on how this could end. So in my opinion, unless a casino is put together with a token scheme carefully from experts in tokenomics, accounting etc. it's something to not invest/buy/deposit anything serious in.
hero member
Activity: 952
Merit: 662
Native token is one way to give incentive, reward, and promotion for the gamblers, at the same time the casino also making money if the gamblers buy the native token. The bad thing of native token is the value completely depend on the site, if the site turns scam, the token will become worthless.

I'd say native token is good for short-mid term especially if you bought/claimed the token when the casino was really new, then sell it when the casino has a good reputation.
member
Activity: 134
Merit: 94
The Alliance of Bitcointalk Translators - ENG > TR
I don’t like them. It looks fishy. These are not even crypto currencies. They are casino tokens and they don’t have any other use case. If a casino doesn’t like the high transaction fees of btc, it should implement a solid altcoin like litecoin or/and dogecoin. I can respect a casino that uses alts because that’s the right way to fix this problem. If a casino is coming up with its own token, I can only think they want to rip their customers off. I don’t see any other explanation.
legendary
Activity: 1652
Merit: 1208
Gamble responsibly
We have some casinos on this forum that has their own tokens. You can see some on this thread: What are your expectations for Casino coins in this coming bull run?. I think the replies on this thread would be similar to the replies on thread also.

I do not go for gambling site tokens. Some increased in value in the past though but I prefer to be careful of many altcoins.
hero member
Activity: 1190
Merit: 901
Livecasino.io
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.
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