What impact does the BTC price have on your gambling habits? - page 4.

BChydro

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Quote from: bitbollo on November 09, 2023, 10:43:35 AM

~
Did you play more? Did you play less? Any thought or opinion on that?
Feel free to add your answer on my survey

I am not compulsive enough to place a bet looking at the overall price of bitcoin. If the mental frame is good enough to wage some bets, then it does not matter what the price is as long as i am holding the coins. For new users who are placing a bet, price is a factor, the more price the less coins you can gamble, not the case if you are holding the coins Wink

.

TelolettOm

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Quote from: Gozie51 on November 09, 2023, 02:26:50 PM

Even in such times of high fees either because of volatility or something else and casinos increase their transaction fees to their platform , what you can do is to convert your transaction coin to stable coins like either usdt and that will reduce the fees to 1$ which will be very cheap compared to transacting directly on the coin without conversion. It is easier that way than doing a direct transaction with high landing fees.

It really makes sense.
As long as the casino provides an alternative to using other than Bitcoin, then this can be taken. Especially if, for example, we feel that transaction or transfer costs are higher during an uptrend like this, then we have to be smart in looking for alternatives, right? Maybe Bitcoin is the most trusted and there is no doubt about it, but if we are already on the platform and know several alternative coins, why not try it? unless there are no changes in fees or anything else. but usually it's better to choose stable coins.

BitDane

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Quote from: bitbollo on November 09, 2023, 10:43:35 AM

Dear fellow gamblers, as title topic said, I have a question/survey for you!

What impact does the BTC price have on your play (gambling both in casino/sports betting/binary options etc)?

I don't think that Bitcoin price have an impact on my gameplay since I always use a fix bankroll in USD when I am playing. This bankroll determine how long I will play on the casino. If it gets depleted easily, I stop playing and if I am lucky, I am able to play several hours with winnings in my hand.

Quote from: bitbollo on November 09, 2023, 10:43:35 AM

Did you play more? Did you play less? Any thought or opinion on that?

As I stated the time spend in playing in my gambling activity is dependent on how lucky I am on that session. I always put a fix amount in my bankroll so whether Bitcoin price is higher or lower does not affect my gambling activities.

oktana

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I think this question is incomplete. There’s no way to tell if one plays more or less when the direction of Bitcoin price change is not specified. My suggestion for active gamblers who gamble on platforms that use Bitcoin, have a budget that is tied to dollar and not a specific amount of Bitcoin. Deciding to set your limit at $30 a week is better than the defining it in Bitcoin because Bitcoin price appreciates over time, and so if you were to lose, you won’t lose more than $30 when the value of Bitcoin is higher.

Baofeng

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Quote from: Assface16678 on November 09, 2023, 06:35:51 PM

Well like others say here, nothing becauss I still play the allocated amount that I usually usef to gamble, for example in every session I only use $100 worth of BTC if I'm playing in a crypto based casino, then even the BTC price changes I still will used $100 worth of BTC so nothing changes, I still will follow my limit in gambling, but of course if the price moves I will choose not to gamble at all, because I will be focused on doing trade at that time. I only do gambling is the BTC price is calm or minimal movements. But yeah in summary nothing changes in my gambling habit it will still be the same. Maybe the the impact of Bitcoin price movement will be in other aspect like in trading or such but in gambling I'm sure gamblers will not be affected to it, as you will only spend the assets you have.

Yeah, if you allocate $100=x the amount of bitcoin there's nothing to worry about. However, maybe there are gamblers that might think to completely stop using bitcoin specially when the price is high or at least they want to hold it for the meantime and see how goes.

I think I might have done it way back in 2017, as it is my first time to see a bull run so I just stop using Bitcoin for good for my gambling activities. Besides that time the fees is too high so it's better to just used altcoins. But let's see, the price right now is also high and so is the fees. So it's better at least for me to used other crypto for the meantime so that I won't spend too much on tx fees.

Oilacris

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Quote from: danherbias07 on November 09, 2023, 06:17:32 PM

There's really no change. Nothing.
I am still playing the same amount not less not more. The change is in how much Bitcoin I input at every deal. Let's say I am using 200 satoshis for every round in casino games, now I am just using 100 satoshis because of the higher value of Bitcoin today. But when it comes to the amount of gambling hours, I didn't change anything, I am just more careful because I really want to win so that I can withdraw it if the planned amount of withdrawal is reached.

The same thing with my sports betting. I divided the amount that I was betting in 2 because I didn't want to get rekt easily as my main purpose was just to add more fun and be more entertained while watching the game.

The only things change is that on the fees involved on which we know that it is already that high and this is something that would hinder you on making some transactions but in overall
it is really just the same specially if you are really just making use of your Bitcoin which you would be always pertaining into its USD value. Yes, the amount of bitcoin would really be that less if the price is high and more if its low then it would really be just that according or depending on you on which one you would really be sighting whether you would really be applying some investment
approach or would really be just basically be spending those coins totally and dont care at all.

dothebeats

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There's none. I still gamble no matter what the price of bitcoin is, although of course I won't be using bitcoin and switch to another crypto that I still have. If that isn't viable, I'll go ahead and use fiat and just play in a local casino. Recently, I find myself using fiat more in sports betting and I'm doing okay. Most of my crypto gambling accounts no longer have funds in them which is why I'm forced to use my local currency. But, if I ever find myself really wanting to play in a crypto casino, it's easy to buy XRP and deposit in a gambling platform then I play away. Fees are great, plus the transfers are fast, too.

Assface16678

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Well like others say here, nothing becauss I still play the allocated amount that I usually usef to gamble, for example in every session I only use $100 worth of BTC if I'm playing in a crypto based casino, then even the BTC price changes I still will used $100 worth of BTC so nothing changes, I still will follow my limit in gambling, but of course if the price moves I will choose not to gamble at all, because I will be focused on doing trade at that time. I only do gambling is the BTC price is calm or minimal movements. But yeah in summary nothing changes in my gambling habit it will still be the same. Maybe the the impact of Bitcoin price movement will be in other aspect like in trading or such but in gambling I'm sure gamblers will not be affected to it, as you will only spend the assets you have.

iv4n

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Most slots have a minimum bet of 10-20 cents, and my max bet is $1. So I always play the same, but when the BTC price rises, then I spend less BTC for the same plays, which is good I think.

I guess most of us have the amount we can afford to spend for gambling, and I can bet that amount is dollar/euro equivalent. So we don't change our gambling habits, but we change the amount of crypto we are ready to spend for gambling. So when the price of crypto is dropping we deposit more, but when it's rising we deposit fewer coins.

Ruttoshi

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I so much value my bitcoin investment and for this I will only play few games with bitcoin because there us a better days ahead of us when bitcoin price will be in the bull run and hit the new ATH, by then I can make good profit from my investment portfolio and increase the amount that i do play with but for now I have limited it.

Although, the rise in bitcoin price is an advantage for gamblers that gamble with bitcoin to have more fun but at the same time, there is a high chance of your losing your bitcoin and that us what I am avoiding for now. It is good to have a fixed amount that you use in gambling no matter the increase in bitcoin price and vice versa.

danherbias07

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There's really no change. Nothing.
I am still playing the same amount not less not more. The change is in how much Bitcoin I input at every deal. Let's say I am using 200 satoshis for every round in casino games, now I am just using 100 satoshis because of the higher value of Bitcoin today. But when it comes to the amount of gambling hours, I didn't change anything, I am just more careful because I really want to win so that I can withdraw it if the planned amount of withdrawal is reached.

The same thing with my sports betting. I divided the amount that I was betting in 2 because I didn't want to get rekt easily as my main purpose was just to add more fun and be more entertained while watching the game.

bluebit25

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Perhaps gambling behavior may or may not depend on bitcoin volatility.

Personally, I always separate them and don't see any connection. I'm not a regular gambler and I'm always ready to spend a small amount of money to find fun with slot machines. It's similar to how we can spend some money to buy packs of cigarettes, candy, bottles of water,...

But perhaps for those who have participated in online gambling for a long time, they also know the use of bitcoin as a payment tool, so they also agree that it can also create behavior for other people.

GxSTxV

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Well this is a very good question, We all are crypto users since gamble with crypto casinos and make deposits with Bitcoin or any other coin or token. So automatically, we have or hold some crypto and the best one to hold not only in my opinion but the fact that it’s a good and less volatility compared to other beside more secure.
If we are speaking logically, it’s better to not play and gamble that much when bitcoin price is going up to gain more since gambling has more chances to lose than gain. But for me personally, I feel happy when bitcoin price is going on UP direction so I automatically gamble more and I believe most of gamblers do the same.
The impact of bitcoin price can really effect our gambling schedule, knowing that you have got more money since bitcoin gained price we attend to play more which is totally wrong if you want to save more.

Onyeeze

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Quote from: bitbollo on November 09, 2023, 10:43:35 AM

Dear fellow gamblers, as title topic said, I have a question/survey for you!

What impact does the BTC price have on your play (gambling both in casino/sports betting/binary options etc)?

Did you play more? Did you play less? Any thought or opinion on that?
Feel free to add your answer on my survey

( I will add my answer on a second time .... Roll Eyes

)

The increment of bitcoin will not make someone who a gambling enthusiasm to withdraw from or limit the value of bitcoin it uses in a gambling, if bitcoin price increases a gambler will calculate the ratio and value to that particular amount it uses to play before to use and gamble for now, some people who is into gambling most specifically forum signature participants does not find it difficult or discouraging by using a particular amount of bitcoin to gamble, so therefore gambling with bitcoin is advantages to signature participants because they earn in bitcoin, but that will not make them not to have a limit of bitcoin they will use to participate in gambling, actually who is a lover of gambling will not find it hard to gamble with btc as the value of bitcoin increases

temple

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Quote from: bitbollo on November 09, 2023, 10:43:35 AM

Dear fellow gamblers, as title topic said, I have a question/survey for you!

What impact does the BTC price have on your play (gambling both in casino/sports betting/binary options etc)?

Did you play more? Did you play less? Any thought or opinion on that?
Feel free to add your answer on my survey

( I will add my answer on a second time .... Roll Eyes

)

This is a very good question and I think I came across this one in the past already, but I think it is still valid to ask again. Concerning myself, I think I am holding myself back from gambling when Bitcoin is rising or there is lots of positive sentiment about the BTC price. Because when I lose a bet I feel more guilty when my precious BTC is gone and when the BTC price is moving sideways, I don't know but I think it doesn't hurt as much because FOMO doesn't come into play as a catalyst for feelings of regret. I know that people will now recommend to not play at all then, but I thought I'd share it with you.

decodx

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The price of Bitcoin definitely influences how I play the game. When BTC is pumping and I'm riding that crypto high, sometimes I get a little reckless with my plays. The exhilaration of watching those gains stack makes me want to just go for it without thinking too hard. But then again, when the market is tanking and my portfolio looks like a hot mess, I get way more risk-averse. I'll play it safe make the careful moves, and try not to lose any more sats and it's all about finding that sweet spot between being bold and being smart with your money. You gotta strike while the iron is hot but also protect your investment when things are bearish.

dunfida

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Quote from: bitbollo on November 09, 2023, 10:43:35 AM

Dear fellow gamblers, as title topic said, I have a question/survey for you!

What impact does the BTC price have on your play (gambling both in casino/sports betting/binary options etc)?

Did you play more? Did you play less? Any thought or opinion on that?
Feel free to add your answer on my survey

( I will add my answer on a second time .... Roll Eyes

)

Literally as of this moment, i cant really make use of BTC on my gambling or leisure time. Why? Its obvious just because of the fees on which i cant really afford on paying up that high.

We do currently experiencing at the moment on having that network spam on which those fees skyrocketed once again so its not really that worth on making transactions
not unless if you are a whale then you wont really be bothered on spending up those few bucks in terms of fees on which there's really a notable difference among the two
so its up to your own choice which action you would really be taking.

Now in my gambling habit or moments then as usual, i do make use of those cheap ones like Doge or whatever that i do have specially on meme coins
or cheap tokens/coins that it is available as long the fees arent that high then thats what im doing.

Dr.Bitcoin_Strange

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It didn't have any effect on me because I have not been gambling with cryptocurrency lately. I think people have choices for what they want to do with their bitcoin. For example, if I have like 5 bitcoins, I can decide that I only want to gamble with 1 while holding the rest in my portfolio for investment purposes. It's a matter of choice as well as the amount of Bitcoin that the person is holding. If someone is holding a significant amount of bitcoin, they can decide to use some portion of it to bet while holding the rest for investment. The bitcoin price is already giving signs that the bull market is going to be a season of profit, and I will not even spend some bitcoin on gambling now.

Wiwo

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Nothing because when I am betting I only stake the Bitcoin amount and not the dollar so if I win my total winning will still come in in Bitcoin same thing goes when you lose also, so to some extent, it is clear that the Bitcoin market condition will have little to nothing to do with how I bet at some point and that is what have made up for my choice, so it will be at the point of exchange that we consider the $ value of our winning, aside from that, when it come to playing games and staking I don't think there be any considerations due to the market.

So Bitcoin market conditions have nothing to do with my gambling habits and regardless of what the outcome of the Bitcoin market is, I will never allow myself to be eaten up with that market outcome at any time since I know it be a temporary market condition that will not last long.

Gozie51

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Quote from: ryzaadit on November 09, 2023, 01:54:53 PM

IMO, the only things is effect for us it's the transaction-time. Most the time, If cryptocurrency on bull-run we have overload transaction and is effected to credited balance.

Even in such times of high fees either because of volatility or something else and casinos increase their transaction fees to their platform , what you can do is to convert your transaction coin to stable coins like either usdt and that will reduce the fees to 1$ which will be very cheap compared to transacting directly on the coin without conversion. It is easier that way than doing a direct transaction with high landing fees.

Topic: What impact does the BTC price have on your gambling habits? - page 4. (Read 428 times)