What is your take on this crypto gambling use case idea? - page 4.

CryptoYar

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Quote from: Crypt0Gore on January 21, 2023, 05:03:14 AM

Do you think it makes sense if a crypto gambling platform only accepts it's own token for gambling and gambling on it's platform?

The purpose of creating your own token means you'll not accept any other currency. If you accept all crypto currencies, then why token ser? I know some popular casino platform have their own token, but the token use case is " stake and earn more tokens" while we have a lot of other tokens that we can stake then why their token.

Quote from: Crypt0Gore on January 21, 2023, 05:03:14 AM

Will this work? Will this fail? What's your take on this?

In my opinion, give it a try. If you have something different then yes it would work. People will buy your token to play your games.

ethereumhunter

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Quote from: letteredhub on January 25, 2023, 02:37:57 AM

Such idea of a particular token is what not just myself but other users would describe as another way of taking freedom of choice from the player leaving the gambler with no option but yours. How addictive can such a game be, many casinos have had games that looks addictive from the beginning but at the end it's bores the player as he then seek for higher and better type. And that's where the law of diminishing returns sets in to gambling. Lolz.

If the idea of using certain tokens originating from the casino is implemented, it will reduce the freedom of gamblers who are used to using lots of coins to gamble. They are forced to exchange their coins for casino tokens and only then can they start playing. Casinos can try it to see how every gambler reacts to who comes and plays at their casino. But it would be better if the casino had many coins available on their site and did not limit it to just having the casino token from the casino. The casino may need to launch the casino first so members can see what it looks like and if they think the site is okay, they will love it even if they have to convert their coins to casino tokens.

AicecreaME

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Quote from: letteredhub on January 25, 2023, 02:37:57 AM

Such idea of a particular token is what not just myself but other users would describe as another way of taking freedom of choice from the player leaving the gambler with no option but yours. How addictive can such a game be, many casinos have had games that looks addictive from the beginning but at the end it's bores the player as he then seek for higher and better type. And that's where the law of diminishing returns sets in to gambling. Lolz.

I think they wouldn't really take the freedom of choice of the players, but instead add additional alternative crypto coin to choose from aside from the usual ones. Of course, this will only be possible if they won't remove other options of the players to use other coins based on their preferences. There are already existing casinos that established their own coin but still let their players pick what they want. After all, one can be bored from using and sticking to one. Some might want to explore too.

Variations can garner more potential players in a casino website. If the players want to use their usual, then be it. If they want to use a token, then they'll have the option to do so and won't have to find another casino to cater their needs.

Slow death

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Quote from: maydna on January 24, 2023, 09:12:59 AM

Quote from: GigaBit on January 24, 2023, 08:49:10 AM

Quote from: Mr. Magkaisa on January 24, 2023, 07:49:25 AM

Quote from: seoincorporation on January 23, 2023, 01:32:41 PM

I don't think is a bad idea to use your own token for a casino, but I don't think it would be attractive for users at all because they need to exchange the token to get the real money, and if the market doesn't have the solvency then they huge wins will not be paid at all.

There are some casinos who already implemented this idea, and to make it work the toke need to have a nice backup in the market. That way users can trust the token.

- It's not bad, if a team is managed well, that token and their gambling platform will surely last. The one that is known to last in this industry is BFG or betfury so far this token is doing well in the market.

But it seems that there are only a few crypto gamblings that have their tokens as far as I know about this matter.

Token based gambling or casino platforms can quickly become successful when the number of gamblers increases. In token based platform gamblers can use others top coins along with platform own token. However, most of the token based gambling platforms do not increase the token price much. but if the popularity of such platforms increases, these platforms can improve rapidly. Here almost all of us know about BFG Token. They have conducted gambling activities long time with their own tokens as well as other cryptos. But this project has reached in a good level. Not only that there are some other token based gambling projects that are managing gambling efficiently.

The BFT token comes from BetFury casino, and we know that BetFury has been promoting on this forum for some time, and maybe that's why this project from the casino can get a place among casino tokens. If the team from this project wishes to continue its promotion on this forum, their casino token may become increasingly. The public will know that token is one of the casino tokens that can provide other prizes for investors. If investors stake their tokens at the casino and maybe get other prizes. If those casino tokens want to be recognized by the public, they have to keep doing promotions to encourage more people to use their tokens for gambling. But they also have to have other coins to gamble with because some people still prefer to gamble with their favorite coins.

One of the things I've been talking about constantly is the following:

a person has 1 litecoin, that person wants to play at the casino, obviously that person will look for casinos that accept deposits in litecoin, another person has bitcoin and wants to play at the casino, obviously that person will look for casinos that accept bitcoin as a deposit.

Now let's think about why these two people would want to create an account on one of those sober exchanges just to exchange litecoin or bitcoin for a casino token and then take the casino token to go play and lose? why would these people go to so much unnecessary trouble and sacrifice if they can just take their coins and play in the old respectable casinos?

these casino tokens make no sense their existence

TheGreatPython

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Quote from: cydrix on January 23, 2023, 09:19:45 AM

A crypto gambling having its own currency only will not be successful since most of the users prefers different crypto currency like Bitcoin, usdt and etc.

Most of the gambling sites uses different types of cryptocurrency for a bigger chance of having more players. A casino must be open for different coins for easy and better gambling experience. Using native token will only go to failure of your project.

You just said that "user prefers different crypto" and then "a wide variety of coins attracts more players" so therefore introducing this new crypto to be used in gambling can be effective to magnet more players. You know, people can also get bored on the same coin so there is this urge that they want to try something new.

There are gambling sites which has their own tokens. They can be Owlcasino, Betfury and moonbet (only to name a few) and these casinos are still alive and doing well. So, how can you say that a casinos that has their own token "will only go failure"? Currently the numbers of these casino are still less so we need to see more of them.

letteredhub

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Such idea of a particular token is what not just myself but other users would describe as another way of taking freedom of choice from the player leaving the gambler with no option but yours. How addictive can such a game be, many casinos have had games that looks addictive from the beginning but at the end it's bores the player as he then seek for higher and better type. And that's where the law of diminishing returns sets in to gambling. Lolz.

klidex

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Quote from: gunhell16 on January 25, 2023, 01:20:43 AM

Quote from: BitcoinPanther on January 23, 2023, 03:10:59 PM

Quote from: bitbollo on January 23, 2023, 12:12:19 PM

the token could have a whole series of problems.
it can be deflationary, and above all it would have an isolated and well-defined "use case"!
What do you do if such an issue occurs?

In short, on balance it would practically make no sense ... I would never use a site that forces me to play exclusively with their token Roll Eyes

I do not think that the token can give a whole series of problem but rather the implementation of accepting the token alone would give the platform some problem. Unless the gambling platform is very popular, implementing a single way of deposit are missing the opportunity of other token or cryptocurrency are accepted. It will only limit the population of the casino to only the people that is using their token.

But I've never seen a token on a gambling platform here in cryptocurrency that has caused major problems in this industry in history here, is there any dude?

Also, as far as I can see, other tokens in crypto gambling can provide good profit to gamblers and other holders in my opinion.

Yes, that's right, I have never heard of or seen such a big problem caused by original casino tokens. What I have known is that some users regret that there are casinos that only use and accept original casino tokens without any other crypto tokens that can be accepted. or in use.

Other tokens in gambling can provide more benefits for gamblers because indeed some of these Crypto tokens have a fairly high value compared to the original casino tokens and other tokens can also experience price increases so quickly, that's why I think gamblers prefer to use other tokens.

slapper

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Quote from: GigaBit on January 24, 2023, 08:49:10 AM

Quote from: Mr. Magkaisa on January 24, 2023, 07:49:25 AM

Quote from: seoincorporation on January 23, 2023, 01:32:41 PM

I don't think is a bad idea to use your own token for a casino, but I don't think it would be attractive for users at all because they need to exchange the token to get the real money, and if the market doesn't have the solvency then they huge wins will not be paid at all.

There are some casinos who already implemented this idea, and to make it work the toke need to have a nice backup in the market. That way users can trust the token.

- It's not bad, if a team is managed well, that token and their gambling platform will surely last. The one that is known to last in this industry is BFG or betfury so far this token is doing well in the market.

But it seems that there are only a few crypto gamblings that have their tokens as far as I know about this matter.

Token based gambling or casino platforms can quickly become successful when the number of gamblers increases. In token based platform gamblers can use others top coins along with platform own token. However, most of the token based gambling platforms do not increase the token price much. but if the popularity of such platforms increases, these platforms can improve rapidly. Here almost all of us know about BFG Token. They have conducted gambling activities long time with their own tokens as well as other cryptos. But this project has reached in a good level. Not only that there are some other token based gambling projects that are managing gambling efficiently.

I completely agree with what you've said about BFG Token. They have been in existence for some time and have a track record of success. Their site seems to be well-organized, with a huge selection of games and several alternatives for gamers. I'm especially impressed by their ability to maintain somewhat consistent token pricing amid a very turbulent market. Clearly, they are committed to provide a robust and dependable gaming experience.

I'm also interested in alternative gaming systems based on tokens. Please let us know if you know of any other platforms that have been successful. It is always exciting to learn about successful new ventures in this industry. Thank you for your wisdom!

gunhell16

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Quote from: BitcoinPanther on January 23, 2023, 03:10:59 PM

Quote from: bitbollo on January 23, 2023, 12:12:19 PM

the token could have a whole series of problems.
it can be deflationary, and above all it would have an isolated and well-defined "use case"!
What do you do if such an issue occurs?

In short, on balance it would practically make no sense ... I would never use a site that forces me to play exclusively with their token Roll Eyes

I do not think that the token can give a whole series of problem but rather the implementation of accepting the token alone would give the platform some problem. Unless the gambling platform is very popular, implementing a single way of deposit are missing the opportunity of other token or cryptocurrency are accepted. It will only limit the population of the casino to only the people that is using their token.

But I've never seen a token on a gambling platform here in cryptocurrency that has caused major problems in this industry in history here, is there any dude?

Also, as far as I can see, other tokens in crypto gambling can provide good profit to gamblers and other holders in my opinion.

pixie85

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Quote from: Z390 on January 24, 2023, 12:15:23 PM

Certain use cases brings value to the token or coin of a casino project, that's left for the team to figure out, if the gambling token has a new utility that others don't have this can move up the adoption of such token, I am not against using a gambling token for placing a bet on the website but make sure it's worth gamblers time.

The reason why gambling and casino platforms accept the different types of cryptocurrencies is because of their users, some will still prefer bitcoin while some will want to use Dogecoin or Litecoin. It's not bad to accept other crypto coins.

It's not bad to accept coins that aren't considered scam. Accepting everything without sifting out the bad ones will lead to casinos exposing themselves and their clients to scams like luna and failures like FTT. Would you like casinos to accept shitcoins like that or scam coins like hex?
I'm fine with casino accepting a number of cryptocurrencies, but I wouldn't trust them if they were experimenting with ponzi coins. The more doesn't always mean the better.

danadc

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Quote from: AmoreJaz on January 23, 2023, 04:45:45 PM

Quote from: romero121 on January 23, 2023, 04:29:34 PM

Very few will show interest to buy the native token of a gambling platform and spend on gambling. Though the growth is good and the game on the platform is unique, it won't easily attract people towards it. Because, cryptocurrency accepted gambling platforms have turned to be very big with different games available for gambling. Beyond this one to reach the unique game with their own token being bought is little difficult. Maybe the marketing could do something positive on this.

just take for example of some casinos here which are accepting token or have their own casino token. do you think they are pretty successful with such route? though we can consider few of them successful as they are still surviving but do take note that they are not only accepting their own token but they are also accepting top coins like btc, eth or ltc. i wonder where they will be heading at if they will only accept their token on exclusive basis?

I really like it when there is a company that comes with games, betting and that have native tokens, but that the native token can quickly emerge to Binance or another exchange that is centralized to have more success because everyone is always looking for that, we have to make the casinos see that what the players are looking for the most is to try to win and win in investment, if they make it easier it is possible that they have those clients on their side and can take advantage of them, I do not see any other strategy, when it comes to of tokens they have to give so that everyone wants to invest in order to win-win, even though it is not like that.

Fivestar4everMVP

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Quote from: Z390 on January 24, 2023, 12:15:23 PM

The reason why gambling and casino platforms accept the different types of cryptocurrencies is because of their users, some will still prefer bitcoin while some will want to use Dogecoin or Litecoin. It's not bad to accept other crypto coins.

You are absolutely correct, this is something I emphasized in my previous comment.
And another reason my most gamblers will still prefer to gamble with their bitcoin and other popular altcoin is due to liquidity, new coins hardly have good liquidity most especially when it's not yet listed on a good exchange, and having a new coin list on a good exchange will take alot effort and resources from the team behind the coin.
Lack of enough liquidity simply means that one can easily swap their bitcoin to the token but swapping the token back to Bitcoin will become a big problem due to low demand for the token, so this is another reason why many would still prefer to gamble with their bitcoin as it is rather than change or swap it to a token the casino developed.

Flexystar

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Making a game addictive doesn’t mean that it will make the game token famous with it. Here, we are focusing on the game but not the game tokens so it will have little downside impact on it. Gamers might just get addicted to games, have their best plays and leave the room. You have not specified what would be link between addictive gaming and the toke used in it. Let’s say there are restrictions to play the games without having A amount of in game tokens then it might work slightly. Need bigger strategies to make it success.

QueenVera

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I don't think it's a nice move for them because the gambling industry is a very demanding one and most times the policies but this law makers don't really favour the owners but rather the players and using your own token wouldn't be a nice one because most players wouldn't find this really interesting or positive especially if your token doesn't seem promising to them and no one would want to swap their coin for your token (a token who's possibility of making any profits isn't certain) from their preferable coins just because they wat to gamble on your site that has no guarantee when there are other several options of better casinos out there in the industry and still offers several other coins aside Bitcoin and usdc.

Z390

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Certain use cases brings value to the token or coin of a casino project, that's left for the team to figure out, if the gambling token has a new utility that others don't have this can move up the adoption of such token, I am not against using a gambling token for placing a bet on the website but make sure it's worth gamblers time.

The reason why gambling and casino platforms accept the different types of cryptocurrencies is because of their users, some will still prefer bitcoin while some will want to use Dogecoin or Litecoin. It's not bad to accept other crypto coins.

len01

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Quote from: GigaBit on January 24, 2023, 08:49:10 AM

Token based gambling or casino platforms can quickly become successful when the number of gamblers increases. In token based platform gamblers can use others top coins along with platform own token. However, most of the token based gambling platforms do not increase the token price much. but if the popularity of such platforms increases, these platforms can improve rapidly. Here almost all of us know about BFG Token. They have conducted gambling activities long time with their own tokens as well as other cryptos. But this project has reached in a good level. Not only that there are some other token based gambling projects that are managing gambling efficiently.

there are still many online gambling platforms that use their own tokens to be able to bet on their own sites and BFG is indeed one of the gambling platforms that use their own tokens to bet. and many more like OWL and FUN tokens.
but from everything I mentioned, the gambling platform also supports betting using other cryptos such as bitcoin, ethereum, bnb etc. so the development of the platform is very fast because some gamblers prefer to bet using their own favorite coin and if a gambling platform provides its own token to bet and also accepts other crypto to bet, I'm sure there will be many who are interested and try to join the platform.
but all the real key to success is not only in betting using its own token or other crypto but also the support of the development team.

Yatsan

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Whether it would work or not, that will depend on the gambling platform you are planning to offer to your audience. Using a certain gambling site token would be fine likewise with allowing different cryptocurrencies to be used on your platform. Preferences will vary only because of transaction fees which is why some people prefer a particular crypto in gambling or in transactions. One would affect the other basically. If the gambling site itself won't be interesting foe the players, mode of payment would be useless if they won't even engage into it. Same thing if the gambling token would be peicy to deposit and withdraw; no matter how good your platform become, their interest would somewhat fade fterwards.

maydna

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Quote from: GigaBit on January 24, 2023, 08:49:10 AM

Quote from: Mr. Magkaisa on January 24, 2023, 07:49:25 AM

Quote from: seoincorporation on January 23, 2023, 01:32:41 PM

I don't think is a bad idea to use your own token for a casino, but I don't think it would be attractive for users at all because they need to exchange the token to get the real money, and if the market doesn't have the solvency then they huge wins will not be paid at all.

There are some casinos who already implemented this idea, and to make it work the toke need to have a nice backup in the market. That way users can trust the token.

- It's not bad, if a team is managed well, that token and their gambling platform will surely last. The one that is known to last in this industry is BFG or betfury so far this token is doing well in the market.

But it seems that there are only a few crypto gamblings that have their tokens as far as I know about this matter.

Token based gambling or casino platforms can quickly become successful when the number of gamblers increases. In token based platform gamblers can use others top coins along with platform own token. However, most of the token based gambling platforms do not increase the token price much. but if the popularity of such platforms increases, these platforms can improve rapidly. Here almost all of us know about BFG Token. They have conducted gambling activities long time with their own tokens as well as other cryptos. But this project has reached in a good level. Not only that there are some other token based gambling projects that are managing gambling efficiently.

The BFT token comes from BetFury casino, and we know that BetFury has been promoting on this forum for some time, and maybe that's why this project from the casino can get a place among casino tokens. If the team from this project wishes to continue its promotion on this forum, their casino token may become increasingly. The public will know that token is one of the casino tokens that can provide other prizes for investors. If investors stake their tokens at the casino and maybe get other prizes. If those casino tokens want to be recognized by the public, they have to keep doing promotions to encourage more people to use their tokens for gambling. But they also have to have other coins to gamble with because some people still prefer to gamble with their favorite coins.

d3nz

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Quote from: Shinpako09 on January 24, 2023, 08:36:41 AM

I don't think it's a wise move. It seems as though you are restricting their options and pressuring them to utilize your token. Players won't become engaged in the game, stay longer, or perform effectively as a result of this. Additionally, your friend is reducing his earning potential. Some players or possibly the majority have a coin preference. Casinos now provide a variety of currencies to provide customers with more choices.

I think it's also good for casinos to use their own token if they offering other benefits holding them in your wallet also has privileges depending on how much you hold. And of course, the availability of other altcoins is a must so players have a lot of options when doing transactions. The only problem is that some altcoins have no stable value which can change every second or a minute.

GigaBit

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Quote from: Mr. Magkaisa on January 24, 2023, 07:49:25 AM

Quote from: seoincorporation on January 23, 2023, 01:32:41 PM

I don't think is a bad idea to use your own token for a casino, but I don't think it would be attractive for users at all because they need to exchange the token to get the real money, and if the market doesn't have the solvency then they huge wins will not be paid at all.

There are some casinos who already implemented this idea, and to make it work the toke need to have a nice backup in the market. That way users can trust the token.

- It's not bad, if a team is managed well, that token and their gambling platform will surely last. The one that is known to last in this industry is BFG or betfury so far this token is doing well in the market.

But it seems that there are only a few crypto gamblings that have their tokens as far as I know about this matter.

Token based gambling or casino platforms can quickly become successful when the number of gamblers increases. In token based platform gamblers can use others top coins along with platform own token. However, most of the token based gambling platforms do not increase the token price much. but if the popularity of such platforms increases, these platforms can improve rapidly. Here almost all of us know about BFG Token. They have conducted gambling activities long time with their own tokens as well as other cryptos. But this project has reached in a good level. Not only that there are some other token based gambling projects that are managing gambling efficiently.

Topic: What is your take on this crypto gambling use case idea? - page 4. (Read 1081 times)