Topic: What is your take on this crypto gambling use case idea? - page 7. (Read 1054 times)

To be honest, I am not a fan of playing unique games. I tend to play the games which I am comfortable with.
My favorite games are dice, crash and wheel. So I keep playing these games occasionally.
Talking about the swap service then yes that's a good idea to accept multiple cryptocurrencies.
But I guess the developer doesn't want other cryptocurrencies than his native token.
That might lead to a downside since most users prefer to play with the options of multiple cryptocurrencies.

If the casino has a lot of coins, it can make it easier for gamblers to choose the coins they use as coins to deposit money. Only then can gamblers convert the coins into casino tokens and immediately play gambling. As we have seen, many casinos implement automatic conversion to USD even if we deposit BTC, ETH, LTC or even TRX coins. This won't give users the headache of exchanging their coins into casino tokens before they start playing.

Nothing wrong with that but to reach more users it would be better to list also top coins like btc, eth, trx even bnb as currency in gambling platform

I'm not sure the project would be in high demand if they only focus on their own tokens.

If this will be the case, then this just shows that the platform has a lot of trust on their own token for them to use it in their own platform. Normally, they would just introduce a new token in the market and let the consumers decide whether this new token is of value to them or not. But with them carrying most of the bags and most of the risks, I think this is somewhat doable though the success of such a project isn't certain. Aside from their own tokens, they must also accept other popular crypto/tokens in the mix to make sure that their platform has a lot of appeal to the general crypto gambler.

It's definitely an interesting idea to only accept the platform's own token for gambling on the platform. But in reality, this could limit the number of players who are willing to use the platform. Most players prefer to have a variety of deposit options, such as Bitcoin, Ethereum, and even traditional payment methods like credit cards. Limiting the deposit options to just one token could make it difficult for players to access the platform and participate in the games.

Another thing to consider is that unique and one-of-a-kind games can be easily copied or modified by other casinos. This means that even if the platform is successful in creating an addictive game, other platforms can easily replicate the game and offer it to their own players. This means that the platform's token may not be as valuable as you think, especially if other platforms are able to offer the same games.

It's important to consider all the potential limitations and challenges before launching a crypto-gambling platform that only accepts its own token. It may not be the most favorable option for players and investors, and there may be better ways to attract and retain players while still maintaining a profitable business. If such kind of casinos are successfully launched, without new features or deposit options, their glory will only last for a short term

No. A crypto casino should accept at least one of the well known cryptos. It could be bitcoin but  if they don't, I can understand it. (maybe they think the fees are too high sometimes) Doge, LTC, XMR, ETH (this is expensive too sometimes) are good alts. A crypto casino should at least accept one of those currencies if they are thinking for the long term.

Then they may offer their own token as a side business. Freebitco.in kind of does this. They accept bitcoin and fun tokens.

They wouldn't be so big if they were offering fun tokens only.

In the past there was another casino accepting their tokens only, I think the token's name was clams or smth. They aren't here anymore as far as I know.

I don't think so, choosing only one token and that too having no particular base to stand on is shoot to potential consumers. At least accept the token of the blockchain you are creating your platform on.

It is a good idea but make sure that one of a kind addictive game is really nice game and not boring because that is the key of those gamblers that really buying those token because of those game . Though i haven't saw any casino that only accepting their coin as they want to accept most of the cryptocurrency as the gamblers wants wide variety of coins they can pay. What i suggest is that if it wont work like there are only few gambler wants it then you need to add another cryptocurrency as their payment and continue running the casino

Nowadays it’s very rare to see people doing trades on any token. Do you think they will love to use your token while gambling? Yes this scenario is possible that you will force the users to deposit in BTC and convert it into the token, then while withdrawing the token will be converted again back to BTC. This can happen and for this also, many will deny. It’s basically very specific for different users and the opinion and choice will also vary from person to person. But the number of gamblers I have met till now, they always avoid to play with any tokens provided by any gambling site.

When you give variety of cryptocurrencies to gamble with, on the gambling site, the gamblers usually prefer it and they are not bound to use certain crypto to gamble. So, i prefer casino who support multiple currencies.

However, if the casino wants the gamblers to use only their native token they can make certain offers like if they gamble wilth gambling site token they can get certain percentage of cashback etc. In this way, people will use the native token for gambling and the utility of that token will increase too.

Nowadays, gamblers prefer a casino with plenty of crypto options for deposit and withdrawal. If the casino will only accept their very own token for you to be able to play on their platform, then it's a disadvantage already for gamblers who don't like the idea. Regardless of how interesting the games they're offering (even it's a unique game) it doesn't mean they will succeed if they will only use their token. So why take risk if they have an option to run their business that might last long? In the end it's in their own discretion.

I believe it is too risky for a new platform to do that, it would be rather and inconvenience for possible gamblers who have Bitcoin, Ether and other major coins.
Some of them would not be willing to go through the hassle and buy an specific token just to try a new casino when the market already has some reliable and trusted alternatives.

In general, people appreciate having a variety of options to deposit into an account, that is why, for example, Stake has a good selection of accepted coins and tokens.

It is truly impossible to attain the interest of the family and move according to it. When it comes to the native token of the particular platform, very few show interest on investing. Working people just lack interest to buy a new token for gambling and spend it. The key focus will be over the regular platform and buying top altcoins will give risk free playing experience than buying a new token for gambling.

It is possible for a crypto gambling platform to only accept its own token but the gambling platform must ensure that they have a strong community.  If they're just starting out, I think it is a nice idea to enable only their token for their gambling platform.  Since they need clients, it would be nonsense if they do not implement other modes of deposit aside from their own token.

They can also consider the regulatory environment since there is different regulation in a different region.  Some jurisdictions might ban cryptocurrency so implementing only your own token will not be beneficial to the gambling platform because of the existing regulation.

I agree into those people who do say that if there would be no value into it then people would be finding for it not to be that interesting since they arent making money or profits with that.
We do know that tokens are really that prone to rug pull if ever the casino owner would really be doing such thing on which it wont really be that something safe for its users or player.
Im much sure that people wont really be that dumb for them to deposit or make out conversion of their value tokens or coins into something not even listed on exchangers
which there's no point in doing so, unless if you could make out some conversion vice versa but this isnt something that people would be trusting or would be confident into.

Why would it make it valuable? I think that people would just avoid the casino. I know i would because why would i want to go over that hassle that i would need to buy a special token to get to play with it. With a high probability of it not having any value in the future.

When on the other hand i cold just use numerous working casinos accepting all kinds of cryptos i could instantly gamble with.
Would that token have any other purposes? And how exactly would this be on the blockchain? There are only few gambling sites actually on the chain and their gui isnn't very user friendly.

It's an audacious plan, which requires the developer to be sure he has a smart strategy to make gamblers come from crypto casinos which accept a plethora of cryptocurrencies to his casino where they will have to swap their funds to the native token.

Potentially yes.

These questions only time can answer. Your friend needs to execute his plan and see how it works on practice. On theory everything is perfect, but only the practical test is able to let him conclude if it will work or not. Good luck to him!

Well I will say this in a business perspective. If you have a client who already had a deal with you and paid you in your own local currency ( or your casino token) and it was a success and he referred his friends to you for deals as he has found you trustworthy person to deal with and his friends comes to you with a foreign currency to have a deal with you knowing very well that the currency is much valuable than yours (ie bitcoin) will you reject the offer? You being diverse with option shows how reliable and ready for business. Let me be plain with you, if your friend is hell bent on using his own native casino token, I tell you, that casino would not see the light of the day. It is better he lives the gambling payment and fee open to other coin than being static on his own token.

It doesn't make sense because the casino will be missing out on the player that wanted to use different cryptocurrencies.  While other casino are widening their range of payment/deposit options to cater more audiences, I believe it is a bad move to remove the variety of options to deposit in the casino.



Depends on the tokenomics of the project.  If they only use their token to access special features in the casino, it will be valuable.  Just like the strategy of Rollbit.  They made their NFT valuable by implementing perks feature of their NFTs.

No point to even attempt it, on top of that every online casino is affiliate to other casino, just a domain, copy then paste, thats all.