Why Gambling sites don't offer betting on bitcoin price ? - page 2.

goaldigger

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Quote from: RaiBlockCommunity on August 27, 2022, 06:14:21 AM

Why Gambling sites don't offer betting on bitcoin price ?
Like whether bitcoin will go up next hour or go down and stuff like these?

Rollbit have this option, other site like freebitco.in also have this one.
I just don't know if there's really a demand for this since the price can be predicted using the chart analysis and if you are good with that you can probably win a lot of money on this kind of bet. Prediction is short period of time might be more easy, many site don't have this feature. Many are still used to bet in sports and other gambling games, the interest for price prediction is quiet low because for sure, it requires a lot of work before you are able to bet and predict the right price.

electronicash

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it is unfortunate that with so many binary option in BTC that turned out to be scam, users will be skeptic in using it.
binary option was very common back when secondstrade was very much active. i think because of lightning network, binary trading could have another chance for gamblers to bet on.

in rollbit, is this they call crypto futures?

madnessteat

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It seems to me that this kind of prediction does not bring enough pleasure to gamblers. It is much more fun and excitement to play slots or poker, besides if you want to play first cryptocurrency price prediction you can do it on one of many centralized exchanges just by buying and selling coins depending on your vision of market movement.

dothebeats

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Rollbit had this market before though I think they no longer offer such due to the lack of interest from the general gambling peers. Binary options are still a thing although it's not something you can find on a gambling platform anymore. It has been on dedicated trading platforms and I think it's best to be that way since the focus of gamblers are not on the price of bitcoin anyway. It's a completely different realm from your regular gambling games that you can find on a casino.

jostorres

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Quote from: Oshosondy on August 27, 2022, 07:34:22 AM

I do not know the reason why gambling sites do not give this kind of betting, probably it is still regarded as trading, that could be the reason why it is offered by trading sites that are specifically designed for it.

To bet the direction bitcoin price would be, that people can regard not as trading but as gambling, it is offered by some brokers. For bitcoin, it is called bitcoin binary option, you can also gamble fiat with it.

Most gambling sites do not provide this option, but maybe later some gambling sites can start to include it as it seems more as gambling, but offered by binary option trading sites.

Click in this link to know if it is of help: https://www.binaryoptions.net/bitcoin-binary-options/

Some people said freebitco have the option, but not in short time, but in a long time like months, maybe you can try it. If you need the ones that can be in seconds, minutes and few hours and months, you should go for binary options trading sites, some of the site are listed on the link I provided above. But be careful, I do not like binary option, I do not know how trustworthy those sites are, do more research about the sites.

I think this is different from trading because in trading, there are pairs or two different coins which are involved but in gambling you will simply double your money if you win but you will still end up with the same type of coin. Trading is also faster while betting on the price will end on a specific time but I know it wasn't instant.

Trading can still be linked in gambling because of its high risk but trading is more on skill because you have different features to apply on your trades not unlike to betting on the price where you can only choose a price or input your desired price and do nothing after that but simply wait for the results.

Johnyz

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There’s a lot of site with this option, you just need to do some research though majority of the site don’t have any betting option with regards to the price in the market. There’s an option before that turns out into a scam and maybe, gamblers don’t want this anymore. Betting the price is fun as well, but on this option it can be more predictable since you can analyze the price just like how trading works and this could be one of the reason.

Adbitco

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Have you searched around the forum or do you wanna just watch the bitcoin prices to know how it moves?
Then i will refer you to check on CMC maybe you can track check the prices as it progresses. I noticed you have been here for long since from 2016 and i suggest you should know more now instead asking questions where it doesn't belongs to.

Rruchi man

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Quote from: RaiBlockCommunity on August 27, 2022, 06:14:21 AM

Why Gambling sites don't offer betting on bitcoin price ?
Like whether bitcoin will go up next hour or go down and stuff like these?

I guess you didn't know there where gambling sites with such options because it is not a common option amongst gambling sites. All gambling sites have their freedom of options to choose which games or things people can bet on on their platform, there is no fixed rule that all betting sites must feature the same things, hence the reason why only a few of them eg "freebitco.in" feature betting on bitcoin price.

Oshosondy

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I do not know the reason why gambling sites do not give this kind of betting, probably it is still regarded as trading, that could be the reason why it is offered by trading sites that are specifically designed for it.

To bet the direction bitcoin price would be, that people can regard not as trading but as gambling, it is offered by some brokers. For bitcoin, it is called bitcoin binary option, you can also gamble fiat with it.

Most gambling sites do not provide this option, but maybe later some gambling sites can start to include it as it seems more as gambling, but offered by binary option trading sites.

Click in this link to know if it is of help: https://www.binaryoptions.net/bitcoin-binary-options/

Some people said freebitco have the option, but not in short time, but in a long time like months, maybe you can try it. If you need the ones that can be in seconds, minutes and few hours and months, you should go for binary options trading sites, some of the site are listed on the link I provided above. But be careful, I do not like binary option, I do not know how trustworthy those sites are, do more research about the sites.

noormcs5

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Quote from: RaiBlockCommunity on August 27, 2022, 06:14:21 AM

Why Gambling sites don't offer betting on bitcoin price ?
Like whether bitcoin will go up next hour or go down and stuff like these?

Are you talking about this type of betting which is being provided by freebitco? Although they don't allow you to bet on bitcoin price on shorter time frames. Rather they only have the option to bet on bitcoin monthly price prediction.
Besides bitcoin, they give you option to bet on Ethereum as well as their own native Fun token.

https://freebitco.in

livingfree

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That's binary or options, cmiiw.

There are sites that do offer that and if you've got time to search for them, you'll see them have it. And for the gambling sites that don't offer it, it is basically not their niche and that's why it is not on their books.

Also, if you want to get on this type of thing. Just go with the exchanges that offers futures/margin trading.

FatFork

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I can also suggest FreeBitco.in: https://bitcointalksearch.org/topic/freebitcoin-200-freebtcwin-lambo02btc-dailyjackpot32500-wager-contest-320959
FreeBitco.in is known for its huge following and has been active on this forum for many years. It does, however, offer a slightly different betting section than regular bookmakers.

Aside from this, you can also try Rollbit's gamified crypto trading: https://bitcointalksearch.org/topic/rollbitcom-cryptos-most-rewarding-casino-5326640

dimonstration

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Quote from: RaiBlockCommunity on August 27, 2022, 06:14:21 AM

Why Gambling sites don't offer betting on bitcoin price ?
Like whether bitcoin will go up next hour or go down and stuff like these?

You are looking for Binary trading and I think Rollbit has this kind of game before but I’m not sure if they are still offering right now because exchanges is the one who offers this game now through there option trading. This game is already under trading which gambling casino already not interested anymore to compete on exchange since that is not there main area of games.

Options, Binary and Leverage trading is the activity that you are looking for that has this kind of mechanics. I hope it will helps you.

Jemzx00

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Actually there are some betting gambling sites that offer this kind of gambling.

Have you checked out Freebitco.in? You can bet there on how much do you think the price of bitcoin will be at the end of the month.

Also, isn't this just the same on other trading platform where you bet on long or short?

gantez

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Do research and find more

Do some research by yourself next time before ask simple question that is everywhere online.

If you asking about bitcoin price that is trading the price of bitcoin. That is for trading sites like binance. You can move thread to trading discussion for answer you ask.

RaiBlockCommunity

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Why Gambling sites don't offer betting on bitcoin price ?
Like whether bitcoin will go up next hour or go down and stuff like these?

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