Topic: Why Is Bitcoin Gambling Industry So Successful in the World? - page 16. (Read 5536 times)
I think there is only one answer here. Anonymity. From casual to hard core gamblers, they want to protect their identify and don't want to be exposed as being a gamblers. Additional reason is that with bitcoin, you can just deposit to any gambling site if you want to play. So you can play anytime you want anywhere as long as you have the bitcoin and internet connection. Also, the jackpot prizes that has been offered lately has really attracted a lot of gamblers worldwide to try and hit it.
I think many people who gamble with bitcoin do not look at it as playing with real money. Hence there is less control over how the bitcoins are used.
The player being anonymous is one of the reason why Bitcoin gambling is successful. The freedom to play anywhere whether at home, at your car, office, regardless if its a laptop, desktop, tablet or smart phone also helped in making Bitcoin gambling successful. Lastly, whenever there is a continuous increase of Bitcoin price, you will see an increase of activity in gambling sites.
It is successful because of the the people who are using it. More and more people are get addicted on it. They want to earn more and more, they are trying their luck in gambling. And it is because of the jackpot prizes that changes and increases everytime. Thats the reason behind that matter. It is a matter of fate and luck.
More people are interested into gambling but the regulations within the country doesn't allow them to be a part of the industry. Now bitcoin has helped them overcome these issues and play easily. Also the on time settlement is quite good than the gambling websites functioning with fiat. One who start using bitcoin gambling websites will never think of playing with fiat anymore.
Bitcoin does break that barrier on which most people prohibits them on playing gambling online and not only that the payment options like using your card is really a compromised thing regarding on our identity which means when bitcoin do exist already on gambling world then its really a great or big innovation which most gambler do really like to use it and they would not ever comeback on using their cards again. 
More people are interested into gambling but the regulations within the country doesn't allow them to be a part of the industry. Now bitcoin has helped them overcome these issues and play easily. Also the on time settlement is quite good than the gambling websites functioning with fiat. One who start using bitcoin gambling websites will never think of playing with fiat anymore.
The for $12 million purchased satoshidice.com domain is in free fall on Alexa Global Rank: 627,500 - 311,500 = 100% down within 1 month!!!
I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st most successful casino was Satoshi Dice, which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article
Prior to reading the article, this is my respond based on my knowledge why bitcoin gambling industry is succesful:
-Anonymous. Who doesn't want to be anonymous when playing gambling? This kind of specifications is a must especially when dealing in an online gambling. Other online gambling site outside crypto world required identifications before they can able to play or withdrawn.
-Fast deposits. Fiat transfers needs some fiat payment processors that is supported by those online casinos so that they can able to deposit. We all know that payment processors, for e.g, Paypal, Payza or even linking bank account will destroy the system of anonymity. Unlike in bitcoin that transfer is just one click away.
-Promos, rewards, bonus, deposit bonus and giveaways. No doubt these are one of the factors why new gamblers is coming to a gambling site.
Now after reading the article, I see that it's majority for us to think that being anonymous is really important for all gamblers.
Some of the reasons i believe btc gambling is successful is people want to kill two birds with one stone, the first win the house second have a bag lot of bitcoins to pay you well when price goes to the moon...its that fast of an investment industry
On of the prime reasons is the ease of access to these services with little to no customer verification's and players been able to play anonymously which opens the doors to more users.
On of the prime reasons is the ease of access to these services with little to no customer verification's and players been able to play anonymously which opens the doors to more users.
First of all gambling didn't help Bitcoin but the other way around, if there was no cryptocurrency there couldn't be any online casino like now we have a saturated market filled with them. they have also opened some doors for fraud, scam and theft.
You can literally sit at your desk in home or office or in bathroom with mobile phone or laptop and internet access and bring the entire casino under your finger tips.
Why people travel using airplanes? because it's fast and convenient.
Why people buying smart phones? because it gets the jobs done much faster and are easy to use and you can carry them around with no efforts.
Why and why and many more questions, if you could offer something better than Bitcoin and it being accepted worldwide and out side of the reach of governments then people will use it, only matter of convenience IMO.
You can literally sit at your desk in home or office or in bathroom with mobile phone or laptop and internet access and bring the entire casino under your finger tips.
Why people travel using airplanes? because it's fast and convenient.
Why people buying smart phones? because it gets the jobs done much faster and are easy to use and you can carry them around with no efforts.
Why and why and many more questions, if you could offer something better than Bitcoin and it being accepted worldwide and out side of the reach of governments then people will use it, only matter of convenience IMO.
Easy because gamblers do not want their identities to be knowed and almost all fiat gambling asks us to verify accounts to able make a withdrawals but with the advent of bitcoin gambling site. we do not need to verify our account maybe that's why bitcoin gambling sites are successful.
The anonymity that bitcoin offer give a big impact to gambling industry. Gamblers who used to be reluctant/afraid to gamble online with fiat now flocked to enliven gambling sites. This mainly caused by the anonymity which bitcoin offers.
At least anonymous for your friends and family.
I'm not sure why you'd have to gamble anonymous from the government in case it's legal.
There are plenty of reasons why bitcoin has became so successful in the financial world, and I think that the most important reason is that a regular, not important citizen of even small country can make settlements with anyone else, and it does not matter where this person/company lives.
It is all about connection to the internet, and the ability to obtain some bitcoins through some particular job or activity, or just by buying them on the exchange / from the merchant on localbitcoins.com.
Also, the very important thing is that bitcoin and overall cryptocurrencies, give thousands of opportunities to make money: on investing, speculating, trading, posting , coding or anything else you are actually good at. That is why so many people are interested in it, and this is also the reason why they are ready to spend so much money for it.
It is all about connection to the internet, and the ability to obtain some bitcoins through some particular job or activity, or just by buying them on the exchange / from the merchant on localbitcoins.com.
Also, the very important thing is that bitcoin and overall cryptocurrencies, give thousands of opportunities to make money: on investing, speculating, trading, posting , coding or anything else you are actually good at. That is why so many people are interested in it, and this is also the reason why they are ready to spend so much money for it.
Easy because gamblers do not want their identities to be knowed and almost all fiat gambling asks us to verify accounts to able make a withdrawals but with the advent of bitcoin gambling site. we do not need to verify our account maybe that's why bitcoin gambling sites are successful.
The anonymity that bitcoin offer give a big impact to gambling industry. Gamblers who used to be reluctant/afraid to gamble online with fiat now flocked to enliven gambling sites. This mainly caused by the anonymity which bitcoin offers.
I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st most successful casino was Satoshi Dice, which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article
because gambling is challenging, exciting yet fun. we use our whole mind in gambling , in order for us to win a game. we need to stay focus and be wise in everything. we can win a lot of money in gambling as well as we can have many co gamblers friends their. we need to enjoy playing also to avoid losing and to avoid being absent minded in the game.
Easy because gamblers do not want their identities to be knowed and almost all fiat gambling asks us to verify accounts to able make a withdrawals but with the advent of bitcoin gambling site. we do not need to verify our account maybe that's why bitcoin gambling sites are successful.
But to withdraw funds in some of the casino's players need to pay small fees to get back their funds. Only one or two casinos may be paying the withdrawal fees and one of them is fortunejack site. Apart from that other reason are true and the most important one is anonymity. People can play these games from home or any other place with internet without providing any document proofs to these sites makes more comfortable for most of the gamblers to chose bitcoins or other cryptocurrencies.
Don't we pay fees for depositing? even though fee is small, it's still a fee that we have to pay to get our transactions confirmed. anonymity and fast deposit/withdrawal is the most important properties that makes bitcoin gambling successful.
They definitely offer certain functionality that other traditional casino's don't offer.
For example, when I gamble on the website of a traditional casino with a license in my country, I have to wait 2 to 3 days before a payout is even approved and after that another 2 days before the money is on my bank account.
At most Bitcoin casino's, withdrawals are pretty much instant and the games have a pretty low house edge.
For example, when I gamble on the website of a traditional casino with a license in my country, I have to wait 2 to 3 days before a payout is even approved and after that another 2 days before the money is on my bank account.
At most Bitcoin casino's, withdrawals are pretty much instant and the games have a pretty low house edge.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st most successful casino was Satoshi Dice, which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article
Gambling industry has help bitcoin to be more popular, in the past big volume of transactions are coming from gambling activities and it keeps growing now. If you have noticed there are a lot of gambling sites that are operating now, that is because they have seen some great opportunity to make money and they have identified the competition is not that big to serve a big market.i agree with Ziskinberg said because todays bitcoin gambling sites is really famous and maybe people only know bitcoin is just for gambling and they don't realize that bitcoin can used by other ways. bitcoin gambling industry getting successful because gamblers gets easy ways to playing gambling and they don't have to used many documents to gets started. still gambling industry is help bitcoin to gets known by many people in that industry and this is the other reason that bitcoin become famous.
One of the reasons why Bitcoin Gambling websites are really successful is because it's much better to spend money electronically instead of in-person. Since the transactions of Bitcoin is kind of fast if the right amount of money is put into the transaction fee, gamblers don't have any issues with the processing of payments -It's really different with regular cash because it's pretty tough to send money over the Internet without having anyone noticing that the money was moved.
`2. Personal information not necessary` this is probably the main thing, along with `3. No fees during depositing or withdrawing`. I think that some bitcoin casinos offer good promotions for attracting people, that is main thing in any business today, make good marketing good promotions and you have more chances to attract more people. Due restrictions that some countries have, bitcoin is perfect currency for gambling, anyone can use vpn and access bitcoin site, deposit without much bothering, with fiat everything is more harder, people starting to realize that more and more.
Jump to: