Why Is Bitcoin Gambling Industry So Successful in the World? - page 2.

raven7886

legendary

Activity: 1512

Merit: 1041

Quote from: jagdeepjd on October 24, 2017, 08:53:17 AM

gambling has always been a successful thing because almost everyone wants to try his luck and with bitcoin we get the anonymity no private info needed we can easily transfer bitcoin from one person to another . i personally was not a gambler but since i came to know about bitcoin i started gambling on some dice sites . and there are many like me who did so . so this is one of the many reasons why bitcoin gambling industry is so successful.

Gambling has truly always been and one thing about gambling is that once you enter that world, it is always very hard to come out of it which is why gambling Industry will keep being successful.

I read recently on the amount of cash some of these sites are generating from the gambling industry, most especially since bitcoin came into play and believe me, it is a huge amount monthly. It has always been like this even for casino owners, just that it is even better now with cryptocurrency being involved.

biskitop

full member

Activity: 686

Merit: 104

Quote from: equator on October 28, 2017, 06:53:05 PM

The main reason of it getting success is that the user dont have to give his identification details to gamble , you can just open the account and get access tothe account through bitcoin wallet address and just start gambling. Even the under age users are able to gamble so it got so much success.

It's good enough to make it popular. But, in my opinion for under age players should remain in the limit, because they must not really understand about the rules.

God Fist

member

Activity: 126

Merit: 25

because it allows people to gamble from any location and with any device without having to use any identification or reveal themselves and all they need is a bitcoin wallet, in addition those websites are very dynamic concerning withdrawal and deposits.

equator

legendary

Activity: 1190

Merit: 1002

The main reason of it getting success is that the user dont have to give his identification details to gamble , you can just open the account and get access tothe account through bitcoin wallet address and just start gambling. Even the under age users are able to gamble so it got so much success.

Lionidas

hero member

Activity: 1008

Merit: 1012

I always thought it is because it is much easier to spend bitcoin or crypto for that matter than it is for fiat for the ones who are gambling with it.
You would like to say you spent bitcoin than it would be that you spent a few hundred dollars at the casino wouldn't you?
Especially if it was money you needed to pay your rent with. Embarrassed

JL421

hero member

Activity: 812

Merit: 510

Quote from: BitcoinPC on October 21, 2017, 12:30:58 PM

Quote from: JL421 on October 21, 2017, 11:46:16 AM

It's not so successful but the amount of players are surely increasing every day. The reason behind this is surely the house edge which is max 1% on most of the gambling sites as well as the ease of gambling you need to put some fake details deposit and withdraw with any personal information to be provided

Then i think we should accept that it is successful because you also accept it that everyday players numbers are increasing, also you give us valid reason, in online gambling we could play it even we have no enough money because in it the house edge is very less. In gambling if we want to play but we can't play it because we have no more money, but in online gambling it has solved the problems.

but online gambling also has major risks you can still lose if you gamble online or offline the sites are expanding rapidly you don't have to worry with majority if the sites scam you but first to get scammd you need to get profit unless and until you don't get any profit there is no possible way gambling can work for you

Krikke

member

Activity: 74

Merit: 10

Standing on the shoulders of giants

One of the main reason I believe is you don't need to go through a verification system, hence also when your a minor you can do sports-betting via BTC. Personally I think is it pretty dangerous, specially when kids get addicted to it...
Another reason might be that the withdrawal fees compared to "fiat" sports-betting books are much lower, hence more profit for the player.
BTC has the label of being - and I agree - a high-risk investment, hence this attracts people who like to take a bet now and then.

Just my 2 satoshis Cheesy

MMA

legendary

Activity: 1134

Merit: 1000

Quote from: cjmoles on October 26, 2017, 06:00:43 PM

I don't know how sound the arguments are in the article posted by the OP because a few of the premises are invalid. For example, there are fees associated with bitcoin transactions and some of them are relatively significant ---> a few of the other premises can be refuted also. However, there is no doubt that the bitcoin gambling industry is successful, but I think that fact is due more to bitcoins utility as a vehicle to work around regulatory control than anything else.

I think that most of the people especially bureaucrats and others are very corrupt and they have illegal money which they cannot use openly because of the legal authorities therefore they use these illegal earned money in gambling and the owners of casinos are making huge money due to a high number of gamblers in the world. I think the main reason of gambling success is illegal money.

BunnyShibe

sr. member

Activity: 350

Merit: 250

Quote from: molsewid on October 26, 2017, 06:27:32 PM

First in my own opinion why bitcoin gambling is so successful industry is because lots of people who are using fiat currency and going into physical gambling just to play and now they knew about bitcoin has its more higher value than there using and now tey all play for the sake of the profit and never knew about the risk about it. Since they always playing everyday to earn money.,

In my opinion this industry is so popular and successful because everyone in this world wants the shortest way to earn money in a less time and for that gambling is the only way. Lose or win, depends upon the luck. Many people in this world and I am one of them try their luck in gambling and many people I have seen have become millionaire in minutes because of the good luck and skills in gambling.

Allura74

full member

Activity: 546

Merit: 100

Quote from: MinMan on October 28, 2017, 06:36:14 AM

Quote from: Cacingkemi on October 26, 2017, 09:45:10 AM

I have a simple idea about this,the BTC gambling site is successful because the deposit and withdrawal process is not long.BTC is the only one that has a high value with a price that,especially the simple dice game is not complicated to play it just by picking up or down.the house of satoshi dice was fortunate to buy BTC at a small price at the time and sell BTC at a high price.

I must say it is not about gambling being attached with bitcoin. All those markets that are conceded or somehow affiliated with technology, they are growing amazingly. Reason is so simple, world is going to be molded in a technical ball that have technology everywhere. So bitcoins are easy to use and that is the only one reason, this industry is just getting up more.

Gambling industry is proven to be successful because of its nature that it brings fun and excitement and sometime gives an instant money
of every gamer. That is why there are many individuals who have get addicted. I believe that if you are in the world of gambling you get hard to control
even how easy others to say that every gambler need to put a limit but in reality it is hard for them to do.

MinMan

full member

Activity: 628

Merit: 154

Quote from: Cacingkemi on October 26, 2017, 09:45:10 AM

I have a simple idea about this,the BTC gambling site is successful because the deposit and withdrawal process is not long.BTC is the only one that has a high value with a price that,especially the simple dice game is not complicated to play it just by picking up or down.the house of satoshi dice was fortunate to buy BTC at a small price at the time and sell BTC at a high price.

I must say it is not about gambling being attached with bitcoin. All those markets that are conceded or somehow affiliated with technology, they are growing amazingly. Reason is so simple, world is going to be molded in a technical ball that have technology everywhere. So bitcoins are easy to use and that is the only one reason, this industry is just getting up more.

Betwrong

legendary

Activity: 3374

Merit: 2198

I stand with Ukraine.

Quote from: MyIdeas on October 26, 2017, 06:33:12 PM

Quote from: EdenHazard on October 26, 2017, 02:38:17 AM

Quote from: Betwrong on October 24, 2017, 07:35:43 AM

Quote from: Ewinsane on October 24, 2017, 01:03:53 AM

Quote from: bitalive on October 18, 2017, 09:14:40 AM

Mostly anonymity as no one wants to be marked as gambler these days. Also, decentralization - no one can trace the money you spend or the money you win - helps to stay safe from government and taxes.

Yes both anonymity and decentralization are ensuring our freedom that is the simple reason why bitcoin based the gambling industry is more successful now a days. When gambler prefers their freedom rather than anything else then he will definitely choose bitcoin based the gambling instead of visiting a physical casino where he can spend fiat for gambling. I guess another reason is it is easy to gamble online by buying bitcoin compared to gambling in real casinos.

If an established land based or online casino decides go with Bitcoin then most likely it will succeed, that's what I agree with. But we shouldn't forget that not all the Bitcoin casinos around are profitable. You need big money for promotion if you open a new Bitcoin casino otherwise no one will be playing there.

yes beside a huge bankroll to get started you need a good strategy planner on how they run the promotion effectively , not just throw the free money here and there , never easy really to start from zero building a bitcoin casino .

we can see that nowadays there a lot of new casino popping up but there also who shut down because of various reason, not successfully yet i think.

Starting up a casino or gambling business in any form is not an easy task at all. Business needs a lot of investment and market competitive strategies in order to beat your rivals in market. Indeed there are many casinos who got shut because they lacked proper market plans etc. this business needs to give customers something interesting and astonishing all the time so that they keep gambling for winning money.

That's why when starting an online Bitcoin casino one should be prepared to lose money in the first two or three months. I remember when Primedice were starting their business their faucet was 1k satoshis and it was growing fast with more bets you make even if you never deposited on the site. It was pretty easy to go to 100k from the faucet and then withdraw. I have no idea how much they lost because of that in their first months but now it's a very known and profitable site.

bitcoinmasterlord

legendary

Activity: 1148

Merit: 1006

Quote from: margarete11 on October 27, 2017, 05:43:04 AM

Quote from: Cacingkemi on October 26, 2017, 09:45:10 AM

I have a simple idea about this,the BTC gambling site is successful because the deposit and withdrawal process is not long.BTC is the only one that has a high value with a price that,especially the simple dice game is not complicated to play it just by picking up or down.the house of satoshi dice was fortunate to buy BTC at a small price at the time and sell BTC at a high price.

correct most of the online casinos processed an instant withdrawal this is one if many factors why online casino with help of bitcoin has become a success , they could also play while staying anonymous there is no need for your credit card details and the likes , as long as you own a bitcoin you can play

The simplicity in bitcoin betting, withdrawing bitcoin and depositing bitcoin will be attracting many players to play online gambling with bitcoins that is why the bitcoin gambling industry is so successful in this world. And you are right we no need provide any credit/debit card details to load our money to the gambling sites.

margarete11

sr. member

Activity: 350

Merit: 250

Quote from: Cacingkemi on October 26, 2017, 09:45:10 AM

I have a simple idea about this,the BTC gambling site is successful because the deposit and withdrawal process is not long.BTC is the only one that has a high value with a price that,especially the simple dice game is not complicated to play it just by picking up or down.the house of satoshi dice was fortunate to buy BTC at a small price at the time and sell BTC at a high price.

correct most of the online casinos processed an instant withdrawal this is one if many factors why online casino with help of bitcoin has become a success , they could also play while staying anonymous there is no need for your credit card details and the likes , as long as you own a bitcoin you can play

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: Gameroid on October 27, 2017, 12:56:44 AM

Quote from: gilangIDR on October 26, 2017, 05:51:47 PM

There are two things that cause someone to play gambling. The first is to seek pleasure and the second is to make gambling an income. Both of these bring a lot of people to actively participate in the gambling game. Also currently playing gambling is easy to do, make a deposit and withdraw be an easy thing. Interesting website gambling variations are also a plus. One of the causes is bitcoin, now with bitcoin it is easier to do gambling game, just a few steps we are ready to play gambling. The development of online gambling today is much faster than casino. Due to the more mobile a person's online gambling becomes a first choice for gamblers.

Number of reasons are there which make bitcoin gambling more successful. the first reason is that bitcoin is decentralize and it allow you to play gambling anywhere without changing your money into any other currency. And the second reason is that using bitcoin you can play gambling anonymously. Even your close friends and relative many not know that either you are involve in gambling or not. There are so many other reasons, like you can play gambling while setting in your bedroom. It is more secure to play gambling online while you do not need to have any direct intersection with anyone etc.

This is the thing i do like on bitcoin gambling which you can anytime play gambling games without any need of using your fiat. Just load up with some bitcoin and then you are eligible to play anytime and anywhere you want as long you do have the bitcoins to be used on and not only that you would able to play without disclosing your identity to the public or even on the site itself.

BossMacko

hero member

Activity: 1134

Merit: 502

For me the reason why Bitcoin Gambling is successful is because it is very convenient compared if you are are going to a real casino and gamble in that, you need to travel and the hotels are very pricey in a casino unlike if you will gamble using Bitcoin you can gamble anywhere in your house that will make you feel very comfortable and you can focus more.

SushiMonster

full member

Activity: 305

Merit: 107

I'm going to eat your cookies

Maybe gamblers doesn't know the fact that they're actually losing and winning money since it's in digital form thus you cannot touch it and makes you feel that you're just playing.
Plus it can be so addictive and gives a lot of excitement.
I tried gambling before and it didn't turned out pretty well.
I might still gamble just for fun but I don't want to lose all my money on this.

Gameroid

hero member

Activity: 798

Merit: 501

Quote from: gilangIDR on October 26, 2017, 05:51:47 PM

There are two things that cause someone to play gambling. The first is to seek pleasure and the second is to make gambling an income. Both of these bring a lot of people to actively participate in the gambling game. Also currently playing gambling is easy to do, make a deposit and withdraw be an easy thing. Interesting website gambling variations are also a plus. One of the causes is bitcoin, now with bitcoin it is easier to do gambling game, just a few steps we are ready to play gambling. The development of online gambling today is much faster than casino. Due to the more mobile a person's online gambling becomes a first choice for gamblers.

Number of reasons are there which make bitcoin gambling more successful. the first reason is that bitcoin is decentralize and it allow you to play gambling anywhere without changing your money into any other currency. And the second reason is that using bitcoin you can play gambling anonymously. Even your close friends and relative many not know that either you are involve in gambling or not. There are so many other reasons, like you can play gambling while setting in your bedroom. It is more secure to play gambling online while you do not need to have any direct intersection with anyone etc.

MyIdeas

sr. member

Activity: 734

Merit: 250

Quote from: EdenHazard on October 26, 2017, 02:38:17 AM

Quote from: Betwrong on October 24, 2017, 07:35:43 AM

Quote from: Ewinsane on October 24, 2017, 01:03:53 AM

Quote from: bitalive on October 18, 2017, 09:14:40 AM

Mostly anonymity as no one wants to be marked as gambler these days. Also, decentralization - no one can trace the money you spend or the money you win - helps to stay safe from government and taxes.

Yes both anonymity and decentralization are ensuring our freedom that is the simple reason why bitcoin based the gambling industry is more successful now a days. When gambler prefers their freedom rather than anything else then he will definitely choose bitcoin based the gambling instead of visiting a physical casino where he can spend fiat for gambling. I guess another reason is it is easy to gamble online by buying bitcoin compared to gambling in real casinos.

If an established land based or online casino decides go with Bitcoin then most likely it will succeed, that's what I agree with. But we shouldn't forget that not all the Bitcoin casinos around are profitable. You need big money for promotion if you open a new Bitcoin casino otherwise no one will be playing there.

yes beside a huge bankroll to get started you need a good strategy planner on how they run the promotion effectively , not just throw the free money here and there , never easy really to start from zero building a bitcoin casino .

we can see that nowadays there a lot of new casino popping up but there also who shut down because of various reason, not successfully yet i think.

Starting up a casino or gambling business in any form is not an easy task at all. Business needs a lot of investment and market competitive strategies in order to beat your rivals in market. Indeed there are many casinos who got shut because they lacked proper market plans etc. this business needs to give customers something interesting and astonishing all the time so that they keep gambling for winning money.

molsewid

hero member

Activity: 2170

Merit: 530

First in my own opinion why bitcoin gambling is so successful industry is because lots of people who are using fiat currency and going into physical gambling just to play and now they knew about bitcoin has its more higher value than there using and now tey all play for the sake of the profit and never knew about the risk about it. Since they always playing everyday to earn money.,

Topic: Why Is Bitcoin Gambling Industry So Successful in the World? - page 2. (Read 5557 times)