Topic: Why Is Bitcoin Gambling Industry So Successful in the World? - page 6. (Read 5536 times)
Because it gives user the freedom and comfort to gamble at any part of the world, and it provides gamblers to skip the tedious process of submitting personal identification for the KYC ( know your customer ) verification, bitcoin withdrawal is also much more faster than cashing out your winnings through bank.
Bitcoin gambling has not got to the level of fiat gambling but its slowly getting there, but generally speaking gambling is a successful industry because people are desperately in need of money as they believe it can change their life styles and gambling houses have the liquid funds readily available and people always want to try their luck without putting into consideration these guys are making lots of money.
Bitcoin changed the trend of gambling, In fact bitcoin gave a new life to gambling, in modern time it was difficult to find time and visit a casino for gambling, bu now it has become so easy and one can play gambling without visiting any casino from their houses. You even do not need for any specific time for playing gambling but can play it at any time. You can also visit different gambling site and can select your own choice for playing gambling.
So to gambled you really considering going to a casino just to play gambling?
Even without bitcoin existence, online gambling is healthy. And with the arrival of bitcoin, from healthy it grows even more.
You even do not need for any specific time for playing gambling but can play it at any time. You can also visit different gambling site and can select your own choice for playing gambling.
You can also do that to a normal fiat online gambling site.
Bitcoin is the digital currency of the future and all that you can pay with it becomes very popular and in demand among the owners of crypto currency.
Gambling is very succesfull now and whenever you go gambling is everywhere since bitcoin can be easily use into gambling industry we had online now where you can easily withdraw bitcoin too business man use bitcoin not only for the sake of profit but it was really fun too.
legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform
Bitcoin gambling is so successful because it's very easy for the operator to handle its earnings and avoid tax payments if they use bitcoin mixer and then they can claim that they have bought the coins 2 years ago and are just selling it now without any connection to their online business.
Bitcoin has also a huge advantage for customers who play from a restricted country as governments can't control the transfers.
Bitcoin has also a huge advantage for customers who play from a restricted country as governments can't control the transfers.
Yes, I think those are good reasons. Something similar happened when fiat gambling industry hadn’t been regulated yet. Most casinos operated from tax havens and they avoided tax payments. Players were supposed to pay taxes for their gambling earnings in many countries but online gambling wasn’t controlled by authorities and most people got away without paying taxes for their earnings. Now that fiat casinos are largely regulated, crypto ones have taken their place.
I think another reason not mentioned yet is that problematic compulsive gamblers who have self-excluded from playing in fiat casinos can compulsively play in crypto ones as there are no self-exclusion features and the like (and they would be difficult to implement).
Well people feel comfortable placing bets at home and watching their favorite teams play(i.e. Sports bettors) and so we have fully embraced Bitcoin and other cryptocurrencies in the betting world because it brings us that ease of accessibility and privacy.
I believe the arrival of bitcoin has brought so much benefits in the world of gambling that the use of fiats.One major thing that it brings with it most especially is the player's anonymity among other things. It has also helped with the payment processing issue that has been a major challenge for gamblers in the past.
Well people feel comfortable placing bets at home and watching their favorite teams play(i.e. Sports bettors) and so we have fully embraced Bitcoin and other cryptocurrencies in the betting world because it brings us that ease of accessibility and privacy.
I believe the arrival of bitcoin has brought so much benefits in the world of gambling that the use of fiats.One major thing that it brings with it most especially is the player's anonymity among other things. It has also helped with the payment processing issue that has been a major challenge for gamblers in the past.
I still don't call the bitcoin gambling industry as very successful at this stage since we all know that the industry is worth trillions of dollars. So what bitcoin casinos and betting earning right now is just a very very small chunk of the whole industry. But we will be expecting a fast growth on bitcoin use as people will realize soon its advantages.
Well to be fair, bitcoin gambling is still young but its growth is undeniable. There's a big chance that it can overtake the convemtional online gambling industry once bitcoin gets more supporters.
I still don't call the bitcoin gambling industry as very successful at this stage since we all know that the industry is worth trillions of dollars. So what bitcoin casinos and betting earning right now is just a very very small chunk of the whole industry. But we will be expecting a fast growth on bitcoin use as people will realize soon its advantages.
Bitcoin has become popular for paying for gambling because it is easy to use and allows you to remain anonymous. Thus, where gambling is prohibited, you can use bitcoin and enjoy the game.
beside that we don't have to fill any document and we only need to send the amount into our address that we can found in our account. this makes gamblers can feel save to playing gambling so bitcoin gambling industry still survive and i think the gambling sites reach the big money from gambling section. but if the gambling sites don't care with their member, its just can help them to get successful in the industry because they need the support from their members to stay a long time business.
Bitcoin has become popular for paying for gambling because it is easy to use and allows you to remain anonymous. Thus, where gambling is prohibited, you can use bitcoin and enjoy the game.
gambling game industry is one of the most popular by some people in the world today. those who play gambling usually think that playing gambling can relieve stress and some have been affected by the gambling system that will make them addicted. we can see that every day there is a new casino / gambling website. This proves that some gambling games are very appealing to many people. besides that currently bitcoin has helped the development of online gambling game, gambling game seemed easier to do. we can withdraw and deposit very easily. that has made the gambling industry very rapidly growing.
I think some of the country considered that online gambling is a way to earn bitcoin and that the reason they play bitcoin online gambling. That's why bitcoin gambling so successful in the world.
No, they don't think it's a way to earn bitcoin for their citizens. There's no even country that support bitcoin gambling and has a license to the government because it's prohibited. The gov't doesn't only recognize bitcoin as a currency as of now that's why many gamblers are shifting to bitcoin and instead of visiting a casino they would love to stay at home and gamble all day long tax free.
This is actually true. In my country, my friend interviewed the lawyer at our Central Bank (BSP) regarding the status of bitcoin and they said that they see bitcoin as property, therefore not subject to legal tender (in payment for debts, etc.). This is also mostly true to most countries since no government agency supports gambling and online gambling, as it is hazardous to the society.
To answer your question, gambling in general as a business is very successful due to its nature, being a risk to both the owner and the users. Most gamblers keep coming back to casinos thinking that they will gain profit in-payment for their debts or for entertainment purposes. This results to an endless cycle of users who continuously participate, thus making the industry very profitable.
I wouldn't call bitcoin a success yet.
Think about it like that, the total market cap of bitcoins is about 70B $, compared to about 50T$ of the stock market industry.
The whole stock market worth about 1000 times more then the total bitcoins in the world.
I think that bitcoin still has an huge place to grow and if it happens , we , the early adopters are going to be multi- millionaires.
Think about it like that, the total market cap of bitcoins is about 70B $, compared to about 50T$ of the stock market industry.
The whole stock market worth about 1000 times more then the total bitcoins in the world.
I think that bitcoin still has an huge place to grow and if it happens , we , the early adopters are going to be multi- millionaires.
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 of anonymity which is stated in the article. Some people doesn't want other people to know that they are gambling because there are some perception that once a person gamble, he has a possibility of getting addicted and even some people would create other stories as well referring to other events and this would make the person who gamble embarrassed so when someone is gambling anonymously, no one knows that he is the one gambling and if he won, no one will know that he is the one who won which is quite safe in his part.
I think it's because many gamblers do not have access or gambling facilities, especially gamblers who come from countries that ban gambling. The existence of gambling in bitcoin gives access and facilities for them to gamble and gamble in bitcoin still be able to cover their profile, their identity can be kept safe in bitcoin gambling. So maybe gambling in bitcoin is more effective for them.
Gambling makes people addict in no time, without them ever realizing it. With every shot, their urge to play increases! In the beginning, everyone has a good control but once they try to give up on it, they realize how much they have grown used to it. I advise you to quit it.
Because you gonna be always loser,that's the plan,the plan of casinos
That's not their only plan of letting their gamblers lose all the time. There are some strategies that they let someone win with big amount so that he will attract other gamblers to play on that casino. And once he brought up many gamblers that will be the recovery time for the casino's by always taking the favor for those gambling games they manage that's why I only play with those games that are provably fair.It is nothing like they allow you to win money by some means if that is the case then those games are no more probably fair games. But in online, most of the trusted sites are allowing you to verify their bets so they can't-do this kind of things. Gambling itself is a most unpredictable thing so sometime you may win big but in the long run, everyone losses and this thing casinos know so they just encourage you to play longer to take back your money.
Because you gonna be always loser,that's the plan,the plan of casinos
That's not their only plan of letting their gamblers lose all the time. There are some strategies that they let someone win with big amount so that he will attract other gamblers to play on that casino. And once he brought up many gamblers that will be the recovery time for the casino's by always taking the favor for those gambling games they manage that's why I only play with those games that are provably fair.Anonymity is the major reason why many prefer Bitcoin. Maintaining it in the e-Wallet is completely anonymous. For instance, depositing and withdrawing through Bitcoin eWallet is anonymous on its own, but in a really great Bitcoin casino, the process of signing up also is completely anonymous. Sites with features like these are the ones that attract many players. Cause gambling is still illegal at some countries, so this is the best feature to free gambling.
I am not sure why people want to stay anonymous while gambling. It is safe to stay low profile but honestly, not a lot of people are interested in guys like me. They won't even care if I roam around openly. Therefore, it is better to keep the bitcoin in wallets and wait for the price increments. Bitcoin is the future currency and it will be the most expensive asset also so I suggest not risking it in any way.Don't you really know why it's important to be at least partially anonymous when gambling? Many people see it as an addiction or some other type of flaw, so players don't want to openly admit that they're gamblers. You won't see it under "interests" in any resume. People sometimes want to hide that they're gambling from members of their family and sometimes those people have access to their bank accounts.
Jump to: