Topic: Why is Gamble gaining more fans than Bitcoin? - page 10. (Read 1404 times)

It's not about the risks but more so on entertainment and excitement you get from gambling let's admit it if you get lucky from gambling you can win ten times or even higher of investment or bankroll in one session before Bitcoin comes into existence, it already popular and casino platform are already making huge profit, its accepted openly in many countries compared to Bitcoin where even if they allow it to be traded its under strict regulation, government don't want people losing their money from investing but they are ok with people losing money in gambling because they believe this is the entertainment they got from gambling platform.
Both Bitcoin and casinos benefited from each other, they made each one popular Although investing in Bitcoin has less risk than gambling, gambling satisfies our human needs to be entertained.

It's because gambling bring a different feeling to individuals, there is adrenaline that you feel in the body when you play especially if you are winning big. And obviously gambling has been with humans ever since so it's like it is engrain to us whether we like it or not. And there are individuals who like to have quick money, so instead of investing and having this kind of waiting game for bitcoin like when is the next bull run to make huge profits etc, they will just throw their money on gambling. Maybe there are gamblers here who plays and then invest on BTC at the same time.

With the rise of online crypto casinos, more and more people are also discovering these online gambling sites.
Most people are familiar with gambling, whether it is offline or online, whereas, bitcoin investments is not for all.
As you said, gambling has been here since humanity existed, so it is no rocket science why people know how to gamble rather than invest in a new digital currency.
Besides, most of these online casinos accept small amount of deposits like $5-10, so for them, they can already have some fund with that amount of money.

First of all I wanna say the popularity If you look back a little, you can see that gambling has been around for ages and has been associated with the culture of different people or communities, and in this regard, bitcoin is a new technology that has emerged only a few years ago.
Then in terms of accessibility, gambling is easier than Bitcoin, there are many people in the world who are ignorant about technology but are involved in gambling because they can join here even if they don't have much knowledge about technology. Moreover, Cryptocurrency or Bitcoin has been kept illegal or banned in many countries of the world. In this case too, an obstacle has been created for bitcoin.
Moreover gambling is used for entertainment purposes and on the other hand Bitcoin is an investment side, and not everyone investors.
Risk is everywhere but I won't think that there is any compare should be on gambling and Bitcoin because these two things are different. Even then I from my personal viewpoint gambling is most and more risky from anything, yes it's true that gambling can take a big amount of profit in a short-time and it can be also take your funds in a short-time. And on the others hand if I talk about bitcoin it's a secure place for investment and if you invest in it on a right time(like now cz it's on a good now still) then it will guarantee that you can gain some good profit from it.

People want fast money that’s why I believe the are jumping into gambling because that’s the only place they know they can make quick money, but most of them are always losing big, just few of them are winning, they don’t know it’s better to hold you bitcoin and have peace than gambling and losing. When gamblers are losing, they are always having believe to win one day. But as a bitcoin investor you need to have patience, if you can’t hold your bitcoin for long term, then you might not really be making profit, but people are always finding it difficult to hold, that’s why most of them always end up gambling. If their is a way you can make quick money from bitcoin, am sure that’s what people will be doing now, but unfortunately their is nothing like that, anyone promising you quick money in bitcoin investment is just trying to scam you.

Gambling has been there since the existence of man and it has being used as a means of entertainment in festivals and some events. So many people involves in gambling from a teen age based on the company that they keep. Gambling can easily be done with little funds and so many people see gambling as a means to make quick money because they have seen people who hits the jackpot and their lives never remained the same.

Bitcoin is different because is a new technology and bitcoin investment needs patient for one to be able to benefit from it. The people who are eager to make quick money will prefer gamble to bitcoin,which take four years for one to make profit. Something new is always hard for people to believe in it easily,it needs a gradual process.

I think that's wrong, the risk in gambling is much higher than that in Bitcoin. Gambling is highly unpredictable, whereas with Bitcoin you have a good idea of how price volatility works, and in the long term it can lead to such a good profits for those who hold onto their Bitcoin for a long time.

I believe there are many gamblers nowadays because they find it enjoyable and addictive at the same time. They prefer gambling as it promises quick riches, unlike investing in Bitcoin which requires patience and time to make a decent profit.

At first, it is not fine to directly compare gambling to bitcoin investment. The former is seen mostly as an irresponsible act while the later can give prestige to the investor.
Talking about why gambling has more fans or gaining new comers than the later. The answer is simple.
Bitcoin is less than 15 yrs old
Gambling should be as old as the world
Gambling is rooted while Bitcoin is seeking breakthrough.

The minimum age for both gambling and bitcoin investment is 18 years though some exchanges allow even teens to invest in it but the history of gambling have been dated far back in the AD'S before Bitcoin was created and in as much as Bitcoin is a good investment it's still not considered by many people and some don't even know about it or how to invest in it, also the volatility of bitcoins price have made it difficult for most people to consider making investment in it
 However the risk in gambling is greater because you could buy and hold bitcoin for a long term and sell to make profit when the price goes high but you can't get back your many when you lose due to wrong predictions in gambling, even though most online casinos offers cashback where you get 20% of your money when you lose one could still try to recover their lose and lose against but the thing is a good number of people who are not ready to go into a long term investment would always fall back to gambling because it's  easy to learn and they consider it an option to get rich quicker not minding the risk in it.

If you are pertaining to the whole gambling industry including fiat physical and offline gambling then you are right since gambling exist way longer than Bitcoin. Almost all people knew gambling because it’s already part of human culture especially adulthood.

Comparing the general gambling to Bitcoin is absurd comparison since they are different type and different age of introduction.


Smh, Gambling is the riskiest activity that involves money because as the word already implied. You are gambling while Bitcoin is just an asset that continuously increasing its value in long term. Bitcoin is not risky if you will just hold it. The risk part is when you are doing leverage trading and making positions both sides.

Corroborate you, Bitcoin is playing the most important role in the world of crypto gambling. Since the creation of Bitcoin, the gambling platform has become an industry and the government has also been able to earn huge revenue from it. But I don't think that's what OP emphasizing. Because gambling and business are two different things. Bitcoin is a means of payment and can be used for trading. Casinos use Bitcoin as a fast, reliable and secure payment method. What the two platforms have in common is risk, but there are also major differences between these risks.

Generally a gambler can multiply his money quickly in gambling simultaneously can losing all his money. This is unlikely to be the case with Bitcoin investments. This will not make an investor completely looser. But if any investor can hold it for a long period of time there is a possibility of getting good profit.

People are more interested in gambling than Bitcoin because gambling is addictive once played. People think gambling can be more profitable than Bitcoin for which they live betting. I have noticed that there are many people who prefer to gamble rather than invest in bitcoins, they risk making more money with less money in gambling. In fact, people are more attracted to gambling because when a gambler places a bet, he has a hope that he will win the bet and get more money profit. There are many people who have become overnight millionaires by gambling and seeing them all other people decide to follow that position. But what I think is better to invest in bitcoin than gambling because investing in bitcoin has no chance of risk but gambling has absolute risk. So those who still choose Bitcoin as their main source of investment will be able to earn well in the future. And if he loses his money once by gambling, he may face huge losses in the future.

Where is your statistical data to back it up, do you know the number of Bitcoin investors and that of the gambler or it is an assumptions that comes from thin air. I hope you know that Bitcoin open way for gambling because of its value and making funding easier for gamblers but not everyone in gambling hold bitcoin. You can't convince me out of this unless you have evidence to proof otherwise that we have more fans of gamblers than Bitcoin.

Using this forum as example, so many people including me don't know that bitcoin is been used to facilitate deposit instead of using the conventional bank transfer and other means of making payment but with the arrival of bitcoin, everything became easy to use today and that is how bitcoin won over gamblers to using bitcoin(gamblers + investors) but not everyone in gambling like to used BTC but the of bitcoin out number that of gambling as you claimed.

Bitcoin is boring when you compare it with gambling which is a fun activity and something you can make money more quickly than bitcoins where you will have to be patient and wait for a period to profit from your investment. Also Gambling has been more widely accepted than bitcoins and cryptocurrency is some places. There is barely a place (I think) that there is not one form of gambling even if it is their local games, but there are many places that bitcoin is not even known.

The difference is that one of them is possible and the other is not. If you gamble to win the jackpot then you will most likely lose, there are only a few people who would win, but you will most likely lose, the chance of that is not even 1% to get it, which is why you should not aim for it. Whereas the possibility of becoming richer by holding bitcoin as long as possible is there, and it will make you richer.

I am not saying this just because I am invested into bitcoin, but you can check the last 10 years and see the number of people who have been gambling for the past 10 years and check how many of them are rich and check the people who have been in the bitcoin world for 10 years and see how many of them are rich. That should tell you the answer.

Incorrectly comparing bitcoin to gambling in the first place, bitcoin is an opportunity for investors and the same time asset, in addition to being used in businesses. Though gambling is also a business class.

The only difference is that Bitcoin once you invest a long term here even if you go back to the wallet after a year the profit can be great. Whereas in gambling it is not like that, it cannot gamble if you do not deposit money.

No, the risk in bitcoin hodling is not more than gambling risk except you are trading it but if you are hodling bitcoin then you have a chance to still have your coins but in a lower value but gambling and trading bitcoin could be seen as same risk because if you lose you won't recover that particular chance except you make another bet or take another trade order.

It is because we share different definition of "thrill".

People who are addicted in any kind of gambling is after the thrill and excitement hoping they could win the jackpot in the lottery for example, so they buy tickets every single day even though they know that the chances of them winning that is like zero percent, since it's all about luck.

Bitcoin on the other hand is a new kind of thing to them, so they really don't care about it, especially the old folks that only knows fiat and gold. Other people just don't really care about investment, so that's why.

You're comparing a car with an apple, it's completely different thing.

Gambling has been exist since a long time ago and anyone can gamble without Bitcoin, while Bitcoin is still 14 years old and there are many countries still not able to make a decision toward the acceptance of Bitcoin. The reason why gambling gain more fans is people tend to choose a quick making money even though in the long run they will lose, it's opposite to Bitcoin.

On the contrary, I would say that the risks associated with gambling are much higher than with bitcoin. How many gamblers do you know who have become rich? Their units. How many people do you know who became rich with bitcoin? These are clearly more so. If the well-being of gamblers depends on luck, the theory of probability and RTP, then that of bitcoiners depends only on their patience, endurance and ability to wait. The gambler's winnings don't depend on him in any way, while the bitcoinersr's "winning" depends directly on him: on the moment of buying and selling btc.

There are more gamblers, because the entry threshold is lower in this area: anyone, from a child to pensioners, can gamble, where no special knowledge, skills or abilities are required. Simply put, gambling covers almost all segments of the population, ages, social status, while bitcoin is a narrower area. Passion for a bitcoin requires at least a superficial knowledge of IT, technology, economics and finance. So it turns out that gambling is more accessible to the average person than bitcoin. Although, in order to buy btc, wait about 4 years until the next cycle, sell and earn, by and large, you also don't need to be a genius.

Gamblers rely on luck and a miracle to win, while bitcoiners rely on halving, bullrunning and technical analysis. The first is like believing in magic, and the second is like believing in science. In my opinion, the latter will surely win in this fight.