Will an increase in bitcoin price affect the gambling industry - page 2.

jrrsparkles

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Quote from: onrise on March 16, 2019, 01:57:22 AM

Quote from: jrrsparkles on March 16, 2019, 01:45:12 AM

The price fall of bitcoin effectsome of the gambling sites to be in losses but ti didn't changed any activities on the gamblers because most of the gamblers convert their money fiat into crypto then started to play with it at the time of they want to play so they are not going to face any losses from it.

When the price rises people prefer not to use it because if they lose the money in gambling then they also miss the bull ride which will happen and as we know it is easy to lose the money than to make it. So chances of using fiat increases .

Chances of using fiat in the form of crypto right which is still same as using their crypto so it is not effecting the gambling atvitities,as I said there maybe effect on the bankroll of the gambling sites when they measure it in USD but for the gamblers 1 bitcoin is always equals to 1 bitcoin.

alisafidel58

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Quote from: Stedsm on March 15, 2019, 06:59:12 PM

Come on, think.
Did it change in 2017-18 period when BTC was at its peak?

It did`nt change the gambling industry but it certainly change a lot of gambling site. Some still remains while other closed (i wonder why).

Quote from: Stedsm on March 15, 2019, 06:59:12 PM

The question should be:
Will an increase in BTC price affect the gamblers?

Good question, Let me answer. Lets say 1B is equivalent to $100 when you are gambling and you want for that $100 to be $1,000. Then the Bull Run went off, price surges from $100 to $1000 in just 5 hours. Would i still gamble? certainly not, ive hit my goal its time to withdraw. Is it just me or other gamblers think this way too when the bull run occurred last 2 years ago.

onrise

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Quote from: jrrsparkles on March 16, 2019, 01:45:12 AM

The price fall of bitcoin effectsome of the gambling sites to be in losses but ti didn't changed any activities on the gamblers because most of the gamblers convert their money fiat into crypto then started to play with it at the time of they want to play so they are not going to face any losses from it.

When the price rises people prefer not to use it because if they lose the money in gambling then they also miss the bull ride which will happen and as we know it is easy to lose the money than to make it. So chances of using fiat increases .

jrrsparkles

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The price fall of bitcoin effectsome of the gambling sites to be in losses but ti didn't changed any activities on the gamblers because most of the gamblers convert their money fiat into crypto then started to play with it at the time of they want to play so they are not going to face any losses from it.

samycoin

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It will not affect the bets if your gamble as far as I know even the bitcoin increase the bets to every online casino still remain. So even the price the bitcoin will increase or decrease its still the same price and actually it depends to the site if their change the range of their bets.

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Quote from: Janation on March 15, 2019, 10:41:21 PM

Quote from: rodel caling on March 12, 2019, 05:54:14 PM

Quote from: kingpin4321 on March 09, 2019, 03:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

Of course have a little bit affect from gambling if the price of bitcoin increase in the coin market cap, my own opinion and reason is bitcoin can contvert in the dollar rate the advantage of this gambler use the strategy in gambling usd and bitcoin betting.

I disagree with this.

Gamblers goal or aim is to win their bets as much as they can and even if the price of Bitcoin or any other cryptocurrencies pumped or dumped, I don't think it will matter. To give you an example, just think of the USD or any other fiats you all know or use in your country. When that fiat is gambled, do you even think what is its value compared to other fiats? No right? What matters is the money or crypto you are winning, nothing more, nothing less.

Agree with you, gambling is no matter with any value of bitcoin because we can buy bitcoin as much as we want. Even price up and down, we still can use money that we usually use in past before pumped or dumped. But maybe when we win, sell it immediately to avoid dump after we get our win.

Janation

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Quote from: rodel caling on March 12, 2019, 05:54:14 PM

Quote from: kingpin4321 on March 09, 2019, 03:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

Of course have a little bit affect from gambling if the price of bitcoin increase in the coin market cap, my own opinion and reason is bitcoin can contvert in the dollar rate the advantage of this gambler use the strategy in gambling usd and bitcoin betting.

I disagree with this.

Gamblers goal or aim is to win their bets as much as they can and even if the price of Bitcoin or any other cryptocurrencies pumped or dumped, I don't think it will matter. To give you an example, just think of the USD or any other fiats you all know or use in your country. When that fiat is gambled, do you even think what is its value compared to other fiats? No right? What matters is the money or crypto you are winning, nothing more, nothing less.

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Quote from: Stedsm on March 15, 2019, 06:59:12 PM

Quote from: kingpin4321 on March 09, 2019, 03:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

Come on, think.
Did it change in 2017-18 period when BTC was at its peak?
The question should be:
Will an increase in BTC price affect the gamblers?
Because gambling industry will always be in profit due to the house edge and gamblers will need to think on their betting strategies and amounts that they used to gamble with, before.

maybe the question would be like that, does the bitcoin market affect the gambling frequency of the gamblers? because what I know, some users hold (donot playing) gambling when their assets fall, but users who have the intention to gamble don't care about the market conditions in crypto. so there is a difference of influence in this matter

Stedsm

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Quote from: kingpin4321 on March 09, 2019, 03:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

Come on, think.
Did it change in 2017-18 period when BTC was at its peak?
The question should be:
Will an increase in BTC price affect the gamblers?
Because gambling industry will always be in profit due to the house edge and gamblers will need to think on their betting strategies and amounts that they used to gamble with, before.

AmoreJaz

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i think we already know the answer to this question. for centuries, gambling sustained their presence in the market, good or bad, they managed to exist.
so with the increase in bitcoins price, it suggests only one thing = another good period for gambling.
no wonder you can see a dice site being launched everyday, a new casino trying to get their audience. so all in all, they are doing a big favour to the gambling industry...

whirlcoin

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Quote from: kingpin4321 on March 09, 2019, 03:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

Bitcoin gambling is more popular nowadays so the people are trying to put larger investment and get it back so it will be very good thing for gambling also to develop very easily and more stable also happen when the Bitcoin was developed.

StarofBTC

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Quote from: Johnyz on March 09, 2019, 04:45:41 PM

Quote from: kingpin4321 on March 09, 2019, 03:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

The value will just chance I think but gambling will remain the same, and those who earn a lot of bitcoin through gambling will be more successful if the price increases. Many gamblers used bitcoin to gamble, and maybe if there’s a new peak again some gamblers will not use bitcoin in gambling for a moment because they want to take profit on that.

Well, I would say if its fiat gambling, there is possibility of it not having any effect but for any online crypto gambling, every increase of decrease tells on the gambler bankroll. Let me use the example of what happened in the month of December 2017. The value of coin that entered the market was less than $11,000 AND IT WENT SO HIGH TO $20,000.

It was obviously a great time for bitcoin gamblers because their bankrolls almost doubled but in that same month of December, BTC dipped under $13,000 and you can imagine that gamers fund decreased by 35percent

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Quote from: kingpin4321 on March 09, 2019, 03:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

I am totally sure that the fluctuations of bitcoin prices have an impact on the gambling industry.
In my opinion, when they price goes down (and the whole market cap), bitcoin becomes a cheaper coin and the volumes on the casinos are getting increased because people play with more bitcoin portions that before.

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Quote from: Symphonized on March 13, 2019, 08:00:50 PM

Quote from: kingpin4321 on March 09, 2019, 03:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

Well for instance investors would be selling immediatly (in case those who want to take out some of the profits they got from the price rise).
Others would just continuing investing a little more till a higher price hit.

This could also bring new crypto users to the market and rise the price even more (since they would be buying more btc)

If you remember in December 2017, when crypto was at its highest value, Many new people jumped into gambling as there was fomo that bitcoin will not stop and may reach 50,000K. When bitcoin prices rises automatically , many new investors will jump in. This will also mean that when people have more bitcoins and crypto, they might play more gambling and hence it will be a good effect on gambling industry also.

Symphonized

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Quote from: kingpin4321 on March 09, 2019, 03:29:13 PM

As we all know the value of bitcoin are down but we are still optimistic about the price bouncing back.
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases

Well for instance investors would be selling immediatly (in case those who want to take out some of the profits they got from the price rise).
Others would just continuing investing a little more till a higher price hit.

This could also bring new crypto users to the market and rise the price even more (since they would be buying more btc)

omonuyak

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Quote from: spadormie on March 12, 2019, 10:24:53 PM

Usually bitcoin price is affected by great news and I don't think that bitcoin price is being affected by the gambling industry.

I think op is asking if increasing or decreasing in bitcoin pricing do affects gambling industry and not the other way. The gambling industry is becoming more popular among the cryptocurrencies enthusiasts now and I think there benefit from it the most.

Ayiranorea

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In most cases people spend on gambling in terms of USD. When there is price increase the spending of bitcoin will decrease in comparison to the present market. This will not affect the gambling industry and as the price increases users feel free to spend on consecutive games with small amounts.

Juliya_D

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Quote from: gilangIDR on March 13, 2019, 01:21:10 AM

This is one of the attractions of cryptocurrency, with price increases so fast that when prices increase, the gambling industry will definitely get the benefits. The value of the assets we have will increase and that certainly makes cryptocurrencies on one track with the gambling industry. The gambling industry will increasingly develop when the use of cryptocurrencies can be maximized.

It is way easier for me to take part in gambling games and pay in dollars and not in cryptocurrency. There is some kind of fear to lose more cryptocurrency in case of its growth. It is easier with dollars. Today it is 1 dollar, and it will be 1 dollar tomorrow

Sum24

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Quote from: Carollzinha on March 11, 2019, 11:06:09 PM

As first and most likely investors will start selling as the price rises, their profits will be way higher then before.
And probabily more people will start joining BTC gambling, even more from alt users if there's a huge gap between each coin price and reliable profits.

Yes it is good for gambling because this way people gets attracted towards gambling as it gives more betting profit and more investment will be done by people, gambling is directly proportional with price of bitcoin so in price will increase surely more people will join for high profiting and more money to earn for gambling.

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Quote from: orions.belt19 on March 10, 2019, 01:05:55 AM

Quote from: goaldigger on March 09, 2019, 05:36:55 PM

I guess not. The basis of the bets and gambling is the recent value. The gambler also controls the bets within just their price range. Whether the value increases or decreases, the recent bets would be the same. For example, the bets now have high digits because of lower value, then vice versa.

Even while the value of bets are the same, I think it would still have some effect.

When you play with fiat and the exchange rate for the particular currency you've been using suddenly increases, wouldn't that have an effect on you? For someone who has unlimited disposable money, it may have no difference for them but for someone who knows the effects of price increases then it could probably affect one's gambling habits.

Also, when bitcoin price increases the transaction fee and time is also affected. When this happens, gamblers may get affected as well. Due to high transaction fees or long confirmation time, they may have a hard time playing or betting unless they resort to the use of other currencies.

Yes, Pertaining to the amount of resources you have, bitcoinvs price really affects because if it drops very low, the tendency is that a gambler would either kept his holdings and not gamble at all.

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