Topic: Will an increase in bitcoin price affect the gambling industry - page 4. (Read 765 times)
For me, there are effects on the gambling industry, we can consider the positive effect of it. Like there are more people will use bitcoin for gambling, the adaption will grow not only in gambling but also on cryptocurrencies like Bitcoin. That's my opinion about the effect of Bitcoin on the gambling industry.
Bitcoin prices will definitely have a huge impact on various things related to the use of bitcoin. including the gambling game industry, it is difficult to predict indeed, but in its development when the price of bitcoin increased, there will be more use of bitcoin and also the gambling game market will attract more gamblers.
We all know that gambling is indeed growing everywhere as if they were like a mushroom but the increase in the price of Bitcoin will not affect the house and the gamblers. Online gambling sites will adapt and adjust according to the recent price. The only changes that you will notice are the amount of cryptocurrency you are going to bet. As the price grows in USD the amount that you have to bet will become lesser and lesser as the price of Bitcoin is growing.
Interesting question indeed. I introduced with bitcoin exactly from crypto gambling. Any affect on the industry I see only in appearance of new crypto gambling sites, new games, new crypto entertainments.
Precisely, not the bitcoin itself because no matter how good the bitcoin is if you’re offering poor services with your gambling sites then don’t expect to gain more gamblers. This will still depend on every gambling sites, for sure the most trusted one will enjoy bigger profit. 
An increase in Bitcoin's price means that more people will notice Bitcoin and potentially invest in it, and by extension people that are gamblers might also notice Bitcoin and put some money into BTC or other cryptocurrencies to gamble with, and this'll result in a growth in crypto gambling.
Cryptocurrency-based gambling's been growing over the last few years simply due to an increase in demand for anonymous gambling alone too. We're currently in a bear market and likely not out of it yet as there could continue to be a few months of sideways action or even a new low in the next few months, but crypto gambling will likely still grow even through these times simply because people are willing to pay a premium to gamble anonymously.
Cryptocurrency-based gambling's been growing over the last few years simply due to an increase in demand for anonymous gambling alone too. We're currently in a bear market and likely not out of it yet as there could continue to be a few months of sideways action or even a new low in the next few months, but crypto gambling will likely still grow even through these times simply because people are willing to pay a premium to gamble anonymously.
Interesting question indeed. I introduced with bitcoin exactly from crypto gambling. Any affect on the industry I see only in appearance of new crypto gambling sites, new games, new crypto entertainments.
I don't think the gambling industry will surge if the price of Bitcoin soars too, if you see it on the road from time to time, we don't find the gambling industry so much because every year it's only exposed to any media and that's not important because gambling demand is huge by itself without help because this is a game that can be profitable or not they come to have fun or just take advantage, I don't think it's too influential because bets will still be adjusted to current market prices, we wait in the next few years how it might overflow .
When bitcoin is in bearish trend it will affect the cryptocurrencies market no doubt but not buying and holding of investing into ico. We can see that currently the only industries that remains strong in the face of this bearish market is gambling and betting industries and that is because this two industries can survive without much infect in bitcoin pricing.
Of course it does affect the gambling industry as they obligated to enable more altcoins who have lesser value, if you are trying to gamble straight from your Fiat money and you're just converting it to Bitcoin then it'll cost you more obviously.
I've known some gambling site that's using chips and it's quite helpful for some players who want to gamble for a much lower balance.
Well yes, The bitcoin price will affect the gambling industry and that's a fact. However, even though the bitcoin price could have an effect on the said industry, it is not so much drama and can be considered at least. But if you are talking about the online gambling industry, Bitcoin will technically affect the industry in many ways. But ain't be able to speculate how much will it affect the industry as well but it will. I've known some gambling site that's using chips and it's quite helpful for some players who want to gamble for a much lower balance.
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
It always depends on the gamblers. However at some point, as Bitcoin's price increase, in my opinion the amount of Bitcoin being gambled would be lesser since its price increases thus a gambler with somehow trade for a constant value would gamble lesser amount of Bitcoin. This assumption is not certain as there is no existing statistics towards the amount of Bitcoin being gambled for all gambling sites in crypto. Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases
It's isn't affect to much if the downtrend or uptrend is not significantly happen.
Let say if that happen significantly :
Uptrend = gambler will gambler with lesser amount
Downtrend = the gambling owner will adjust max bet , min wd ,etc
Let say if that happen significantly :
Uptrend = gambler will gambler with lesser amount
Downtrend = the gambling owner will adjust max bet , min wd ,etc
Of course it does affect the gambling industry as they obligated to enable more altcoins who have lesser value, if you are trying to gamble straight from your Fiat money and you're just converting it to Bitcoin then it'll cost you more obviously.
I've known some gambling site that's using chips and it's quite helpful for some players who want to gamble for a much lower balance.
I've known some gambling site that's using chips and it's quite helpful for some players who want to gamble for a much lower balance.
Gamblers usually calculate the USD value even if they use bitcoin in gambling. So for example if anyone to gamble with 100$, in high price of bitcoin there will be less satoshi used. So there will be no overall difference to gambling even if the btc prices reaches 20,000$ again.
Yes, they are calculated in USD but they are using Bitcoin when it comes to deposit and gamble, and I think in that matter they are using Bitcoin instead of fiat currency. So, on my own, there's an effect on the Bitcoin price in the gambling industry. Especially the gambling sites only accept cryptocurrency to deposit and play not the USD. You may also visit windice.io as what I have known they accept crypto for gambling deposit.Well every online gambling site will accept bitcoins and crypto and i would suggest to use the old trusted sites rather than trying the new ones.
If bitcoin become expensive, then people might not use it for gambling due to its high value. They may use other altcoins like ETH etc which will be low in value as compare to bitcoins.
its not bad to try new gambling sites because you can often find new goodies with them . and also not all online gambling sites will accept bitcoin or crypto some of them only accept old payment methods like paypal , credit cards and alike . also , not all will use altcoins whenever the value of bitcoin drops . more people will actually use bitcoin because they can earn huge income easily due to the bigger value of bitcoin .
Gamblers usually calculate the USD value even if they use bitcoin in gambling. So for example if anyone to gamble with 100$, in high price of bitcoin there will be less satoshi used. So there will be no overall difference to gambling even if the btc prices reaches 20,000$ again.
Yes, they are calculated in USD but they are using Bitcoin when it comes to deposit and gamble, and I think in that matter they are using Bitcoin instead of fiat currency. So, on my own, there's an effect on the Bitcoin price in the gambling industry. Especially the gambling sites only accept cryptocurrency to deposit and play not the USD. You may also visit windice.io as what I have known they accept crypto for gambling deposit.Well every online gambling site will accept bitcoins and crypto and i would suggest to use the old trusted sites rather than trying the new ones.
If bitcoin become expensive, then people might not use it for gambling due to its high value. They may use other altcoins like ETH etc which will be low in value as compare to bitcoins.
Gambling will always be present no matter what but if bitcoin price increases, I believe that more gambling sites will be created and so the gambling industry will continue to grow. Even without the significant increase in bitcoin's price, we are already seeing that gambling site is being launched everyday. How much more if the bitcoin really soar high? Come to think of it. 
Gambling is one of the activity which found for centuries so it won't get affected because of the price increase or decrease in very high extent,they maybe some people who will not play when they have bought their chips when the prices are too high but apart from it people who are gambling daily will convert their fiat into crypto so there won't be much difference. 
Then we could see there is more people will become addicting to gambling because they still playing gambling. They don't need to spend huge money in one-time only, but they can use for example $100 in bitcoin to play. But I guess that there are people who will deposit more than 1 bitcoin so he can play any games he wants continuously.
Getting addicted to bitcoin gambling shouldn't have any correlation to the price of Bitcoin. If they're in profit because of the price it's their decision to choose between stopping or playing more and they could also get addicted when the price drops. 
Gambling will always be present no matter what but if bitcoin price increases, I believe that more gambling sites will be created and so the gambling industry will continue to grow. Even without the significant increase in bitcoin's price, we are already seeing that gambling site is being launched everyday. How much more if the bitcoin really soar high? Come to think of it.
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 think maybe only how much in bitcoin people will bet, only that. People will still like to gambling and change of price wouldn't really affect for gambling industry. Or maybe people will change to other coin to bet because of fee. Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases
Gambling is improved a lot when comparing to the previous time it is known by everyone but the development is based on how people get attracted to gambling especially cryptocurrency are made a huge part in the development of this field so I think if Bitcoin will develop the gambling field is also developed.
Nothing would change. The gambling owners would simply adjust to the right USD price equivalence. Some that are 100% crypto based gambling would probably not adjust when price goes up or down.
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