Topic: Will an increase in bitcoin price affect the gambling industry - page 5. (Read 737 times)
The development of Bitcoin economy will definitely affect the gambling field in a positive way because the development of gambling will depends on some of the changes in the development of cryptocurrency field so it can be a huge important thing develop both in the same way is probably the right way.
Don't think so,if someone is doing gambling regularly they will keep doing it no matter of the prices is high or low,they just want to bet with cryptos what they have and earn more cryptos here value not matters.
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. of the current price it's up to them to take it, as we knew gambling is already been there whatever the price bitcoin have, and it's tested between the lower value and the big bull last 2017.
Noticing that the gambling industry keeps growing, even the fluctuations didn't harmed anything around this industry.
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 owners/house
- No matter what price do bitcoin have business must go on and there would be no changes on their side.They
are aware with the fluctuations which do affect their bankroll value but even on a dump market they can accumulate much more bitcoin
from to its users and when markets tends to rebound then it would be a win-win for them.
If the price increases heavily, changes can be made I know one gambling site reduced their max profit when Bitcoin's price was above $10k. - No matter what price do bitcoin have business must go on and there would be no changes on their side.They
are aware with the fluctuations which do affect their bankroll value but even on a dump market they can accumulate much more bitcoin
from to its users and when markets tends to rebound then it would be a win-win for them.
Yes it does and in fact I think gambling industry is effected by the cost of Bitcoin transactions.
For example, someone may be more inclined to send their BTC if the cost is 1 Satoshis/vbyte | 0.00001 BTC/KvB
However, if the price is high such as 50 Satoshis/vbyte | 0.00050 BTC/KvB, then people may not be in such a hurry to send their BTC to a Casino.
So probably along with price rise, lightning network will become much more popular among online casinos.For example, someone may be more inclined to send their BTC if the cost is 1 Satoshis/vbyte | 0.00001 BTC/KvB
However, if the price is high such as 50 Satoshis/vbyte | 0.00050 BTC/KvB, then people may not be in such a hurry to send their BTC to a Casino.
I'm not aware of any casino that makes LN compatibility as an advertising, promotional aspect and this will change soon.
Even with current exchange ratio, this could be a good idea, always better to optimize costs as much as possible.
Other than that, I don't think much will change in the industry, at least if it comes to bitcoin prices.
Gamblers usually calculate the USD value even if they use bitcoin in gambling. So for example if anyone to gamble with 100$, 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. 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
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases
Yes we all do have an optimistic thoughts about the price of Bitcoin to rise up again within the whole year of 2019 as well as the prices of the other existing cryptocurrency because as we all know, Bitcoin is not the only cryptocurrency being used by gamblers to play gambling because there are already online casinos who uses altcoins as well. Well, in my thought, maybe the gamblers will be encouraged more to go gambling because many people are hesitant to use their Bitcoin because they are saving it for good so it might took an effect in the gambling industry that many people will get to engage into gambling once Bitcoin was back into its high price once again benefiting us all who holds into it. Just like mine, I am not hesitant to use my Bitcoin into playing into the online casino I am currently into because I manage my deposits in terms of Bitcoin since they accept cryptocurrency for deposits to be able to play their variety of games plus have an opportunity to receive their welcome bonus for doing your first deposit on 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
GAmblers has they’re own currency used to bet so I don’t think that increases of bitcoin prices will effect the gambling industry.Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases
And why need to have changes in this way when the people itself has no things to do for this
But we will learn the effect if the bitcoin price increase sooner
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.
I think it already did, knowing from those early gambling sites where they have reached the part of Bitcoin being under $1000, they have already profited from it a lot. Additionally, if you have made some money with investing in different sites, it does affect it for sure.
Maybe another thing to consider is that when the price is high, the lower number of High-Rollers would be willing to play. I don't know, and it seems logical to have that because if you think about the amount of BTC they are risking, it's a lot. I'm not a high roller, but I would be pretty scared to bet a significant amount though.
Maybe another thing to consider is that when the price is high, the lower number of High-Rollers would be willing to play. I don't know, and it seems logical to have that because if you think about the amount of BTC they are risking, it's a lot. I'm not a high roller, but I would be pretty scared to bet a significant amount though.
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
GAmblers has they’re own currency used to bet so I don’t think that increases of bitcoin prices will effect the gambling industry.Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases
And why need to have changes in this way when the people itself has no things to do for this
But we will learn the effect if the bitcoin price increase sooner
I think it depends. If it will be increased to more than 10000 dollars probably will impact the gambling industry as people will play less money and will be more fanatics when it will come to spend their bitcoins.
An increase is not in the horizont so the gambling industry will continue to flourish.
An increase is not in the horizont so the gambling industry will continue to flourish.
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.
I have been in the gambling scene for Bitcoin for a few years and I can say that yes, the price does affect a few things. The most obvious is when the price was at ATH. People were really feeling rich and so they did not mind to gamble a lot of coin because they were sure the price was going even higher. Can you imagine playing even 0.00005 BTC was playing with 1 dollar!
Now, it feels more painful for people to play 1 dollar because it is 0.00025 BTC. Five time more!
Now, it feels more painful for people to play 1 dollar because it is 0.00025 BTC. Five time more!
I think it depends. If it will be increased to more than 10000 dollars probably will impact the gambling industry as people will play less money and will be more fanatics when it will come to spend their bitcoins.
An increase is not in the horizont so the gambling industry will continue to flourish.
An increase is not in the horizont so the gambling industry will continue to flourish.
If bitcoin grow of course the impact in gambling are many like some users will withdraw some of their btc then sell it in high then users will stop if market stay then there's a possible also that market will drop after because if many users continue to sell btc little by little i think there's a possible that this will drop,Moreover if you deposit or risk some btc in gambling for me withdraw only the profit in that
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
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases
If we talk about bitcoin gambling, the only effect can be about the amount wagered. Once it increased a lot, the wagered amount can be less than once it is cheaper although the value is the same in fiat money ($). I do believe most bitcoin gamblers are still using $ or other fiat money to give a limit on their gambling activity. So no matter how much is the bitcoin price, they will still use $ to make a limit on their bets.
In my opinion, the sudden price change on the market would surely not gonna affect much with the gambling industry and the only thing that will be affected if some gambling sites would change their fee or the needed money to play on their site will surely change the amount, But the thing that can affect them will be if the price of bitcoin turns to zero then that can sure affect their business, but well that will sure not gonna happen because Bitcoin will forever reign the cryptocurrency market,
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
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases
This question has been asked 100 times before and you should just search the forum instead of posting another pointless thread.
No,the rise of the bitcoin price won't affect the gambling industry.
I dont think that it will affect as because when the price is down the gamblers will bet high and when the price is high they will still bet but with low value. Still they will be gambling so i think gambling industry wont get affect only volume of business will go up and down.
Maybe it will affect the gamblers. When the price is down, they can use a big amount of bitcoin to bets but when the price is up, they have to choose to use big amount or small amount, and if they use big amount and they win, they can win a big amount too.
There will be many new gamblers that want to test their luck in the gambling games because they already make a big profit in the trading so they can use some of the profit to play the games.
But it's back to the gamblers itself. If they are very strict with their money, they will only use a small balance in gambling games and only play in a short time because they don't want to lose big money in gambling.
There will be many new gamblers that want to test their luck in the gambling games because they already make a big profit in the trading so they can use some of the profit to play the games.
But it's back to the gamblers itself. If they are very strict with their money, they will only use a small balance in gambling games and only play in a short time because they don't want to lose big money in gambling.
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
Am new to bitcoin sportbook I just want to ask what would change if bitcoin increases
Lets talk on different sides:
Gambling owners/house
- No matter what price do bitcoin have business must go on and there would be no changes on their side.They
are aware with the fluctuations which do affect their bankroll value but even on a dump market they can accumulate much more bitcoin
from to its users and when markets tends to rebound then it would be a win-win for them.
Gamblers/Players
-Its up to you if you are really optimistic with your own bitcoin.If you do look for long term
then you wont tend to use it up heavily but if you don't care at all then this wont really be an issue for you.
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