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Topic: Will an increase in bitcoin price affect the gambling industry - page 6. (Read 737 times)

full member
Activity: 686
Merit: 146
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.
hero member
Activity: 2856
Merit: 667
Definitely it will affect, but on the positive manner.

Price increase will make investors profitable and when they are profitable they would love to gamble with their spare money.
Also, I believe that gambling sites are not only focus on their gambling business alone, they are also investors at the same time.
sr. member
Activity: 2422
Merit: 357
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.
legendary
Activity: 3122
Merit: 1032
#1 VIP Crypto Casino
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.
full member
Activity: 2086
Merit: 193
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.
legendary
Activity: 3066
Merit: 1312
SOL.BIOKRIPT.COM
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

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.
full member
Activity: 1092
Merit: 117
 No, I don't think it will affect the gambling industry very much since most gamblers are counting their bankroll in dollars and make withdrawals daily or weekly.
hero member
Activity: 1328
Merit: 563
MintDice.com | TG: t.me/MintDice
In my experiences, crypto price affects the gambling industry less than others. Meanwhile things like media are some of the most affected by price.

That said, positive increases will increase gambling, but just by less than other industries.
member
Activity: 280
Merit: 14
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
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