Will crypto sportsbook replace fiat sportsbook in the future? - page 2.

KTChampions

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Quote from: Saint-loup on April 05, 2021, 11:08:26 AM

Quote from: KTChampions on April 05, 2021, 08:16:17 AM

Unfortunately, these advantages are gradually fading away due to the fact that the entire crypto comes under the control of corporations and regulatory authorities. In fact, it makes no difference which tool you use if you are completely controllable and transparent at key points.
By the way, how many casinos do you know that use Monero?

I disagree with you, you can still find many sportsbooks like Stake.com for example without KYC. And you don't need Monero or another anonymous coin to stay anonymous. You can use mixers, coinjoins or send your transaction through an exchange with no KYC : you just need to send your BTCs to the exchange and change your BTCs into another cryptocurrency accepted by the sportsbook (ETH, LTC, DOGE, BCH, XRP, TRX, EOS are available on Stake). And if the sportsbook is crap and only accepts BTC you still can do that by using 2 exchanges, on the first you will convert your BTCs into an altcoin that you will send to the other exchange and there you will convert the altcoin into BTC before sending it to the BTC sportsbook. Hence there is no transaction on the blockchain linking your wallet to the sportsbook.

I did not say that there is no longer any way to remain anonymous. I talked about trends - and the fact is that with the arrival of large players in the cryptocurrency, the rules are tightened and the entire industry is moving towards the fiat world. That is why real tools of anonymity (such as Monero) are being squeezed out from everywhere.

YOSHIE

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Quote from: stadus on April 04, 2021, 05:25:34 AM

What do you think about its chances.

As far as I know sportsbook currently has 1700 team members who are loyal in running sportsbook sports betting sites around the world with an additional 150+ partners, who runs an online sportsbook game business with a professional and experienced team in each country.

My opinion if: sportsbook running and adding a fiat betting system, it is a good move and could be successful in the future, They no longer bother looking for a new team or partner, in running it, they just need to run it, because every country already has representatives.

I'm sure the fiat rules can add twice as many new players / users as there are, in the current game, for sports game addicts who are not familiar with crypto.

swogerino

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The chances will be big only when crypto will be embraced in a large scale.For now the number of gamblers who use crypto compared to the ones who use fiat is really small and unless this number grow really big it will be impossible for crypto to replace fiat sport betting sites.

electronicash

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Quote from: Wexnident on April 06, 2021, 12:43:17 AM

Quote from: electronicash on April 06, 2021, 12:37:25 AM

eventually, crypto sportsbook will be regulated. the exchanges today are not becoming very monitored by the IRS. there was a recent law I've watched on youtube with Robert Kiyosaki which you will have to report whether you trade BTC and if you check NO and then they find out they did. it's going to be considered a felony.

Seems kinda stupid though. It's like asking people if they trade stocks of various companies, they're basically just gathering info and I hardly doubt it's going to be passed through in the future. Even if it did, I hardly doubt it's going to last long.

Quote from: harizen on April 05, 2021, 10:22:31 PM

I prefer crypto-gambling in sports betting over fiat sportsbook but thinking it would "replace" the latter, it's too much to expect.

Agree, a replacement is too big of a word, since technically it's uprooting the entire system of fiat sportsbook that the world has always experienced. If fiat were to disappear then it's a possibility, but that situation is also not something that could easily happen.

we can never know what will happen. the authority will always want to be the authority and like Kiyosaki said Al Capone wasn't prosecuted because of crimes they did but through the tax. if they are out to get us, they are going to get us.

and it's true. fiat sportsbook will still exist alongside with crypto sportsbook, probably in the form of stablecoin or the digital currency (CBDC) that they were developing.
it doesn't hurt much when you spend a stablecoin than a currency which value could be worth a lot soon.

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Quote from: michellee on April 06, 2021, 05:46:21 AM

Sooner or later, it will replace fiat betting and we know that the technology still grows and develop better. But I am sure some offline casino will still operate in some city because people who miss the old time can visit the offline casino and play some old game. That will be better for the offline casino to get the old customer who will come back to their place while also having the online casino, which can get more customers to play gambling games on their site.

I doubt it, even though crypto sportsbooks are growing at a faster pace together with crypto overall it's still not going to replace any fiat sportsbooks because not everyone prefers to bet with crypto knowing that the value of their balance could go down 5%-10% the next day just from the price fluctuations. Like the others have said both can be accepted at the same time and it's better for the casino too in terms of profit. It's a possibility but still unlikely unless every country decides to change their payment system and make the transition to crypto.

michellee

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I don't personally think it will replace fiat betting. But in future we may observe crypto based gambling becoming a lot bigger. Think about this: In my country there is only one betting company which is monopoly permitted by state. Because of that we can bet only for regulated sports. Gambling is literally outlawed. By crypto we can easily bypass state limits.

Sooner or later, it will replace fiat betting and we know that the technology still grows and develop better. But I am sure some offline casino will still operate in some city because people who miss the old time can visit the offline casino and play some old game. That will be better for the offline casino to get the old customer who will come back to their place while also having the online casino, which can get more customers to play gambling games on their site.

AicecreaME

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Quote from: stadus on April 04, 2021, 05:25:34 AM

I'm seeing the improvement on the crypto gambling space especially in sports betting, so I was thinking, since crypto sports betting is easier than fiat betting, then probably people might transfer here and tht would help the increase of adoption.

some of the benefits when using crypto sportsbook.

1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....

What do you think about its chances.

I agree to all what you've pointed out expect to the "No KYC" part. It's impossible in my opinion, maybe at first it is possible but just like exchanges, they will require it for the "Safety" purposes that they are all saying, which is really funny since it's very contradicting the promotion of being anonymous but you need to do KYC.

The cryptocurrency sports book would happen any time soon in my opinion, but let's see how many of the gamblers would support this new incoming feature in the near future since most of them would think that Bitcoin is still a scam or whatsoever they think about it.

Wexnident

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Quote from: electronicash on April 06, 2021, 12:37:25 AM

eventually, crypto sportsbook will be regulated. the exchanges today are not becoming very monitored by the IRS. there was a recent law I've watched on youtube with Robert Kiyosaki which you will have to report whether you trade BTC and if you check NO and then they find out they did. it's going to be considered a felony.

Seems kinda stupid though. It's like asking people if they trade stocks of various companies, they're basically just gathering info and I hardly doubt it's going to be passed through in the future. Even if it did, I hardly doubt it's going to last long.

Quote from: harizen on April 05, 2021, 10:22:31 PM

I prefer crypto-gambling in sports betting over fiat sportsbook but thinking it would "replace" the latter, it's too much to expect.

Agree, a replacement is too big of a word, since technically it's uprooting the entire system of fiat sportsbook that the world has always experienced. If fiat were to disappear then it's a possibility, but that situation is also not something that could easily happen.

electronicash

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eventually, crypto sportsbook will be regulated. the exchanges today are not becoming very monitored by the IRS. there was a recent law I've watched on youtube with Robert Kiyosaki which you will have to report whether you trade BTC and if you check NO and then they find out they did. it's going to be considered a felony.

if they are now doing that, they could try to also watch crypto sports betting. the growth of users in crypto that had started sportsbetting is increasing so i guess it will continue to rise that will replace fiat sportsbook.

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Quote from: stadus on April 04, 2021, 05:25:34 AM

I'm seeing the improvement on the crypto gambling space especially in sports betting, so I was thinking, since crypto sports betting is easier than fiat betting, then probably people might transfer here and tht would help the increase of adoption.

some of the benefits when using crypto sportsbook.

1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....

What do you think about its chances.

If ever Crypto replaces fiat and once traditional fiat gambling sites are gone. Governments will find ways to make revenue through tax thus making KYC required for every crypto gambling platform taking away anonymity. Preferences such as Stake.com and SportsBet, so i prefer having two options because both has its pros and cons.

I think traditional fiat gambling sites will not be gone as people still use that site to gamble, and they are not moving to another site yet. It will give the government other works to get the tax through online gambling, but that will not be as easy as online gambling will operate outside of the country's jurisdiction. Perhaps, the government can apply that tax to their citizen who is playing gambling on many online gambling sites by checking their bank account.

harizen

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I prefer crypto-gambling in sports betting over fiat sportsbook but thinking it would "replace" the latter, it's too much to expect.

There are lots of gamblers outside crypto and the market is big. Those thing mentioned in the first post is definitely not the big reason why should all gamblers outside crypto will just shift into crypto-gambling.

Replacement is a big word. Not all preferred to be involved in crypto even there's a positive future with it. Some crypto enthusiasts are having the idea that everything can be replaced by crypto because we are lurking in crypto every single day but it's not that simple as 1,2,3.

passwordnow

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Quote from: seleme on April 05, 2021, 04:46:35 PM

It is just a matter of time the popular crypto sportsbooks will replace the traditional sports bookies, the time will change everything included our habits as gamblers.

I definitely agree with this. Time has made a lot of sportsbooks improve not only by giving their bettors the best experience but also coping up with the most recent technology and accepted cryptocurrencies.
The common sports book will have to do that while the known crypto sports book can easily add the traditional payment system for which their users will have a lot of choice upon deposit and withdrawal.

gagux123

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Quote from: 7788bitcoin on April 05, 2021, 02:05:17 PM

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Quote from: gagux123 on April 05, 2021, 03:53:58 AM

But I can say one thing, for example, if the site/betting platform are using cryptocurrencies and does not need to perform KYC, you can purchase Monero for example via p2p, and bet "anonymously", I think that if the person does this, the chances of it being tracked can decrease

Which gambling site allow you to gamble with Monero, i have not come across sites that allows Monero and if you are aware of any site that give you full privacy i would like to know as i am yet to find a gambling site in a long time where you can say that you can hold on to your privacy while wagging bets.
Earlier there were anonymous betting sites but they disappeared because the transaction fees started increasing.

Fiat sports book mandate your KYC before playing and crypto based sports book will give you the opportunity to wage and they will only enforce KYC if they have any doubts regarding your game play or the source of funds.

I also don't know any betting sites that use Monero, I only mentioned that example above if some platform or person wanted to bet anonymously, as they would have to create something similar to try to be as anonymous as possible.

I'm not a betting expert, I just gamble to spend my time and have some fun.
I think that almost no person would like to have their identity related to a particular cryptocurrency wallet.

I think that in the future betting using cryptocurrencies may grow, but for this to happen it is necessary to overcome several challenges in relation to cryptocurrencies, and perhaps, some anonymous betting platform may succeed in the future?!?! (this is my humble perspective)

STT

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Any time people think crypto is going to replace all of a FIAT use case I would probably say nope, they'll both exist in competition and simple market variety alternatives. Just the same as how currency alters around the world for betting, BTC has its place in a virtual realm but plenty of people goto see the team or race while betting, etc. so we'll always have competition from old and new variants to many industries.
Coal was once king and now its been in decline a century and yet its still used and likely will continue so, even in the best case scenario for crypto we'll have FIAT on going for many decades I've no doubt on it.

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Quote from: Saint-loup on April 05, 2021, 05:58:46 PM

Quote from: Kelvinid on April 05, 2021, 05:02:20 PM

Quote from: seleme on April 05, 2021, 04:46:35 PM

It is just a matter of time the popular crypto sportsbooks will replace the traditional sports bookies, the time will change everything included our habits as gamblers. The biggest disadvantage of crypto bookies is the lack of necessary features that adds more fun in the process but the mentioned features are widely used by fiat sports bookies. Currently, Stake and Bitsler are my preferences as crypto sports bookies but both options don't cover my expectations TBH.

I don't think that time will come, crypto sportsbook is not as big as the fiat sportsbook. In fiat sportsbook, there are gamblers who are confident betting millions in one bet while in crypto sportsbook, whales are a bit worried that the site might go scam, and crypto sportsbook actually has lower limit compared to fiat sportsbook, so you can tell how big their exposure is based on the limit.

No I disagree with you, you can look at Stake.com for example, some whales are gambling millions of dollars in only few days there, moreover I think limits are lower on fiat sportsbooks than on crypto ones because fiat sportsbooks have to respect national and international regulations, and things like AML while crypto sportsbooks don't care about that.

For sure they do have limits because these gambling platforms are highly regulated which means any big money that would be bet out or goes in then that would really be raising up some questions and this is where crypto could really have advantage because you can even bet bigger than those fiat sportsbook.

The thing i do like with crypto sportsbook is on the anonymity that it gives and the accessibility on where fiat sportsbook does have difference.

Saint-loup

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Quote from: Kelvinid on April 05, 2021, 05:02:20 PM

Quote from: seleme on April 05, 2021, 04:46:35 PM

It is just a matter of time the popular crypto sportsbooks will replace the traditional sports bookies, the time will change everything included our habits as gamblers. The biggest disadvantage of crypto bookies is the lack of necessary features that adds more fun in the process but the mentioned features are widely used by fiat sports bookies. Currently, Stake and Bitsler are my preferences as crypto sports bookies but both options don't cover my expectations TBH.

I don't think that time will come, crypto sportsbook is not as big as the fiat sportsbook. In fiat sportsbook, there are gamblers who are confident betting millions in one bet while in crypto sportsbook, whales are a bit worried that the site might go scam, and crypto sportsbook actually has lower limit compared to fiat sportsbook, so you can tell how big their exposure is based on the limit.

No I disagree with you, you can look at Stake.com for example, some whales are gambling millions of dollars in only few days there, moreover I think limits are lower on fiat sportsbooks than on crypto ones because fiat sportsbooks have to respect national and international regulations, and things like AML while crypto sportsbooks don't care about that.

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Quote from: seleme on April 05, 2021, 04:46:35 PM

It is just a matter of time the popular crypto sportsbooks will replace the traditional sports bookies, the time will change everything included our habits as gamblers. The biggest disadvantage of crypto bookies is the lack of necessary features that adds more fun in the process but the mentioned features are widely used by fiat sports bookies. Currently, Stake and Bitsler are my preferences as crypto sports bookies but both options don't cover my expectations TBH.

I don't think that time will come, crypto sportsbook is not as big as the fiat sportsbook. In fiat sportsbook, there are gamblers who are confident betting millions in one bet while in crypto sportsbook, whales are a bit worried that the site might go scam, and crypto sportsbook actually has lower limit compared to fiat sportsbook, so you can tell how big their exposure is based on the limit.

stomachgrowls

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When it comes to comparison then this one will be a good read: https://www.safestbettingsites.com/deposit-withdraw/bitcoin/btc-sportsbooks-versus-fiat-btc

Highlighting the pro's and con's.

Withdrawals
Crypto- Instant or depend on set fees
Fiat- fastest option for customers compared to checks or bank wires, which take 1-2 weeks to process,

Bonuses
Both are almost the same but traditional operators does have a little bit more offering.

Reliability and Trustworthiness
This will always vary with longevity of the said sportsbook in the market.You can see it on your own.

seleme

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It is just a matter of time the popular crypto sportsbooks will replace the traditional sports bookies, the time will change everything included our habits as gamblers. The biggest disadvantage of crypto bookies is the lack of necessary features that adds more fun in the process but the mentioned features are widely used by fiat sports bookies. Currently, Stake and Bitsler are my preferences as crypto sports bookies but both options don't cover my expectations TBH. Instant withdrawals and many available lucrative options can bring traditional gambling to a new sphere.

Fatunad

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Crypto sportsbook does have its own features that fiat does have same goes with fiat that crypto doesnt have.Just like what others said where they do cater different market
which its understandable that they would both exist and able to get revenue on a specific gambler because not all will be switching up solely in crypto and not
all will be switching to fiat.Its just a matter of choice on what suits them best.

Topic: Will crypto sportsbook replace fiat sportsbook in the future? - page 2. (Read 657 times)