While crypto gambling has plenty of benefits for customers, I'm not so sure if the gambling website owners are willing to take all the risks associated with this.
Especially this includes the first statement - no KYC. I mean, this will create a whole wide field of play for financial frauds, money laundering, underage gamblers. I doubt that many casinos would like to deal with all that.
But many crypto casinos also use KYC, so with that included I think many casinos and players will switch to crypto at some point.
Topic: Will crypto sportsbook replace fiat sportsbook in the future? - page 3. (Read 657 times)
No chance. It's same like crypto will never replace fiat money. They will perfectly exist together at the same time
You mentioned KYC, anonymous gambling, but it's not always case with crypto bookmakers. They also have to follow all kinds of strict regulations (if we talk about licensed sportsbooks) and they require KYC if they found something suspicious in user activity. So, statement about anonymous gambling is only partial right.
Also, many people are happy to use fiat sportsbooks and they don't see any reasons to switch to crypto betting.
Why people do really think off about this posibility? Traditional business cant really be replaced even though cryptocurrency based up sportsbook would soar up when it comes to popularitYou mentioned KYC, anonymous gambling, but it's not always case with crypto bookmakers. They also have to follow all kinds of strict regulations (if we talk about licensed sportsbooks) and they require KYC if they found something suspicious in user activity. So, statement about anonymous gambling is only partial right.
Also, many people are happy to use fiat sportsbooks and they don't see any reasons to switch to crypto betting.
but it wont never ever able to replace fiat sportsbook in the future because not all would really be not a fan on using it up or doesnt even know that crypto books does exist.
Also some people do much prefer on using up on what they've been using currently, there might be some who would tend to switch up but overall
these are different markets to be catered of.
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.
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.
Well, traditional sportsbooks, in specific, and the whole gambling industry, in general, are changing since the age of digital. A high percentage of fiat sportsbooks is a combination of both online and crypto-based which make people like you expecting traditional ways will be replaced by the new technology
The situation may change, however, the crypto sportsbook can not replace the fiat sportsbook in the next 40 years as long as fiat continues to utilized in society. IMO, they will both exist and support each other. There are people who like online gambling while others do not. No one wants to forget forever the feelings of face-to-face gambling, the sound kaching in a lottery machine, and our best friend's worst curse. That is why I merely want to point out that traditional gambling/sportsbook will not be forbidden even when the technology gets to the advanced level And of course, we are the ones who are benefiting from these alteration cause right now, we have not just one type of gambling but various ways to participate in gambling. We can use any currency we want and from any place we like
Crypto gambling has a lot of pros and cons, we have to be more realisit here since not all people know cryptocurrency and we know that traditional gambling are still supported by many especially the old ones who don't have much access online.
And those who doesn't like changes in their gambling actvities, they are still intact with how traditional gambling works, but in the otherside, with those who understand the development and upgrades, they find online is much convenient as you can play anywhere as long as there's internet access and you have your compatible devices.
Quote
Whether its sportsbook or any online games, I don't think cryptocurrency will replace the fiat based online casino, because those casinos will adopt as well and cryptocurrency will just be a good option to anyone who are willing to take risk using cryptocurrency.
The chance of replacing the traditional gaming is still far from here, adoptions needs to established first before
this one will take place.
p
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.
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.
No chance. It's same like crypto will never replace fiat money. They will perfectly exist together at the same time
You mentioned KYC, anonymous gambling, but it's not always case with crypto bookmakers. They also have to follow all kinds of strict regulations (if we talk about licensed sportsbooks) and they require KYC if they found something suspicious in user activity. So, statement about anonymous gambling is only partial right.
Also, many people are happy to use fiat sportsbooks and they don't see any reasons to switch to crypto betting.
You mentioned KYC, anonymous gambling, but it's not always case with crypto bookmakers. They also have to follow all kinds of strict regulations (if we talk about licensed sportsbooks) and they require KYC if they found something suspicious in user activity. So, statement about anonymous gambling is only partial right.
Also, many people are happy to use fiat sportsbooks and they don't see any reasons to switch to crypto betting.
I believe it won't happen, the same way crypto casinos aren't going to replace fiat or land based casinos. What may happen is an increasement in the number of crypto sports gamblers when compared to fiat sports gamblers. And actually it's a natural movement, because crypto is becoming more popular day by day, also introducing new gamblers to the activity, especially young ones.
On the other hand, there will be always a public for fiat sports gambling, because not everyone is adept of crypto currency or trust it. So it's definitely not going to be replaced.
Just imagine a successful sports gambler making tons of profit through betting. Do you really think he could stay anonymous for too long?
On the other hand, there will be always a public for fiat sports gambling, because not everyone is adept of crypto currency or trust it. So it's definitely not going to be replaced.
1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....
There are controversies about these benefits being useful on practice. 2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....
Just imagine a successful sports gambler making tons of profit through betting. Do you really think he could stay anonymous for too long?
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.
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.
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'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.
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.
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?
Crypto sports betting may become bigger in the future but it won't replace fiat sportsbook unless fiat itself is already gone. For as long as fiat stays, a lot of gamblers might prefer fiat over crypto.
I also don't think that crypto sports betting is easier than fiat betting. With crypto sports betting you need to have fiat first and then convert them to crypto before sending the funds to the gambling site. With fiat, all you have to do is to send it right away to your gambling account. There are of course advantages of crypto but ease might not be one of them.
This is the real difference between the cryptocurrency accepted sportsbook and fiat accepted sportsbook. There is certain additional process involved while using cryptocurrency based gambling sites. For some purpose like anonymity cryptocurrencies can be used. Only thing I find as an advantage over fiat is the growth. Maybe we can exchange fiat to cryptocurrency and make use into gambling. During this time period the growth in the value against cryptocurrency gets reflected on our holding value.I also don't think that crypto sports betting is easier than fiat betting. With crypto sports betting you need to have fiat first and then convert them to crypto before sending the funds to the gambling site. With fiat, all you have to do is to send it right away to your gambling account. There are of course advantages of crypto but ease might not be one of them.
There is a certain level of anonymity with cryptocurrency gambling but it is never 100% assured. There were already a number of times when gambling sites claiming to have no KYC requirement would all of a sudden require KYC from certain gamblers.
The growth of Bitcoin and other cryptocurrencies also makes me sometimes think that it is better to gamble with fiat than with crypto. If I were to count all of my losses in fiat, there wouldn't be any regrets because they're smaller in value today than in the past. But that is not the same with the BTC and the altcoins that I lost before.
That's actually true, there's a disclaimer in the casinos rule that is always in their favor, some are using this to cheat their gamblers but without knowing they are slowly destroying their reputation. I hate that kind of gambling sites actually, but if its reasonable, then I would comply especially if what we are talking is already a huge winning.
Crypto sports betting may become bigger in the future but it won't replace fiat sportsbook unless fiat itself is already gone. For as long as fiat stays, a lot of gamblers might prefer fiat over crypto.
I also don't think that crypto sports betting is easier than fiat betting. With crypto sports betting you need to have fiat first and then convert them to crypto before sending the funds to the gambling site. With fiat, all you have to do is to send it right away to your gambling account. There are of course advantages of crypto but ease might not be one of them.
This is the real difference between the cryptocurrency accepted sportsbook and fiat accepted sportsbook. There is certain additional process involved while using cryptocurrency based gambling sites. For some purpose like anonymity cryptocurrencies can be used. Only thing I find as an advantage over fiat is the growth. Maybe we can exchange fiat to cryptocurrency and make use into gambling. During this time period the growth in the value against cryptocurrency gets reflected on our holding value.I also don't think that crypto sports betting is easier than fiat betting. With crypto sports betting you need to have fiat first and then convert them to crypto before sending the funds to the gambling site. With fiat, all you have to do is to send it right away to your gambling account. There are of course advantages of crypto but ease might not be one of them.
There is a certain level of anonymity with cryptocurrency gambling but it is never 100% assured. There were already a number of times when gambling sites claiming to have no KYC requirement would all of a sudden require KYC from certain gamblers.
The growth of Bitcoin and other cryptocurrencies also makes me sometimes think that it is better to gamble with fiat than with crypto. If I were to count all of my losses in fiat, there wouldn't be any regrets because they're smaller in value today than in the past. But that is not the same with the BTC and the altcoins that I lost before.
Crypto gambling has a lot of pros and cons, we have to be more realisit here since not all people know cryptocurrency and we know that traditional gambling are still supported by many especially the old ones who don't have much access online.
Whether its sportsbook or any online games, I don't think cryptocurrency will replace the fiat based online casino, because those casinos will adopt as well and cryptocurrency will just be a good option to anyone who are willing to take risk using cryptocurrency.
Whether its sportsbook or any online games, I don't think cryptocurrency will replace the fiat based online casino, because those casinos will adopt as well and cryptocurrency will just be a good option to anyone who are willing to take risk using cryptocurrency.
~snip~
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 could not agree more. Sports betting in crypto-space is actually a real deal. It might actually replace the fiat ones, but in a way that we don’t really expect. Just in case that it has replaced the fiat, it will be too good to be true to keep being anonymous and not having KYC. But it really is something that could possibly happen. It really is feasible, not just because I say it but it is actually based on a business study I read somewhere. 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.
Nevertheless, cryptocurrency is actually good with this type of industry.
Crypto sports betting may become bigger in the future but it won't replace fiat sportsbook unless fiat itself is already gone. For as long as fiat stays, a lot of gamblers might prefer fiat over crypto.
I also don't think that crypto sports betting is easier than fiat betting. With crypto sports betting you need to have fiat first and then convert them to crypto before sending the funds to the gambling site. With fiat, all you have to do is to send it right away to your gambling account. There are of course advantages of crypto but ease might not be one of them.
This is the real difference between the cryptocurrency accepted sportsbook and fiat accepted sportsbook. There is certain additional process involved while using cryptocurrency based gambling sites. For some purpose like anonymity cryptocurrencies can be used. Only thing I find as an advantage over fiat is the growth. Maybe we can exchange fiat to cryptocurrency and make use into gambling. During this time period the growth in the value against cryptocurrency gets reflected on our holding value. I also don't think that crypto sports betting is easier than fiat betting. With crypto sports betting you need to have fiat first and then convert them to crypto before sending the funds to the gambling site. With fiat, all you have to do is to send it right away to your gambling account. There are of course advantages of crypto but ease might not be one of them.
Crypto sports betting may become bigger in the future but it won't replace fiat sportsbook unless fiat itself is already gone. For as long as fiat stays, a lot of gamblers might prefer fiat over crypto.
I also don't think that crypto sports betting is easier than fiat betting. With crypto sports betting you need to have fiat first and then convert them to crypto before sending the funds to the gambling site. With fiat, all you have to do is to send it right away to your gambling account. There are of course advantages of crypto but ease might not be one of them.
I also don't think that crypto sports betting is easier than fiat betting. With crypto sports betting you need to have fiat first and then convert them to crypto before sending the funds to the gambling site. With fiat, all you have to do is to send it right away to your gambling account. There are of course advantages of crypto but ease might not be one of them.
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.
KYC might be necessary when dealing with huge amount of bets. I personally haven't tried it, but I've heard some of the trusted gambling websites are doing this.
There are some online gambling websites that uses fiat that doesn't require KYC, you only need to deposit money from your E-wallet to their website. That's the same as depositing your Btc from your wallet/exchange to their website, and that makes you less anonymous.
So, most probably both crypto and fiat sportsbook will co-exist and none of them will be replaced by either solely crypto or fiat.
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 Fiat gamblers turns to crypto sportsbooking then why now right? but the question is will all gamblers considers Crypto betting? 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 don't think it will so the answer is "Maybe"
the chance will be 49 over 50 because i dont believe that fiat sportsbook will be gone just like that . this was like a debate with fiat and crypto but look at fiat they still exist despite of the boom of cryptocurrencies but cryptos and crypto sportsbook do sure have great benefits over the fiat/sportsbook which can lead to some fiat sport gamblers to transfer .
So where does the last 1% goes? 
Really, you can be "anonymous", speeds in transactions (withdrawal / deposit) these are some of the advantages
-snip-
No, crypto transactions are not anonymous: -snip-
Quote
Sending and receiving bitcoins is like writing under a pseudonym.
If an author’s pseudonym is ever linked to their identity, everything they ever wrote under that pseudonym will now be linked to them.
In Bitcoin, your pseudonym is the address to which you receive Bitcoin. Every transaction involving that address is stored forever in the blockchain. If your address is ever linked to your identity, every transaction will be linked to you.
Source
If an author’s pseudonym is ever linked to their identity, everything they ever wrote under that pseudonym will now be linked to them.
In Bitcoin, your pseudonym is the address to which you receive Bitcoin. Every transaction involving that address is stored forever in the blockchain. If your address is ever linked to your identity, every transaction will be linked to you.
Source
As soon as one of your adresses is linked to eg. an exchange which knows who you are (KYC, ...) your transactions and wallets are not anonymous anymore.
Yes, I know, that's the reason because i put quotation marks in the word anonymous, because it's not 100%
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
Now, if the person lives in an authoritative country, the government / banks are able to cross-check the information and reach you.
Really, you can be "anonymous", speeds in transactions (withdrawal / deposit) these are some of the advantages
-snip-
No, crypto transactions are not anonymous: -snip-
Quote
Sending and receiving bitcoins is like writing under a pseudonym.
If an author’s pseudonym is ever linked to their identity, everything they ever wrote under that pseudonym will now be linked to them.
In Bitcoin, your pseudonym is the address to which you receive Bitcoin. Every transaction involving that address is stored forever in the blockchain. If your address is ever linked to your identity, every transaction will be linked to you.
Source
If an author’s pseudonym is ever linked to their identity, everything they ever wrote under that pseudonym will now be linked to them.
In Bitcoin, your pseudonym is the address to which you receive Bitcoin. Every transaction involving that address is stored forever in the blockchain. If your address is ever linked to your identity, every transaction will be linked to you.
Source
As soon as one of your adresses is linked to eg. an exchange which knows who you are (KYC, ...) your transactions and wallets are not anonymous anymore.
Well, I think the idea is very interesting, and who knows in the future it might happen?
Really, you can be "anonymous", speeds in transactions (withdrawal / deposit) these are some of the advantages
But on the other hand, I think this can happen "a fight", for example, banks vs cryptocurrencies, traditional bets can see cryptocurrency bets a threat and depending, the country it is necessary to have a license regulated by the authorities.
Really, you can be "anonymous", speeds in transactions (withdrawal / deposit) these are some of the advantages
But on the other hand, I think this can happen "a fight", for example, banks vs cryptocurrencies, traditional bets can see cryptocurrency bets a threat and depending, the country it is necessary to have a license regulated by the authorities.
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