Topic: Will crypto sportsbook replace fiat sportsbook in the future? (Read 657 times)
I don’t think it will replace the fiat sportsbook yet with crypto for as long as the cryptocurrencies are still decentralized, people from the government would also like to get a cut out of these casinos and if they’ll use cryptocurrency what about the taxes? But who knows, maybe they’ll figure out something in the future too.
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.By the way, how many casinos do you know that use Monero?
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.
We just have to enjoy the moment that regulation in crypto is not so strict yet, with the kind of adoption we are hoping, it always come with strict regulation as whether we like it or not, our regulators will always enter in the scene, making crypto not serving its real purpose which is anonymity.
There's nothing to worry regarding on regulation since I believe those happenings will be implemented for protection of the users. So we shouldn't give any bad impression regarding on regulation since it possibly drive out the sportsbook scammer owners to go out in this industry if this is protected by a law or government.
the BIG bet office should accept Crypto than can we take about that crypto replace fiat bet,s
that im think about, its hard for underdog bet office only in internet, in my town are for sure 5 bet office
that im think about, its hard for underdog bet office only in internet, in my town are for sure 5 bet office
Even with the choice between a fully unregulated casino and a fully regulated casino, most consumers opt for a regulated one. They are not interested in ideology, they are only interested in reliability and convenience. Both options have their drawbacks, but the fact is that most choose the regulation/fiat world.
Typical choice where people do always preferred into those platforms which are regulated nor does have licensed.Its been already a part of our instinct or preference that we shouldstick into these things rather than dealing into those unregulated but to see that majority of those top crypto bookies are also regulated yet the thing here is the
security of those funds on where chances of losing is most likely lost and can be stolen without any chance for recovery unlike on traditional fiat sportsbook where you can
really at least have that confidence of recovery.
No matter how sad it may be, people prefer to minimize their own responsibility and shift it onto the state. Therefore, they choose more expensive and inconvenient options instead of using more efficient options but without guarantees from the state. It is very difficult to accept this fact being on a forum where most of the participants take a different approach, but in real life everything happens that way.
Sometimes people still like going into a shop and getting a physical ticket. Especially as everything opens back up, I could see a bump in physical sports books. But with the ease of crypto and online they have nothing to worry about
we wont see many crypto sites if crypto users are small but i believe the users of crypto is huge enough at this point .
theres only less fiat sportebetting site that are trusted and if there are sportbetting sites they only had a few users compare to crypto sportbetting sites .
AFAIK. there are many fiat sports betting sites that are reputable and also have a huge bettor base. And they can just adopt crypto if they see demand for it.theres only less fiat sportebetting site that are trusted and if there are sportbetting sites they only had a few users compare to crypto sportbetting sites .
this is not hard for the crypto sportsbetting sites to replaced them in the future .
Yeah likely if they won't do better service and if most people would adopt crypto and they won't. 
I don't think it will be replacing fiat sportsbooks anytime soon. I have a good amount of friends who use local sports betting casinos online, as well as sites like Fanduel, and even after telling them about the advantages of sites like Bovada for example, who accepts a couple types of cryptocurrency, they're still hesitant to give it a try. There's also the aspect of illegality, and right now, at least here in the United States, betting while using an online Casino not registered with the state/country is not legal.
Crypto sportsbooks may be always developing, but can it really replace fiat sportsbooks?
Does this question seem like can crypto replace fiat?
Well, the crypto sportsbook is one of the ways payment methods where we can join or get into it using and getting cryptocurrency. However, is that really no KYC?
I ever read about KYC and AML still needed even they are able to use cryptocurrency. However, it may be on several websites only.
Crypto sportsbooks may be developing and will be spreading again, but fiat sportsbooks will still exist because not all people concern with crypto.
Does this question seem like can crypto replace fiat?
Well, the crypto sportsbook is one of the ways payment methods where we can join or get into it using and getting cryptocurrency. However, is that really no KYC?
I ever read about KYC and AML still needed even they are able to use cryptocurrency. However, it may be on several websites only.
Crypto sportsbooks may be developing and will be spreading again, but fiat sportsbooks will still exist because not all people concern with crypto.
Even with the choice between a fully unregulated casino and a fully regulated casino, most consumers opt for a regulated one. They are not interested in ideology, they are only interested in reliability and convenience. Both options have their drawbacks, but the fact is that most choose the regulation/fiat world.
stick into these things rather than dealing into those unregulated but to see that majority of those top crypto bookies are also regulated yet the thing here is the
security of those funds on where chances of losing is most likely lost and can be stolen without any chance for recovery unlike on traditional fiat sportsbook where you can
really at least have that confidence of recovery.
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.
I don't think this will ever happen as I don't think that countries and authorities will let this happen. Even now, many crypto gambling and betting sites must verify their users to prevent underage betting and money laundering. Players prefer sites they can trust and those sites are sportsbooks with licenses. To get a license, the operator will have to impose a KYC procedure. I generally believe that anonymous gambling online will disappear from most reputable brands.
I also believe that many fiat casinos will start accepting cryptos and crypto bookies will start accepting fiat because the ultimate goal of casino operators is to make money. The more customers they have the more money they will make. So, they will obviously try to meet the needs of as many players as possible.
This is all just my point of view of course based on the happenings over the years. We can't really ever know what comes next. But I don't think that governments would just give up on all the profits they can make with licensing fees.
Crypto sportsbooks may be always developing, but can it really replace fiat sportsbooks?
Does this question seem like can crypto replace fiat?
Well, the crypto sportsbook is one of the ways payment methods where we can join or get into it using and getting cryptocurrency. However, is that really no KYC?
I ever read about KYC and AML still needed even they are able to use cryptocurrency. However, it may be on several websites only.
Crypto sportsbooks may be developing and will be spreading again, but fiat sportsbooks will still exist because not all people concern with crypto.
Does this question seem like can crypto replace fiat?
Well, the crypto sportsbook is one of the ways payment methods where we can join or get into it using and getting cryptocurrency. However, is that really no KYC?
I ever read about KYC and AML still needed even they are able to use cryptocurrency. However, it may be on several websites only.
Crypto sportsbooks may be developing and will be spreading again, but fiat sportsbooks will still exist because not all people concern with crypto.
Even with the choice between a fully unregulated casino and a fully regulated casino, most consumers opt for a regulated one. They are not interested in ideology, they are only interested in reliability and convenience. Both options have their drawbacks, but the fact is that most choose the regulation/fiat world.
Crypto sportsbooks may be always developing, but can it really replace fiat sportsbooks?
Does this question seem like can crypto replace fiat?
Well, the crypto sportsbook is one of the ways payment methods where we can join or get into it using and getting cryptocurrency. However, is that really no KYC?
I ever read about KYC and AML still needed even they are able to use cryptocurrency. However, it may be on several websites only.
Crypto sportsbooks may be developing and will be spreading again, but fiat sportsbooks will still exist because not all people concern with crypto.
Does this question seem like can crypto replace fiat?
Well, the crypto sportsbook is one of the ways payment methods where we can join or get into it using and getting cryptocurrency. However, is that really no KYC?
I ever read about KYC and AML still needed even they are able to use cryptocurrency. However, it may be on several websites only.
Crypto sportsbooks may be developing and will be spreading again, but fiat sportsbooks will still exist because not all people concern with crypto.
There's a good chance this will happen in the future. As technology advances, the needs and wants of people will shift to whatever is more convenient at the moment. And since crpyto sportsbook offer this convenience over their fiat counterparts, people will gravitate more towards crypto variants which are readily available over the internet. Added to this the fact that social contact is highly ill-advised which may not be gone for a very long time.
Why thinking of replacement if they can exist both at the same time?
There will be no replacement and it's impossible to happen. Not because we are in crypto, everyone should be on it too. What we will see is the growing numbers of people using crypto in gambling but it doesn't mean, everyone will join the party craze of doing crypto gambling.
Let's just be happy that adoption continuously takes place and no doubt, it's growing.
There will be no replacement and it's impossible to happen. Not because we are in crypto, everyone should be on it too. What we will see is the growing numbers of people using crypto in gambling but it doesn't mean, everyone will join the party craze of doing crypto gambling.
Let's just be happy that adoption continuously takes place and no doubt, it's growing.
This is the best answer, but I think OP was just thinking if crypto sportsbook could replace fiat sportsbook on its position now. Right now, fiat sportsbook is on top, then crypto sportsbook are below, so if they could switch place, that would be big and I guess that's the possibility OP trying to brought here.
Why thinking of replacement if they can exist both at the same time?
There will be no replacement and it's impossible to happen. Not because we are in crypto, everyone should be on it too. What we will see is the growing numbers of people using crypto in gambling but it doesn't mean, everyone will join the party craze of doing crypto gambling.
Let's just be happy that adoption continuously takes place and no doubt, it's growing.
There will be no replacement and it's impossible to happen. Not because we are in crypto, everyone should be on it too. What we will see is the growing numbers of people using crypto in gambling but it doesn't mean, everyone will join the party craze of doing crypto gambling.
Let's just be happy that adoption continuously takes place and no doubt, it's growing.
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.
we wont see many crypto sites if crypto users are small but i believe the users of crypto is huge enough at this point . theres only less fiat sportebetting site that are trusted and if there are sportbetting sites they only had a few users compare to crypto sportbetting sites .
this is not hard for the crypto sportsbetting sites to replaced them in the future .
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.
we wont see many crypto sites if crypto users are small but i believe the users of crypto is huge enough at this point . theres only less fiat sportebetting site that are trusted and if there are sportbetting sites they only had a few users compare to crypto sportbetting sites .
this is not hard for the crypto sportsbetting sites to replaced them in the future .
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.
We just have to enjoy the moment that regulation in crypto is not so strict yet, with the kind of adoption we are hoping, it always come with strict regulation as whether we like it or not, our regulators will always enter in the scene, making crypto not serving its real purpose which is anonymity. I agree with you. The sad thing is (maybe) now is the best time for cryptocurrencies. In the future, with continued adoption, the difference in the use of cryptocurrencies and fiat will be minimal. And given the fact that most users use cryptocurrency through intermediaries, then these minimal differences will be very difficult to see.
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.By the way, how many casinos do you know that use Monero?
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.
We just have to enjoy the moment that regulation in crypto is not so strict yet, with the kind of adoption we are hoping, it always come with strict regulation as whether we like it or not, our regulators will always enter in the scene, making crypto not serving its real purpose which is anonymity.
There's nothing to worry regarding on regulation since I believe those happenings will be implemented for protection of the users. So we shouldn't give any bad impression regarding on regulation since it possibly drive out the sportsbook scammer owners to go out in this industry if this is protected by a law or government.
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.
1)See I understand your point but the main fact is that it's not at all easy to replace fiat sportsbook with crypto sports book because it is like replacing fiat with cryptocurrencies completely which is difficult at this time.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.
2)The gamblers need to have proper knowledge of cryptos because there are lot of scams in this market.
3)The one who prefer stability of winnings will always bet with fiat instead of crypto coins due to volatility factor
4)Above them most casino prefer to have KYC these days for withdraw on exchanges but some prefer to have anonymity of customers with them.
5)The fees are high which further reduces the profits.
6) Crypto is not regulated in most countries which further poses a threat to gamblers of crypto betting.
So there are many factors which are acting as hinderance to crypto growth but who knows what happens next.In past few years have we ever imagined that Bitcoin will be becoming mainstream and accepted by major companies and regulated by government?But it is becoming reality so who knows the future.
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.By the way, how many casinos do you know that use Monero?
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.
We just have to enjoy the moment that regulation in crypto is not so strict yet, with the kind of adoption we are hoping, it always come with strict regulation as whether we like it or not, our regulators will always enter in the scene, making crypto not serving its real purpose which is anonymity.
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.By the way, how many casinos do you know that use Monero?
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.
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.
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.
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.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.
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. 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. 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.
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.
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.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. 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.
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.
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 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.
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.
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.
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.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'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)
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
What I love is the anonymous gambling, I hope we will able to remain that even if the adoptoin will increase overtime. For me, that's the best benefit of supporting crypto casinos as that gives more privacy than those fiat casinos or sportsbook that would always like to know everything about us, our personal information and our bank account, that way it would be easy for the regulators to investigate.
The gambler will see the crypto can help them play gambling without revealing their identity, as @OP mention. The crypto gambling site doesn't need KYC verification, and they can play anonymously. They don't have to use their bank account to deposit the money to gamble. But fiat betting will still exist, especially for traditional fiat betting because people will play on that casino and meet many people in one place. And at this moment, I think the offline casino can expand their business by integrating with crypto to introduce crypto to their members. It will be good for their business because now, they can use fiat and crypto payment for their business.
It won't be easy to replace the fiat sportsbook. Even the idea of replacing fiat over crypto is impossible for me because there are still people that will prefer the traditional fiat. Add to that is cryptos are very volatile, your portfolio could go up and down a lot in just a day. For it to be less volatile, it needs to be regulated but that would destroy the purpose of cryptocurrencies.
As for the KYC, if a crypto sportsbook becomes popular than a traditional sportsbook then a simple KYC should really be implemented to avoid fraudulent activities on their platform.
As for the KYC, if a crypto sportsbook becomes popular than a traditional sportsbook then a simple KYC should really be implemented to avoid fraudulent activities on their platform.
People who don't understand crypto will definitely prefer fiat, and based on this article about 100 million people use crypto while the current world's population is around 7.8 billion, so the crypto uses still low compared to fiat, so fiat will still dominate in all sectors including crypto sportsbook or gambling, but the possibility for crypto sportsbook increase higher because basically all industries will start to digitalize including gambling and people will start to use something that can benefit their activity in gambling such low tx fee, when crypto sportsbook offer it then users will choose it, but it will still be a long time for crypto replace fiat in sportsbook industries.
Although crypto sportsbooks have many benefits compared to fiat sportsbooks, most gamblers still use fiat sportsbooks. Because crypto users are
still very few compared to the world's population who prefer to use fiat to play gambling, still need to provide a lot of education to the public to get
to know crypto more. So it's possible that crypto sportsbooks will replace fiat sportsbooks in the future. But not anytime soon, but I believe
the majority of the members of this forum use crypto sportsbook. But in the gambling industry, of course, fiat sportsbooks are still the main choice.
still very few compared to the world's population who prefer to use fiat to play gambling, still need to provide a lot of education to the public to get
to know crypto more. So it's possible that crypto sportsbooks will replace fiat sportsbooks in the future. But not anytime soon, but I believe
the majority of the members of this forum use crypto sportsbook. But in the gambling industry, of course, fiat sportsbooks are still the main choice.
Probably not, I haven't tried an actual fiat sportsbook but whenever I see others using their local sportsbook they sound much better and reliable than most crypto sportsbooks. Sure there's less risks in crypto sportsbooks with no KYC but I think there's still enough upsides in fiat sportsbooks that makes it worth to use their service even with KYC. There's also a lot of options available in fiat sportsbooks while in crypto sportsbooks you're only limited to a few sportsbooks that's close to the level of the good fiat sportsbook.
Not necessarily will replace it since it crypto can coexist with fiat in the first place and not everyone is going to migrate to crypto sportsbook. In my opinion, the best thing that could happen is not replacement but integration of crypto in fiat sportsbook which helps attract more people since you have more ways to pay and bet.
The pre requisite here is that if crypto completely replaces fiat. If it doesn't happen, I don't really see a reason as to why they would need to remove fiat-based casinos. Plus, casinos can just simply impose KYC even if we use crypto, so that's still an issue, it just depends on what country and the level of adoption imo. Still, as I see the future as crypto not replacing fiat but rather fiat living side by side by crypto (or crypto with a CBDC), the complete removal of a casino that is based on fiat/CBDC seems impossible, especially since governments would probably impose their own restrictions into said crypto casinos since they prioritize the legality issues instead of the user's anonymity/privacy.
Fiat sportsbook has its own purpose, it has its own bonuses and a traditional system on which it runs. The bookies decide the odds here. While crypto sportsbook has dynamic programming involved which automatically changes the odds according to the number of bets placed and the old and current output of the game. Crypto sportsbook gives us variety of bonuses while fiat sportsbook also does it but their bonuses are not so interesting. Fiat sportsbook has so many countries blocked due to regulations while crypto sportsbook has least. Both are giving good services to their users so none should replace anybody.
-Both would exist.
-Both would serve out different market (people love centralized and those who do love anonymity)
-Fiat sportsbook is been preferred by those old gamblers who had been using it through ages.
If there are some significant decrease on demand then we would see such closure of those platforms as we go ahead but it seems it hasnt been affected at all.
-Both would serve out different market (people love centralized and those who do love anonymity)
-Fiat sportsbook is been preferred by those old gamblers who had been using it through ages.
If there are some significant decrease on demand then we would see such closure of those platforms as we go ahead but it seems it hasnt been affected at all.
What do you think about its chances.
No, it wont happen and come to think that fiat sportsbook had existed much more longer or the default way of gambling using up fiat when crypto sportsbook hadnt existed yet.Crypto might give up something new to the market when it comes to decentralization but come to think that not all does have awareness about bitcoins or crypto existence.
If you do try to check out the number of people who had been using up these platforms then you can tell that there's still relevance on their existence.
It might be having some decreased in numbers but doesnt mean that it would just popped out and be gone just like that easily.
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.
It's looks very much likely. Given how fast crypto is getting adopted on daily basis as the de facto platform for making transactions by crypto OGs and even newer crypto users, it won't be too long before we see mainstream fiat gambling users move to crypto based Sportsbook platforms since they can enjoy all the benefits they're currently getting from those traditional Sportsbook with even more benefits like the ones you already mentioned - Instant depo/withdraws. even if KYC is subjective, Crypto gambling platforms are still the best and it wouldn't take too long before there's a shift.
The only way possible is if FIAT sportsbook decline while crypto sportsbook contnues to increase its adoption, which we are not seeing
What is happening is that both are progressive, so there's no way crypto sportsbook will surpass FIAT sportsbook.
We can put it like BTC and ETH, BTC continues to be dominant even ETH is rising as well, so there's no way to replace bitcoin.
And in terms of dominance, BTC is more dominant with over 50%, so most probably FIAT has that kind of dominance or probably higher while makes it hard for crypto sportsbook to surpass.
What is happening is that both are progressive, so there's no way crypto sportsbook will surpass FIAT sportsbook.
We can put it like BTC and ETH, BTC continues to be dominant even ETH is rising as well, so there's no way to replace bitcoin.
And in terms of dominance, BTC is more dominant with over 50%, so most probably FIAT has that kind of dominance or probably higher while makes it hard for crypto sportsbook to surpass.
1. No KYC
I know that this is not the most popular opinion especially among the crypto community but, in fact, verifying your identity (kyc) is not always a bad thing. Just think of what can you do if your account gets hacked? How can you prove its ownership to recover it?Crypto casinos are unlikely to overtake fiat casinos, at least not in the near future. There are many things that have to change before we see such thing happening: price stability, faster confirmations, lower fees...
imo, crypto sportsbooks will not replace fiat ones also. there are pros and cons of using either of these bookies. and remember, the percentage of fiat players are still big compared to crypto gamblers. however, we cant deny the fact that there are really good advantages in using crypto bookies like no kyc feature. maybe 5 years from now, lets talk about the coverage of crypto sportsbooks, and let's see how big they become as compared to fiat sportsbooks...
There is a very high chance of this happening especially when we take into account the speed at which things are automated and then turned into wireless or virtual, plus the fact that people discovered their newfound need to make sure that everything is wireless thanks to new problems brought about by technology and of course the SARS-CoV2 Pandemic. If this drags out, there will be a very high possibility of crypto sportsbook overtaking their fiat counterpart in the future.
1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....
2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....
These aren't improvements but the actual advantages of crypto gambling even before.
Gamblers outside crypto already know those advantages, some get in, some still in doubt.
It's no secret that there's an increase in the numbers of gamblers testing and switching the nature of crypto gambling. We just have to watch the progress then.
1. No KYC
I know that this is not the most popular opinion especially among the crypto community but, in fact, verifying your identity (kyc) is not always a bad thing. Just think of what can you do if your account gets hacked? How can you prove its ownership to recover it?Crypto casinos are unlikely to overtake fiat casinos, at least not in the near future. There are many things that have to change before we see such thing happening: price stability, faster confirmations, lower fees...
I know for a fact that no kyc and anonymous gambling means the platform is some unregulated gaming site, and should a problem arise it's very difficult to have a case against them.
That's correct, and mostly it will not attract whales because they are playing with money, however, their reputation is big enough to risk when they scam people, a crypto casinos making millions of dollars monthly will not scam gamblers even if they gamble millions also, i'm not saying it will not happen but since they are protecting their business, they would not destroy their reputation. For gamblers, if they want to minimize the risk, then gamble in differnet sites.
I honestly prefer platforms with a good reputation that asks for kyc. I feel safer in them. However, I don't think the anonymity that some crypto sportsbook could that could provide isn't enough for most gamblers to switch to it. Some people still prefer using fiat in gambling and we still need better adoption in the future.
I guess fiat still holds a very large percentage of the gambling industry and the reason is USA, because most crypto gambling websites don't allow users from USA to play there (maybe due to regulations). While Australians who easily throw away more than $1200 per family on fiat casinos each year, I don't think it's so easy to say that fiat gambling would be replaced by crypto gambling for some time.
Nah, never.
they lack market offering & infrastructure, they lack trust because there's still a stigma surrounding cryptos (plus, you'd be surprised how many ppl actually prefer a bookie that asks for KYC over others that don't) and they they lack liquidity cos they don't have as many gamblers as the popular fiat bookies which makes the avg and sharp players stay away from soft books like the majority of crypto bookies.
There's not much incentive for your average player to change from fiat to crypto sportsbooks other than "privacy" or "anonymity", and even then, you won't be exempt from a KYC request in a crypto friendly bookie, so...
they lack market offering & infrastructure, they lack trust because there's still a stigma surrounding cryptos (plus, you'd be surprised how many ppl actually prefer a bookie that asks for KYC over others that don't) and they they lack liquidity cos they don't have as many gamblers as the popular fiat bookies which makes the avg and sharp players stay away from soft books like the majority of crypto bookies.
There's not much incentive for your average player to change from fiat to crypto sportsbooks other than "privacy" or "anonymity", and even then, you won't be exempt from a KYC request in a crypto friendly bookie, so...
It may have some of those advantages over tradition betting sites but if you think about the situation it might not be always like that in the feature. As soon as crypto gambling will be as popular as the other traditional ways of gambling expect that added regulations will take place as they always do, this has been what we have seen in the past where crypto exchanges, P2P exchanges, and even Bitcoin ATMs before doesn't need any KYC verification but now they have one as regulations and other laws change and adjust to where the money is always active. For Fiat sportsbook I don't think it will come to a point that they will die as they can always adjust and accept multiple types of currencies just to adjust on where the market is at.
What do you think about its chances.
Of course, if we do not consider other factors that may govern gambling, eg legislation. We can say that crypto sportsbook is going strong and is gradually replacing fiat sportsbook. In addition to the factors you mentioned above, the development of cryptocurrency is also extremely important. A lot of people love to gamble, so it will be even better when they can gamble and speculate with cryptocurrencies. It is becoming a trend. However, to say that crypto sportsbook can replace fiat sportsbook. It is wrong!
1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
2. Anonymous gambling.
3. Instant deposit and withdrawals.
I think these are pretty poor reasons to give and they are not unique to crypto. Any regulated business will be required to know where player funds are going in and out. If they are based in countries like the US, the UK or Europe they will be required to know the source of funds as this prevents money laundering. Once you start using sites that do not do these checks, you should be very wary about how they will treat their customers in future and are the sort of operation that could disappear overnight. Anonymity is covered by the last point but this usually works both ways, many online casinos do not share who owns them and this can substantially up the risk that they can take player funds with no oversight. Instant deposit and withdrawals - most developed countries are capable of doing this now and it will roll out to all countries in time. I can send funds and receive funds via visa card almost instantly already - probably faster than even the block chain.
Yes but I do think you are missing out the whole point. The cryptocurrencies are more trackable as compared to any fiat or cards. There are so many illegal businesses out there but you can very easily keep a track of your gambling business. You can ofcourse have the customers sign the legal doc, where their information can be used if they are under any investigation.
Cryptos are not anonymous!
They are literally the most transparent currencies if a person knows how to keep a track of everything. I do think that KYC is already mandatory for most of the wallets and at the same time linking your bank account and the wallet takes seconds.
It's not like people would hide something here. Also the gambling sites have stopped advising users to use the " IP address changed " things like tunnel bear and most people are banned instantly if they do something like this. This actually sends us a signal that the gambling companies are actually getting serious to prevent any problems.
1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....
What do you think about its chances.
KYC and anonymous betting are not happening even with crypto-only-houses. They do ask to clear KYC for some reasons. My spouse got rewards into a gambling account for promoting them in this forum but when tried to withdraw the funds they catch and asks for KYC for no gambling inovolved. But, we solved the situation by explaining no-deposits were made but the funds are rewards hence that rule will not be applicable. I mean these days all crypto gambling houses are too keen to make us clear KYC things.2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....
What do you think about its chances.
Instant deposits and withdraws are possible with fiats as well. I am trying to say these are not new just because of crypto adoption. Moreover, bitcoin payments need at least 10 minutes and I am afraid hard core gamblers are ready account this 10 minute delay as instant.
Overall, if crypro gets power to replace fiats in our day to day life then it will replace in gambling industry as well.
1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
2. Anonymous gambling.
3. Instant deposit and withdrawals.
I think these are pretty poor reasons to give and they are not unique to crypto. Any regulated business will be required to know where player funds are going in and out. If they are based in countries like the US, the UK or Europe they will be required to know the source of funds as this prevents money laundering. Once you start using sites that do not do these checks, you should be very wary about how they will treat their customers in future and are the sort of operation that could disappear overnight. Anonymity is covered by the last point but this usually works both ways, many online casinos do not share who owns them and this can substantially up the risk that they can take player funds with no oversight. Instant deposit and withdrawals - most developed countries are capable of doing this now and it will roll out to all countries in time. I can send funds and receive funds via visa card almost instantly already - probably faster than even the block chain.
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.
I do think it's already on the way to replace that. With cryptos being integrated everywhere, this is already a dream of many crypto gambling companies and at the same time more and more people are getting involved with it. The right way would be :
1. Proper education of people regarding cryptos and how it works
2. Integrating more coins on the gambling sites
The crypto gambling started very early but is evolving very slowly. Only after the year 2017 we did she a jump therefore I do think that the companies need :
1. Better staff, better analysts
2. Lower fee on sending and receiving BTC
3. Instant withdraws a deposits available everywhere
4. A little bit more advertisement
5. Proper integration with things like Gamcare.
P.S. in a offline casino there has been news of having a faucet machine which runs just on cryptos , which does mean these companies are already seeing the potential in the crypto gambling.
I don't think it will replace it but I think crypto sportsbooks might be able to dominate the sports betting industry( and yes, I also think the same thing will happen for online crypto gambling casinos). also, other than fiat sportsbooks start accepting BTC and other cryptocurrencies there is always an option for fiat sportsbooks to integrate some of the advantages of playing on a crypto sportsbook.
Users who have used to cryptocurrency based gambling sites won't go for fiat based casinos anymore. This is the understanding about me, but this used to vary between users. Most of the gamblers who are into sportsbook usage and sports betting years back will not prioritise cryptocurrency accepted sportsbooks. New gamblers prioritise cryptocurrency accepted sportsbooks. Upon all these factors I believe the future will have gambling sites with both cryptocurrency and fiat acceptance.
What do you think about its chances.
It remains to be seen. For me crypto casinos are the future, and if fiat sportsbooks don't adapt to the new market conditions, the crypto casino will become the de facto place for the sports betting. That is because there are many innovative ideas in the field of betting and these ideas require some technical innovation in order to work. However, I don't see many ideas that could fit the fiat gaming world.
It could be yes or it could be no, but I slightly doubted that it will never happen that fiat sportsbook gambling will replace crypto casinos. There are still people easy to use for them their ATM cards or bank account to sportsbook casino that already trusted. Because a licensed booker is somehow could be trusted upon putting a large amount of money even though there's a high chance that could be linked your personal information, that is not a big deal for them.
In crypto bookers, is an option if gambling in your country is prohibited and the booker is trusted enough to deposit a huge amount that is find, but mots likely as of now, they required KYC even though they accept cryptocurrencies.
In crypto bookers, is an option if gambling in your country is prohibited and the booker is trusted enough to deposit a huge amount that is find, but mots likely as of now, they required KYC even though they accept cryptocurrencies.
The question is just the same as "will crypto replace fiat" in general (as payment method).
Fiat is not something replaceable, it will always there since many people still use fiat and will be using it till the end of the world IMO.
Not really, these days many crypto sportsbook ask KYC and I believe KYC will be a mandatory in the future even if we are dealing with crypto.
I know but there are still some who does not require a KYC, and that is suppose to the the norms in the crypto space since they advertise anonymous gambling. If we submit on KYC, then there's no advantage anymore. Popular sports betting sites like sportsbet.io and stake, they never ask KYC. Fiat is not something replaceable, it will always there since many people still use fiat and will be using it till the end of the world IMO.
1. No KYC
2. Anonymous gambling.
2. Anonymous gambling.
Not really, these days many crypto sportsbook ask KYC and I believe KYC will be a mandatory in the future even if we are dealing with crypto.
3. Instant deposit and withdrawals.
It depends on the sportsbook, not all casino offers instant deposit and withdrawal.
Instant deposit is a bit risky due to double spend so I think it is not a benefit anymore compare it fiat.
I agree but I'm using a sportsbook where my transaction are instant, also depends on the coin you are using but with altcoins like TRX, DOGE, and XRP, transaction fee are cheap and faster as well.
The question is just the same as "will crypto replace fiat" in general (as payment method).
Fiat is not something replaceable, it will always there since many people still use fiat and will be using it till the end of the world IMO.
Not really, these days many crypto sportsbook ask KYC and I believe KYC will be a mandatory in the future even if we are dealing with crypto.
It depends on the sportsbook, not all casino offers instant deposit and withdrawal.
Instant deposit is a bit risky due to double spend so I think it is not a benefit anymore compare it fiat.
Fiat is not something replaceable, it will always there since many people still use fiat and will be using it till the end of the world IMO.
1. No KYC
2. Anonymous gambling.
2. Anonymous gambling.
Not really, these days many crypto sportsbook ask KYC and I believe KYC will be a mandatory in the future even if we are dealing with crypto.
3. Instant deposit and withdrawals.
It depends on the sportsbook, not all casino offers instant deposit and withdrawal.
Instant deposit is a bit risky due to double spend so I think it is not a benefit anymore compare it fiat.
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I guess so. But it still needs time before crypto sportsbook replaces fiat sportsbook. But people will see the benefit of using crypto as the bet because, as what @OP mention, they will have their privacy not to send any document just to playing gambling. If they use crypto, they can buy in any exchange and send it into the crypto sportsbook. It will give them a new experience for playing gambling using crypto as they will never get from the fiat sportsbook. We need to give them time to decide and we will see if that can bring more adoption to the gambler.
No chance it will replace the traditional casionos, they are here from the start and their market is already huge.
They have a license, regulated by the authorities so the confidence of gamblers is high.
Crypto is still quite complicated to some, and the scam rate in crypto is huge, so probably that could be some reason why they will not gain as much trust as the fiat sportsbook. However, its still not a bad thing as crypto sportsbook are really helping us especially the small time gamblers to enjoy since fiat casinos are full of restrictions and a big expensive.
They have a license, regulated by the authorities so the confidence of gamblers is high.
Crypto is still quite complicated to some, and the scam rate in crypto is huge, so probably that could be some reason why they will not gain as much trust as the fiat sportsbook. However, its still not a bad thing as crypto sportsbook are really helping us especially the small time gamblers to enjoy since fiat casinos are full of restrictions and a big expensive.
I know for a fact that no kyc and anonymous gambling means the platform is some unregulated gaming site, and should a problem arise it's very difficult to have a case against them.
That's correct, and mostly it will not attract whales because they are playing with money, however, their reputation is big enough to risk when they scam people, a crypto casinos making millions of dollars monthly will not scam gamblers even if they gamble millions also, i'm not saying it will not happen but since they are protecting their business, they would not destroy their reputation. For gamblers, if they want to minimize the risk, then gamble in differnet sites.
I know for a fact that no kyc and anonymous gambling means the platform is some unregulated gaming site, and should a problem arise it's very difficult to have a case against them.
But on the positive side, what crypto gambling brings to the table is far much better than most fiat site which is something most gamblers will be receptive to and with the reasons brought forward these could be popular just not sure about replacing fiat sportsbooks.
But on the positive side, what crypto gambling brings to the table is far much better than most fiat site which is something most gamblers will be receptive to and with the reasons brought forward these could be popular just not sure about replacing fiat sportsbooks.
I think not yet replace but will be a good competitor of fiat sportsbooks. Since a lot of these traditional gamblers will still prefer to deal with their fiat money. Some will stay at fiat, but some will try crypto. But for these new gamblers, more than likely, they will go for crypto sportsbooks. Points 1 & 2 alone are good features of crypto bookies where these gamblers will be attracted to.
1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....
Once crypto gambling (but also sports betting) becomes so popular that they start replacing traditional FIAT-based betting options, at least the first two points will be history 2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....
States and institutions certainly won't miss out on profits and tax revenues from crypto gambling and will find ways to make money from it then as well.
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.
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