Will There Comes A Time That All Online Gambling Sites Are CryptoCurrency Based?

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Quote from: Swordsoffreedom on July 20, 2020, 03:33:19 PM

There are many online gamblers who choose fiat money for online gambling. Again, there are many people who like online gambling but they do not know anything about crypto currency, they do not know how to use crypto. so, if all online gambling site are crypto currency based, then a lot of people won't play online gambling. because of this, online sites will suffer financially.

When all online gambling platforms switch to a full fledged, crypto-only gambling, I'm sure it'll be at a time when cryptocurrencies are widely adopted and used as the de facto currencies of the internet. Until then, online gambling sites would continue supporting fiat, bitcoin or both. Currently, there are a lot of traditional gambling platforms that are switching to cryoto based payments. This could become a trend in the near future.

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Quote from: coin-investor on September 13, 2019, 11:41:18 AM

Anonymity and popularity of Cryptocurrency are two of it's the best attraction.
And Cryptocurrency games are more transparent.
Will, there comes a time that all online gambling sites will be Cryptocurrency based?

Who knows? Your statements could become complete true over the time because cryptocurrencies are having all the potential to make it possible. At the same time gambling houses are working with all their efforts to get what exactly gamblers are preferring; it means when gamblers are comfortable with fiat gambling then they will do anything to make it available for those gamblers.

In some sense until gambler's will not be demanding about fiat based the gambling, I guess we're not going to have all gambling houses will be having only cryptocurrencies. When there are gamblers who are preferring fiats based gambling, then such gambling will continue to exist regardless of how crypto based a gamblers are dominating in industry. In many discussions, this community has concluded about fiat will never get disappeared from this world just because of cryptocurrencies.

When fiat currencies will be staying with us, then definitely there will be some fiat based a gamblers as well which makes there will be less possibilities for having all the gambling houses to be cryptocurrencies only based.

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as crypto adoption advances the casino that doesn't get accept Bitcoin will eventually adopt crypto to have more players. they will see their users decline and has to also accept btc because it's going to become norm. 5-10 years from now crypto will also be part of the internet that has to be adopted since web will be full of block chain dapps.

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Quote from: Shimmiry on July 20, 2020, 11:25:24 PM

There is a possibility that all online gambling sites will be based on cryptocurrency in the future because day by day a lot of people in every country has recognized bitcoin and cryptocurrency, so cryptocurrency would increase its mass adoption that everyone will have their cryptocurrency and will be playing in an online crypto casino.

As long as many new gambling sites launch and promote the site on many websites, there is a chance for people out there to visit online crypto gambling. It will grow faster if in many countries legalize the crypto, so people will not be afraid to use crypto, even just playing gambling. If that happens, the mass adoption will not take too long, and we will see the crypto will get more popular among the people. But before that is happening, I think we can still introduce crypto to many people, but we don't have to force them to use crypto and let them decide by themselves.

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Currently, cryptocurrencies aren't evolved enough to become a decent medium of exchange and thus they are not ready to serve role of betting means. When I gamble using bitcoin, for example, it is not possible for me to understand how much at stake. In a few years from now, we may regret about our reckless gambling games when we would place such a big bets. That is why, fiat money remains perfect for gambling, have fun and gamble using fiat, store value with cryptocurrencies. In my opinion, that would be rational decision for those who want to mitigate risks. When cryptocurrencies prove their value and become less volatile and speculative, they will replace current fiat systems and fiat based casino will be crypto based.

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Quote from: alani123 on July 20, 2020, 11:40:23 PM

I think sooner or later most of the gambling and betting sites will start accepting bitcoin and crypto in general in one way or another.
Perhaps the biggest providers wouldn't want to carry much of the risk and would rather utilize a third party solution to simply give them a balance in FIAT after commission. Some of the bigger betting sites do this by using neteller from what I know. I could definitely see more sites doing it in the future.

The existing casino can acknowledge accepting Cryptocurrencies as payment in these new normal era where we don't want our bank accounts to be fill up in online gambling. In my country there is a popular bitcoin wallet that are partnered in many gaming platform to buy the in game points, some casinos can partnered with them if casino will like to do it via third party so there is no much change that they can adapt, but I would love to see in my country a crypto based where I can bet via crypto not that they will convert my crypto to fiat in order to play.

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I think sooner or later most of the gambling and betting sites will start accepting bitcoin and crypto in general in one way or another.
Perhaps the biggest providers wouldn't want to carry much of the risk and would rather utilize a third party solution to simply give them a balance in FIAT after commission. Some of the bigger betting sites do this by using neteller from what I know. I could definitely see more sites doing it in the future.

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There is a possibility that all online gambling sites will be based on cryptocurrency in the future because day by day a lot of people in every country has recognized bitcoin and cryptocurrency, so cryptocurrency would increase its mass adoption that everyone will have their cryptocurrency and will be playing in an online crypto casino.

STT

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You could really state the opposite, as FIAT currency standards become ever worse and loose with excess availability of cash then I think it makes more sense to take high risk with cash that is more rapidly loosing value. Thats part of BTC in theory, you may gamble a crypto token which if you had done nothing might have gone from 10k to 5k like BTC did in March. Most of the time Bitcoin is fairly stable but theres always the argument you lose what might have lost value anyway, FIAT will at some point in time goto zero. Dust to dust and it is only paper and somebody in politics says its good for the value but promises of politics is not a sound basis for currency so its fair to say gambling in plain cash will increase alongside its instability rising which presently is predictable.

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Quote from: Swordsoffreedom on July 20, 2020, 03:33:19 PM

There are many online gamblers who choose fiat money for online gambling. Again, there are many people who like online gambling but they do not know anything about crypto currency, they do not know how to use crypto. so, if all online gambling site are crypto currency based, then a lot of people won't play online gambling. because of this, online sites will suffer financially.

Good point, the most possible thing that may happen in the future is that all fiat based casinos add crypto as one of the payment method only. The main currency will be still fiat and crypto is just an alternative on those fiat casinos. It is happening already in the past few years where some fiat based casinos started to accept bitcoin as payment method. There is almost zero chance to see all online gambling are cryptocurrency based imho.

Swordsoffreedom

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There are many online gamblers who choose fiat money for online gambling. Again, there are many people who like online gambling but they do not know anything about crypto currency, they do not know how to use crypto. so, if all online gambling site are crypto currency based, then a lot of people won't play online gambling. because of this, online sites will suffer financially.

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Quote from: Genemind on July 20, 2020, 12:19:20 AM

I doubt if crypto will replace fiat completely in any terms, even at gambling. People will always be comfortable using fiat from time to time, and to think of it, there are instances when we choose to use fiat over crypto even we can choose to pay in crypto because we value crypto more as an investment tool or a store of value.

No, it will not because some people who already use fiat casino will select that casino. They can feel the convenience to play in that casino, so they don't move to another place or try the other place. They can move to another site if their friend suggests them to try the other gambling site. Without any suggestions, they will not try by themselves.

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I doubt if crypto will replace fiat completely in any terms, even at gambling. People will always be comfortable using fiat from time to time, and to think of it, there are instances when we choose to use fiat over crypto even we can choose to pay in crypto because we value crypto more as an investment tool or a store of value.

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I think the reason why online gambling sites are transparent is because of the blockchain, especially if they are showing the hashes of the games for you to verify how the outcome is presented. But it doesn't mean that the reason is having crypto. There some possibilities that non-crypto gambling sites could also adopt blockchain technology without converting 100% to crypto.

But logically, if they will adopt blockchain which proves the efficiency of its usage to crypto, why not adopt crypto itself right? Perhaps, "There's a chance" but for me, the probability is still a "mixed" fiat and crypto for most online gambling sites available.

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It could happen but it all depends on the developer and I am sure there would still be some player who would choose to deposit on Fiat if crypto currency isn't that convenient to them.
There are still some online gambling sites or apps that only use Fiat and they are still working well even though there are so many competitive crypto gambling sites so it would only matter to the developers and also the gamblers as well.

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Quote from: Latviand on July 19, 2020, 01:09:48 PM

Quote from: stomachgrowls on September 13, 2019, 12:19:10 PM

Quote from: coin-investor on September 13, 2019, 11:41:18 AM

Will, there comes a time that all online gambling sites will be Cryptocurrency based?

No, fiat based ones would still exist no matter what because there would be always players who do prefer on playing fiat based rather than on considering crypto.
We know that there are people who dont totally trust on how crypto works and they dont really care at all and by means of security they do highly believe on what fiat-based online casinos have the edge.

Probably, fiat will still dominate the online gambling sites but in terms of cryptocurrency based gambling casinos, it will just become more popular and develop well compared before.

We all know that cryptocurrencies are becoming popular nowadays due to its benefits and importance in the market. Although, fiat is the currency that we are used to spend in gambling, cryptocurrency can also achieve that but it will not totally dominate the use of fiat in a certain gambling platform.

If people know how cryptocurrencies works and the importance of it in the market, probably, many people will engage in the use of it whenever they gamble.

That is what we should expect,

Even now, the number of developed gambling sites are still continue to increase. Even if the fiat base online gambling sites do exist, they cannot stop cryptocurrency-based gambling and it is possible that it becomes more popular than fiat-based in the future.

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Quote from: stomachgrowls on September 13, 2019, 12:19:10 PM

Quote from: coin-investor on September 13, 2019, 11:41:18 AM

Will, there comes a time that all online gambling sites will be Cryptocurrency based?

No, fiat based ones would still exist no matter what because there would be always players who do prefer on playing fiat based rather than on considering crypto.
We know that there are people who dont totally trust on how crypto works and they dont really care at all and by means of security they do highly believe on what fiat-based online casinos have the edge.

Probably, fiat will still dominate the online gambling sites but in terms of cryptocurrency based gambling casinos, it will just become more popular and develop well compared before.

We all know that cryptocurrencies are becoming popular nowadays due to its benefits and importance in the market. Although, fiat is the currency that we are used to spend in gambling, cryptocurrency can also achieve that but it will not totally dominate the use of fiat in a certain gambling platform.

If people know how cryptocurrencies works and the importance of it in the market, probably, many people will engage in the use of it whenever they gamble.

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Quote from: Oilacris on July 18, 2020, 06:36:53 PM

Quote from: dimonstration on July 18, 2020, 09:10:27 AM

Those fiat based casino might add features sooner to attract some crypto users, but it will take time depending on how they can manage the change they will about to do. There are some crypto based casino now that allows debit or credit card that allows to deposit fiat money like in sportsbet now. Sooner or later fiat based gambling sites may accept cryptocurrency too due to the demand it can benefit them.

There would be surely some integration that we would able to see in future and it will all depend on the demand.Crypto casinos can adapt optional fiat deposits and Fiat casinos can adapt crypto payments.

It isnt really that much require too much effort but there are main factors on where they should think off when they are tending to dive in neither decentralized or centralized stuff yet we know the differences

among the two thats why its hard to think on collaborating two things at the same time but well it all depends into their choice if they consider such add up.

If the country will allow it then it's posible to happen, since sportsbet already doing it, but only in depositing in their account,there might be some option from fiat based to chose whether they will play using their crypto deposit without converting yet to fiat or the reciprocal. It will be a matter of putting some option before entering the specific game. But these collaboration will only be possible if their government or liscensed (if they have it) will permit them to do the collaboration.

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Quote from: coin-investor on September 13, 2019, 11:41:18 AM

Anonymity and popularity of Cryptocurrency are two of it's the best attraction.
And Cryptocurrency games are more transparent.
Will, there comes a time that all online gambling sites will be Cryptocurrency based?

Still, there are people that tend to use fiat than cryptocurrency and I am one of them. I can earn fiat easily than crypto so I am giving so much importance to my crypto. On the other side, crypto goes up and down. If it goes up I will surely regret that I used it especially if I lose the game.

Player like you will be one of the reasons why most online casinos will still have fiat on their options. And I don't think they will go in crypto full blast anytime soon. For some players, playing fiat has advantages on them like they don't have to worry about volatility. But for some players who want anonymity, they will go for online casinos that don't require KYC. But online casinos with fiat will be here long time just like traditional physical casinos.

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I think it depends on the regulation, I see a gambling site is like an exchange. A few years a go when bitcoin or crypto currency as a whole is not regulated yet there is no exchanges that directly use bank account to deposit surely in certain countries. But now, when crypto currency has almost been regulated (most likely is included to commodity) many exchange has expand for their user to use bank account to deposit directly. So, when I see this case it will be same path with gambling site. They might a lot of gambling site that use crypto currency if the country allowed it. Even, if this happen most likely gambling conventional will take another opportunities to use crypto currency as a tool for payment.

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