Will There Comes A Time That All Online Gambling Sites Are CryptoCurrency Based? - page 3.

sana54210

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Quote from: panjul07 on October 02, 2019, 04:59:36 AM

Crypto gambling industry is indeed increasing year to year, we can hope to see more new gambling sites come in the future but to see all gambling sites are based on cryptocurrency will not happen as I have said previously unless all countries legalize crypto as the main currency to replace fiat. Fiat casino or even any other online industry such as ecommerce will still use fiat as the main currency.
Do not expect too much while not all countries are supporting crypto as a currency. Maybe it may happen in a country where the governement supports crytpo and online gambling, but to see it worldwide is still like a day dreaming at this moment. I do not mean to underestimate crypto or cryto gambling, just looking at the fact about it.

I am still trying to imagine how anyone would believe crypto gambling would ever be the only gambling site at any point in time. This has nothing to do with looking down on cryptocurrency but we have to be realistic. Cryptocurrency is loved but not accepted all over the world yet and it would be difficult to wipe out fiat system completely since it is also loved by many and well known.

I think we should just get it straight to our heads that fiat payment will be there for live because everyone cannot know everything about crypto, there. There are a lot of people that still have little knowledge of cryptocurrency and it would take many years or even a lifetime to educate them on this. Let's just say for now that it will be very difficult or rather it’s impossible to have only crypto as the only method of payment.

redsun114

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Quote from: Sadlife on October 03, 2019, 10:25:14 AM

obviously gambling sites are being abused by this money launderers so that’s the reason why Governments are getting paranoid(or better say they are exaggerating things)
A individual can use the sites to transfer the amounts to crypto and withdraw as if he was using mixing company,so the abusing is indeed

I don't think there's any kind of interference by the government that would stop crypto gambling from dominating the gambling world in the nearest 5 years. It's very visible that cryptocurrency is leading the market and most owner of gambling sites already know this and are now cooperating with it.

I can't even recall the last time I used fiat in gambling, not when there are a lot of intriguing casino site with amazing bonus offers that cannot be received and coupled with the fact that our identities are hidden. The advantages of crypto sites is far more than fiat and I am very convinced that fiat gambling would go into extinction sooner or later.

Zanzibet

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yes definitely cryptocurrency is the new best thing although many people are still a bit skeptical about using it, it does not stop the gambling sites from accepting cryptocurrency due to competition and how attractive the market has become

tvplus006

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Quote from: South Park on October 05, 2019, 11:27:44 AM

Quote from: Ailmand on October 02, 2019, 04:42:43 AM

I think that online gambling sites would still have an option to have fiat as their currency since not all gamblers have cryptocurrency. If all yhe website will be crypto based, this might become a hassle to some of the players since cryptocurrency might not be allowed in their country. So, fiat based currency gambling sites would remain.

There is a reason why many casinos accept several different currencies and that is because they want to capture as many people as they can, so it will be a mistake for traditional casinos to accept only cryptocurrencies even if bitcoin became the dominant form of money in the future, as long as there is still fiat around you can be sure they will accept it since they are not going to want to limit themselves to cryptocurrencies and lose customers just because they do not accept fiat.

This is in my opinion the most correct approach for a casino. The casino must accept any currency that its visitor may have. And cryptocurrency should not be an exception.

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Quote from: gabbie2010 on October 06, 2019, 05:37:28 AM

Quote from: SummerBliss on October 06, 2019, 03:51:34 AM

Quote from: coin-investor on September 13, 2019, 12:41:18 PM

-snip-

Crypto-based gambling sites are still behind in the competition. Sites like Bet365 have over 35 million users whereas biggest of the crypto-based gambling sites have at max like 1M users.
But the thing is crypto gambling is much more anonymous and non-traceable. These features surely attracting more and more people towards crypto gambling. The only condition when all online gambling sites start using cryptocurrency is when users demand for that. Consumer is the king! As far as users are ok with fiat gambling, I don't see any reason why sites like Bet365 will switch to crypto.

Gradually the numbers of crypto based gambling sites is increasing although they have not meet up to sites like Bet365 as you rightly said however as the numbers of cryptos users and enthusiast increased more gamblers will divert to crypto based sites based on it anonymity while the compulsory KYC for fiat based gambling sites is quite discouraging and shelving new gamblers switch over to crypto based ones.

Yeah, KYC on gambling site is tedious job especially when laws regarding gambling are stringent in your country. In my country, we can't claim deductions on gambling income and we have to pay flat hefty taxes on such income. But good thing with crypto gambling is that authorities will never know which income is from gambling and which from other sources which save lot of taxes for me.

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Quote from: SummerBliss on October 06, 2019, 03:51:34 AM

Quote from: coin-investor on September 13, 2019, 12:41:18 PM

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?

Crypto-based gambling sites are still behind in the competition. Sites like Bet365 have over 35 million users whereas biggest of the crypto-based gambling sites have at max like 1M users.
But the thing is crypto gambling is much more anonymous and non-traceable. These features surely attracting more and more people towards crypto gambling. The only condition when all online gambling sites start using cryptocurrency is when users demand for that. Consumer is the king! As far as users are ok with fiat gambling, I don't see any reason why sites like Bet365 will switch to crypto.

Gradually the numbers of crypto based gambling sites is increasing although they have not meet up to sites like Bet365 as you rightly said however as the numbers of cryptos users and enthusiast increased more gamblers will divert to crypto based sites based on it anonymity while the compulsory KYC for fiat based gambling sites is quite discouraging and shelving new gamblers switch over to crypto based ones.

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Quote from: coin-investor on September 13, 2019, 12:41:18 PM

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?

It is possible, if most of online transaction are regulated by cryptocurrency however, this will take time to happen though. The fact that anonymity gives more advantages and favorable to the users since their transaction cannot be tracked down so their identity is away from the sight of public. However, their users will be limited only to crypto users so I think it is still better if there will be some online gambling will accept fiat as a bet.

SummerBliss

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Quote from: coin-investor on September 13, 2019, 12:41:18 PM

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?

Crypto-based gambling sites are still behind in the competition. Sites like Bet365 have over 35 million users whereas biggest of the crypto-based gambling sites have at max like 1M users.
But the thing is crypto gambling is much more anonymous and non-traceable. These features surely attracting more and more people towards crypto gambling. The only condition when all online gambling sites start using cryptocurrency is when users demand for that. Consumer is the king! As far as users are ok with fiat gambling, I don't see any reason why sites like Bet365 will switch to crypto.

Ucy

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Quote from: stadus on October 04, 2019, 04:56:28 PM

Quote from: hirngespenst on October 04, 2019, 04:14:03 PM

Crypto is the best for gambling. No one willingly wants to do KYC to play gamble on the internet. So, if you choose fiat, you have to go through the KYC procedure. And honestly, every people love to stay anonymous on the internet, so, cryptocurrency is the real solution to make a gambler anonymous and safe. So, day by day all the gambling sites will be based on crypto, which will bring more volume on the crypto market!

The gambling industry is one of the biggest contributor to the success of crypto market.
I still remember when I was new here, there's no ICO and IEO yet, and most of the activities are from HYIP and gambling sites, I even invested in gambling sites bankroll in the past and during that time, bitcoin and altcoins is a bit stable as they don't stay long in bear market.

Only when ICO came into popularity then it makes this market a big pump and dump scheme, but who am I to complain, in the first place I already know that its risky to risk money here and its unpredictability has been a norms already.

Interesting point. Big money coming in and out in a short time somehow destabilises the market. I guess preventing the big money from having too much influence on the market would help. I actually remember back in 2016/2017 the market moved predictably or rhythmically. I think the big movements (both up and down movements) of price were usually monthly thing then. Maybe I came during the good time.

TheCoinGrabber

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Possible though I'm not counting on it. As long as fiat is still around, there will be gambling sites that would accept them. Sure if gambling with crypto becomes mainstream then even previously-fiat only sites would accept them but I don't thing we can completely push fiat out of this industry.

There will always be people who would be willing to sacrifice something for convenience.

Pinkris128

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Quote from: coin-investor on September 13, 2019, 12:41:18 PM

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?

In time, all online casinos will integrate cryptocurrency in their business. Both fiat and crypto have their pros and cons so keeping both of them letting their customer decide will solve the problem. In my opinion, fiat and crypto can be used both by any industry depending on their customer and transaction with their suppliers.

South Park

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Quote from: Ailmand on October 02, 2019, 04:42:43 AM

I think that online gambling sites would still have an option to have fiat as their currency since not all gamblers have cryptocurrency. If all yhe website will be crypto based, this might become a hassle to some of the players since cryptocurrency might not be allowed in their country. So, fiat based currency gambling sites would remain.

There is a reason why many casinos accept several different currencies and that is because they want to capture as many people as they can, so it will be a mistake for traditional casinos to accept only cryptocurrencies even if bitcoin became the dominant form of money in the future, as long as there is still fiat around you can be sure they will accept it since they are not going to want to limit themselves to cryptocurrencies and lose customers just because they do not accept fiat.

Shinpako09

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Quote from: coin-investor on September 13, 2019, 12:41:18 PM

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?

For me, no. Even how far crypto have reach, there are still people who prefer fiat over crypto. Some may give it a try but pretty sure some site will maintain that only fiat is allowed to used. I don't see anything wrong about it and we can't force someone to like crypto simply because it's their own preference. What's posssible is lot of crypto based gambing site will be created as time pass by because of how convenient and profitable it is.

LogitechMouse

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Quote from: hirngespenst on October 04, 2019, 04:14:03 PM

Crypto is the best for gambling. No one willingly wants to do KYC to play gamble on the internet. So, if you choose fiat, you have to go through the KYC procedure. And honestly, every people love to stay anonymous on the internet, so, cryptocurrency is the real solution to make a gambler anonymous and safe. So, day by day all the gambling sites will be based on crypto, which will bring more volume on the crypto market!

This is one reason why adoption of cryptocurrency around the world. There are many crypto gambling sites at this moment and I believe that it will increase year after year. There are many gamblers too who doesn't want to reveal themselves or their personal information so they prefer gambling online rather than going to casinos.

Crypto gambling sites will help the increase of adoption of cryptocurrencies.

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Quote from: stadus on October 04, 2019, 04:56:28 PM

Quote from: hirngespenst on October 04, 2019, 04:14:03 PM

Crypto is the best for gambling. No one willingly wants to do KYC to play gamble on the internet. So, if you choose fiat, you have to go through the KYC procedure. And honestly, every people love to stay anonymous on the internet, so, cryptocurrency is the real solution to make a gambler anonymous and safe. So, day by day all the gambling sites will be based on crypto, which will bring more volume on the crypto market!

The gambling industry is one of the biggest contributor to the success of crypto market.
I still remember when I was new here, there's no ICO and IEO yet, and most of the activities are from HYIP and gambling sites, I even invested in gambling sites bankroll in the past and during that time, bitcoin and altcoins is a bit stable as they don't stay long in bear market.

Only when ICO came into popularity then it makes this market a big pump and dump scheme, but who am I to complain, in the first place I already know that its risky to risk money here and its unpredictability has been a norms already.

As I believe also, crypto gambling sites growing which means that crypto accumulation keeps moving and people may consider this finally a currency to use not just to be an investment. We are glad to see it huge development and hope others could appreciate more. But for it possible that they are strict in complying KYC by then and could be the way to minimize scamming activities.

hahay

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Indeed anonymous is interesting for the online world and especially about gambling, but I'm not sure about all crypto-based online gambling sites because there are times for online gambling users to calculate fees for transactions such as deposits and withdrawals and some of gamblers have other views about it, they or fiat users say if online gambling crypto has a greater fee than fiat. With these different views, crypto cannot be used as a basis for online gambling.

stadus

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Quote from: hirngespenst on October 04, 2019, 04:14:03 PM

Crypto is the best for gambling. No one willingly wants to do KYC to play gamble on the internet. So, if you choose fiat, you have to go through the KYC procedure. And honestly, every people love to stay anonymous on the internet, so, cryptocurrency is the real solution to make a gambler anonymous and safe. So, day by day all the gambling sites will be based on crypto, which will bring more volume on the crypto market!

The gambling industry is one of the biggest contributor to the success of crypto market.
I still remember when I was new here, there's no ICO and IEO yet, and most of the activities are from HYIP and gambling sites, I even invested in gambling sites bankroll in the past and during that time, bitcoin and altcoins is a bit stable as they don't stay long in bear market.

Only when ICO came into popularity then it makes this market a big pump and dump scheme, but who am I to complain, in the first place I already know that its risky to risk money here and its unpredictability has been a norms already.

hirngespenst

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Crypto is the best for gambling. No one willingly wants to do KYC to play gamble on the internet. So, if you choose fiat, you have to go through the KYC procedure. And honestly, every people love to stay anonymous on the internet, so, cryptocurrency is the real solution to make a gambler anonymous and safe. So, day by day all the gambling sites will be based on crypto, which will bring more volume on the crypto market!

sana54210

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Quote from: judeafante on October 03, 2019, 09:59:57 AM

It's possible maybe 5 years from now, gambling operator will find out how good Cryptocurrency is and they will integrate it to their system and it will become advantageous to operator and gamblers, it will only happen if these gambling sites that are based in Cryptocurrency will succeed and so far it's succeeding so we'll see, it happening five years from now.

I think you are right, considering how highly loved and famous cryptocurrency is at the moment, we won't be speculating wrongly if we say fiat would be totally eradicated in few years which I believe 5 years is even a long time for this to take place. Cryptocurrency gambling is quite safer and also gives more profit especially when there is a bull run.

Even the casino owners are now are that gamblers are more interested in playing with crypto than fiat, so definitely in few years the owner of fiat gambling site would find a way to convert it to crypto site or even create new gambling sites to meet up to the needs of players. They have to follow the trend if they wish to make profit.

Sadlife

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Quote from: serjent05 on September 26, 2019, 06:56:26 PM

Quote from: ?? on ??

Only people without crypto knowledge will be using the fiat in online casinos because they have no reason to still use fiat when we got crypto.Most casino games available on crypto gambling sites,withdrawal and deposits made easy and further no one will ever notice who we are even if we won in millions.

Well that simply put things that people will continue to use Fiat currency in online gambling because cryptocurrency cannot and will not monopolize the online gambling industry. There will always be a country that will oppose cryptocurrency implementation especially in online gambling because government are too paranoid when it comes to money laundering.

Well obviously gambling sites are being abused by this money launderers so that’s the reason why Governments are getting paranoid(or better say they are exaggerating things)
A individual can use the sites to transfer the amounts to crypto and withdraw as if he was using mixing company,so the abusing is indeed

Quote from: judeafante on October 03, 2019, 09:59:57 AM

Quote from: coin-investor on September 13, 2019, 12:41:18 PM

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?

It's possible maybe 5 years from now, gambling operator will find out how good Cryptocurrency is and they will integrate it to their system and it will become advantageous to operator and gamblers, it will only happen if these gambling sites that are based in Cryptocurrency will succeed and so far it's succeeding so we'll see, it happening five years from now.

If they can operate using VPN or being accessible then yeah 5 years is enough even government interfering yet they cannot stop the spreading of crypto gambling against fiat gambling online

Topic: Will There Comes A Time That All Online Gambling Sites Are CryptoCurrency Based? - page 3. (Read 3831 times)