Topic: Will you still gamble? - page 3. (Read 1762 times)

I would be able to comply with this, if and only if I get something out of the equation. The problem with incurring taxes and fees with something such as a casino that trading and exchanges do not have is the fact that people directly see the incentive of why taxes and fees are important. It's the only way that they could pay the devs for instance, and some of it is being used to further improve the infrastructure and fund future developments in the exchange. Which is why networks like Ethereum and exchanges like binance were able to get away with charging their people with as much as 100 dollars in certain situations for taxes.

Casinos, this will not work. They already have the house edge which works way better for the casino than taxes and fees, cause it always guarantees that you're not just getting a cut out of the bet of the player, you're getting it all.

If this becomes the new paradigm I might stop gambling in casinos, but I hope it don't end up that way for obvious reasons lol.

Actually, competition on online casino is always tough even before. I remember playing dice games before as only popular games in online gambling here while there’s a lot of new gambling site popping just to ride the same business hype.

Competition is always in crypto business because competitors always wants to share on profit. You can consider tons of shitcoins out there as example on the competition in crypto. This competition is very helpful to all consumer like us because online casino is now being generous with their promotion just to attract players which is a win win for us.

Before, there’s no such thing as bonuses exist but right now there’s tons of them including VIP rewards.

Of course it makes sense, the logic is that it is impossible for casinos to survive until now if their business is no longer profitable, and maybe I would say that the winnings achieved by gamblers are a small part for the casino, not comparable to the profits they get, and if we see that now the casino is still surviving as normal then that means their profits are indeed much greater than the winnings achieved by gamblers, remember that the casino takes advantage of the whole and not one.

Therefore, we should never think about beating the casino, because no matter what and whenever it will never be possible, they are the ones who created the game and they are also the ones who implement the system in every game provided, so gamble enough or reasonably, don't chase something that is not visible, unreasonable hopes can lead you into the abyss.

Unironically, I could see something like that happening in some developed country where regulators and politicians could end up benefitting the industry of Fiat gambling in detriment of the cryptocurrency gambling industry.
People who really like to wager money and like to use Bitcoin and other alternative currencies because of their properties won't stop gambling because suddenly their entry into online casinos/BTC casinos has become more expensive, many of them would be likely to adapt to the world of FiAt gambling, if regulators and the government do not touch much the price of entry into those markets.

In the end, the governments within the western democracies are inclined to favour traditional economy over the new economy being built with decentralized assets.

Casinos don't need to charge fees from gamblers on every bets in order to make profit. The model of business they have is already profitable without charging fees, so they have no reason to implement the same concept trading platforms use.

On the other hand, exchanges profit solely through fees. They need this mechanism to keep their platforms sustainable and profitable. When a trader loses money, he doesn't lose money to the platform, but to the market. It's different when compared to casinos, where the house directly profits from the gambler's loss. In gambling, players are betting against the house, but at exchanges, traders aren't trading against the platform.

It would be a greedy move from casinos to charge fees on every placed bets. And I guess nobody would play on that site, since there are many other alternative ones which don't charge anything.

Any casino will always be in profit. No matter how you compete with it and no matter how many people make a profit, the casino always remains in the black. I read about the principle of negative mathematical expectation, which one way or another guarantees a casino a stable income. Therefore, a self-respecting casino does not need to demand additional commissions from customers, but it is more profitable to have even more visitors, thereby increasing its profit.

I would liken this scenario to a proposed scenario in US banking right now. This isn’t going to happen because as many have pointed out the house has the advantage already, and it’s a business that already is guaranteed to win in the end, overall. 

Its like with recent news in US banking where JP Morgan Chase CEO, and serial corrupt scumbag Jamie Dimon announced that with new regulations and proposed regulations within the industry are going to force them to have to start charging for basic bank accounts. First off they already do, as unless you’ve got a paycheck coming in to the account, there’s a monthly fee, and fees for all sorts of other things, but on top of that..they don’t pay a single cent of interest in them, and their banking savings accounts pay .01% (which is a joke considering online banks offer between 4-5% atm) ..so that’s billions/trillions of dollars they use in fractional reserve banking, where they keep nearly 100% of the profits they make from it.

So like hopefully millions of Americans will wake up and start to use legitimate banks that don’t charge and offer something back in return for lending them their money, if casinos tried to charge, some lazy / not so bright users would remain but most would head for a new casino who wouldn’t charge.

In general, they are already making a lot of money, which is more than enough to compensate themselves and the company's employees. Although fees are still necessary to continue their business, they should also consider the situation and impose fees that are fair enough for all gamblers, especially poor people. At least, gamblers still have the courage to use their site rather than leave, which obviously is not good for the company. It does not matter if they only earn a small every day because the most important thing is to keep their clients on them, or else they move to other sites that offer lower fees. 

Of course, gamblers will choose casinos that offer a convenient fee, and these casinos should not be ignored; otherwise, this will be a reason for their discontinuance. 

Right, the alternatives will be there and whichever casino does have the best alternative based on the sentiments of everyone. That's for sure where everyone is going to be. Having that kind of fee per spin, per roll and per any bet that we make doesn't really give an excitement to the gambler. Else, it might even be the reason why many gamblers are able to quit and help themselves get away from casinos because they have to be savvy than feed their urge to gamble.

this happens to be the reason the casinos always advocates gambling responsibly and the fact that gambling isn't a means of making money of a job but a form of entertainment that should be done in that respect but sadly most gamblers see it like they are going to be able to gamble and make some good money off gambling because probably they are too smart to not loose so much to the casino only to end up loosing and turning around to start wanting to blame it more on other people or the casino that th ehouse edge is much or they aren't been lucky enough.

Gambling sites have grown rapidly like mushrooms in the rainy season and this will automatically make competition between gambling sites even tighter in attracting customers to play on their sites, to continue  be able to compete in the business tight competition, of course gambling managers online and conventional, are actually will offer many alternatives and conveniences for gamblers, so that conventional gambling sites or gambling places will still have people interested in playing and will increase the income of the site or casino, but if they apply fees for games it will clearly burden the gambler, Although in fact, without us realizing it, in gambling games on all sides the players lose and in fact I think that in every bet we have made so far, we have borne taxes, administration fees, commissions, and even Apart from that, doesn't every currency conversion that we do when gambling also cost money as well as the premium features that may be on the site, but we have not been aware of these small things because the casinos will not reveal their company secrets to public so far.

I’m not sure what the question is really. Seems like a misunderstanding. Fees are already built into bets you make with casinos. This is fairly obvious when doing sports betting because you can literally see with the odds what the house is taking since they win in any scenario. I’d be more worried if a casino claims they aren’t making anything.

You're right they are making lots of money from gamblers losses and it's not enough reason for them to add additional charges to it, except that they're being selfish and after their interest that's all.

I bet you this is an avenue for every gambler to limits their gambling habits especially the addicted one's, because if after loosing several games you're being charged sjso for that same game,what's your gain still gambling and where's the fun.
Like it won't be good if they should indulge in such taxes or charges tho it may help in minimizing and controlling the high rate of gambling that's how I see it again.

There should also be adjustment with provably fair and house edge. We all know that the house always wins and with this, they are charging per game then double that quote for they'd certainly will win no matter what happens. If they pass on additional fees to the customers, they'd for sure going to have some bad days as many will flee away from them and that will impact their metrics for sure and when they notice that, what will happen? They will come back to their older form so, they don't have to waste their resources for this kind of decision.

Maybe that is the reality that happen in many casinos but because we still actively playing gambling, we don't know about that charges of our account if we are inactive from playing gambling. Maybe we can try not too active in some casino and see what will happen to our account but usually, the inactivity will be count for some period such as 6 month or 1 year or so. Casino will charges the account by taking some amount from the account if they still have some money in their account.

The casino can do many things to their members account so we must responsible with our account. If we want to inactive in gambling, we don't have to save some money instead just withdraw all money and only left for small amount just in case if casino wants to takes fee from our account.

Interesting analogy! I will definitely dig into it, thank you. It sounds logical what would happen in the case of regulations for crypto being implemented.

Exactly, this was what I am about to say. Gambling site are draining people dry by the day, each time you gamble the chances of wining is 1/10. That is in every 10 tickets you play, you are likely to lose 9 and win 1 that is if you are even lucky. So Invariably the gambling site makes alot of money even without gambling fee. In other words exchange charges fee for transaction, but we don't lose entirely. Cryptocurrency market is a volatile market when we buy, we may make alot of profit on a regular basis expecially for those traders and those that buy Bitcoin and HODl. So if exchange charges fee there is nothing wrong because it's a nice business to invest compeard to gambling.

In my opinion, taking a commission for each game is excessive for a casino. And I think that casino owners understand this. They don’t need to do this. Why? After all, casinos already have an advantage that allows them to make good money on players. As for the exchanges, with which the author compares casinos, ideally exchanges should not play against their clients, this is considered a crime. And if so, then on the exchange some people play against other people. The exchange, in order to recoup expenses, has to charge a commission for each user transaction. However, this is not the only way the exchange earns. Exchanges earn, for example, on linepads. And exchanges also earn by selling the right to listing. Casinos have none of this, but they have an advantage.

There is a general rule of thumb and that is that when taxes, fees or other charges are raised, business goes down. That happened some time ago with poker regulations, when the market was compartmentalized and the houses raised the rake and lowered the rakeback. What happened is that traffic went down.

I encourage anyone who does not know it to look up the Laffer curve.

In this case the same thing would happen, if cryptocurrency casinos start charging you more in one way or another, either because a regulation forces them to do so or simply out of greed, people would play less. And that's all there is to it.

The others already pointed out the house edge, and a few casinos have other ways to charge extra for example through the withdrawal fees, they sometimes set a specific fee that's far from the recommended amount. I don't mind paying for those fees if it's the norm, but if it's unnecessary fees i'd rather avoid it and stick with the more competitive casinos.

On top of that, we could view deposit rollovers as paying for the deposit fees. Most casinos have a wagering requirement on deposits before they're unlocked for withdrawal.