Will you still gamble? - page 8. | Bitcointalksearch.org

leonair

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Quote from: taufik123 on August 13, 2024, 09:55:23 AM

Quote from: swogerino on August 13, 2024, 08:55:54 AM

Exchanges although in the end are the same,they make us lose money in the long run I think they are considered financial institutions and in such institutions financial control is somewhat more intense and granular while a casino is considered a business,an enterprise and nothing more.I think that to be the main reason to such difference.

Exchanges makes you lose money in the long run?
What you do with your money on the exchange so that it will be lost, even though the fees are applied only for withdrawals and trading only,
if you do not use the service at all your money will only be there.
The price drop may be due to price fluctuations alone.

If op trade on spot then If he buys and holds tokens or coins then no service charge will be deducted from him but if he trades then the trading fee will be deducted and if he withdraws then the withdrawal fee will be deducted but if any crypto transfer to the same exchange through exchange UID If so, no fee is deducted in that case.
But if op is doing futures trading then if there is a position with an entry in any coin then Binance cut 0.0275% of funds every 8 hours other exchanges also deduct as per their TOS

Quote from: Pandu Geddon on August 13, 2024, 09:56:14 AM

Quote from: Agbe on August 12, 2024, 08:51:56 AM

And I think if you deposit to casinos, they used to deduct some percentage from the total deposit which I have experienced. Though it is not all the casinos do that.

which casino actually cuts your deposit? usually, they give bonuses for deposits and some make cuts, but usually a percentage of the total winnings we get.
actually, the way casinos and exchanges make almost the same profit. casinos profit from losing gamblers. and exchanges profit from every trading transaction.
casinos do not need to charge for every bet made by gamblers. from gamblers casinos have already made huge profits.

You will not find any casino sites that charge any fees for casino deposits. Yes they give bonus for deposit it is now a common offer in almost all casinos. But even with the deposit bonus, the entire fund is locked and wagering requirements are imposed, which is good for some and annoying for others. Casino sites make a lot of profit from the gamblers' losses and they deduct a fee for each bet and on the other hand they make a huge profit as a withdrawal fee because a huge amount of transactions happen on a casino site.

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Quote from: Agbe on August 12, 2024, 08:51:56 AM

And I think if you deposit to casinos, they used to deduct some percentage from the total deposit which I have experienced. Though it is not all the casinos do that.

which casino actually cuts your deposit? usually, they give bonuses for deposits and some make cuts, but usually a percentage of the total winnings we get.
actually, the way casinos and exchanges make almost the same profit. casinos profit from losing gamblers. and exchanges profit from every trading transaction.
casinos do not need to charge for every bet made by gamblers. from gamblers casinos have already made huge profits.

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Quote from: swogerino on August 13, 2024, 08:55:54 AM

Exchanges although in the end are the same,they make us lose money in the long run I think they are considered financial institutions and in such institutions financial control is somewhat more intense and granular while a casino is considered a business,an enterprise and nothing more.I think that to be the main reason to such difference.

Exchanges makes you lose money in the long run?
What you do with your money on the exchange so that it will be lost, even though the fees are applied only for withdrawals and trading only,
if you do not use the service at all your money will only be there.
The price drop may be due to price fluctuations alone.

Quote from: swogerino on August 13, 2024, 08:55:54 AM

While to answer your questions will I continue to gamble I will as where I play I am already verified KYC level 4 which is the maximum level for KYC and any withdrawal is instant.The only problem is because of heavy lost amounts I have forgotten what withdraw is.

You seem to have become quite pro at gambling with KYC level 4, but whether you enjoy every game you play or will it just return the losses incurred.

Quote from: EluguHcman on August 13, 2024, 09:30:08 AM

The charge fees of the exchange are due course in the fact that they offers individuals services on executing transactions.
The need of the services charges generates funds for maintenance of the exchange platforms for the safety and comfortabilities of users. So then, it is worth that the exchange developers are being paid for the rendered services.
-snip-

Yes, you are right about that, those are two different things and depend on where one chooses to stay.
Exchanges and casinos are different platforms, and also have different risks depending on how you do in both places.

retreat

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They don't seem to need to charge their users fees since they have higher profits, for example, you have a business with thousands of dollars in profit a day, do you want to charge your customers for parking? Likewise with casinos, they don't charge fees every time a user plays because they feel it is not needed. And also they don't charge fees to attract players to play on their platform, just imagine when you want to play, but every time you want to play your platform charges you fees, at first it might not be a big deal, but in the long run you will start to think and prefer to play on other platforms. Casinos consider things like this to make players more comfortable on their platform.

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Quote from: Odusko on August 12, 2024, 08:20:13 AM

-snip-

In conclusion I will still gamble even though in the future there will be new innovations from the gambling system created and with the new system it could make me have to pay more fees than what I have to pay now when withdrawing.
I consider it only a small part of the amount of winnings that I will withdraw. I also think that they also deserve to benefit from the winnings that I get. So it is fair in my opinion.

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Quote from: Die_empty on August 13, 2024, 12:07:05 AM

Quote from: Odusko on August 12, 2024, 08:20:13 AM

The motive of this thread is for us to discuss what will be you stands if online casinos charges you fees on each game you play on them, same way excahges charges you on each trading position you open, and why should excahges charges fees and casinos not charging such fees, First of all the First objective of every business is to generate revenues, so at first I wasn't curious about this, but recently I began to wonder why the difference between excahges and casinos when both have similar features which are licensing and KYC.
If exchanges take trading fee's their call it value added taxes which some part get remitted to the government.
But online cryptocurrency casino's act in the same vain because both trading and Gambling are the same it all aim at either profits or lose, but while gambling plartforms let go of the fees, exchange charges us on each regardless wether we make profits or lose in the trading position.

Gambling platforms and exchanges don't offer the same service. In gambling, you are betting to win more from the house. While exchanges assist you in converting your funds to different currencies and facilitate trading. Casinos don't take charges because they will benefit from your engagement if you lose. And they make profits from the losses gamblers incur. Exchanges don't make any profit from the money you want to convert or trade, therefore to keep the business running, they have to charge transaction fees. Licencing and KYC are not a valid reason why casinos should operate just like exchanges. Both of these requirements are designed to fulfil regulatory laws and protect clients as well as the organisation.

The certainty to which the casino have that you will generate them profits is so high because in whatever or whichever way you decide to play in any casino you will just find out that the casino always have the greater odds so why then will they charge you but although there are some local casino over in my place that I know of that do extra little transaction fee for maybe any withdrawal to your account outside the casino but on a general not it's the exchanges that charge to atleast grow the business.

EluguHcman

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The charge fees of the exchange are due course in the fact that they offers individuals services on executing transactions.
The need of the services charges generates funds for maintenance of the exchange platforms for the safety and comfortabilities of users. So then, it is worth that the exchange developers are being paid for the rendered services.

Talking about the casino charging gamblers at whenever they stakes on games will be a cheat and extortion from the gamblers because the condition of Luckiness to win in the gambling is already lamenting situation so, you can not expect the crypto casino sites to charge gamblers knowing that the gambling activities are emotional games by which loosing is almost 99% and even when we can control our lost games, it does have some sort of effects within us.

It is just unimaginable to see gamblers being charged when we already feels devastated over the high tension chances of loosing our bets.

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Casinos are not in the same line with exchanges because casinos are made for entertainment for that reason no one will go and entertain himself in a place where he will be charged for an additional fee of using their platform or place for fun.

Casinos already know that if you are gambling in their site, they have upper hand of making profit from you and what will happen if you lose all you money, how will they charge you. The only charge that can be paid is when you win and want to withdraw your funds. Exchanges are final institutions like banks and that is why you will be charged for whatever you do with your money in their custody.

aioc

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They don't have the same model as the gambler, who plays against the house. Since the house has an edge against the gambler, it will double-charge the player, which is unfair. Therefore, they will look for casinos that don't offer this.
If one casino decides to add this, it will lose many players even if it has a good reputation in the industry. The current model is already good and accepted by the industry, so there's nothing to recreate or introduce, but if that's the industry standard, then I will limit my playing because I feel that I am overcharged and cheated by casinos.

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Quote from: Odusko on August 12, 2024, 08:20:13 AM

The motive of this thread is for us to discuss what will be you stands if online casinos charges you fees on each game you play on them, same way excahges charges you on each trading position you open, and why should excahges charges fees and casinos not charging such fees, First of all the First objective of every business is to generate revenues, so at first I wasn't curious about this, but recently I began to wonder why the difference between excahges and casinos when both have similar features which are licensing and KYC.
If exchanges take trading fee's their call it value added taxes which some part get remitted to the government.
But online cryptocurrency casino's act in the same vain because both trading and Gambling are the same it all aim at either profits or lose, but while gambling plartforms let go of the fees, exchange charges us on each regardless wether we make profits or lose in the trading position.

Exchanges although in the end are the same,they make us lose money in the long run I think they are considered financial institutions and in such institutions financial control is somewhat more intense and granular while a casino is considered a business,an enterprise and nothing more.I think that to be the main reason to such difference.

While to answer your questions will I continue to gamble I will as where I play I am already verified KYC level 4 which is the maximum level for KYC and any withdrawal is instant.The only problem is because of heavy lost amounts I have forgotten what withdraw is.

SmartGold01

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There is always a reason why they are not charging in casino because if they do then we can say the extortion would be more even though we have exchange collecting fees from traders at least there's always restrictions and limit on amount to trade, but gambling does not have this type of restrictions instead you would gamble with any amount that you can risk. However, I can't move the motion for gambling site to start take fees from gambler and yet people still lose their bets.

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Quote from: Odusko on August 12, 2024, 08:20:13 AM

The motive of this thread is for us to discuss what will be you stands if online casinos charges you fees on each game you play on them, same way excahges charges you on each trading position you open, and why should excahges charges fees and casinos not charging such fees, First of all the First objective of every business is to generate revenues, so at first I wasn't curious about this, but recently I began to wonder why the difference between excahges and casinos when both have similar features which are licensing and KYC.
If exchanges take trading fee's their call it value added taxes which some part get remitted to the government.
But online cryptocurrency casino's act in the same vain because both trading and Gambling are the same it all aim at either profits or lose, but while gambling plartforms let go of the fees, exchange charges us on each regardless wether we make profits or lose in the trading position.

The chances of this happening is quite low but if it does I don't think I will continue gambling, the house edge is enough to keep their business running..my reason for saying I won't continue gambling is because I consider it to be a means of extortion, they are constantly in profit everyday from peoples losses adding exchange charges would be somewhat ridiculous..But everything is changing, this is something that might actually happen in the nearest future

GreatArkansas

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Quote from: Odusko on August 12, 2024, 08:20:13 AM

The motive of this thread is for us to discuss what will be you stands if online casinos charges you fees on each game you play on them, same way excahges charges you on each trading position you open, and why should excahges charges fees and casinos not charging such fees,
(....)

The answer here if YES if they satisfied my needs like my above my expectations.
For example here in our country, there are some places where before you can enter an establishment to do gambling, you need to pay, and this gambling activity is the cock fighting.
Some, on your payments, there is a beer included, a chair, and a well-ventilated room, the fights are all quality cocks, or every fight is well organized, and all the entries in the fights are famous or quality farm owners.

In short, if the extra pay will make me comfortable and entertained more, I'll still gamble.

Hirose UK

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Yes, both can be said to be businesses but have different ways of working, you will never be able to equate them because in terms of income it will also differ between exchanges in trading or the gambling industry.
In the trading exchange, all profits are only obtained from taxes imposed by everyone who trades there because the main advantage is only that and kind of additional money from the owner or manager of crypto tokens who want to register or enter the crypto they create in the exchange.
For gambling itself, casino owners or gambling sites benefit from income from cooperation with various game providers or various bets that the gambler losses will go directly into the casino bankroll itself.
So it can be concluded that gambling if it adds some kind of fee or tax to gamblers can cause protests or series of bad points of view that cause some people to lose interest in gambling.
This is only limited to my knowledge and if there is something wrong then it can be corrected.

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Quote from: Odusko on August 12, 2024, 08:20:13 AM

The motive of this thread is for us to discuss what will be you stands if online casinos charges you fees on each game you play on them, same way excahges charges you on each trading position you open, and why should excahges charges fees and casinos not charging such fees, First of all the First objective of every business is to generate revenues, so at first I wasn't curious about this, but recently I began to wonder why the difference between excahges and casinos when both have similar features which are licensing and KYC.
If exchanges take trading fee's their call it value added taxes which some part get remitted to the government.
But online cryptocurrency casino's act in the same vain because both trading and Gambling are the same it all aim at either profits or lose, but while gambling plartforms let go of the fees, exchange charges us on each regardless wether we make profits or lose in the trading position.

Casinos are already generating enough revenues, this is one of the most lucrative business in the world today, what are you saying? You can't compare gambling with trading, don't forget that trading is you trying to predict where a stock or asset price is heading next, and this comes with the use of trading tools, gambling don't have any of these.

I'm sorry to say but just because they both aim at profit and lose doesn't make them the same, is there anything in this world that does not aims at profit and losses ( Like businesses) for example, they are far from gambling, but still comes with risks, anything that can make human money have chances of losses too.

Die_empty

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Quote from: Odusko on August 12, 2024, 08:20:13 AM

The motive of this thread is for us to discuss what will be you stands if online casinos charges you fees on each game you play on them, same way excahges charges you on each trading position you open, and why should excahges charges fees and casinos not charging such fees, First of all the First objective of every business is to generate revenues, so at first I wasn't curious about this, but recently I began to wonder why the difference between excahges and casinos when both have similar features which are licensing and KYC.
If exchanges take trading fee's their call it value added taxes which some part get remitted to the government.
But online cryptocurrency casino's act in the same vain because both trading and Gambling are the same it all aim at either profits or lose, but while gambling plartforms let go of the fees, exchange charges us on each regardless wether we make profits or lose in the trading position.

Gambling platforms and exchanges don't offer the same service. In gambling, you are betting to win more from the house. While exchanges assist you in converting your funds to different currencies and facilitate trading. Casinos don't take charges because they will benefit from your engagement if you lose. And they make profits from the losses gamblers incur. Exchanges don't make any profit from the money you want to convert or trade, therefore to keep the business running, they have to charge transaction fees. Licencing and KYC are not a valid reason why casinos should operate just like exchanges. Both of these requirements are designed to fulfil regulatory laws and protect clients as well as the organisation.

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Quote from: darkangel11 on August 12, 2024, 01:31:55 PM

Quote from: Odusko on August 12, 2024, 08:20:13 AM

The motive of this thread is for us to discuss what will be you stands if online casinos charges you fees on each game you play on them,

But they do that. It's called house edge. It's a casino fee that you have to pay in every game.
Do you know that little game called coin pusher? It illustrates this in a very simple way. Every time you put money in, the machine has a slide that catches a few coins from the lot and puts it in a separate container that you can't see. It's made that way so players don't feel discouraged after seeing how much money was captured by the machine.

Exactly, there's a house edge, like there is a rake in poker. House always earns, and most of the games are -EV, but we still gamble. You gave a nice example with the coin pusher game, and it's the same with slots. We don't see how much money some slot earned, and that slot will probably give someone some nice prize eventually, but most of the players will just lose their money.

Most people like to gamble and hope that they will be lucky enough to win something nice. That happens sometimes, it's the nice side of gambling, but losing is also part of the game, every game. I think that trading is also a game, with different rules, but still it's a game where people win & lose money all the time, that's why it's also gambling.

tread93

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Quote from: Odusko on August 12, 2024, 08:20:13 AM

The motive of this thread is for us to discuss what will be you stands if online casinos charges you fees on each game you play on them, same way excahges charges you on each trading position you open, and why should excahges charges fees and casinos not charging such fees, First of all the First objective of every business is to generate revenues, so at first I wasn't curious about this, but recently I began to wonder why the difference between excahges and casinos when both have similar features which are licensing and KYC.
If exchanges take trading fee's their call it value added taxes which some part get remitted to the government.
But online cryptocurrency casino's act in the same vain because both trading and Gambling are the same it all aim at either profits or lose, but while gambling plartforms let go of the fees, exchange charges us on each regardless wether we make profits or lose in the trading position.

One is just an exchange of crypto for entertainment while the other is the exchange of crypto with other cryptos. KYC and AML are probably much more scrutinized on actual exchanges because that is usually a requirement, also a requirement by many casinos but some are probably more lenient on what exact KYC and AML policies are.

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Quote from: Odusko on August 12, 2024, 08:20:13 AM

The motive of this thread is for us to discuss what will be you stands if online casinos charges you fees on each game you play on them,

But they do that. It's called house edge. It's a casino fee that you have to pay in every game.
Do you know that little game called coin pusher? It illustrates this in a very simple way. Every time you put money in, the machine has a slide that catches a few coins from the lot and puts it in a separate container that you can't see. It's made that way so players don't feel discouraged after seeing how much money was captured by the machine.

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Quote from: Crypto Library on August 12, 2024, 12:42:28 PM

Quote from: Odusko on August 12, 2024, 08:20:13 AM

The motive of this thread is for us to discuss what will be you stands if online casinos charges you fees on each game you play on them, same way excahges charges you on each trading position you open, and why should excahges charges fees and casinos not charging such fees, First of all the First objective of every business is to generate revenues, so at first I wasn't curious about this, but recently I began to wonder why the difference between excahges and casinos when both have similar features which are licensing and KYC.
If exchanges take trading fee's their call it value added taxes which some part get remitted to the government.
But online cryptocurrency casino's act in the same vain because both trading and Gambling are the same it all aim at either profits or lose, but while gambling plartforms let go of the fees, exchange charges us on each regardless wether we make profits or lose in the trading position.

I don't know what types of exchange you are talking about but we can say the exchanges are the same as gambling sites I think you saying this because of the futures trade if I am not wrong. But future trade is only on the centralized exchanger and rest don't have the future trade and also they earn from the trading fees in both cases so I don't see any similarities between them. We have to remind that casinos generate revenue from the loss of players by house edge not from the withdrawal or the trading or exchanging fees

Its not really that hard to understand. Wait? What? Are there still people who arent that aware on how gambling site works and how to make profits in the long run? If they dont then
this is the best time for you to be able to make yourself having at least the idea on how an house edge works on which just like on what everyone is saying on this that as a gambler you would really be still losing a huge chunk with your winning considering that house edge is always present. We do know that these are businesses so it would really be just that normal that they will really be always the upperhand. Good thing that they are really that fair at least but of course you should really be sticking into those known sites or platforms rather than involving yourself into those non-heard
or not really that popular.

Topic: Will you still gamble? - page 8. (Read 1745 times)