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Bitcoin is Transforming Casino Industry

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  • Bitcoin is Transforming Casino Industry

    Since 2008, the crypto-currency Bitcoin has grown a lot and in many departments like the Casino Industry.
    There is a major rise in the Bitcoin Casino Industry and BTC's usages increased lately.

    Some key points I read today in an article, which I would like to share are:
    1.Due to Less Regulation, BTC is easy for Deposits and Withdrawals
    2. Bigger and well-known Casinos are heading into the Bitcoin Bandwagon
    3. More implementation likely and No Signs of Slowing Down
    4. Bitcoin Casinos will continue to grow and prosper in the online gambling space.

    So, are you using any Bitcoin Casino site?

  • #2
    I don’t like gambling or casino type stuff, but I think this shouldn’t be surprising at all. I don’t know if you guys remember Liberty Reserve, it was similar, but that was obviously payment processor but that too was ideal for gambling / Casino type sites for obvious reason that you wrote above with Bitcoin, but look where it is now. I think the risk is too much with Bitcoin but then there is no difference in Casino business either.

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    • #3
      The biggest key point is not much issue over regulation or verification, so it’s very simple to use payment processors where it’s required and cost a lot of issues. There is no question that Bitcoin also thrives on these things and is major source of their growth.

      Casino Industry is massive and undoubtedly, it’s something that helps all Crypto Currencies not just Bitcoin, so it will grow even further in years to come by.

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      • #4
        Originally posted by aayush-admin View Post
        Since 2008, the crypto-currency Bitcoin has grown a lot and in many departments like the Casino Industry.
        There is a major rise in the Bitcoin Casino Industry and BTC's usages increased lately.

        Some key points I read today in an article, which I would like to share are:
        1.Due to Less Regulation, BTC is easy for Deposits and Withdrawals
        2. Bigger and well-known Casinos are heading into the Bitcoin Bandwagon
        3. More implementation likely and No Signs of Slowing Down
        4. Bitcoin Casinos will continue to grow and prosper in the online gambling space.

        So, are you using any Bitcoin Casino site?
        Yeah, that is true in recent years; it has really taken big liking to Bitcoin and even stuff like HYIP has made it instant hit with them. This is why these things are so popular. They can be used by anyone without having to reveal anything and that’s why the popularity is just going to grow, but we all have that fear of sudden pull. Other than that, I don’t think there is anything stopping it at all!

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        • #5
          This is great sign for Bitcoin and all people having it, but this thread says it all. Bitcoin might be great, but there is no denying that it’s used for several illegal and unmentionable activities which make it pretty dangerous.

          Personally, I never wish it stops or face any issues, but it’s really scary that with such option available, it could really have huge impact on things in the world, but then who I am to worry over this.

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          • #6
            Alternative payments are always good for such industries like Casinos, Betting, Gambling, HYIPS, etc which might bring in new customers who deal only in one payment method! So, those who have good amount of BTC with them and can transact often, then it is very good for them, as they need not exchange for alternatives!

            Only thing is that the valuations should remain high and there should be no crash or something which would lower the holding value of large investors which might keep away potential new users!

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            • #7
              I agree with Jamal. Bitcoin usage itself might be risky as it still operates outside the purview of the monetary & fiscal policies of the governments. But that is different issue and quite debatable. WRT casino’s using Bitcoin it should be good enough if gamblers use them more often as you don’t have to carry suitcases full of cashes to play or after winning to carry! LOL. Nevertheless a good option but I don’t know much about gambling business.

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              • #8
                Stuff like Casino is lovers of structures like Bitcoin where there is not much investigation and no one to control the ship, as they can run it in their own way. If anyone remembers then Liberty Reserve and Egopay were two of the favorite options when it comes to Casino industry and look they closed out forced way!

                However, it’s unlikely to be the case with Bitcoin which is what makes it hot favorite for this industry!

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                • #9
                  Plamen it is painful to read that Liberty Reserve and Ego Pay were shut down by Uncle Sam. Even I lost around $200-$300 as I was playing Hyips those days. These kinds of payments were always at risk of being shut down! Back to topic, any new form of payment must be appealing to customers and service provider, casino industry in this case! Gambling is legal in some part of the world but in others it is banned, so you need to be aware of local laws too!

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                  • #10
                    Agree with Sergey in knowing about the locals laws of your country. If your country/state does not allows casinos or any other gambling/betting, then obviously you can’t participate in that, whatever be the payment method used, be it even Bitcoin.

                    To play casino via Bitcoin you need to have fully funded Bitcoin wallet too! There are lots of illegal casinos also out there, so you need to be careful on spending your Bitcoin! You have to stick with only the legal casinos.

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                    • #11
                      Casinos are a place to gamble which can be either online or offline. Now it is mostly online as one can play it from just anywhere without any physical visit! Using Bitcoin as a mode of payment would also help in popularizing it and people would become more aware of it. They can then look at it as a form of payment or even investments later! Changes are always good and those who fail to adopt would be left out and others would go ahead of them!

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                      • #12
                        I have also not gambled online where we can pay via Bitcoin. I don’t know whether one can pay via Bitcoin in physical casinos! Bitcoin is one of the modes of payment.

                        Casinos are also a place where people usually play with their black or illegal money and they have nothing to lose, per se! So in effect, Bitcoin might be aiding such criminals which would put black mark on Bitcoin! Gambling is also a place to take high risks to earn huge in short time or lose huge!

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                        • #13
                          Well, Bitcoin is a payment system and as such can be used anywhere where it is required. Bitcoin also being anonymous can help those who don’t want to reveal their identity or source of income. So all the illegal money hoarders can use Bitcoin to gamble in casino and try to get lucky. This is going to be win-win for all like to the casino owners and to the users apart from Bitcoin itself! Bitcoin truly to the rescue of high profile gambling den called casino.

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                          • #14
                            Bitcoin has gained big space in world of gambling and casino and is likely to lead ahead on same road. In fact, if there is a proper analysis then we will know over 80% of the money involved is from such ways.

                            So, it is fair to say that one of the major reasons for Bitcoin growth is the casino industry and is likely to remain that way in future as well. But, it might change if every country regulates it.

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                            • #15
                              Yeah, it’s obvious that these options are good for stuff like Casino since there is no verification or anything as such is required, so that’s why we see such Crypto Currencies so popular in such places. I feel this scenario is something that is going to continue ahead in time to come. We will definitely watch more and more such sites adding it but it can change if the verification becomes harder.

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