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Bitcoin Bitcoin Gambling - What's your take on it?

Discussion in 'Bitcoin Forum' started by BoXXoB, Feb 21, 2016.

  1. BoXXoB

    BoXXoB New Member

    Joined:
    Feb 21, 2016
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    Location:
    Finland
    Bitcoin gambling has been taking over quite a few sites and has provided a way for new sites to pop up literally out of nowhere. What do you feel about bitcoin in general and do you think it's good for gambling industry or not?


    For those unfamiliar with bitcoin I will list a few things about it:

    • Bitcoin is a virtual currency that allows low-fee transactions from and to anywhere and it's not tied to banks
    • The value of bitcoins is defined by the markets and therefore fluctuates
    • Allows transactions without the need of providing personal information
    • Non-reversible transactions
    • Easy to obtain via exchanges (a lot easier than a while back)
    I have personally been into bitcoins for a bit over a year now and I absolutely love it. In a normal situation when you register on an online casino you provide your name, address, ID, payment information and much more. With bitcoin you can pretty much forget all of that. The way bitcoin works allows gambling sites to allow new players to register just by providing an username and password. You can literally play within minutes! What's even better is that usually cashouts are instant, in most cases few hours at most.

    Currently there are quite a few casinos that accept bitcoins and provide large variety of games you would see at a regular online casino such as slots, table games, roulette etc. The more unknown game is "dice", usually with just a 1% house edge is a perfect and simple game to play. Currently there's a lack of good poker rooms for bitcoin which is partly the reason I want to get people know about bitcoin and perhaps get new people on board.

    A few bitcoin-only sites:
    • BetKing.io (a dice site)
    • Luckyb.it (unique plinko game)
    • bitstarz.com
    • BitcoinVideoCasino.com
    • ...much more can be found at https://en.bitcoin.it/wiki/Category:Gambling

    I am open to any questions about bitcoin so please, feel free to post.
     
    Last edited by a moderator: Feb 22, 2016
  2. Sandra453

    Sandra453 Member

    Joined:
    Mar 18, 2016
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    3
    Occupation:
    Sales Manager
    Location:
    Australia
    I have a controversial feelings about usage of Bitcoins in gambling industry. On one hand it grants privacy for the customers and it is very easy-to-deposit/withdraw method so it is really convenient. On the other hand casinos operating with bitcoins do not ask KYC documents (Know your customer) and anyone, including underaged and addictive gamblers, can gamble in the online casino. So, as a whole I'm for Bitcoins, but the system itself must be improved in some way.
     
  3. redietz

    redietz Active Member

    Joined:
    May 2, 2016
    Likes:
    34
    Location:
    Tennessee
    I notice that several sports sites are offering hefty bonuses if you use bitcoins. That's enough to at least get me to stick my toe in the water.

    Has anyone any bitcoin experiences, good or bad, to share?
     
  4. Mickey Crimm

    Mickey Crimm Well-Known Member

    Joined:
    May 15, 2015
    Likes:
    179
    I have two online accounts. One at Bovada and one at Ignition. I sports bet Bovada and play poker at Ignition. Bovada sold their poker room to Ignition and that's the reason I now have two accounts. At least Bovada says it sold it's poker room to Ignition. I personally think they just created another online casino and shifted their poker to it. And I think the reason they did that was to separate the sports bettors from poker. I think a lot of people signed up to Bovada to bet sports then found themselves dumping a lot of money to the better players in the poker games. I think Bovada seen this and made moves to separate the sports bettors from the poker players so they will dump all their money betting sports.

    That said, the one use I can see for using bitcoin to deposit on Bovada is there is no fee. I've made my deposits using a Walmart Debit Card and there is a 4.9% fee for doing so. No so with the bitcoin.

    Bovada currently has an offer where a $500 deposit gets a $500 bonus. They advertise it as 5X rollover but it is actually 10X because you have to rollover the bonus too. And it's my understanding through emails they have sent me that it's a one time offer if you use a credit or debit card, but the offer is good multiple times if you use bitcoin. However, you need to be careful and read the fine print. They can revoke your bonus if they consider you to be a professional sports bettor.
     
  5. Sam Min

    Sam Min New Member

    Joined:
    Oct 9, 2016
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    Location:
    California
    Bitcoin gambling is much better than a local casino. A player goes one-on-one for blackjack for btc gambling. If you're at a local casino, you have skids that join your table and the best part, they don't know how to play by the book.
     
  6. Vendeoni

    Vendeoni New Member

    Joined:
    Apr 7, 2017
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    1
    Location:
    Toronto
    Bitcoin is a great system but you need to choose wisely before getting into it. When you mined some or get for free (gift etc) it`s a great way to make some more not using power resources(it`s really hard these days to mine smth - you need a good system to do that and keep hardware updated, not to mention checking your incomes and expenses).

    If you want to buy it with real money, you need to have a good reason to do that. As Mickey said, if some casinos offer big-deal bonuses, spend small ammount (like 100 or 200$) to check if you want to deal with that. Keep in mind, some technical issues (wallets, for example) need to be learned
     
  7. tatabalo

    tatabalo New Member

    Joined:
    Mar 19, 2017
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    2
    Location:
    lala
    i agree with that.
    sportbook must seperated with poker.
    thx your sharing.
    walmart bitcoin debit card is good?
     
  8. tatabalo

    tatabalo New Member

    Joined:
    Mar 19, 2017
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    Location:
    lala
    The wallet is very important if u do frequent gambling in bitcoin.
    The KYC thing is sucks, wallet like coinbase can't use for gambling.

    now in bitcoin the mainly issue is KYC. The good is we can easily use bitcoin and more choice, but the bad is regulated.
     
  9. scarell

    scarell New Member

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    Sep 20, 2017
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    Location:
    Gainesville
    I agree...coinbase wallet can't be used for gamblings...
     
  10. WinJackpot

    WinJackpot New Member

    Joined:
    Oct 25, 2017
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    0
    Location:
    Hong Kong
    Bitcoin gambling is better than gambling in casino or other gambling website cuz you don't just get a slim chance of winning the price but the price of bitcoin also keeps rising. I have been gambling on online bitcoin lottery website but still got no chance of winning it... Anyway it's free so I will keep on gambling on bitcoin.
     

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