Even though crypto exists in the digital plane, there is still a limit on how much crypto we can obtain from the computer thickets and mines. Plus, pay attention to how fast mining processes are. It is logical to suppose that one day there will be no more BTC to mine and OHM to stake.
Crypto gambling, in turn, is a popular alternative to traditional crypto-gaining methods. Moreover, there are great gaming hubs like Joocasino with games to meet all expectations, requirements, and tastes. Yet, can such a risky and venturous decision become your prioritized income source?
That Is Entirely Possible Because…
Argument 1: Crypto gambling is transparent
While conventional physical casinos are notorious for cheating on players, gambling websites use RNG or blockchain to ensure gambling transparency. Top casinos also have licenses from third parties (Curacao, UKGC, and others) that regularly check their activities, so the casinos have to play fair. The Provably Fair algorithm is a great way to check if the casino manipulates game outcomes.
As for transparency, it is achieved due to open-source code and immutable smart contracts that let everyone track down all casino operations, deposits, and withdrawals.
Argument 2: You can use both fiat and crypto money
Depositing and withdrawing only in cryptocurrency is not mandatory, as you can also use regular cash. The most popular gambling methods like bank cards (Visa/Mastercard), e-wallets (Skrill, Neteller, ecoPayz), and others are available in many casinos. You can also use wire transfer, but this method is the slowest.
As for cryptocurrencies, Bitcoin, Ethereum, Litecoin, and Dogecoin are mostly used on gambling websites. All you need is to create a crypto wallet, buy some coins, and find a casino that would accept this currency. The thing is that crypto transactions are the fastest ones (it takes up to several minutes), they are cheap, and more importantly — they are secure.
Argument 3: You can receive your money fast
The best thing about gambling for money (fiat or crypto) is that you can quickly receive them. The waiting time for BTC withdrawals is up to 24 hours, while other currencies take several minutes. The thing is that each casino has its payout policy, but it doesn’t usually take longer than a day to get the money on your account.
Thus, gambling can become a great alternative to mining and other popular BTC-obtaining methods, as you can quickly receive and cash out your earnings. However…
Never Neglect the Risks
Risk 1: Irrationality and responsibility lack
The main thing that differentiates gambling from other money-making methods is the element of chance. No matter what you do, the game’s outcome is always uncertain, and you can either win or lose everything within seconds. That’s why it’s essential never to gamble with the money you can’t afford to lose.
Risk 2: The house always has an advantage
It is a well-known fact that in any casino game, the odds are stacked in the establishment’s favor. Thus, no matter how good you are or how lucky today is, the chances of losing everything are pretty high. So, if you plan to gamble for money, remember that you can’t always win.
Risk 3: Addictive behavior
Last but not least, gambling can become addictive quickly, especially if you start winning frequently. The thing is that people tend to get carried away by emotions and make rash decisions, which often leads to devastating outcomes. So, if you feel you can’t control your gambling behavior, staying away from games and casinos altogether would be best.
Crypto gambling is a practical (and practiced) way to make money, but you should NEVER forget the risks involved. Thus, tread carefully if you use gambling as your primary income source. Also, please ensure you play responsibly and follow all rules to protect yourself from potential detriments.