I'm assuming everyone here already knows how volatile crypto markets are and how much of a risk it is to trade there. I'm not going to delve deep on that topic because I consider it a given already. However I'm getting a sense that in spite of the great demand to make risky trades on crypto, casinos tend to ignore it too much.
I remember a few years ago binary options on BTC/USD were quite popular.
These days billions of USD are put towards leveraged futures, and now with markets opening futures and options on Bitcoin ETFs, institutional investors will also have access to very risky positions on BTC right from their broker.
However, these markets have several restrictions. On most brokers you can't get margined leverage above 5x and/or many territories don't even allow for brokers to offer options to the general public. Let alone the fact that people from many countries aren't even allowed to sign up to crypto exchanges because of arbitrary reasons like for example Israel pressuring Binance to close the accounts of people just for being Arab.
Anyway, I think more casinos should follow the path of what Rollbit has been doing with its virtual futures and offer gambling services based on the BTC price. There could be several advantages. No KYC, no regulatory restrictions as imposed on traditional markers, unlimited leverage... You name it.
Maybe even there could be some algorithmic memecoin releases. Maybe you're one of the lucky ones that get 10x or one of the unlucky ones that get rugged.
Would you gamble on casino games that are based around the real fluctuations of BTC's price?
Many years back there were casinos that did that but I think most of them disappeared already, however the problem with what you are suggesting is that even if casinos tried to sell this as a gambling game, the reality is that you will be trading the price of bitcoin and their assets, and once regulatory bodies set their sights on those casinos, they will be accused of violating the law as they do not have the license to offer those services, so if Rollbit is doing this, I would not be surprised if we heard they are having problems in a few months down the line.