When Bitcoin's price drops, many people end up losing money and become discouraged by the market. But online casinos continue to operate normally and receive bets every day.
This makes me wonder: do casinos actually earn even more during these downturns? After all, some players may gamble to try to "recover" what they lost.
Or is it the other way around? Since players have less money available, do they bet less, and casinos also make less profit?
I believe when bitcoin’s price drops, so does the enthusiasm to spend. When bitcoin is on the rise, people are taking profit and they need to take that money elsewhere and they are most likely to spend that in a casino. So I believe when bitcoin’s price drops, casinos may experience the same thing.