Well, we won’t know the exact statistics since casinos won’t fully disclose them to the public, but for sure, even if the market is down, they’re still making a profit. Also, there are gamblers like me who play using crypto but prefer to see the balance in fiat currency. So I base my bets on our currency, not the amount of crypto. And I’m sure I’m not the only one doing that. It means that when the market is down, it’s like I’m increasing my bet amount in crypto just to make it up, for example, $20. Just like that.
Makes sense and what you are doing is actually a clever approach to exposure to crypto volatility and still enjoy gambling. When you think in fiat terms, you are maintaining your risk, whether Bitcoin is up or down. It is like having a stable base to make an investment in--you have a valuable stake in reality, despite the underlying piece of paper being volatile. Naturally, that also translates to you essentially purchasing more crypto when the market is low, which can multiply profits and losses alike, so a sense of discipline and limits are essential. All in all, it is a sensible strategy to consider when combining crypto with real-life value bets.