Re: Do casinos make more money when the price of Bitcoin drops?
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'd like to hear your opinion: when Bitcoin's price drops, who comes out on top: the casinos or the players who manage to control themselves?
It would affect them casinos if Bitcoin drops in price and especially those that casinos that uses Bitcoin to bet too but casinos also have different options to keep their customers, a gambler that has a Bitcoin investment will always gamble regardless if the price of Bitcoin drops or not. There may not be a report that shows us whether or not casinos make money or not when Bitcoin drops in price but with the little understand I have of gambling I would say that casinos make money if Bitcoin drops in price and they also make money when it pumps up and I'm saying that because I know that gambling entirely is an individual behavior and it doesn't depend on any crypto currency. 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'd like to hear your opinion: when Bitcoin's price drops, who comes out on top: the casinos or the players who manage to control themselves?