Re: Do casinos make more money when the price of Bitcoin drops?
I don't think it matters because AFAIK most casinos value the deposit in fiat instead of crypto denomination.
Let's say you send 0.0005 Bitcoin which worth $54 (BTC $109,000) right now, after a month Bitcoin price rose to $209,000, your money in the next month would still $54 instead of 0.0005 BTC/$108.
So if gamblers gamble in this kind casino, regardless the price rise or drop, it should be same.
Overly simplistic take, do some research first. That is not how the world works. Your conclusion is that people spend the same amount of money when they have less money and when they have more money. It sounds wrong to even write it out. Let's say you send 0.0005 Bitcoin which worth $54 (BTC $109,000) right now, after a month Bitcoin price rose to $209,000, your money in the next month would still $54 instead of 0.0005 BTC/$108.
So if gamblers gamble in this kind casino, regardless the price rise or drop, it should be same.
There are some valuable aspects here.
1. But those who are constantly gambling are never gambling based on the value of the market.
I doubt that is true. For addicts perhaps, I can believe that it is. For the average gambler, who tries to control themselves or stick to a budget this is definitely not true.1. But those who are constantly gambling are never gambling based on the value of the market.
2. If there is a gamble that needs to recover money, then he can also make money by gambling. But it is completely based on its own. Because before gambling, you always have to remember, rather than win, it is not possible to lose.
Recover money through gambling? 