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?
The amount of "float" that a casino will hold is going to vary between each one and the appetite that the owner has for crypto. At a certain point though, the owner is going to be super rich and the business will become relatively self contained - ongoing profits are extracted with enough funds remaining to sustain the business. For a crypto casino/bookmaker business they are pretty dedicated to the space and it almost becomes irrelevant what currency is involved, as long as they have close to enough in that currency to cash out all open bets. There is enough regular business going through that they ignore bitcoin price swings because they are likely cashing out a portion each day that they consider safe profits.