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.
What does this have to do with it? All deposits and prizes are valued in dollar equivalents
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.
If we proceed from your "
theory", then casinos earn less during growth of bitcoin, is that right? But if we compare these conditional "
profits" during recessions and "
losses" during growth, then on average, in the long term, all these excess profits and excess losses will be leveled out.
Or is it the other way around? Since players have less money available, do they bet less, and casinos also make less profit?
I think it's different here. If players have little money, they look for ways to increase their money (debts, loans,
or even theft and robbery).
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?
I assume that the casino is in profit if it doesn't close. No casino will work at a loss.
Considering that the casino has a reserve of N-th amount of bitcoin, then with the growth of the price of bitcoin, the casino "
gives" less to gamblers as a win, which means that more money in the equivalent of bitcoin remains on the casino's balance. Let's say that at a price of $50k, the casino gives 0.5
BTC as a prize, then at a price of bitcoin is $100k - 0.25
BTC (half as much). In other words, due to the growth of the price of bitcoin, the casino, as well as any holder, can accumulate more bitcoins in its reserves.