When it comes to gambling, there are a lot of things that people need to consider. It’s important that you are a sensible, safe, and responsible gambler, and that you don’t let addiction get the best of you. The problem with gambling today is that it’s so easy to do, and so accessible to pretty much anyone. This leads to a lot of issues down the line, and people gambling money they don’t have.
In recent years many online casinos and bookies have faced criticism for promoting gambling in a big way. This has led to them introducing measures to try to be more ethical. The ethical gaming principals can be found at most good online casinos. They allow players to set their own restrictions, and give the casino authority to temporarily block an account that looks as though it’s spending too much money.
In more recent times there has been a surge in popularity with Bitcoin casino gambling as well, and this has raised a lot of questions. Some people feel wonder what Bitcoin will do for the gambling industry, and the question remains, is gambling for Bitcoin less likely to cause addiction?
Now, this is a subjective question and one that has a few possible answers. To really get to the root of the issue we have to look at both sides of the coin. This will help us to determine just how good Bitcoin is as a gambling tool, and whether it is likely to lead to further problems with addiction. So we’re going to look at both sides now, and consider whether gambling for Bitcoin is less likely to cause addiction.
In the yes column we have a couple of arguments as to why gambling for Bitcoin might be less likely to cause addiction. For one thing, Bitcoin is a less tangible commodity than actual money, and this plays a role psychologically. Even with a big win, people don’t feel as though they have won a lot of money, and there isn’t that addictive side to things. This helps keep things a little more self-regulated, and people may be likely to get less carried away.
Another reason we feel that makes Bitcoin gambling less addictive is the cost of Bitcoin. When you sign up to an online casino or sportsbook, you can select smaller amounts to deposit, like £5, or £10. A single BTC these days is valued at well over £1,000, and this sort of restricts the amount people can deposit or bet. As the price continues to grow, it will become more difficult for people to bet large quantities of Bitcoin.
Now, there are also drawbacks to gambling using Bitcoin casinos as well. And something that is seen as a positive can also be viewed as a negative. The fact that Bitcoin is digital makes players feel like they aren’t really betting money when technically they are. This is likely to make them a little more care-free and vicarious when it comes to their gambling. It can lead people to make bad choices and gamble money they can’t afford to lose.
The fact that Bitcoin is such an investment these days can actually make the addiction aspect worse as well. People covet Bitcoins and want to get on the gravy train. They know this cryptocurrency is going places, and it encourages them to do all they can to be a part of that. This encourages people to continue gambling to try to win those precious Bitcoin, and addiction looms.