Sirwin
Sirwin

Yes, crypto casinos are a scam


"Scam; a fraudulent or deceptive act or operation." Alright, let's address the elephant in the room: Yes, we all like to see crypto adoption and witnessed how it has beaten both the test of time and traditional online banking and payment services in many fields. But "we" the people who hodl and actively use all sorts of crypto are not the only ones who keep a close eye on it's use cases. Like it or not, there is a certain group of opportunists who also slimed their way into crypto and uses it to bypass age and nationality verification or even regional gambling restrictions, as they use "social media" characters with large followers to shill their brand.

Before we even get into crypto casinos of whom I won't even name a single one to avoid any publication, we need to first address online casinos. Because after all, before crypto casinos, there were Euro based online casino. This my friend used to be the absolute dumbest of the dumb, the most idiotic and unregulated form of gambling possible yet it became a multi-billion Euro industry as once independent and sovereign countries across Europe were powerless to stop it, because these lowlifes had acquired a 75.000 Euro license from Malta and could now operate within the EU.

I say "used to be" because believe it or not, it has actually gotten worse. How? By combining unregulated, unprotected and downright scamming crypto gambling sites who all use the same online live casino service set up in Latvia. Why Latvia you ask? Because criminals and lowlifes don't exactly have a knack for paying fair wages and protecting workers' rights, so they chose one of the poorest EU countries to exploit it's people there, as they rob the people from wealthier EU countries.

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Ah yes, good old outsourcing and max profiting. So what happened when the world of online casinos met the crypto world? Never before seen levels of theft and injustice:

 

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I know those are a lot of grievances and complaints, but if you took the time to learn from these people's mistakes you would quickly realize this reoccurring conclusion: Just go to X or Y place, everything will be A-OK there. I know I touched upon this before but feel I have to repeat: All bets and gambling options available at any bookie or casino, whether sports, slots or casino games, you the player defacto already lost the moment you place a bet. It really is that simple, if there was any casino game or sports bet where you had an edge instead of them then it would simply not even exist, period.

Every single betting option pretty much follows the same math which puts you at a disadvantage. Blackjack requires you to act first hence allowing you to "bust" first before the dealer does which is what gives them the extra edge. Roulette has at least one "zero" on the wheel which means the red/black or odd/even bets are now no longer 50/50 as there is one extra possible result in which both sides lose. Baccarat pays less than double on the banker outcome hence again putting the player at a disadvantage regarding the odds. That dice game where one of your bets loses to a 7 seems like a reasonable odd, but with two dice 7 is the only number that can show up no matter what the first dice rolls.

Even in sports betting you will never find a 2-way outcome pay 2.00, it's simply impossible. The best/most equal outcome you will ever see is 1.91 vs 1.91 hence giving the bookmaker an extra advantage of 0.09 cents per 1 Euro you bet so no matter if you win or lose, they already started wining the moment you place a bet. So no, going to "X or Y" place to gamble is not the answer. I get what they are saying, your account won't get locked, there aren't unfair limitations there and it's at least (mostly) regulated, but in the long run the outcome is still the same: You lose!

Now some might not characterize these things as "scams" because they'd argue the player can read the rules before playing and calculate how much of a disadvantage they have. They call this calculation RTP and whether or not you agree, there is this extra disadvantage at crypto casinos where I can say with 99.99% certainty that they are scamming their players. Cancelled sports bets, dubious movement of the roulette ball gravity will not allow anywhere else in this world other than online casinos and above all, limited payouts. There have been numerous reports and complaints about the main online provider from Latvia who hosts the games to have limited or entirely cancelled high payouts and cite "an error" in the dealer or machine's function. It varies in games from 5 card royal flush, to 3 card trips where they put the game on halt for 10- to 15 minutes and then even hold off the payout and eventually claim that after further instigation they have found an error in the dealer's handling or the shuffling machine and that their terms and services gives them the right to then cancel all bets. Now here's something you actually can bet on: You can bet your bottom Dollar that had the dealer gotten the straight flush and thus all the players lost their bets, no one would even check nor blink twice and the game would quickly continue to the next round. That my friend, is what can be defined as a s-c-a-m.

Still the most interesting one IMO is the "max win" bet because this one is constant and also a written rule in their terms. Here they are literally accepting people's high wagers, but should a possible big payout occur they will limit your win to a fixed amount stated in their terms, which everyone of course reads thoroughly before gambling.🙃

Yes it sounds very cliche, but gambling is just not worth it. It wasn't worth it with your fiat money, it's an outright crime to do it with your crypto. Now I would close off with the Waves meme coin saga from our mans Sasha, but he has apparently disabled the replies.😂

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Oh, and streamers who casually introduce these crypto casinos to their (mostly young) viewers while pretending to be anti-gambling are absolute ***** and can go **** themselves.

 

 

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Geo-Political & Economical developments
Geo-Political & Economical developments

Things are almost never as they seem. If you sincerely think that world powers would spend their money and resources in order to just "help" citizens from foreign nations, you might want to ask yourself why they've been neglecting and out right murdering their own citizens for decades. What are their true motives for wanting to fund foreign (terror) groups, start global confrontations and wars? I'll let you in on a little secret; It has NOTHING to do with "human rights" nor "democracy".

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