gambling specifically because of regulatory arbitrage and anonymity. Traditional online gambling faces heavy restrictions in many jurisdictions, and bitcoin casinos often operate in legal gray areas that allow people to gamble without the identity verification required by licensed operators. These users value the ability to gamble without creating extensive digital paper trails or governmental oversight.
The Degenerates (a term some gamblers use self-referentially) are problem gamblers who have found a new venue. The 24/7 accessibility, instant deposits, and lack of banking controls that might limit their gambling make bitcoin casinos particularly dangerous for people struggling with addiction. The volatility of bitcoin itself can add another layer of compulsive behavior, where users are chasing losses in both their gambling and their cryptocurrency holdings.
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