Credit score

How to get a better Credit Score as a Gambler

Gambling can always create an illusion in a person that they are measured and responsible, however, this illusion just clouds their judgment and forces them to make terrible decisions. We believe that there are individuals out there, who know that gambling is just for fun and not a crazy activity they need to do every day. Most of the gamblers have it as a hobby and practice it maybe once or twice a week. However, the banks where you have accounts and the ones you are using to make deposits on the casino websites do not think this way.

Why you should avoid deposits with your bank account

Now try to imagine, when was the last time a bank made money because people used it as a place to deposit money? did they require fees for your deposits? very rarely, it’s just transactions that could warrant some kind of commission. The real source of revenue for the banks is the loan system of course. You take a percentage of money and then you return it with interest. Like you take $100 and suddenly you owe them $110. This is their primary revenue and they do not want it to be jeopardized, therefore they can’t go around giving money to everyone, can they? Therefore, banks screen all of the activities on a person’s account, look at their transactions and try to determine whether or not they are worthy of a loan. Now having a history of transactions on a gambling operator’s website immediately discredits you as a potential loan applicant. Imagine you are a banker and a person approaches you for a loan, you find out that he is a gambling addict, which means that most probably he is going to use your loan for some games. This should immediately tell you that you will not be getting your money back.

Because of unclarity, banks are now displaying cases that could harm or benefit your credit score. Unfortunately, gambling is sometimes not mentioned as a harmful transaction, making people confused as to why they get denied the loans they apply for. This is where Bitcoin comes in for the gambling operators. Because of the anonymity and external storage spaces, nobody can track that you are using Bitcoin as a means of gambling, creating a better option.

How does Bitcoin help gamblers?

Bitcoins are very versatile around the digital world. It doesn’t have to be connected to an account that is under the control of a bank. There are numerous e-Wallets where you can store them. There are even more crypto exchanges that offer the same services. What I’m trying to say is that if you decide to gamble with Bitcoin, nobody will ever find out, not the banks, not the government, not your parents, nobody. This creates an anonymity haven, which means that you can gamble while not damaging your credit history.

One could also try comparing crypto gambling sites and determining from there because some of them are trying to feature their own tokens and coins, which means you need to transfer with fiat currencies and then purchase those coins on the sport.

But still, transactions made with digital currencies is sometimes even easier to make. Most credit cards take days to process a withdrawal or a deposit, which could inhibit your ability to quickly get into the game. In terms of digital currencies, there is pretty much no gap. Just find out how many transactions can be made a second with that specific crypto and you’ll see a clear picture. Usually, it never takes more than an hour (which is quite rare in itself).

Cryptos are truly helping people to regain their individuality and anonymity. Fearing to gamble just because a bank could deny you a loan in the future is a terrible situation to live in. Now we’re not saying to ditch the banks and quickly transfer all of your assets to your e-Wallet and make them cryptos. Banks could be useful, they’re an amazing place to safely store your money. What we’re trying to say is that, if you’re going to gamble, try it with Bitcoin, or just make an account in a different bank who loans you’ll never use and transfer money to the operator from that account.

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