Bitcoin Forum

Has anyone considered this yet? A in-real-life Bitcoin casino with Bitcoin machines where you can scan QR codes on them and deposit your BTC on there and start playing. I think it would be pretty cool, no longer would have to deal with annoying coins which are always dirty and are pretty disgusting to touch specially while you are eating/drinking while you play. The machines would be able to do things normal machines can't do, and stealing funds from the casino would be next to impossible since there are no physical money to stuff, it's all digital and encrypted.

Who will be the first person to start a successful physical Bitcoin business?

Ive had this same idea and an sort of surprised I havent seen a Bitcoin slot machine like this. (granted I hardly ever gamble so they be around). The machines Ive played on are almost all credit card style machines anyway, there is no physical coins to put in so switching to bitcoin should be simple.

I's a good idea if Bitcoin transaction can be completed in a matter of seconds and if they will accept bet after 1 transaction. Imagine yourself sitting in front of a slot machine and you want to play so you pull out your smart phone to scan the QR code and then wait for 1 transaction, that's a big hassle right? Unless Casino accepts Bitcoin as payments for chips and token, i'll be happy to fall in line.

One can end up waiting hours for one confirmation...

i had idea of that kind and it would be nice but it would be too hard and too big investment to make those machines..
regards.
-Katerniko1

Theres certainly possibilities of it happening and it might happen at some point but not yet. They would need to use a system that doesnt need confirmations when you deposit and it would help if the deposit was "casino wide" so you would not need to deposit for every different game. Not sure how to achieve this in  way that makes sense, but someone will figure it out.

Cool idea, but it would probably in all likelihood have to be in a very Bitcoin-friendly country. For sure not in the U.S., at least not yet, not in the current climate. Although if an American Indian tribal nation were to offer a bitcoin option in their casinos it might have a better chance of happening as they can do whatever they want. Other than that, maybe some island nation somewhere nice.

While this seems more like of a novelty idea, having a real life BTC casino just to advertise their online site can be an amazing and totally unique marketing campaign. It can act more as an informative stand to explain gamblers and common people about the virtues of Bitcoin. And who knows, maybe it eventually starts a revolution in the gambling world!

The machines would have to change though, they should be more like real life games instead or much more complex slots, what's the point of playing if it's all handled with your smartphone? You can even download an app "remote" to control the slots and games in a huge screen.

Are physical casino's accept cards (prepaid/credit) for buying those chips? If yes, then this is existing already. There are prepaid cards out there that can be funded by Bitcoins.

No, his idea would be getting rid of the chips altogether. You just deposit BTC into the casino's or machine's wallet directly and then you go play. It's a great idea in terms of advertising and marketing but for actual use it's more planning on terms of how it will all work. Same old real life casinos with boring slots won't cut it I think.

More problems might arise related to transactions and stuff.Moreover server down=Casino Shut until it recovers.Additional programming challenges integrating hardware and event triggering on conformations (which can take time who knows).

I thought a casino in The Old Town, Vegas accepted bitcoin?

I think that the biggest problem would definitly be the regulation. The government could not like this idea, and could think that you could steal some money from the taxes.

I mean, you've brought up a pretty good point here.  It will be one thing to find a place (probably would have to be in Las Vegas) to set up a casino and be able to fund it and employees... but it would be another thing to try and get that approved by the government.  Even at somewhere like Las Vegas, or any other city that approves gambling for that matter; you have to take into account that at this moment, the government won't be able to tax any of those winnings... which is a big "NO-NO" for them.  I mean hell, letting someone have fun and earn money without them taking a cut?? Yeah right.

So in order to get something like this approved, you would probably have to jump through hoops for a couple of years, just trying to get the Fed to hear you out, let alone trying to actually get it approved and having a license to open up shop.

Yes governement will be biggest hurdle to pass through before those casino start accepting direct bitcoin deposit on their machine. However i think buying chips with bitcoin is allowed but they may ask your identity before getting depositing address. Here in Nepal local citizens are even not allowed to enter casinos so seeing this happend here is like dream or beyond imagination. >:(

Was also thinking of what if this would be integrated? Physical bitcoins could be a nice way actually, instead of the traditional QR code scanner before you could play a game of slots.

No I don't think that physical bitcoins is a good idea, except if you're paying in paper wallets. I don't hink this is a good idea because if you lose, you'll lose also the money worth of the value of the physical coin. Some of them are really expensive, worth more than 1BTC only for the coin.

if bitcoin in physical form what it would be like gold, it is difficult to imagine forms of physical bitcoin  ::)

i have read in the past, in las vegas have different bitcoin atm (and if i remember good, mike tyson have already a btc atm), already in the physical casino. Why don't open direct a bitcoin slot machine or other?

I think its imposible because the transaction process needs to confirm before you start to play but if you use the bitcoin as to buy a bitcoin toket maybe
it will work. but i think in the near future the transaction process will much faster than now..

I dont know, it isnt that much fun without any kind of physical coins. It would be cool though, if you could exchange BTC for bitcoin-coins and then play with them:D

Exactly that's why it could be the starting point of a new way of real life gambling with Bitcoins, new types of games and machines should be created and imagined, sort of futuristic gambling let's say hehe. The idea I think would be creating something completely new and unique and at the same time introduce Bitcoin to new people.

I remember last year a post on reddit about a casino which started to accept bitcoin for gambling in vegas. So probably we already have one. Doesn't look like it would be much of a craze though.

i doubt that there will be any players who would like to try it out because bitcoin is anonymous and if people want to play in real life not anonymously they will most probably choose money over bitcoins

it would be a really great thing in my opinion, i would be very curious to try it out if there were a physical casino where i could use my bitcoins to make bets, hopefully it will happen one day

Well, this shouldn't be a problem if the casino accepts 0 confirmations, if they decide that they don't accept 0 confirmations because of security reasons, it's not a problem in the long term as we will have the Lightning Network, so maybe whoever wants to do this is waiting for something like the Lightning Network to be operative.

Idea sounds fun and interesting but i think there are two problems to this:
1.What if someone bet and wins big and in a hurry to withdraw but his deposit confirmation is taking too long then he has to wait at the casino to get his money,yes?
2.Sometimes although rarely bitcoin confirmations can take upto hours so the player can not play instantly therefore it's much better to have online casino as player can play just by logging to the website again instead of visiting the casino!

The main problem seem to be confirmation times yes, but as I said, 0 confirmation shouldn't be an issue, since it's still way safer than trusting credit cards (lets remind here that credit cards take 180 days to confirm, yet I dont see anyone complaining). But again, Lightning Network alone should be enough to be able to make this sort of service feasible, but we will need to wait 1+ year for this to be working, so right now I don't see much ways around it other than dealing with 0 confs.

0 confirmations are not safe and you should know it unless you are aware of recent malleability attack.A player can send fake transaction or double spent and that tx will never get even 1 confirmation because the same input is spended twice so therefore atleast 1 conifrmation requirement is necessary and then again in some rare cases it can take many hours to even get 1 confirmation(Personal experience) so yeah,this is the main problem.

To solve this problem, like I already proposed in this thread earlier, you can accept Bitcoin paper wallets instead of raw bitcoins. Also, people could have to create an account at the enter of the casino with all their bitcoins on it. Then all the transactions would be internal, without confirmation time nor transaction fees. While with paper wallets people could write in a paper the private keys and spend the bitcoins before the casino, I can't find any problem to the second system :) !

Lol, good point.  Maybe someone should contact their local casino and ask about this--it'd be better than starting up your own.  Then again, virtual slot machines and casinos already exist for bitcoin, which is kind of the whole point with btc, is it not?  Gambling is illegal in a lot of places, and btc gets around this.

You could give them your BTC-Adress, they will wait until they got enough confirmations and will then send you the bitcoins. So you will not need to stay at the casino.

There are normal live action casinos in Las Vegas where you can buy chips and tokens for bitcoin already. I am pretty sure that bitcoin is accepted in some old and reputable Casinos there.

I am not sure if that count as 'physical bitcoin casino' though.

It just seems fun, because if you run a casino with bitcoins, your country must have bitcoin as legal, else you wont be able to run the casino for long. Yes if Bitcoins are legal at your place then yeah it must be a superb idea !

Well as pointed before, the Lightning Network once it's running it will be able to open paymen channels for casinos and then all the stuff will go off chain and then process teh blocks in a more efficient way to not collapse the network with shitty small amount transactions (basically a lot of spam). Also someone has proposed a workaround with QR codes, but the real stuff will come with the LN.

There are already physical bitcoins on the market, google it.
A physical coin has a private address hidden somewhere inside and you can enter it manually or scan it with a phone to use the money.

Yeah but this is pretty pointless beyond a collectable item or something. The main point of Bitcoin is to have property and value in a decentralized, digital way. Doing this into physical coins has no sense, unless the materials and design is cool and like I said before, it has an extra collectible value (the Casacius coins are way more expensive than their equivalent in actual BTC). For example 1BTC Casacius coin is more expensive than 1BTC to buy.

What would the point be with a physical Bitcoin casino? The coin, as far as I understand it, is NOT designed to be a physical coin. I could imagine casinos in the future accept Bitcoins as a payment option, or even as a deposit option to buy casino chips.

bitcoin is a digital currency so its perfect for an online casino but for a physical casino, i dont think so. i can't imagine myself betting on it and wait for hours for my transaction to be confirmed. the transaction time will be a problem. just let bitcoin casinos on online ;)

is it possible to double spend your money just from a phone too? is it such an easy process? i doubt that it would actually cause enough problem for it to be impossible to create a physical casino

Why do you think you would have to wait for hours ? It should be the same as paying for any other service with bitcoin. With third party as bitpay it would be near instant.
The risk of scam attempts isn't great, because you would have to probably wait 3 confirmations or so before cashing out from casino, and that would happen while you're playing
anyways. Casinos with bitcoin support is actually a very good idea.

Yes, but it is normal because it not only has 1BTC inside but it also has an additional physical feature. It's like adding a feature to fiat money by imprinting it on a golden paper. It will not only have its own value but also the value of gold it is on.

Not a good idea. I don't want to spend my time scanning qr codes and waiting for my transactions to confirm. Maybe if you could buy chips with our bitcoin, that'll be alot more efficient and attracting.

This is the only way. Physical Bitcoins are so valuable that people would surely try to steal them. The casino owner would have to be more worried about thieves than of a skilled player breaking the bank.

I think we just need to wait for additional layers like lightning network to appear so we can deal with insane levels of instant transaction volume, until then it's not a really good idea, but it's a good business in my book, i think someone sooner or later will do this, or an arcade room, something like this that runs on Bitcoin.

pretty good idea, just only if they would give tokens for bitcoins, otherwise it would take too long

this might be good idea, just better would be if you could scan code to get tokens, otherwise it would be just too hard to pay, because scanning and placing bet would take time, and in game like roulette, you don't have lots of free time, but might be real in future

that would be great idea but the biggest problem on my country is casino are illegal and impossible to built physical Bitcoin casino also that's impossible for me if i want do a gambling use my bitcoin i must be go out of my country because physical Bitcoin casino are not available on my country

Hmmm...this could be fun, but only for the first time. It's kind of like wasting a trip to the casino when you can just gamble online in the comfort of your own home. What if you want to withdraw your coins and go to another machine and use them? You'd have to wait for the confirmation to come through in order to deposit onto the next machine and start playing.

yeah you right that instead using bitcoin to transact it or to bet it its better to use a poker chip so that no need to wait for the transaction after confirm..
This great idea.. but for me its better to play in online using bitcoin..

Its not a bad idea and who knows maybe one day it will be added to real life casinos

Actually it's a good idea though, maybe someday a rich man make a casino for Physical bitcoins casino. I'm sure it will popular so fast, and so many people around the world will go to your bitcoin casino.

In my country there's a lot of computer shops that turned their business to electronic games using same computers but no more of those RPG's, just online casino stuff, maybe if they accept payment to start playing and funding using Bitcoins that would be a good start.

Why should anyone make physical bitcoin just for gambling? I think you need a lot of bag to carry just that chip. There is no way physical bitcoin will implement in this world because using bitcoin wallet to become anonymous is pretty good enough so physical bitcoin will just wasted and make it harder

And if the machines are whit a sistem like satoshimines, where you deposit and your balance show up immediately but you can whitdraw only when transaction gets confirmed?

more online casino have this option (i remember directbet for casino and sport booking) but in real life not is a good idea. I have worked in a bar, with slot machine and players like have win immediatly, with bitcoin, more time wait already 30 minute and more for have the first confirm

This is a great idea, yeah we know the transaction is not so instant but you can try use physical bitcoin as chips instead waiting for transaction..
So you can play fast than waiting the transaction before you start to play..

Ya it is right creating bitcoin casino instead we can create of Bitcoin payment option for buying chips and token to play physical casino , this will be more easy and  fast. I am also waiting for this.

Indeed, I think this can really happen, you only need players that are into bitcoin or you should just as a casino accept the bitcoin but also the normal cash that people can exchange to the bitcoin.
This would be pretty nice because so get people attracted right ?