Bitcoin Forum

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I would love to get feedback from this community about the CryptoChipping exchange service running with several 5-star hotels where you can buy real casino chips with cryptocurrency www.cryptochip.io

The new platform also provides a free Junket trip (free flight+hotel paid by the casino) if you commit to buy chips at a certain amount.

Copies of signed agreements with the hotels can be found in the whitepapar.  Any comments or questions anyone?

Its an interesting idea but it would be better if you could just convert crypto into chips at the casino instead of having to buy some sort of package deal. And in the agreement you have to play at least 4 hours a day for 3 days, and deposit 4,000 euros upfront... That's a lot of gambling! Like a mini-marathon.

Thanks Nutildah.

Players don't have to book the free holiday package to use the CryptoChipping exchange service. These are two different products:

Product1 - CryptoChipping
The CryptoChipping unique service is similar to other cryptocurrency exchange services. The difference is simple, convert your cryptocurrency to real  casino chips. This is done by exchanging the player’s cryptocurrency on our platform to casino chips which shall wait for him/her at the casino counter upon arrival, or added into his/her casino account in real-time.

Product 2 - Online Junket Trips Booking
The booking process is similar to any other holiday booking website. The difference is simple, book a free flight and hotel. The user browse through the CryptoChip platform, chooses dates and destinations. The booking is for free and the holiday package is for free but the player must make a refundable deposit online to secure his/her booking to prevent a “no-show”. Flight and hotel tickets as well as the transportation details are being sent over email to the player immediately after the booking process is completed successfully. Once the player arrives to the hotel he/her is in fact a guest of the casino and not just a regular guest of the hotel which gives him/her special privileges. After the hotel check-out process the Player’s booking deposit is released and given back to the player.

The 2nd product is for players who already fly abroad especially to play anyway.

Nice and timely concept but wouldn't it violate laws and rules of the host country as I am not paying in the currency of the designated country while betting on a casino physically located there ?
Apparently it seems a violation of many country's foreign currency laws and hope will not be in any trouble in a foreign land!

Ewinsane - Yes you are "paying" in the currency of the designated country:

1) You send cryptocurrency to us.
2) We Exchange it for the designated country currency.
3) We send it to the casino.

Does it make more sense now?

I like this idea. So, casino also into crypto world and why they wouldn't be? They know very well how to attract customers and get their money. Lol. It is good thing, and I would like to invest in such casinos as I will be using my online money and put it straight into casino and when I win something from casino that would be just tax free! That's another benefit I'm looking at.

Your winnings amount will still be recorded and kept by the casino (in your personal player's card) and by us (in your user account) so I wouldn't say it is a benefit nor a way to avoid tax in your origin country.