Bitcoin Forum

There are plethora of online casinos (gambling sites) which accept popular cryptocurrencies like Bitcoin and Ethereum. This is good because you can place your bets anonymously without all of the hurdles involved with Fiat. No KYC, means freedom. The only downside is that you'll be missing the experience of gambling in a real world setting. Physical interaction is not the same as going virtual.

I've been wondering what's been holding back real world casinos from adopting crypto? It is because they fear a government crackdown? Or because of crypto's volatility? With how popular crypto/Blockchain tech is right now, there should be at least one physical casino you can go to and place your bets with crypto. Thoughts? ???

sadly there isn't. but for what it's worth at least there is some adoption going on. it may be slow but it is still progress.

for instance, resort world las vegas, a resort casino. in the article below it is said that they will accept cryptocurrency on select services when they opened again last June. sure the services may not be on gambling but at least they started adopting. who knows maybe in few years they start accepting cryptocurrency to their gambling too.

https://globetrender.com/2021/06/17/resorts-world-las-vegas-cryptocurrency-payments/

also, this
https://www.bloomberg.com/news/articles/2021-01-05/gamblers-could-use-bitcoin-at-slot-machines-with-this-new-patent

Freedom until you win a significant amount that is. Online casinos have a clause to ask for KYC if they feel they need to. Most of them are moving towards compliance so they stay in business.

They are already regulated so the likely answer is the price volatility. Another possible reason is they have to stay liquid all the time since there are customers who prefer payment in fiat over bitcoin.

I think they found a workaround to this. There are some casinos that allow installation of bitcoin ATMs in the vicinity. Gamblers can simply encash there and play.

It is still a process that is still opening up. The system is not totally free now as you still have restrictions even with online casinos that ask for KYC. Physically, you have some government making hate speech about cryptocurrency except the government that are adopting like El Salvador, it can commence from there but is a gradual process and casino is yet to be a popular physically gambling setting to start adoption of cryptocurrency. It could take more 5-10 years for that to start happening.

Gambling in the real world where I live is still strictly prohibited and of course its existence is still very difficult to visit. Usually it is often found in urban areas. nightclubs, and big bars that pay taxes to the government, so they are free to operate. While the rest is considered illegal and if identified by the authorities you will certainly be subject to sanctions and risk worse than that.

Therefore, online gambling is something that is still liked even though there are bars and gambling places near the house. Without the need for physical contact that often causes riots when you drink a glass of beer and a womanizer. Betting online is not only safe but you also don't have to worry about the time limit.

Why should they? Getting physical casino credits can be done online, fast, and quickly within just a few seconds. Online payment and everything is digital now in fiat. And for a common person visiting a casino, hard cash is still the most convenient way.

I don't know how it will become convenient. If we have crypto, then it's easier to use it on a crypto gambling website, of course.

Why cross-borders if the purpose is just to gamble?

It's true. By now it's not possible due to restrictions imposed by local regulators, but International Game Technology, a big gambling company is already trying to introduce crypto currency to traditional casinos as deposit method. They just need the permission of the regulators to achieve this goal, what takes a long time and a lot of bureaucracy.
As far as I understood, gamblers could deposit crypto currency from their wallets directly to the casino's machines and receive an equivalent amount of fiat in the machines they are playing at the currently moment.

If that is really the case, I see no benefit at all, because gamblers would be still gambling with fiat. Regards this point online casinos platforms are much superior and it looks like they will remain like this for a long time.

https://bestbitcoincasino.net/are-land-based-casinos-accepting-bitcoin/

Imo one of the reasons why physical casinos don't accept crypto is because of the confirmation times I know it usually takes 10 mins on average but I think most people prefer a faster process and that's where fiat shines. The volatility is probably another good reason because imagine if the casino's minimum is $20 and you brought the exact amount but because of the volatility you only have $19 in your wallet.

I was also going to mention the casinos in las vegas since there used to be a thread about physical casinos accepting bitcoin but acroman beat me to it.

That's what I think how crypto money can be used in physical gambling or will it use a digital system too? Even though physical gambling still requires real money to do it, but what I have in mind can still happen in the near future and crypto will always be widely used on online casino sites that are currently still popular.

But there is still a lot of news about this, is it possible in the future it will be implemented into physical casinos according to demand?
Then what about convenience with physical money too?

Really doubt it for right now.

If the online version of that casino should be can, but for physical hmm bit skeptical about that. The few reasons is confirmation transfer need a few minute on the chain and need to reach minimum confirmation to make sure the TX is safe. Also, the dealer or working on the casino is non-crypto user should be hard for them to accepted this as well.

It seems like the lag time on Bitcoin is actually one of it's biggest downfalls in an age where everyone wants things instantly (just look at Amazon Prime). Until Bitcoin can confirm instantly it will always be at a disadvantage over existing card networks and even cash. I feel like Bitcoin has a place in different fields, like currency exchange services - between Dollars and other currencies that can tolerate a bit of a delay and usually involve more sizable transaction amounts. As you point out, volatility is a big issue and Casinos already face enough of that with that on the floor - why would they want to integrate a payment system where they could lose a lot of money if somehow Bitcoin dropped in value substantially.

They are complying to the government's law and that's unlikely as of the moment. Maybe it's possible in the future but that would be a long time before we'll see that there will be one.
Right at the moment, they are good with fiat and having their own casino's money that will still be exchanged into fiat.

The lack of a clear legal framework for cryptocurrencies are probably what’s stopping physical casinos from accepting cryptocurrencies on their platforms. The gambling industry, while raking in a lot of tax money for the government, is still in a very delicate place due to a lot of concerns re: ethics and whatnot, and accepting currencies with no legal backing should be the least of their worries. In time, perhaps, this can happen. But for now it would be very improbable.

These businesses are regulated which does simply means that they are following government rules and regulations on where if they do tend out to make some crypto payment integration then this would already

ring the bell and most likely it would really be rejected out due to legality issues which we know that crypto is totally opposed when it comes to centralization.This is why we do see that it wont really be that

probable on adopting this thing but as far as i remember there are already some casinos been doing this? Ill be right back and post up some links.

I don't think physical casino will accept cryptocurrency in the future because of government policies and the nature of crypto market right away. This might make Fiat currency to lose value if all physical Casinos start accepting the use of Bitcoin for payment and transactions. It might not look that convenient and safe  for gamblers and Casinos to use their address to transact crypto, increasing the risk of one's wallet value. Due to the fluctuation of the crypto market, it's might affect rate of transactions increasing the tendency to scam.

I see no reason why a physical casino would not accept cryptocurrency. I think in the future most casinos will do this, but I am 100% sure they will accept payment through the 3rd party (some exchange) that will instantly convert the cryptocurrency into fiat for the casino. I don't think the casino would be interested in keeping its funds in cryptocurrency.

^ This is what exactly I am thinking of, the possible reason is that about the legal framework and since the physical casino was following jurisdiction under the country where they are. Probably this will depend on the country where the casino base, if this will come from El Salvador which is BTC has a legal tender, it could be BTC will use in that country in most gambling casinos, probably this is not a time yet or we are under on the process. BTC has a lot of opportunities that can do anonymously and this was what they are afraid of it. Nevertheless, in the future, this will be widely be adopted.

I think physical casinos will just have btc ATM in their premises like in some Vegas casinos.  People can withdraw their btc into fiat. But directly using btc or any other crypto, it is still far. But just like you said, like El Salvador, they may already try using btc in physical casinos as it is already voted to be a legal tender very soon. Let us see if indeed they will try accepting btc in their physical casinos and what would be the effect in their system.

Offline casinos is business with a lot of regulations. So they will accept crypto not before all other industries like financial, commercial and so on. Because of regulations they are very careful with anything can be considered as "grey"

So i think it will happen, but not very soon

Most of the online casinos accept currently cryptocurrency and that is why most of the people are currently betting online. For land casinos its like for stores and such thing. Crypto needs to find a way to be in local places. But i think this will happen in the next couple of years that we can see in both online and land casinos

Physical casinos are regulated, they can offer online gambling as well with different guidelines, and eventually, in the future, the regulators will be strict in implementing the KYC whether you are using fiat or crypto online and both can be used for money laundering. The fact that big countries are already putting a tax on crypto transactions, we will likely see a uniform implementation in the future and the so-called "anonymous betting" that we enjoyed today, might be gone tomorrow.

Well that is right, -- this was the hindrance in bitcoin that can be used in gambling casinos offline. Most likely they had a heavy regulation and as we know bitcoin is unregulated it is hardly believed that bitcoin can be used in offline casinos. But we don't know what will happen next, perhaps bitcoin will be accepted in most casinos and we can use our holding bitcoin to play slot games offline. It is too early to predict and we don't know what will happen next --but believe me, bitcoin has more progressing adoptions right now, it could be yes or no but let us hopefully wait.

And I believe that it can be stricter in the future knowing how money laundering has become rampant in the community these days and eventually, they are using casinos to help them out and keep them anonymous. But I'm still believing that they will accept crypto in the future as an option as long as a player will abide by their rules and done with their KYC.

I think you will need to wait plenty amount of time. And this doesn't matter how much adoptions bitcoin or any other cryptocurrency has. Just because of main reason described above in my post. That's all

That will be the logical thing that will happen. There will be a 3rd party that will convert the crypto into fiat right away, not a direct crypto payment in the casino. It's like using a credit or debit card but loaded with crypto.

Land-based casinos don't want to take chances on crypto because of its volatility. They are a big business and want a stable form of investment.

1. There’s a partial and, IMO, optimal solution - live casinos. It offers interesting experience, something in the middle between online and physical, and no problems with crypto usage.

2. How do you imagine crypto bets implemented offline? You buy real chips with crypto? Then why don’t just use cash to avoid revealing ID? Or everyone sitting at the real table will be using phones to make bets?
And is there really a sense in it? I mean, you’re sitting in there, probably being recorded by cameras and it’s possible that your ID will be required as you enter, anyone can recognise you. So what’s the point?

Hopefully, in due time we will be able to see physical casino undergo into adoption which caters cryptocurrency as one of their gambling currency which is a good alternative for betting.
On this technical idea, many methods will conveniently change in a way that cashless account would probably be used as the best and efficient ways to deal with your lucky winnings.
Both fiat and digital currency will be merged, in that ways people will eventually adopt in the long process.

I'm sure many people are wishing physical casinos will accept Crypto as bets, but so far they can only have Crypto ATM in their place and Vegas has ATMs in their location unfortunately these gambling capitals of the world are not yet ready to accept bets in Cryptocurrency, because they will have to change the system which is already implemented since the day they set up their casinos, if ever we will have one that will probably come from a new company who wants to set up a system that will accept Cryptocurrency as a bet.
It's a big challenge but if one casino succeeds we will have more coming up.

Although sometimes Bitcoin is legal in certain countries, many industries especially gambling still don't consider it as one of the payment methods for the payment transaction that is sometimes not as fast as cash, debit, or credit or other kinds of payment.
Additionally, they may still also consider another risk to have payment with Bitcoin where if they accept the payment at the high rate and then the price of BTC drops drastically quickly, they will think that they lose some of their money.

But, we don't know even the future.
Maybe, there will be other considerations and interests from some offline gambling to consider and accept Bitcoin.

And here, maybe it can be good news in the future
https://www.gamblingsites.org/blog/land-based-casinos-looking-to-accept-bitcoin-for-slot-machines/

Even it will be implemented, I doubt many will use it. Why should we convert our crypto just to play in fiat-based casinos if we can use it directly to where it should be, crypto-casinos.

If we plan to go into physical casinos, just convert to fiat in our own way. We can choose too on what rate we can convert at any time unlike in a physical casino, you are forced to sell and convert your crypto at that time just to play there.

yeah it goes to digital currency categories, very possible to see crypto since there are more and more online gambling site who are enjoying the benefits of this system, sooner or later physical casino will adopt this system and start accepting it as alternative to fiat.

cashless also avoid bringing physical fiat which endangered gamblers securities. With digital ways, there's no need to bring anything
just the device where you store your assets,.


With crypto existence, there's a big chance that adoption will take place and even gambling industry will acknowledge this system.

In the future they might be but for now, there’s a higher chance for online casinos to accept crypto aside from fiat money.

Aside from crypto gambling site we know that your local casinos also have their own gambling site, so crypto might be one of the option for them subject for regulations. If crypto is legal in your country, the probability are much higher.

Isnt already been adopted?

Properties like The D Hotel and Casino and Golden Gate Hotel and Casino currently accept Bitcoin and allow customers to pay for dining, hotel reservations, items at the gift shops and the front desk.
Vegas Auto Gallery, which caters to high end customers and luxury cars, also take Bitcoin as payment.

Link source: https://www.ktnv.com/13-investigates/bitcoin-bonanza-cryptocurrency-soars-in-value-las-vegas-casinos-business-embrace-it

Thats not going to happen unless crypto is part of the legal tender for the country. A casino in El Salvador will most likely accept bitcoin because its a legal tender there so there is no reason to deny it.

Most people seems to treat crypto as an asset instead of currency so there is no chance that it will be accepted in a casino. If gold bar isnt accepted in a casino then chances are slim that crypto is going to be accepted as well. Some casino probably will accept it but majority wont

As far as I understand, they are not yet directly accepting bitcoin inside the casino (games) but only in other services like what you mentioned.
It is not yet integrated in casino games like slots as they are still thinking how they can integrate crypto.
But as mentioned above, maybe the direct acceptance of btc or any other crypto is possible, like in El Salvador.
But right now, crypto payment is only possible with other casino services but not yet in their in-house games.

For sure those bitcoins would be still need to be convert out to fiat or chips and its not directly talking about implementation on in-house games just like what you said but this is actually a good add up since you can make use of your coin on that aspect but i dont see that it would be possible soon for it to be applied on those games where we know that such alteration is nearly impossible imho or might really took a very long time.

Some of these extra services are not really up to the casino itself, it's you the customer that makes these services possible should you keep requesting for them, and they will come due to popular demand.
Fyi the future looks more than ready to see more businesses not only casinos accepting crypto but this will happen if our ecommerce platforms can take this up and prove that it works.

There are quite a few issues with adopting crypto as payment right now, even more so considering it as one of the main payments. They may create a system for it now, but honestly, I doubt it would be used THAT much. It just isn't a mainstream method of payment YET imo. Issues include transaction speed, fees, and in general, the number of users that would actually use it. It isn't actually wrong to say that most people see Bitcoin as a way to store their money or as an investment, and not as a currency yet.

The crackdown is the least of the concern volatility is and how to set up the system, some transactions take time to arrive, when you are betting with chips there is no waiting time to consider, and it takes out the excitement when there are delays in the transaction, but who knows the probability is high that one gambling casino will take up the idea and set it up, there's a huge market on this.

I've stumbled upon this news (https://www.gamblingsites.com/blog/bitcoin-at-land-based-casinos-63263/) written three years ago. At that time, there was accordingly only one brick-and-mortar casino which accepts Bitcoin for actual gambling. Other casinos have been accepting Bitcoin but not for placing bets. Even Las Vegas casinos have already been accepting Bitcoin as payment for several years already, but such is only limited to restaurants, gift shops, and so on, not on the gambling floor.

Merit Hotel Nicosia in Cyprus is different in that it actually offers Bitcoin gambling to its guests using Bitstamp's Bitcoin price. So there's at least one brick-and-mortar casino accepting Bitcoin bets.

I guess they will not because most of the physical casinos are just regulated the paper money or the current currency they have in their country again the cryptocurrency is a volatile thing so they did not consider this. But i think in the future if the wide adaptation of the cryptocurrency becomes accepted for sure most of the businesses will adopt this kind of payment method but for now, they will not accept it yet. Still, we have online gambling casinos today already accepting and supporting the use of cryptocurrency payment.

Yeah, wasn't aware that there is at least one casino accepting bitcoin to their guess and what's surprising is that it is located in Cyprus. I was expecting like US based casino, anyhow, this is a good use case, if ever they continue to accept it or if there are customers willing to try and used bitcoin. As we all know bitcoin is getting precious by the minutes and majority of us are holders although there are still gamblers who still uses it (like me), but with not that huge amount of fiat equivalent.

I believe the first reason that you said is what they fear. A government crackdown.
We can't deny that if one physical casino starts it, a virus will be spread. Others will try to do the same that could lead to mass adoption.
They won't even try to scratch the surface that could lead to attacks from the government and would give them a difficult time from taxes to any reasons, even the unjust ones.

It's good to know that we have at least one excerpt in the article
at least we have one in case there are other casinos that would like to implement betting through Cryptocurrency, they will get an inspiration to this casino and might contact them for consultation on implementation.

Physical casinos might not adopt the use of crypto currency because it will prompt the development of an online exchange. Crypto casino is more appreciated online, except the physical casinos would decide to have an online alternative for gamblers who would prefer funding with crypto currency because without an exchange it would be a bit complicated calculating a  game won and it's payout

If countries are becoming more friendly to cryptocurrencies, it is possible physical casinos and other gambling sites will accept cryptocurrencies, this is not an issue but the issue is cryptocurrencies are online and suitable to use online, it is very possible most or almost all the customers that are making use of the casino may not use cryptocurrencies and prefer using fiat. If you check very well, you will know that the casino customers do not make use of electronic fiat transactions but prefer paper fiat and other substances that are physical like gold, fiat are suitable for them for this kind of purpose, I do not think enabling it will be successful.

We only have one now, Cryptocurrency is a work in progress, there will be more if there are demands, but right now it's much easier to gamble offline on these casinos because of the readiness of cash, gambling casinos, don't want the hassle of technicalities like traffic congestion and volatility of the price, they have a mindset of why fix when it's not broken.

Government.
Slow Transaction fees.

IMO, I don't think that the volatility is one of the reason why casinos aren't accepting crypto right now. The Government might be the main reason why they aren't accepting. Casinos are paying huge taxes and if they will accept crypto, they will be exempted in huge taxes since there isn't any regulation with cryptocurrencies (correct me here if I'm wrong) :). Another is the transaction fees maybe but I don't think that it affect that much especially if you give the transaction hash or ID to the cashier or any representative of the casino.

I just taught this reason but maybe another reason is there are some who aren't that knowledgeable when it comes to crypto. I know that it is becoming popular but still, there are some people who doesn't know at least the basics of it and this might be another reason why they aren't accepting it.

Casinos in crypto friendly nations might be willing to accept crypto payment otherwise not any positive signs.But we don't need them actually and pretty well gambling on crypto casino online just from my home and recently the online industry is one the Verge of rising and crypto gambling is becoming quite popular these days and if you have choice of playing over there why look for some physical options when world has taught you isolation is not that much boring if have interesting options with us.But when it becomes mainstream like in El Salvador and other countries you could probably use it as currency and go to any casino and buy chips by just scanning your QR code and boom you are on your table with other players.

Sure. Even when using stablecoins, the casino will instantly convert it to fiat. Their business is located in the fiat zone, so it makes no sense for them to have other assets on the balance sheet. This is neither bad nor good, it is just a feature of a physical casino operating in a fiat zone.

Mostly crypto currencies is accepted in online stores and in online gambling sites. There is no trend of crypto being accepted in physical stores on gambling casinos. Once the crypto become more popular i hope it will be accepted in all physical gambling houses.

I see no reason why they shouldn't accept cryptocurrencies. In my opinion, it would also be a minimal effort for the casinos to accept cryptos as a means of payment. They would only have to set up different wallets and that would be it. So you would enter the casino, go to the counter, send the amount of tokens or coins that you want to the wallet address that is given to you and done. If casinos are afraid of volatility issues they could at least accept stable coins like USDT or USDC. One problem could be though that you have to wait for a few minutes for your transaction to go through when the ETH network is congested, so this could be annoying.
I also think it is safer for casinos to accept cryptos as payment because this way they have less cash lying around.

Although right now there are not many requests from gamblers for physical casinos to accept crypto, as time goes on and crypto is gaining popularity.
I believe eventually physical casinos will consider accepting crypto, because maybe now accepting crypto is considered not to provide benefits for
the casino. So there are no physical casinos that accept crypto at this time, actually depends also on the rules of the country where the physical
casino is located. Because if the country where the physical casino is located prohibits crypto, will not be able to physically casino accept crypto.

theres is one if i remember but i forgot the name of that gambling company  .
it was also posted here in gambling forums but i guess that the number of similar hybrid casino have increase now because crypto is not a secret anymore .
 i dont think owners have a fear of cryptos being volatile because theres a solution to that but they dont accept crypto maybe because it was banned by their governments .

Why not? In that way they would be maximize the number of possible customers and with the pandemic right now I really think it would be all digitalized, or I mean less physical contact in Casino but if that happened what will happen to the online casinos? I think there's a difference between physical casino and online casino, I still prefer physical casino rather than online casino though.

Careful consideration is required if physical casinos bet using crypto as players are unlikely to wait long to play due to time-consuming transaction processing and even if the internet network is unstable and it will really require consideration that there must be a best solution for fast playing and comfortable gambling.
and besides that the government is still not friendly with kritpo and even prohibits it, and if possible it still takes a very long time and process so that no one is harmed or unexpected mistakes.

Yes, maybe someday because we know that there are big companies that have accepted Bitcoin as a means of payment, with this movement it is very possible that physical casinos will have many alternatives because they accept several existing cryptocurrencies. But if online gambling continues to be more popular then I guess, instead of physical casinos involving crypto it looks like physical casinos will be more interested in creating gambling sites as well, that way they can be involved in both worlds, right.

The adoption of cryptocurrency in physical casinos is sure to happen but not immediately. We're still really early in the crypto revolution 😁 I do think that unless both deposits and pay outs are made exclusively via crypto then it would be absolutely unnecessary to use to Fiat and cryptocurrency in physical casinos. However, once they can solve the regulation and infrastructure issues associated with crypto use, they'll be good to go.

I read sometime ago that  CryptoChip , is  offering CryptoChipping exchange service, they are converting cryptocurrency to physical based casino chips. Has the official ICO been published yet?

https://bitcointalk.org/index.php?action=profile;u=1018069;sa=showPosts

I guess it's possible but it will have a tight regulators or there's huge demand for operators to accept cryptos. Most likely what scares them was the regulators like FinCEN that was pressuring most physical casinos 'cause they are that strict especially to AML issues on the gambling side. I think regulations will here to stay and crypto isn't gonna end for good in the short term but physical casinos are missing something if they wouldn't grab the opportunity?

it must have been a great experience if we could use cryptocurrency to gamble in offline casinos...

how can offline casinos reject cryptocurrencies when it is mass-adopted. Crypto players who are used to playing online will definitely be very easy with this and can be a fun experience.

Maybe physical casinos are still comfortable with the current currency that they're using since it provides convenience. As for me, they always consider the welfare of their players before switching to other currencies but I believe that it could still possibly happen in the future since Bitcoin and other top coins are being adopted by some casinos.

Confirmations would be a pain for the casinos as they could not give you your winnings until confirmations of at least 2 were on the blockchain. I do not think Bitcoin works quick enough or well enough to become the main currency in a casino they will probably allow you to purchase chips with bitcoin because that would then remove the delays with Bitcoin when you are gambling.

I guess we can expect this to happen with legit casinos, one day they will start accepting crypto, that will come right after governments regulations. But casinos that have an illegal side will (money laundering, dealing with dirty money...) will not give up on cash... We all know how things work with cash.
After all, crypto is like money, if there's enough customers who wants to gamble with crypto in the land-based casino someone will make that possible for them.

If there's demand and there is a market and potential profit for developers and investors, they will likely look for it, they will do a feasibility study to check if it's worth creating physical casinos that only use Cryptocurrency, I like the idea, if one or two companies can start this we will have an industry and many more companies will follow.

IMO, it's still volatility that they fear just like how the merchants fear it. I have no idea how online casinos are managing the volatility but they are doing pretty good at keeping their businesses alive. What could be the secret? Is it the withdrawal fees? Up until now we could not see a big growth in adoption of crypto currencies as payment methods and I do think it will just happen if the government itself will start the change.
How cool would it be to use Bitcoin to start playing and it will be exchange for chips embedded with the bitcoin sign? That will be worthy to keep if permitted.

I think the process of achieving acceptance of cryptocurrencies solely depends on the government. If they see that cryptocurrencies are a threat to the economy or to the country, then this would affect its overall acceptance. This also applies to physical casinos in accepting cryptocurrencies as a payment.

Like what you have mentioned, lots of online gambling websites require KYC documents due to stringent regulations imposed by their respective government. Since online gambling websites can easily get away due to their nature, physical casinos, on the other hand, have much further stringent rules- that is why we won't see physical casinos accepting cryptocurrencies in the near future.

I think if the regulations are clear, modern offline casinos will also have the option of buying chips with crypto. right now not all regions allow crypto as a legal payment. I'm sure that many offline casinos also want to adapt bitcoin but limited by regulations because it's proven that online casinos are very crowded and in demand at this time. They definitely want to follow what is popular in casino bussiness.

Yes, for sure. If crypto currencies becomes the widely used payment medium then it is not going to be an exception in the physical casino. I heard that there are some underworld casinos are accepting bitcoin and other popular cryptos for making bets but unfortunately those things are unregulated so we can't find any information in the public domains.

1 - real world casinos operate by law, so to accept cryptocurrencies they would need to look at regulatory issues

2 - real world casinos have a customer base that probably doesn't know about cryptocurrencies, they are people who feel pretty good about using fiat, so casinos would have to have a solid customer base that likes cryptocurrencies in order for the casino to place cryptocurrencies

3 - the real world casinos would have to spend money to hire an employee who would implement and manage all the infrastructure that was necessary to accept the cryptocurrencies

how they may adopt cryptocurrency i think will also need the change of games. if the traditional casinos will only accept coins like BTC in exchange for chips, it's easy to do and they can do it today.

but if they integrating games where gamblers will scan QR codes using their phones to the slot machines or to the roulettes, that's quite a work. i'd be very curious how it will work out.

Almost guaranteed in my opinion.

It'll be a matter of time before the lines between physical and virtual casinos blur. Physical casinos like those on the Vegas strip will likely increasingly adopt technologies that push their operations online, especially after this pandemic hit.

Nobody wants to carry around a chip or even a card anymore in a physical casino. And with the inevitability of virtual-physical casino integration, companies will take a serious revenue hit if they fail to keep up with the crypto adoption trend.

The regulation from the government is holding back the offline casinos from adopting crypto because the casino does not want to break the law from their government. They need more time to wait for adopting crypto for their casino and maybe it will not happen in a short time depend on how their government reacts to the crypto. If their government can accept crypto and many people use crypto, the casino can start to integrate their system using crypto. But I am sure the casino already learn about crypto and probably, they also invest in crypto secretly.

They won't worry much about government crack down especially when their government and central bank recognizes Cryptocurrency. However, they still need to get permission If they want to accept crypto as a form of betting.
But, I don't see physical casinos allowing bet with crypto, because that could be a burden for the bettors paying extra for the tx fees every bet. The most possible scenario for this would be the physical casinos accepting crypto to buy their chips.

i though there are already casinos that accept crypto ? but as deposit to acquire chips but there are still no machines available for crypto playing gambling.
Yes , there are big chance to make this possible because crypto is the most promising and in demand electronic currency now.

Bad thing on this if the government of the said casino is corrupt because for sure that   casino will be burden from the gambling community.
There are exchange/wallet that requires no tx fee when sending , like on our country that sending bitcoin in the same wallet there is no fee if the same wallet sending and receiving .

The physical casino will soon accept Bitcoin. It's going to be valuable for them like how BTC to ba valuable for the institutions.

If they serve gamblers online, they should have a cryptocurrency option but this will once again be a possible platform that will require KYC. One thing that Bitcoiner will probably prefer is to just stay and play on the old bitcoin casinos, like the old ones, and leave the physical casino alone. We already have enough platforms asking out data.

No, I don't think it's too soon. Unless by "soon" you and I mean two different things. Think about one thing, in which physical store do you go and you can pay with cryptos? There are very few today. I think that hopefully we can wait for the next cycle, if in this one institutional adoption takes hold and we keep moving towards mass adoption.

We never know but it may not be Bitcoin or other coins or a new system created that will make transactions faster specifically for gambling without these very high fees that accompany each transaction, more than ten years ago we never know anything about online peer to peer that can track transaction or even decentralization, the Cryptocurrency technology is evolving and will continue to evolve to serve the needs of its industry,
if there's a market, the entrepreneurs will find a way.

I think that nowadays few shops and buyers use cryptocurrency for one simple reason - why should they do it if they are satisfied with fiat? The use of cryptocurrencies in online casinos is widespread for obvious reasons, but there is simply no particular reason for the transition to widespread use of cryptocurrencies by physical casinos.

Indeed, it is possible that in the future it will definitely happen and will be adopted by the casino in the real world. One of them needs to come up with the idea and provide some kind of experimental system, whether it is effective or not. it's just possible in the circles where the cryptoners are. Because the thing that becomes the obstacle may be the existence of places that still cannot be visited with a considerable distance.

Physical casinos offer a good experience than online gambling, however, due to the pandemic, people learn that gambling online is easier and cheaper, so Physical casinos revenue has decreased due to the restrictions, and for them to survive and stay profitable, they have to compete and operate an online casinos business also.

We should not limit the function of a physical casino, all of them operate for profit, and if they find an opportunity to boost their profit, then they will not hesitate to start accepting crypto as it's popular nowadays.

I think 'soon' is really soon! Accepting cryptocurrencies in a physical casino and paying in-store with cryptocurrency are completely different things... In the example of Tesla selling cars for bitcoin, it will be possible to buy chips or bet in a casino... But buying a coffee or a lollipop with bitcoin is very uncomfortable! :D

Agree, the casinos in each region are divided into territory but the principle of underground struggle still exists and always play tricks to seduce their customers, and to not be defeated as well as destroy the opponent, special tricks and extending the operation limit as well as the working time are very often created. Accepting crypto is a method of expanding overseas customer network, supporting online service while offline still working, publicity is relatively difficult with a few regulations from the government but pouring a little capital to create a different and anonymous name is not difficult

Physical casinos were afraid to accept bitcoin or altcoin while there is regulatory uncertainty, and also as I said before it is possible that physical casinos don't have many customers who accept bitcoin as a means of payment because regular casino customers want things fast and without a lot of headaches and the casino owners naturally must offer what the customers want and I don't think bitcoin is the preference of regular customers who have a lot of money in physical casinos


I've heard from many people saying that the experience that physical casinos bring is much better than online casinos.

It seems that people in the casino business are also aware of online casinos are viral with crypto. and those casino that aware of this i think will slowly adapt to the use of crypto. maybe by allowing the purchase of physical chips in casino with crypto? or maybe having an online site too. personally I thought it it very possible to happen.

see how many crypto online casinos have sprung up, that means the interest of casinos who want to get into crypto is very high
I am 100% sure that offline casinos will not refuse the huge profits they can get if they accept crypto

there are so many conveniences and benefits that players and casino owners can get if they adopt cryptocurrency
Not until 5 years from now for sure, we will see physical casinos accepting the crypto increase

Well uhmmm, I'm not yet aware of any physical casino to be accepting bitcoin or cryptos for stakes on bets at the moment but then, I think part of the reason would be about the time it takes for coins to be confirmed. Especially when the mempool is clouded with transactions, it would be a lot of wait time, taken out of there playtime. No one would like to be waiting on coins to confirm when they could have just deposited fiat and be handed casino chips to be at the table.

If you look again, the casinos should have been more suited with twitching than fiat. Reason been that, the casino chips stands for actual fiat money and that's exactly what they could do with bitcoin. A pre-deposit is all that it could take to get the difficulty out of the way.

Hard cash is still the most convenient way to gamble at a physical casino. But with crypto in play, that will not last for long. It's no secret that banks are planning to phase out physical cash from existence. Casinos will be forced to rely on digital payments one way or another.

I think what's stopping physical casinos from accepting crypto is government censorship. KYC/AML is a must for casino operators to continue in business. Something that's partially anonymous like crypto greatly goes against established rules by the government. If casinos make such a move, they might require gamblers to provide some sort of ID verification. I don't think anonymous gambling will be possible anytime soon. Crypto/Blockchain tech is still in its infancy, so we're going to have to wait a couple of years from now until it matures for serious use worldwide. Just my opinion :)

Adding and integrating crypto to these physical casinos will be just the same as the other payment methods. It doesn't give an impact honestly based on my observation. Using online banking or any online payment thru scan or something along those lines, credit cards, debit cards, physical money is way more fast, quick and convenient at these kinds of establishments compared to when using crypto.

I think it's not that they are fear because of the government law nor 100% concern about volatility but rather there might not be massive demands or requests from their clients for that type of payment method.

As mentioned in some replies, there are few on Vegas casinos but look, it was unable to trigger other casinos to follow.

It will eventually happen, most likely the reason why we do not see physical casinos accepting bitcoin at the moment is simply that there is not enough demand, and without that demand they probably do not really see the need to offer that service to their clients, so despite the popularity of bitcoin at online casinos it doesn't seem as if this is going to change anytime soon when it comes to physical casinos, but it is not as if this is a great issue right now when many casinos are still closed down because of the pandemic that is still ongoing.

It will happen eventually but right now, casinos are working well thru their online platform and maybe some of them already accept crypto. The adoption for this currency will happen at the right time, but since we are still on a pandemic some casinos still don’t want to take the risk of accepting crypto, we are still far from that.

Your answer does make sense, the physical casino doesn't accept crypto yet because there hasn't been much demand for it. So the physical casino
has not considered it important to accept crypto for now, but I believe in the next few years things will be different. We will find many physical
casinos accept crypto, because now crypto is not fully understood by many people and is still a minority. In fact there are still some countries that
prohibit crypto, we really have to be patient waiting for crypto to increase in popularity and be accepted by all countries in the world.
That way physical casinos accept crypto is only a matter of time, I believe eventually in the future all physical casinos will accept crypto.

I really don't see why they want to have such kind of adoption. The thing here is a vast majority of players still prefer online transactions of fiat which can be sent immediately. QR codes might help the biz to ease putting in long crypto addresses but still you will pay in fiat, or you are just converting fiat to crypto but fiat nevertheless. Going to casinos now still many would prefer bringing hard cash. So there I think it is really more convenience to use cash for the meantime.

Not necessary as fiat digital payment today is much quicker in transactions than before. Clients only need a 1-tap click and done. No more third-party payment processor is needed to convert BTC to fiat and since most payments are fiat, it will be hard to make an investigation in case of questionable crypto-transactions.

But you are right on your follow-up statement, since it's a fiat online casino, expect a KYC as a primary requirement, as usual. It shouldn't be questioned by new customers that want a crypto-payment since KYC is already the policy from the start.

It will continue for the future as the offline or online casinos that accept fiat will learn more about crypto before they accept crypto. Once the fiat casino accepts and integrates their payment with crypto, it will reach more people to their casino and that means those casinos will have more chances to make more profit from crypto. They can have an investment in crypto from their winning from the gamblers and their casino will get more members from people who use crypto.

Exactly, the competition in the future will be tougher, and casinos that are still using a traditional form or payment might not be able to compete, so for them to stay profitable, they will be forced to compete and will start accepting crypto, and actually, it's not a bad thing as adding it on their platform is not hard, instead, it will bring positive result as like you said, they will reach out to most gamblers.

If I'm not mistaken, we already have big fiat casinos that are already accepting crypto.

I think it will matter depends on the regulation of the country since if a country restrict their citizen to use crypto then provably we cannot see this happening but since most of the casinos either traditional or online are into the place where regulation are not so tight so maybe this will really happen but lets still see what will happen on future since crypto still controversial and many old school investors are quietly still not trusting this technology.

Suppose the traditional casino can not accept the changes in the gambling industry. In that case, that casino can not expand their business and reach more gamblers because the newest technology has been used by many casinos out there. Every casino is trying to implement the new technology to get more profit. Maybe they do not have been forced by anything but if the casino can not see what is happening in the gambling industry, they will not survive in the long run. Yes, I agree that the competition between every casino will be more challenging and only the casino that is aware of that will survive and get a big customer target.

I guess so, but that gives a chance for the casino that operates in the country that allows gambling because they can grow their business by implementing crypto for their members to get more gamblers who use crypto and introduce crypto to their existing members. We will see the gambling industry grow in the future, and even if people still use fiat to gamble, crypto will be part of the gambling business.

You have a point, but it is currently very difficult because most of us dont use cryptocurrency, and the current situation is that most people would rather go to a gambling website than a physical one. Fees are also a major obstacle, as they are extremely high. If I have a cryptocurrency and am playing at a physical casino, I believe I will pay with cash or a credit card because it is more convenient. However, we can expect a large number of casinos to accept this method in the future.

Maybe it will not happen too soon but it will happen in the future as we see that the crypto will have a bigger chance to be accepted in many merchants, not just in the gambling platform. But I guess people are already aware of the crypto and make many of them search for crypto and start to use crypto. It only needs to wait for the right time before the crypto explodes and will be known in many countries and make all people open their eyes about the crypto. I am sure that we will get on that time and we should enjoy the process and still gamble using crypto.

In my opinion, casinos will start accepting crypto only when crypto will be mass adopted. Due to fact, that all the casinos generate huge profits, they are strictly connected with laws and taxes. They buy licenses for every gambling machine, table or game they have. While the situation with crypto is rather shaky in every country, they can not accept it as a payment. But as soon as country will give a green light to crypto, it, as a payment, will be integrated in no time.

Indeed! the point is offline casinos needs legalities from the government,

and once the government allow crypto that's the sign that every business from that particular place will adopt this system, for now this discussions might take a long pause due to pandemic, as most of  those offline casinos are close.
There are things that might changed up since some of those offline casinos are now adopting online and digital process might include crypto, but that's another thing to discuss.

i see this as a business opportunity if they do not to be honest. Just go into a casino, buy some chips and then offer your services as intermediary getting paid in crypto and selling the chips. i am not much of a physical casino fan, but I think this would make sense... you know... you charge 3% on top of market price and covert back to fiat to avoid running risks. Would that work? Would this make the casinos actually start that change service by themselves?  I think that it would be a very smart move and mostly risk free, as they do not have to hold bitcoin reserves.

But the fact that physical casinos will begin to accept cryptocurrency does not mean an increase in its applicability. As I wrote above, casinos will accept cryptocurrency through the 3rd party (possibly an exchange) and in fact the casino will never have cryptocurrency on its account, since at the moment of payment it will be immediately converted to fiat.

It will eventually end up in fiat, all alternatives that are said to be betting with crypto will be exchanged for fiat. Well, fiat is a transaction tool that is prioritized in the form of exchange in its place. So fiat is still an option, even though the gambler is risking all his crypto in the end he will need fiat.

Or simply they would really be using current payment processors where depositing crypto and would be converted to fiat immediately since this gambling industry is a business and owners would tend
to accept directly in fiat but this is actually on owners preference but talking about integrating crypto currency into their games then it would surely take a while or wont really be that possible
for these years but talking about acceptance and adoption then we are really surely heading there.

I think it is a matter of people or a representative agent of a crypto casino talking with the owners of a traditional casino, very well you can set up a part of the traditional casino and place a PC that draws a lot of attention for different games, be it roulette, poker, Blck Jack, and being able to carry it out. For this, it can be taken into account that the possible association of the traditional casino wins a considerable percentage so that it likes the option of continuing to put more online casino machines, really no casino has taken this initiative, but it would expand in a great way because it is terrain that has not been explored.

i guess, this kind of scenario will soon be possible to countries like el salvador as they adopt bitcoin in their system. but for countries who are not yet legally adopting bitcoin in their financial system, would be hard to see crypto in physical casinos. they may set-up bitcoin ATMs within their premises, but not directly using it inside physical casinos.
once physical casinos accepting crypto showed a major boost in their revenue, then, maybe other physical casinos will follow thru.

I think that the use of cryptocurrencies in casinos is not as widely used as in online casinos because of the regulators. As soon as we see a working legislation fully regulating crypto assets, the trend of using cryptocurrencies in casinos will increase significantly.

The second factor that slows down this trend is more convenient for casino owners to use fiat, which they can use to avoid taxes.

Oh they will, it's only a matter of time when adoption gets big enough in cryptocurrency that they have to add an option or feature in their casino but given how profitable it is right now, it's probably a long time before they will allow or accept crypto payments.

Yes, if we are talking about a physical casino, then cash is the ideal option for a player at the moment. Crypto is cash in the online world, but nothing in the physical world can compete with fiat cash at the moment. And I see no reason why this situation could change (unless cash will be banned).

One of the doable ways for casinos to accept crypto would be that of implementing a payment processor that does the automatic crypto2fiat exchange for them. In that way, the player gambles in crypto but casino receives fiat money, thus reducing any administrative and fiscal risks.
Many of my friends who have shops all around the world do this (alongside keeping crypto with larger transaction amounts in order to avoid MC/VISA/AMEX abusive fees).

if we will take the physical stores as example they also accept other payment methods and some of this are digital so i believe  that can also happen to physical casinos and they will soon consider cryptos .
 they dont accept cryptos maybe they think that adoption was still small and theres less or no people that suggest them to add cryptos in their casino

why ? because people dont gamble their cryptos when its still profitable ? or the casino wont let the people to earn more ? but i think none of this reasons are correct .

No what I'm trying to say is that casinos are already profitable without the help of crypto so I think that it will take a long time for them to consider trying their hands on crypto since they make so much money as I have said earlier.

You mean this is done by the broker, not by the casino? I've never gambled at a physical casino, is it possible to buy chips to gamble by buying them from someone other than the casino where we want to gamble?

Crypto being accepted at physical casinos is very possible, especially if the country where the casino operates does not prohibit crypto, but maybe one of the casinos' reluctance to accept crypto is that volatily of crypto, when the bearish trend will be a challenge for the casino because their profits can be decrease

There's an existing service like that so I don't think that they will have a reason to delay putting that feature of crypto payment system. Also, this thing takes time and experiments because they have to see if the users will try that service.

Just wondering how this thing works? I mean if it's done online, then what's the difference between a land based casino and a online casino?


Most of them are afraid of cryptocurrency volatility, or they just don't want it because they don't know how it works, that's why they stick to fiat only when it comes to betting. Also, not all of their customers would probably use cryptocurrency therefore they don't have a choice but to continue to accept fiat instead of cryptocurrency. I mean, what's the point of accepting cryptocurrency as a bet if nobody on your players are willing to use it.

ahh okay but maybe physical casinos will consider adding crypto now since their income got lessen because of the covid pandemic and if people heard that the casino supports crypto currency ,
they will do anything to go outside and gamble there . to the casino that are not affected by the pandemic ,
 their earnings are still high but are they going to stop there ? would it be better if they can increase that earnings by the help of cryptos .

but on what process they will gonna accept this? providing machineries that can tabulate cryptocurrencies/
because if you mean accepting bitcoin to buy chips then what is the difference from accepting fiat .
old casinos or new , the importance here is which will accept bitcoin as physical casino offers.

and can't wait to bring only my Cellphone in casino houses to be able playing .

Ny KYC can be easily implemented on fiat but no one will ever do that, instead, KYC is implemented on almost everything and bitcoin being the cryptocurrency doesn't mean that it will be KYC free. Every government knows what cryptocurrencies are and what's their purpose, so, don't expect that you'll keep your anonimity while using the crypto. There are some casinos going to accept it but as the demand on it grows in real life casinos cases, then I believe they'll start work in it with the government to accept them in a regulated way. You'll be verified and then you'll be able to use bitcoin, I guess...

There's no big difference in terms of processing as long as the users understand how to use crypto, the big difference only is on the tax treatment as we know fiat casinos and crypto casinos have different regulations on taxation and casinos have to comply both on the requirement for them to have a smooth operation without regulatory problems.

Taxation is the least of the concern, implementation is the transaction fee and confirmation these are the two big issues that confront developers if they are going to set up a gambling casino that accepts Cryptocurrency in betting, once it is properly implemented the government can do its thing of regulation and taxation, as long as gambling site can compromise and follow the regulations all will be well.

No it should not take a long time, all that will matter is the rate of adoption and usage of cryptocurrency around the world not even in casinos. If people use cryptocurrency frequently it means they will also have it for spending and to do all the financial obligations and expenses they want to run including gambling. That means casinos won't have any choice but to follow the practice of using cryptocurrency also to run their business like other business that will accept cryptocurrency. All is for the rate of use to increase, casinos will open up more access to accept it naturally.

They probably accept VISA&MC so I don't see a reason why wouldn't they accept BTC however, cash suits them better. Bitcoin can be tracked. If anonymity is a concern, the player will probably either use something like XMR or FIAT.

Also the time needed to get the first confirmation would make things harder for the casino and the player. VISA will probably solve these with their blockchain cards/solutions.

But still, at least they will also move when there is already a demand from many of their customers, if there is no demand to include cryptocurrencies in physical casinos then the developers will not do it. Although crypto gambling also continues to grow in online gambling, it doesn't mean that physical casinos will easily involve crypto in their casinos, because of course there will be many considerations which I think all have their share and limits.

Expanding the business by accepting crypto do not need to wait for the demand from their existing customers.
It can be done in order to attract those who are gambling with crypto online to gamble offline with the same payment method (crypto).
So the land based casino will have more players from crypto based gamblers.

They will, it's inevitable that they have to given the continuous rise of bitcoin and cryptocurrencies as a whole, with more people everyday wanting to learn about it and investing on it when they can. It's only a matter of time and how trendy it becomes for people in the gambling circles to notice it.

Crypto will definitely be accepted in physical casino if the government in the country where the business is run has legalized crypto as a means of payment. Legality will still be one of the consideration for physical casino entrepreneurs so as not to violate government regulation, I think. I believe that sooner or later crypto will be accepted in physical casino.

It is only a matter of time to see crypto start to be accepted in physical casinos.

yeah right! depends from how demands will take place, once adoptions happened in most places of the world, businesses will follow and start using this system. Especially once the government rule it out and legalize this industry,

Expect that more and more venues of business will follow that lead, and gambling is not exempt in doing so. We will see how crypto will work along side with fiat and any other form of currencies that being use inside every physical casinos in every side of the world.

It seems like real world casinos have a problem already with how exposed to money laundering they can be, people are expected to walk in with thousands of dollars in cash and it is well known that "the house" is designed to take it all if given enough time. That means they are heavily exposed to accounting fraud and probably have a pretty tough time proving all their income is clean to the government already. Crypto is popular online, however it is generally being used as a speculative commodity by itself and people expect to gain money just by holding it. If it was more like a currency that did not swing in price heavily from day to day then someone might come up with a reliable system to accept it.

I think once the regulations surrounding them gets settled, at least from a US perspective then they might add capability.  Where it makes sense in the beginning is poker.  Have a completely crypto related poker event.  Where pay in amount and prize amounts all in crypto, with the vig in cash.  It eliminates any market movement risk on their end.  Playing in crypto and getting paid in poker seems the only sensible route for them though because of the market price risk theft they won't want to carry.

I think someday they will but Bitcoin is just risky and volatile to be exact for physical casinos to completely latch into. Physical casinos are playing it smart not to depend only on crypto. If yes, then some casinos only implement crypto to a certain degree but most of the time it is very limited. Having said that, future is certainly bright for cryptos and casinos. It's not too far fetched to think physical casinos will shift to cryptos as long as its profitable and then they might go all in for adoption.

Well, volatility is not really a major concern if they know how to eliminate the risk of price volatility, crypto space is evolving, before it was really a problem but now that we already have a stable coin, it's easy to trade bitcoin since it has the biggest liquidity, so it's not a problem.

By the way, the use of cryptocurrency in a physical casino, even without KYC, will seriously damage the anonymity of the player - there are video cameras, face recognition systems, etc. everywhere. therefore, in the end, the casino will at least be able to link bitcoin wallets to certain people.

Physical Casino use chips so if ever they will implement cryptocurrency in there payment system, The transaction will be on the counter and obviously they will use payment solution for Crypto to Fiat convertion. So there will be no volatility issue in that case since they will just convert it on the spot.

one day they will definitely do that, physical casinos really love money, if crypto is adopted there is no reason they shouldn't add cryptocurrency options to their business.  sooner or later it is something that casino owners have to do as a form of following the trend.  and I'm sure the concept will not make it difficult for gambling players who want to use crypto to make it easier to deposit or withdraw.

This is another problem, in many countries bitcoin is recognized as an asset that you can buy and sell but it is not recognized as a currency that you can use in order to pay for products and services, which means that casinos cannot really legally accept bitcoin as a payment option, so even if a casino wants to do this because they want to give their clients the option of using cryptocurrencies to play at their installations if the regulation is not there then they have their hands tied up.

Before the pandemic/corona I often visited real/physical casinos, at that time Bitcoin was widely known, I thought so too, as the OP asked, at least....!

But I often chat with those who play and engage directly with real/physical casinos, their explanation makes sense to me.
They say that most of them are from business circles, they are very sensitive and aggressive, not easy to believe like fantasy, they are not afraid of government rules, however they prefer real on the table/professional and real, for them Bitcoin is not real in plain sight, vulnerable to payments, if you lose a bet, and they are mostly old and they like the real, don't like the imaginary, even though Bitcoin is real online, in real casino betting tiered when placing a bet, they do not like to take risks online transaction system, at the end of the story real/physical house casino/casino players prefer things on the table, not in wallets or exchanges, for that they are not allowed to bet with Bitcoin.

you sell Bitcoin and bring the money here, put it on the table, bet, it's more professional, someone said, (sorry, they are gamblers, words are very sensitive and against).

I haven't see or know any physical casino that accept crypto as one of their payment but I do see some fiat only casinos that started to adopt cryptocurrency as one of the payment they have. You can see some of the casino in this forum where they created their ann thread and some people said they didn't know the site because it is a fiat casino that just accepted crypto as one of their payment.

I am sure that in the future it will be possible to use cryptocurrencies to play in the casino just have to wait until the regulators will be able to prepare laws governing this area. Recently, more and more major global companies are interested in cryptocurrencies. This will give an impetus to the adoption of cryptocurrencies everywhere.

It is still illegal to operate brick-and-mortar Bitcoin casinos in the majority of jurisdictions where gambling is regulated. Most physical casinos don't even accept credit cards or smartphone-based payment systems. While you can use your credit card to deposit or buy chips, winnings are still paid out in cash. Online casinos, when compared to their land-based counterparts, have a huge advantage when it comes to payment methods, including the ability to pay and play with cryptocurrencies such as Bitcoin. In Las Vegas, however, gamblers can exchange their crypto for cash at bitcoin ATMs before heading out to their favorite casino. I know, it's not the perfect solution but it's better than nothing.

It remains to be seen whether or not physical casinos will accept crypto in the future. For now, we'll have to stick with their online counterparts.

actually they don't need adoption before doing this acceptance because Bitcoin is already making money now.
so accepting this will add money in their bags , and also opportunity for them to bag more bitcoin earlier than when the price comes huge.
actually with the popularity of bitcoin and cryptos now? i don't see any reason why they will need to deny the fact of accepting cryptos inside their business.

Maybe not now but that could happen in the future, especially if the government allow people to use crypto in their country. That can attract offline casinos to start integrating their system using blockchain and they will introduce to their members that at that time, they accept crypto be used for gamble. The online casino will be the earlier to adopt crypto to their casino because they are aware of it happening on the internet, so they do not want to be late to take advantage of using crypto.

I know it doesn't work like that, if they see it as an opportunity to increase their revenue, I don't think they will not find a way to integrate crypto in their system, and they know it's not easy as being a regulated casino, they also have to adopt with the crypto laws so they'll not face any problem with their operation.

Yeah, I remember that I have read already some countries' offline casinos started accepting cryptos and with lighting bitcoin, I guess there will be no delay may occur by waiting for network confirmations and most altcoins are having quicker blocks for instant confirmations to facilitate gamblers to start with even with their physical visits.

Plus, I read some casinos are allowing loading their wallet online prior to physical visit. This way they are wisely eliminating the hassles of scanning QR codes to addys and delays in network confirmations.

1. Everyone really loves money, that doesn’t really prove a point :D

2.There is a reason why casinos would want to avoid crypto. First, the legal ones will have to arrange rules in accordance with certain countries, and, if cryptocurrencies are banned there, there’s a high chance that the casino itself will lose a whole geographic sector due to that.
Second, casinos benefit from knowing their customers in the face, so to say, they offer bonuses, give special treatment, try to make sure that the client will remain loyal. And, in addition, reduce cheating by requiring KYC. Needless to say, with the full adoption of crypto and the idea of anonymity, all of that will be harder.

As for your second point, I am absolutely convince that at some point in the future there will be no way around accepting cryptocurrencies as well. Legally is an easy one, should crypto be prohibited or rather belong to a legal grey area, serious physical casinos would deny it. If it is officially allowed, they would certainly at some point allow for cryptos to be used. If you are a decently high net worth individual and you would prefer your bank to not know you just gambled big time, you could go for BTC, still do you KYC at the casino and either leave with more, less, or no Bitcoin again. I think for individuals who prefer a certain level of privacy, that'd be a reasonable point for a casino to in fact accept crypto. Crypto would also be much safer than cash in conjunction with KYC, no?

We are looking for the success of this huge adoption. It might be difficult to start knowing of some long delays on transactions confirmations that hold casinos to fully accept the system and this will give hassle to the gamblers but I believe they could find a solution to this. Maybe a mutual understanding between the gambler and the casino, and their option to be able to wait for a few minutes could help.
Anyways, this was just an option because if they are aware of the said delays, they can use fiat instead.

There is a huge possibility of this coming true in the future. The cryptocurrency pump that happened last year plus the multitudes of online casinos that mostly offer cryptocurrency prizes may force their physical counterparts to accept and reward their customers in the form of cryptocurrency someday. This offers numerous benefits for the bettor and the house since they would cut the need for greenbacks and cash rewards, because nobody wants to walk around the city unarmed with a bag of money with them. That would literally be a call for thieves and muggers to target you. There is a huge possibility of this happening but your explanation should at least explain more as to why this would happen. I would assume that by you saying that casinos love money, you mean that they see cryptocurrency gamblers as an untapped resource they must come after to expand their reaches and improve profitability. This wouldn't happen anytime soon though as drastic measures like this takes time and research before implemented, not to mention the risks of COVID-19 contraction being existent.

Absolutely.

I think that there will be increased integration between virtual and physical casinos as a matter of time, and not if.

Physical casino giants are struggling to secure business across the world due to this ongoing pandemic situation, and that has transferred wealth towards online casinos and increased the popularity of cryptos as the currency of choice for gamblers. This will only accelerate out of the pandemic as bitcoin gets adopted mainstream - there is no way around it for places on the Vegas Strip, Macau, etc.

Maybe in the near future, some of these physical casinos will allocate a specific area where you can play online and where crypto is already integrated in their payment system. It is very true that right now, online casinos are generating their income because a lot of gamblers opted for online gambling because of this pandemic. Some may have discovered crypto casinos during this period as crypto increased its popularity during this pandemic. We can see that there are so many online casinos that were created also during this time. In this forum alone, we have seen a lot of new casinos launched last year and up until now.

I imagine that they would likely start to accept cryptocurrency at some point in time as long as it keeps advancing along.  The fact that online casinos currently do accept bitcoin and some accepting many other types of cryptocurrencies, seems to be proof enough to me that they would eventually bring them on as a payment method.  You would have to think that they are already starting to look in to doing this already.  I think they would be crazy to ignore another way for players to play, which means a bigger bottom line for them.

It's not like the casino isn't already using electricity and internet though... Setting up the systems that they need to accept Crypto would take some costs to be fulfilled, but it's a one-time fee at most, and casinos could surely afford that. Maybe a scanner code of sorts that would automatically deduct the funds they used once leaving the table or something. Again, a one-time cost that they'd have to shoulder, but it does improve customer experience if they're going to accept crypto.

It's going to be a big lift if this happens, but it's quite expensive and risky if they do this because they need to set up the system and the volatility is another issue, but this is a revolution in the offline casino industry if one company dare to do this, let's see in the coming years if one company dare to set up a casino that can accept Cryptocurrency and what will be its impact.

Maybe the offline casino that lived in the country that allows gambling will try it later as that casino will not have a problem with their government and their regulations. But still, it needs more research from the offline casino before they implement their payment system because they will see the volatility of the crypto price can affect their business. But all in all, that can give them more profit once they start adding crypto to their payment because they can hold the crypto and only sell it when the price increases. That can bring a new experience for offline gamblers because they will see that using crypto will be different than using fiat money to gamble.

For physical casinos to accept crypto automatically means they have to create an exchange which might either be in paper format or digital but certainly an exchange has to be created for both fiat and crypto exchanges. I don't think it will really be convenient for physical casinos to accept crypto except it becomes legally approved by entire world as some nation's will likely sieze licences of operators who decide to accept crypto against the regulations of the state.

I believe this as well, however I am not really sure why this is not happening, after all we know that there is a strong gambling industry in the market of cryptocurrencies so it is to be expected that this is eventually transferred to physical casinos as well, and the fact that this has not happened is puzzling, maybe as we speculate it has to do with the regulations, but maybe it has to do with the fact that for a physical casino to adopt bitcoin then they will need to have a lot of gamblers interested in bitcoin be near them, something that is difficult as the concentration of bitcoin users in many areas is quite low.

In fact, there is nothing surprising here - the demand for payments with cryptocurrencies is low, so casinos (like other services) are in no hurry to introduce such an option when accepting payments. No matter how much crypto enthusiasts talk about mass adoption, but people consciously choose fiat and bank cards because in everyday life they are more convenient in every sense.

Why not everyone is switching to crypto and the next future is of digital currencies and they will implement crypto either they will make their own coin or they will accept others as payments and vice versa.

Regards

It will take time before these traditional casinos will accept crypto in their payment system.
For one, it depends on the regulatory board of their country. They need to abide their laws and regulations.
So injecting crypto in their system, will be a new one in their book. And formulating rules will take time.
Maybe, we will see this to reality like in El Salvador, once they accepted crypto in their financial system.
But still, it will take time for these offline casinos to draft protocols on how to accept crypto in their system.

As we continue to grow, there’s a higher possibility for this one but not now because many are still dealing with the pandemic, and they can’t take the risk for now because of that. Cryptocurrency is a big thing already on any market, we made a good exposure and I’m sure casinos are considering this one. Cryptocurrency will be one of the major options in the future.

If cryptocurrencies are said to be the future of money then they need to find a way to integrate it into their platforms to grow their client base but the only thing holding them back is state regulation.
Most of these casinos are excited to offer it to their customers but their state laws don't allow and they will not risk their license for the sake of accepting cryptocurrencies. But once laws give a go ahead all casinos will be out there advertising their new payment alternatives to try win new customers to their business.

Physical casino owners are not holding back but rather there's no demand for it since other payment methods are more fast and quick.

In physical casinos, they can play with their cash right away 1:1 without worrying about the volatility. No need to purchase crypto or convert it. In the table room, chips can be bought instantly with credit cards which most big gamblers have.

Crypto is a good payment method but fiat payment whether physical or online are still much better in terms of transaction speed.

You shouldn't pay attention to nonsense (like technical details or laws) but to demand. If there is a demand, then the technical details are quickly resolved and the legal regulation of new activities quickly appears.
What advantage will the average casino visitor get when using cryptocurrency? Personally, I see no reason (and hence the demand for such an option) why it would be beneficial to him.

The question is why physical casino need to accept crypto when they can easily collect funds in fiat. There will be number of issues if they start accepting crypto currencies. First you need to have proper infrastructure and secondly, people will be waiting in queue as bitcoin payments takes time in confirmations etc.

They do not need they wait for the demand if they want to adopt crypto currency as an alternative payment method.
What they need to do is to look for the possible effects, whether it will bring good effects for their gambling business or not.


If the volatility is the main problem, simply accept stable coins such as USDT.
Indeed of the weaknesses of crypto is that not all gamblers have crypto in their wallet all the time while they always own fiat money.
But if the main purpose of accepting crypto is just for an alternative payment method, casinos and players should not be worry as they can still play with fiat if they do not want to buy crypto first.

In a way we are already there, after all there are thousands of coins in the market and those are just the ones that have some modest success, during the whole history of this market there have been probably tens of thousands of coins and despite all of that by far the coin that people prefer to use is bitcoin, so I'm not really worried about the future that you are pointing out because it's already here and despite all of that people are still selecting bitcoin as the coin that they prefer.

We are already heading there even though its not really full game integrated but rather on payment options which had been already been operational for a while now. Accepting crypto is already happening even though

it isnt possible on some aspects specially to those people who had been talking about crypto into such game directly or literally.If we do consider or mind off on how it would be done then its a bit complicated imho

and not just a thing that could really be that implemented easily.So its better not to expect that much that it would happen someday because it would just frustrate you out.

I do not think you will place bets with crypto in a physical casino but it will be like you do now you deposit real money and then they give you chips. I think in the future there will be more casinos allowing you to deposit with Bitcoin and get chips in return. They will have to accept Bitcoin if it stays relevant in the next couple of years because otherwise they will lose money.

This thing will not happen if government will not accept bitcoin as their legal tender since physical always follow the government ruling but also majority of traditional casino doesn't know about bitcoin so I expect also that they will not accept bitcoin to use it on their casinos. But let see maybe in future once bitcoin will be notice as good alternative currency and government will vouch its legality maybe this bitcoin acceptance on casino or even everywhere will happen.

Physical casinos are bound by government regulations, because they cannot accept crypto arbitrarily without government approval. Especially if
the government has not legalized cryptocurrencies, it is definitely physically casinos impossible for accept crypto. Moreover, there is not yet a high
enough demand from gamblers for physical casinos to accept crypto, so the physical casino does think accepting crypto is not something to do
right now. I also agree that there are still many physical casinos who don't understand cryptocurrency, so it's true that physical casinos won't
accept something they don't understand. But anything can change in the future, if crypto is legalized more and more in many countries and
governments start accepting crypto as a payment alternative, it will make the physical casino accept crypto too.

Gambling industry is very big. As more people are getting into the usage of cryptocurrencies, we can see the acceptance of these cryptocurrencies on physical casinos. Whatever we pay we are gonna play with chips that's been bought with cryptocurrency/fiat. With online casinos we play directly whereas with physical casinos chips need to be bought and played. So, we can expect this happen and there might be some physical casinos doing it at present.

This is totally wrong. Physical casinos can add crypto as their payment method without the government's approval. It's the same as other business that accepts crypto as their payment method.

There's no law related to that. The tax will always be the same.


In the first place, why that casino will add crypto if it's not legal in that country. Casinos won't even end up making a plan regarding that.

That's a good idea and yes there's a possibility that soon they might accept cryptocurrency or probably have their own cryptocurrency that you can use to their own casino it would be a cashless or chipless casino it's not impossible because of the current pandemic that we have.

Crypto can be as fast as traditional payment processors if it scales enough to meet the world's demands. Some blockchain networks are highly scalable, making them a perfect choice for day-to-day payments. With stablecoins in play, I don't see any reason why casinos would avoid crypto in the first place. I think the main reason why physical casinos are away from crypto is because of fear of a government crackdown. After all, they're required to collect personally identifiable information from gamblers (KYC/AML). Crypto goes against this as it enables truly-anonymous (sort of) payments. Gambling in a completely anonymous manner could be deemed illegal by the government. Unless the crypto/Blockchain space becomes more regulated, Fiat will remain as the number one currency of choice for gambling. I wouldn't worry about this since we already have online gambling sites which accept crypto for gambling. Just my opinion :)

I think that is precisely what people are referring to, no one is really expecting for regular casinos to accept bets inside their installations with bitcoin, maybe an exception could be made for sport bets but for the rest of the games you are going to need to use chips, and this is because this is a psychological trick, the casinos use chips instead of money because that way people do not feel like they are betting actual money and as such they have the tendency to gamble more so it is obvious they are going to do the same with bitcoin.

Though they're making good from the usage of paper currency usage, it is the need to go along with the growing technology. As a result surely these casinos will surely adopt and accept cryptocurrency into their casino business. Already people have started using it long ago online and now the plans of the physical casinos will be to bring those online users towards the real world casinos.

Growing technology? Physical casinos transactions are mostly done now thru credit cards or online payments. Gamblers no need to bring their physical cash.

Don't tell me just because it physical casino you think guys that transactions were done by paper money? No. Growing technology doesn't mean physical casinos should accept crypto. There are lots of fast and quick payment methods compare to crypto that they currently use.

You have a valid point here. A lot of gamblers are not comfortable carrying actual cash inside the casino.
There are many digital ways now how to spend money inside the casino like debit/credit cards.
Crypto inside physical casino is still not seen, but only outside its premises. Like Bitcoin ATMs outside Vegas casinos.
However, it may soon be possible in countries like El Salvador. But it is too early to tell.

They are only going to adopt when gamblers demand it. Otherwise, I do not see any reason for them to move from Fiat to Crypto. As you said they are making a ton of Fiat money and those who gamble there are not okay to use Fiat. They are not bothered about privacy or government, they are there to play and enjoy. I do not think they use cryptocurrencies unless the country where they operate starts accepting cryptocurrency as a legal tender. At the moment there are a few countries that have done that, maybe in the future.

It depends on which country you are talking about . in some countries the regulation of crypto is clear that crypto cannot be used as payment. if caught by the government and their business is running legally in the country, there will definitely be problems for them later for violating government rules and policies.

I don't see any contradiction if they're simply going to adopt and accept deposits and payments with cryptocurrencies.

In fact, most of these physical casinos are aware of the existence of online casinos that are accepting cryptocurrencies. They are dealt with adoption and it's an inevitable thing to happen for most of them.

That's what I think because cryptos are in mainstream.

Regulation does differ on each country thats why we would see different takings or decisions in regards to this matter.If we do talk about acceptance of crypto payments then there are already some establishments or casinos been accepting crypto payments but if we do talk about integration into games itself or literally playing or earning crypto into those machines then it isnt really possible nowadays.
We wont know on what would happen in the future and lets see if there would be some probabilities on such changes but of course it would really be needing first some recognition.

Actually, no.

In most countries there is absolutely nothing wrong in terms of accepting crypto. And after all, who can stop you if you wanted to accept crypto as a form of payment for private transactions?

Regulations of crypto generally is imposed on financial institutions, not retail venues. I don't think that there will be a huge regulatory concern over casinos accepting crypto per se, so long as the casinos abide by the KYC/AML legislations - there will likely be a bigger problem with accepting/paying winnings in cash.

If they are under regulation, they need to require the KYC to their clients, but crypto is decentralized while fiat is not, that's why some countries have more strict regulation on crypto so they can really trace the origin of the transaction as that is need for Anti Money Laundering reporting.

They need to add strict rules but both ends with KYC/AML legislations as long as the casino provide this info business will continue to run, t's just an additional job for those who will accept crypto since decentralizations is really hard to regulate without adding KYC, money laundering will keep haunting them from the government.

More on the casino owner's side. Before they accept and adopt the system, they need to comply with every government rule.

Yeah, that defeats the purpose of cryptocurrencies if they're going to ask for KYC. But it's a physical casino so that's to be expected that they will implement that whether it's going to be fiat or crypto.

There has been a lot of news that I've watched in the past that there were transactions happening in the premises of the physical casinos and these deals include money laundering. It happens for most physical casinos and it involves every possible person that migrates just to have this purpose of their arrival.

That's correct because there's a big penalty for the certain violation, and ignorance of the law excuses no one, so being a business operators, they need to be fully educated with the government laws in running a physical casinos that accepts both fiat and crypto.

I still think that crypto adoption in physical casinos requires providers to comply with KYC/AML rules for gamblers for the purpose of preventing cases of money laundering and other illegal transaction. This may be a pros and cons among gamblers as not all of them will be willing to provide personal data just because they want to gamble in a physical casino.

Does KYC/AML for those using crypto in physical casino make sense for those of you who gamble at physical casinos a lot?

The question is, do we like crypto to be regulated? if yes, then all transactions related to cryptocurrency will be regulated and regulations comes with a lot of rules, the most basic one is KYC for AMLC requirement.

In my mind, maybe it will not far from payment. There are no physical casino in my country, but seeing how casino works maybe in future they allow we to convert our money to chip with cryptocurrency, either with convert chips to money via cryptocurrency that we can save directly in our mobile phone. Maybe in big countries who have physical casino in theirs, only need cryptocurrency can be used as digital payment same with fiat.

Might be, they might miss out the real fun from betting with physical currencies and having hard time in managing as an escrow when crypto currencies are accepted and should be responsible for legal and genuine transactions. But yes, can bring in ambiances and systems to easily handle in these tough thought exercises. I am sure, slowly they would start adapting crypto so when mass adaption happens.

If and only if the country have already accepted cryptocurrency as a normal payment method and most of the establishments are now accepting crypto. I think that's the best possible situation where even a physical casino will now accept crypto to bet. But I guess it'll take a lot of time before it happens since some are people are still into fiat and crypto are being used as an investment asset only.

I have a friend who is an entrepreneur and who has a casino in Colombia, I know him because I have made some appraisals, and I commented to him about what he thought about the issue of online casinos and if he was willing to accept a possible alliance with a casino and That he put a PC so that people could play and he did not refuse, in fact his response was very receptive, although he always emphasized that he has to generate profit for him too, but that they have never made that kind of proposal, which in these times You cannot deny technology and everything that concerns it.

God I hope that they accept it someday, I feel like they're progressive in terms of new technology so I think that they will consider and finally add them someday that kind of payment system. They can probably multiply their profit because they can just store the crypto that they accept since they still profit a lot without the crypto.

Well, fiat casinos are obligated to follow the regulations of the country where they are operating! It's why before casinos a country should regulate Bitcoin usage in some way first, that can open the door for casinos to accept Bitcoin!
I agree with you, it will take a lot of time before this happens, but I guess some casinos in some countries will do it sooner than others, of course! Some countries are progressive!

It will, but I'm not sure what the fees will be if they accept it, and hopefully they'll be able to catch up when the price spikes unexpectedly. This is a benefit to those who have crypto and will have no effect on those who do not, but can you imagine the innovation that most casinos are putting into technology that could lead to success? We believe this will happen in the future because, as we all know, cryptocurrency is becoming increasingly popular, and there is no reason why they will not accept it as a form of payment.

Whether physical casinos is going to accept crypto or not, it has no effects for me as a gambler who live in a country where gambling is something prohibited.
The existence of online casinos (both fiat and crypto) is more than enough for me.
My hope for now is about the chance for me to see a new or a change in local law where gambling is something legal.

Some day physical casinos will but it would be a bit manipulative for the start and their exchange wouldn't be reliable. It will operate more like the normal fiat physical casinos demanding for KYC verification and since it's crypto so many other verification forfieting the privacy associated with crypto currency even ready to hand the gambler over to government authorities in cases where gambling funds were gotten through fraud

They will accept it someday after the government accept it. They can only prepare their system to integrate with crypto and are just waiting for the next update from the government. If they can expand their business into the internet and build a new interface using the internet, maybe they can use crypto as a trial for their members and try to promote in many places to attract more people to test their payment system, which integrates with crypto. They will multiply their profit if they can use crypto as an asset after getting so many coins from gamblers who use it for gambling.

If the government legalized crypto currency in the country, of course the possibility of crypto being one of the payments for physical casinos could happen, but of course users would prefer to use fiat currency when playing at physical casinos because it is more practical in nature, except for gamblers, who have a lot of capital, of course, it will be very risky to bring a lot of money so maybe they will prefer to use crypto currency later.

No matter what circumstances may be, it is always a bad idea to run around with pockets full of cash. That is why most gamblers carry their credit/debit cards instead and usually prefer to use ATMs before the actual game. As saying goes, when it comes to gambling cash is a king. However, cryptocurrency can also be withdrawn via crypto ATMs, so I don't see any problem if there is a place nearby where I can quickly exchange my crypto.

It wouldn't be too bizarre idea since brick and mortar casinos are copying the best practices from online all the time. Maybe bitcoin
casinos (https://list.casino/bitcoin-casinos/) are a thing in land based gambling within a decade or two.  :o

It's more easy to bring your card and withdraw to an ATM nearby than bringing your wallets that full of cash. There are gamblers who also have credits those VIPs which can play without bringing out anything.

And with that argument above, crypto, once being recognized by the government, more businesses will cater it and adopt the system.

It's easier to withdraw your money if you understand how crypto works. You can simply go bringing nothing out from the casino, aside from the withdraw crypto though::)

If we are talking about large amounts of cash, then of course there is a risk, but in any developed country it is minimal, since the likelihood that criminals are unlikely to have X-ray vision and there is no point in robbing everyone in a row. But if we use cryptocurrency in large quantities, then the risks increase, since it is quite easy to trace the entire path of money through the blockchain - I do not think that casino visitors will be pleased to think that someone (even the casino staff) will be able to track their money.

Even it's not legalized by any country, casinos can easily adapt it as long as there's no law that prohibits the action. The casino is free to adopt cryptocurrencies as part of their business as long as they're going to have a legal basis on it and it doesn't conflict with their current laws.
For the gamblers that own cryptocurrencies, they would like to spend it on and have the experience of how it goes in the physical casinos using cryptocurrencies although there's not really that much change on it except paying in crypto.