[2017-03-04]Why You Won’t Be Using Bitcoin in a US Casino Anytime Soon

[TravelMug]

As evidenced by a Google search for 'bitcoin casino', bitcoins and gambling go together like two pedals on the same bike.

Bitcoin’s appeal as a cheap, efficient and low-key means of transmitting money has made it a hit among both online bettors and operators seeking reduced fees, lower chargeback risk and a way around legacy payment systems.

But as of now, these benefits mainly apply to online casinos operating in jurisdictions with little or no regulatory oversight.

While there has been some movement in Curacao, the UK and Malta recently, the use of cryptocurrencies in a legal and strongly-regulated gambling environment like the US still remains largely at the conceptual stage.

Because of heavy regulation and a desire among the gaming industry and its regulators to protect the industry's slowly improving public image, bitcoin appears to be years away from earning approval for use in either physical or online casinos in the US.

Why You Won’t Be Using Bitcoin in a US Casino Anytime Soon

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[Kprawn]

They do not have a choice, if they do not adapt to the need... then they will have to close their doors in the future. These brick n Mortar casinos

have huge overheads and expenses and people with online casinos have almost none. How can they compete with online Bitcoin casinos? The

"gamblers" will soon realize that Bitcoin gambling sites offer more convenience and more payouts and they will stop visiting these brick n mortar

casinos. Bitcoin will disrupt that scene too.... just wait and see. 

[arcanaaerobics]

This is new news to me. But I do not blame them because bitcoin would be competition with what almost all have in their monetary system, in their own casino tokens.

[Junko]

Maybe not anytime soon, but in time...

... in time, other brick and mortar casino regions around the world such as Maccau, Europe, Caribbean, Latin America, etc. may be using bitcoin and US casinos/US gambling commissions may have to adapt and start accepting bitcoins in order stay competitive/not lose out.

... in time, the US dollar collapses and in general, bitcoin becomes widely accepted and US casinos/US gambling commissions, again must adapt.

... in time US gambling commissions realize a vision whereby bitcoin represents an opportunity to get a leg up on on the competition. For example, the New Jersey or New York Gaming Commission decides it's time to make a bold move and allow their casinos to accept bitcoin for gambling in order to jump start their stagnant revenues compared to that of Las Vegas (just a hypothetical example as I have no idea what the gambling revenues for New York or New Jersey are like, but I imagine they are nothing compared to Las Vegas).

[aso118]

Actually, it is difficult to fathom country restrictions on online casinos. A US-based casino could easily incorporate an online casino and register it in Timbuktu. It then really doesn't make a difference.
 

[Iranus]

Well people can use their Bitcoin in online casinos quite comfortably.  It's unlikely that the Government is going to do anything to people just for spending Bitcoin online and spending online is so much more convenient and often better than going to brick and mortar casinos.

As for the issue of registry, that's online a problem for small casinos - any casino with a decent size of investment can just register it somewhere else and give access to US citizens.