Casino in Las Vegas Accepting bitcoin - Land based and huge sign infront!

[Lionidas]

Bitcoin has finally made it's mark in the largest place on earth with the most land based casinos per square feet.


This is the first one but not the last.
This is beginning of the exposure bitcoin needed to show that gambling, in physical sites and not just for online ones,
BTC is a true contender for those gambler's dollars.

[Wendigo]

Oh that's so cool! Does that mean they will pay winners their money in Bitcoin too? Or do they accept only Bitcoin deposits? If I am in Las Vegas someday I will make sure to pop in there haha 

[leonair]

What do you really mean by

Bitcoin has finally made it's mark in the largest place on earth with the most land based casinos per square feet.

I think Bitcoin are getting widely accepted all around the world as a legal tender and even in local gambling casinos but I didn't saw yet any Bitcoin Casino available so maybe you mean there are selected Casinos that are now accepting Bitcoin as a bet, or am I wrong.

[BillCoin]

Hi that's really cool, but old news.
Here is the official statement from the casino operators at Jan 2014:

http://www.goldengatecasino.com/bitcoin/

Seems like it is the first physical casino to accept bitcoin, there is still no one who can confirms if they still accept bitcoin or if they let you withdraw it.

[leowonderful]

I actually read about this on r/Bitcoin today, and I assume that's where you also found it. Post on Reddit can be found here.

From what I can tell in the Reddit post, there's another casino in the Las Vegas area that also accepts BTC but they only accept it as payment for the hotel and not for any actual gaming. We're getting there, adoption in any form is good!

[stomachgrowls]

Hi that's really cool, but old news.
Here is the official statement from the casino operators at Jan 2014:

http://www.goldengatecasino.com/bitcoin/

Seems like it is the first physical casino to accept bitcoin, there is still no one who can confirms if they still accept bitcoin or if they let you withdraw it.

Checking out the link:

LAS VEGAS – January 21, 2014 – The D Las Vegas Casino Hotel and Golden Gate Hotel & Casino located in downtown Las Vegas will become the first casino properties to accept Bitcoin. The D and Golden Gate will begin accepting the popular digital currency beginning Wednesday, Jan. 22.

It is indeed since 2014 for Golden gate to accept bitcoin which this is a late news but well no matter which year we would able to see how bitcoin adoption is growing.

[eternalgloom]

This is indeed old news, but I've found another article that mentions another casino accepting Bitcoin, The D.

https://www.gamblingsites.com/blog/vegas-casinos-accept-bitcoin-64554/

Though, you can pay with Bitcoin directly at the tables, the have a Bitcoin ATM in their halls.
Doesn't appear that you can directly buy chips with Bitcoin, but I could be misreading it.

[djsugar]

That's a big news! I am actually travelling to the states in August and would love to give this casino a try. I do have a question though, how is the casino going to pay our rewards? Will that be in FIAT or in Bitcoin itself?

Every time an outlet begins accepting bitcoin as payment method, I get more and more optimistic. I am anxiously awaiting for the time when I can use bitcoin more as a currency than as an asset.

[Kprawn]

The Brick n Mortar Casinos will have to do something to keep up with the times or they will lose the battle against all the

online gambling sites. I think it must be 100% more profitable to run a online gambling site, than these expensive Brick n

Mortar sites. Has anyone done some research on this yet?

[Baofeng]

Oh that's so cool! Does that mean they will pay winners their money in Bitcoin too? Or do they accept only Bitcoin deposits? If I am in Las Vegas someday I will make sure to pop in there haha 

It bring backs memories of me when I was able to walk on Las Vegas and play on their casino. hahaha. Yeah seems pretty welcoming for all of us gamblers to finally see bitcoin being recognized in the gambling capital in the US if not the entire world.

That's a big news! I am actually travelling to the states in August and would love to give this casino a try. I do have a question though, how is the casino going to pay our rewards? Will that be in FIAT or in Bitcoin itself?

Every time an outlet begins accepting bitcoin as payment method, I get more and more optimistic. I am anxiously awaiting for the time when I can use bitcoin more as a currency than as an asset.

Dude one way to find out is to try casino's that accepts bitcoin and see how it goes. hehehehe.

[JL421]

Hell yeah this is huge seeing the future of this i see where land based casinos are taking this to if one makes a changes slowly everyone starts adopting it but governments might have problem from this because people might be trying to convert there illegal funds and gamble it away or even legalize there wrong funds otherwise this is a huge move

[Jating]

Hell yeah this is huge seeing the future of this i see where land based casinos are taking this to if one makes a changes slowly everyone starts adopting it but governments might have problem from this because people might be trying to convert there illegal funds and gamble it away or even legalize there wrong funds otherwise this is a huge move

Well, it you can't beat them, joined them. Land based casino's know that bitcoin gambling industry is already a multi billion dollar and competing against them. So it makes sense for them to at least accept it as deposits in their land base so that it can attract more gamblers, so more gamblers = more money for the house.

Its gonna be exciting for the next 2 years if another land based casino will follow suit and it means that bitcoin is slowly sipping in the market and the adoption that we are looking for is much closer that we think.

[JL421]

Hell yeah this is huge seeing the future of this i see where land based casinos are taking this to if one makes a changes slowly everyone starts adopting it but governments might have problem from this because people might be trying to convert there illegal funds and gamble it away or even legalize there wrong funds otherwise this is a huge move

Well, it you can't beat them, joined them. Land based casino's know that bitcoin gambling industry is already a multi billion dollar and competing against them. So it makes sense for them to at least accept it as deposits in their land base so that it can attract more gamblers, so more gamblers = more money for the house.

Its gonna be exciting for the next 2 years if another land based casino will follow suit and it means that bitcoin is slowly sipping in the market and the adoption that we are looking for is much closer that we think.

It is surely going to be a interesting year though i would agree with all these companies and casinos accepting bitcoin is purely for there benefit they are surely not implementing bitcoin so that people get benefited from them. Eventually they'll have a stock of bitcoin also now as they are obviously not fair so more money for the owners

[Hydrogen]

In the competitive world of Las Vegas gambling the casinos with the best adaptations survive and thrive while casinos which stagnate and fail to evolve wind up on the endangered list. Offering bitcoin support has to give them a significant advantage over competition via including an entire new demographic with money to burn. I think the same precedent applies to other businesses. Those who offer bitcoin(and crypto) support will thrive, while those who hesitate will fall behind.

On the downside, I would guess they don't offer bitcoin withdrawal. They have a system in place to report earnings in excess of $10,000 to the US government for tax purposes(and also supposedly a system to detect attempts @ tax evasion). Their system utilizes fiat and so I would guess cash out is in dollars only.

[Lionidas]

In the competitive world of Las Vegas gambling the casinos with the best adaptations survive and thrive while casinos which stagnate and fail to evolve wind up on the endangered list. Offering bitcoin support has to give them a significant advantage over competition via including an entire new demographic with money to burn. I think the same precedent applies to other businesses. Those who offer bitcoin(and crypto) support will thrive, while those who hesitate will fall behind.

On the downside, I would guess they don't offer bitcoin withdrawal. They have a system in place to report earnings in excess of $10,000 to the US government for tax purposes(and also supposedly a system to detect attempts @ tax evasion). Their system utilizes fiat and so I would guess cash out is in dollars only.

No they do not, at the time of their announcement which was back in 2014, (had to search for that post with an outdated picture of a small ticker like sign on the front of the casino back then - Notice the updated picture I posted above which is highly visible and catches anyones attention of passing by) allow gambling with or withdrawals back into the form of cryptocurrency.
They allow it to be used for hotel payment, in the gift shop for purchases and at the restaurant for your meals.
But that is a start! No?
It could happen in the future once they get to figure out a way to integrate into a casino token and then transfer it into fiat money for withdrawals.
They have been doing this for decades and I would like to think that the land based casinos lay the framework for cryptocurrency with their token based usage already in their casinos.
You buy the tokens with your cash and use them in the slots(casino version of quarters) and on the tables (poker chips) then once your done and ready to leave you go to the exchange counter and get your fiat money back for how many tokens you have left.
Genius!

[Juggy777]

This is a huge development I can't believe I missed this news. Now gamblers can carry more money but without worry of carrying them and if you win huge, imagine getting it transferred in your wallet this is amazing. Has anyone tried it, do they credit after first transaction, do they exchange at preev rates? Any other hidden information.

[Don Pedro Dinero]

I suppose that can be used for small money laundering. Like someone going with his undeclared bitcoins, playing low risk bets with bitcoin (like black or red) and cashing out less than $10,000 dollars. If that is done by a group of people and/or in different casinos it can become a considerable amount.

[Pursuer]

this is great, thanks for sharing the picture here. I have always wondered when the real land-based casinos are going to start accepting bitcoin and start competing with all these online gambling sites that are already doing it and have taken a lot of their customers.

On the downside, I would guess they don't offer bitcoin withdrawal. They have a system in place to report earnings in excess of $10,000 to the US government for tax purposes(and also supposedly a system to detect attempts @ tax evasion). Their system utilizes fiat and so I would guess cash out is in dollars only.

they will always have a much harder time fighting tax evasion with people who are using cash in their casinos and don't even leave a trace behind! with bitcoin there will at least be a transaction (a trace) on the blockchain for the whole world to see

[Bitinity]

I suppose that can be used for small money laundering. Like someone going with his undeclared bitcoins, playing low risk bets with bitcoin (like black or red) and cashing out less than $10,000 dollars. If that is done by a group of people and/or in different casinos it can become a considerable amount.

Why do they need to go to land based casino for money laundering purpose? I think it will be so risky for them to do so, the casino might have a special term to avoid money laundering so I think there is no chance for any people to use land based casino for money laundering.

[aencarnaci]

This is indeed old news, but I've found another article that mentions another casino accepting Bitcoin, The D.

https://www.gamblingsites.com/blog/vegas-casinos-accept-bitcoin-64554/

Though, you can pay with Bitcoin directly at the tables, the have a Bitcoin ATM in their halls.
Doesn't appear that you can directly buy chips with Bitcoin, but I could be misreading it.

Regular casinos are going to accept bitcoin because the gamblers will be safe during playing and there will no threat to their money of robbing and looting. This is good decision for only gamblers. Those who do not gamble and have nothing to do with casinos do not interested in this news because they don’t to waste their money and time in casinos and gambling.