Bitcoin Exchange IN CASINO

[Local_exchange_BKK]

Hi there.

I need your help..

I am going to exchange BTC at casino.
I had a lot of talk with hotel officials.
They did not know bitcoin.
They ask how the exchange will help the hotel.

How is it best for me to talk to them?

I do not get a clear answer.
I hope you can help me.

[game-protect]

To what will you exchange BTC and at what casino?

[ralle14]

It's hard to understand what you're trying to say here.

I am going to exchange BTC at casino.

You meant by launching an exchange? Why not just launch it on your own?  or is it going to be a Bitcoin ATM ?

I had a lot of talk with hotel officials.
They did not know bitcoin.
They ask how the exchange will help the hotel.

An exchange could help the hotel by quickly converting the bitcoins of their customers in to cash. The cons in launching an exchange at their hotel/casino is that you don't know if there's a demand for it since none of the officials that you talked with doesn't know anything about Bitcoin.  

[leowonderful]

BTC to Fiat ATM machines could be a viable option; I find that such machines are usually pretty successful as long as the fees on the machines aren't too high and both buy and sell orders are accepted. They do cost a bit initially, but the fees on the machines should pay off the cost of the ATM eventually, and the ATM should get decent traffic at a casino, perfect for people trying to change their cryptocurrency into fiat cash to gamble.

[nydiacaskey01]

Are planning to set up a brick and mortar Bitcoin exchange in a traditional casino like a foreign exchanger set up? If you plan to push for this exchange you need to conduct a study on your market. How many will use your service. I don't there's a lot since anyone who holds Bitcoin would rather use it to an online casino same with booking a hotel, there's a lot of them out there already.

[adaseb]

Casinos always have tons of ATMs everywhere because they want you to withdraw your money, because that is how they make their profits.

When BTC went to $20K and was all over the news, the casinos could of adapted and included some BTC ATMs to make even more profits. However this never happened and I am guessing its due to regulations and what-not with the gambling industry.

I am not sure what country the original poster resides in but most likely this isn't possible in USA. Maybe would work for some smaller country.

[swogerino]

You just gave every casino owner here a good idea, to implement an exchange inside their offline or online casino, online is easier I think.

I would love this option for example now that the price of bitcoin is down I want to exchange it for Litecoin within inside the casino and play with litecoin, it would be easier to multiply the money with litecoin by playing sport bets and choosing a minimum of 1 litecoin for bet.

Even at offline casinos which I believe this question is intended , you should explain them easy steps to converting with the lowest amount of steps.

[freedomgo]

Don't make things difficult for you and for the casino, when they are not accepting crypto then you should pay with cash.
In terms of trading your cash to btc or vise versa, that's a different story, actually if you have good education about crypto, you will find
reputable online casinos here which will give you a convenience to gamble if you really like to use bitcoin in gambling.

[mOgliE]

When BTC went to $20K and was all over the news, the casinos could of adapted and included some BTC ATMs to make even more profits. However this never happened and I am guessing its due to regulations and what-not with the gambling industry.

You know I really have 0 idea of why BTC ATMs are extremely developped and sometimes barely even exist.

It appears that in US there are actually BTC ATMs in big cities, but in Europe you can't find any even in the capitals! There are maybe 5 ATMs in Paris and 10 in London and that's all xD

Don't know why, if it's linked to regulation or what.

[avikz]

Hi there.

I need your help..

I am going to exchange BTC at casino.
I had a lot of talk with hotel officials.
They did not know bitcoin.
They ask how the exchange will help the hotel.

How is it best for me to talk to them?

I do not get a clear answer.
I hope you can help me.

The hotel casinos will have some regulatory burden due to which they will be unable to accept bitcoin and give you cash against it. If you really want to visit a casino, better use a platform like localbitcoins and exchange your bitcoins for cash first and then use that cash in the casino. That makes more sense instead of making them understand about bitcoin because it is really hard for a layman to quickly understand the facility and feature of a cryptocurrency!

[Betwrong]

~
They ask how the exchange will help the hotel.

How is it best for me to talk to them?
~

A hotel with a Bitcoin ATM is surely more attractive to visitors than a hotel without one. Normally people are reluctant to do something for the first time ever, so you should tell them that they won't be the first. There are now over 3,000 Bitcoin ATMs worldwide, and some of them are located in hotels. For example, the 4-star Flemings Conferance Hotel in Vienna, Austria, installed a Bitcoin ATM on October 2 this year. There is a BTC ATM at Hlemmur Square Hotel in Reykjavik, Iceland, and there is another one in Metropolitan Hotel in Sydney, Australia, and so on. Also, maybe it's worth mentioning that there are over 70 Bitcoin ATMs in Las Vegas at the moment.

[eternalgloom]

~
They ask how the exchange will help the hotel.

How is it best for me to talk to them?
~

A hotel with a Bitcoin ATM is surely more attractive to visitors than a hotel without one. Normally people are reluctant to do something for the first time ever, so you should tell them that they won't be the first. There are now over 3,000 Bitcoin ATMs worldwide, and some of them are located in hotels. For example, the 4-star Flemings Conferance Hotel in Vienna, Austria, installed a Bitcoin ATM on October 2 this year. There is a BTC ATM at Hlemmur Square Hotel in Reykjavik, Iceland, and there is another one in Metropolitan Hotel in Sydney, Australia, and so on. Also, maybe it's worth mentioning that there are over 70 Bitcoin ATMs in Las Vegas at the moment.

I don't know if it makes that much of a difference in customer satisfaction really. I mean, you have to consider the cost of such an atm and the possible profit that's going to be made with it.
I really don't think they're used quite enough to consider investing into an ATM, but I could be wrong here.

Do you know what kind of volume these existing Bitcoin ATMs have?

[YuginKadoya]

If you are talking about a CASINO that doesn't know about bitcoin as a payment then you can not blame them if they don't realize the greatness of bitcoin and another cryptocurrency, Well you don't have to explain to them about it because they will just get confused over what you are saying,

I really think that all you need to do is to exchange your bitcoin with fiat, If there are bitcoin ATM on your place then you are lucky enough to exchange it there, Or if there are Banks that lets you exchange your bitcoin to Fiat in an instant, or go to a remittance center to make an exchange, I really think there are many ways you can exchange your bitcoin to FIAT that you need to explore.

[milewilda]

Hi there.

I need your help..

I am going to exchange BTC at casino.
I had a lot of talk with hotel officials.
They did not know bitcoin.
They ask how the exchange will help the hotel.

How is it best for me to talk to them?

I do not get a clear answer.
I hope you can help me.

First of all since they dont know about Bitcoin then be sure you do have the idea on how to explain to them about it. Might be hard at first but if you do have exact knowledge on what bitcoin is then this thing wont really be a problem.
Next, give them some links or sources about how bitcoin transactions happens and then you can insert about conversion from fiat to btc or btc to fiat. The decision will already vary if they do accept bitcoins or crypto volatility before they would consider on giving you out that option.

[maydna]

Hi there.

I need your help..

I am going to exchange BTC at casino.
I had a lot of talk with hotel officials.
They did not know bitcoin.
They ask how the exchange will help the hotel.

How is it best for me to talk to them?

I do not get a clear answer.
I hope you can help me.

I think I know what he's mean. He went to the casino at the hotel, and he wants to play gambling in the hotel, but the casino is not using bitcoin for the bets. So he talks with the hotel officials about bitcoin especially about the exchanging their money to bitcoin. But unfortunately, the hotel officials don't know anything about bitcoin, and they need more explaining about bitcoin.

I think you need to introduce bitcoin and explain about bitcoin, how they can get the benefits from bitcoin. I think it is a good idea to add bitcoin to the hotels as the payment and for placing the bets and ask them to integrate their system with the blockchain so the customer can exchange the money to bitcoin so they can start playing gambling.

The exchange will only available for the hotel customers only, and the public cannot access the exchange unless the hotel makes it available for the public. It will help bitcoin to spread among the hotels, and we know that in the holiday season, there is a lot of customers that will take a holiday on that hotel.

[Betwrong]

~
They ask how the exchange will help the hotel.

How is it best for me to talk to them?
~

A hotel with a Bitcoin ATM is surely more attractive to visitors than a hotel without one. Normally people are reluctant to do something for the first time ever, so you should tell them that they won't be the first. There are now over 3,000 Bitcoin ATMs worldwide, and some of them are located in hotels. For example, the 4-star Flemings Conferance Hotel in Vienna, Austria, installed a Bitcoin ATM on October 2 this year. There is a BTC ATM at Hlemmur Square Hotel in Reykjavik, Iceland, and there is another one in Metropolitan Hotel in Sydney, Australia, and so on. Also, maybe it's worth mentioning that there are over 70 Bitcoin ATMs in Las Vegas at the moment.

I don't know if it makes that much of a difference in customer satisfaction really. I mean, you have to consider the cost of such an atm and the possible profit that's going to be made with it.
I really don't think they're used quite enough to consider investing into an ATM, but I could be wrong here.

Do you know what kind of volume these existing Bitcoin ATMs have?

I don't know about all the ATMs, but there was a news earlier this year that:

Vancouver-based Bitcoin ATM software provider Netcoins has today announced its daily transactional revenue across Canada, Europe and Australia has reached $2M CAD in a single day.

https://news.coinsquare.com/business/canadian-bitcoin-atm-company-hits-2m-in-daily-volume/

This is roughly $1.5 million USD, and Netcoins is not even in the Top 10 Crypto ATM Operators:

https://coinatmradar.com/charts/top-operators/

Although I don't think that they have $2M CAD volume every single day, it is more than likely less than that on average, but still pretty impressive.

[sunsilk]

What is this hotel casino you interacted with? they are not ready for the adoption of bitcoin so that's why you can't exchange yours into fiat. You ever thought that all casino's (land-based) knew bitcoin from the start?

You don't have to talk to them anymore if they can't help you with your concern but you can introduce them and educate them what bitcoin is. Explain that they can partner with any of local based exchange to make their acceptance of bitcoin easier.

I think I've heard of this before that some individuals who are staying there where you can exchange your btc's with but the management doesn't have any idea of this deal. (or they are?)

[Cacingkemi]

From your username Local_exchange_BKK means you have an exchange or do you want to open an exchange at the hotel? Why do you have to exchange at the casino while there are lots of market exchanges like Bittrex and others.Crypto exchange will help the hotel if the value when someone (checks in/booking) at a low value and when the high value of the crypto is sold and that greatly helps the hotel benefits but certainly must have a lot of funds to cover the hotel monthly expenses.
It looks like this question is misplaced.