Bitcoin and casinos

[Betwrong]

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

but offline casinos that implement bitcoin as a payment method can have long term losses, you saw that until recently the price was $ 12000 and now the price is $ 8000, i wonder how offline casinos would do to avoid having big losses if they accepted bitcoin as a means of payment. A few years from now (maybe 10 years) when the market is very large and not manipulated and regulated, I believe offline casinos will be happy to add bitcoin as a means of payment.

For land based casinos accepting crypto would be a good feature that would attract new audience to their premises. How to avoid possible losses? That's easy. They can accept BTC or any other crypto in exchange for casino chips at an undervalued exchange rate, say, $105 worth of BTC for a $100 chip, and exchange crypto for fiat themselves right away. It is very unlikely that they could lose anything this way. And for crypto holders wanting to gamble, 5% is nothing.

[yvesp110]

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

Which can be a good start to any offline casino bringing new ways of payment system, it will not that long for us to see that establishment like casino house will offer this same with how we are expecting that big businesses will also adopt and embrace this chain.

Bitcoin is also a good asset in the other hands if the owner of the casino aims to hold there's a lots of opportunities same with what you have said.

Bitcoin holders are going to support this concept a lot and even those who are not using bitcoin would also be able to find out about this amazing currency. In this way, bitcoin users will increase in leaps because gambling is a game which is played all over the world and people love it. Holing bitcoins that you win in gambling can easily make you rich.

[elda34b]

but offline casinos that implement bitcoin as a payment method can have long term losses, you saw that until recently the price was $ 12000 and now the price is $ 8000, i wonder how offline casinos would do to avoid having big losses if they accepted bitcoin as a means of payment. A few years from now (maybe 10 years) when the market is very large and not manipulated and regulated, I believe offline casinos will be happy to add bitcoin as a means of payment.

I think it's easy for them to exchange the Bitcoin into fiat or stable coins when necessary. After all, there's nothing stopping them from doing that. You don't have to keep your Bitcoin forever, especially if it's volatile and can swing 20% in a day.

I believe most business also do that atm, can't blame them.

[carlisle1]

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

I have yet to see a physical casino that accepts bitcoin but in theory it should not be that hard, you could exchange your bitcoin for fiat and then you could receive casino tokens and play with them, then when you are finished if you still have some tokens left you could exchange them for bitcoin, it is not really that complex but I doubt that many casinos would like to do that since they will need to hold some bitcoin and they could lose some money in the process thanks to its volatility

but why need to exchange the crypto for fiat if we can just play using cryptocurrency?thats the point of OP why he was seeking if this is possible things that i know its yes

imagine time will come that all we need is bring our mobiles to buy chips without converting to fiat that may require fees and any other issues

just like what we are doing at home while playing online casinos wasn't that cool to have?

[deisik]

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

but offline casinos that implement bitcoin as a payment method can have long term losses, you saw that until recently the price was $ 12000 and now the price is $ 8000, i wonder how offline casinos would do to avoid having big losses if they accepted bitcoin as a means of payment. A few years from now (maybe 10 years) when the market is very large and not manipulated and regulated, I believe offline casinos will be happy to add bitcoin as a means of payment.

For land based casinos accepting crypto would be a good feature that would attract new audience to their premises. How to avoid possible losses? That's easy. They can accept BTC or any other crypto in exchange for casino chips at an undervalued exchange rate, say, $105 worth of BTC for a $100 chip, and exchange crypto for fiat themselves right away. It is very unlikely that they could lose anything this way. And for crypto holders wanting to gamble, 5% is nothing

They don't need that

If the chips in question are denominated in Bitcoin itself, the problem of volatility is solved automatically (in fact, it doesn't even arise in the first place). That would mean your losses as well as winnings are still denominated in Bitcoin. So no matter how much Bitcoin's dollar price changes, the casino wouldn't be affected by this change. Indeed, their Bitcoin bankroll would have then to be in actual bitcoins (to pay out what's due), but isn't it exactly what online casinos keep their bankrolls in anyway?

[Reatim]

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

While most of the answer is Bitcoin can be converted to Fiat,yet the fact that bitcoin can be used directly is advantage.this can help direct access and help the crypto market also because sometimes gamblers can be carried away betting while enjoying and don’t mind how much bitcoin or any other cryptocurrency they are using or spending

But I think it’s not happening now,or maybe there are some company that considering this because it’s already happening in online casino then why not in real life

[AliMan]

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

I have yet to see a physical casino that accepts bitcoin but in theory it should not be that hard, you could exchange your bitcoin for fiat and then you could receive casino tokens and play with them, then when you are finished if you still have some tokens left you could exchange them for bitcoin, it is not really that complex but I doubt that many casinos would like to do that since they will need to hold some bitcoin and they could lose some money in the process thanks to its volatility

but why need to exchange the crypto for fiat if we can just play using cryptocurrency?thats the point of OP why he was seeking if this is possible things that i know its yes

imagine time will come that all we need is bring our mobiles to buy chips without converting to fiat that may require fees and any other issues

just like what we are doing at home while playing online casinos wasn't that cool to have?

The direct payment of cryptocurrency towards casino chips was still working out by gambling developers, and as business still continues to move forward for innovative improvements those possibilities were highly recommended. For now don't consider those fees on conversion as big deals, because it's just affordable and I don't see any glitches which may result to failure of withdrawal or betting activities.

[smyslov]

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

I thought this thread was created three years ago but this is a new post just this year, it's already happening there are casinos that already using Bitcoin on their casinos, online casinos will be taken over by Casinos using Cryptocurrency, I'm pretty sure this is the future of online casinos.
Gambling is the first industry that adopted cryptocurrency and it's very successful we'll see many more industries adopting Cryptocurrency to integrate it into their business.

[Faxmate]

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

Which can be a good start to any offline casino bringing new ways of payment system, it will not that long for us to see that establishment like casino house will offer this same with how we are expecting that big businesses will also adopt and embrace this chain.

Bitcoin is also a good asset in the other hands if the owner of the casino aims to hold there's a lots of opportunities same with what you have said.

Bitcoin holders are going to support this concept a lot and even those who are not using bitcoin would also be able to find out about this amazing currency. In this way, bitcoin users will increase in leaps because gambling is a game which is played all over the world and people love it. Holing bitcoins that you win in gambling can easily make you rich.

Bitcoin is going to help casinos owners to get more and more customers or gamblers. This will not only increase the worth of bitcoin but also expand the business of casino owners. I am pretty sure that already many casinos must be dealing in bitcoin or they themselves have bitcoin as assets or side business to make good money.

[wxa7115]

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

Right now most off line casinos do not see the need to accept bitcoin, we need to be realistic, how many gamblers do you think have asked those casinos if they could let them play with their bitcoin? In fact years ago I asked that question to a casino manager and he did not even knew what bitcoin was, then i discovered any chance of bitcoin being adopted by any casino is almost zero in my country.

However if bitcoin begins to become more popular around the world then you will see bitcoin being adopted by all kind of business including casinos.

[Betwrong]

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

but offline casinos that implement bitcoin as a payment method can have long term losses, you saw that until recently the price was $ 12000 and now the price is $ 8000, i wonder how offline casinos would do to avoid having big losses if they accepted bitcoin as a means of payment. A few years from now (maybe 10 years) when the market is very large and not manipulated and regulated, I believe offline casinos will be happy to add bitcoin as a means of payment.

For land based casinos accepting crypto would be a good feature that would attract new audience to their premises. How to avoid possible losses? That's easy. They can accept BTC or any other crypto in exchange for casino chips at an undervalued exchange rate, say, $105 worth of BTC for a $100 chip, and exchange crypto for fiat themselves right away. It is very unlikely that they could lose anything this way. And for crypto holders wanting to gamble, 5% is nothing

They don't need that

If the chips in question are denominated in Bitcoin itself, the problem of volatility is solved automatically (in fact, it doesn't even arise in the first place). That would mean your losses as well as winnings are still denominated in Bitcoin. So no matter how much Bitcoin's dollar price changes, the casino wouldn't be affected by this change. Indeed, their Bitcoin bankroll would have then to be in actual bitcoins (to pay out what's due), but isn't it exactly what online casinos keep their bankrolls in anyway?

In this case they would need to have two different kinds of chips: regular ones and some with a sign of BTC on them so that a casino cashier knew what to give in exchange for those chips. It would work fine with slot machines, but think of a poker table. What if other players don't want those bitcoin chips? Theoretically, dealers could constantly make adjustments according to the current exchange rate, but imaging what a headache it would be for them. )

[deisik]

If the chips in question are denominated in Bitcoin itself, the problem of volatility is solved automatically (in fact, it doesn't even arise in the first place). That would mean your losses as well as winnings are still denominated in Bitcoin. So no matter how much Bitcoin's dollar price changes, the casino wouldn't be affected by this change. Indeed, their Bitcoin bankroll would have then to be in actual bitcoins (to pay out what's due), but isn't it exactly what online casinos keep their bankrolls in anyway?

In this case they would need to have two different kinds of chips: regular ones and some with a sign of BTC on them so that a casino cashier knew what to give in exchange for those chips. It would work fine with slot machines, but think of a poker table. What if other players don't want those bitcoin chips? Theoretically, dealers could constantly make adjustments according to the current exchange rate, but imaging what a headache it would be for them

But let's admit it, this is a minor issue really

So you want to play poker but for some obscure and incomprehensible reason don't want to have anything to do with Bitcoin (even though "when money talks bullshit walks" and all such witticisms). But you play and you win, ending up with your pockets full of Bitcoin chips

And so what? The winner takes it all, right? So it is not a casino's headache, not in the least. Yep, you got it right - it is the loser who is to pay for the "adjustments according to the current exchange rate" (unless the winner changes his mind in the process, so to speak)!

[btc78]

It is not as massive as it is in the internet but some of the major casinos in the world happens to accept bitcoin.Bitcoin is a digital currency and as such finds most of its use in a digital form.Online casinos are opening up very often and they all have one major thing in common,they use and accepts bitcoin and other crypto currencies for their main operation.This will not change,bitcoin will always prevail in the digital form most of the time in casinos.

But yet not enough because we need Live casino that accept bitcoin or even altcoins directly without conversion .in which I am sure that some company are working out because they knew the demand of cryptocurrency worldwide and if they did not adopt this logic then they will left behind

Hoping sooner we will be having this here in Asia as sometimes we are staying longer in casino and our cash runs out,and we can’t convert our bitcoin instantly so having accepted crypt is really a advantage

[Betwrong]

So you want to play poker but for some obscure and incomprehensible reason don't want to have anything to do with Bitcoin

Not me, of course, but, most of the people don't want to have anything to do with Bitcoin. They avoid it like the plague, sometimes to the point that they don't want to even hear about it. I know this from my own experience, and I think you know this too.

I'm talking about regular people, people with lack of knowledge. Casino owners are not like them. They are either educated themselves or have educated advisers, so they are not afraid of Bitcoin, but they must take into account the views of their customers.

So, I still think that, for the moment, the the best way of implementing Bitcoin in land based casinos is exchanging them for chips by casino cashiers.

[Saisher]

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

Once they tested it and it's compatible with their system, they integrated it and make part of their system, casino operator wants convenience for their users, and so far online casinos are ok with integrating Bitcoin offline casinos are going to be the next inline, Bitcoin is in the adoption period so many industry are testing how to integrate it.

[michellee]

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

Once they tested it and it's compatible with their system, they integrated it and make part of their system, casino operator wants convenience for their users, and so far online casinos are ok with integrating Bitcoin offline casinos are going to be the next inline, Bitcoin is in the adoption period so many industry are testing how to integrate it.

And if there is a big offline casino trying to integrating with bitcoin or cryptocurrency, and it succeeds, then that will be a way for cryptocurrency to be reached in the gambling industry. There will be much other offline gambling will follow that step to integrate with bitcoin and not just to use bitcoin, but they will use another coin. That will be a big step for cryptocurrency to reach more people in all country, especially for people who lived in the country where gambling was allowed.

[crzy]

but offline casinos that implement bitcoin as a payment method can have long term losses, you saw that until recently the price was $ 12000 and now the price is $ 8000, i wonder how offline casinos would do to avoid having big losses if they accepted bitcoin as a means of payment. A few years from now (maybe 10 years) when the market is very large and not manipulated and regulated, I believe offline casinos will be happy to add bitcoin as a means of payment.

I think it's easy for them to exchange the Bitcoin into fiat or stable coins when necessary. After all, there's nothing stopping them from doing that. You don't have to keep your Bitcoin forever, especially if it's volatile and can swing 20% in a day.

I believe most business also do that atm, can't blame them.

Its easy since a lot of ways to convert your bitcoin to fiat money especially with big companies. Offline casinos might still not adopt bitcoin because of its volatility, and the value of bitcoin is still a problem to other businesses. Bitcoin and casinos can work together on a different ways, they will find out soon.

[carlisle1]

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

I have yet to see a physical casino that accepts bitcoin but in theory it should not be that hard, you could exchange your bitcoin for fiat and then you could receive casino tokens and play with them, then when you are finished if you still have some tokens left you could exchange them for bitcoin, it is not really that complex but I doubt that many casinos would like to do that since they will need to hold some bitcoin and they could lose some money in the process thanks to its volatility

but why need to exchange the crypto for fiat if we can just play using cryptocurrency?thats the point of OP why he was seeking if this is possible things that i know its yes

imagine time will come that all we need is bring our mobiles to buy chips without converting to fiat that may require fees and any other issues

just like what we are doing at home while playing online casinos wasn't that cool to have?

The direct payment of cryptocurrency towards casino chips was still working out by gambling developers, and as business still continues to move forward for innovative improvements those possibilities were highly recommended. For now don't consider those fees on conversion as big deals, because it's just affordable and I don't see any glitches which may result to failure of withdrawal or betting activities.

why not consider the fees when we can play without paying>??and who told you that its affordable?of course it is but this can be gone if only the cryptocurrency were accepted.
anyway it seems that you are not playing at all that's why you can talk like that

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

I thought this thread was created three years ago but this is a new post just this year, s.

what?where did you get the idea that the thread was created 3 years ago?wondering where you from lol.
for OP maybe we have no chance these days but i am sure this was being considered by devs and teams and might be available very soon

[robelneo]

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

Online and offline is just the same if they can install and use Bitcoin and other Cryptocurrency to their online version, they can also use that in their offline version but the structure will be very different, like real casinos will have to get compliant and license, they have to employ QR code and atm in their locations, I'm pretty sure these casinos will going to do like that if they want Bitcoin holders to play on their casinos.

[Genemind]

Some casinos are actually offering games with crypto. In our country, there are casino players who are into crypto rather than fiat which is an advantage for the growth of crypto in our country. Implementing crypto payment would be better and it attracts most gamblers to invest and choose bitcoin and other altcoins. I believe that the crypto industry will merge with more casinos in the future.