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Author Topic: How long until we can bet with bitcoin in real life casinos?  (Read 1320 times)
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November 11, 2020, 04:57:55 AM
 #21

With the current volatility of bitcoin, I do not think that we can bet on physical casinos so soon. The players can find exploit with the current volatility of bitcoin like buying low then playing for awhile in high time then exchange the chips. They can digitize the chips exchange though, which mirrors cryptocurrency in a way which is more convenient for players and casinos alike.

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November 11, 2020, 05:05:11 AM
 #22

There's no exact date yet to say when and how long we should wait but for now, it's still blurry to have that in all of the physical casinos we have all over the world. Using Bitcoin in casinos as a bet would be a pain in the ass right now having transactions that will took few minutes or even longer to be transferred to another wallet. Also, we have to consider that implementing it would be an adjustment to both parties (The Casino and the players)

They need to be seminar about Bitcoin at least to avoid future errors such as sending their Bitcoin in a wrong Bitcoin address or in a wrong address, like ETH add, XRP add, so on and so forth.
It is not yet possible for me and I still do not have an idea if that will happen, there is a possibility that it will happen but still it will take a lot of time because usually those traditional gamblers have still no idea on what is bitcoin and how to use it. The traditional casinos are still not seeing it as an opportunity so for me they will not yet add it to their system. Implementing that kind of system is not easy because the traditional gamblers will really have a hard time to understand it. Education is the first priority for me before they implement that kind of features where we can do slots and bets in traditional casinos. 
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November 11, 2020, 07:24:51 AM
 #23

maybe we will be able to use Bitcoin as a reward or capital in the next 5 - 10 years...
Real casinos still haven't found the right concept to use Bitcoin in their business, drastic price changes and possibly high fees are still an obstacle. but I heard in Vegas, you can exchange your Bitcoin at a Bitcoin ATM with fiat then make the money for gambling capital.



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November 11, 2020, 07:41:59 AM
 #24

As mass awareness and adaptation grow, the likeliness of bitcoin or any other crypto being used in live casinos, or even anywhere may occur. The problem is, the demand for BTC being used in a live casino in my point of view is not ideal, fiat is still best used in live casinos due to the volatility of BTC price.
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November 11, 2020, 07:47:05 AM
 #25

With the current volatility of bitcoin, I do not think that we can bet on physical casinos so soon. The players can find exploit with the current volatility of bitcoin like buying low then playing for awhile in high time then exchange the chips .They can digitize the chips exchange though, which mirrors cryptocurrency in a way which is more convenient for players and casinos alike.
its not an exploit  and its not illegal to do it because that is part of the volatility . we are already doing it  in online casinos although there is a limit for withdrawals and there are also fees. they can put the same rules in the physical casino if they will integrate crypto as payments  so that they wont end up a looser .

digitalizing the chips kills the essense of being a physical casino and if they do that , why not build an online gambling  instead . we dont need to complicate things but the purpose is to make things easier
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November 11, 2020, 07:58:26 AM
 #26

What do you think?

at some point people will be able to walk in a casino and just bet on slot machines with bitcoin?
or play poker using crypto, but irl?

do you think it will become a mass adoption currency or it'll keep as it is on online websites only?

of course some merchants and places already adopt crypto and BTC as a way of payment, but curious here:
how long you think it'll take to reach the point where we can bet in real life places with bitcoin?

I think that the casinos at the moment are having a pretty hard time, and as soon as the new lockdown is lifted they will try to get back on track with their casinos. The business model is still great, so they don't need to look for new games. What is more important is getting the old gamblers back in the casinos and try to get players too in my opinion. During the pandemic many people started gambling online with bitcoins, so allowing the bitcoins now in the physical casinos too would be next step. This could be a good way for casinos to try and attract new gamblers.
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November 11, 2020, 08:08:58 AM
 #27

do you think it will become a mass adoption currency or it'll keep as it is on online websites only?
Well as long as we get to the point that it got instant for example via lighting network or even more upgraded feature like that then we could say we are on that stage to adapt betting on Bitcoin. If this is still the scenario that affordable fee on transactions take an hour/s then it wouldn't be possible as people kinda not like waiting especially when they are urging to play when they got chips on them. I do think it will not take decades but who knows we don't have crystal ball to predict that.
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November 11, 2020, 08:13:35 AM
 #28

Maybe 10-15 years or not? I don't think the casino would benefit from doing this idea in their casino. It is possible that all real-life casinos would accept bitcoin as an exchange for cash or token but betting with bitcoin in their casino would be possible now only for the VIP if they would request it.
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November 11, 2020, 08:51:05 AM
 #29

When something is being talked about and adopt by majority of the people and nation, there's a big possibility that companies and industry will adopt it as well, I don't know how long it could be immediately after the pandemic but the physical gambling casinos are always innovating and creating something that will make their platform easy to use and profitable for them and Cryptocurrency has all of this.


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November 11, 2020, 08:52:46 AM
 #30

What do you think?

at some point people will be able to walk in a casino and just bet on slot machines with bitcoin?
or play poker using crypto, but irl?

do you think it will become a mass adoption currency or it'll keep as it is on online websites only?

of course some merchants and places already adopt crypto and BTC as a way of payment, but curious here:
how long you think it'll take to reach the point where we can bet in real life places with bitcoin?
It is a mystery because no one will know when it will happen since the casino in real life still uses fiat to buy the chips.
Maybe if one big casino can apply to use bitcoin and invite more gamblers to try, the other casino will try it too.
But to use bitcoin as the bets will need a basic lesson on using bitcoin because not all people out there will understand how to use it.
Maybe bitcoin and other coins will still be used in the online casino shortly until the government can accept the use of crypto for many things.
Maybe it will need more years to see crypto used as the payment system and crypto can be used to place bets in real life.
We don't have to think about that because we can still use crypto or bitcoin to bet in online gambling, which is enough for us.

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November 11, 2020, 09:19:21 AM
 #31

^ Predicting the exact date will be difficult and speculations are the only thing that we can be certain of. Looking at the progress of bitcoin and other cryptocurrencies in the gambling industry have already gone far and I am positive that it will not take too long that bitcoins will be used directly for betting in physical casinos due to pandemic and digital currency is being acquired nowadays globally.
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November 11, 2020, 09:29:57 AM
 #32

There are already physical casinos that accepts Bitcoin ex. Las Vegas https://www.gamblingsites.com/blog/vegas-casinos-accept-bitcoin-64554/

Some people missed this comment! They give their prediction just to write something...

If you do talk on betting bitcoins directly then i doubt that it isnt really that available at the moment but making out some conversion on buying out
chips via btc then these casinos would be on perfect fit.

We have online crypto casinos where you deposit btc (or some alt) and you get your amount in dollars/euros! So it's nothing strange in my opinion, after some time you get used to it if you like to spend time there!

In the end it's on us individually where we like to gamble! I understand people who like casinos where they can mingle with other people, and all the fun that comes from that, but I am good with online crypto gambling, without much hassle with documents, verifications, easy and simple from the comfort of my home! I wouldn't change that!

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November 11, 2020, 09:52:28 AM
 #33

Bitcoin as a cryptocurrency is a currency of the web and I believe it would always be as that else, it would be a deviation from its own contest from a software to a hardware thereby, contesting with fiat and that's very much unlikely to happen as Bitcoin is more valuable in it's software nature.

I guess what we should be or is talking about here is it's acceptance as a staking power or medium of payment as it should being a currency that could be used almost universally but, this is dependent on the merchant so, it's very much an individual thing. I go to some shops in my locality and they've either got their P.O.S ready to pay with your card or a displayed account details for transfer. This also could be done on Cryptos should the merchant accept Cryptos, either provide a Bitcoin ATM or has his or her wallet address available for customers and a means of transfer verification in place at all times.
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November 11, 2020, 10:11:01 AM
 #34

<...>

There's no such thing to say if we can sustain while we're still in the midst of pandemic, and though we earned sustainably from descent job that doesn't mean we're going to bet often. However if we find it comfortable to do it, then it's our virtue if choice but don't be addicted. Self control is very important in the first place, because if this becomes a habit I think worst cases might occur specially in our daily budget.

 Huh

<...>

Imagine buying 0.01 worth of chips, not wagering then an hour later cashing those chips back to crypto and only getting 0.00812 because of TX fees and the price fluctuating whist playing.

that could be easily solved by having a pre-paid casino card that you can top-up with our favorite currency, be it fiat, stablecoins or bitcoin/ethereum.

Perhaps, that is not available right now, but soon, it will be available in the casino. If the government can allow bitcoin to be used in many businesses, the casino can use bitcoin to bet, and I think the casino will be the beginner that will try to use bitcoin.

The chance for bitcoin to be a mass adoption currency is wide open, especially for payment methods. But so far, bitcoin still be the option on the payment methods on the online payment. If you are curious about how long bitcoin can be as a payment method, it'll be one year later, five years later, or even longer than that because that is back to the government because they are the regulation maker.

I agree with most of that!
the only thing is that even the government can't stop bitcoin, the ones that try to do it will only lose longterm.

I think casino can easily accepts bitcoin if they want, the problem perhaps is that the demand is not yet there. And crypto gamblers will still used online casino's to used their crypto to gamble.

And I don't think any difference at all though, if you love real life casinos, then exchange your crypto first to fiat and then go to land based casinos to gamble, problem solved. And just imagine that you really wanted to play right away in a real life casinos, but then you have to wait for confirmation time, it's gonna be hassle on your part.

here we have some interesting dillema on deman creation.
we can think of it as a road that goes both ways:
users/costumers can create demand but so do business.

yes, there's no big difference because usually the person who would play on a casino would probably have no problems on using a bridge fiat-crypto (exchange/p2p/whatever)

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November 11, 2020, 10:27:25 AM
 #35

There are already physical casinos that accepts Bitcoin ex. Las Vegas https://www.gamblingsites.com/blog/vegas-casinos-accept-bitcoin-64554/

Some people missed this comment! They give their prediction just to write something...
~

Yeah, but, in fact, the casinos from the article don't allow you to play with BTC. They accept BTC as payment for various services, and they do have Bitcoin ATMs on site, but you can't gamble directly with Bitcoin there.

Regarding the OP's question, it is possible that physical casinos will cease to exist soon because of the pandemic, so their accepting Bitcoin or not, will be irrelevant. It looks like everything will be going online more and more in the near future, and even after Corona will be taken care of, the re-opening will hardly start happening, because of the fear of another pandemic.

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November 11, 2020, 10:51:47 AM
 #36

I don't think that would be great imagine going to casino to play wherein you can play games at home but I think that could work as well.
I was thinking if they will implement it for sure there will be a lot of legal stuff will happen before it will be accepted since the physical casinos are regulated.

ya.ya.yo!

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November 11, 2020, 10:56:13 AM
 #37

There are couple of things we should put in consideration in this industry before talking about this, some of which is: Bitcoin transactions, Bitcoin acceptability and Bitcoin fee. Betting Bitcoin on a real life casinos here are issues at this moment becasue of the aforementioned. How fast is Bitcoin transaction compare to other payment methods?, how is Bitcoin acceptability among real life casinos in your country? and the high fees in respect to Bitcoin is sometime unimaginable...these won't make the real life casinos adopt the use of Bitcoin IMHO.

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November 11, 2020, 10:57:08 AM
 #38

What do you think?

at some point people will be able to walk in a casino and just bet on slot machines with bitcoin?
or play poker using crypto, but irl?

do you think it will become a mass adoption currency or it'll keep as it is on online websites only?

of course some merchants and places already adopt crypto and BTC as a way of payment, but curious here:
how long you think it'll take to reach the point where we can bet in real life places with bitcoin?

In regular casinos you buy chips at the cash desk. I do not see a big difference in what currency you will do it for. Especially now there are already existing plastic crypt-currency cards, which are nominated in cryptocurrency and when calculated convert it to dollars.
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November 11, 2020, 11:13:24 AM
 #39

Brick n Mortar casinos are a bit more complex, because most governments does not accept Bitcoin as a Currency. A lot of these countries define Bitcoin as a "Commodity" or an investment option, so it is difficult for these casinos to accept Bitcoin as a payment option, if it is not allowed by it's government.

I have seen some casinos offering Bitcoin prizes for specific promotions, like they do with expensive cars and Gold coins, but I doubt that they would risk losing their license by accepting Bitcoin as a "Currency".  Roll Eyes

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November 11, 2020, 11:33:03 AM
 #40

What do you think?

at some point people will be able to walk in a casino and just bet on slot machines with bitcoin?
or play poker using crypto, but irl?

do you think it will become a mass adoption currency or it'll keep as it is on online websites only?

of course some merchants and places already adopt crypto and BTC as a way of payment, but curious here:
how long you think it'll take to reach the point where we can bet in real life places with bitcoin?

In regular casinos you buy chips at the cash desk. I do not see a big difference in what currency you will do it for. Especially now there are already existing plastic crypt-currency cards, which are nominated in cryptocurrency and when calculated convert it to dollars.

I also think of an idea that regular gambling casinos can use chips that will represent the value of bitcoin. By that, gamblers can buy bitcoins through chips and they can now play cards or any game they want. It is possible that cryptocurrency may be used in a regular casino or maybe there are some casinos who is regulating it already. Online casino websites if you will compare, it is just a part of an overall running casino. Most casinos adapt easily and I see no other reason for them not to adopt cryptocurrency.
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