Cryptos are coming to physical Slot Machines - IGT received the patent!

[Fredomago]

Interesting how this project is gonna turns out in the future and how it is going to affect bitcoin.
-snip-

I honestly don't think it has much of an impact. People who play games in classic casinos are probably not the ones who are heavily invested and/or interested in the crytpo space. Especially with crypto casinos, everything happens online, starting from the deposit to the communication with the community (chats, ...) to the games themselves.

In my opinion, the whole thing only has potential when crypto is so mainstream that virtually everyone uses it. But we are certainly still a few years away from that

Reality wise, the market still small compared to those fiat based casinos. But if ever that the mainstream gamblers switch over to this system the impact surely affects the entire market.

You mentioned those gamblers who are using classic casinos for now yes they'll stay with what they usually using but once they've understand the whole concept and those good side of this chain, and if the game that they are using also be available which most are
also based with fiat casino gamings.

For still far from acquiring the big audience but in due time it will happen.

[Oilacris]

Interesting how this project is gonna turns out in the future and how it is going to affect bitcoin.
-snip-

I honestly don't think it has much of an impact. People who play games in classic casinos are probably not the ones who are heavily invested and/or interested in the crytpo space. Especially with crypto casinos, everything happens online, starting from the deposit to the communication with the community (chats, ...) to the games themselves.

In my opinion, the whole thing only has potential when crypto is so mainstream that virtually everyone uses it. But we are certainly still a few years away from that

Definitely correct with this sentiment is that not all would really be that on the investment side of things which i do also see that this wont really be much or can affect that heavily

but atleast we are seeing some viable options for us to interact and utilize those things for us to use.Its still a good add up though.

[acener]

Another Big step for crypto now we could see those crypto gambler who also like to play at land base casino to have some people around while gambling could now enjoy both land base casino and crypto at the same time.
Would we see the same development when it comes to shopping or grocery stores?
I hope soon enough they would also accept crypto, So their crypto earner customer could just pay off with it and doesn't need to convert their crypto to shop or buy some groceries.

[akirasendo17]

if this is going to push through then this is really a big boost to the crypto world and the community, say goodbye to those coins pushing to the ground, and heavy to carry to the counter, at the same time it will be no hassle for the players since the winnings also will be directed to the crypto wallet right or not? but this will be a good move, hope that will be just the start of the mass adaptation, not only in gambling but to others also.

[Jating]

Gambling industry though is the first to really adopt crypto so it make sense that after a couple of years, physical casino's are going to want to compete with online crypto casinos. So now that one of the biggest game provider IGT has received a patent then it will just be a matter of time.

I haven't went to physical casino's though in this pandemic and just chooses to play from time to time. And I think this is better if somewhat the covid-9 pandemic has been controlled. Anyhow, I will still consider this a welcoming news for crypto gamblers, whether online or offline.

[michellee]

physical casino owners that supports this are going to announce it on their place and on their groups for their regular costumers to know the good news .
for crypto users the cointelegraph website is already a popular source for crypto news and also on here we already read and now aware of this upcoming transition .
converting fiat to digital forms for use is best to do nowadays because money is verry dirty . gaming machines are dirty but they can be cleaned easily

If the casino owners can announce it to their member and their place, it could attract more people, especially new gamblers, to try to use crypto. It can give them a new experience using the crypto because they do not need to carry their fiat money to gamble. Yes, the Cointelegraph website has many viewers that will read on that news, so we can hope more people will know about that. If they do not use crypto to gamble, that will be good for them because they will learn about the investment side than to just gamble.

It’s a good thing that physical casinos are now recognizing cryptocurrency. It's another way to let other gamblers switch to Bitcoin and other cryptocurrencies instead of fiat. It will be another way to attract more investors which has a positive impact on the market. Things are getting better for crypto these days and lots of adoptions are happening. I hope that more physical casinos would recognize and adopt crypto.

Sooner or later, we will see booming in the offline gambling business, making the owner curious about crypto to implement cryptocurrency in their place. Yes, it will attract more investors to come to the gambling business, but it will also positively impact the market.  The adoption is still in good progress and we are seeing people become open-minded of something new, which can bring them the new opportunity to adopt and use crypto.

[Karartma1]

I'd love so much to see these old chaps having to deal with crypto slot machines! It was about the time, we knew that this was coming too. The world is slowly turning, and I'd say, adapting to crypto. This is another step in that direction even if I personally would rather keep using the online alternatives as I like to be able to verify my bets via provably fair tools. I have this maybe false impression that those machines are altered too much.

[sunsilk]

This is a good integration of a physical casino to use bitcoin and other participating cryptos. Once it's already been applied to some of the casinos that's well known with slots, there will upgrades gradually which will benefit the whole bitcoin community.

It might not be as quick as it is but this is the right process and we're looking forward to see many slot machines from one casino to another having this integration. They should experience how easy it is to use bitcoin and even an average joe can do that because of this patent.

[peter0425]

Possibly another boost to the crypto market. The largest manufacturer of slot machines International Game Technology, or IGT, received a patent on 5 Jan, 2021 for a system that would enable gamblers to transfer crypto from their accounts into a “gaming establishment account". So once this system is implemented, the physical casino players wouldn't have to use bitcoin ATM to play slot games!

According to records from the United States Patent and Trademark Office, International Game Technology, or IGT, received a patent today for a system that would enable gamblers to transfer crypto from their accounts into a “gaming establishment account.” The patent filing shows payments in Bitcoin (BTC), Bitcoin Cash (BCH) and Ether (ETH) as examples for users transferring crypto from their private wallets to wallets connected to casino accounts.

“IGT secured this patent to bolster its industry-leading patent portfolio in anticipation of any possible future direction in regulated gaming involving cryptocurrency,” said spokesperson Phil O’Shaughnessy.

News ref: https://cointelegraph.com/news/slot-machine-manufacturer-gets-patent-for-crypto-payment-options

Physical casino gambling market is a few billion dollars industry! Another step towards adoption, I believe! 

So this is the beginning of the worldwide adoption of Gambling to crypto betting ? Now slot machine then what's next ?

can't wait to see these Physical gambler enjoying what we are treasuring now , How they will Love what we have loved for many years now.

and this will surely increase the demand of crypto in some time soon.

[Mauser]

Interesting how this project is gonna turns out in the future and how it is going to affect bitcoin. Getting or adapting bitcoin into a physical casino could be a good thing and could be the future of gambling. A lot of countries look like getting interested in cryptocurrency but more are turning out to be trying to regulate bitcoin I hope this will not affect these slot machines because using cryptocurrency, I just don't know how they were gonna implement it in the end plus with the tax. I think online gambling casino is the way to the future and because of the pandemic, I would prefer playing online.

I agree with you, most people transitioned last year from physical casinos into online casinos. Travelling is not really an option right now, so gambling from home is the safest way for us to make a profit while not risking our health. Having the physical casinos now trying to keep up and accepting crypto currencies is a good move but probably will not change much in the overall trend towards online gambling. Once the corona pandemic is over I might go back to play 1-2 times a year in a casino resort.

[robelneo]

“IGT secured this patent to bolster its industry-leading patent portfolio in anticipation of any possible future direction in regulated gaming involving cryptocurrency,” said spokesperson Phil O’Shaughnessy.

News ref: https://cointelegraph.com/news/slot-machine-manufacturer-gets-patent-for-crypto-payment-options

Physical casino gambling market is a few billion dollars industry! Another step towards adoption, I believe!  

I called it a big leap, you are right gambling is a billion-dollar industry but it still goes up to how these gambling casinos going to promote this to their players, it will take a few months to a year before players fully adopted the setting, if we have a long run of bull run and the price stabilize, one of the big factors is the gambling industry, they are one of the major players in the adoption of Cryptocurrency.

[slaman29]

Interesting how this project is gonna turns out in the future and how it is going to affect bitcoin.
-snip-

I honestly don't think it has much of an impact. People who play games in classic casinos are probably not the ones who are heavily invested and/or interested in the crytpo space. Especially with crypto casinos, everything happens online, starting from the deposit to the communication with the community (chats, ...) to the games themselves.

In my opinion, the whole thing only has potential when crypto is so mainstream that virtually everyone uses it. But we are certainly still a few years away from that

I mentioned earlier I think it's big news. But not so much about affecting Bitcoin price or anything. But maybe a start to marrying offline and online gambling. See, people who gamble with crypto online let's say don't go to real casinos. But, if they happen to pass by casinos or are visiting countries for tourism and there are casinos with crypto machines. I don't know, I'd be very curious to at least try:)

Like you said though, many more years.

[Kelvinid]

This will add more attraction to gamblers. But this will do the pilot testing first before it finally open to the public and not to encounter any uncredited deposits or any alike issues that cause only misunderstanding and trust issues.

For we are started developing these things, it can be soon more adaptable to the players and possible to happens that big casinos will also be acquiring these machines and new technology enhancements. As we through to these huge changes in the crypto world, the more it gains attention and that might a way to make a change what the government is thinking about.

[traderethereum]

Suppose many good news releases talk about integrating cryptocurrency in many businesses, not just in the gambling business. In that case, I am sure that can boost the existence of cryptocurrency in real life.
People will see that cryptocurrency come to them and give them a chance to make money.
And for the gamblers, they will have the opportunity to feel how if they use crypto to gamble, and I think they will like it as they do not have to verify their account before they play gambling.
It is just a beginning, and I am sure there will be much other good news about crypto this year.

[Ulven]

It is interesting to hear news like this because it contributes greatly to the adoption of cryptocurrency. However, society's adaptation to using encryption needs more time until it is able to use the technology and understand it as required. I think we need a decade for technology to expand further in different regions into the world!!!

[FlightyPouch]

I hope they would be able to find a way to lessen the fees that the gamblers are using. Here in our country, we have an online exchange/wallet that we are using and we can transfer from another same exchange without fees and the speed is almost instantaneously. If that would be the same with these Slot Machines, it would be really popular especially to those who use cryptos.

[Karartma1]

It is interesting to hear news like this because it contributes greatly to the adoption of cryptocurrency. However, society's adaptation to using encryption needs more time until it is able to use the technology and understand it as required. I think we need a decade for technology to expand further in different regions into the world!!!

We don't need another decade for this to expand everywhere. This new implimentation will stimulate users who never had a chance to see crypto technologies working in the real world to get their first chance. If it was me, I'd like to see Lightning Network ready slot machines, that would be awesome. Instead of playing pennies, we could play satoshis.

[Renampun]

...

This is great news for gamblers in the crypto community...
Depositing an account via cryptocurrency is much easier nowadays, thanks to the open mind of casino businessmen who are no longer afraid of accepting cryptocurrency at their place even though there is no permission from the government.

[shoreno]

...

This is great news for gamblers in the crypto community...
Depositing an account via cryptocurrency is much easier nowadays, thanks to the open mind of casino businessmen who are no longer afraid of accepting cryptocurrency at their place even though there is no permission from the government.

give thanks to the gamblers too because they are also the reason on why this integration of cryptos to physical gaming machines are now possible because gamblers request this to the casino owners but the casino owners already have an existing knowledge on crypto because they are easy for them to decide to accept the request of their costumers and yes they dont need to ask for permission to the government if their casino is already legal and regulated because adding crypto is only a payment method anyway .

[Yamifoud]

...

This is great news for gamblers in the crypto community...
Depositing an account via cryptocurrency is much easier nowadays, thanks to the open mind of casino businessmen who are no longer afraid of accepting cryptocurrency at their place even though there is no permission from the government.

This means that we are gradually developing for a more comfortable trading life than bringing cash to the table. And we can't deny that gambling institutions are the leading crypto adopters, and we have seen that the number of gamblers now is growing because of this.
It is too much expectation that this machine will be propagated to other countries and spreading more. And this will give the opportunity for offline casinos to finally on the move towards accepting crypto in the future.