Will physical casinos accept crypto someday?

[bakasabo]

In my opinion, casinos will start accepting crypto only when crypto will be mass adopted. Due to fact, that all the casinos generate huge profits, they are strictly connected with laws and taxes. They buy licenses for every gambling machine, table or game they have. While the situation with crypto is rather shaky in every country, they can not accept it as a payment. But as soon as country will give a green light to crypto, it, as a payment, will be integrated in no time.

[Pamadar]

In my opinion, casinos will start accepting crypto only when crypto will be mass adopted. Due to fact, that all the casinos generate huge profits, they are strictly connected with laws and taxes. They buy licenses for every gambling machine, table or game they have. While the situation with crypto is rather shaky in every country, they can not accept it as a payment. But as soon as country will give a green light to crypto, it, as a payment, will be integrated in no time.

Indeed! the point is offline casinos needs legalities from the government,

and once the government allow crypto that's the sign that every business from that particular place will adopt this system, for now this discussions might take a long pause due to pandemic, as most of  those offline casinos are close.
There are things that might changed up since some of those offline casinos are now adopting online and digital process might include crypto, but that's another thing to discuss.

[paxmao]

i see this as a business opportunity if they do not to be honest. Just go into a casino, buy some chips and then offer your services as intermediary getting paid in crypto and selling the chips. i am not much of a physical casino fan, but I think this would make sense... you know... you charge 3% on top of market price and covert back to fiat to avoid running risks. Would that work? Would this make the casinos actually start that change service by themselves?  I think that it would be a very smart move and mostly risk free, as they do not have to hold bitcoin reserves.

[KTChampions]

I think that nowadays few shops and buyers use cryptocurrency for one simple reason - why should they do it if they are satisfied with fiat? The use of cryptocurrencies in online casinos is widespread for obvious reasons, but there is simply no particular reason for the transition to widespread use of cryptocurrencies by physical casinos.

Physical casinos offer a good experience than online gambling, however, due to the pandemic, people learn that gambling online is easier and cheaper, so Physical casinos revenue has decreased due to the restrictions, and for them to survive and stay profitable, they have to compete and operate an online casinos business also.

We should not limit the function of a physical casino, all of them operate for profit, and if they find an opportunity to boost their profit, then they will not hesitate to start accepting crypto as it's popular nowadays.

But the fact that physical casinos will begin to accept cryptocurrency does not mean an increase in its applicability. As I wrote above, casinos will accept cryptocurrency through the 3rd party (possibly an exchange) and in fact the casino will never have cryptocurrency on its account, since at the moment of payment it will be immediately converted to fiat.

[maju69]

I really don't see why they want to have such kind of adoption. The thing here is a vast majority of players still prefer online transactions of fiat which can be sent immediately. QR codes might help the biz to ease putting in long crypto addresses but still you will pay in fiat, or you are just converting fiat to crypto but fiat nevertheless. Going to casinos now still many would prefer bringing hard cash. So there I think it is really more convenience to use cash for the meantime.

It will eventually end up in fiat, all alternatives that are said to be betting with crypto will be exchanged for fiat. Well, fiat is a transaction tool that is prioritized in the form of exchange in its place. So fiat is still an option, even though the gambler is risking all his crypto in the end he will need fiat.

[milewilda]

I think that nowadays few shops and buyers use cryptocurrency for one simple reason - why should they do it if they are satisfied with fiat? The use of cryptocurrencies in online casinos is widespread for obvious reasons, but there is simply no particular reason for the transition to widespread use of cryptocurrencies by physical casinos.

Physical casinos offer a good experience than online gambling, however, due to the pandemic, people learn that gambling online is easier and cheaper, so Physical casinos revenue has decreased due to the restrictions, and for them to survive and stay profitable, they have to compete and operate an online casinos business also.

We should not limit the function of a physical casino, all of them operate for profit, and if they find an opportunity to boost their profit, then they will not hesitate to start accepting crypto as it's popular nowadays.

But the fact that physical casinos will begin to accept cryptocurrency does not mean an increase in its applicability. As I wrote above, casinos will accept cryptocurrency through the 3rd party (possibly an exchange) and in fact the casino will never have cryptocurrency on its account, since at the moment of payment it will be immediately converted to fiat.

Or simply they would really be using current payment processors where depositing crypto and would be converted to fiat immediately since this gambling industry is a business and owners would tend
to accept directly in fiat but this is actually on owners preference but talking about integrating crypto currency into their games then it would surely take a while or wont really be that possible
for these years but talking about acceptance and adoption then we are really surely heading there.

[LUCKMCFLY]

I think it is a matter of people or a representative agent of a crypto casino talking with the owners of a traditional casino, very well you can set up a part of the traditional casino and place a PC that draws a lot of attention for different games, be it roulette, poker, Blck Jack, and being able to carry it out. For this, it can be taken into account that the possible association of the traditional casino wins a considerable percentage so that it likes the option of continuing to put more online casino machines, really no casino has taken this initiative, but it would expand in a great way because it is terrain that has not been explored.

[AmoreJaz]

I think it is a matter of people or a representative agent of a crypto casino talking with the owners of a traditional casino, very well you can set up a part of the traditional casino and place a PC that draws a lot of attention for different games, be it roulette, poker, Blck Jack, and being able to carry it out. For this, it can be taken into account that the possible association of the traditional casino wins a considerable percentage so that it likes the option of continuing to put more online casino machines, really no casino has taken this initiative, but it would expand in a great way because it is terrain that has not been explored.

i guess, this kind of scenario will soon be possible to countries like el salvador as they adopt bitcoin in their system. but for countries who are not yet legally adopting bitcoin in their financial system, would be hard to see crypto in physical casinos. they may set-up bitcoin ATMs within their premises, but not directly using it inside physical casinos.
once physical casinos accepting crypto showed a major boost in their revenue, then, maybe other physical casinos will follow thru.

[madnessteat]

I think that the use of cryptocurrencies in casinos is not as widely used as in online casinos because of the regulators. As soon as we see a working legislation fully regulating crypto assets, the trend of using cryptocurrencies in casinos will increase significantly.

The second factor that slows down this trend is more convenient for casino owners to use fiat, which they can use to avoid taxes.

[Obito]

Oh they will, it's only a matter of time when adoption gets big enough in cryptocurrency that they have to add an option or feature in their casino but given how profitable it is right now, it's probably a long time before they will allow or accept crypto payments.

[KTChampions]

I think that the use of cryptocurrencies in casinos is not as widely used as in online casinos because of the regulators. As soon as we see a working legislation fully regulating crypto assets, the trend of using cryptocurrencies in casinos will increase significantly.

The second factor that slows down this trend is more convenient for casino owners to use fiat, which they can use to avoid taxes.

Yes, if we are talking about a physical casino, then cash is the ideal option for a player at the moment. Crypto is cash in the online world, but nothing in the physical world can compete with fiat cash at the moment. And I see no reason why this situation could change (unless cash will be banned).

[Karartma1]

One of the doable ways for casinos to accept crypto would be that of implementing a payment processor that does the automatic crypto2fiat exchange for them. In that way, the player gambles in crypto but casino receives fiat money, thus reducing any administrative and fiscal risks.
Many of my friends who have shops all around the world do this (alongside keeping crypto with larger transaction amounts in order to avoid MC/VISA/AMEX abusive fees).

[imstillthebest]

Oh they will, it's only a matter of time when adoption gets big enough in cryptocurrency that they have to add an option or feature in their casino

if we will take the physical stores as example they also accept other payment methods and some of this are digital so i believe  that can also happen to physical casinos and they will soon consider cryptos .
 they dont accept cryptos maybe they think that adoption was still small and theres less or no people that suggest them to add cryptos in their casino

but given how profitable it is right now, it's probably a long time before they will allow or accept crypto payments.

why ? because people dont gamble their cryptos when its still profitable ? or the casino wont let the people to earn more ? but i think none of this reasons are correct .

[Obito]

~snip

why ? because people dont gamble their cryptos when its still profitable ? or the casino wont let the people to earn more ? but i think none of this reasons are correct .

No what I'm trying to say is that casinos are already profitable without the help of crypto so I think that it will take a long time for them to consider trying their hands on crypto since they make so much money as I have said earlier.

[Strongkored]

i see this as a business opportunity if they do not to be honest. Just go into a casino, buy some chips and then offer your services as intermediary getting paid in crypto and selling the chips.

You mean this is done by the broker, not by the casino? I've never gambled at a physical casino, is it possible to buy chips to gamble by buying them from someone other than the casino where we want to gamble?

Crypto being accepted at physical casinos is very possible, especially if the country where the casino operates does not prohibit crypto, but maybe one of the casinos' reluctance to accept crypto is that volatily of crypto, when the bearish trend will be a challenge for the casino because their profits can be decrease

[Kong Hey Pakboy]

One of the doable ways for casinos to accept crypto would be that of implementing a payment processor that does the automatic crypto2fiat exchange for them. In that way, the player gambles in crypto but casino receives fiat money, thus reducing any administrative and fiscal risks.
Many of my friends who have shops all around the world do this (alongside keeping crypto with larger transaction amounts in order to avoid MC/VISA/AMEX abusive fees).

There's an existing service like that so I don't think that they will have a reason to delay putting that feature of crypto payment system. Also, this thing takes time and experiments because they have to see if the users will try that service.

[AicecreaME]

There are plethora of online casinos (gambling sites) which accept popular cryptocurrencies like Bitcoin and Ethereum. This is good because you can place your bets anonymously without all of the hurdles involved with Fiat. No KYC, means freedom. The only downside is that you'll be missing the experience of gambling in a real world setting. Physical interaction is not the same as going virtual.

Just wondering how this thing works? I mean if it's done online, then what's the difference between a land based casino and a online casino?

I've been wondering what's been holding back real world casinos from adopting crypto? It is because they fear a government crackdown? Or because of crypto's volatility? With how popular crypto/Blockchain tech is right now, there should be at least one physical casino you can go to and place your bets with crypto. Thoughts?

Most of them are afraid of cryptocurrency volatility, or they just don't want it because they don't know how it works, that's why they stick to fiat only when it comes to betting. Also, not all of their customers would probably use cryptocurrency therefore they don't have a choice but to continue to accept fiat instead of cryptocurrency. I mean, what's the point of accepting cryptocurrency as a bet if nobody on your players are willing to use it.

[imstillthebest]

~snip

why ? because people dont gamble their cryptos when its still profitable ? or the casino wont let the people to earn more ? but i think none of this reasons are correct .

No what I'm trying to say is that casinos are already profitable without the help of crypto so I think that it will take a long time for them to consider trying their hands on crypto since they make so much money as I have said earlier.

ahh okay but maybe physical casinos will consider adding crypto now since their income got lessen because of the covid pandemic and if people heard that the casino supports crypto currency ,
they will do anything to go outside and gamble there . to the casino that are not affected by the pandemic ,
 their earnings are still high but are they going to stop there ? would it be better if they can increase that earnings by the help of cryptos .

[btc78]

The physical casino will soon accept Bitcoin. It's going to be valuable for them like how BTC to ba valuable for the institutions.

but on what process they will gonna accept this? providing machineries that can tabulate cryptocurrencies/
because if you mean accepting bitcoin to buy chips then what is the difference from accepting fiat .

If they serve gamblers online, they should have a cryptocurrency option but this will once again be a possible platform that will require KYC. One thing that Bitcoiner will probably prefer is to just stay and play on the old bitcoin casinos, like the old ones, and leave the physical casino alone. We already have enough platforms asking out data.

old casinos or new , the importance here is which will accept bitcoin as physical casino offers.

and can't wait to bring only my Cellphone in casino houses to be able playing .

[shield132]

There are plethora of online casinos (gambling sites) which accept popular cryptocurrencies like Bitcoin and Ethereum. This is good because you can place your bets anonymously without all of the hurdles involved with Fiat. No KYC, means freedom. The only downside is that you'll be missing the experience of gambling in a real world setting. Physical interaction is not the same as going virtual.

I've been wondering what's been holding back real world casinos from adopting crypto? It is because they fear a government crackdown? Or because of crypto's volatility? With how popular crypto/Blockchain tech is right now, there should be at least one physical casino you can go to and place your bets with crypto. Thoughts?

Ny KYC can be easily implemented on fiat but no one will ever do that, instead, KYC is implemented on almost everything and bitcoin being the cryptocurrency doesn't mean that it will be KYC free. Every government knows what cryptocurrencies are and what's their purpose, so, don't expect that you'll keep your anonimity while using the crypto. There are some casinos going to accept it but as the demand on it grows in real life casinos cases, then I believe they'll start work in it with the government to accept them in a regulated way. You'll be verified and then you'll be able to use bitcoin, I guess...