Will physical casinos accept crypto someday?

[Dread Pirate Roberts]

This is totally wrong. Physical casinos can add crypto as their payment method without the government's approval. It's the same as other business that accepts crypto as their payment method.

It depends on which country you are talking about . in some countries the regulation of crypto is clear that crypto cannot be used as payment. if caught by the government and their business is running legally in the country, there will definitely be problems for them later for violating government rules and policies.

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[boyptc]

That's a good idea and yes there's a possibility that soon they might accept cryptocurrency or probably have their own cryptocurrency that you can use to their own casino it would be a cashless or chipless casino it's not impossible because of the current pandemic that we have.

But aren't they making a decent money already so I don't see how they are going to adopt it when it's going to be all the same? Although I do hope that they will adopt because I do think that there's some experience that an online casino can't replicate that is unique to a physical casino.

I don't see any contradiction if they're simply going to adopt and accept deposits and payments with cryptocurrencies.

In fact, most of these physical casinos are aware of the existence of online casinos that are accepting cryptocurrencies. They are dealt with adoption and it's an inevitable thing to happen for most of them.

That's what I think because cryptos are in mainstream.

[milewilda]

This is totally wrong. Physical casinos can add crypto as their payment method without the government's approval. It's the same as other business that accepts crypto as their payment method.

It depends on which country you are talking about . in some countries the regulation of crypto is clear that crypto cannot be used as payment. if caught by the government and their business is running legally in the country, there will definitely be problems for them later for violating government rules and policies.

Regulation does differ on each country thats why we would see different takings or decisions in regards to this matter.If we do talk about acceptance of crypto payments then there are already some establishments or casinos been accepting crypto payments but if we do talk about integration into games itself or literally playing or earning crypto into those machines then it isnt really possible nowadays.
We wont know on what would happen in the future and lets see if there would be some probabilities on such changes but of course it would really be needing first some recognition.

[magneto]

It depends on which country you are talking about . in some countries the regulation of crypto is clear that crypto cannot be used as payment. if caught by the government and their business is running legally in the country, there will definitely be problems for them later for violating government rules and policies.

Actually, no.

In most countries there is absolutely nothing wrong in terms of accepting crypto. And after all, who can stop you if you wanted to accept crypto as a form of payment for private transactions?

Regulations of crypto generally is imposed on financial institutions, not retail venues. I don't think that there will be a huge regulatory concern over casinos accepting crypto per se, so long as the casinos abide by the KYC/AML legislations - there will likely be a bigger problem with accepting/paying winnings in cash.

[Japinat]

It depends on which country you are talking about . in some countries the regulation of crypto is clear that crypto cannot be used as payment. if caught by the government and their business is running legally in the country, there will definitely be problems for them later for violating government rules and policies.

Actually, no.

In most countries there is absolutely nothing wrong in terms of accepting crypto. And after all, who can stop you if you wanted to accept crypto as a form of payment for private transactions?

Regulations of crypto generally is imposed on financial institutions, not retail venues. I don't think that there will be a huge regulatory concern over casinos accepting crypto per se, so long as the casinos abide by the KYC/AML legislations - there will likely be a bigger problem with accepting/paying winnings in cash.

If they are under regulation, they need to require the KYC to their clients, but crypto is decentralized while fiat is not, that's why some countries have more strict regulation on crypto so they can really trace the origin of the transaction as that is need for Anti Money Laundering reporting.

[Fredomago]

If they are under regulation, they need to require the KYC to their clients, but crypto is decentralized while fiat is not, that's why some countries have more strict regulation on crypto so they can really trace the origin of the transaction as that is need for Anti Money Laundering reporting.

They need to add strict rules but both ends with KYC/AML legislations as long as the casino provide this info business will continue to run, t's just an additional job for those who will accept crypto since decentralizations is really hard to regulate without adding KYC, money laundering will keep haunting them from the government.

More on the casino owner's side. Before they accept and adopt the system, they need to comply with every government rule.

[blockman]

If they are under regulation, they need to require the KYC to their clients, but crypto is decentralized while fiat is not

Yeah, that defeats the purpose of cryptocurrencies if they're going to ask for KYC. But it's a physical casino so that's to be expected that they will implement that whether it's going to be fiat or crypto.

that's why some countries have more strict regulation on crypto so they can really trace the origin of the transaction as that is need for Anti Money Laundering reporting.

There has been a lot of news that I've watched in the past that there were transactions happening in the premises of the physical casinos and these deals include money laundering. It happens for most physical casinos and it involves every possible person that migrates just to have this purpose of their arrival.

[Viscore]

More on the casino owner's side. Before they accept and adopt the system, they need to comply with every government rule.

That's correct because there's a big penalty for the certain violation, and ignorance of the law excuses no one, so being a business operators, they need to be fully educated with the government laws in running a physical casinos that accepts both fiat and crypto.

[ShowOff]

They need to add strict rules but both ends with KYC/AML legislations as long as the casino provide this info business will continue to run, t's just an additional job for those who will accept crypto since decentralizations is really hard to regulate without adding KYC, money laundering will keep haunting them from the government.

More on the casino owner's side. Before they accept and adopt the system, they need to comply with every government rule.

I still think that crypto adoption in physical casinos requires providers to comply with KYC/AML rules for gamblers for the purpose of preventing cases of money laundering and other illegal transaction. This may be a pros and cons among gamblers as not all of them will be willing to provide personal data just because they want to gamble in a physical casino.

Does KYC/AML for those using crypto in physical casino make sense for those of you who gamble at physical casinos a lot?

[Yamifoud]

They need to add strict rules but both ends with KYC/AML legislations as long as the casino provide this info business will continue to run, t's just an additional job for those who will accept crypto since decentralizations is really hard to regulate without adding KYC, money laundering will keep haunting them from the government.

More on the casino owner's side. Before they accept and adopt the system, they need to comply with every government rule.

I still think that crypto adoption in physical casinos requires providers to comply with KYC/AML rules for gamblers for the purpose of preventing cases of money laundering and other illegal transaction. This may be a pros and cons among gamblers as not all of them will be willing to provide personal data just because they want to gamble in a physical casino.

Does KYC/AML for those using crypto in physical casino make sense for those of you who gamble at physical casinos a lot?

The question is, do we like crypto to be regulated? if yes, then all transactions related to cryptocurrency will be regulated and regulations comes with a lot of rules, the most basic one is KYC for AMLC requirement.

[topbitcoin]

In my mind, maybe it will not far from payment. There are no physical casino in my country, but seeing how casino works maybe in future they allow we to convert our money to chip with cryptocurrency, either with convert chips to money via cryptocurrency that we can save directly in our mobile phone. Maybe in big countries who have physical casino in theirs, only need cryptocurrency can be used as digital payment same with fiat.

[ReiMomo]

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?

Might be, they might miss out the real fun from betting with physical currencies and having hard time in managing as an escrow when crypto currencies are accepted and should be responsible for legal and genuine transactions. But yes, can bring in ambiances and systems to easily handle in these tough thought exercises. I am sure, slowly they would start adapting crypto so when mass adaption happens.

[finaleshot2016]

If and only if the country have already accepted cryptocurrency as a normal payment method and most of the establishments are now accepting crypto. I think that's the best possible situation where even a physical casino will now accept crypto to bet. But I guess it'll take a lot of time before it happens since some are people are still into fiat and crypto are being used as an investment asset only.

[LUCKMCFLY]

I have a friend who is an entrepreneur and who has a casino in Colombia, I know him because I have made some appraisals, and I commented to him about what he thought about the issue of online casinos and if he was willing to accept a possible alliance with a casino and That he put a PC so that people could play and he did not refuse, in fact his response was very receptive, although he always emphasized that he has to generate profit for him too, but that they have never made that kind of proposal, which in these times You cannot deny technology and everything that concerns it.

[zanezane]

God I hope that they accept it someday, I feel like they're progressive in terms of new technology so I think that they will consider and finally add them someday that kind of payment system. They can probably multiply their profit because they can just store the crypto that they accept since they still profit a lot without the crypto.

[iv4n]

If and only if the country have already accepted cryptocurrency as a normal payment method and most of the establishments are now accepting crypto. I think that's the best possible situation where even a physical casino will now accept crypto to bet. But I guess it'll take a lot of time before it happens since some are people are still into fiat and crypto are being used as an investment asset only.

Well, fiat casinos are obligated to follow the regulations of the country where they are operating! It's why before casinos a country should regulate Bitcoin usage in some way first, that can open the door for casinos to accept Bitcoin!
I agree with you, it will take a lot of time before this happens, but I guess some casinos in some countries will do it sooner than others, of course! Some countries are progressive!

[xSkylarx]

God I hope that they accept it someday, I feel like they're progressive in terms of new technology so I think that they will consider and finally add them someday that kind of payment system. They can probably multiply their profit because they can just store the crypto that they accept since they still profit a lot without the crypto.

It will, but I'm not sure what the fees will be if they accept it, and hopefully they'll be able to catch up when the price spikes unexpectedly. This is a benefit to those who have crypto and will have no effect on those who do not, but can you imagine the innovation that most casinos are putting into technology that could lead to success? We believe this will happen in the future because, as we all know, cryptocurrency is becoming increasingly popular, and there is no reason why they will not accept it as a form of payment.

[panjul07]

Whether physical casinos is going to accept crypto or not, it has no effects for me as a gambler who live in a country where gambling is something prohibited.
The existence of online casinos (both fiat and crypto) is more than enough for me.
My hope for now is about the chance for me to see a new or a change in local law where gambling is something legal.

[Alisha-k]

God I hope that they accept it someday, I feel like they're progressive in terms of new technology so I think that they will consider and finally add them someday that kind of payment system. They can probably multiply their profit because they can just store the crypto that they accept since they still profit a lot without the crypto.

Some day physical casinos will but it would be a bit manipulative for the start and their exchange wouldn't be reliable. It will operate more like the normal fiat physical casinos demanding for KYC verification and since it's crypto so many other verification forfieting the privacy associated with crypto currency even ready to hand the gambler over to government authorities in cases where gambling funds were gotten through fraud

[ipanks]

God I hope that they accept it someday, I feel like they're progressive in terms of new technology so I think that they will consider and finally add them someday that kind of payment system. They can probably multiply their profit because they can just store the crypto that they accept since they still profit a lot without the crypto.

They will accept it someday after the government accept it. They can only prepare their system to integrate with crypto and are just waiting for the next update from the government. If they can expand their business into the internet and build a new interface using the internet, maybe they can use crypto as a trial for their members and try to promote in many places to attract more people to test their payment system, which integrates with crypto. They will multiply their profit if they can use crypto as an asset after getting so many coins from gamblers who use it for gambling.