Will physical casinos accept crypto someday?

[Questat]

Physical casinos are regulated, they can offer online gambling as well with different guidelines, and eventually, in the future, the regulators will be strict in implementing the KYC whether you are using fiat or crypto online and both can be used for money laundering. The fact that big countries are already putting a tax on crypto transactions, we will likely see a uniform implementation in the future and the so-called "anonymous betting" that we enjoyed today, might be gone tomorrow.

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[Ryker1]

Thoughts?

^[snip]
Offline casinos is business with a lot of regulations.

Well that is right, -- this was the hindrance in bitcoin that can be used in gambling casinos offline. Most likely they had a heavy regulation and as we know bitcoin is unregulated it is hardly believed that bitcoin can be used in offline casinos. But we don't know what will happen next, perhaps bitcoin will be accepted in most casinos and we can use our holding bitcoin to play slot games offline. It is too early to predict and we don't know what will happen next --but believe me, bitcoin has more progressing adoptions right now, it could be yes or no but let us hopefully wait.

[Kelvinid]

Physical casinos are regulated, they can offer online gambling as well with different guidelines, and eventually, in the future, the regulators will be strict in implementing the KYC whether you are using fiat or crypto online and both can be used for money laundering. The fact that big countries are already putting a tax on crypto transactions, we will likely see a uniform implementation in the future and the so-called "anonymous betting" that we enjoyed today, might be gone tomorrow.

And I believe that it can be stricter in the future knowing how money laundering has become rampant in the community these days and eventually, they are using casinos to help them out and keep them anonymous. But I'm still believing that they will accept crypto in the future as an option as long as a player will abide by their rules and done with their KYC.

[johhnyUA]

It is too early to predict and we don't know what will happen next --but believe me, bitcoin has more progressing adoptions right now, it could be yes or no but let us hopefully wait.

I think you will need to wait plenty amount of time. And this doesn't matter how much adoptions bitcoin or any other cryptocurrency has. Just because of main reason described above in my post. That's all

[goinmerry]

I see no reason why a physical casino would not accept cryptocurrency. I think in the future most casinos will do this, but I am 100% sure they will accept payment through the 3rd party (some exchange) that will instantly convert the cryptocurrency into fiat for the casino. I don't think the casino would be interested in keeping its funds in cryptocurrency.

That will be the logical thing that will happen. There will be a 3rd party that will convert the crypto into fiat right away, not a direct crypto payment in the casino. It's like using a credit or debit card but loaded with crypto.

Land-based casinos don't want to take chances on crypto because of its volatility. They are a big business and want a stable form of investment.

[just_Alice]

1. There’s a partial and, IMO, optimal solution - live casinos. It offers interesting experience, something in the middle between online and physical, and no problems with crypto usage.

2. How do you imagine crypto bets implemented offline? You buy real chips with crypto? Then why don’t just use cash to avoid revealing ID? Or everyone sitting at the real table will be using phones to make bets?
And is there really a sense in it? I mean, you’re sitting in there, probably being recorded by cameras and it’s possible that your ID will be required as you enter, anyone can recognise you. So what’s the point?

[Hippocrypto]

Hopefully, in due time we will be able to see physical casino undergo into adoption which caters cryptocurrency as one of their gambling currency which is a good alternative for betting.
On this technical idea, many methods will conveniently change in a way that cashless account would probably be used as the best and efficient ways to deal with your lucky winnings.
Both fiat and digital currency will be merged, in that ways people will eventually adopt in the long process.

[robelneo]

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?

I'm sure many people are wishing physical casinos will accept Crypto as bets, but so far they can only have Crypto ATM in their place and Vegas has ATMs in their location unfortunately these gambling capitals of the world are not yet ready to accept bets in Cryptocurrency, because they will have to change the system which is already implemented since the day they set up their casinos, if ever we will have one that will probably come from a new company who wants to set up a system that will accept Cryptocurrency as a bet.
It's a big challenge but if one casino succeeds we will have more coming up.

[Rengga Jati]

Although sometimes Bitcoin is legal in certain countries, many industries especially gambling still don't consider it as one of the payment methods for the payment transaction that is sometimes not as fast as cash, debit, or credit or other kinds of payment.
Additionally, they may still also consider another risk to have payment with Bitcoin where if they accept the payment at the high rate and then the price of BTC drops drastically quickly, they will think that they lose some of their money.

But, we don't know even the future.
Maybe, there will be other considerations and interests from some offline gambling to consider and accept Bitcoin.

And here, maybe it can be good news in the future
https://www.gamblingsites.org/blog/land-based-casinos-looking-to-accept-bitcoin-for-slot-machines/

[chaser15]

Even it will be implemented, I doubt many will use it. Why should we convert our crypto just to play in fiat-based casinos if we can use it directly to where it should be, crypto-casinos.

If we plan to go into physical casinos, just convert to fiat in our own way. We can choose too on what rate we can convert at any time unlike in a physical casino, you are forced to sell and convert your crypto at that time just to play there.

[Fredomago]

Hopefully, in due time we will be able to see physical casino undergo into adoption which caters cryptocurrency as one of their gambling currency which is a good alternative for betting.

yeah it goes to digital currency categories, very possible to see crypto since there are more and more online gambling site who are enjoying the benefits of this system, sooner or later physical casino will adopt this system and start accepting it as alternative to fiat.

On this technical idea, many methods will conveniently change in a way that cashless account would probably be used as the best and efficient ways to deal with your lucky winnings.

cashless also avoid bringing physical fiat which endangered gamblers securities. With digital ways, there's no need to bring anything
just the device where you store your assets,.

Both fiat and digital currency will be merged, in that ways people will eventually adopt in the long process.

With crypto existence, there's a big chance that adoption will take place and even gambling industry will acknowledge this system.

[Johnyz]

In the future they might be but for now, there’s a higher chance for online casinos to accept crypto aside from fiat money.

Aside from crypto gambling site we know that your local casinos also have their own gambling site, so crypto might be one of the option for them subject for regulations. If crypto is legal in your country, the probability are much higher.

[Lanatsa]

Isnt already been adopted?

Properties like The D Hotel and Casino and Golden Gate Hotel and Casino currently accept Bitcoin and allow customers to pay for dining, hotel reservations, items at the gift shops and the front desk.
Vegas Auto Gallery, which caters to high end customers and luxury cars, also take Bitcoin as payment.

Link source: https://www.ktnv.com/13-investigates/bitcoin-bonanza-cryptocurrency-soars-in-value-las-vegas-casinos-business-embrace-it

[arallmuus]

With crypto existence, there's a big chance that adoption will take place and even gambling industry will acknowledge this system.

Thats not going to happen unless crypto is part of the legal tender for the country. A casino in El Salvador will most likely accept bitcoin because its a legal tender there so there is no reason to deny it.

Most people seems to treat crypto as an asset instead of currency so there is no chance that it will be accepted in a casino. If gold bar isnt accepted in a casino then chances are slim that crypto is going to be accepted as well. Some casino probably will accept it but majority wont

[TimeTeller]

Isnt already been adopted?

Properties like The D Hotel and Casino and Golden Gate Hotel and Casino currently accept Bitcoin and allow customers to pay for dining, hotel reservations, items at the gift shops and the front desk.
Vegas Auto Gallery, which caters to high end customers and luxury cars, also take Bitcoin as payment.

Link source: https://www.ktnv.com/13-investigates/bitcoin-bonanza-cryptocurrency-soars-in-value-las-vegas-casinos-business-embrace-it

As far as I understand, they are not yet directly accepting bitcoin inside the casino (games) but only in other services like what you mentioned.
It is not yet integrated in casino games like slots as they are still thinking how they can integrate crypto.
But as mentioned above, maybe the direct acceptance of btc or any other crypto is possible, like in El Salvador.
But right now, crypto payment is only possible with other casino services but not yet in their in-house games.

[dunfida]

Isnt already been adopted?

Properties like The D Hotel and Casino and Golden Gate Hotel and Casino currently accept Bitcoin and allow customers to pay for dining, hotel reservations, items at the gift shops and the front desk.
Vegas Auto Gallery, which caters to high end customers and luxury cars, also take Bitcoin as payment.

Link source: https://www.ktnv.com/13-investigates/bitcoin-bonanza-cryptocurrency-soars-in-value-las-vegas-casinos-business-embrace-it

As far as I understand, they are not yet directly accepting bitcoin inside the casino (games) but only in other services like what you mentioned.
It is not yet integrated in casino games like slots as they are still thinking how they can integrate crypto.
But as mentioned above, maybe the direct acceptance of btc or any other crypto is possible, like in El Salvador.
But right now, crypto payment is only possible with other casino services but not yet in their in-house games.

For sure those bitcoins would be still need to be convert out to fiat or chips and its not directly talking about implementation on in-house games just like what you said but this is actually a good add up since you can make use of your coin on that aspect but i dont see that it would be possible soon for it to be applied on those games where we know that such alteration is nearly impossible imho or might really took a very long time.

[Woodie]

Some of these extra services are not really up to the casino itself, it's you the customer that makes these services possible should you keep requesting for them, and they will come due to popular demand.
Fyi the future looks more than ready to see more businesses not only casinos accepting crypto but this will happen if our ecommerce platforms can take this up and prove that it works.

[Wexnident]

There are quite a few issues with adopting crypto as payment right now, even more so considering it as one of the main payments. They may create a system for it now, but honestly, I doubt it would be used THAT much. It just isn't a mainstream method of payment YET imo. Issues include transaction speed, fees, and in general, the number of users that would actually use it. It isn't actually wrong to say that most people see Bitcoin as a way to store their money or as an investment, and not as a currency yet.

[fortunecrypto]

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?

The crackdown is the least of the concern volatility is and how to set up the system, some transactions take time to arrive, when you are betting with chips there is no waiting time to consider, and it takes out the excitement when there are delays in the transaction, but who knows the probability is high that one gambling casino will take up the idea and set it up, there's a huge market on this.

[Darker45]

I've stumbled upon this news written three years ago. At that time, there was accordingly only one brick-and-mortar casino which accepts Bitcoin for actual gambling. Other casinos have been accepting Bitcoin but not for placing bets. Even Las Vegas casinos have already been accepting Bitcoin as payment for several years already, but such is only limited to restaurants, gift shops, and so on, not on the gambling floor.

Merit Hotel Nicosia in Cyprus is different in that it actually offers Bitcoin gambling to its guests using Bitstamp's Bitcoin price. So there's at least one brick-and-mortar casino accepting Bitcoin bets.