Will physical casinos accept crypto someday?

[Peanutswar]

I guess they will not because most of the physical casinos are just regulated the paper money or the current currency they have in their country again the cryptocurrency is a volatile thing so they did not consider this. But i think in the future if the wide adaptation of the cryptocurrency becomes accepted for sure most of the businesses will adopt this kind of payment method but for now, they will not accept it yet. Still, we have online gambling casinos today already accepting and supporting the use of cryptocurrency payment.

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[TravelMug]

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.

Yeah, wasn't aware that there is at least one casino accepting bitcoin to their guess and what's surprising is that it is located in Cyprus. I was expecting like US based casino, anyhow, this is a good use case, if ever they continue to accept it or if there are customers willing to try and used bitcoin. As we all know bitcoin is getting precious by the minutes and majority of us are holders although there are still gamblers who still uses it (like me), but with not that huge amount of fiat equivalent.

[Reid]

I believe the first reason that you said is what they fear. A government crackdown.
We can't deny that if one physical casino starts it, a virus will be spread. Others will try to do the same that could lead to mass adoption.
They won't even try to scratch the surface that could lead to attacks from the government and would give them a difficult time from taxes to any reasons, even the unjust ones.

[smyslov]

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.

It's good to know that we have at least one excerpt in the article

It’s nice to see that at least one land-based casino is willing to take Bitcoin payments. But it’s also discouraging for cryptocurrency users to find out that only one casino in the world offers BTC gambling.

at least we have one in case there are other casinos that would like to implement betting through Cryptocurrency, they will get an inspiration to this casino and might contact them for consultation on implementation.

[Zilon]

Physical casinos might not adopt the use of crypto currency because it will prompt the development of an online exchange. Crypto casino is more appreciated online, except the physical casinos would decide to have an online alternative for gamblers who would prefer funding with crypto currency because without an exchange it would be a bit complicated calculating a  game won and it's payout

[Oshosondy]

If countries are becoming more friendly to cryptocurrencies, it is possible physical casinos and other gambling sites will accept cryptocurrencies, this is not an issue but the issue is cryptocurrencies are online and suitable to use online, it is very possible most or almost all the customers that are making use of the casino may not use cryptocurrencies and prefer using fiat. If you check very well, you will know that the casino customers do not make use of electronic fiat transactions but prefer paper fiat and other substances that are physical like gold, fiat are suitable for them for this kind of purpose, I do not think enabling it will be successful.

[aioc]

We only have one now, Cryptocurrency is a work in progress, there will be more if there are demands, but right now it's much easier to gamble offline on these casinos because of the readiness of cash, gambling casinos, don't want the hassle of technicalities like traffic congestion and volatility of the price, they have a mindset of why fix when it's not broken.

[LogitechMouse]

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?

Government.
Slow Transaction fees.

IMO, I don't think that the volatility is one of the reason why casinos aren't accepting crypto right now. The Government might be the main reason why they aren't accepting. Casinos are paying huge taxes and if they will accept crypto, they will be exempted in huge taxes since there isn't any regulation with cryptocurrencies (correct me here if I'm wrong) . Another is the transaction fees maybe but I don't think that it affect that much especially if you give the transaction hash or ID to the cashier or any representative of the casino.

I just taught this reason but maybe another reason is there are some who aren't that knowledgeable when it comes to crypto. I know that it is becoming popular but still, there are some people who doesn't know at least the basics of it and this might be another reason why they aren't accepting it.

[aysg76]

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?

Casinos in crypto friendly nations might be willing to accept crypto payment otherwise not any positive signs.But we don't need them actually and pretty well gambling on crypto casino online just from my home and recently the online industry is one the Verge of rising and crypto gambling is becoming quite popular these days and if you have choice of playing over there why look for some physical options when world has taught you isolation is not that much boring if have interesting options with us.But when it becomes mainstream like in El Salvador and other countries you could probably use it as currency and go to any casino and buy chips by just scanning your QR code and boom you are on your table with other players.

[KTChampions]

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.

Sure. Even when using stablecoins, the casino will instantly convert it to fiat. Their business is located in the fiat zone, so it makes no sense for them to have other assets on the balance sheet. This is neither bad nor good, it is just a feature of a physical casino operating in a fiat zone.

[virasog]

We only have one now, Cryptocurrency is a work in progress, there will be more if there are demands, but right now it's much easier to gamble offline on these casinos because of the readiness of cash, gambling casinos, don't want the hassle of technicalities like traffic congestion and volatility of the price, they have a mindset of why fix when it's not broken.

Mostly crypto currencies is accepted in online stores and in online gambling sites. There is no trend of crypto being accepted in physical stores on gambling casinos. Once the crypto become more popular i hope it will be accepted in all physical gambling houses.

[Jackl87]

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 see no reason why they shouldn't accept cryptocurrencies. In my opinion, it would also be a minimal effort for the casinos to accept cryptos as a means of payment. They would only have to set up different wallets and that would be it. So you would enter the casino, go to the counter, send the amount of tokens or coins that you want to the wallet address that is given to you and done. If casinos are afraid of volatility issues they could at least accept stable coins like USDT or USDC. One problem could be though that you have to wait for a few minutes for your transaction to go through when the ETH network is congested, so this could be annoying.
I also think it is safer for casinos to accept cryptos as payment because this way they have less cash lying around.

[BuNga_cute]

We only have one now, Cryptocurrency is a work in progress, there will be more if there are demands, but right now it's much easier to gamble offline on these casinos because of the readiness of cash, gambling casinos, don't want the hassle of technicalities like traffic congestion and volatility of the price, they have a mindset of why fix when it's not broken.

Mostly crypto currencies is accepted in online stores and in online gambling sites. There is no trend of crypto being accepted in physical stores on gambling casinos. Once the crypto become more popular i hope it will be accepted in all physical gambling houses.

Although right now there are not many requests from gamblers for physical casinos to accept crypto, as time goes on and crypto is gaining popularity.
I believe eventually physical casinos will consider accepting crypto, because maybe now accepting crypto is considered not to provide benefits for
the casino. So there are no physical casinos that accept crypto at this time, actually depends also on the rules of the country where the physical
casino is located. Because if the country where the physical casino is located prohibits crypto, will not be able to physically casino accept crypto.

[imstillthebest]

theres is one if i remember but i forgot the name of that gambling company  .
it was also posted here in gambling forums but i guess that the number of similar hybrid casino have increase now because crypto is not a secret anymore .
 i dont think owners have a fear of cryptos being volatile because theres a solution to that but they dont accept crypto maybe because it was banned by their governments .

[RokokGudangGaram]

Why not? In that way they would be maximize the number of possible customers and with the pandemic right now I really think it would be all digitalized, or I mean less physical contact in Casino but if that happened what will happen to the online casinos? I think there's a difference between physical casino and online casino, I still prefer physical casino rather than online casino though.

[bitzizzix]

Careful consideration is required if physical casinos bet using crypto as players are unlikely to wait long to play due to time-consuming transaction processing and even if the internet network is unstable and it will really require consideration that there must be a best solution for fast playing and comfortable gambling.
and besides that the government is still not friendly with kritpo and even prohibits it, and if possible it still takes a very long time and process so that no one is harmed or unexpected mistakes.

[hahay]

Yes, maybe someday because we know that there are big companies that have accepted Bitcoin as a means of payment, with this movement it is very possible that physical casinos will have many alternatives because they accept several existing cryptocurrencies. But if online gambling continues to be more popular then I guess, instead of physical casinos involving crypto it looks like physical casinos will be more interested in creating gambling sites as well, that way they can be involved in both worlds, right.

[Rruchi man]

The adoption of cryptocurrency in physical casinos is sure to happen but not immediately. We're still really early in the crypto revolution 😁 I do think that unless both deposits and pay outs are made exclusively via crypto then it would be absolutely unnecessary to use to Fiat and cryptocurrency in physical casinos. However, once they can solve the regulation and infrastructure issues associated with crypto use, they'll be good to go.

I read sometime ago that  CryptoChip , is  offering CryptoChipping exchange service, they are converting cryptocurrency to physical based casino chips. Has the official ICO been published yet?

https://bitcointalk.org/index.php?action=profile;u=1018069;sa=showPosts

[rhomelmabini]

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 guess it's possible but it will have a tight regulators or there's huge demand for operators to accept cryptos. Most likely what scares them was the regulators like FinCEN that was pressuring most physical casinos 'cause they are that strict especially to AML issues on the gambling side. I think regulations will here to stay and crypto isn't gonna end for good in the short term but physical casinos are missing something if they wouldn't grab the opportunity?

[Renampun]

...

it must have been a great experience if we could use cryptocurrency to gamble in offline casinos...

how can offline casinos reject cryptocurrencies when it is mass-adopted. Crypto players who are used to playing online will definitely be very easy with this and can be a fun experience.