Will physical casinos accept crypto someday?

[Cling18]

Maybe physical casinos are still comfortable with the current currency that they're using since it provides convenience. As for me, they always consider the welfare of their players before switching to other currencies but I believe that it could still possibly happen in the future since Bitcoin and other top coins are being adopted by some casinos.

[AverageGlabella]

Confirmations would be a pain for the casinos as they could not give you your winnings until confirmations of at least 2 were on the blockchain. I do not think Bitcoin works quick enough or well enough to become the main currency in a casino they will probably allow you to purchase chips with bitcoin because that would then remove the delays with Bitcoin when you are gambling.

[iv4n]

I guess we can expect this to happen with legit casinos, one day they will start accepting crypto, that will come right after governments regulations. But casinos that have an illegal side will (money laundering, dealing with dirty money...) will not give up on cash... We all know how things work with cash.
After all, crypto is like money, if there's enough customers who wants to gamble with crypto in the land-based casino someone will make that possible for them.

[Saisher]

After all, crypto is like money, if there's enough customers who wants to gamble with crypto in the land-based casino someone will make that possible for them.

If there's demand and there is a market and potential profit for developers and investors, they will likely look for it, they will do a feasibility study to check if it's worth creating physical casinos that only use Cryptocurrency, I like the idea, if one or two companies can start this we will have an industry and many more companies will follow.

[danherbias07]

IMO, it's still volatility that they fear just like how the merchants fear it. I have no idea how online casinos are managing the volatility but they are doing pretty good at keeping their businesses alive. What could be the secret? Is it the withdrawal fees? Up until now we could not see a big growth in adoption of crypto currencies as payment methods and I do think it will just happen if the government itself will start the change.
How cool would it be to use Bitcoin to start playing and it will be exchange for chips embedded with the bitcoin sign? That will be worthy to keep if permitted.

[qwertyup23]

It is still a process that is still opening up. The system is not totally free now as you still have restrictions even with online casinos that ask for KYC. Physically, you have some government making hate speech about cryptocurrency except the government that are adopting like El Salvador, it can commence from there but is a gradual process and casino is yet to be a popular physically gambling setting to start adoption of cryptocurrency. It could take more 5-10 years for that to start happening.

I think the process of achieving acceptance of cryptocurrencies solely depends on the government. If they see that cryptocurrencies are a threat to the economy or to the country, then this would affect its overall acceptance. This also applies to physical casinos in accepting cryptocurrencies as a payment.

Like what you have mentioned, lots of online gambling websites require KYC documents due to stringent regulations imposed by their respective government. Since online gambling websites can easily get away due to their nature, physical casinos, on the other hand, have much further stringent rules- that is why we won't see physical casinos accepting cryptocurrencies in the near future.

[Dread Pirate Roberts]

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 think if the regulations are clear, modern offline casinos will also have the option of buying chips with crypto. right now not all regions allow crypto as a legal payment. I'm sure that many offline casinos also want to adapt bitcoin but limited by regulations because it's proven that online casinos are very crowded and in demand at this time. They definitely want to follow what is popular in casino bussiness.

[jrrsparkles]

Yes, for sure. If crypto currencies becomes the widely used payment medium then it is not going to be an exception in the physical casino. I heard that there are some underworld casinos are accepting bitcoin and other popular cryptos for making bets but unfortunately those things are unregulated so we can't find any information in the public domains.

[Slow death]

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?

1 - real world casinos operate by law, so to accept cryptocurrencies they would need to look at regulatory issues

2 - real world casinos have a customer base that probably doesn't know about cryptocurrencies, they are people who feel pretty good about using fiat, so casinos would have to have a solid customer base that likes cryptocurrencies in order for the casino to place cryptocurrencies

3 - the real world casinos would have to spend money to hire an employee who would implement and manage all the infrastructure that was necessary to accept the cryptocurrencies

[electronicash]

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?

1 - real world casinos operate by law, so to accept cryptocurrencies they would need to look at regulatory issues

2 - real world casinos have a customer base that probably doesn't know about cryptocurrencies, they are people who feel pretty good about using fiat, so casinos would have to have a solid customer base that likes cryptocurrencies in order for the casino to place cryptocurrencies

3 - the real world casinos would have to spend money to hire an employee who would implement and manage all the infrastructure that was necessary to accept the cryptocurrencies

how they may adopt cryptocurrency i think will also need the change of games. if the traditional casinos will only accept coins like BTC in exchange for chips, it's easy to do and they can do it today.

but if they integrating games where gamblers will scan QR codes using their phones to the slot machines or to the roulettes, that's quite a work. i'd be very curious how it will work out.

[magneto]

Almost guaranteed in my opinion.

It'll be a matter of time before the lines between physical and virtual casinos blur. Physical casinos like those on the Vegas strip will likely increasingly adopt technologies that push their operations online, especially after this pandemic hit.

Nobody wants to carry around a chip or even a card anymore in a physical casino. And with the inevitability of virtual-physical casino integration, companies will take a serious revenue hit if they fail to keep up with the crypto adoption trend.

[michellee]

The regulation from the government is holding back the offline casinos from adopting crypto because the casino does not want to break the law from their government. They need more time to wait for adopting crypto for their casino and maybe it will not happen in a short time depend on how their government reacts to the crypto. If their government can accept crypto and many people use crypto, the casino can start to integrate their system using crypto. But I am sure the casino already learn about crypto and probably, they also invest in crypto secretly.

[Oasisman]

They won't worry much about government crack down especially when their government and central bank recognizes Cryptocurrency. However, they still need to get permission If they want to accept crypto as a form of betting.
But, I don't see physical casinos allowing bet with crypto, because that could be a burden for the bettors paying extra for the tx fees every bet. The most possible scenario for this would be the physical casinos accepting crypto to buy their chips.

[Chato1977]

i though there are already casinos that accept crypto ? but as deposit to acquire chips but there are still no machines available for crypto playing gambling.

Yes, for sure. If crypto currencies becomes the widely used payment medium then it is not going to be an exception in the physical casino. I heard that there are some underworld casinos are accepting bitcoin and other popular cryptos for making bets but unfortunately those things are unregulated so we can't find any information in the public domains.

Yes , there are big chance to make this possible because crypto is the most promising and in demand electronic currency now.

[btc78]

They won't worry much about government crack down especially when their government and central bank recognizes Cryptocurrency. However, they still need to get permission If they want to accept crypto as a form of betting.

Bad thing on this if the government of the said casino is corrupt because for sure that   casino will be burden from the gambling community.

But, I don't see physical casinos allowing bet with crypto, because that could be a burden for the bettors paying extra for the tx fees every bet. The most possible scenario for this would be the physical casinos accepting crypto to buy their chips.

There are exchange/wallet that requires no tx fee when sending , like on our country that sending bitcoin in the same wallet there is no fee if the same wallet sending and receiving .

[cabron]

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

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.

[Poker Player]

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

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.

No, I don't think it's too soon. Unless by "soon" you and I mean two different things. Think about one thing, in which physical store do you go and you can pay with cryptos? There are very few today. I think that hopefully we can wait for the next cycle, if in this one institutional adoption takes hold and we keep moving towards mass adoption.

[robelneo]

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

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.

No, I don't think it's too soon. Unless by "soon" you and I mean two different things. Think about one thing, in which physical store do you go and you can pay with cryptos? There are very few today. I think that hopefully we can wait for the next cycle, if in this one institutional adoption takes hold and we keep moving towards mass adoption.

We never know but it may not be Bitcoin or other coins or a new system created that will make transactions faster specifically for gambling without these very high fees that accompany each transaction, more than ten years ago we never know anything about online peer to peer that can track transaction or even decentralization, the Cryptocurrency technology is evolving and will continue to evolve to serve the needs of its industry,

“necessity is the mother of all innovation”

if there's a market, the entrepreneurs will find a way.

[KTChampions]

No, I don't think it's too soon. Unless by "soon" you and I mean two different things. Think about one thing, in which physical store do you go and you can pay with cryptos? There are very few today. I think that hopefully we can wait for the next cycle, if in this one institutional adoption takes hold and we keep moving towards mass adoption.

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.

[maju69]

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?

After ten years everything has become possible in Cryptocurrency, who knows it, before we know it we have one or two gambling sites that are or are dedicated to Cryptocurrency and they are accepting different Cryptocurrency like Eth, Tron Doge, or Litecoin, the possibility is open now, we have to embrace it when the times comes.

Indeed, it is possible that in the future it will definitely happen and will be adopted by the casino in the real world. One of them needs to come up with the idea and provide some kind of experimental system, whether it is effective or not. it's just possible in the circles where the cryptoners are. Because the thing that becomes the obstacle may be the existence of places that still cannot be visited with a considerable distance.