Will physical casinos accept crypto someday?

[FatFork]

I am sure that in the future it will be possible to use cryptocurrencies to play in the casino just have to wait until the regulators will be able to prepare laws governing this area. Recently, more and more major global companies are interested in cryptocurrencies. This will give an impetus to the adoption of cryptocurrencies everywhere.

It is still illegal to operate brick-and-mortar Bitcoin casinos in the majority of jurisdictions where gambling is regulated. Most physical casinos don't even accept credit cards or smartphone-based payment systems. While you can use your credit card to deposit or buy chips, winnings are still paid out in cash. Online casinos, when compared to their land-based counterparts, have a huge advantage when it comes to payment methods, including the ability to pay and play with cryptocurrencies such as Bitcoin. In Las Vegas, however, gamblers can exchange their crypto for cash at bitcoin ATMs before heading out to their favorite casino. I know, it's not the perfect solution but it's better than nothing.

It remains to be seen whether or not physical casinos will accept crypto in the future. For now, we'll have to stick with their online counterparts.

[btc78]

one day they will definitely do that, physical casinos really love money, if crypto is adopted there is no reason they shouldn't add cryptocurrency options to their business. 

actually they don't need adoption before doing this acceptance because Bitcoin is already making money now.
so accepting this will add money in their bags , and also opportunity for them to bag more bitcoin earlier than when the price comes huge.

sooner or later it is something that casino owners have to do as a form of following the trend.  and I'm sure the concept will not make it difficult for gambling players who want to use crypto to make it easier to deposit or withdraw.

actually with the popularity of bitcoin and cryptos now? i don't see any reason why they will need to deny the fact of accepting cryptos inside their business.

[michellee]

I haven't see or know any physical casino that accept crypto as one of their payment but I do see some fiat only casinos that started to adopt cryptocurrency as one of the payment they have. You can see some of the casino in this forum where they created their ann thread and some people said they didn't know the site because it is a fiat casino that just accepted crypto as one of their payment.

Maybe not now but that could happen in the future, especially if the government allow people to use crypto in their country. That can attract offline casinos to start integrating their system using blockchain and they will introduce to their members that at that time, they accept crypto be used for gamble. The online casino will be the earlier to adopt crypto to their casino because they are aware of it happening on the internet, so they do not want to be late to take advantage of using crypto.

[Yamifoud]

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 .

Indeed, for now, I think so. For physical casinos it seems they still can't know in detail how the crypto system works and the payments they will make with it. There needs to be an advisor in the crypto finance department and they will of course create a special team in the crypto section. So that between crypto and fiat payments a comparison can be made, to find out which difference is generated.

I know it doesn't work like that, if they see it as an opportunity to increase their revenue, I don't think they will not find a way to integrate crypto in their system, and they know it's not easy as being a regulated casino, they also have to adopt with the crypto laws so they'll not face any problem with their operation.

[SquallLeonhart]

I know it doesn't work like that, if they see it as an opportunity to increase their revenue, I don't think they will not find a way to integrate crypto in their system, and they know it's not easy as being a regulated casino, they also have to adopt with the crypto laws so they'll not face any problem with their operation.

Yeah, I remember that I have read already some countries' offline casinos started accepting cryptos and with lighting bitcoin, I guess there will be no delay may occur by waiting for network confirmations and most altcoins are having quicker blocks for instant confirmations to facilitate gamblers to start with even with their physical visits.

Plus, I read some casinos are allowing loading their wallet online prior to physical visit. This way they are wisely eliminating the hassles of scanning QR codes to addys and delays in network confirmations.

[just_Alice]

one day they will definitely do that, physical casinos really love money, if crypto is adopted there is no reason they shouldn't add cryptocurrency options to their business.  sooner or later it is something that casino owners have to do as a form of following the trend.  and I'm sure the concept will not make it difficult for gambling players who want to use crypto to make it easier to deposit or withdraw.

1. Everyone really loves money, that doesn’t really prove a point

2.There is a reason why casinos would want to avoid crypto. First, the legal ones will have to arrange rules in accordance with certain countries, and, if cryptocurrencies are banned there, there’s a high chance that the casino itself will lose a whole geographic sector due to that.
Second, casinos benefit from knowing their customers in the face, so to say, they offer bonuses, give special treatment, try to make sure that the client will remain loyal. And, in addition, reduce cheating by requiring KYC. Needless to say, with the full adoption of crypto and the idea of anonymity, all of that will be harder.

[mv1986]

one day they will definitely do that, physical casinos really love money, if crypto is adopted there is no reason they shouldn't add cryptocurrency options to their business.  sooner or later it is something that casino owners have to do as a form of following the trend.  and I'm sure the concept will not make it difficult for gambling players who want to use crypto to make it easier to deposit or withdraw.

1. Everyone really loves money, that doesn’t really prove a point

2.There is a reason why casinos would want to avoid crypto. First, the legal ones will have to arrange rules in accordance with certain countries, and, if cryptocurrencies are banned there, there’s a high chance that the casino itself will lose a whole geographic sector due to that.
Second, casinos benefit from knowing their customers in the face, so to say, they offer bonuses, give special treatment, try to make sure that the client will remain loyal. And, in addition, reduce cheating by requiring KYC. Needless to say, with the full adoption of crypto and the idea of anonymity, all of that will be harder.

As for your second point, I am absolutely convince that at some point in the future there will be no way around accepting cryptocurrencies as well. Legally is an easy one, should crypto be prohibited or rather belong to a legal grey area, serious physical casinos would deny it. If it is officially allowed, they would certainly at some point allow for cryptos to be used. If you are a decently high net worth individual and you would prefer your bank to not know you just gambled big time, you could go for BTC, still do you KYC at the casino and either leave with more, less, or no Bitcoin again. I think for individuals who prefer a certain level of privacy, that'd be a reasonable point for a casino to in fact accept crypto. Crypto would also be much safer than cash in conjunction with KYC, no?

[Hypnosis00]

I know it doesn't work like that, if they see it as an opportunity to increase their revenue, I don't think they will not find a way to integrate crypto in their system, and they know it's not easy as being a regulated casino, they also have to adopt with the crypto laws so they'll not face any problem with their operation.

Yeah, I remember that I have read already some countries' offline casinos started accepting cryptos and with lighting bitcoin, I guess there will be no delay may occur by waiting for network confirmations and most altcoins are having quicker blocks for instant confirmations to facilitate gamblers to start with even with their physical visits.

Plus, I read some casinos are allowing loading their wallet online prior to physical visit. This way they are wisely eliminating the hassles of scanning QR codes to addys and delays in network confirmations.

We are looking for the success of this huge adoption. It might be difficult to start knowing of some long delays on transactions confirmations that hold casinos to fully accept the system and this will give hassle to the gamblers but I believe they could find a solution to this. Maybe a mutual understanding between the gambler and the casino, and their option to be able to wait for a few minutes could help.
Anyways, this was just an option because if they are aware of the said delays, they can use fiat instead.

[pinggoki]

There is a huge possibility of this coming true in the future. The cryptocurrency pump that happened last year plus the multitudes of online casinos that mostly offer cryptocurrency prizes may force their physical counterparts to accept and reward their customers in the form of cryptocurrency someday. This offers numerous benefits for the bettor and the house since they would cut the need for greenbacks and cash rewards, because nobody wants to walk around the city unarmed with a bag of money with them. That would literally be a call for thieves and muggers to target you.

one day they will definitely do that, physical casinos really love money, if crypto is adopted there is no reason they shouldn't add cryptocurrency options to their business.  sooner or later it is something that casino owners have to do as a form of following the trend.  and I'm sure the concept will not make it difficult for gambling players who want to use crypto to make it easier to deposit or withdraw.

There is a huge possibility of this happening but your explanation should at least explain more as to why this would happen. I would assume that by you saying that casinos love money, you mean that they see cryptocurrency gamblers as an untapped resource they must come after to expand their reaches and improve profitability. This wouldn't happen anytime soon though as drastic measures like this takes time and research before implemented, not to mention the risks of COVID-19 contraction being existent.

[Kyraishi]

Absolutely.

I think that there will be increased integration between virtual and physical casinos as a matter of time, and not if.

Physical casino giants are struggling to secure business across the world due to this ongoing pandemic situation, and that has transferred wealth towards online casinos and increased the popularity of cryptos as the currency of choice for gamblers. This will only accelerate out of the pandemic as bitcoin gets adopted mainstream - there is no way around it for places on the Vegas Strip, Macau, etc.

[Twinkledoe]

Absolutely.

I think that there will be increased integration between virtual and physical casinos as a matter of time, and not if.

Physical casino giants are struggling to secure business across the world due to this ongoing pandemic situation, and that has transferred wealth towards online casinos and increased the popularity of cryptos as the currency of choice for gamblers. This will only accelerate out of the pandemic as bitcoin gets adopted mainstream - there is no way around it for places on the Vegas Strip, Macau, etc.

Maybe in the near future, some of these physical casinos will allocate a specific area where you can play online and where crypto is already integrated in their payment system. It is very true that right now, online casinos are generating their income because a lot of gamblers opted for online gambling because of this pandemic. Some may have discovered crypto casinos during this period as crypto increased its popularity during this pandemic. We can see that there are so many online casinos that were created also during this time. In this forum alone, we have seen a lot of new casinos launched last year and up until now.

[ChiBitCTy]

I imagine that they would likely start to accept cryptocurrency at some point in time as long as it keeps advancing along.  The fact that online casinos currently do accept bitcoin and some accepting many other types of cryptocurrencies, seems to be proof enough to me that they would eventually bring them on as a payment method.  You would have to think that they are already starting to look in to doing this already.  I think they would be crazy to ignore another way for players to play, which means a bigger bottom line for them.

[Wexnident]

After all, in general it doesn't feel right if crypto is in real bets/physical casinos, crypto is not in real form, of course this is more towards internet connection (online terms), besides problems with the government... I think it will also require additional costs in physical casinos if it does add the crypto bets, it requires electricity, internet connection, etc.

It's not like the casino isn't already using electricity and internet though... Setting up the systems that they need to accept Crypto would take some costs to be fulfilled, but it's a one-time fee at most, and casinos could surely afford that. Maybe a scanner code of sorts that would automatically deduct the funds they used once leaving the table or something. Again, a one-time cost that they'd have to shoulder, but it does improve customer experience if they're going to accept crypto.

[coin-investor]

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?

It's going to be a big lift if this happens, but it's quite expensive and risky if they do this because they need to set up the system and the volatility is another issue, but this is a revolution in the offline casino industry if one company dare to do this, let's see in the coming years if one company dare to set up a casino that can accept Cryptocurrency and what will be its impact.

[ethereumhunter]

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?

It's going to be a big lift if this happens, but it's quite expensive and risky if they do this because they need to set up the system and the volatility is another issue, but this is a revolution in the offline casino industry if one company dare to do this, let's see in the coming years if one company dare to set up a casino that can accept Cryptocurrency and what will be its impact.

Maybe the offline casino that lived in the country that allows gambling will try it later as that casino will not have a problem with their government and their regulations. But still, it needs more research from the offline casino before they implement their payment system because they will see the volatility of the crypto price can affect their business. But all in all, that can give them more profit once they start adding crypto to their payment because they can hold the crypto and only sell it when the price increases. That can bring a new experience for offline gamblers because they will see that using crypto will be different than using fiat money to gamble.

[Zilon]

I think someday they will but Bitcoin is just risky and volatile to be exact for physical casinos to completely latch into. Physical casinos are playing it smart not to depend only on crypto.

For physical casinos to accept crypto automatically means they have to create an exchange which might either be in paper format or digital but certainly an exchange has to be created for both fiat and crypto exchanges. I don't think it will really be convenient for physical casinos to accept crypto except it becomes legally approved by entire world as some nation's will likely sieze licences of operators who decide to accept crypto against the regulations of the state.

[Silberman]

This is another problem, in many countries bitcoin is recognized as an asset that you can buy and sell but it is not recognized as a currency that you can use in order to pay for products and services, which means that casinos cannot really legally accept bitcoin as a payment option, so even if a casino wants to do this because they want to give their clients the option of using cryptocurrencies to play at their installations if the regulation is not there then they have their hands tied up.

I am sure that in the future it will be possible to use cryptocurrencies to play in the casino just have to wait until the regulators will be able to prepare laws governing this area. Recently, more and more major global companies are interested in cryptocurrencies. This will give an impetus to the adoption of cryptocurrencies everywhere.

I believe this as well, however I am not really sure why this is not happening, after all we know that there is a strong gambling industry in the market of cryptocurrencies so it is to be expected that this is eventually transferred to physical casinos as well, and the fact that this has not happened is puzzling, maybe as we speculate it has to do with the regulations, but maybe it has to do with the fact that for a physical casino to adopt bitcoin then they will need to have a lot of gamblers interested in bitcoin be near them, something that is difficult as the concentration of bitcoin users in many areas is quite low.

[KTChampions]

I believe this as well, however I am not really sure why this is not happening, after all we know that there is a strong gambling industry in the market of cryptocurrencies so it is to be expected that this is eventually transferred to physical casinos as well, and the fact that this has not happened is puzzling, maybe as we speculate it has to do with the regulations, but maybe it has to do with the fact that for a physical casino to adopt bitcoin then they will need to have a lot of gamblers interested in bitcoin be near them, something that is difficult as the concentration of bitcoin users in many areas is quite low.

In fact, there is nothing surprising here - the demand for payments with cryptocurrencies is low, so casinos (like other services) are in no hurry to introduce such an option when accepting payments. No matter how much crypto enthusiasts talk about mass adoption, but people consciously choose fiat and bank cards because in everyday life they are more convenient in every sense.

[lolxxxx]

Why not everyone is switching to crypto and the next future is of digital currencies and they will implement crypto either they will make their own coin or they will accept others as payments and vice versa.

Regards

[TimeTeller]

I believe this as well, however I am not really sure why this is not happening, after all we know that there is a strong gambling industry in the market of cryptocurrencies so it is to be expected that this is eventually transferred to physical casinos as well, and the fact that this has not happened is puzzling, maybe as we speculate it has to do with the regulations, but maybe it has to do with the fact that for a physical casino to adopt bitcoin then they will need to have a lot of gamblers interested in bitcoin be near them, something that is difficult as the concentration of bitcoin users in many areas is quite low.

In fact, there is nothing surprising here - the demand for payments with cryptocurrencies is low, so casinos (like other services) are in no hurry to introduce such an option when accepting payments. No matter how much crypto enthusiasts talk about mass adoption, but people consciously choose fiat and bank cards because in everyday life they are more convenient in every sense.

It will take time before these traditional casinos will accept crypto in their payment system.
For one, it depends on the regulatory board of their country. They need to abide their laws and regulations.
So injecting crypto in their system, will be a new one in their book. And formulating rules will take time.
Maybe, we will see this to reality like in El Salvador, once they accepted crypto in their financial system.
But still, it will take time for these offline casinos to draft protocols on how to accept crypto in their system.