Will physical casinos accept crypto someday?

[crzy]

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

As we continue to grow, there’s a higher possibility for this one but not now because many are still dealing with the pandemic, and they can’t take the risk for now because of that. Cryptocurrency is a big thing already on any market, we made a good exposure and I’m sure casinos are considering this one. Cryptocurrency will be one of the major options in the future.

[Woodie]

If cryptocurrencies are said to be the future of money then they need to find a way to integrate it into their platforms to grow their client base but the only thing holding them back is state regulation.
Most of these casinos are excited to offer it to their customers but their state laws don't allow and they will not risk their license for the sake of accepting cryptocurrencies. But once laws give a go ahead all casinos will be out there advertising their new payment alternatives to try win new customers to their business.

[agustina2]

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?

Physical casino owners are not holding back but rather there's no demand for it since other payment methods are more fast and quick.

In physical casinos, they can play with their cash right away 1:1 without worrying about the volatility. No need to purchase crypto or convert it. In the table room, chips can be bought instantly with credit cards which most big gamblers have.

Crypto is a good payment method but fiat payment whether physical or online are still much better in terms of transaction speed.

[KTChampions]

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.

You shouldn't pay attention to nonsense (like technical details or laws) but to demand. If there is a demand, then the technical details are quickly resolved and the legal regulation of new activities quickly appears.
What advantage will the average casino visitor get when using cryptocurrency? Personally, I see no reason (and hence the demand for such an option) why it would be beneficial to him.

[Qunenin]

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 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.

The question is why physical casino need to accept crypto when they can easily collect funds in fiat. There will be number of issues if they start accepting crypto currencies. First you need to have proper infrastructure and secondly, people will be waiting in queue as bitcoin payments takes time in confirmations etc.

[panjul07]

Physical casino owners are not holding back but rather there's no demand for it since other payment methods are more fast and quick.

They do not need they wait for the demand if they want to adopt crypto currency as an alternative payment method.
What they need to do is to look for the possible effects, whether it will bring good effects for their gambling business or not.

In physical casinos, they can play with their cash right away 1:1 without worrying about the volatility. No need to purchase crypto or convert it. In the table room, chips can be bought instantly with credit cards which most big gamblers have.

If the volatility is the main problem, simply accept stable coins such as USDT.
Indeed of the weaknesses of crypto is that not all gamblers have crypto in their wallet all the time while they always own fiat money.
But if the main purpose of accepting crypto is just for an alternative payment method, casinos and players should not be worry as they can still play with fiat if they do not want to buy crypto first.

[Silberman]

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

In a way we are already there, after all there are thousands of coins in the market and those are just the ones that have some modest success, during the whole history of this market there have been probably tens of thousands of coins and despite all of that by far the coin that people prefer to use is bitcoin, so I'm not really worried about the future that you are pointing out because it's already here and despite all of that people are still selecting bitcoin as the coin that they prefer.

[Oilacris]

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

In a way we are already there, after all there are thousands of coins in the market and those are just the ones that have some modest success, during the whole history of this market there have been probably tens of thousands of coins and despite all of that by far the coin that people prefer to use is bitcoin, so I'm not really worried about the future that you are pointing out because it's already here and despite all of that people are still selecting bitcoin as the coin that they prefer.

We are already heading there even though its not really full game integrated but rather on payment options which had been already been operational for a while now. Accepting crypto is already happening even though

it isnt possible on some aspects specially to those people who had been talking about crypto into such game directly or literally.If we do consider or mind off on how it would be done then its a bit complicated imho

and not just a thing that could really be that implemented easily.So its better not to expect that much that it would happen someday because it would just frustrate you out.

[Macadonian]

I do not think you will place bets with crypto in a physical casino but it will be like you do now you deposit real money and then they give you chips. I think in the future there will be more casinos allowing you to deposit with Bitcoin and get chips in return. They will have to accept Bitcoin if it stays relevant in the next couple of years because otherwise they will lose money.

[arwin100]

I do not think you will place bets with crypto in a physical casino but it will be like you do now you deposit real money and then they give you chips. I think in the future there will be more casinos allowing you to deposit with Bitcoin and get chips in return. They will have to accept Bitcoin if it stays relevant in the next couple of years because otherwise they will lose money.

This thing will not happen if government will not accept bitcoin as their legal tender since physical always follow the government ruling but also majority of traditional casino doesn't know about bitcoin so I expect also that they will not accept bitcoin to use it on their casinos. But let see maybe in future once bitcoin will be notice as good alternative currency and government will vouch its legality maybe this bitcoin acceptance on casino or even everywhere will happen.

[Shasha80]

I do not think you will place bets with crypto in a physical casino but it will be like you do now you deposit real money and then they give you chips. I think in the future there will be more casinos allowing you to deposit with Bitcoin and get chips in return. They will have to accept Bitcoin if it stays relevant in the next couple of years because otherwise they will lose money.

This thing will not happen if government will not accept bitcoin as their legal tender since physical always follow the government ruling but also majority of traditional casino doesn't know about bitcoin so I expect also that they will not accept bitcoin to use it on their casinos. But let see maybe in future once bitcoin will be notice as good alternative currency and government will vouch its legality maybe this bitcoin acceptance on casino or even everywhere will happen.

Physical casinos are bound by government regulations, because they cannot accept crypto arbitrarily without government approval. Especially if
the government has not legalized cryptocurrencies, it is definitely physically casinos impossible for accept crypto. Moreover, there is not yet a high
enough demand from gamblers for physical casinos to accept crypto, so the physical casino does think accepting crypto is not something to do
right now. I also agree that there are still many physical casinos who don't understand cryptocurrency, so it's true that physical casinos won't
accept something they don't understand. But anything can change in the future, if crypto is legalized more and more in many countries and
governments start accepting crypto as a payment alternative, it will make the physical casino accept crypto too.

[KennyR]

Gambling industry is very big. As more people are getting into the usage of cryptocurrencies, we can see the acceptance of these cryptocurrencies on physical casinos. Whatever we pay we are gonna play with chips that's been bought with cryptocurrency/fiat. With online casinos we play directly whereas with physical casinos chips need to be bought and played. So, we can expect this happen and there might be some physical casinos doing it at present.

[agustina2]

Physical casinos are bound by government regulations, because they cannot accept crypto arbitrarily without government approval.

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.

There's no law related to that. The tax will always be the same.

Especially if the government has not legalized cryptocurrencies, it is definitely physically casinos impossible for accept crypto.

In the first place, why that casino will add crypto if it's not legal in that country. Casinos won't even end up making a plan regarding that.

[qory]

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.

[Abiky]

Adding and integrating crypto to these physical casinos will be just the same as the other payment methods. It doesn't give an impact honestly based on my observation. Using online banking or any online payment thru scan or something along those lines, credit cards, debit cards, physical money is way more fast, quick and convenient at these kinds of establishments compared to when using crypto.

I think it's not that they are fear because of the government law nor 100% concern about volatility but rather there might not be massive demands or requests from their clients for that type of payment method.

As mentioned in some replies, there are few on Vegas casinos but look, it was unable to trigger other casinos to follow.

Crypto can be as fast as traditional payment processors if it scales enough to meet the world's demands. Some blockchain networks are highly scalable, making them a perfect choice for day-to-day payments. With stablecoins in play, I don't see any reason why casinos would avoid crypto in the first place. I think the main reason why physical casinos are away from crypto is because of fear of a government crackdown. After all, they're required to collect personally identifiable information from gamblers (KYC/AML). Crypto goes against this as it enables truly-anonymous (sort of) payments. Gambling in a completely anonymous manner could be deemed illegal by the government. Unless the crypto/Blockchain space becomes more regulated, Fiat will remain as the number one currency of choice for gambling. I wouldn't worry about this since we already have online gambling sites which accept crypto for gambling. Just my opinion

[Silberman]

I do not think you will place bets with crypto in a physical casino but it will be like you do now you deposit real money and then they give you chips. I think in the future there will be more casinos allowing you to deposit with Bitcoin and get chips in return. They will have to accept Bitcoin if it stays relevant in the next couple of years because otherwise they will lose money.

I think that is precisely what people are referring to, no one is really expecting for regular casinos to accept bets inside their installations with bitcoin, maybe an exception could be made for sport bets but for the rest of the games you are going to need to use chips, and this is because this is a psychological trick, the casinos use chips instead of money because that way people do not feel like they are betting actual money and as such they have the tendency to gamble more so it is obvious they are going to do the same with bitcoin.

[Vaskiy]

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.

Though they're making good from the usage of paper currency usage, it is the need to go along with the growing technology. As a result surely these casinos will surely adopt and accept cryptocurrency into their casino business. Already people have started using it long ago online and now the plans of the physical casinos will be to bring those online users towards the real world casinos.

[chaser15]

Though they're making good from the usage of paper currency usage, it is the need to go along with the growing technology.

Growing technology? Physical casinos transactions are mostly done now thru credit cards or online payments. Gamblers no need to bring their physical cash.

Don't tell me just because it physical casino you think guys that transactions were done by paper money? No. Growing technology doesn't mean physical casinos should accept crypto. There are lots of fast and quick payment methods compare to crypto that they currently use.

[TimeTeller]

Though they're making good from the usage of paper currency usage, it is the need to go along with the growing technology.

Growing technology? Physical casinos transactions are mostly done now thru credit cards or online payments. Gamblers no need to bring their physical cash.

Don't tell me just because it physical casino you think guys that transactions were done by paper money? No. Growing technology doesn't mean physical casinos should accept crypto. There are lots of fast and quick payment methods compare to crypto that they currently use.

You have a valid point here. A lot of gamblers are not comfortable carrying actual cash inside the casino.
There are many digital ways now how to spend money inside the casino like debit/credit cards.
Crypto inside physical casino is still not seen, but only outside its premises. Like Bitcoin ATMs outside Vegas casinos.
However, it may soon be possible in countries like El Salvador. But it is too early to tell.

[pakhitheboss]

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.

They are only going to adopt when gamblers demand it. Otherwise, I do not see any reason for them to move from Fiat to Crypto. As you said they are making a ton of Fiat money and those who gamble there are not okay to use Fiat. They are not bothered about privacy or government, they are there to play and enjoy. I do not think they use cryptocurrencies unless the country where they operate starts accepting cryptocurrency as a legal tender. At the moment there are a few countries that have done that, maybe in the future.