The future of CBDC in gambling.

[Hispo]

Just like bitcoin, CBDC has its place and a future in gambling. However, we should note that they are not as the same as bitcoin. One is centralized, backed by the Central Banks of Countries, the other is decentralized and backed by the will of the people. However, when compared to fiat they are both secured from hacking and other financial frauds.

If you ask me, gamblers would prefer to use Bitcoin for gambling which is more anonymous than any CBDC. So although, it makes sense to use CBDC for the afore mentioned reasons, it's future in the gambling industry will be dependent on it's adoption and listing in online casinos.

Saying that CBDCs are backed by Centrals banks is the same that saying they are not actually backed by anything at all, but trust. 
Also, I am not trying to be pessimistic but if things continue to go this way with the mempool congestion and the ordinals, I would not be surprised if some gambler would rather to switch to CBDC's and their (expectantly) instant transactions. These fees in the Bitcoin network are simply not suitable for those who want to gamble and do not have big pockets, in my opinion.

No way to transfer 5 bucks in BTC onto a casino to try it. 

[ethereumhunter]

Maybe CBDC has a good future too but I don't know because it also depends on the approval of each government. If they don't allow CBDCs, gamblers will revert to their previous form because that's what made them comfortable depositing and withdrawing their money.

But crypto gamblers will probably still use crypto casinos to play gambling. They will not switch to using CBDC or other forms because they have found comfort in playing gambling. But it seems that the development of CBDCs in the future, especially for cities that allow gambling, can be faster than in other cities.

[Finestream]

CBDCs are not cryptocurrencies.

Non of our concern here with fiat, CBDCs are just fiat and nothing more. If any gambling site begins to accept CBDCs which is what would later happen, they are still just accepting fiat. Our concern here is crypto, not fiat.

Right. These CBDCs is just a form of fiat currency, and it’s still backed by a central bank. So it won’t be surprising if in the long run CBDCs will be accepted for betting in legal gambling casinos. Unlike bitcoin, it’s totally centralized so the government would always want to make it a legal tender the moment they want to impose it. However, I’m still not seeing it that gambling casinos would implement CBDCs for betting, but maybe in the future.  For now, since there are known crypto gambling casinos, they would still prefer to accept cryptocurrencies than CBDCs.

[danherbias07]

One of the features presented by CBDCs is the fact they are highly traceable by the regulator body behind it.
For some gamblers it may not be an issue, but for others I believe that is a big cons, therefore they will tend to avoid gambling with CBDCs, still going for fiat (as we have right now), bitcoin and altcoins (especially stablecoins).

Everyone who have concerns regards privacy will try avoiding this category of currency, and in case CBDCs find a fertile land in gambling industry, it will mean most gamblers aren't worried about their funds and financial routine being tracked by the Central Bank. So let's see.

The pros is the ease of gambling, they can just literally use their phones to gamble.
But the cons are like you said. Privacy. They will be snooping at your gambling activity and usage of your funds and I doubt they will just sit around and watch you waste all the money until it's depleted. I bet they will try to control it by putting a restriction once you are getting low in balance, and that way you will be forced to deposit more.
That won't be cool for gamblers who like to gamble their way until the end. Zero. Rekt. When you are being monitored, you cannot feel the excitement of going all-in.

[Eternad]

CBDC is just a regular fiat that use the blockchain technology. Major casino accepts fiat currency on their deposit option so I’m sure that CBDC will be added shortly if there’s already a demand on it. Most of online casino start on fiat deposit only and they just expand on crypto due to the good market. This is same case with CBDC if this currency will be widely use globally.

Casino is already implementing KYC which is the number requirements of CBDC since this currency is fully regulated by the law.

[Gozie51]

If Casino's in Macau begin accepting CBDC's, It may prompt other casino's to follow suit especially in places where CBDC's already have the Legal Tender status.

The question of cbdc being accepted in casino is still early and hasty because it is not all countries that have even accepted to adopt bitcoin transaction. And the currency to use in an online game should be used by many other countries to be able to have access to deposit and withdrawal. Even at the moment,  it is not all cryptocurrency is used in casino so using of cbdc will be jurisdiction based if that will happen in any case. That means some countries will be restricted from using their own cbdc.

[goldkingcoiner]

I think that gambling with CBDCs will not be possible in countries that are against gambling. And even the countries that currently are ok with gambling, they will eventually exercise their power with the technology behind CBDCs to determine what you can buy, cannot buy and what you can and cannot spend your CBDC tokens/coins on. The governments would already enforce this kind of control if they could. But they currently cannot.

I think we should keep pushing against CBDCs. Unless we all want to live in China and be under total dictatorial financial control.

[Lucasgabd]

it'll vary a lot from country to country
since the gambling laws also vary a lot
but I don't see why a country that allow gambling would change anything with CBDC or without it
it's just another way of paying in the end (with way less privacy of course)

[lionheart78]

Isn't it obvious that CBDC is one of the future legal tenders in gambling?  The government had been studying and developing its CBDC.  Once the preparation is finished, they will implement it for their constituents and institution.  It is just a matter of time to hear that CBDC is implemented as a deposit option in all casino platforms.  The technology is going in that direction, it just needs proper regulation and laws before it is implemented.

I think that gambling with CBDCs will not be possible in countries that are against gambling.

 

Lol, isn't it obvious?

And even the countries that currently are ok with gambling, they will eventually exercise their power with the technology behind CBDCs to determine what you can buy, cannot buy and what you can and cannot spend your CBDC tokens/coins on. The governments would already enforce this kind of control if they could. But they currently cannot.

For those countries that allows gambling and had developed CBDC, it is an obvious course that they will allow the use of CBDC in their gambling platform.

I think we should keep pushing against CBDCs. Unless we all want to live in China and be under total dictatorial financial control.

It is not on us but on the government.  When did the government listen to its citizen when they think the request is not benificial to the state?

[Fivestar4everMVP]

it'll vary a lot from country to country
since the gambling laws also vary a lot
but I don't see why a country that allow gambling would change anything with CBDC or without it
it's just another way of paying in the end (with way less privacy of course)

Well, it is very possible for some countries to force the use of CBDC on its citizens if citizens are weak, though this have nothing to do with gambling, but everything to do with cryptocurrencies in general, it is the same thing the Nigerian government tried to do to us, seeing he rise of bitcoin and its usage in my country, the government introduced e-naira ( a digital form of our normal Naira notes), and banned cryptocurrency trading in the country , their way of trying to force everyone to embrace e-naira, but unfortunately for them, e-naira currently seem like a failed project already, as no one in the country seems interest in it.

[passwordnow]

Maybe CBDC has a good future too but I don't know because it also depends on the approval of each government. If they don't allow CBDCs, gamblers will revert to their previous form because that's what made them comfortable depositing and withdrawing their money.

It's like the actual money so I don't think that they'll refuse it to be used in the gambling industry so, it's most likely that it will be used.
But for us gamblers here, we know that it won't be a matter whether the government refuses or not, we have other means of gambling and that's where we've started and that's with the use of cryptocurrencies.

[QueenVera]

CBDCs are not cryptocurrencies.

Non of our concern here with fiat, CBDCs are just fiat and nothing more. If any gambling site begins to accept CBDCs which is what would later happen, they are still just accepting fiat. Our concern here is crypto, not fiat.

I agree with you and CBDC are fiat and that it shall remain and I really don't think crypto gamblers will easily accept that and beside gamblers are looking for a more decentralized way through which one could carry out their transactions without so many other third party monitoring and if you'll agree with me , you'll understand that CBDC isn't decentralized but rather centralized and I'm sure it wouldn't be accepted over here and also Nigeria introduced their digital currency (E-Naira) and it seems no one actually used that currency and I'm sure that might be the fate of CBDC.

[7788bitcoin]

~
Casino is already implementing KYC which is the number requirements of CBDC since this currency is fully regulated by the law.

I wont be having an issue with undergoing KYC if the casino make them mandatory because i am not gambling from a casino which is situation in my jurisdiction nor my country and hence i do not worry about the government following all my transactions but that wont be the case with CBDC as it will be monitoring each and every transaction and the data will be with the government and it is not a fair situation.

[alegotardo]

With how much CBDC's are being developed for use as a legal tender, do you  think there is a future for gambling with CBDC's?

Governments are certainly very interested in this rapid adoption of CBDCs by casinos, it would end tax evasion, give governments much more financial control and greatly increase their revenue.

Traditional casinos could even benefit from greater user adoption, as I believe it would be easier to make financial contributions and withdrawals compared to traditional Fiat currencies.

However, in casinos that already use cryptocurrencies, I don't see how this adoption of CBDCs could help.

[ethereumhunter]

Maybe CBDC has a good future too but I don't know because it also depends on the approval of each government. If they don't allow CBDCs, gamblers will revert to their previous form because that's what made them comfortable depositing and withdrawing their money.

It's like the actual money so I don't think that they'll refuse it to be used in the gambling industry so, it's most likely that it will be used.
But for us gamblers here, we know that it won't be a matter whether the government refuses or not, we have other means of gambling and that's where we've started and that's with the use of cryptocurrencies.

Yes, it is. As long as there are benefits that casinos can obtain, casinos will use them. Especially if the government supports it, it will make the casinos even more eager to implement it because it's the same as they can get support from the government so that casinos can make them even bigger.

We crypto gamblers already have the choice of using crypto to play gambling. And even though the casino eventually implements it and asks us to obey its rules, we can still play gambling in other casinos.

[libert19]

Cdbc is government issued, so ofc it will be legal tender rather than 'if'. Regarding acceptance, I think they will. Cdbc is better than crypto for governments too keep track of.

[justdimin]

Just like bitcoin, CBDC has its place and a future in gambling. However, we should note that they are not as the same as bitcoin. One is centralized, backed by the Central Banks of Countries, the other is decentralized and backed by the will of the people. However, when compared to fiat they are both secured from hacking and other financial frauds.

If you ask me, gamblers would prefer to use Bitcoin for gambling which is more anonymous than any CBDC. So although, it makes sense to use CBDC for the afore mentioned reasons, it's future in the gambling industry will be dependent on it's adoption and listing in online casinos.

In fact, some gambling places in Macau are now planning to accept them as a legal tender. I think that was pretty quick compared to Bitcoin when the currency is already here many years ago.

Well, with according to how you differentiate them, I guess I wouldn't really wonder on why CBDC easily gets this status of legal tender, that is because they are backed by the banks while there are so many banks and governments who are allergic to Bitcoins but it was still great that there are already a few countries who made BTC a legal tender. We can still use our BTC online and on online gambling if not on the real world or brick and mortar casinos.

[passwordnow]

It's like the actual money so I don't think that they'll refuse it to be used in the gambling industry so, it's most likely that it will be used.
But for us gamblers here, we know that it won't be a matter whether the government refuses or not, we have other means of gambling and that's where we've started and that's with the use of cryptocurrencies.

Yes, it is. As long as there are benefits that casinos can obtain, casinos will use them. Especially if the government supports it, it will make the casinos even more eager to implement it because it's the same as they can get support from the government so that casinos can make them even bigger.

We crypto gamblers already have the choice of using crypto to play gambling. And even though the casino eventually implements it and asks us to obey its rules, we can still play gambling in other casinos.

That might happen since casinos are regulated and they'll just have to obey and adhere to whatever the government will tell them to support. So, as part of CBDC adoption and usage, it's very likely that it will be used through it. But then, there have been hot eyes on the casinos and they might think of money laundering and that's gonna be an ugly impression into it so it could also be slashed to that usage. Well, it's up to them and only them can decide whether they will allow it and be enforced or not.

[uray]

~
I think we should keep pushing against CBDCs. Unless we all want to live in China and be under total dictatorial financial control.

People in the USA are planning to create their CBDC and so does there are plans globally and these government are expecting to come out with a plan that could control the people as they will be able to monitor each and every transactions made. So are you claiming that every country is trying to be a dictatorship, if so then it might be true as how things are going with Europe and the US in the past several years.

I will never user CBDC to purchase anything as i consider privacy more valuable than using government controlled centralized currency.

[mindrust]

If Casino's in Macau begin accepting CBDC's, It may prompt other casino's to follow suit especially in places where CBDC's already have the Legal Tender status.

Gambling Capital of the World Macau to accept CBDC as Legal tender

Since CBDC's are not really any different than FIAT, the casinos that don't accept FIAT won't accept CBDC's too. Fundamentally CBDC's and FIAT are both the same thing. If a casino gets into trouble for accepting FIAT or any players from the United States, that casino will experience the same problems if they accept CBDC's as deposits. I don't really see how CBDC are a game changer. Online crypto casino should stick to legit projects like BTC, ETH, DOGE, LTC etc... They have already proven themselves and they work just fine. Just don't do any business with the govs and let them implode.