The future of CBDC in gambling.

[Jawhead999]

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.

CBDC can be a game changer if the government ban the whole stable coin, the worst case they ban all cryptocurrencies including Bitcoin. If the government force their citizens to use CBDC, we have no option because we can't reject it, especially if there's no cash is used anymore.

However I'm not supporting CBDC and I just hope the government will not ban all cryptocurrencies because it will create a huge panic.

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[Dickiy]

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?

Last year (2022), Macau which is popularly known as the gambling capital of the world due to it's booming casino business were planning to give CBDC's the status other accepted Legal tenders had. It raised the question of it this will prompt casino's in the city to begin accepting CBDC's for gambling?

The government in Macau did not say when;

The government has not established a deadline for when or which digital currencies will be accepted

But it is something to expect.

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.

Yes, of course, every casino that has a good adaptation to technological developments in currency, of course they use several alternative tools or gambling currencies on their website, I think it will have great potential to be adopted by bookies to add to their services, especially if they have received the legal tender. it is very possible in my opinion, after all both crypto, fiat and CBDC as bookies will definitely take steps to their advantage by providing several currency options that are provided to their holders that will make it easy for customers to choose and gamble at their gambling.

[robelneo]

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.

CBDC can be a game changer if the government ban the whole stable coin, the worst case they ban all cryptocurrencies including Bitcoin. If the government force their citizens to use CBDC, we have no option because we can't reject it, especially if there's no cash is used anymore.

However I'm not supporting CBDC and I just hope the government will not ban all cryptocurrencies because it will create a huge panic.

Do you mean all governments of the world? I don't think it's possible the gambling industry serves its players and the regulators' role is to ensure that bad actors will not use the industry for their illegal activity like money laundering.
The casino industry is ok with using Cryptocurrencies and it's their choice not imposed, regulators cannot just impose something in the industry that can affect the whole operation, casinos may accept CBDC as one of the options for their players, and their players who will choose if they want to use CBDC or not.

[TimeTeller]

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.

I am also on your side, CBDC is just the digital counterpart of their fiat.
So if the casino is crypto-based and not accepting fiat, then, they won't accept CBDC as well.
I don't know how it will be a game changer. But if the fiat-based casino will start accepting CBDC, then, later on, they may accept crypto if they haven't done it yet.
Macau casinos (land-based) are accepting fiat, if they will accept CBDC, then, high likely, they will soon accept crypto, which is good for the crypto market.
But remember, one is not free from the submission of KYC docs when you use CBDC as it is the same with fiat, you are just using a digital currency of it.

[n0ne]

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.

CBDC can be a game changer if the government ban the whole stable coin, the worst case they ban all cryptocurrencies including Bitcoin. If the government force their citizens to use CBDC, we have no option because we can't reject it, especially if there's no cash is used anymore.

However I'm not supporting CBDC and I just hope the government will not ban all cryptocurrencies because it will create a huge panic.

This could happen and government's wish for such a level of adoption. When CBDC is the only option people go for it. This will let the government to have direct control over every person's transaction. This could affect user privacy and we can see decline in the number of users into gambling. Majority wants privacy and for that reason most gamblers look for alternate or just start visiting real casinos.

[tabas]

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

But that will only happen for other casinos if they think that there's a sufficient demand for it. It's like that they'll just wait for the result of it and if there's a certain demand that they need to meet from this adoption then it would be no brainer for the other casinos to do the same.
Thus, governments can just easy impose this to their local casinos if they've got CBDC to be adopted so it will increase the demand of it. IMHO, it will take time until there can be some good feedback on it but with probably pilot testing of it, these casinos and its gamblers would likely to have an unsatisfying feedback about it.

[Saint-loup]

I am also on your side, CBDC is just the digital counterpart of their fiat.
So if the casino is crypto-based and not accepting fiat, then, they won't accept CBDC as well.
I don't know how it will be a game changer. But if the fiat-based casino will start accepting CBDC, then, later on, they may accept crypto if they haven't done it yet.
Macau casinos (land-based) are accepting fiat, if they will accept CBDC, then, high likely, they will soon accept crypto, which is good for the crypto market.
But remember, one is not free from the submission of KYC docs when you use CBDC as it is the same with fiat, you are just using a digital currency of it.

I disagree with you, because usually casinos don't accept fiats to avoid getting troubles with banks, they don't like casinos because they can wipe out their customers funds very quickly.  But CBDC won't use banks and only central authorities from their own countries will be able to block transactions. So users will be able to send their funds and to receive them directly from their wallets at anytime without giving any order and justifying anything to their banks.

[noormcs5]

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.

CBDC can be a game changer if the government ban the whole stable coin, the worst case they ban all cryptocurrencies including Bitcoin. If the government force their citizens to use CBDC, we have no option because we can't reject it, especially if there's no cash is used anymore.

However I'm not supporting CBDC and I just hope the government will not ban all cryptocurrencies because it will create a huge panic.

If there will be government issued CBDC, gamblers can use if for playing and betting. However, there will no restrictions that we have to use CBDC for gambling and cannot use bitcoin or crypto for gambling.
However, i would take it in a positive way as there are still many gamblers who do not believe in bitcoin and want to bet using dollars or their own fiat money. Now those people can use digital money for gambling too, hence the online crypto based gambling sites can attract more players through CBDC.

[Quidat]

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.

CBDC can be a game changer if the government ban the whole stable coin, the worst case they ban all cryptocurrencies including Bitcoin. If the government force their citizens to use CBDC, we have no option because we can't reject it, especially if there's no cash is used anymore.

However I'm not supporting CBDC and I just hope the government will not ban all cryptocurrencies because it will create a huge panic.

If there will be government issued CBDC, gamblers can use if for playing and betting. However, there will no restrictions that we have to use CBDC for gambling and cannot use bitcoin or crypto for gambling.
However, i would take it in a positive way as there are still many gamblers who do not believe in bitcoin and want to bet using dollars or their own fiat money. Now those people can use digital money for gambling too, hence the online crypto based gambling sites can attract more players through CBDC.

There would be no restriction since these things are considered or be treated like e-fiat which the government had mold on which it would be understandable that you are dealing up with something which is regulated and been allowed.Yes, there's no limit and there would be no hesitance on making use of it but on the time that you are owning big amounts then dont get be shocked if governments eyes
would be on you.Honestly, there's no shocking thing about using up CBDC or they would decide on adding it up because it would be no to little difference on using up fiat.
What matter most is on making use of crypto even more than with these cbdc's.

[dothebeats]

I won't use CBDCs for gambling. It allows you to be tracked and get a lot of information from you on how you spend your money. I'm fine with using them on other daily purchases, but perhaps not on gambling. Cryptocurrencies is what you want to use if you want to enjoy your gambling escapades. It's way easier, less complications, and provides you some level of anonymity that helps you keep the governments at bay. They might have your KYC information on the site, but they don't know how are you spending your money because you don't use what they want you to use.

[Chikito]

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?

This looks like the potential for the future, but we can't avoid the fact that gambling is can still be restricted with the country even having and using CDBC. it's not easy if we try to force it, because the government must need a change in law and even amendments to the constitution.

And, I think the CDBC is Maybe good for gambling sites, because people who use CDBC already KYC on the central bank, and the site doesn't wash time asking for the KYC again.

[Hispo]

I won't use CBDCs for gambling. It allows you to be tracked and get a lot of information from you on how you spend your money. I'm fine with using them on other daily purchases, but perhaps not on gambling. Cryptocurrencies is what you want to use if you want to enjoy your gambling escapades. It's way easier, less complications, and provides you some level of anonymity that helps you keep the governments at bay. They might have your KYC information on the site, but they don't know how are you spending your money because you don't use what they want you to use.

Ironically, I can see that after the implementation of the CBDC's there will be some casinos which will open and they would advertise themselves as non-KYC but they will only allow people to deposit though those CBDC's.

It may be an effective strategy to lure people who would not be very informed on how those centralized digital coins work to track one's information. The sad thing is that it could work and many would not see attractive to register and submit their information in a crypto/Bitcoin casino in order to deposit, when they could opt to deposit and gamble instantly with those Digital Dollars. 

I could be attractive for future generations of gamblers which could demand things done faster.

[Silberman]

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.

Besides it is not as if those casinos or anyone else will have any other option, CBDCs will be legal tender, and that means that everyone living at a country in which their government has created their own CBDC is obligated by the law to accept them or face the consequences, so it is not like fiat casinos can refuse to accept them, and as such CBDCs will go from having no adoption to being accepted by almost all businesses as soon as they are released.

[goaldigger]

I won't use CBDCs for gambling. It allows you to be tracked and get a lot of information from you on how you spend your money. I'm fine with using them on other daily purchases, but perhaps not on gambling. Cryptocurrencies is what you want to use if you want to enjoy your gambling escapades. It's way easier, less complications, and provides you some level of anonymity that helps you keep the governments at bay. They might have your KYC information on the site, but they don't know how are you spending your money because you don't use what they want you to use.

This might only work to traditional casinos but in crypto, I doubt on this as we still prefer to use Bitcoin and other top coins instead of using their own token. This will also require another regulations and KYC process which physical casinos usually do to their players. If they will accept this on their online platform, make sure to read the instruction to avoid being locked due your ignorance about its rules and regulations. Let’s see if casinos will fully adopt CBDC.

[mindrust]

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.

CBDC can be a game changer if the government ban the whole stable coin, the worst case they ban all cryptocurrencies including Bitcoin. If the government force their citizens to use CBDC, we have no option because we can't reject it, especially if there's no cash is used anymore.

However I'm not supporting CBDC and I just hope the government will not ban all cryptocurrencies because it will create a huge panic.

I don't think they can ban crypto at this stage. Coinbase and Gemini are regulated legit crypto exchanges that pay taxes in the US. Banning crypto would mean destroying these big companies and any other business that depend on these exchanges. Lots of people will lose their jobs, lots of enterprises will go bankrupt and the capital will flow out of the US. The US will lose its best attraction point for the entrepreneurs. The US gov can't afford this. Crypto is here to stay, with or without CBDC.

[Helena Yu]

I think the bright side if the casino want to accept CBDC is the casino wouldn't scam and if they scam, the government can easily trace him because the owner must have conduct KYC verification before accepting CBDC. So anyone who gamble on this casino doesn't need to worry if the casino will turn scam at anytime. But don't be surprised if you have earn a lot money through gambling, you can't withdraw all of your winnings because some portion is to pay tax.

[ethereumhunter]

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.

Yes, it could trigger money laundering using other forms of money, especially if the casino doesn't report its finances in detail. But if the casinos obey the government, maybe the casinos will use CBDC and leave the old methods because of the regulation. But I don't know whether this method can comfort gamblers because if they feel uncomfortable, they will move to another casino. And even though the adoption process is starting to increase, it depends on each gambler because they will feel that comfort later.

[passwordnow]

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.

Yes, it could trigger money laundering using other forms of money, especially if the casino doesn't report its finances in detail. But if the casinos obey the government, maybe the casinos will use CBDC and leave the old methods because of the regulation. But I don't know whether this method can comfort gamblers because if they feel uncomfortable, they will move to another casino. And even though the adoption process is starting to increase, it depends on each gambler because they will feel that comfort later.

And what's good for them is if it's registered on their issuer which could be their central bank and it's got a traceable item or code then they'll be able to figure out if it's been used in money laundering or not. But I don't think that it will be quick that they'll leave the usual methods that they've got. The more, the merrier in terms of accepted payment methods and that's favoring more their customers instead of abandoning one method where their customers have been used to.

[TheGreatPython]

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.

There's a big difference between them and that is CBDC run's in the blockchain (just like a typical crypto.) The other and most obvious one is CBDC is digital. Apart from CBDC we also have stable coins here in the world of crypto which have a characteristic same with the fiats. If a non-fiat casino or a crypto casino allows stable coins then why not CBDC?

Other crypto casino did even accept banks, visa cards and other payment methods which are close to fiats. CBDCs aren't a game changer anymore because we already saw what they can do in the stable coins but CBDC is considered legit too and they are in fact more trusted by the banks and governments than the standard cryptos that we have these days.

[noormcs5]

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.

CBDC can be a game changer if the government ban the whole stable coin, the worst case they ban all cryptocurrencies including Bitcoin. If the government force their citizens to use CBDC, we have no option because we can't reject it, especially if there's no cash is used anymore.

However I'm not supporting CBDC and I just hope the government will not ban all cryptocurrencies because it will create a huge panic.

If there will be government issued CBDC, gamblers can use if for playing and betting. However, there will no restrictions that we have to use CBDC for gambling and cannot use bitcoin or crypto for gambling.
However, i would take it in a positive way as there are still many gamblers who do not believe in bitcoin and want to bet using dollars or their own fiat money. Now those people can use digital money for gambling too, hence the online crypto based gambling sites can attract more players through CBDC.

There would be no restriction since these things are considered or be treated like e-fiat which the government had mold on which it would be understandable that you are dealing up with something which is regulated and been allowed.Yes, there's no limit and there would be no hesitance on making use of it but on the time that you are owning big amounts then dont get be shocked if governments eyes
would be on you.Honestly, there's no shocking thing about using up CBDC or they would decide on adding it up because it would be no to little difference on using up fiat.
What matter most is on making use of crypto even more than with these cbdc's.

My point here is that currently, we have crypto-based casinos and fiat-based casinos. The crypto based casino do not accept fiat money while fiat based casino do not accept the crypto. However with CBDC this gap can be brigued because CBDC will be digital based money but also fiat money, it can be integrated easily in crypto based casinos.

So overall CBDC will bring more business to online gambling casinos and it will also make the payment quicker and better.