The future of CBDC in gambling.

[serjent05]

It's a double-edged sword. There are a lot of caveats that come with using CBDC's in general, let alone for gambling. One aspect of CBDC's is the essential removal of anonymity. You can not expect to be anonymous when using CBDC's, since they are created by governments/banks. With no anonymity, using CBDC's outside of gambling after you have gambled, could mean confiscation elsewhere because those CBDC's came from gambling.

The question is, does the gambling platform care?  I think they don't, besides crypto gambling platform is now walking the path of KYC-verified accounts.  So I think there is actually no difference if KYC is implemented of Casino Implementing CBDC.

My opinion may be biased as I would never condone the use of CBDC's. It's not a good thing for them to be implemented anywhere over bitcoin/cryptocurrency in my opinion.

But the decision to implement CBDC is not in your hands.  You can just avoid the gambling platform that implements CBDC but you will never stop both the gambling platform and government in implementing CBDC in gambling industry.  BTW, gambling platforms had been implementing fiat currency even before the cryptocurrency is accepted.

[Vaculin]

CBDC is legal tender (once it will be emitted)... so for sure ... casino will accept it! it's also their interest and probably it will become one day the only form of payment in a casino.
The only chance to see not accepter is a scenario with casino/betting illegal/banned.
But I think this is something impossible for the next decades

Yes, CBDC has its higher chances to be accepted as a legal tender in the casino but I don’t see its happening soon as cryptocurrencies are still much in demand than using CBDC. However, this is really possible as CBDC is a legal form of currency and is always backed by a central bank, so definitely if the government will make a rule to make CBDC as the only currency that will be accepted in casinos, then we as gamblers should always abide with it and consider cryptocurrencies as no place in gambling.

[Alisha-k]

Whether the CBDC is accepted or not, I do not think it'll enhance the economy or reduce the current inflation.
It is not a crypto currency afterall. But I think it'll be easier to adopt the CBDC as legal tender than to adopt crypto currency.

[bittraffic]

Whether the CBDC is accepted it not, I do not think it'll enhance the economy or reduce the current inflation.
It is not a crypto currency afterall. But I think it'll be easier to adopt the CBDC as legal tender than to adopt crypto currency.

CBDC is developed by the government of course it will be adopted as an alternative to the real fiat we use right now. Basically, it's what we are going to be using, it's going to be normalized and we can use it anywhere including gambling online.

But they do have digital control of your spending, if they see you spend more on gambling I guess they can turn off your app to not work on casinos and you can only buy Mcdonald's chips. 

[Mr.suevie]

Whether the CBDC is accepted it not, I do not think it'll enhance the economy or reduce the current inflation.
It is not a crypto currency afterall. But I think it'll be easier to adopt the CBDC as legal tender than to adopt crypto currency.

CBDC is developed by the government of course it will be adopted as an alternative to the real fiat we use right now. Basically, it's what we are going to be using, it's going to be normalized and we can use it anywhere including gambling online.

But they do have digital control of your spending, if they see you spend more on gambling I guess they can turn off your app to not work on casinos and you can only buy Mcdonald's chips. 

they can control your funds at anytime they want, and that's the whole concept about the fiat currency, the government always wants to stay in power and they can determined your spending just like you have already stipulated. CBDC is the same with fiat is just that one is digital fiat and the other is kinda physical so calling it anything other than is an error to the system and of course it won't be a problem for them to adopt this digital cash because the government are still going to be the one in control but that's the latter with cryptocurrency.

[retreat]

To be honest the government would really agree if CBDC is implemented on a casino platform because it is their product, they won't reject it because they want it to be popular in society, but of course American CBDC products may not be accepted in Macau, or vice versa, maybe users need to exchange them on exchanges provided by the government, just as fiat is exchanged on money changers. So we'll see how the CBDC will be implemented by the government in the future.

Only countries that legalize online gambling are likely to implement this, but isn't what will be used for online gambling sites for payment will depend on the owner of the gambling site? I mean even though the government legalizes online gambling and also has a CBDC, it can't force this type of payment on online gambling sites unless they make it mandatory. CBDC is the same as fiat so gambling sites that have previously accepted fiat will implement it, crypto casinos might consider it because many prefer digital currency over crypto because the price is the same as fiat where sometimes volatility is not so favorable and can reduce the profit get because when we withdraw the price of crypto is going down and when we are going to exchange it for fiat it will decrease again because of transaction costs.

Maybe that will be an exception for online gambling sites because most of these online gambling sites are not under government regulation, so they can be considered illegal and they can freely choose the right payment method for their platform. In contrast to offline casino platforms, most of these platforms are under government regulation because they pay taxes and like it or not they have to comply with government regulations, maybe that's by using CBDC on their platform.

[Pierre 2]

I think CBDCs will definitely come. I don't think we can evade their adoption because most of governments like idea of issuing digital currency to inflate markets even more. They never care about people. I think gambling websites will quickly adopt it. Pretty sure they prefer CBDC over regular fiat money that they need to deposit at banks of people. It can possibly cut costs. But honestly speaking its hard for me to say CBDC will help customers as they (governments) will definitely monitor their own digital money.

[noorman0]

It raised the question of it this will prompt casino's in the city to begin accepting CBDC's for gambling?

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

Implementation will be mandatory for citywide casinos if this suggestion is accepted (in the OP's article).

The “Legal regime for the creation and issuance of currency” bill also suggests making it an administrative misdemeanour to refuse to accept legal cash, punishable by fines ranging from 1,000 MOP (US$123.70) to 10,000 MOP (US$1,237).

This will probably be a full-fledged transitional process that reduces the city's significant cash circulation especially foreign currency from overseas gamblers (unless they also intend to accept existing global CBDCs).

[Kakmakr]

Well, Central Bank Digital Currency (CBDC) are actually just a digital version of Fiat currencies, so regulators will have no problem if people use it at casinos. It will even help them to track money laundering and also to gather information on people's tax obligations.

This was actually developed to counter the affect that Crypto currencies has on the financial sector and I think they will introduce this as the "only" digital currency that will be legal in the future. (It will totally destroy any form of financial privacy) 

[traderethereum]

To be honest the government would really agree if CBDC is implemented on a casino platform because it is their product, they won't reject it because they want it to be popular in society, but of course American CBDC products may not be accepted in Macau, or vice versa, maybe users need to exchange them on exchanges provided by the government, just as fiat is exchanged on money changers. So we'll see how the CBDC will be implemented by the government in the future.

Only countries that legalize online gambling are likely to implement this, but isn't what will be used for online gambling sites for payment will depend on the owner of the gambling site? I mean even though the government legalizes online gambling and also has a CBDC, it can't force this type of payment on online gambling sites unless they make it mandatory. CBDC is the same as fiat so gambling sites that have previously accepted fiat will implement it, crypto casinos might consider it because many prefer digital currency over crypto because the price is the same as fiat where sometimes volatility is not so favorable and can reduce the profit get because when we withdraw the price of crypto is going down and when we are going to exchange it for fiat it will decrease again because of transaction costs.

Maybe that will be an exception for online gambling sites because most of these online gambling sites are not under government regulation, so they can be considered illegal and they can freely choose the right payment method for their platform. In contrast to offline casino platforms, most of these platforms are under government regulation because they pay taxes and like it or not they have to comply with government regulations, maybe that's by using CBDC on their platform.

The government wants to control casinos which are big businesses with the potential to get additional income for a country that is also big.
Implementing CBDC which is a government product, can allow casinos to get legality from the government because they have supported the government's wishes.
This may later apply to other businesses so that other people or businesses can accept CBDC as well as in the gambling business.
And the casino will also provide this CBDC as an alternative option for depositing and withdrawing for its members.

[Z390]

All gambling platforms available in the world today can start accepting CBDC but me as a person will never use that currency, and it is not possible for the government to order all gambling platform to reject all other currencies and accept on CBDC for gambling, this is not possible, so I have no problem using cryptocurrency to keep gambling after CBDC get launched or failed, I don't care.

[kenshi222]

Central Bank Digital Currency is the long term preservative one.The bitcoin will be the best option to make the CBDC to the world digital currency.When the bitcoin become a CBDC,the most of the gambling site will make it as the mode of coin use in the gambling.Maybe it became the only acceptable cryptocurrency in all the gambling sites.It will increase the price of bitcoin to 200k dollars at the time of the implementation.Even the United States will allow the bitcoin to become a CBDC for the other currencies after they had control over the cryptocurrency and the bitcoin.

So bitcoin will become the deposit in the bank and act as a mode of transaction.All the government may implement their own cryptocurrency as Digital Currency.Because every country need of their own cryptocurrency at the time of all countries had own digital cryptocurrency.When the United States created their digital cryptocurrency,the competition between bitcoin and US based Digital currency.

[Fatunad]

All gambling platforms available in the world today can start accepting CBDC but me as a person will never use that currency, and it is not possible for the government to order all gambling platform to reject all other currencies and accept on CBDC for gambling, this is not possible, so I have no problem using cryptocurrency to keep gambling after CBDC get launched or failed, I don't care.

Its just fiat and it is really just the same on which if we are a crypto enthusiast whom do mainly support about decentralization then you would definitely not able to see these things to be interesting.
Its not really that totally different when you do make use of fiat which it would be better if we do stick on making use of Bitcoin  and other decentralized altcoins.
This is why its not really that something interesting on looking up which this kind of addition which it isnt something that really a big chance.
We arent needing these things honestly.

[Yatsan]

All gambling platforms available in the world today can start accepting CBDC but me as a person will never use that currency, and it is not possible for the government to order all gambling platform to reject all other currencies and accept on CBDC for gambling, this is not possible, so I have no problem using cryptocurrency to keep gambling after CBDC get launched or failed, I don't care.

Its just fiat and it is really just the same on which if we are a crypto enthusiast whom do mainly support about decentralization then you would definitely not able to see these things to be interesting.
Its not really that totally different when you do make use of fiat which it would be better if we do stick on making use of Bitcoin  and other decentralized altcoins.
This is why its not really that something interesting on looking up which this kind of addition which it isnt something that really a big chance.
We arent needing these things honestly.

Also, if fees would be higher then for sure people in this industry won't be even encouraged to support this digital currency to be used in gambling. Indeed it is just fiat and for sure rates would be the same. People who engaged to cryptogambling has their own reasons to switch and one is to avoid taxes in terms of withdrawal. What has been announced regarding Macau based online gambling platforms, I guess, won't mean a thing in cryptogambling industry. This industry follows the trend. If more people would prefer crypto in betting, then why would they go up against the 'current'?  But I can atleast see the impact of this; acceptance of gambling industry to more countries, and not solely with the used medium.

[redsun114]

Ain't no lie, the future of gambling with CBDCs is shining like the Vegas strip! Digital currencies are stepping up, and the gambling game ain't the same since the first Bitcoin casino popped up back in 2012. Now, CBDCs enter the scene, and we can bet on the gambling world getting even more digital.

It's only natural to accept CBDCs as tender in Macau, the gambling capital of the world. The casinos are vital to their economy, thus they must be open to change if they are to survive. Macau's casinos will likely begin courting CBDCs in the near future.

It's probably better if it stays only within land-based casinos and they don't force online or crypto casinos to also implement or accept CBDCs as a payment option or an option that users can use to bet within games. If that happens, I'm sure they will slowly start forcing the casinos to stop accepting cryptocurrencies anymore since that is their primary goal.

All they want is to replace cryptocurrencies with CBDCs everywhere possible so that they can gain control over the finances of people which they can't do as long as they are using cryptocurrencies. So they are pushing CBDCs ahead to force-replace cryptocurrencies.

[_act_]

All gambling platforms available in the world today can start accepting CBDC but me as a person will never use that currency, and it is not possible for the government to order all gambling platform to reject all other currencies and accept on CBDC for gambling, this is not possible, so I have no problem using cryptocurrency to keep gambling after CBDC get launched or failed, I don't care.

Even as there is fiat now, I can still use bitcoin and other crypto to gamble, even there are some sites that accept just crypto as there are some that only accept fiat too. CBDCs not more than fiat, they are fiat and if they are created, it is not going to change anything. There is even possibility that many sites may choose not to accept CBDCs first unless they see their customers requesting for it too much, or they see other sites accepting it already.

[jrrsparkles]

Governments doesn't really force CBDC to be adopted by any service platforms, they use this as a tool to tackle the crypto currency when people say fiat system is old so government claims their current CBDC is same as blockchain and with most people unaware of what is decentralised money will go after CBDC. However about the casinos there won't be much affect for Bitcoin or other cryptos due to the inclusion of CBDC cause it's going to affect the fiat based users more in my opinion.

[Silberman]

Governments doesn't really force CBDC to be adopted by any service platforms, they use this as a tool to tackle the crypto currency when people say fiat system is old so government claims their current CBDC is same as blockchain and with most people unaware of what is decentralised money will go after CBDC. However about the casinos there won't be much affect for Bitcoin or other cryptos due to the inclusion of CBDC cause it's going to affect the fiat based users more in my opinion.

I am not so sure that governments are going to take such a relaxed stance when it comes to CBDCs, governments are going to make their coins legal tender, and by definition that means that any person or businesses conducting transactions on their territory has to accept those coins, and once those coins are released it would not surprise me that they aggressively promoted their coins over the stable coins we have today, and it is even possible they attack them directly and make them illegal for people to hold.

[Fatunad]

All gambling platforms available in the world today can start accepting CBDC but me as a person will never use that currency, and it is not possible for the government to order all gambling platform to reject all other currencies and accept on CBDC for gambling, this is not possible, so I have no problem using cryptocurrency to keep gambling after CBDC get launched or failed, I don't care.

Its just fiat and it is really just the same on which if we are a crypto enthusiast whom do mainly support about decentralization then you would definitely not able to see these things to be interesting.
Its not really that totally different when you do make use of fiat which it would be better if we do stick on making use of Bitcoin  and other decentralized altcoins.
This is why its not really that something interesting on looking up which this kind of addition which it isnt something that really a big chance.
We arent needing these things honestly.

Also, if fees would be higher then for sure people in this industry won't be even encouraged to support this digital currency to be used in gambling. Indeed it is just fiat and for sure rates would be the same. People who engaged to cryptogambling has their own reasons to switch and one is to avoid taxes in terms of withdrawal. What has been announced regarding Macau based online gambling platforms, I guess, won't mean a thing in cryptogambling industry. This industry follows the trend. If more people would prefer crypto in betting, then why would they go up against the 'current'?  But I can atleast see the impact of this; acceptance of gambling industry to more countries, and not solely with the used medium.

Knowing that CBDC's are equal to fiat or something a stable coin then its expected that fees would be lesser or just simply on minimal and wont really be getting in line compared to those current decentralized coins that we do have.Somewhat even this is the case then people wont really be seeing this to be an interesting thing because it isnt really that something attached if we do speak about recognition of crpytocurrency which
cbdc has nothing to do with this.If we do really like to see something interesting on gambling field then we dont want more payment options but rather we do really like to see something new
or interesting when it comes to game offerings.

[maydna]

Governments doesn't really force CBDC to be adopted by any service platforms, they use this as a tool to tackle the crypto currency when people say fiat system is old so government claims their current CBDC is same as blockchain and with most people unaware of what is decentralised money will go after CBDC. However about the casinos there won't be much affect for Bitcoin or other cryptos due to the inclusion of CBDC cause it's going to affect the fiat based users more in my opinion.

We hope so but cannot know what the government wants in the future. If they want CBDC to be adopted by any service platform, they can do it easily because they can force it on any service owner. However, the government really doesn't like crypto that can protect the anonymity of its users so maybe in the future, the government will still ask for services to add CBDC to its system. Hopefully, it doesn't affect bitcoin and other cryptos, but we just have to be more careful. Perhaps, using CBDC provides convenience for ordinary users but not crypto users.