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Author Topic: [03-15-2015] Bitcoin Is Slowly Transforming Las Vegas  (Read 1639 times)
BITawBOT
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March 15, 2015, 09:45:36 PM
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http://www.btcfeed.net/educational/bitcoin-is-slowly-transforming-las-vegas/
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March 15, 2015, 09:54:04 PM
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Firstly, typical posting protocol is leaving a few paragraphs of what the content is about via the article and then people can decide whether to reward the article with actual traffic if people are interested in reading further. That said, it's nice to see BTC moving along in Vegas and before long, all casinos will be taking BTC. Even better to hear that the ATMs there are getting increased usage. However, I'd stay away from any casinos owned by Sheldon Adelson who's a war hawk neocon and a big funder of all things Bush and establishment types which is a continuing threat to mankind and libertarians.
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March 15, 2015, 10:01:34 PM
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These guys are eager to get the action that BTC online casino's are getting. But they're still forgetting their house edges... Wink
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March 16, 2015, 12:21:30 AM
 #4

"100k+ in foot traffic walk by daily."  draw drops ...

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March 16, 2015, 01:44:22 AM
 #5

I wonder what percentage of total bets in Vegas are made in Bitcoin. My estimation would be less than 0.5%. They have a daily withdrawal limit of $9999 per customer Cheesy We'll have to wait a couple of years before people start hitting this limit. 99% of Bitcoin gambling is still taking place online.

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March 16, 2015, 02:41:15 AM
 #6

I wonder what percentage of total bets in Vegas are made in Bitcoin. My estimation would be less than 0.5%. They have a daily withdrawal limit of $9999 per customer Cheesy We'll have to wait a couple of years before people start hitting this limit. 99% of Bitcoin gambling is still taking place online.

Although it is owned by 1 casino my guess is that it's used by very many people for all different reasons, and not just selling bitcoins for cash but also buying bitcoins with cash. Instead of walking around with cash, just buy some btc transfer it to an electronic wallet and funds are relatively safe.

If a btc atm was up to 10 miles from me I might find reasons to use it at times, even with the heavy fees.  My point is people will travel for miles to do a btc transaction.

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March 16, 2015, 04:27:14 AM
 #7

Frankly I was expecting more awesome news, something like: 'all great casinos of Vegas are now bitcoin friendly'. But there are more than 70 casinos in Las Vegas and two of them are accepting bitcoin now? And CoinCloud put 2 BTM in Vegas? It is not that impressive and I wouldn't  call that a huge change, it is but it is a start. A first step in good direction and we have to start somewhere...


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March 16, 2015, 09:21:46 AM
 #8

The addition of the 2 BTMs is definitely a start for Bitcoin acceptance in LV and other technology driven cities.

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March 16, 2015, 09:51:21 AM
 #9

Frankly I was expecting more awesome news, something like: 'all great casinos of Vegas are now bitcoin friendly'. But there are more than 70 casinos in Las Vegas and two of them are accepting bitcoin now? And CoinCloud put 2 BTM in Vegas? It is not that impressive and I wouldn't  call that a huge change, it is but it is a start. A first step in good direction and we have to start somewhere...

Huh, how many cities in the US has bitcoin ATMs?  ... now how many have 2?

How far is your nearest public bitcoin ATM?   be reasonable

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March 16, 2015, 10:34:39 AM
 #10

Everyone can see the prove right here on BCT. Gambling is a large sector in the bitcoin economy. Las Vegas is the capital of the casino world and they will not pass on an opportunity to bring in more players. Bitcoin is not transforming Las Vegas yet. According to the article, there are only 2 casinos accepting bitcoin and the rest are hesitant:

Quote
The biggest obstacle has been getting the compliance and legal teams on board. They are ultra risk averse and do not want to do anything with perceived risk that could threaten their gaming license.

I believe this obstacle is the same for other sectors, not only for casinos. Bitcoin adoption needs legal and financial clarity.
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March 16, 2015, 05:44:00 PM
 #11

I wonder what percentage of total bets in Vegas are made in Bitcoin. My estimation would be less than 0.5%. They have a daily withdrawal limit of $9999 per customer Cheesy We'll have to wait a couple of years before people start hitting this limit. 99% of Bitcoin gambling is still taking place online.

Although it is owned by 1 casino my guess is that it's used by very many people for all different reasons, and not just selling bitcoins for cash but also buying bitcoins with cash. Instead of walking around with cash, just buy some btc transfer it to an electronic wallet and funds are relatively safe.

If a btc atm was up to 10 miles from me I might find reasons to use it at times, even with the heavy fees.  My point is people will travel for miles to do a btc transaction.


Do you really believe that a person who packed his bags and went to spend a weekend in Vegas to drink and gamble will invest in Bitcoin in a random ATM. This person will be focused on how much cash they got left to play with, not on long term investments or browsing sites to install a wallet.

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March 17, 2015, 12:27:04 AM
 #12

I wonder what percentage of total bets in Vegas are made in Bitcoin. My estimation would be less than 0.5%. They have a daily withdrawal limit of $9999 per customer Cheesy We'll have to wait a couple of years before people start hitting this limit. 99% of Bitcoin gambling is still taking place online.

Although it is owned by 1 casino my guess is that it's used by very many people for all different reasons, and not just selling bitcoins for cash but also buying bitcoins with cash. Instead of walking around with cash, just buy some btc transfer it to an electronic wallet and funds are relatively safe.

If a btc atm was up to 10 miles from me I might find reasons to use it at times, even with the heavy fees.  My point is people will travel for miles to do a btc transaction.


Do you really believe that a person who packed his bags and went to spend a weekend in Vegas to drink and gamble will invest in Bitcoin in a random ATM. This person will be focused on how much cash they got left to play with, not on long term investments or browsing sites to install a wallet.


My driving point is that the ATM may be at a casino to withdraw money to use at the casino, HOWEVER, my guess is that most of the usage is done by locals putting in money and taking out money. 

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March 17, 2015, 11:57:39 AM
 #13

At the next bachelor's party I will make sure I do not take a wad of cash to the Casino ^smile^
I was wondering how many other merchants around Vegas accept BTC
Just imagine being a tourist and having to worry about losing your wallet or credit card fraud and then see how convenient it will be to use BTC ^smile^

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March 17, 2015, 03:46:40 PM
 #14

Casinos accept more post-dated checks than anywhere else (aka "customer credit"), so they might as well take something secure like Bitcoin.

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March 17, 2015, 06:24:14 PM
 #15

Firstly, typical posting protocol is leaving a few paragraphs of what the content is about via the article and then people can decide whether to reward the article with actual traffic if people are interested in reading further. That said, it's nice to see BTC moving along in Vegas and before long, all casinos will be taking BTC. Even better to hear that the ATMs there are getting increased usage. However, I'd stay away from any casinos owned by Sheldon Adelson who's a war hawk neocon and a big funder of all things Bush and establishment types which is a continuing threat to mankind and libertarians.

yup,Adelson is a right wing nutter,give him nothing   Grin
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