Bitcoin and casinos - page 6. | Bitcointalksearch.org

Saisher

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Quote from: NeCrypto123 on September 24, 2019, 01:13:46 AM

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

Once they tested it and it's compatible with their system, they integrated it and make part of their system, casino operator wants convenience for their users, and so far online casinos are ok with integrating Bitcoin offline casinos are going to be the next inline, Bitcoin is in the adoption period so many industry are testing how to integrate it.

Betwrong

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Quote from: deisik on October 15, 2019, 06:24:02 AM

So you want to play poker but for some obscure and incomprehensible reason don't want to have anything to do with Bitcoin

Not me, of course, but, most of the people don't want to have anything to do with Bitcoin. They avoid it like the plague, sometimes to the point that they don't want to even hear about it. I know this from my own experience, and I think you know this too.

I'm talking about regular people, people with lack of knowledge. Casino owners are not like them. They are either educated themselves or have educated advisers, so they are not afraid of Bitcoin, but they must take into account the views of their customers.

So, I still think that, for the moment, the the best way of implementing Bitcoin in land based casinos is exchanging them for chips by casino cashiers.

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Quote from: swogerino on October 07, 2019, 07:23:10 AM

It is not as massive as it is in the internet but some of the major casinos in the world happens to accept bitcoin.Bitcoin is a digital currency and as such finds most of its use in a digital form.Online casinos are opening up very often and they all have one major thing in common,they use and accepts bitcoin and other crypto currencies for their main operation.This will not change,bitcoin will always prevail in the digital form most of the time in casinos.

But yet not enough because we need Live casino that accept bitcoin or even altcoins directly without conversion .in which I am sure that some company are working out because they knew the demand of cryptocurrency worldwide and if they did not adopt this logic then they will left behind

Hoping sooner we will be having this here in Asia as sometimes we are staying longer in casino and our cash runs out,and we can’t convert our bitcoin instantly so having accepted crypt is really a advantage

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Quote from: Betwrong on October 15, 2019, 02:52:47 AM

Quote from: deisik on October 14, 2019, 01:32:36 AM

If the chips in question are denominated in Bitcoin itself, the problem of volatility is solved automatically (in fact, it doesn't even arise in the first place). That would mean your losses as well as winnings are still denominated in Bitcoin. So no matter how much Bitcoin's dollar price changes, the casino wouldn't be affected by this change. Indeed, their Bitcoin bankroll would have then to be in actual bitcoins (to pay out what's due), but isn't it exactly what online casinos keep their bankrolls in anyway?

In this case they would need to have two different kinds of chips: regular ones and some with a sign of BTC on them so that a casino cashier knew what to give in exchange for those chips. It would work fine with slot machines, but think of a poker table. What if other players don't want those bitcoin chips? Theoretically, dealers could constantly make adjustments according to the current exchange rate, but imaging what a headache it would be for them

But let's admit it, this is a minor issue really

So you want to play poker but for some obscure and incomprehensible reason don't want to have anything to do with Bitcoin (even though "when money talks bullshit walks" and all such witticisms). But you play and you win, ending up with your pockets full of Bitcoin chips

And so what? The winner takes it all, right? So it is not a casino's headache, not in the least. Yep, you got it right - it is the loser who is to pay for the "adjustments according to the current exchange rate" (unless the winner changes his mind in the process, so to speak)!

Betwrong

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Quote from: deisik on October 14, 2019, 01:32:36 AM

Quote from: Betwrong on October 13, 2019, 10:01:47 AM

Quote from: Slow death on October 11, 2019, 02:17:23 PM

Quote from: iamsheikhadil on October 11, 2019, 01:25:08 AM

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

but offline casinos that implement bitcoin as a payment method can have long term losses, you saw that until recently the price was $ 12000 and now the price is $ 8000, i wonder how offline casinos would do to avoid having big losses if they accepted bitcoin as a means of payment. A few years from now (maybe 10 years) when the market is very large and not manipulated and regulated, I believe offline casinos will be happy to add bitcoin as a means of payment.

For land based casinos accepting crypto would be a good feature that would attract new audience to their premises. How to avoid possible losses? That's easy. They can accept BTC or any other crypto in exchange for casino chips at an undervalued exchange rate, say, $105 worth of BTC for a $100 chip, and exchange crypto for fiat themselves right away. It is very unlikely that they could lose anything this way. And for crypto holders wanting to gamble, 5% is nothing

They don't need that

If the chips in question are denominated in Bitcoin itself, the problem of volatility is solved automatically (in fact, it doesn't even arise in the first place). That would mean your losses as well as winnings are still denominated in Bitcoin. So no matter how much Bitcoin's dollar price changes, the casino wouldn't be affected by this change. Indeed, their Bitcoin bankroll would have then to be in actual bitcoins (to pay out what's due), but isn't it exactly what online casinos keep their bankrolls in anyway?

In this case they would need to have two different kinds of chips: regular ones and some with a sign of BTC on them so that a casino cashier knew what to give in exchange for those chips. It would work fine with slot machines, but think of a poker table. What if other players don't want those bitcoin chips? Theoretically, dealers could constantly make adjustments according to the current exchange rate, but imaging what a headache it would be for them. )

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Quote from: iamsheikhadil on October 11, 2019, 01:25:08 AM

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

Right now most off line casinos do not see the need to accept bitcoin, we need to be realistic, how many gamblers do you think have asked those casinos if they could let them play with their bitcoin? In fact years ago I asked that question to a casino manager and he did not even knew what bitcoin was, then i discovered any chance of bitcoin being adopted by any casino is almost zero in my country.

However if bitcoin begins to become more popular around the world then you will see bitcoin being adopted by all kind of business including casinos.

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Quote from: yvesp110 on October 13, 2019, 02:22:24 PM

Quote from: Golftech on October 11, 2019, 01:59:42 AM

Quote from: iamsheikhadil on October 11, 2019, 01:25:08 AM

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

Which can be a good start to any offline casino bringing new ways of payment system, it will not that long for us to see that establishment like casino house will offer this same with how we are expecting that big businesses will also adopt and embrace this chain.

Bitcoin is also a good asset in the other hands if the owner of the casino aims to hold there's a lots of opportunities same with what you have said.

Bitcoin holders are going to support this concept a lot and even those who are not using bitcoin would also be able to find out about this amazing currency. In this way, bitcoin users will increase in leaps because gambling is a game which is played all over the world and people love it. Holing bitcoins that you win in gambling can easily make you rich.

Bitcoin is going to help casinos owners to get more and more customers or gamblers. This will not only increase the worth of bitcoin but also expand the business of casino owners. I am pretty sure that already many casinos must be dealing in bitcoin or they themselves have bitcoin as assets or side business to make good money.

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Quote from: NeCrypto123 on September 24, 2019, 01:13:46 AM

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

I thought this thread was created three years ago but this is a new post just this year, it's already happening there are casinos that already using Bitcoin on their casinos, online casinos will be taken over by Casinos using Cryptocurrency, I'm pretty sure this is the future of online casinos.
Gambling is the first industry that adopted cryptocurrency and it's very successful we'll see many more industries adopting Cryptocurrency to integrate it into their business.

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Quote from: carlisle1 on October 14, 2019, 12:19:30 AM

Quote from: wxa7115 on October 07, 2019, 02:46:53 PM

Quote from: NeCrypto123 on September 24, 2019, 01:13:46 AM

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

I have yet to see a physical casino that accepts bitcoin but in theory it should not be that hard, you could exchange your bitcoin for fiat and then you could receive casino tokens and play with them, then when you are finished if you still have some tokens left you could exchange them for bitcoin, it is not really that complex but I doubt that many casinos would like to do that since they will need to hold some bitcoin and they could lose some money in the process thanks to its volatility

but why need to exchange the crypto for fiat if we can just play using cryptocurrency?thats the point of OP why he was seeking if this is possible things that i know its yes

imagine time will come that all we need is bring our mobiles to buy chips without converting to fiat that may require fees and any other issues

just like what we are doing at home while playing online casinos wasn't that cool to have?

The direct payment of cryptocurrency towards casino chips was still working out by gambling developers, and as business still continues to move forward for innovative improvements those possibilities were highly recommended. For now don't consider those fees on conversion as big deals, because it's just affordable and I don't see any glitches which may result to failure of withdrawal or betting activities.

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Quote from: NeCrypto123 on September 24, 2019, 01:13:46 AM

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

While most of the answer is Bitcoin can be converted to Fiat,yet the fact that bitcoin can be used directly is advantage.this can help direct access and help the crypto market also because sometimes gamblers can be carried away betting while enjoying and don’t mind how much bitcoin or any other cryptocurrency they are using or spending

But I think it’s not happening now,or maybe there are some company that considering this because it’s already happening in online casino then why not in real life

deisik

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Quote from: Betwrong on October 13, 2019, 10:01:47 AM

Quote from: Slow death on October 11, 2019, 02:17:23 PM

Quote from: iamsheikhadil on October 11, 2019, 01:25:08 AM

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

but offline casinos that implement bitcoin as a payment method can have long term losses, you saw that until recently the price was $ 12000 and now the price is $ 8000, i wonder how offline casinos would do to avoid having big losses if they accepted bitcoin as a means of payment. A few years from now (maybe 10 years) when the market is very large and not manipulated and regulated, I believe offline casinos will be happy to add bitcoin as a means of payment.

For land based casinos accepting crypto would be a good feature that would attract new audience to their premises. How to avoid possible losses? That's easy. They can accept BTC or any other crypto in exchange for casino chips at an undervalued exchange rate, say, $105 worth of BTC for a $100 chip, and exchange crypto for fiat themselves right away. It is very unlikely that they could lose anything this way. And for crypto holders wanting to gamble, 5% is nothing

They don't need that

If the chips in question are denominated in Bitcoin itself, the problem of volatility is solved automatically (in fact, it doesn't even arise in the first place). That would mean your losses as well as winnings are still denominated in Bitcoin. So no matter how much Bitcoin's dollar price changes, the casino wouldn't be affected by this change. Indeed, their Bitcoin bankroll would have then to be in actual bitcoins (to pay out what's due), but isn't it exactly what online casinos keep their bankrolls in anyway?

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Quote from: wxa7115 on October 07, 2019, 02:46:53 PM

Quote from: NeCrypto123 on September 24, 2019, 01:13:46 AM

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

I have yet to see a physical casino that accepts bitcoin but in theory it should not be that hard, you could exchange your bitcoin for fiat and then you could receive casino tokens and play with them, then when you are finished if you still have some tokens left you could exchange them for bitcoin, it is not really that complex but I doubt that many casinos would like to do that since they will need to hold some bitcoin and they could lose some money in the process thanks to its volatility

but why need to exchange the crypto for fiat if we can just play using cryptocurrency?thats the point of OP why he was seeking if this is possible things that i know its yes

imagine time will come that all we need is bring our mobiles to buy chips without converting to fiat that may require fees and any other issues

just like what we are doing at home while playing online casinos wasn't that cool to have?

elda34b

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Quote from: Slow death on October 11, 2019, 02:17:23 PM

but offline casinos that implement bitcoin as a payment method can have long term losses, you saw that until recently the price was $ 12000 and now the price is $ 8000, i wonder how offline casinos would do to avoid having big losses if they accepted bitcoin as a means of payment. A few years from now (maybe 10 years) when the market is very large and not manipulated and regulated, I believe offline casinos will be happy to add bitcoin as a means of payment.

I think it's easy for them to exchange the Bitcoin into fiat or stable coins when necessary. After all, there's nothing stopping them from doing that. You don't have to keep your Bitcoin forever, especially if it's volatile and can swing 20% in a day.

I believe most business also do that atm, can't blame them.

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Quote from: Golftech on October 11, 2019, 01:59:42 AM

Quote from: iamsheikhadil on October 11, 2019, 01:25:08 AM

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

Which can be a good start to any offline casino bringing new ways of payment system, it will not that long for us to see that establishment like casino house will offer this same with how we are expecting that big businesses will also adopt and embrace this chain.

Bitcoin is also a good asset in the other hands if the owner of the casino aims to hold there's a lots of opportunities same with what you have said.

Bitcoin holders are going to support this concept a lot and even those who are not using bitcoin would also be able to find out about this amazing currency. In this way, bitcoin users will increase in leaps because gambling is a game which is played all over the world and people love it. Holing bitcoins that you win in gambling can easily make you rich.

Betwrong

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Quote from: Slow death on October 11, 2019, 02:17:23 PM

Quote from: iamsheikhadil on October 11, 2019, 01:25:08 AM

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

but offline casinos that implement bitcoin as a payment method can have long term losses, you saw that until recently the price was $ 12000 and now the price is $ 8000, i wonder how offline casinos would do to avoid having big losses if they accepted bitcoin as a means of payment. A few years from now (maybe 10 years) when the market is very large and not manipulated and regulated, I believe offline casinos will be happy to add bitcoin as a means of payment.

For land based casinos accepting crypto would be a good feature that would attract new audience to their premises. How to avoid possible losses? That's easy. They can accept BTC or any other crypto in exchange for casino chips at an undervalued exchange rate, say, $105 worth of BTC for a $100 chip, and exchange crypto for fiat themselves right away. It is very unlikely that they could lose anything this way. And for crypto holders wanting to gamble, 5% is nothing.

Slow death

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Quote from: iamsheikhadil on October 11, 2019, 01:25:08 AM

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

but offline casinos that implement bitcoin as a payment method can have long term losses, you saw that until recently the price was $ 12000 and now the price is $ 8000, i wonder how offline casinos would do to avoid having big losses if they accepted bitcoin as a means of payment. A few years from now (maybe 10 years) when the market is very large and not manipulated and regulated, I believe offline casinos will be happy to add bitcoin as a means of payment.

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Quote from: iamsheikhadil on October 11, 2019, 01:25:08 AM

If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

Which can be a good start to any offline casino bringing new ways of payment system, it will not that long for us to see that establishment like casino house will offer this same with how we are expecting that big businesses will also adopt and embrace this chain.

Bitcoin is also a good asset in the other hands if the owner of the casino aims to hold there's a lots of opportunities same with what you have said.

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If offline casinos implement such a system, it will really be wonderful. And it will be really beneficial for the casino as with all the winnings, if they hold it long term, the profit value increases automatically as the price rises of crypto. Hence, it is really something that should be implemented. I think Japan might have some offline casinos that accept crypto.

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Quote from: leea-1334 on October 08, 2019, 04:41:47 AM

Quote from: swogerino on October 07, 2019, 07:23:10 AM

It is not as massive as it is in the internet but some of the major casinos in the world happens to accept bitcoin.Bitcoin is a digital currency and as such finds most of its use in a digital form.Online casinos are opening up very often and they all have one major thing in common,they use and accepts bitcoin and other crypto currencies for their main operation.This will not change,bitcoin will always prevail in the digital form most of the time in casinos.

Um no, not all of online casinos have this major thing in common,,, in fact I would say that crypto/bitcoin casinos are still the minority when it comes to online gambling. Most of the online betting ads are still all about fiat/bank/credit card or maybe maximum paypal. Bitcoin and crypto casinos of course appear to us all the time because our google catches our search habits.

I think he just mean to say is Major crypto online casino(or I maybe wrong)because you are right there that only few online casinos are acknowledging Cryptocurrency as betting tools and the are prioritizing Fiats

Quote from: Pinkris128 on October 06, 2019, 06:44:12 AM

There are many casinos especially in Vegas that are now integrating with cyptocurrency payments. This is because they now realize the advantages of crypto over fiat in some aspects. It can also help their customers especially those who hate bringing cash. Casinos uses tokens so I can see that buying those physical tokens with crypto is a good idea.

Yeah because the Bitcoin ATMs are now spreading the whole Vegas meaning that cryptocurrency is really there and being used for gambling

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Quote from: NeCrypto123 on September 24, 2019, 01:43:23 AM

Quote from: xvids on September 24, 2019, 01:29:32 AM

Quote from: NeCrypto123 on September 24, 2019, 01:13:46 AM

I have worked for a few years in a casino and I couldn't help but imagine that people should be able to gamble with bitcoin.

Is it already happening? - I don't mean on the internet

And do you think this will be future of casinos?

There are already tons of casino games that we could play using crypto you only need to know the website.
And there are also some people who use some online games to gamble and have fun for example tongits go and other kinds of apps too.
And I don't really think that people or high roller would be interested on going at a casino just to play with their crypto specially if they could just easily do it anywhere they want.

Not on the internet. I was wondering if there is any casino that offers to gamble with crypto. If not is it ever going to happen or is there no demand for such casinos

For now i think only online casino offering bitcoin for betting but in real or live i think only cash they can accept. Sir is right many website that offer or accept bitcoin. But in offline casino no one accept bitcoin or altcoin.

Topic: Bitcoin and casinos - page 6. (Read 4147 times)