In the competitive world of Las Vegas gambling the casinos with the best adaptations survive and thrive while casinos which stagnate and fail to evolve wind up on the endangered list. Offering bitcoin support has to give them a significant advantage over competition via including an entire new demographic with money to burn. I think the same precedent applies to other businesses. Those who offer bitcoin(and crypto) support will thrive, while those who hesitate will fall behind.
On the downside, I would guess they don't offer bitcoin withdrawal. They have a system in place to report earnings in excess of $10,000 to the US government for tax purposes(and also supposedly a system to detect attempts @ tax evasion). Their system utilizes fiat and so I would guess cash out is in dollars only.
No they do not, at the time of their announcement which was back in 2014, (had to search for that post with an outdated picture of a small ticker like sign on the front of the casino back then - Notice the updated picture I posted above which is highly visible and catches anyones attention of passing by) allow gambling with or withdrawals back into the form of cryptocurrency.
They allow it to be used for hotel payment, in the gift shop for purchases and at the restaurant for your meals.
But that is a start! No?
It could happen in the future once they get to figure out a way to integrate into a casino token and then transfer it into fiat money for withdrawals.
They have been doing this for decades and I would like to think that the land based casinos lay the framework for cryptocurrency with their token based usage already in their casinos.
You buy the tokens with your cash and use them in the slots(casino version of quarters) and on the tables (poker chips) then once your done and ready to leave you go to the exchange counter and get your fiat money back for how many tokens you have left.
Genius!
