Topic: The future of CBDC in gambling. - page 3. (Read 814 times)
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.
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.
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.
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.
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)
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)
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).Gambling Capital of the World Macau to accept CBDC as Legal tender
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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).
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.
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.
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.
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.
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. 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.
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.
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.
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 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. 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
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.
The governments of many countries that will support the introduction of CBDC in their states will encourage the use of CBDC in every way. Therefore, it is possible that casinos will be forced to accept CBDC for deposits. Only I think that many gamblers will not want to use CBDC in casinos or in their everyday life, because there are more anonymous ways to use money in online environment.
This is the purpose of cryptocurrency, you’ll remain anonymous and this could be one of the reason why many gamblers prefer to use crypto instead of online fiat money. If this will be implement on physical casinos like in macau, maybe this can be an option but many will surely not adopt because they are still concern about their security and if you are not living in Macau, better to use fiat instead. Personally, will not adopt not until there’s a clear rules and regulation when using CBDC.There might be some people who do look for this news to be something good but for majority on crypto enthusiast who do mind off and prefer anonymity and decentralization then this kind of changes isnt really that much of a concern.
They could add up all the things that they do want but people or the community would be still mainly supporting into those coins which it cant really be possible for someone to be traced up or to be known.
The governments of many countries that will support the introduction of CBDC in their states will encourage the use of CBDC in every way. Therefore, it is possible that casinos will be forced to accept CBDC for deposits. Only I think that many gamblers will not want to use CBDC in casinos or in their everyday life, because there are more anonymous ways to use money in online environment.
This is the purpose of cryptocurrency, you’ll remain anonymous and this could be one of the reason why many gamblers prefer to use crypto instead of online fiat money. If this will be implement on physical casinos like in macau, maybe this can be an option but many will surely not adopt because they are still concern about their security and if you are not living in Macau, better to use fiat instead. Personally, will not adopt not until there’s a clear rules and regulation when using CBDC. 
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?
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I am not sure why this is even a discussion...
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A central bank digital currency (CBDC) (also called digital fiat currency or digital base money) is a digital currency issued by a central bank, rather than by a commercial bank.
These days people turn to crypto for many reasons, and one of those reasons is definitely gambling... Simply people wish to have easy access and some level of anonymity. CBDC can't provide that... and who like fiat and "digital fiat" anyway?
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 strongly reject all forms of coercion made by the government, because there is no profit from it and even harm, the choice continues and I will choose to gamble on a platform that is not regulated by the government, to stay safe from the obligation to use CBDC
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.
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.
Well using fiat money isn't anonymous either. Neither is using cryptos. It's pseudonymous and your money can be traced and flagged if you got it from a black hat that stole it.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.
And so can your account in casino. However if you have done nothing wrong and can explain the source of your money, KYC will do just fine to fix any misunderstandings.
And using cbdc's if like using fiat money except it can be faster and cheaper to send. And obviously officials track malicious people, just like they do with fiat money.
Gamblers aren't seeing CBDC as any kind if money, what they want is to gamble with crypto and not fiat, how many gambkers were notlw using fiat to gamble nowadays, just few for the sake of those using a physical location center for gambling, but most online gambling these days were been done using cryptocurrencies for their stake since they comes with an added advantage of casino wallet thet generate them a wallet address, people were tired or fiat and crypto is now the trend everyone is adoption, cbdc is like going back to old vomit.
If they are a hater of fiat yes but I think not all who use crypto hates fiat. They still see fiat and CBDC as a money but the main reason why they prefer a crypto is to become anonymous. Cryptos and crypto gambling have grown too much. That is a sign that many people are now using a crypto instead of fiats but there's also users who are hybrid and willing to use both payment methods.Offline casinos might be declining now and fiat online casinos are emerging. Many of those who play on them didn't even knew or trust crypto yet. Online casinos gives us a wallet but I don't see this as an advantage. We may be tempted to use the money that we deposit there and there's also a chance that the casino can shutdown or turned into a scam.
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 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.
The governments of many countries that will support the introduction of CBDC in their states will encourage the use of CBDC in every way. Therefore, it is possible that casinos will be forced to accept CBDC for deposits. Only I think that many gamblers will not want to use CBDC in casinos or in their everyday life, because there are more anonymous ways to use money in online environment.
Gamblers aren't seeing CBDC as any kind if money, what they want is to gamble with crypto and not fiat, how many gambkers were notlw using fiat to gamble nowadays, just few for the sake of those using a physical location center for gambling, but most online gambling these days were been done using cryptocurrencies for their stake since they comes with an added advantage of casino wallet thet generate them a wallet address, people were tired or fiat and crypto is now the trend everyone is adoption, cbdc is like going back to old vomit.
The right thing to say is that cryptocurrency gamblers are not interested in using CBDC because there is no difference between these digital currency and fiat. This is because many fiat gamblers in my country will be glad to use CBDC because they seems to overcome some of the problems of online banking which includes network failures and other transaction issues. Also, people will embrace CBDCs in countries where cryptocurrencies are restricted or banned because they are viable alternative. Although most casinos insist on KYC, using CBDC for gambling is another means of giving out your privacy to the casino company, banks and government. Regardless of how enticing the benefits of using CBDC might look, most gambles that are conscious of their privacy and security will always prefer to use cryptocurrencies.
In spite of that CBDC will still be used by people in many ways including gambling. It's the easiest to use especially when the government makes it not easy for everyone to access crypto. This will happen regardless of how much warning we expose what CBDC can do to your money.
There are people who don't care about privacy, we do have them in crypto. But one thing that CBDC will be pushed is that government can easily tax someone like a gambler winning thousands.
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