The future of CBDC in gambling. - page 4.

Zlantann

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Quote from: 348Judah on March 27, 2023, 06:35:16 AM

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.

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Quote from: retreat on March 27, 2023, 02:17:39 AM

Quote from: ethereumhunter on March 24, 2023, 06:48:40 AM

Maybe CBDC has a good future too but I don't know because it also depends on the approval of each government. If they don't allow CBDCs, gamblers will revert to their previous form because that's what made them comfortable depositing and withdrawing their money.

But crypto gamblers will probably still use crypto casinos to play gambling. They will not switch to using CBDC or other forms because they have found comfort in playing gambling. But it seems that the development of CBDCs in the future, especially for cities that allow gambling, can be faster than in other cities.

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.

Zlantann

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Quote from: 348Judah on March 27, 2023, 06:35:16 AM

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.

Viscore

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Quote from: Jawhead999 on March 25, 2023, 09:26:47 AM

Quote from: mindrust on March 25, 2023, 08:58:52 AM

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.

This could be possible as the government will certainly favor CBDC over cryptocurrencies. So if the government will stick to CBDC as the legal tender when it comes to legal gambling casinos, then we have no choice but to follow the rule. However, I don’t see this happening soon, and I’m not actually looking forward to make it happen. Between CBDC and cryptocurrencies, it’s still best to gamble with decentralized ones.

348Judah

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Quote from: KiaKia on March 27, 2023, 04:01:18 AM

To me it's not a problem, before a legal gambling platform can operates they have to go through some settlement of the law and get proper regulation, it won't be different when CBDC is in action, I still don't know why many people are trying to see CBDC as a different type of money, it's just the same FIAT currency to me, the only difference is the money is in Digital form.

I can only use CBDC if they are available on exchanges paired with BTC or other cryptocurrencies, and some speculate that CBDC may spy on the adopters. If that's the case, I might change my mind.

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.

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To me it's not a problem, before a legal gambling platform can operates they have to go through some settlement of the law and get proper regulation, it won't be different when CBDC is in action, I still don't know why many people are trying to see CBDC as a different type of money, it's just the same FIAT currency to me, the only difference is the money is in Digital form.

I can only use CBDC if they are available on exchanges paired with BTC or other cryptocurrencies, and some speculate that CBDC may spy on the adopters. If that's the case, I might change my mind.

retreat

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Quote from: ethereumhunter on March 24, 2023, 06:48:40 AM

Maybe CBDC has a good future too but I don't know because it also depends on the approval of each government. If they don't allow CBDCs, gamblers will revert to their previous form because that's what made them comfortable depositing and withdrawing their money.

But crypto gamblers will probably still use crypto casinos to play gambling. They will not switch to using CBDC or other forms because they have found comfort in playing gambling. But it seems that the development of CBDCs in the future, especially for cities that allow gambling, can be faster than in other cities.

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.

Mauser

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Quote from: Rruchi man on March 22, 2023, 01:37:05 PM

If Casino's in Macau begin accepting CBDC's, It may prompt other casino's to follow suit especially in places where CBDC's already have the Legal Tender status.

I think this is the best thing that is coming out of the move of Macau to accept CBDCs. Macau must have realised that the online crypto casino boom is becoming a real threat for their local gambling industry. Due to the covid lockdowns many regular casino customers switched to the virtual world and might be reluctant to go back visiting physical casinos. This move by Macau seems to try and get move competitive with the online casinos. For me Macau is too far away to be a real gambling destination, sitting for 12 hours in a plane only to visit a casino is too much. Unfortunately Las Vegas is a similar distance away and I am stuck with my local unspectacular casinos. Any casino that starts accepting digital currency should be rewarded with more customers in my opinion.

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Quote from: Cuenta Alternativa on March 27, 2023, 12:01:47 AM

Quote from: BenCodie on March 26, 2023, 08:36:41 PM

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.

I agree with this, but I don't think cryptocurrency gambling has many years of anonymity left anyway. It was anonymous in the beginning and gradually, especially in recent years, most casinos have imposed KYC. This is a trend that is set to continue.

Casinos and their operators have the choice in how they want to operate. I will agree that right now, it seems like this is a trend that is set to continue. However as the regulated world topples over and begins to change, the values of Bitcoin will probably prevail and I believe that it will be possible for things to be similar to how they were in the beginning. It all depends on the operators and who enters the market when/if the change occurs.

Cuenta Alternativa

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Quote from: BenCodie on March 26, 2023, 08:36:41 PM

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.

I agree with this, but I don't think cryptocurrency gambling has many years of anonymity left anyway. It was anonymous in the beginning and gradually, especially in recent years, most casinos have imposed KYC. This is a trend that is set to continue.

BenCodie

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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.

noormcs5

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Quote from: Quidat on March 25, 2023, 07:35:30 PM

Quote from: noormcs5 on March 25, 2023, 07:25:21 PM

Quote from: Jawhead999 on March 25, 2023, 09:26:47 AM

Quote from: mindrust on March 25, 2023, 08:58:52 AM

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.

If there will be government issued CBDC, gamblers can use if for playing and betting. However, there will no restrictions that we have to use CBDC for gambling and cannot use bitcoin or crypto for gambling.
However, i would take it in a positive way as there are still many gamblers who do not believe in bitcoin and want to bet using dollars or their own fiat money. Now those people can use digital money for gambling too, hence the online crypto based gambling sites can attract more players through CBDC.

There would be no restriction since these things are considered or be treated like e-fiat which the government had mold on which it would be understandable that you are dealing up with something which is regulated and been allowed.Yes, there's no limit and there would be no hesitance on making use of it but on the time that you are owning big amounts then dont get be shocked if governments eyes
would be on you.Honestly, there's no shocking thing about using up CBDC or they would decide on adding it up because it would be no to little difference on using up fiat.
What matter most is on making use of crypto even more than with these cbdc's.

My point here is that currently, we have crypto-based casinos and fiat-based casinos. The crypto based casino do not accept fiat money while fiat based casino do not accept the crypto. However with CBDC this gap can be brigued because CBDC will be digital based money but also fiat money, it can be integrated easily in crypto based casinos.

So overall CBDC will bring more business to online gambling casinos and it will also make the payment quicker and better.

TheGreatPython

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Quote from: mindrust on March 25, 2023, 08:58:52 AM

Quote from: Rruchi man on March 22, 2023, 01:37:05 PM

If Casino's in Macau begin accepting CBDC's, It may prompt other casino's to follow suit especially in places where CBDC's already have the Legal Tender status.

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

Since CBDC's are not really any different than FIAT, the casinos that don't accept FIAT won't accept CBDC's too. Fundamentally CBDC's and FIAT are both the same thing. If a casino gets into trouble for accepting FIAT or any players from the United States, that casino will experience the same problems if they accept CBDC's as deposits. 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.

There's a big difference between them and that is CBDC run's in the blockchain (just like a typical crypto.) The other and most obvious one is CBDC is digital. Apart from CBDC we also have stable coins here in the world of crypto which have a characteristic same with the fiats. If a non-fiat casino or a crypto casino allows stable coins then why not CBDC?

Other crypto casino did even accept banks, visa cards and other payment methods which are close to fiats. CBDCs aren't a game changer anymore because we already saw what they can do in the stable coins but CBDC is considered legit too and they are in fact more trusted by the banks and governments than the standard cryptos that we have these days.

passwordnow

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Quote from: ethereumhunter on March 26, 2023, 04:10:15 AM

Quote from: passwordnow on March 25, 2023, 06:23:22 AM

That might happen since casinos are regulated and they'll just have to obey and adhere to whatever the government will tell them to support. So, as part of CBDC adoption and usage, it's very likely that it will be used through it. But then, there have been hot eyes on the casinos and they might think of money laundering and that's gonna be an ugly impression into it so it could also be slashed to that usage. Well, it's up to them and only them can decide whether they will allow it and be enforced or not.

Yes, it could trigger money laundering using other forms of money, especially if the casino doesn't report its finances in detail. But if the casinos obey the government, maybe the casinos will use CBDC and leave the old methods because of the regulation. But I don't know whether this method can comfort gamblers because if they feel uncomfortable, they will move to another casino. And even though the adoption process is starting to increase, it depends on each gambler because they will feel that comfort later.

And what's good for them is if it's registered on their issuer which could be their central bank and it's got a traceable item or code then they'll be able to figure out if it's been used in money laundering or not. But I don't think that it will be quick that they'll leave the usual methods that they've got. The more, the merrier in terms of accepted payment methods and that's favoring more their customers instead of abandoning one method where their customers have been used to.

ethereumhunter

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Quote from: passwordnow on March 25, 2023, 06:23:22 AM

Quote from: ethereumhunter on March 24, 2023, 11:40:25 PM

Quote from: passwordnow on March 24, 2023, 06:20:13 PM

It's like the actual money so I don't think that they'll refuse it to be used in the gambling industry so, it's most likely that it will be used.
But for us gamblers here, we know that it won't be a matter whether the government refuses or not, we have other means of gambling and that's where we've started and that's with the use of cryptocurrencies.

Yes, it is. As long as there are benefits that casinos can obtain, casinos will use them. Especially if the government supports it, it will make the casinos even more eager to implement it because it's the same as they can get support from the government so that casinos can make them even bigger.

We crypto gamblers already have the choice of using crypto to play gambling. And even though the casino eventually implements it and asks us to obey its rules, we can still play gambling in other casinos.

That might happen since casinos are regulated and they'll just have to obey and adhere to whatever the government will tell them to support. So, as part of CBDC adoption and usage, it's very likely that it will be used through it. But then, there have been hot eyes on the casinos and they might think of money laundering and that's gonna be an ugly impression into it so it could also be slashed to that usage. Well, it's up to them and only them can decide whether they will allow it and be enforced or not.

Yes, it could trigger money laundering using other forms of money, especially if the casino doesn't report its finances in detail. But if the casinos obey the government, maybe the casinos will use CBDC and leave the old methods because of the regulation. But I don't know whether this method can comfort gamblers because if they feel uncomfortable, they will move to another casino. And even though the adoption process is starting to increase, it depends on each gambler because they will feel that comfort later.

Helena Yu

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I think the bright side if the casino want to accept CBDC is the casino wouldn't scam and if they scam, the government can easily trace him because the owner must have conduct KYC verification before accepting CBDC. So anyone who gamble on this casino doesn't need to worry if the casino will turn scam at anytime. But don't be surprised if you have earn a lot money through gambling, you can't withdraw all of your winnings because some portion is to pay tax.

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Quote from: Jawhead999 on March 25, 2023, 09:26:47 AM

Quote from: mindrust on March 25, 2023, 08:58:52 AM

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 don't think they can ban crypto at this stage. Coinbase and Gemini are regulated legit crypto exchanges that pay taxes in the US. Banning crypto would mean destroying these big companies and any other business that depend on these exchanges. Lots of people will lose their jobs, lots of enterprises will go bankrupt and the capital will flow out of the US. The US will lose its best attraction point for the entrepreneurs. The US gov can't afford this. Crypto is here to stay, with or without CBDC.

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Quote from: dothebeats on March 25, 2023, 07:59:35 PM

I won't use CBDCs for gambling. It allows you to be tracked and get a lot of information from you on how you spend your money. I'm fine with using them on other daily purchases, but perhaps not on gambling. Cryptocurrencies is what you want to use if you want to enjoy your gambling escapades. It's way easier, less complications, and provides you some level of anonymity that helps you keep the governments at bay. They might have your KYC information on the site, but they don't know how are you spending your money because you don't use what they want you to use.

This might only work to traditional casinos but in crypto, I doubt on this as we still prefer to use Bitcoin and other top coins instead of using their own token. This will also require another regulations and KYC process which physical casinos usually do to their players. If they will accept this on their online platform, make sure to read the instruction to avoid being locked due your ignorance about its rules and regulations. Let’s see if casinos will fully adopt CBDC.

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Quote from: Oshosondy on March 22, 2023, 01:44:58 PM

CBDCs are not cryptocurrencies.

Non of our concern here with fiat, CBDCs are just fiat and nothing more. If any gambling site begins to accept CBDCs which is what would later happen, they are still just accepting fiat. Our concern here is crypto, not fiat.

Besides it is not as if those casinos or anyone else will have any other option, CBDCs will be legal tender, and that means that everyone living at a country in which their government has created their own CBDC is obligated by the law to accept them or face the consequences, so it is not like fiat casinos can refuse to accept them, and as such CBDCs will go from having no adoption to being accepted by almost all businesses as soon as they are released.

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Quote from: dothebeats on March 25, 2023, 07:59:35 PM

I won't use CBDCs for gambling. It allows you to be tracked and get a lot of information from you on how you spend your money. I'm fine with using them on other daily purchases, but perhaps not on gambling. Cryptocurrencies is what you want to use if you want to enjoy your gambling escapades. It's way easier, less complications, and provides you some level of anonymity that helps you keep the governments at bay. They might have your KYC information on the site, but they don't know how are you spending your money because you don't use what they want you to use.

Ironically, I can see that after the implementation of the CBDC's there will be some casinos which will open and they would advertise themselves as non-KYC but they will only allow people to deposit though those CBDC's.

It may be an effective strategy to lure people who would not be very informed on how those centralized digital coins work to track one's information. The sad thing is that it could work and many would not see attractive to register and submit their information in a crypto/Bitcoin casino in order to deposit, when they could opt to deposit and gamble instantly with those Digital Dollars. Sad

I could be attractive for future generations of gamblers which could demand things done faster.

Topic: The future of CBDC in gambling. - page 4. (Read 774 times)