Post
Topic
Board Gambling discussion
Re: Bitcoin and casinos
by
serjent05
on 28/09/2019, 18:13:48 UTC

For this, it is necessary that the casino accept cryptocurrency as a payment for chips.
I believe that there is no problem

But isn't this exactly the problem?

Just like with merchants not accepting crypto, regular "offline" casinos may not be willing either because they would have to deal with volatility issues. In fact, all such issues can be dealt with in an effective and efficient way (in a technical sense), but that requires extra costs which can easily make the whole thing not worth it (given that they keep their books in whatever the official currency is). And still more so when people willing to stake their coins can easily do that in online casinos (which is totally hassle-free)

Reminds me of a  UK based start-up named Cryptochip that aims to convert cryptocurrency to gambling chips and vice versa, but it seems the project failed probably of a certain reason stated above.  The "hassle"  of using cryptocurrency when one can just use online casino or a fiat when inside a physical gambling casino.  

Anyway, I haven't heard any Physical casino here in Philippines that accept Bitcoin, though if there is, I think I'll still use fiat because it is more convenient that way.