Quote from: deisik on October 14, 2019, 06:32:36 AM

Quote from: Betwrong on October 13, 2019, 03:01:47 PM

Quote from: Slow death on October 11, 2019, 07:17:23 PM

Quote from: iamsheikhadil on October 11, 2019, 06:25:08 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. )